scholarly journals Methods of minimization of uncertainties and geological risks based on Umid gas‑condensate field

Georesursy ◽  
2019 ◽  
Vol 21 (1) ◽  
pp. 92-98
Author(s):  
Elvin Hajiqulu oglu Ahmadov ◽  
Rasim Veli oglu Veliyev
Keyword(s):  
The State ◽  
Gas Condensate ◽  
Risk Matrix ◽  
Uncertainty Analyses ◽  
Oil Company ◽  
Hydrocarbon Reserves

Geological mining data resulted from exploration-prospecting and testing operations at Umid gas condensate field as one of important projects of the State Oil Company of the Azerbaijan Republic (SOCAR) have been systemized and analyzed in the article. There conducted uncertainty analyses of the obtained geophysical and mining data and hydrocarbon reserves on horizons have been estimated. Impact of uncertainties to hydrocarbon reserves of the field have been studied through modern approaches and geological risks have been assessed by usage of new risk matrix. Also, strategy of actions has been proposed in order to mitigate geological risks.

Contradiction of space, centralization of capital, and the hybrid state oil company: The case of Russia

2008 ◽  
Vol 1 (2) ◽  
pp. 59-71 ◽  
Author(s):  
Mazen Labban
Keyword(s):  
Oil Industry ◽  
The State ◽  
State Control ◽  
Hybrid State ◽  
Oil Companies ◽  
National Oil Companies ◽  
Russian State ◽  
And Control ◽  
Oil Company ◽  
A New Species

A new species of capital has emerged from the development of inter-capitalist competition in the oil industry. Oil-producing states have fused with financial and productive/extractive capital, foreign and domestic, into hybrid state oil companies. These are centralized monopolies that transcend the historical geographical opposition between private transnational oil companies and national oil companies. As partially nationalized state monopolies, they allow oil-producing states access to global capital markets, while retaining the control of the state over the flow of foreign capital into the domestic oil industry. They thus mediate the contradiction between the integration of capital at the transnational level and its territorial fragmentation at the national scale, only to internalize it in the process. I examine this process in the case of the ongoing consolidation of the Russian oil industry under state control, focusing on two inter-related contradictions: an attempt by the Russian state to liberalize the oil industry, yet shield it against the expansion and control of foreign oil companies; and the dependence of the state on foreign financial capital in the very process of consolidating control over the oil industry.

A COOPERATIVE APPROACH FOR MEASURING DIRECT-USE DAMAGES: THE 1992 AVILA BEACH (CALIFORNIA) OIL SPILL

1995 ◽  
Vol 1995 (1) ◽  
pp. 327-331
Author(s):  
Richard W. Dunford ◽  
Kristy E. Mathews ◽  
H. Spencer Banzhaf
Keyword(s):  
Data Collection ◽  
Oil Spill ◽  
Natural Resource ◽  
The State ◽  
Damage Estimation ◽  
Cooperative Approach ◽  
Shared Data ◽  
Reduced Costs ◽  
Oil Company ◽  
Direct Use

ABSTRACT A cooperative approach was used to estimate natural resource damages from the Avila Beach, California, spill. The approach was cooperative because we, on behalf of Union Oil Company of California (UNOCAL), and the economist working for the State of California shared data collection and damage estimation responsibilities. Cooperative assessments have several advantages, including reduced costs and less duplication. Because this case was not settled when this paper was submitted, we provide no damage estimates.

scholarly journals Pipe Dreams of the Nouveaux Riches

2021 ◽  
Vol 13 (1) ◽  
pp. 114-136
Author(s):  
Kristian Bjorkdahl
Keyword(s):  
The State ◽  
Rhetorical Practice ◽  
Early Validation ◽  
Oil Company

