In 1958, oil was first discovered in Nigeria. The discovery has led to the transition from agriculture-based economy to that of oil economy. One would believe that a country that produces a numerous amount of oil used to support the world with energy would have improved domestic infrastructures and economic development. Unfortunately, this is not the case in Nigeria. Nigeria has suffered since the discovery of oil and is still suffering till this day. Not only has it created conflicts between other
economic growth has seen rapid development, led by the extraction and commercialization of it’s oil reserves. Of key importance, one must note that the intricacies of South Sudan’s ability to extract oil is highly associated with the easing of military tensions. And indeed, with the recent “lifting of threats by the Sudanese president, Omar al-Bashir, to shut down the South Sudan oil flow…in Juba,” (“SOUTH SUDAN: Oil Production Up,” 2013) GDP has increased, indicating a (theoretical) increase in overall
Drilling for Oil in the Arctic National Wildlife Refuge Throughout American history, there have been a number of conflicts and disagreements among the populace over various issues. These conflicts of interest help to define political parties and allow people to distinguish themselves through party allegiance. One such item that is currently being debated is over the idea of drilling for oil in the Arctic National Wildlife Refuge. For years, environmentalist groups and oil industry supporters
glittering surface of gold with a rotten core beneath. This was a time period full of greed and guile, filled with robber barons, speculators, and Buccaneers. Not only that, but there were many sneaky business schemes to get more income, improper politics, and many impolite displays. Although, it’s better to think of this time as modern America’s formative period where small companies were transformed into an urban society dominated by industrial corporations. Factors to the Gilded Age There are
model are referred to products from others industry. In this case, substitute products are the renewable energy sources such as nuclear power, solar power, coal, and wind power, which have high production cost and sunk cost. Therefore, the threat of substitute to Afren is still low. Bargaining Power of Buyers ( HIGH ) As the growth in the shale, oil market is continuously increased the input of oil supplies in the market by 11 per cent, which make an oil price fall cause of overwhelming supply (Meyer
British Petroleum, on April 20, 2010, or known as BP oil spill. The BP oil catastrophe ignited due to high-pressure methane gas by drilling a deep exploratory at Macondo well, reported by Up Stream Online news. The Gulf of Mexico oil spill still outlasts as a great size accidental marine oil spill in the records of the petroleum industry. The date, report details, and location were based on a doctrine of New York Times. Multiple consequences of BP oil spill include business, environment of the Gulf of
Association and a highly respected individual in international politics, economics and power. Despite being a Pulitzer Prize Winner, he is also the recipient of the 1997 United State Energy Award for his achievement in power and the promotion of international understanding. He has written extensive accounts on the global changes towards political and economic destiny of the world since WWII. His book ‘The Prize: The Epic Quest for Oil, Money and Power’ published in 1992, which depicted the turmoil
Production costs. According to Wagner (2008) oil is grated by its viscosity (light to heavy) and by the amount of impurities it contains (sweet to sour). The heavy/sour crude is more available, but less preferred as it contains impurities and needs more processing to refine into gas. The cost of processing heavy/sour crude oil is high; this is why the price of sweet/light crude oil is much higher than heavy/sour crude oil. So, high production costs of gas make the supply elasticity lower. Transportation
1.0 EXECUTIVE SUMMARY This report provided a research and analysis using the analytical tools to present the potential venture in the maritime tanker industry. Methods of analysis consist in this report is the PESTLE Analysis, which can be separated into Politic, Economic, Social, Technology, Legal and Environment. Besides, another analysis used is the Strength, Weakness, Opportunities, and Threat (SWOT). The company that included in this analysis is DHT Holding Inc. All the source can be found
roduction costs. According to Wagner (2008) oil is grated by its viscosity (light to heavy) and by the amount of impurities it contains (sweet to sour). The heavy/sour crude is more available, but less preferred as it contains impurities and needs more processing to refine into gas. The cost of processing heavy/sour crude oil is high; this is why the price of sweet/light crude oil is much higher than heavy/sour crude oil. So, high production costs of gas make the supply elasticity lower. Transportation