Petroleum industry

Oil plays an important economic and social role in Venezuela. The country earns $15 to $20 billion per year in oil revenues, constituting between 75 and 80 percent of Venezuela's total exports. Taxes, royalties and dividends from PDVSA represent roughly 50 percent of all government revenues. Oil activity directly and indirectly generates around 40 percent of national economic activity. (Giusti) The oil impacts on Venezuelas economy can be broken down into three concentric circles. The first…

A country’s level of stability must be judged based on many different factors. In fact, it is easier to define the stability of those individual factors, than it is to judge them as a collected whole. In American popular culture, we generally tend to think of the Middle East an area of the world that is full of instability. If one were to look at all of the civil unrest they would come to that conclusion. The Middle East is much more than that, however. The civil unrest is just the top layer of…

sectors of the economy. However, shortly after independence, Shell Petroleum discovered oil for the first time in a viable quantity in Nigeria. A decade later, petroleum products supplanted agriculture as the mainstay of Nigeria’s economy. In 2006, more than 80 percent of Nigeria’s revenue and expenditure were derived from proceeds generated through petroleum products. The shift from agriculture and non-oil sectors of the economy to petroleum economy will soon open the floodgate of Nigeria’s…

Apart from the production unit, flare stack is also a significant security device for the petroleum and petrochemical industries used for exhaust gas pressure (Flare Gas) from the production process, especially if the process fails. Despite the safety equipment necessary, to reduce the frequency and volume of vented gas flares out to the left, it will reduce the anxiety of neighboring communities. Therefore, the company plans to reduce the flare stack as well as improve it efficiently as…

changed our economy throughout the years. Texas is defined by being the second largest state in the union, if also has the second most populous. Texas has many urban areas, rapidly growing and becoming more diverse. The economy of high technology, industries and oil. In my perspective, the population and economy will continue gradually to increase shaping Texas to one of the most important states in the United states. Texas is filled with many opportunities for our society. It has undergone…

British Petroleum William Knox founded British Petroleum in May 1908, as Anglo-Persian Oil Company. The Shah of Iran gave Mr. Knox permission to drill for Iran´s oil. In 1909 the Anglo-Persian Oil Company (APOC) was incorporated and shares were sold to the public. The first chairman was Lord Stratchona, he also owned a minority shareholder. BP is a public limited company, their ownership is spread among the general public in many shares of stock, and these stocks are freely traded on a stock…

The Executive Branch is still involved: Congress has already passed a bill in favor of the pipeline, which was vetoed by President Obama . “The oil and gas industry, environmental groups, construction groups and building trade unions gave more than $232.3 million to lawmakers last year alone, according to data compiled by OpenSecrets” . The jobs the pipeline would bring are a major benefit anticipated by pipeline…

public health and safety. In addition, they cause fires and explosions, compromise agriculture, waste nonrenewable resources, harm and kill wildlife, and much more (Yeardley). Since 1859, eight hundred billion barrels of oil have been burned. The oil industry…

Hengyuan Refining Company Berhad (HRC) Hengyuan Refining Company Berhad (HRC) is operated in refining, manufacturing, and sell petroleum products in Malaysia. HRC was formerly known as Shell Refining Company Berhad and changed its name into Hengyuan Refining Company Berhad in March 2017, and it is also a subsidiary of Malaysia Hengyuan International Limited. The company was established in 1960 and is based on Port Dickson, Malaysia. HRC began their operations in 1963 with a single crude…

cumulative production had exceeded 2 billion barrels of oil, thus confirming Dubai Petroleum Establishment 's two principal fields Fateh and SW Fateh as being classified within the category of 'giant ' oilfields. 1990 marked another major success in Dubai Petroleum Establishment with the company 's first horizontal well drilled, allowing a greater section of the producing reservoir to be accessed.”("Dubai Petroleum." Dubai Petroleum. N.p., n.d. Web. 24 Nov. 2016.) .The fact that Dubai was…