World expos are occasions for the type of rhetorical display known as "epideictic," and as such, they provide glimpses into how a nation wants to be seen at a particular point in time. In this article, I probe into Norway’s pavilion at the 1992 expo in Seville, Spain, for answers to what Norway wanted to be in the early 1990s. I will argue that Norway’s pavilion, a “deconstructed structure” that centered on a somewhat ambiguous pipe, signals a country in the process of reinventing itself under the aegis of petroleum. More specifically, I suggest that Norway’s ’92 pavilion can be read as an early instantiation of rhetorical techniques that would later become key to Norway’s claim to being both a leading petroleum producer and an environmental frontrunner. The pavilion itself pulled off this balancing act in much the same way that politicians and others would later learn to handle it – by techniques of rhetorical association and dissociation (Perelman & Olbrechts-Tyteca 1969 [1958]). Having chosen “the cycle of water” as the overarching theme for the exhibition, the makers of the pavilion (the largest sponsor of which was the state oil company, Statoil) managed to make petroleum safe by renaming it “offshore” and by associating it, also in many other ways, with water. The pavilion’s deconstructive architecture can thus be understood as an early validation of the rhetorical practice of “putting together” and “taking apart” to make new things that serve the nation’s interests – in this case a “cycle of water” in which petroleum was a natural part. Although I posit only similarity, and not causality, the rhetorical techniques of Norway’s ’92 pavilion were in this way strikingly similar to what later became a stock argument, e.g. that Norway offers “the world’s cleanest petroleum” (see Ihlen 2007).

Angola's new president will pursue further reforms

2017 ◽  
Keyword(s):  
South Africa ◽  
Regional Integration ◽  
The State ◽  
Media Freedom ◽  
Content Type ◽  
Oil Sector ◽  
Oil Company

Significance The announcement is the latest in a string of reforming measures undertaken by Lourenco since assuming power in September; last month he dismissed Isabel dos Santos, daughter of former President Jose Eduardo dos Santos, as the CEO of state-owned oil company Sonangol. Lourenco's overhaul of Sonangol’s leadership indicates a willingness to pursue seriously much-needed reforms in the oil sector, in addition to broader efforts to diversify the economy. Impacts Isabel’s departure from Sonangol could see a resumption of delayed licensing and project approvals. New editors at the state-run Jornal de Angola and TPA1 could prompt a partial increase in media freedom and a more critical press. The recent implementation of visa-free travel between South Africa and Angola should promote greater regional integration.

scholarly journals Diagnosis of the Concentration of the Colombian Upstream Market Sector and Proposals for Increased Competitiveness

2021 ◽  
Author(s):  
Eusebio Jose Orozco Cera ◽  
Maria Angelica Legarda Zuñiga ◽  
Juan Diego Medina Rueda
Keyword(s):  
Developing Countries ◽  
Direct Investment ◽  
Market Concentration ◽  
The State ◽  
Economic Uncertainty ◽  
National Budget ◽  
Unconventional Resources ◽  
Market Sector ◽  
Oil Company ◽  
Natural Hydrocarbon

Abstract Given the importance of the O&G sector (exports, national budget, royalties, etc.) in the economy of countries that possess this natural resources and the increased exposure of the economy of these to the cyclical dynamics of the O&G industry, it becomes necessary unequivocally an analysis and comparison of the most used market concentration measures applicable to the upstream framework that affect the distribution of oil production and reserves to determine proposals for an increase in competitiveness, in this case analyzing the metrics in the range 2004-2016 in Colombia. The process starts from collecting the most reliable information from different associations, regulators and sources, calculating the most used market concentration measures, considering assumptions for the statistical analysis of the data as tests of normality (Shapiro-WilK Test) and then analysis and comparison of the HHI as measure of concentration of the E&P upstream market in Colombia obtained conclusions and recommendations. Ideal values were determined and recommended according to better HHI references that would imply a less concentrated upstream sector and competitive advantage to the country regionally to attract foreign direct investment (FDI). An alienation and division of National oil company- NOC from the Colombian state is proposed, divide upstream into 3 E&P companies plus 1 Midstream Transporting Company + 1 Downstream Refining Company, it is recommended given the opportunity of a possible development of unconventional resources in the country, and the economic uncertainty at the beginning of these developments, that the opportunities for pilots and initial projects be by law and in principle distributed among various private E&P operators or in associations of the state company with experienced operators, this would distribute the exploratory risk of the projects, improve the sector's competitiveness and avoid unnecessary investment exposure to the state in these ventures. The objectives, methods, processes and results obtained can be homologated to other countries with NOC, showing a direct roadmap to follow so that the economic associated with natural hydrocarbon resources allow us to further leverage the development of societies in general, but mainly developing countries rich in these resources in an environment of low prices and increasing competitiveness.

