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2021 ◽  
Sun Zhaocai ◽  
Wang Tinbin ◽  
Ye Deliao ◽  
Song Guojun

Significance The oil and gas giant cited the country’s 15% dividend tax on some types of shares as a key reason behind its decision, while in recent years the company has been subject to climate litigation in the courts. Impacts The government will be significantly more vigilant and protective of key industrial players such as semiconductor producer ASML. Farmers' protests are likely to increase amid worsening constraints over climate regulation and competition for space. Successful legal action over climate change in the Netherlands will encourage similar action in other countries.

K.F.A. Ibrahim ◽  
Ademu Sylvester Onyekachi

This study examined effect of corporate social responsibility (CSR) on investment efficiency of quoted oil and gas firms in Nigeria. The study employed Ex post facto research design. The sample size of seven (7) oil and gas firms was derived from the population of the quoted twelve (12) oil and gas firms in Nigeria. Judgmental approach was employed during the sampling procedure.  The study used secondary data sourced from the annual reports of the quoted oil and gas firms in Nigeria Stock Exchange fact books of official lists covering a ten-year period (2010-2019). The study employed Multiple Regression Model as the technique of data analysis with the aid of SPSS 23 statistical software. Analysis of findings showed that CSR charitable donation expenditure, CSR expenditure on education and CSR societal expenditure reveal significant relationship with investment efficiency of oil and gas firms in Nigeria. Nevertheless, CSR health expenditure and CSR environmental expenditure show insignificant effect on investment efficiency of oil and gas firms in Nigeria. The study also reveals that there is significant relationship between CSR sports expenditure and investment efficiency of oil and gas firms in Nigeria. With respect to the findings, the study recommends that the oil and gas firms should boost and monitor their CSR charitable donation expenditure, CSR on health expenditures, CSR environmental and CSR sport expenditures and observe them closely since they reveal negative effect. The study also recommends that CSR expenditure on education and CSR societal expenditure should be upheld and sustained since they reveal significant positive effect on investment efficiency of oil and gas firms in Nigeria.

2021 ◽  
Vol 40 (12) ◽  
pp. 874-874
Antonio J. Velásquez ◽  
Wagner Moreira Lupinacci ◽  
Carlos Eduardo Molinares

Recent oil and gas exploration and development projects in Latin America, particularly in offshore basins, have increased the hydrocarbon resources of the region considerably. Geophysical technologies have played a significant role in the growth observed across the region, and those technologies will be crucial in the development of smart energy transition alternatives. That is what inspired this special section, which showcases a variety of technology applications, project scopes, scales, depths of investigation, and techniques, representing the diverse solutions required to tackle subsurface challenges in three major growth geographies: the Brazilian presalt, the Caribbean offshore, and the Gulf of Mexico.

Energies ◽  
2021 ◽  
Vol 14 (23) ◽  
pp. 8051
Matthijs Jan Kallen ◽  
Bert Scholtens

Investors increasingly need to account for concerns about non-financial performance and to consider the environmental impact of fossil fuel investment. We analyze how financial investors appreciate induced seismicity in oil and gas fields in the US and the Netherlands. We employ an event study to investigate the stock market reaction of investors in two fossil fuel majors, ExxonMobil and Royal Dutch Shell. We establish that stock market participants’ response is positively but weakly related to induced seismicity with ExxonMobil. This suggests that markets might interpret this seismicity as a signal of future productivity. With Royal Dutch Shell, there is no significant association, suggesting that their investors do not specifically appreciate its externalities. We conclude that the externality of induced seismicity goes unpriced.

