THE HISTORY OF THE COVID 19, AND ITS IMPACT ON THE CRUDE OIL PRICE CHANGES (IN CONTEXT OF INDIA`S COVID 19 CONTEXT)

Oil is the most essential fuel for the world presently and the world, India is the third largest oil importer in the world, with 9.7 percent of the world oil imports, after China and USA, India imports around 80 percent of its oil needs and aims to bring down to 67 percent by 2022, by replacing it by local exploration, renewable energy and indigenous ethanol fuel, but in India there is lack of demand for crude oil and oil products due to Covid-19 epidemic, which made Indian government to imply restrictions, to lockdown of various firms, industries, public and private sector institutions, as health emergency, according to the report of IEA ( International Energy Agency) India’s 40 days lockdown has led to decrease in 30 percent fall in countries demand for energy. Price inflexibility is concern for Indian oil producers, as it is the biggest shock since the Second World War, The global economy is expected to enter recessionary zone in 2020, as countries have shut down there normal business activities, to fight the pandemic led to imbalances in demand and supply of oil prices in the Indian market, Indian oil companies are waiting for the tax reductions and packages by the government, in the short term imbalance in oil demand and supply situation. The purpose of the research paper is that, Indian government has a great task to fight against pandemic as a health emergency and oil prices fluctuations in the year 2020. KEY WORDS: History of the pandemic covid social growth and crude oil prices (PETROLEUM),

Evaluating the Downstream Development Strategy of Oil Companies: The Case of Rosneft

The relevance of this study is due to the low rate of development of the downstream sectors of Russian oil companies. Against a background of the sale of significant volumes of oil and gas raw materials, Russia lags behind world leaders in the production and consumption of petrochemical and chemical products, with their share in the gross domestic product of the country being only 1.1%. Connected to this is the issue of substantiating strategies of development for the downstream sectors of Russian oil companies, which requires detailed research. In this light, it is necessary to take into account current trends in the worldwide demand on petroleum products and also the opportunities and competitive advantages of Russian oil and gas companies in the creation and development of refineries with a consideration of modern technological, environmental, social and market criteria. The paper tests hypotheses about modernisation as a process of increasing efficiency in the development of the industry as a whole. The results of the study show that the planned pace of development in the industry by means of modernisation proves to be insufficient and requires additional investments in innovative development and new construction. The value of the research lies in the modelling of modernisation strategy options by the example of a large oil company, the estimation of results by the criteria of world average indices of technological efficiency of production and the analysis of these results by state indicators of branch development. The theoretical significance of the research lies in the possibility of using this research approach as an analogue.

Assessment of Oil Rent of the Russian Federation

The article presents the position of the author, relating to such an important economic concept as oil rent. The oil rent of the country, estimated in the world economic space, is determined and considered. A mathematical model is presented that allows calculating such rent using available statistical information. The method of obtaining initial data is described and the results of specific applied calculations are given. The interpretation of oil rents as super-profits of oil companies, established in economic science, affects, according to the author, only a part of the economic benefits that the country receives by developing its oil fields. If we consider such deposits as a natural gift, then it is possible, according to the author, to estimate the full size of this gift only as a result of comparing the real situation with the virtual one, in which there are no such deposits or they are, but are not exploited. The result of such a comparison is considered in the article as the oil rent of the country, estimated in the world economic space. As an illustration, the results of calculations of the oil rent of the Russian Federation for 2011, 2013, 2015 and 2018 are given. А brief analysis of the results obtained and their dependence on external economic circumstances is given. For the purpose of comparison, the calculation of the oil rent of Saudi Arabia for 2018 is given.

Rising Oil Pollution in Nigerian’s Niger-Delta Region What About Its Framing in the Print Media?

Cases of oil pollution have become a consistent decimal over the last twenty decades in most countries. The disagreement over who is liable for the massive oil pollution seen in some oil-producing countries worldwide has magnified tensions between significant stakeholders in those countries. This paper examines the rise in oil pollution in the Niger-Delta region of Nigeria and its framing by the print media through a quantitative content analysis method using news framing types developed by Semetko and Valkenburg (2000) among three Nigerian newspapers; The Daily Sun, The Guardian, and The Punch from 2014-2018. Specifically, the study findings show that The Daily Sun used more of the frames of responsibility (57.7%), economic consequences (63.3%), conflict (50.2%), and human interest (55.6%) in their oil pollution reports in the Niger-Delta. In contrast, The Guardian and The Punch used less of these frames, probably due to their laissez-faire attitude towards holding the oil companies accountable despite glaring evidence of environmental degradation.

