Oil Companies Research Articles

Analysis of Factors Affecting Employee Performance at Palm Oil Company PT. Betami Aceh Tamiang

Analysis of Factors Affecting Employee Performance at Palm Oil Company PT. Betami Aceh Tamiang

An Ensemble Multilabel-Based Analysis of Price Changes Among Listed Central and Eastern European Oil Companies

ABSTRACT While several comparative analyses between major international oil companies are widely available, the same cannot be said about oil companies from Central and Eastern Europe. The present study uses a power-set multilabel approach to analyze changes in the Romanian oil company SNP; stock prices in connection with its regional peers. The multilabel approach uses several base classifiers to analyze the data and a decision tree to choose among them for test purposes. This approach has more predictive power with respect to the area under the receiver operating characteristic ROC curve performance indicator and can be used to analyze other types of data.

A hybrid multi-criteria decision-making and machine learning approach for explainable supplier selection

Supplier selection has become increasingly complex regarding selection criteria caused by expanded data collection processes and supplier numbers due to globalisation effects. This complexity has led to the consideration of Artificial Intelligence (AI) techniques to facilitate and enhance supplier selection. However, the AI techniques most often applied are unfamiliar to stakeholders and have limited explainability, posing a significant barrier to adopting intelligent approaches in supply chains. To address this issue, we propose a hybrid supplier selection framework that combines interpretable data-driven AI techniques with multi-criteria decision-making (MCDM) approaches: the former aims to reduce the complexity of the supplier selection problem, while the latter ensures familiarity to supply chain stakeholders by retaining MCDM at the heart of the supplier selection process. The framework is validated through two real-world case studies supporting supplier selection decisions in oil, gas, and aerospace manufacturing companies. Preliminary results from our case studies suggest that the framework can achieve comparable performance to approaches utilising only machine learning while offering the added benefits of end-to-end explainability and increased familiarity.

Characterizing the combined impact of nucleation-driven precipitation and secondary passivation on carbon mineralization

The evolution of mineral reactive surface area is one of the primary phenomena controlling the progression and extent of mineral carbonation. The CO2 mineralization begins with nucleation of crystals that provide initial surface area for subsequent growth of the mineral. However, many reactive transport models (RTMs) for CO2 mineralization do not include the nucleation process. The few RTMs that do include it are yet to be validated against experimental data. Similarly, many RTMs ignore passivating effects of the secondary mineral, which coats the surface of the dissolving mineral, slow down the reaction process, and reduce the total extent of carbonation. Furthermore, the combined impact of nucleation and passivation on carbon mineralization is yet to be properly characterized. In this study, we consider the coupled effects of passivation and nucleation on the mineralization extent. The nucleation-driven precipitation model relies on the formation of nuclei to provide a surface area for crystal growth, while a new model is proposed to account for passivation effects. Our analysis shows that (i) omission of nucleation leads to overestimation of extent of mineralization, and (ii) omission of passivation leads to overestimation of host rock reactivity. The model was evaluated via comparison with CO2 mineralization data from the literature and models that ignore these processes. We observed that including nucleation and passivation lead to closer predictions of the CO2 mineralization extent. Therefore, this study highlights the importance of including the coupled nucleation-driven precipitation and secondary passivation in RTMs. The findings from the study can be applied in various scientific and engineering applications such as petroleum production, cement carbonation, CO2 sequestration, chemical weathering, and concrete degradation.

Factors influencing accounting information system usage by oil companies & performance outcomes

Factors influencing accounting information system usage by oil companies & performance outcomes

Oil Economy and Society of Nigeria’s Niger Delta Region, 1956-2019

This paper studies the oil economy with a particular focus on the Nigeria’s Niger Delta Region. It argues that since the discovery and exploration of oil in commercial quantities in the Region, it has become both a blessing and a curse. It is a blessing because it has provided wealth to the people and government of the region. Some indigenes of the Nigeria Delta are owners of the oil wells others are employed to work with the oil multi-national companies like Chevron, Texaco, Shell Petroleum Development Company, Agip Oil Company, et cetera. The exploration of oil in the area under review is also a curse because it has negatively affected plants and animals (that is the destruction of flora and fauna); it has destroyed the ecosystem of the area. Using survey and documentary methods of data collection; the paper reveals that despite the discovery and exploration of oil in the said region, Nigeria’s Delta Region has remained one of the underdeveloped regions of the country. This is to say that the impact of the oil industry on the economy and society of the people is marginally felt. Based on the foregoing, these policy options are made. The government should give immediate attention to the indigenes of the region where crude oil is being extracted from. This will reduce the unrest in that region. The government should establish an institution that will ensure that the multinational oil companies are socially responsible to their host communities. Environmental pollution and the adverse effects on the host communities of oil exploration sites in the Niger Delta is an important issue that requires urgent and prompt attention because petroleum production forms the major natural-based resources on which the country depends. Therefore, Policymakers of the various oil exploration companies should realize that there is a need to protect the health, safety, and welfare of these communities. The communities and the inhabitants have to be well protected and some of the health and safety measures, which members of the company staff benefit, should be extended to members of the host communities to improve their standard of living.

