Petroleum industry

It is important to address every aspect of the diverse and convoluted Nigerian oil Industry through international law. Licenses to explore and produce oil represent highly valuable assets for the foreign companies. It is imperative that these contracts are conducted in a more open and competitive manner. Transparency has been replaced instead with the non-performance of contractual obligations, bribery and favoritism. Although there were repeated attempts for the allocation rounds to take place…

On March 24, 1989, in Prince William Sound Alaska, the Exxon Valdez was moving South West subsequent to leaving Port Valdez. The ship was carrying fifty million gallons of raw petroleum. The Exxon Valdez, an oil tanker that was heading to Long Beach California. The tank had struck a reef in Alaska’s Prince William Sound, which resulted in the spilling of 260,000 to 750,000 barrel of crude oil. The Exxon Valdez spilled 10.9 million gallons out of its 53 million gallon payload of Crude oil. Eight…

The stock market saw its worst crash since the Great Depression in November 1973. The aviation industry felt the same quake: domestic airline traffic decreased 5% in 1973. The Congressional Hearing on alternative fuels for aviation during the second session of the 98th Congress revealed just how heavy the effect was on airlines. Consuming 6% of the nation’s petroleum product, the civil aviation sector had tripled its energy consumption in the previous decade, thanks to the groundbreaking…

principal activities of the oil and natural gas industry. The Shell brand name has enjoyed a 100 year history in this part of the world to date. It is committed to dedicate all its energies, resources and time to bring about higher value and satisfaction to its customers, employees and shareholders. Shell is a leading Anglo–Dutch multinational oil and gas corporation founded in February 1907 following the successful merger of two rival firms, Royal Dutch Petroleum Company and the…

the process that lawmakers have went through to get fracking to the place it is today. “For example, the public disclosure of fracking chemicals varies by state and, of the 14 states that require base fluid volume reporting, only 8 states require industry to identify what the base fluid is composed of” (Rinfret, Cook, & Pautz, 2014, para. 1). The states are the ones making the call for regulations based on Hydraulic Fracturing, some require more descriptive reports being made back to the…

In my paper I will address the question, in what ways can the oil and gas industry improve its ethical risk management strategies in order to reduce accidents. As well as which method is preferable and why it is preferable. First to answer this question, I will address the first step in the Leeds Model which is to define the ethical dilemma that is taking place in the oil and gas industry. The ethical dilemma taking place in this case is the fact that Exxon, BP, and fracking are all taking…

possibility of the contamination of freshwater sources by fracking fluids and air contamination through emissions from venting, pipeline leaks, and the amount of trucks required to transport materials. Although these risks are known, the oil and gas industry is exempt from the Safe Drinking Water Act, the Clean Air Act, the Clean Water Act, and other federal environmental laws. This absence of federal regulation leaves the individual states to enforce their own laws. Furthermore, EPA…

Oil in or on the water is extremely hurtful to wildlife. For example, if an animal lands in an area with oil it may try to clean itself in the toxic petroleum. Doing this can cause an animal to ingest the oil and damage internal organs and the reproductive system. Even if the oil does not kill the animal instantly it can cause long term damage and result in deformed offspring. Immediate impacts of oil are it could get coated into birds' feathers such as cranes or seagulls which causes them to…

Today the United States, is edging closer to energy independence as we push towards relying on our own resources here in America. Although, we are still years from it the U.S. has cut foreign oil imports in the past decade by nearly 60 percent. Despite the harmful effects drilling for oil has on the environment, and wildlife there are still many reason the U.S continues to import. Considering oil has been the back bone to the world’s economy for decades, we need to take control by putting…

experienced the Gilded Age that made America the industrial powerhouse that it is today. Not only do these resources supply us with transportation and countless other material items but because of how large the industry is it accounts for tens of thousands of jobs within the three sectors of the industry. Every year oil and gas are becoming rapidly more important. The phenomenon of oil and gas is not new, they have played roles in history since early civilization. several ancient cultures used…