World Oil Research Articles

THE CURRENT STATE OF THE OIL AND GAS INDUSTRY OF THE REPUBLIC OF KAZAKHSTAN

The scientific article is devoted to the management of the current state of the oil and gas industry of the Republic of Kazakhstan. The main calculations in the work were carried out on the data of one of the largest companies in the oil and gas industry of Kazakhstan, on the example of the national joint-stock company Exploration Production KazMunayGas. The activity of an oil and gas company is one of the most capital-intensive. Investments in exploration and technology are needed to sustainably operate and maintain and grow production volumes. In the context of volatility in world oil prices and exchange rates, as well as a decrease in production rates at some existing fields, it is necessary to constantly monitor the financial and economic condition of oil and gas companies. The effectiveness of enterprise management is mainly determined by the quality of its organization. Of great importance is the monitoring of the current state, its analysis and evaluation, as well as the adoption of timely and adequate measures to improve it. In carrying out monitoring and further analysis, the main information support is the data of the financial statements of the enterprise, i.e. balance sheet and income statement. In the process of managing an enterprise, in order to take adequate measures, it is extremely important to correctly assess the situation, determine the causes, and also develop a development strategy for the future period. The analysis of the financial and economic state implies not only a statement of facts on the state of the enterprise, not only formal assessments, but also includes identifying the causes of the current situation and finding ways and means to eliminate them, identifying new development opportunities.

Analisis Pengaruh Faktor Eksternal dan Internal Perusahaan Terhadap Harga Saham Syariah pada Sektor Barang Konsumen Primer


 
 
 
 This study aims to examine the impact of Inflation, World Oil Price, Company Size, and Return on Equity (ROE) on Sharia stock prices. Companies in the primary consumer goods sector registered with ISSI for the period 2013-2021 constitute the population of this study. Secondary data included stock price, inflation rate, world oil price, company size and ROE were obtained from the Indonesia Stock Exchange, Bank Indonesia, World Bank and companies financial statements. This study employed the panel data regression analysis method and hypothesis testing with Eviews 10. The results reveal that individually, company size and ROE have a positive and significant influence on stock prices, while inflation and world oil prices have a positive and insignificant influence on stock prices. Simultaneously, inflation, world oil prices, company size and profitability have a significant influence on stock prices.
 Keywords: Internal factors; External factors; Stock prices
 
 
 
 

ANALYSIS OF THE EFFECT OF FUEL SUBSIDY POLICY ON ECONOMIC GROWTH IN INDONESIA

This study aims to determine the effect of fuel subsidy policy on economic growth in Indonesia. Fuel oil (BBM) is one of the energy needed by the community as fuel for vehicles, both private and for public vehicles. In Indonesia, the fuel price increased in September 2022, where one example is the price of pertalite fuel, which was originally IDR 7,650 per liter to IDR 10,000 per liter. One of the factors causing this is the conflict between Russia-Ukraine which affects world oil prices to increase. To overcome this, the government made several policies including providing fuel subsidies to the community to launch their activities to increase economic growth in Indonesia.
 Keywords: Fuel, Subsidy Policy, Economic Growt

Analysis of the Receipts of the National Fund of Kazakhstan

The article discusses the key factors determining the National Fund of Kazakhstan (NFK) accumulation from January 2005 to February 2017. As the main factors in this model, world oil prices, the share of deductions of oil companies' income to the fund, domestic oil production, the tenge exchange rate against the U.S. dollar and interest income on the fund's investments were considered. In order to explain these factors impact on the oil fund receipts, a relevant functional model was developed. The stationarity of the data series was checked using the Augmented Dickey Fuller unit root test. Verification of the model was conducted using different econometric methods, as the primary model used the least squares method (LSM). Using the generalized method of moments (GMM) helped overcome the problem of autocorrelation and heteroscedasticity and validate the model specification. The autoregressive conditional heteroscedasticity (ARCH) method and the Generalized Linear Model (GLM) were also used to test the basic models. The built econometric models confirmed that NFK's receipts positively depend on the tax rate on oil producing firms, world oil prices, and domestic oil production and negatively on the exchange rate of tenge. However, the increase in interest rates on the U.S. Treasury bonds did not increase the fund's income. This can mean either the ineffectiveness of its investments or the periodic withdrawal of the investment income. In general, the study should help understand the factors determining NFK's revenue and increasing its amount in the future.