ФОРМИРОВАНИЯ НЕФТЕГАЗОВОЙ ОТРАСЛИ В КОНТЕКСТЕ МИРОВЫХ СОБЫТИЙ XX СТОЛЕТИЯ

The article retrospectively considers oil development history starting from the first use of the «black gold» in prehistoric times, first oil well drilling and ending with the oil industry development on the international level In the XX century. The author analyzes the correlation of human historic development and diversification of hydrocarbonic fuel usage. The article studies activities of the major oil corporations such as «Standard Oil», «Anglo-Persian Oil Company», as well as oil companies active at present – «Royal Dutch Shell», «British Petroleum», «Agip», etc. The impact of such pivotal events in the world history as Russian 1917 Revolution, WWI, WWII, post-WWII decolonization process and etc. on oil and gas market is examined. Complex interdependence of world historical events and oil production development is studied in the research. Comparative analysis of these developments and mutual impact of events is provided. Oil is considered as both a strategic fuel and an instrument of foreign policy.

Reminiscing over six decades of global scientific journey (1962-2024): Sedimentary processes, environments, deposits, deformation, fossil fuels, Climate change and groupthink

Abstract: This review is based on my Address delivered as the Chief Guest at the 39th Convention of the Indian Association of Sedimentologists at Annamalai University in Tamil Nadu, India on December 6 2023, Wednesday Morning, just after the Inauguration of the above Convention (Shanmugam, 2023f). My scientific journey from Annamalai University to America and beyond is composed of the following attributes: 1. Covering a span of 62 years (1962─2024). 2. It began unexpectedly, but owes it to the great motivation of Prof. T. N. Muthuswami Iyer. 3. It began with no specific long-term agenda. 4. While, at Mobil Oil Company, fortunately, many research projects were assigned to me. 5. Thus inducing, enabling and culminating in over 150 projects - as a student, researcher, teacher, and consultant. 6. Duration of projects varied from just 3 months in some to about10 years in a few cases. 7. These Projects taught me to transform many obstacles to opportunities. 8. By investing 100% of my energy, focus, and efforts, irrespective of the Project being small or very large. 9. All the projects pursued are based on empirical data derived from drill cores, outcrops, and experiments. The underpinning of all my research work has always been to unravel the truth, without the distraction of Groupthink. 10. Thus, the unstinted devotion to work and research enabled the publication of almost every research topic during the past 62 years resulting in over 380 published works, including five Elsevier books. The Convention Address was thus a glimpse of the scientific journey undertaken, in terms of (1) People: Scientists and others, (2) Projects: >150 (Global), (3) Publications: >380, (4) Recognition: Several, (5) Nature Photography: Norway, China, Ecuador, Spain, India, China, Saudi Arabia, and, (6) A Perspective.

Diagnostics of the technical condition of wells drilled through freshwater horizons using active thermometry