scholarly journals A PROPÓSITO DE LA PRIVATIZACION DE PETRO PERU. Negocios Independientes o Integración Vertical

1995 ◽  
pp. 9-17
Author(s):  
Santiago Roca ◽  
Keyword(s):  
Strategic Alliances ◽  
Private Investment ◽  
Oil Industry ◽  
The State ◽  
Integrated System ◽  
Political Consequences ◽  
Industry Needs ◽  
Oil Company ◽  
Positive Results

It analyzes the various sales modalities raised in view of the privatization of the state oil company, Petroperú, mainly the modality of subdivision into independent businesses proposed by the Special Committee for the Promotion of Private Investment (Cepri) of this company. It finds that, apparently, the oil industry needs to operate vertically integrated; however, this possibility must be determined based on the market, the interlinking between the parties and the objectives to be achieved for the benefit of the country. On the other hand, the plan presented by Cepri combines transfer of ownership, strategic alliances with oil operators, concession and license mechanisms, but it would also establish the obligatory of a series of long-term contracts and regulatory mechanisms that would replace the internal transactions of an integrated system. Other options that could generate positive results are also analyzed, provided the necessary regulations are in place. Finally, it points out that in order to decide the best form of privatization, not only the costs, risks and business potential of each option must be evaluated, but also the political consequences and the benefits that the State would obtain from each one of them.

scholarly journals ¿Qué pasa con el petróleo colombiano?

2010 ◽  
Vol 53 ◽  
Author(s):  
Alicia Puyana
Keyword(s):  
Risk Sharing ◽  
The State ◽  
Medium Size ◽  
The Impact ◽  
Oil Company

RESUMEN: Colombia es productor y exportador medio de crudo con costos entre altos y moderados. En los últimos 20 años, transitó de los contratos de riesgo compartido a las concesiones y la privatización parcial de ECOPETROL. Los objetivos fueron incrementar las inversiones en exploración, prolongar la vida útil de las reservas y garantizar la autonomía energética nacional, los ingresos fiscales y de divisas. La evaluación de la privatización parte de la apreciación del estado financiero de ECOPETROL, las utilidades antes y después de impuestos y los cambios en la relación entre utilidades brutas y netas; regalías; dividendos e inversiones. Se prueba el supuesto de que la privatización de la empresa no era necesaria financieramente y que sí hay sacrificio de renta a favor de los inversionistas, sin mayores aumentos en inversión y reservas. Esta exploración pregunta cuál fue la razón de la privatización y cuáles sus efectos. En este sentido, contribuye a evaluar proyectos privatizadores similares. ABSTRACT: Colombia is a medium size oil producer and exporter with relatively high costs. Colombia transited from risk sharing contracts to a new version of concessions approved in 2004 and the privatization of part of the state oil company ECOPETROL. This article measures the impact of the concession contracts in terms of increased investments in exploration, production and reserves. The privatization is evaluated considering the increased value of the shares and the distribution of dividends compared with the trajectory of royalties, taxes and total investments. Small increases in production did take place and some reserves were discovered. The experiences of Colombia illustrate the reasons and effects of oil privatization for countries of similar characteristics.

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