Hubungan inflasi, minyak dunia, dan sektor transportasi dan logistik

In addition to impacting world oil prices, global inflation conditions at the beginning of 2023 also triggered changes in the national inflation rate and tended to have an impact on the transportation and logistics index. This study aims to examine the relationship between national inflation, world oil, and transportation and logistics index. This study finds that neither the rate of return of world oil prices nor the national inflation rate has an insignificant relationship with the transportation and logistics index. These results imply that increases or decreases in world oil prices tend not to be followed by fluctuations in the transportation and logistics index. At the same time, these results also imply that changes in the national inflation rate will not be accompanied by changes in the transportation and logistics index.

Dampak Penerapan Fuel Surcharge pada Maskapai Wing Air Layanan No Frills terhadap Load Factor Rute Surabaya – Yogyakarta

There was an increase in world oil due to geopolitical conflicts, this increase in fuel prices had an impact on the aviation industry, namely an increase in the price of avtur or aircraft fuel. One of them is Wing Airlines with a propeller-engined aircraft, namely ATR-72, expressed a complaint in the conditions experienced to ask for an adjustment in the price of airplane tickets for assistance from the government due to the avtur cost component which eats up operational costs. This study aims to determine the impact factors of the increase in aircraft fuel prices in the application of a new component called Fuel Surcharge. In addition, this study also aims to find solutions to overcome the impact of rising fuel prices by Wing Airlines on the Surabaya - Yogyakarta route. This research is descriptive using qualitative methods with data collection methods in the form of interviews, observation, and documentation. The data obtained is in the form of interviews with Wing Air Airline officers at Juanda International Airport as well as documents used to carry out daily activities. The results of this study indicate that the factors that increase passenger ticket fares in fuel operational costs are due to rising world oil prices, so that government regulations are imposed, namely applying a fuel surcharge component of 25% of the base price rate charged to service passengers. air freight. In the results the data obtained does not show a drastic change in the number of passengers (Load Factor) so that the increase in ticket prices does not have an effect on the number of passengers (Load Factor) to adjust fuel operational costs but additional costs (Fuel Surcharge) have been determined and determined by the government to parties airline to apply to the specified route.
 Keywords: Avtur increase, Fuel Surcharge, Load Factor

Forecasting supercritical behavior of drill strings in horizontal wells

The determining factor in the current changes in the world energy balance and its structure, as well as the global development of the oil and gas industry, is currently the technological factor. As a result, fundamentally new categories of horizontal and inclined wells appeared and developed. They give a multiple increase in flow rates, as they increase the production area many times over. They are used in the development of offshore projects, in swampy and very difficult areas, to increase oil recovery, restoration of inactive wells.
 New technologies based on the method of horizontal drilling have revolutionized the practice and theory of world oil production, as they have allowed the destruction of offshore oil and gas fields without the construction of expensive offshore foundations and platforms.
 When drilling horizontal wells, as a rule, the main cause of emergencies is the loss of stability of the drill string, its bifurcation protrusion and the maximum frictional interaction with the well wall. The issues of theoretical modeling of the phenomenon of unstable protrusion of columns are associated with significant difficulties, the main of which is due to the need to set the Sturm-Liouville boundary value problem on a large length of drill string. Because for deep wells, the drill string becomes geometrically similar to a human hair, many traditional mathematical methods used to integrate solving equations become poorly convergent in these cases.
 Based on the theory of curvilinear flexible rods, the problem of theoretical modeling of supercritical states of drill strings taking into account their contact interaction with the walls of oil and gas wells is set. Analytical solutions of the problem are constructed, which determine the critical values of external tensile or compressive longitudinal force and torque at a given difference in the diameters of the cavity and the drill string, the zones of supercritical states of drill strings are established.

