Foreign Petroleum Industry V. S. Domestic Petroleum Industry The Petroleum Industry is a very important industry for our ever-changing world. As we know it, right now, the world pretty much revolves around oil and gas exploration and extraction. Almost everything that the world produces uses oil or gas in one way or another. Right now, the Petroleum Industry is very big and prosperous in the […]

Abstract Nigeria is a country which is endowed with considerable energy reserves. The oil and gas reserves found are some of the largest in the entire world. Multinational companies have been involved in the exploration and transportation of crude oil and gas in the country. The Niger delta region is the main area where the country’s rich energy reserves are found. The conduct of multinational […]

A territory is a large extent of land that belongs, or is under the jurisdiction of a certain government. It can also refer to a piece of land that is at a distance from the parent country or from the government itself (www.brainyquote.com, 2008). The certain places called territory are important to the groups of people that inhabit them due to several reasons. It is […]

Constitutional Reform: Impact on Oil Companies in Venezuela In date, October 14 of 2.007, the Mix Commission of the National Assembly (AN) share the report of the 58 Articles that are going to be discussed in order to reform the present Constitution. During this week, on the third session of parliamentary debates, delegates of the National Assembly are supposed to debate in detail the amendments. […]

September 2011 the price was $117. 99 per barrel. (Source US Energy Information Administration) Economics is the study of using resources in a productive manner and to allocate them in the best possible way. Economics is concerned with the production and consumption of goods and the transfer of money to create and get those goods. Economics tells us how people in the markets communicate in […]

Lorenzo’s oil questions 1. What was the full name of the boy in the movie? The boy’s full name is Lorenzo Michael Murphy Odone. What was the full name of the disease in the movie? The full name of the disease in the movie is adrenoleukodystrophy. Who can get the disease in the movie? (i. e. Sex, age, etc. ) Males can get the disease […]

CRUDE OIL REFINING OR PETROLEUM PRODUCTS IMPORTATION: WHICH IS ECONOMICAL FOR NIGERIA? ABSTRACT: One of the most crucial challenges facing Nigeria is being able to meet the energy need of the energy hungry populace; the exponential population growth makes it even more challenging. The approach adopted to meeting this need has impacted severely on the economy of the nation as reflected in the year-on-year economic […]

A Crude Awakening: The Oil Crash A majority of North Americans depend on oil, unaware of an inevitable oil shortage that threatens to collapse our industrialized nation, in the foreseeable future. If we continue ignoring our dependence on oil and not realizing its significance in almost every part of our lives, it will be the end of our society, as we know it. The documentary […]

INTRODUCTION Fluctuations of crude oil prices and the crisis of rising food insecurity have always been the main concerns of policymakers worldwide. Since the 1960s when oil was first discovered in Nigeria, oil has accounted for a large share of Nigeria’s export economy (Daramola, et.al, 2007). In 2000, for example, 99.6% of Nigeria’s export income came from oil, making it the world’s most oil dependent […]

Introduction: Types of Ships discussed: Bulk Carriers & Oil Tanker Here I discuss about two types of ships which are bulk carrier and oil tanker. The pictorial explanation gives general difference between both the vessels. Bulk Carriers: The name itself says that they carry products in bulk quantities. Ex: Edible commodities, raw materials and finished steel products. Bulk carriers can be with or without cargo […]