Relevance. Recently, ESG (Environment, Social, Governance) principles have been given an important role in the agenda of oil and gas companies – this is an actively developing global trend in the modern business environment. One of its key aspects is a responsible attitude to the environment, increasing the priority of solving environmental problems arising from the extraction of hydrocarbons. A significant environmental problem is, in particular, pollution of freshwater horizons during oil production due to their poor-quality insulation during well cementing. At the same time, in the space of the well behind the casing, there is a flow of borehole fluid to freshwater horizons, which has a negative impact on the environmental situation in this region. In this regard, monitoring the technical condition of wells crossing freshwater horizons is an important and urgent task. Object. An operational well drilled through freshwater horizon, in which geophysical studies are carried out by the method of active thermometry – local heating of the casing section is carried out and the dynamics of the temperature field in it is studied. Aim. To identify qualitative patterns and obtain quantitative estimates of the effect of the fluid flow in the space behind the casing (column space) on the temperature field in the casing. Methods. Numerical mathematical modeling of thermal and hydrodynamic processes in a well using the software package Ansys Fluent (ANSYS Academic Research CFD license, agreement with Bashkir State University dated 06/15/2020). Results. The authors have studied the influence of a plane-parallel horizontal fluid flow of the freshwater horizon on the azimuthal temperature distribution of the casing string during induction heating. It is shown that in the case of leakiness of the cement ring in the interval of the freshwater horizon, an inhomogeneity of the azimuthal temperature distribution of the column is observed, reaching a value of few more K. The authors carried out the simulation of induction heating in the well with liquid column flow to the interval of the freshwater horizon. It is shown that the sign indicating the overflow is the occurrence of a temperature disturbance area vertically above the induction heating interval with a length of more than 1 m. In general, the results of the performed studies show the informativeness of the active thermometry method in relation to the diagnosis of the technical condition of wells drilled through freshwater horizons.

ANALISIS FAKTOR-FAKTOR YANG MEMPENGARUHI MANAJEMEN LABA PADA PERUSAHAAN SAWIT DI INDONESIA

This research aims to explore the impact of Profitability, Company Size, Leverage and Sales Growth on Profit Management in Palm Oil Companies. The method used in this research is Weighted Least Square using IBM SPSS as the application. Data collection techniques are carried out through documentation methods. The data used in this research is secondary data obtained from the Indonesian Stock Exchange or related company internet sites. The research sample consists of 12 companies listed on the Indonesia Stock Exchange during the period 2017 to 2021. The research results show that the variables Profitability and Leverage have a significant negative influence on Profit Management, while Company size and Sales Growth do not have a significant influence on Profit Management.

Do board characteristics matter in the relationship between intellectual capital efficiency and firm value? Evidence from the Nigerian oil and gas downstream sector

PurposeThe purpose of this study is to investigate the moderating effects of board characteristics such as board size, chief executive officer duality, number of board meetings, and diversity, on the relationship between intellectual capital efficiency and firm value in the Nigerian oil and gas downstream sector.Design/methodology/approachWe collected time-series cross-sectional data from eight (8) downstream-sector oil and gas companies quoted on the Nigerian Exchange Group for the period 2004–2020. We analysed the data using Prais–Winsten regression with panel-corrected standard errors.FindingsOverall, our results show no significant direct relationship between the modified value-added intellectual coefficient and our two measures of firm value (Tobin’s Q and Price Earnings Ratio (PER)). However, the board size is found to moderate the intellectual capital efficiency–PER relationship significantly and negatively, whereas board diversity significantly positively moderates the association between the modified value-added intellectual coefficient and PER. Our multi-theory framework, which blends clean surplus, agency, stakeholder, and resource-based theories is found to be relevant in underpinning this study.Research limitations/implicationsThe research relies on 17-year panel data for eight downstream-sector oil and gas companies. Consequently, future research within intellectual capital efficiency in Nigeria could incorporate related sectors like midstream and upstream to enable comparability and expand generalization.Practical implicationPolicymakers may adopt the study findings to serve as a robust empirical base to demand improved board diversity as a catalyst for boosting the potency of the intellectual capital efficiency-firm value relationship.Originality/valueFirstly, to the best of our knowledge, this study is the pioneer attempt to use board characteristics as moderators of the relationship between intellectual capital efficiency and firm value. Secondly, we develop and use a novel theoretical framework that combines clean surplus, agency, stakeholder, and resource-based theories to underpin the study.

Prediction and Evaluation of Accidents within Oilfields of Arabian Gulf Company Using Discriminant Analysis

The dynamic nature of oil and gas production is one of the major causes for various types of accidents resulting in injuries and fatalities in oil fields. The main purpose of this paper is to identify and classify accidents in Arabian Gulf Oil Company (AGOCO) through application of the Linear Discriminant Analysis (LDA) technique. Data collected were for 8 years spanning from 2005 to 2012, from four oil fields (Sarir, Nafoora, Messla, and Byda).The LDA is used to classify an accident into one of the accident groups; “Oil and gas Leak”, “Fire”, “Accident”, and “Damage”.The developed discriminant functions revealed significant association between groups 60.1%, 22.75%, and 6.97% of between groups variability. However, the structure matrix revealed two significant predictors only of the first function, namely production area and camp with scores of 0.791 and 0.766 respectively. For the second function revealed also two significant predictions; the oil well and the transition station with scores of 0.806 and 0.740 respectively.The third function has no significant predictors. The cross-validated method showed that 65.1% of the grouped cases are correctly classified.