Overview of Methods for Enhanced Oil Recovery from Conventional and Unconventional Reservoirs

In world practice, the role of reproduction of raw material base of oil production by implementing modern methods of oil recovery enhancement (thermal, gas, chemical, microbiological) on the basis of innovative techniques and technologies is rapidly growing and is becoming more important. It is concluded that at present, the priority of increasing oil reserves in world oil production is the development and industrial introduction of modern integrated methods of enhanced oil recovery, which can provide a synergistic effect in the development of new and developed oil fields. This article presents a review and comparative analysis of theoretical and practical methods of improving oil recovery of conventional and unconventional reservoirs. The paper examines in detail methods of improving oil recovery, taking into account the factors of enhanced oil recovery of oil reservoirs. Considered the main methods and technologies currently used to develop oil fields and recommendations for their effective use, taking into account the variety of external factors of oil production: the geological structure of the reservoir, its volume, and properties of oils. It is shown that there is no universal method of oil reservoir development, and it must be chosen after a thorough feasibility study among several proposed models. When describing the methods of enhanced oil recovery, special attention is also paid to the physical processes that occur as a result of applying the technology. In conclusion, the positive and negative characteristics of the presented methods included in EOR are presented, and recommendations that may influence the choice of practical solutions for engineers and oil producers are given. Conclusions are made that development systems, placement and choice of operating mode of wells essentially depend on the geological structure of the reservoir, its volume and properties of oils. An important role in this is the construction of a geological model of the production facility. The used hydrodynamic models of development are based on physical laws, about which oil producers sometimes don’t even suspect, and the authors of the models are not always able to convey it to the real producers. The authors consider it reasonable to make a logical generalizing conclusion that understanding processes occurring in the reservoir and taking appropriate measures for optimization and intensification of oil production will allow making oil production as effective as possible.

State of Art of Pipeline Distribution of Oil Products in Kenya-Threats, Challenges and Prospects

Finally, in 2012, Kenya hit significant commercial oil deposits that could potentially, position it among prospective world oil exporters. Unparalleled expectations from this find is arousing long dead pipedreams of economic bonanza and overnight transformation among all stakeholders. However, to avail this resource to the markets, for the expected fiscal changes to occur, it has to be transported. This paper, therefore, seeks to microscopically review the current status of the pipeline transport of oil products in Kenya in the last decade. A summarized outlook of pipeline oil distribution globally is availed, especially in well-developed oil jurisdictions. This is sequenced with a comprehensive history of oil pipeline transport in the country. The flow mechanism of white and black oil products in pipelines is then briefly addressed in view of the waxy Turkana oil. A sneak preview of the legal landscape on oil pipeline transport in Kenya is likewise highlighted. The current content and context of pipelines, flow of white and black oil products in pipelines, and new pipeline infrastructure are then discussed with Kenya Pipeline Company Limited as the central denominator. Additionally, assertions on the upcoming new crude oil pipeline are evaluated. Finally, it exposes the prospects and challenges in the pipeline transport of oil products and sums up with vials of viable recommendations for its long term progress.

Laplacian Split-BREAK Process with Application in Dynamic Analysis of the World Oil and Gas Market

This manuscript deals with a novel, nonlinear, and non-stationary stochastic model with symmetric, Laplacian distributed innovations. The obtained model, named Laplacian Split-BREAK (LSB) process, is intended for dynamic analysis of time series with pronounced and permanent fluctuations. By using the method of characteristic functions (CFs), the basic stochastic properties of the LSB process are proven, with a special emphasis on its asymptotic behaviour. The different procedures for estimating its parameters are also given, along with numerical simulations of the obtained estimators. Finally, it has been shown that the LSB process, as an adequate stochastic model, can be applied in the analysis of dynamics in the world market of crude oil and natural gas.

