CASE STUDY: AFTERMATH OF OIL PRICE ROLL BACK INTRODUCTION OF THE PROBLEM The Department of Energy (DOE) and Department of Trade Industry (DTI) had a recent investigation regarding the oil price in our market. They found out that the oil price is in need to be lowered in accordance in the changes in the International Market of Oil. The investigation shows that the price of oil is higher than it should be. The BIG 3 key players in our oil industry namely‚ Petron‚ Shell and Caltex as a response
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WHAT IS AN OIL SPILL? An oil spill is the discharge of a liquid petroleum hydrocarbon into the environment‚ especially marine areas‚ due to human activities‚ and is one form of pollution. An oil spill occurs when a vehicle‚ vessel‚ pipeline or drilling rig releases petroleum products into the environment uncontrollably. The first major oil spill on record happened when the Thomas W. Lawson schooner became beached in the Isles of Scilly in 1907‚ spilling 58‚000 barrels of paraffin oil into the
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|Oil & Gas Industry:Past‚ Present and Future Sudha Singh At Independence‚ India ’s domestic oil production was just 250‚000 tones per annum. The entire production was from one state-Assam. Most foreign experts had written off India as far as discovery of new petroleum reserves was concerned. The Government announced‚ under Industrial Policy Resolution‚ 1954‚ that petroleum would be the core sector industry. Preamble Petroleum exploration
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accountable for all economic retribution financially and environmentally. The oil rig was under contract by BP and according to the Oil Pollution Act of 1990 it stipulated that those parties responsible for the rig or facility which oil is being discharged from—is the responsible party held liable for cleanup costs. The conflict revolves around the fact that BP failed to clean-up the oil after seven days of trying to cap three oil leaks in
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Crude oil is one of the world’s most important natural resources. Over the past six decades or so‚ crude oil – because of the products derived from it‚ has become highly indispensable in our everyday lives. Despite being a non-renewable resource‚ it is still used extensively in power generation. It can be argued that industrialization owes its development to crude oil. Even though efforts are ongoing in the search for alternative fuels‚ as of today there is no effective substitute for oil. This
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Oil is one of the most important resources that empower the economy. It is mainly used for transportation‚ cooking‚ heating‚ and also electricity generation. Without oil‚ transportation‚ manufacturing‚ and production of food may not be possible. Oil came from fossils and dead organisms that submerged to the bottom of the ocean‚ or what we so called Oil Wells. It was collected by oil rigs by digging the bottom surface of the ocean. Deepwater Horizon oil spill is one of the biggest and controversial
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Environment and Scientific Coordinators Workshop 2004 The Environmental Impact Of Marine Oil Spills Effects‚ Recovery and Compensation Dr. Brian Dicks Technical Team Manager‚ International Tanker Owners Pollution Federation Ltd Paper presented at the International Seminar on Tanker Safety‚ Pollution Prevention‚ Spill Response and Compensation‚ 6th November 1998‚ Rio de Janeiro‚ Brazil INTRODUCTION The short-term effects of oil spills on marine species and communities are well known and predictable. However
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PFAD MANUFACTURING PROCESS Crude Palm oil is extracted from the mesocarp of the fruit of the palm Elaeis guineensis. Crude palm oil (CPO) is refined by physical refining to get Refined‚ Bleached and Deodourised Palm oil. Palm Fatty acid distillate is produced as by product. The method of manufacturing of PFAD is as follows: The initial temperature of CPO is raised to 60 – 90°C. . After that‚ there is about 20% of the CPO feed to into the slurry and mix with the bleaching earth (6
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Deepwater Horizon Oil Disaster Conflict Kris Stephens BUS 5903 Conflict Resolution Dr. Jacqueline Gilliard Kstephens1@twu.edu August 22‚ 2010 Executive Summary British Petroleum (BP) is one of the largest oil companies in the world. They have recently been making the headlines for all the wrong reasons after suffering a record breaking oil spill in the Gulf of Mexico. Tony Hayward‚ former CEO‚ has been criticized for his handling
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Shell’s History: In 1833‚ a man named Marcus Samuel began selling seashells in London‚ eventually expanding into a thriving import-export business. In 1892‚ the first oil tanker was commissioned‚ to deliver kerosene from Russia to Singapore and Bangkok. During this time‚ the Royal Dutch was forming to develop oil fields in Asian regions‚ and by 1896‚ Royal Dutch had a fleet of tankers. In 1907‚ Shell and Royal Dutch merged after realizing the benefit of working together. In the early 1920’s‚
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