produces two million of barrels of crude oil a day‚ though despite this‚ it relies solely on importation to sustain its refined-fuel needs. This is because its four refineries fail to function effectively and continue to operate beneath capacity. Governmental mismanagement and political corruption are some of the reasons why Nigeria’s refineries remain in this state. The Nigerian government therefore implemented subsidies in order to minimise and control prices for its imported petrol. These subsidies
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1. What is in Gasoline? Gasoline is produced from a dark substance extracted from miles beneath the surface‚ called crude oil or petroleum. Millions of years ago‚ crude oil was created from fossil fuels of dead animals and plants that sank into the ocean’s bottom underneath rocks‚ dirt‚ and dust. Over time‚ the seclusion of corpses caused heat and pressure to increase instigating the bodies to decompose; and due to lack of oxygen‚ the remains formed mixture of chemical organic compounds made of hydrogen
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Many of the tankers of Palm Haul Sdn. Bhd. that do not reach the refineries are found abandoned by the roadside and empty with the drivers are missing. 2. Rising compensation to crude palm oil shortfall Palm Haul Sdn. Bhd. has to compensate the refineries for the amounts of crude palm oil that is short delivered. The tankers are loaded with the amounts stated in the delivery orders and by the time the tankers arrive at the refineries‚ the quantities delivered are short. This usually occurs during
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Although the United States holds position as a major consumer of oil‚ our nation solely alone as minute effects on crude oil cost‚ even for refineries in our own country. According to an academic journal by Edwin Slade titled‚ The Keystone Pipeline Addition: Assessing the Potential Benefits of Reduced Gasoline Prices and Increased National Security‚ U.S. refineries’ crude acquisition cost change with geopolitical events‚ such as increasing oil demands in foreign countries such as China and those in the
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PETROLEUM I. HISTORY The petroleum industry includes the global processes of exploration‚ extraction‚ refining‚ transporting (often by oil tankers and pipelines)‚ and marketing petroleum products. Petroleum in an unrefined state has been utilized by humans for over 5000 years. Oil in general has been used since early human history to keep fires ablaze‚ and also for warfare. The largest volume products of the industry are fuel oil and gasoline (petrol). Petroleum is also the raw material for many
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References: Bradsher‚ K. (2011‚ March 8). Mitsubishi is quietly cleaning up a former rare earth refinery. The New York Times. Retrieved from http://www.nytimes.com/2011/ 03/09/business/energy-environment/09rareside.html Mankiw‚ N.G. (2009). Principles of Microeconomics (5th ed.). Australia: Cengage Learning Mariam Mokhtar (2011‚ April). Ipoh and Pahang
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Summer Training Project Report On “Ratio Analysis and Comparative Study of Financials of IOCL with its Competitors” Submitted for partial fulfilment of the Award Of Master of Business Administration DEGREE (2011-2013) SUBMITTED BY ARUSHIBHUTANI 1103270034 UNDER THE GUIDANCE OF Internal Guide:JayaPandey School of Management ABES ENGINEERING COLLEGE‚ GHAZIABAD AFFILIATED TO MAHAMAYA TECHNICAL UNIVERSITY‚ NOIDA Candidate’s Declaration/Certificate I “ARUSHI BHUTANI” hereby
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BP plc[3][4] (LSE: BP‚ NYSE: BP) is a British multinational oil and gas company headquartered in London‚ United Kingdom. It is the third-largest energy company and fourth-largest company in the world measured by 2011 revenues and is one of the six oil and gas "supermajors".[5][6] It is vertically integrated and operates in all areas of the oil and gas industry‚ including exploration and production‚refining‚ distribution and marketing‚ petrochemicals‚ power generation and trading. It also has renewable
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Kuwait oil and gas report from Researcher is an initial guide‚ providing information on fields‚ blocks‚ storage‚ LNG‚ refinery and pipelines in Kuwait. Amidst the rapid changes in operational environment in Kuwait oil and gas sector‚ the report provides complete details of how the industry will emerge by 2025 with forecasts of oil‚ gas production and demand‚ gasoline‚ diesel‚ LPG and fuel oil supply- demand outlook‚ primary energy demand‚ GDP and population forecasts. All potential investment
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of the crude oil. A company needs to invest billions of dollar to drill the earth and explore the oil sands. The process is called as Upstream in the oil industry. Once they found the oil sands‚ they have to take the crude oil and send it to the refineries which needs to extract the specific usable products like
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