The US-China Trade War in Macroeconomic Studies of the Indonesian Sharia Stock Index

A number of studies have been the witness of pros and cons about whether the US-China trade war affected the world’s macroeconomics. This study aims to analyze the effect of macroeconomic variables on the Indonesian Sharia Stock Index (ISSI) during the trade war period between the United States and China. The research’s assumption is delved from the occurrence of a trade war between two countries with the largest economic valuations in the world can disrupt the world economy including investment. The urgency of this research is to measure the impact of the trade war on the Indonesian sharia stock index which is one of the factors of economic growth. The analytical method used in this study is the Vector Error Correction Model (VECM) to examine the long-term and short-term impacts. The results of this study indicate that in the short term the BI Rate, FED Rate, USD Exchange Rate, CNY Exchange Rate, World Gold Price, World Oil Price, Exports, and Imports have no effect on the Indonesian Sharia Stock Index (ISSI). The long-term results show that the BI Rate, CNY Rate, World Gold Price, World Oil Price, and Imports have a negative effect on the Indonesian Sharia Stock Index (ISSI), while the FED Rate, USD Rate, and Exports have a positive effect on the Indonesian Sharia Stock Index (ISSI). Based on these results the government is expected to tighten fiscal and monetary policies so that in the future if something similar happens, the Indonesian Sharia Stock Index (ISSI) remains on the right track.

The relationship between oil prices and energy sector stocks in the global recession issue

Changes in world oil prices as a result of global issues have had a certain impact on the capital market in Indonesia. This study aims to examine the relationship between stock prices in the energy sector and fluctuations in world oil prices. Observations were made from January to April 2023 with a sample of 76 firms in the energy sector. The result of the analysis shows that stock prices in the energy sector have high variability throughout the observation period. In addition, this study finds that energy sector stock prices have a positive relationship with world oil prices.

Computational and experimental simulation of wind impacts on a lattice structure

This work involves the study of wind impact on a lattice structure. Permeable lattice structures are widely used in construction all over the world (oil derricks and power line pylons, etc.); at the same time, the aerodynamic forces acting on such structures may make a decisive contribution to their stability. There are several methods of lattice structure computation for wind impacts: a computation according to the existing normative documents and experimental and numerical simulation. Each of the above methods has its own merits, demerits, and difficulties. Thus, the normative documents do not allow to compute complex space-frame structures. In this work a computational and experimental approach is utilized. An experimental study is conducted in a wind tunnel to determine the integral aerodynamic characteristics, while the local aerodynamic characteristics are determined based on the results of numerical simulation in a CFD complex. A valid numerical model is used the parameters of which ensure the reconciliation of the obtained results with the experiment data. At the next stage a vortex resonance excitation of the lattice structure is studied. This methodology makes it possible both to determine the values of aerodynamic coefficients necessary for computing the wind load on the structure as a whole and evaluate the vortex resonance excitation probability.

Impact of alternative soil data sources on the uncertainties in simulated land-atmosphere interactions

Numerical weather- and climate prediction models rely on soil data to accurately model land surface processes. However, as soil data are produced using soil profiles and maps with multiple sources of uncertainty, wide discrepancies prevail in global soil datasets. Comparison of four commonly used soil datasets in Earth system climate models, i.e., Food and Agriculture Organization soil data, Harmonized World Soil Database, Global Soil Dataset for Earth System Model, and global gridded soil information system SoilGrids, yields widespread differences in southern Africa. This study investigates the simulated land-atmosphere interactions in southern Africa in the context of the uncertainties from applying different global soil datasets. We conducted ensemble simulations using the fully coupled Weather Research and Forecasting Hydrological Modeling system (WRF-Hydro) incorporated with each of the global soil datasets mentioned above. Model simulations were performed at 4-km convection-permitting scale from January 2015 to June 2016. By quantifying model's internal variability and comparing the modeling results, results show that the simulated temperature, soil moisture, and surface energy fluxes are largely impacted by soil texture differences. For instance, changes in soil texture and associated hydrophysical parameters result in large differences in air temperature up to 1.7°C and surface heat flux up to 25 W/m2, and disparities in averaged surface soil moisture differ up to 0.1 m3/m3 in austral summer months. Differences in soil texture characteristics also regulate local climatic conditions differently in the wet and dry seasons as well as in different climatic regions. Furthermore, the thermodynamic differences in surface energy fluxes caused by soil texture demonstrate physical feedback perspective on atmospheric processes, resulting in distinct changes in planetary boundary layer height. This study demonstrates the non-negligible impact of soil data on land surface-atmosphere coupled modeling and highlights the need for consistent consideration of modeling uncertainties from soil data in modeling applications.