Preparation and characterization of nanotitania@fatty acid modified quartz sand proppant with super-hydrophobic and oleophilic properties

In this work, long-chain fatty acid (lauric acid (LA), myristate acid (MA) or stearic acid (SA))@nanotantia (TiO2) composites (LATC, MATC and SATC) are applied to modify the surface of the quartz sand proppant (LATC@sand, MATC@sand, and SATC@sand proppant) to achieve excellent hydrophobic and oleophilic properties. The water contact angle (WCA) increases with increasing long chain length of the fatty acid. The WCA of SATC@sand proppant even reaches 157.9°, indicating a super-hydrophobic behavior. Moreover, after putting in boiling water for 4 hours, the SATC@sand proppant still exhibits super-hydrophobic property with WCA of 156.2°. Compared with LATC@sand and MATC@sand proppant, the SATC@sand proppant displays better thermal stability, and the thermal decomposition temperature of SATC@sand proppant is at about 170°C. Meanwhile, the SATC@sand proppant demonstrates relative lower acid solubility, bulk density (13.1 g/cm3) and apparent density (2.24 g/cm3) than raw sand proppant, indicating SATC@sand proppant shows great potential for using in hydraulic fracturing to increase petroleum production.

Corrosion Prediction in the Oil Industry Using Deep Learning Techniques

Corrosion presents a significant challenge in the oil industry, causing both immediate and long-term damage. Effective early prediction and monitoring of corrosion are crucial to mitigating economic losses and environmental impacts. However, traditional methods for predicting and detecting corrosion are often time-consuming and inefficient. This study leverages convolutional neural networks (CNNs) within a deep learning framework to develop two automated detection models for internal and external corrosion. These models can extract hierarchical features directly from raw pixel data, enhancing prediction accuracy and efficiency. Our dataset, provided by the Iraqi Oil Company, includes drone-captured images (162 photos: 91 depicting corrosion and 71 showing no signs of corrosion) and ultrasonic sensor readings (250 rows of oil pipeline thickness measurements). We assess the performance of our CNN models using metrics such as accuracy, precision, recall, and F-score, and we perform regression analysis to evaluate prediction errors. This research introduces two innovative systems: a 2D CNN for classifying the presence or absence of external corrosion, and a 1D CNN for assessing internal corrosion levels, identifying areas with the highest corrosion rates, and estimating the remaining operational lifespan based on these rates. Additionally, we develop a user-friendly interface for these systems. Comparative analysis demonstrates the superior efficiency of our proposed approach over traditional and alternative methods. Our findings advance the understanding of artificial intelligence applications in corrosion prediction, offering robust models to prevent unexpected corrosion failures. Future work will explore the integration of additional factors, such as humidity and temperature sensors, to further enhance the system's accuracy and reliability.

PREDIKSI FINANSIAL DISTRESS DENGAN METODE ALTMAN Z-SCORE, ZMIJEWSKI, DAN GROVER PADA PERUSAHAAN SAWIT TERINDEKS SAHAM SYARIAH PERIODE 2020-2022

The primary aim of this research is to analyze the financial challenges encountered by sharia-compliant palm oil companies, along with assessing the variances in financial distress prognostications among the Altman Z-Score, Zmijewski, and Grover methodologies. Employing secondary data, this study adopts a descriptive quantitative approach. Data collection spans three years (2020–2022) utilizing a documentation strategy. Through purposive sampling, six companies are selected for analysis. Financial trouble predictions are conducted utilizing Altman Z-Score, Zmijewski, Grover, and One Way Anova methods prior to hypothesis testing. The study reveals disparate outcomes among the Grover, Zmijewski, and Altman Z-Score methodologies. Notably, the Zmijewski approach exhibits the highest accuracy rate of 83% among the predictive models for financial distress.

