Exploring and measure the performance of the Indian petroleum supply chain

PurposeThis research identifies the supply chain performance indices and designs an evaluation framework to assess and compare the Indian petroleum supply chain performance. We presented a case study of three Indian petroleum companies. For this purpose, we identified fifteen performance criteria extracted from previous literature and expert inputs and classified them into four groups.Design/methodology/approachA fuzzy technique for order preference by similarity to the ideal solution (TOPSIS) method is employed for evaluating the performance of the Indian petroleum supply chain.FindingsThe design and evaluation framework suggests that the top three performance measurement criteria, the purity of the products, compliance with environmental laws, and new technology adoption. The result findings also indicate that company C contributes to a maximum satisfaction level of 77%. Simultaneously, companies A and B hold satisfaction levels of 72% and 67%.Practical implicationsThe managers should ensure that environmental standards, new technology adoption, and quality are significant concerns in the petroleum supply chain. The managers should follow national and international policies to preserve the environment and ensure safety in operational activities.Originality/valueThis paper makes two contributions in the domain of performance measurement of the petroleum supply chain. First, it identifies the prominent supply chain performance indices. Second, it proposes a model to assess and compare the performance of Indian petroleum companies.

The Extent of Applying ISO 14001 Requirements in the Environmental Auditing Practices of Iraq

The research aims to evaluate the environmental auditing practices in the petroleum sector of Kurdistan Region of Iraq by measuring the application of ISO 14001 requirements, diagnosing the main environmental auditing practices, reducing the negative effects of the organization's activities on the environment and complying with local and international laws related to the environment. Also, determining the most important weaknesses in environmental auditing practices of the petroleum companies in Kurdistan region of Iraq. Therefore, the importance of this research stems from the value of applying the requirements of ISO 14001 in environmental auditing practices to enhance sustainability, reduce pollution, conserve the environment, and reduce the negative effects of the organization's activities. The researcher designs a questionnaire according to the ISO 14001 requirements in order to evaluate the quality of environmental auditing practices in a sample of petroleum companies. The researcher concludes that the level of environmental auditing practices in Iraq is acceptable, and the ISO 14001 requirement can be applied easily with some instructions, institutional awareness, governmental follow-up and public review.

Assessment of Influence of Process Safety Culture on Employee Attitude towards Violations in Selected Petroleum Companies, in Niger-Delta

The study examined Influence of Process Safety Culture on Employee Attitude towards violations in Selected Petroleum Companies, Niger-Delta. A descriptive cross-sectional oilfields based study. Study utilized non-probability sampling method combining purposive, convenience and quota sampling techniques. Purposive sampling is centred on the intent or purpose of the study. The research was a descriptive cross-sectional study, the population was made up of a sample size of one thousand workers of the processing unit of ten selected International Oil Companies (IOCs) and Local Oil Companies (LOCs) selected by convenience sample techniques. The study adopted Regression analysis for testing and modelling the research hypothesis. Before carrying out regression analysis, multicollinearity was checked to know if it is good fit for regression analysis on SPSS IBM 20 version. Outcome of the test shows that; regression analysis was acceptable because the Variance Inflation Factor (VIF) of the checked multicollinearity was 1.000 which means there was no awkward multicollinearity. This study adopted the 95% confidence level and 0.05 significance level. The study discovered that process safety culture influences employees’ attitudes toward violations in Oil and Gas industries with positive coefficient of standardized coefficient(β) of 0.397 and p-value 0.000 less than the significance level 0.05 and t-statistics being 12.354. It is recommended that ways to motivate employees to adopt the safety habit should be adopted and may be done using the carrot and stick method propounded by Abraham Maslow. Management must learn to choose the most suitable approach to motivate employees to abide by the safety expectations of their organisation. Awards can be given at the end of every quarter to the most safety conscious employee or acts of recognition or even monetary rewards. For employees who do not obey safety rules when positively motivated, penalties, fines, punishment.

Main financial instruments used by petroleum companies

In this article the author considers the key financial instruments used by fuel multinational corporations, which are necessary for financing corporate needs. The structure and dynamics of the share capital of the main players in the domestic oil business market are analyzed. Derivatives are characterized as an essential part of oil trading.

Stratigraphic Lexicon: The Onshore Cenozoic Sedimentary Formations of The Republic of Panama

The stratigraphic knowledge of Panama was, until now, spread over hundreds of scientific/geologic publications written during the past 120 years. The construction of the Panama Canal during the early twentieth century helped galvanizing the engineering and geological disciplines to understand the tectonic, sedimentation and biodiversity of the Cenozoic Era in this part of the world. Later, few petroleum companies arrived on the scene and contributed to our knowledge of the sub-surface. The past thirty years saw a surge of studies by many institutions in areas away from the Canal, such as in Darien, Azuero Peninsula, Bocas del Toro, and the Burica Peninsula near the Costa Rica Border. Our most recent knowledge came from the widening of the Panama Canal between 2007 and 2016. It is from all these older and recent studies that the present Lexicon draws its content. It provides the historical background of all described geological units in Panama and summarizes the lithological and paleontological knowledge of each units in an easy-to-search format.

A comparative study of the impact of sanctions on the oil and cement companies listed in Tehran Stock Exchange: Forecasting and Future Trends

Imposing sanctions can have several malicious effects on a developed or developing economy and Iran is not an exception to this matter. The main purpose of this paper is to determine whether imposing oil sanctions have a significant impact on oil, gas and petroleum companies’ capital structure or not. Furthermore, a comparison between oil industry and cement industry and a prediction of oil companies’ capital structure trend are conducted. The most innovative aspect of our study is to evaluate the influence of sanctions on a firm-specific variable rather than macroeconomic level. To address this problem, we investigate oil and cement companies listed in Tehran Stock Exchange from 2006 to 2018. The leverage ratio indicating capital structure, sanction dummy variable and ROA, tangibility of assets, capital market return, economic growth and inflation rate are dependent variable, independent variable and control variables, respectively. The data are obtained from companies’ financial statements and we use OLS regression to estimate our equations. The results indicate that the 2012 oil sanctions against Iran affect the oil companies’ leverage ratio negatively and the future trend reveals that the share of equity in capital structure will increase. Moreover, we inspect no significant relationship between oil sanctions and cement companies’ capital structure. Therefore, government policymakers should plan strategies to lift or limit the oil sanctions and oil corporate managers should find some reasonable routes for balancing their companies’ capital structure to exploit debt financing benefits.

Organisational Structure and Strategic Business Success in the Petroleum Industry in Uganda

This paper explores the relationship between organisational structure (ORG) and strategic business success (SBS) in the petroleum industry in Uganda. ORG was measured using span of control (SPOC), coordination of functional units (CORD), centralisation (CENT) and decentralisation (DECE). The study premised on institutional theory. The population was 347 licensed petroleum companies in Uganda and a sample of 186 was distributed and 174 used for analysis. The study used a survey research design. Regression and correlation were used to do analysis. The study used a self-administered questionnaire and semi-structure key informant interviews. Findings indicate that ORG has positive and significant relationship with SBS, although DECE and CORD make bigger contributions to ORG and ultimately SBS, CENT to a less extent. It is recommended that to generate more value, organisations should adopt CORD and DECE. It is concluded that petroleum companies should strengthen and manipulate DECE and CORD to meet the growing need of the petroleum industry. The study concluded that ORG does predict changes in SBS and is an important predictor of SBS.