Preparation of tubing inner surface reinforced layer by inert anode assisted jet electrodeposition

As most of the world's oil fields enter the high-water cut stage of production, the phenomenon of tubing and rod erosion in rod pump production is becoming more and more serious. Tubing corrosion will affect the normal production of oil wells and cause serious economic losses. At present, the surface treatment methods of preparing tubing inner wall reinforced layer include ion infiltration, electroless plating and so on. There are some problems such as low processing efficiency, serious pollution and low comprehensive performance of the reinforced layer, which affect its popularization and application in oil field production. In this paper, an inert anode assisted jet electrodeposition (IAAJED) method is proposed, which can be used to prepare Ni-Fe-SiC reinforced layer with strong mechanical properties on the tubing inner surface with high efficiency and no pollution. Compared with electro chemical deposition (ECD) and conventional jet electrodeposition (CJED), the strong flushing solution and stable inter-polar environment of IAAJED can significantly improve the surface quality of the reinforced layer, which is characterized by a significant decrease of cellular bulges and a significant increase in compactness. IAAJED at higher current density can promote grain nucleation and capture more nanoparticles, and the SiC particles content in the reinforced layer increases by 49.2%, and the grain is refined by 38.6%. The wear resistance of the reinforced layer is also improved, with the hardness increasing by 25.8% and wear rate decreasing by 60.9%. At the same time, the impedance of the reinforced layer prepared by IAAJED is increased by 116.09% and the corrosion current density is reduced by 61.25%, which represents a significant improvement in corrosion resistance. This study is of guiding significance for the development of the inner surface reinforced layer of high performance tubing.

High-resolution global mature and young oil palm plantation subclass maps for 2020

ABSTRACT Accurate high-resolution maps of oil palm plantations underpin effective management of environmental and socio-economic impacts at global, regional, and national levels. However, young industrial and highly irregular small-holder plantations are mostly unmapped and not included in official FAO statistics. This issue is addressed here by discriminating global oil palm plantation in 2020 into four subclasses: Industrial Mature Oil Palm (IMOP); Industrial Young Oil Palm (IYOP); Smallholder Mature Oil Palm (SMOP); and Smallholder Young Oil Palm (SYOP). Data, resolved to 4.77 m, from Planet & NICFI, Sentinel-1/2, were combined with other layers using the image-oriented classification and regression tree (CART) algorithm which performed best in classification tests. Results show that SMOP dominates distributional extent, but it was also the most accurately mapped subclass typically found at 500–1000 m altitude. IMOP had the most extensive altitude range of 500–1300 m, while IYOP and SYOP were found at similar altitudes of 500–800 m and 500–900 m respectively. Recent developments in South East Asia show oil palm plantations expanding into new areas with a slope of 24 degrees. Results provide data to support Sustainable Development Goal by assisting future oil palm-related development planning and monitoring in the world's major oil palm-growing countries.

Crude oil price prediction using Artificial Neural Network-Backpropagation (ANN-BP) and Particle Swarm Optimization (PSO) methods

Crude oil price prediction using Artificial Neural Network-Backpropagation (ANN-BP) and Particle Swarm Optimization (PSO) methods

THE ROLES OF GLOBAL SOIL PARTNERSHIPS IN SOIL EVANGELIZATION IN POST COVID-19 ERA

Soil evangelization (SE) is a holistic trans-disciplinary approach to raise awareness about soil security and to address soil and land related challenges to sustainable development. It is a major function of the Global Soil Partnerships (GSP) as a voluntary body formed in 2011 by the FAO in collaboration with European Commission. The GSP facilitates SE through multidimensional activities such as organization of the World Soil Days, celebration of the International Year of Soils 2015, and enacting the world soil charter, to facilitate and support sustainable soil resource management in collaboration with relevant agencies. Their specific and future activities include connecting people with soils and raising awareness on their critical importance in our lives, development of soil educational materials and teaching methods, in view of COVID-19 pandemic, for various grades of students. Others include strengthening initiatives in connection with the Sustainable Development Goals (SDG) process and post-2015 and post COVID-19 agenda.