Conflict Resolution and Organizational Performance of Oil and Gas Firms in South-South Nigeria

This study examined the relationship between conflict resolution and organizational performance oil and gas firms in south-south Nigeria. The study adopted correlational survey research design. Population of the study constitutes the elements within the study unit. Therefore, the population of the study comprised of twenty-five (25) oil and gas companies. Data for this study were collected through primary data source; the questionnaire was the instrument used in collecting primary data. A total of two hundred and fifty copies of the questionnaire were distributed in a frame of 10 copies per firm. Reliability analysis was performed on the data using the Cronbach Alpha coefficient and it stood at 0.98. The data collected for the study were analyzed through descriptive and inferential statistics. The multiple regression analysis was adopted. The findings revealed a significant relationship between compromising strategy and organisational performance of oil and gas firms in south-south Nigeria. Also, a strong significant linear relationship was revealed between collaboration strategy and organisational performance of oil and gas firms in south-south Nigeria. The study concludes that oil and gas firms should adopt collaboration and compromise strategy, given its effectiveness in conflict management, as demonstrated by this study and supported by numerous other research findings. Furthermore, the study recommends that organizations should focus on increasing the utilization of conflict management strategies like collaboration and compromise strategy to increase organizational performance.

Effects of 4Ps Marketing Mix Strategies on Profitability Enhancement of Petroleum Companies in Afghanistan – A Case Study

Effects of 4Ps Marketing Mix Strategies on Profitability Enhancement of Petroleum Companies in Afghanistan – A Case Study

Building Information Modeling as a Moderator Effects the Relationship Between Sustainability Metrics and Stakeholder Satisfaction

The oil industry is, by virtue of being a resource of value addition, the engine of industrialisation in countries. When focusing on environmental concerns today, studying the connection between financial management and Building Information Modelling (BIM) in climate-friendly oil projects is highly recommended. This paper is dedicated to the role of sustainability and Iraq’s decisions in Accounting and Information Systems in Iraq’s oil sector. It aims to capture the relationship between everything that is based on sustainability metrics and economic actors who also play important roles in such undertakings. The research succeeded in collecting data by preparing a survey, which was conducted among leading oil companies in Iraq, with the aim of determining their information system procedures. The data was analysed using the methodology of Partial Least Squares Structural Equation Modelling (PLS-SEM). The results illustrate the positive help for BIM by including sustainability metrics. The information system type for the BIM also significantly influences the relationship between sustainability indicators and public sectors, with public sector participants being the more determinant group. This means that financial metrics, which may be interpreted as a performance factor for BIM, play a role in creating links that serve as the predicates of the sustainability indicators. Additionally, it rBIMes the concept of trade-off on the operational aspects between sustainability and economic gains in oil trading by adding a unique perspective to existing literature. The model created in this study is grounded on the PLS-SEM, complemented by the literature, and the hypotheses are tested. Through the inclusive coverage of the oil industry, the information can enlighten and guide effective strategies for collaborating with architectural work stakeholders that highlight the importance of oil sector proposals.

Government-Imposed Taxes and Firms’ Profitability: Evidence from Nigerian Oil and Gas Companies

Government-Imposed Taxes and Firms’ Profitability: Evidence from Nigerian Oil and Gas Companies

Методический подход к проектно-процессному управлению инновационным развитием нефтегазодобывающих компаний РФ

в статье представлен разработанный авторами методический подход к организации проектно-процессного управления инновационным развитием российских нефтегазодобывающих компаний. В основу сформулированных предложений положено структурно-логическое моделирование бизнес-процессов инновационного преобразования компаний в целях их адаптации к изменяющимся внешним и внутренним факторам развития. Рассматривается классификация основных бизнес-процессов инновационного развития и предлагаются соответствующие типологические группы инноваций для эффективной бизнес-деятельности. Цель: Обосновать методический программно-целевой подход к проектно-процессному управлению инновационным развитием компаний, позволяющий специалистам осуществлять практическую разработку программ инновационного развития предприятий. Методы: Использованы общенаучные методы системного анализа, а также аналитический и инструментальные методы структурно-логической схематизации и организационного моделирования. the article presents the methodological approach developed by the authors to the organization of project-process management of innovative development of Russian oil and gas producing companies. The proposals formulated are based on structural and logical modeling of business processes of innovative transformation of companies in order to adapt them to changing external and internal development factors. The classification of the main business processes of innovative development is considered and the corresponding typological groups of innovations for effective business activities are proposed. Goal: To substantiate a methodological program-targeted approach to project-process management of innovative development of companies, allowing specialists to carry out the practical development of programs for innovative development of enterprises. Methods: General scientific methods of system analysis, as well as analytical and instrumental methods of structural and logical schematization and organizational modeling were used. Results: a complex of structural and logical models was identified as the main result of the study. Conclusion: As a result of the study, it is possible to form calculation and evaluation complexes and develop in-house documents for planning and managing innovative development management processes.