2021 ◽  
Vol 28 (42) ◽  
pp. 142-162
Rapheal Oluchukwu Ugbor ◽  
Oliver Ikechukwu Inyiama ◽  
Cordelia Onyinyechi Omodero ◽  
Ethel Chinakpude Inyiama

Abstract This work evaluated the effect of entity characteristics on company social responsibility costs of oil and gas firms in Nigeria for 2010 - 2019. The independent variables of the study and measures of firm characteristics are total assets, total sales, financial leverage and firm age while the independent variable is corporate social responsibility. A sample of three firms was selected out of a population of eleven oil and gas businesses on the Nigeria Stock Exchange during the period. Supporting data were obtained from the selected firms and analyzed using multiple regression analysis. Findings from the analysis suggest that both total assets and total sales positively and significantly affect the corporate social responsibility costs of the firms. It was also found that financial leverage positively and insignificantly affects the corporate social responsibility costs of the firms. Finding further reveals that firm age negatively and insignificantly affects corporate social responsibility costs of the firms. In the light of the findings, it was recommended that the firm managers should invest in assets especially long-term assets that will yield future streams of returns for their firms. This is because investment in assets improves production and promotes the corporate social responsibility performance of the firms. It was also recommended that the firm managers should promote their products through various product promotion channels as total sales boast firm profitability and promote corporate social responsibility performance. It was further recommended that the firm managers should increase the proportion of debts in their firms’ capital structure. It was finally recommended that firm managers should use a modern approach while implementing their corporate social responsibility programs as opposed to the old style.

2021 ◽  
Vol 10 ◽  
pp. 62-71
Thu Hương Nguyễn ◽  
Thị Thanh Lê Nguyễn

In recent years, the oil and gas industry has been facing objections from a public greatly concerned with the severe environmental impact caused by fossil fuels and their infrastructures, and strong demands from policy makers seeking to meet decarbonisation goals. Amidst a global energy transition, the future demand, finance, and social responsibilities of oil and gas companies are increasingly in question. One of the biggest problems of the industry is what are the “green” solutions for the late-life offshore oil and gas assets. Energy integration with reusing or repurposing oil and gas assets for new technologies could be a worthwhile investment strategy helping reduce carbon emission from oil and gas production as well as accelerating carbon capture and storage (CCS) and green hydrogen development to support the global decarbonisation. According to research, the late-life offshore oil and gas assets play an important role in energy integration while helping to have more opportunities to develop the new technologies that are in the early stages of development with high capex, necessary to make them more economically attractive and facilitate maximum energy integration. Reusing or repurposing oil and gas infrastructure can lead to 30% capex saving and million tons of CO2 pa emission reductions. In this paper, potential concepts of energy integration for offshore oil and gas assets are introduced, and some lessons learned and implications for reusing or repurposing late-life offshore assets for Vietnam are also presented.

2021 ◽  
Vol 9 ◽  
Donglei Jiang ◽  
Wenbo Meng ◽  
Yi Huang ◽  
Yi Yu ◽  
Youwei Zhou ◽  

The subsea production system is presently widely adopted in deepwater oil and gas development. The throttling valve is the key piece of equipment of the subsea production system, controlling the safety of oil and gas production. There are many valves with serious throttling effect in the subsea X-tree, so the hydrate formation risk is relatively high. In this work, a 3D cage-sleeve throttling valve model was established by the numerical simulation method. The temperature and pressure field of the subsea throttling valve was accurately characterized under different prefilling pressure, throttling valve opening degree, and fluid production. During the well startup period, the temperature of the subsea pipeline is low. If the pressure difference between the two ends of the pipeline is large, the throttling effect is obvious, and low temperature will lead to hydrate formation and affect the choice of throttling valve material. Based on the analysis of simulation results, this study recommends that the prefilling pressure of the subsea pipe is 7–8 MPa, which can effectively reduce the influence of the throttling effect so that the downstream temperature can be kept above 0°C. At the same time, in regular production, a suitable choke size is opened to match the production, preventing the serious throttling effect from a small choke size. According to the API temperature rating table, the negative impact of local low temperature caused by the throttling effect on the temperature resistance of the pipe was considered, and the appropriate subsea X-tree manifold material was selected to ensure production safety. The hydrate phase equilibrium curve is used to estimate the hydrate formation risk under thermodynamic conditions. Hydrate inhibitors are injected to ensure downstream flow safety.

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