Dynamic Relationship of Macro Variables and Liquefied Petroleum Gas Subsidy Transformation Program

Most Indonesians rely on liquefied petroleum gas as one of their primary sources of energy. Liquefied petroleum gas is classified into subsidized and non-subsidized. Subsidized liquefied petroleum gas is primarily used by low-income households, small businesses, and poor fishermen and farmers for cooking. However, no exit strategy has been established to overcome the increase in government spending on subsidized kerosene introduced in 2008. The problem is that macro variables may influence liquefied petroleum gas economic prices. The research aimed to identify the relationship between macro variables that might affect liquefied petroleum gas economic prices. It applied a quantitative method with Vector Auto Regression (VAR) and Vector Error Correction Model (VECM). The results demonstrate that inflation rate have a significant impact on the economic price of liquefied petroleum gas. Then, gross domestic product, inflation rate, and world gas price have positive correlations to the economic prices in liquefied petroleum gas. Meanwhile, currency exchange and world oil price have negative coefficients. The regression model indicates that a rise in inflation increases market prices in liquefied petroleum gas. Furthermore, the increased subsidized fuel means more poor people cannot afford liquefied petroleum gas. It is because high inflation reduces purchasing and potentially increases the number of poor people.

Global and regional soil organic carbon estimates: Magnitudes and uncertainties

Globally, soil is the largest terrestrial carbon (C) reservoir. Robust quantification of soil organic C (SOC) stocks in existing global observation-based estimates avails accurate predictions in carbon-climate feedbacks and future climate trends. We investigated the magnitudes and distributions of global and regional SOC estimates (i.e., density and stocks) based on five widely used global gridded SOC datasets, a regional permafrost dataset developed in 2021 (UM2021), and a global-scale soil profile database (World Soil Information Service) reporting measurements of a series of physical and chemical edaphic attributes. The five global gridded SOC datasets were the Harmonized World Soil Database (HWSD), World Inventory of Soil Emission Potentials at 30 arc-second resolution (WISE30sec), Global Soil Dataset for Earth System Models (GSDE), Global Gridded Soil Information at 250-m resolution (SoilGrids250m), and Global Soil Organic Carbon Map (GSOCmap). Our analyses showed that the magnitude and distribution of SOC varied widely among datasets, with certain datasets showing region-specific robustness. At the global scale, SOC stocks at the top 30 and 100 cm were estimated to be 828 (range: 577–1 171) and 1 873 (range: 1 086–2 678) Pg C, respectively. The estimates from GSDE, GSOCmap, and WISE30sec were comparable, and those of SoilGrids250m and HWSD were at the upper and lower ends. The spatial SOC distribution varied greatly among datasets, especially in the northern circumpolar and Tibetan Plateau permafrost regions. Regionally, UM2021 and WISE30sec performed well in the northern circumpolar permafrost regions, and GSDE performed well in China. The estimates of SOC by different datasets also showed large variabilities across different soil layers and biomes. The discrepancies were generally smaller for the 0–30 cm soil than the 0–100 cm soil. The datasets demonstrated relatively higher agreement in grasslands, croplands, and shrublands/savannas than in other biomes (e.g., wetlands). The users should be mindful of the gaps between regions and biomes while choosing the most appropriate SOC dataset for specific uses. Large uncertainties in existing global gridded SOC estimates were generally derived from soil sampling density, different sources, and various mapping methods for soil datasets. We call for future efforts for standardizing soil sampling efforts, cross-dataset comparison, proper validation, and overall global collaboration to improve SOC estimates.