Topic: IFRS and US GAAP in the Oil and Natural Gas Industry Summer 2013 July 17‚ 2013 Introduction Many countries in the world speaks many different languages when it comes to financial reporting. When one compare the accounting standards years ago to what is seen today‚ it’s shown that investors tolerated a great deal. As the markets are becoming global‚ investors are choosing the better global accounting standards that are available to them. For this reason‚ this paper will point out the International
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The global oil and gas industry also involves the exploration and production of commodity and energy trading‚ pipeline monitoring and renewable energy. Petroleum is proved to be one of the most valuable commodities in the world today and a vital factor in the sustenance of industrial civilization. Crude oil production accounts for a significant amount of the world’s oil consumption‚ approximately 53% in the Middle East‚ 32% in Europe and Asia‚ 44% in South and Central America‚ 41% in Africa and
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Introduction A gas is the state of matter that is characterized by having neither a fixed shape nor a fixed volume. Gases exert pressure‚ are compressible‚ have low densities and diffuse rapidly when mixed with other gases. On a microscopic level‚ the molecules (or atoms) in a gas are separated by large distances and are in constant‚ random motion. When dealing with gases‚ the Ideal Gas Law equation is the most famous equation used to relate all the factors in dealing and solving the problem
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Bayelsa‚ Cross River‚ Delta‚ Edo‚ Imo‚ Ondo and Rivers); being made up of 185 local governments of over 800 communities from 12 major ethnic groups‚ with a population of about 30 million people. The country is richly endowed with crude oil and natural gas deposits which are the main source of energy and foreign exchange earnings. “Blood may be thicker than water‚ but oil is thicker than both”‚ - Perry Anderson‚ New Left Review‚ 10‚ 2001‚ p.30. The exploration of oil in Nigeria started in 1908 with the
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weapons became popular. Poison gas‚ such as mustard and chlorine became the number one thing to use. Gas was invented to cause fear to the soldiers the army was fighting. The gas could cause death quickly over a few days which was why poison gas was the most feared of all the soldiers. Poison gas could be used when the soldiers wanted to knock out a large amount of people without having to do much. Gun shots from a machine gun were more common but using the gas put the soldiers in more pain which
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Professor Honeycutt English 1010 December 10‚ 2012 Gas Prices too high to pay Today gas prices have crept up to just over fifteen dollars a gallon. Due to rapidly depleted resources‚ the price of oil has gone to five hundred and thirty dollars; therefore the final price of gasoline had to increase. This has caused extreme violence to erupt all over the nation‚ especially at the gas stations themselves. People‚ in order just to fill up their gas tanks have had to sacrifice many things in their daily
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Cons of Natural Gas Drilling Gas drilling has had the most impact on Pennsylvania ever since it was discovered. Whether or not it would have a direct impact on the environment is the question everyone has. Or “is it too good to be true?” obviously there are flaws in the idea of natural gas drilling and I am going to point these out whether or not you see the obvious issues on the matter is for you too judge for one’s self. My final question to you is how many people really going to make a huge
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A Self Reflection: While working on the communication project‚ we were fortunate to have had Ron Howard’s “Apollo 13” movie for reference to comprehend the complexity the team faced upon the incident that befell the mission. Both Gene Kranz (Lead Flight Director and Project Manager) and Jim Lovell (Apollo’s commander) maintained absolute control of a chaotic situation. While the team was becoming intractable‚ Kranz reigned in by channeling the ideas with “one at a time people” and asking his engineers
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Coal Seam Gas What is it? Coalbed methane‚ also more commonly known as coal seam gas (CSG) in Australia‚ is a type of natural gas removed from coal beds. It has been labelled as an unconventional natural gas along with tight gas and shale gas. They are labelled as "unconventional" as a result of their unusual reservoir types. It is removed from coal seams that are 300 - 1000 metres underground‚ and it is mainly composed of methane gas. It is typically extracted by drilling a steel-encased hole
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Spend a day in my shoes: Spend a day in my shoes‚ the daughter of an abusive father. The night before my first day of high school I lay on my bed watching the clock. With every breath I took‚ my heart sank deeper. New friends‚ new teachers and a whole new beginning. Firm footsteps interrupted my train of thought. They carried an unpleasant feeling. Dense‚ accelerated and increasingly emphatic‚ they were approaching my room. My father busted into my room murmuring to himself. He reeked of smoke
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