Economic Aspects of the Sustainable Technological Development of the Oil and Gas Industry in the Context of Low Oil Prices and the Current Situation in the Energy Markets

2018 ◽  
Author(s):  
Leontiy V. Eder ◽  
Irina V. Provornava ◽  
Anna A. Kulik ◽  
Vasily Yu. Ncmov
Keyword(s):  
Oil And Gas ◽  
Technological Development ◽  
Oil Prices ◽  
Oil And Gas Industry ◽  
Energy Markets ◽  
Current Situation ◽  
Economic Aspects ◽  
Gas Industry

What Does Rent Give to Federal Budget (on the Russia's Budget Dependence upon "Oil Dollars")

2004 ◽  
pp. 51-69 ◽  
Author(s):  
E. Sharipova ◽  
I. Tcherkashin
Keyword(s):  
Oil And Gas ◽  
Strong Dependence ◽  
Oil Prices ◽  
Federal Budget ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Resource Rent ◽  
Tax Legislation ◽  
Russian Economy ◽  
The Government

Federal tax revenues from the main sectors of the Russian economy after the 1998 crisis are examined in the article. Authors present the structure of revenues from these sectors by main taxes for 1999-2003 and prospects for 2004. Emphasis is given to an increasing dependence of budget on revenues from oil and gas industries. The share of proceeds from these sectors has reached 1/3 of total federal revenues. To explain this fact world oil prices dynamics and changes in tax legislation in Russia are considered. Empirical results show strong dependence of budget revenues on oil prices. The analysis of changes in tax legislation in oil and gas industry shows that the government has managed to redistribute resource rent in favor of the state.

scholarly journals Optimization of Silver Nanoparticle Separation Method from Drilling Waste Matrices

Energies ◽  
2021 ◽  
Vol 14 (7) ◽  
pp. 1950
Author(s):  
Monika Gajec ◽  
Ewa Kukulska-Zając ◽  
Anna Król
Keyword(s):  
Inductively Coupled Plasma ◽  
Oil And Gas ◽  
Produced Water ◽  
Technological Development ◽  
Drilling Fluid ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Inductively Coupled ◽  
Drilling Waste ◽  
Wastewater Samples

Significant amounts of produced water, spent drilling fluid, and drill cuttings, which differ in composition and characteristics in each drilling operation, are generated in the oil and gas industry. Moreover, the oil and gas industry faces many technological development challenges to guarantee a safe and clean environment and to meet strict environmental standards in the field of processing and disposal of drilling waste. Due to increasing application of nanomaterials in the oil and gas industry, drilling wastes may also contain nanometer-scale materials. It is therefore necessary to characterize drilling waste in terms of nanomaterial content and to optimize effective methods for their determination, including a key separation step. The purpose of this study is to select the appropriate method of separation and pre-concentration of silver nanoparticles (AgNPs) from drilling wastewater samples and to determine their size distribution along with the state of aggregation using single-particle inductively coupled plasma mass spectrometry (spICP-MS). Two AgNP separation methods were compared: centrifugation and cloud point extraction. The first known use of spICP-MS for drilling waste matrices following mentioned separation methods is presented.

CERTAINTY IN UNCERTAIN TIMES: CONSIDERING FORCE MAJEURE

2004 ◽  
Vol 44 (1) ◽  
pp. 761
Author(s):  
S.K. Dharmananda ◽  
N.A. Kingsbury
Keyword(s):  
21St Century ◽  
Airline Industry ◽  
Oil And Gas ◽  
Technological Development ◽  
Terrorist Attack ◽  
Oil And Gas Industry ◽  
Global Village ◽  
Gas Industry ◽  
Force Majeure ◽  
Oil Rig

Force majeure clauses are particularly relevant to at least two types of oil and gas agreements: operating agreements and long-term contracts. Each type of contract is characteristically exposed to calamitous events that can take many years to manifest. However, force majeure clauses in each type of contract need to reflect the commercial realities and bargain represented by each type of contract.This paper considers whether the types of force majeure clauses that are used in the Australian oil and gas industry would adequately excuse a party relying on them from performing their obligations under a contract in light of some very real 21st century concerns. The beginning of the 21st century has seen remarkable technological development and the creation of a global village where an isolated event in one part of the world can have a significant effect on the entire world. Therefore, the increased likelihood of a terrorist attack against significant infrastructure (eg. an offshore oil rig or gas pipeline) and the emergence of natural phenomena, particularly widespread viral outbreaks such as the SARS virus can have a devastating effect on industry globally, as is being seen in the airline industry. There is some doubt whether standard contract clauses will automatically treat such circumstances as force majeure events.The paper suggests that certain drafting conventions ought to be adopted to address 21st century concerns, and particularly to provide practical solutions for these issues.