The Impact of Sustainable Certification on Financial and Market Performance: Evidence from Indonesian Palm Oil Companies

The palm oil industry is a strategic sector that plays an important role for national economics. Although the palm oil industry's role and contribution are high, land clearing and operation are often associated with environmental and social issues. The sustainable certification was then developed to ensure that palm oil companies can continue to operate without involving environmental and social deprivation. The previous research related to the impact of a sustainable certification found several positive and negative impacts on palm oil companies' performance in general. Therefore, this study aimed to determine the impact of sustainable certification on Indonesia's palm oil companies' financial and market performance. This research focused on 14 palm oil companies in Indonesia that went public with an observation year between 2014 and 2019. Analysis through panel regression found that sustainable certification has no impact on Indonesia's palm oil companies' financial and market performance. The study could be a recommendation and justification for palm oil companies for consider to take a sustainable certification.

Ecocides as a Serious Human Rights Violation: A Study on the Case of River Pollution by the Palm Oil Industry in Indonesia

This study aims to analyse ecocides as a gross violation of human rights through a case study of river pollution conducted by palm oil companies in Indonesia. This article is methodologically distinctive from doctrinal legal research, primarily through a literature review. There are three main reasons for incorporating environmental concerns as an extraordinary crime of ecocide into serious human rights violations, especially those committed by several palm oil companies in Indonesia, namely: The quality of the Environment is the essence of human life that complements human dignity; environmental concerns and crimes in the tradition of extraordinary crimes are a response to the inability of national and even international environmental laws; and ensure restitution, rehabilitation and compensation to all victims of ecocide crime.

Corporate Communications in Contribution to Addressing Environmental Problems: Case Study of an Indonesian State Oil Company

This study aims to explain the corporate communication of state oil companies through CSR in contributing to overcoming the problems of peatland fires and coastal abrasion. This research uses a qualitative approach with case studies. Research findings indicate that Pertamina’s CSR communication targets farmer groups in dealing with peatland fires, namely establishing good relations, strengthening farmer group institutions, and connecting with other stakeholders or groups. Meanwhile, to overcome coastal abrasion, Pertamina empowers fishing groups in meetings, provides training and develops innovations to conserve mangroves. CSR communication to overcome the problem of forest fires and abrasion is carried out by developing ecotourism through community-based tourism (CBT). CSR activities are carried out with a limited area scale, so that it seems only for publication and corporate imagery. However, the company’s communication with CBT can be an effective communication model in making people aware of protecting the environment. The Peat Arboretum and Mangrove Education Center are not only tourist destinations, but also a medium of communication for environmental education for the community. Environmental communication is not only directed to the local community, school students, and youth, but also to visitors, for media coverage and discussions on social media. Corporate environmental communications must be integrated with communication channels and stakeholders to support sustainable environmental development.

The effective usage of APG surplus for oil-gas field on the example of carbon black production technology

Background. The present work is devoted to one of the key areas of research activity of the modern oil and gas scientific world: decarbonization and increasing the efficiency of the natural and associated gas usage. One of the eco-friendly ways of processing natural and associated gas is the production of carbon black (soot) from it. This method is also included in the list of best available technology (BAT). Nowadays, soot is a raw material for massive scale production of rubber products, which accounts for a large share of the manufacture of tyres, besides, carbon black is a valuable component in the paint-and-varnish and petrochemical industry (inks, plastics and many other things). The aim of the project is to assess the applicability of technologies for processing the surplus of associated petroleum gas (APG) into carbon black (CB). Materials and methods. The technology is based on the pyrolysis of hydrocarbons under the influence of high temperature with a lack of air. In the work, the following tasks were performed: CB market was studied; the analysis and choice of the optimal method for obtaining soot from APG for the N field, technological calculation, and selection of equipment and economic evaluation of the technology were performed. Results. Calculations have shown that the use of this method of APG utilization is cost-effective. The PI of the project is more than 2. Conclusion. The main advantages of this technology are: relatively low capital outlays, efficient gas utilization, reduction of carbon dioxide emissions into the atmosphere, additional income from the sale of a new product in high demand. The main disadvantage of this method of gas utilization is the lack of experience and practice of oil companies in the possibilities and methods of carbon black from APG.

Oil Exploration and Exploitation in Ugbo (Ilaje) Communities of Coastal Yorubaland

Coastal Yorubaland is one of the richest parts of Nigeria in terms of natural resource endowment. The area is blessed with extensive forests, good agricultural land and abundant water resources such as fish. It is also blessed with reserves of crude oil. This natural resource has attracted the attention of oil companies, whose activities often result in economic and social problems such as environmental pollution, occupational dislocation, cultural extinction and rural urban drift. However, the attitude of the people in this region, especially the militant youths, has also contributed to environmental degradation: oil pipe vandalization has become a constant occurrence, and it has a debilitating effect on the environment. Environmental devastation, economic poverty and constant conflict constitute a lived reality. Oil exploitation activities have also left much of the area desolate, poor and uninhabitable. This article argues that the effects of oil exploitation on Ilaje Ugbo communities are comparable to what occurs in other oil communities of the Niger Delta region of Nigeria.