scholarly journals Mathematical model of the optimization of technological development of oil and gas industry

2020 ◽  
Vol 2020 (1) ◽  
pp. 4-13
Author(s):  
M.I. Kaplin ◽  
◽  
V.M. Makarov ◽  
M.O. Perov ◽  
◽  
...  
Keyword(s):  
Mathematical Model ◽  
Oil And Gas ◽  
Technological Development ◽  
Oil And Gas Industry ◽  
Gas Industry

Contract Drillers and Causal Histories along the Gulf of Mexico

2003 ◽  
Vol 62 (3) ◽  
pp. 218-220 ◽  
Author(s):  
Thomas R. McGuire ◽  
Andrew Gardner
Keyword(s):  
Gulf Of Mexico ◽  
Continental Shelf ◽  
Oil And Gas ◽  
Oil Prices ◽  
Product Market ◽  
Oil And Gas Industry ◽  
Outer Continental Shelf ◽  
Gas Industry ◽  
Employment Insecurity ◽  
Significant Events

Corporate mergers in the oil and gas industry in the late 1990s were accompanied by reduced spending for exploration and drilling on the Outer Continental Shelf of the gulf of mexico, even though oil prices were skyrocketing. this lack of response to a favorable price environment is an anomaly for product market theories and can better be understood within a framework of causal history. This approach begins with significant events and traces specific causes and consequences. One significant consequence of the mergers is a redefinition of loyalty among a workforce exposed to increasing employment insecurity.

scholarly journals The Foreign Practice of Large Merger & Acquisitions in the Public Sector of the Oil and Gas Industry

2020 ◽  
Vol 25 (1) ◽  
pp. 39-52
Author(s):  
O.V. Shimko
Keyword(s):  
Public Sector ◽  
Oil And Gas ◽  
Oil Prices ◽  
Oil And Gas Industry ◽  
Annual Reports ◽  
Gas Industry ◽  
Share Capital ◽  
Market Capitalization ◽  
The Public ◽  
Control Premium

Subject. The article analyzes 12 major M&A deals in the public sector of the oil and gas industry in 2000–2019. Industry indicators are measured on the basis of data from ExxonMobil, Chevron, ConocoPhillips, Occidental Petroleum, Devon Energy, Anadarko Petroleum, EOG Resources, Apache, Marathon Oil, Imperial Oil, Suncor Energy, Husky Energy, Canadian Natural Resources, Royal Dutch Shell, BP, TOTAL, Eni, Equinor (Statoil), PetroChina, Sinopec, CNOOC, Petrobras, Gasprom, Rosneft Oil Company and LUKOIL. Objectives. I study on what terms M&A are concluded in the public sector of the oil industry and analyze the approval and changes in the current premium for control over the ratio of share capital to market capitalization. The article also evaluates how the above deals influenced the market capitalization of companies. Methods. The study employs methods of statistical analysis and summarizing official annual reports on financial and business performance and news releases of major State-owned oil and gas corporations. Results. Having analyzed 12 major M&A in the public sector of the oil and gas industry comprehensively, I traced trends in terms on which such deals are concluded and determined their consequences. Conclusions and Relevance. In the public sector of the oil and gas industry, M&A are found to depend on capitalization, but also sometimes refer to the difference between the market value of assets and liabilities. In the industry, share capital control premium is noted to grow, thus exceeding half of capitalization. Therefore, the least acceptable factors include a combination of high oil prices, commensuration of companies’ capitalization, compensation for share capital and high control premium. On the contrary, market capitalization significantly improved in case of deals implying the compensation with stocks, which took placed during low oil prices.

scholarly journals СURRENT STATE OF THE OIL AND GAS INDUSTRY AS A SOURCE OF DEMAND OF INNOVATIONS

2019 ◽  
pp. 68-76 ◽  
Author(s):  
A. Volkov ◽  
R. Shepelev
Keyword(s):  
Oil And Gas ◽  
Technological Development ◽  
Oil And Gas Industry ◽  
Innovative Development ◽  
Development Programs ◽  
Gas Industry ◽  
Foreign Companies ◽  
Current State ◽  
State Participation ◽  
Comparison Of The Results

Current state of innovative development in the oil and gas industry has been considered. The importance of the oil and gas industry for the economic development of the Russian Federation has been noted. Comparison of the results of research and development funding levels among domestic and foreign companies has been performed. A system of private indicators to assess the level of development of innovative activity of companies, taking into account the financial, production and technological indicators of companies, has been proposed. The results of testing this system of indicators have been adduced. The main approaches to the formation of Innovative Development Programs of companies with state participation have been considered. The main tasks of technological development for the domestic oil and gas complex have been highlighted.

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