Wide-Ranging Trends That Impact the Oil and Gas Industry

v. One of the reasons for astounding growth of Houston – federal investment. More willing to go to federal government or state government.

Oil was first thought to be discovered in the state of Louisiana in 1868 by the Louisiana Oil and Coal Company fifteen miles west of Lake Charles. However, the Louisiana Oil and Coal Company was unsuccessful at drilling oil but the company did find extensive sulfur deposits. (Louisiana Mid-Continent Oil and Gas Association. (n.d.). Retrieved October 07, 2016, from http://www.lmoga.com/resources/oil-gas-101/history-of-the-industry/) Oil was first discovered in Louisiana on September 21, 1901. (Louisiana Mid-Continent Oil and Gas Association. (n.d.). Retrieved October 07, 2016, from http://www.lmoga.com/resources/oil-gas-101/history-of-the-industry/)

‘Peak oil’ refers to the prime of any field’s production, after which goes into terminal decline. Most major US oil fields are beyond peak oil. The largest US oil field, Prudhoe Bay, has been depleting since 1979 (Prudhoe, 2012). The US Energy Information Administration indicates much production, particularly in the Alaskan North Slope, depends on world oil prices (Energy, 2012). Geophysicists and politicians debate over specifications regarding overall US peak oil, arguing the year in which US peak oil occurred.

Oil in the Bakken region is boosting local economies but attracting a gritty scene Albertans know well

The book, Crude World: The Violent Twilight of Oil is a warning to the world about the great harms that have been imposed on people and the earth by our need and dependence on petroleum products. The story is much darker than most people know and Maass is hoping to change that.

The oil and gas industry is crucial to the U.S. economy and plays a central role in its environment, society, and economic development . The U.S. consumes more oil than any other country. Products derived from oil include medicine, recreational sports items, cosmetics, plastic, chemicals, transportation liquids, etc... This is to say, crude oil is the most important natural resource of the industrialized nations, as it has assisted in the technical expansion and discovery of new sources and production of existing oil fields (Wintershall, 2015).

James Buchan, renowned journalist and political pundit, stated in a 2006 edition of the New Statesman, “A century ago, petroleum - what we call oil - was just an obscure commodity; today it is almost as vital to human existence as water.” Had Mr. Buchan been writing this article today, it is likely that he would argue oil is more vital to human existence than water. There is no denying the human dependence on oil, relying on it to provide us light and heat, power our machines, and transport us throughout the globe. Almost forty years ago much of the western discourse on oil was dedicated to forecasting the future of oil, making predictions on where it would come from, who would control it, and how much it would cost.

British Petroleum is amongst the top major gas and oil companies. Its headquartered in London, England. British Petroleum is also ranked on the sixth position amongst the Gas and oil companies. British Petroleum is also into the production, exploration, distribution and marketing, refining, petrochemicals, trading and power generation(Al-Jubran & Bu Hassan,2009). British Petroleum has its operations in more than 80 other nations. It is the leader in the sector of gas and oil brands as compared to its competitors, and it is most reliable and trustworthy. British Petroleum is the first company which runs as per according with the interest of long run in energy. It has a strong presence in the UK market. It maintains its position being a leader in the market with its appropriate marketing tools and techniques which is not only beneficial for the company but it also is benefited to the customers. It maintains its profits by better usage of its reserves.

British Petroleum or BP is among the six largest oil and gas companies in the world with a large multinational presence. BP is a British multinational organization with headquarters in London, England, and that pursues commercial interests throughout the world. BP has a strong global presence due to its production and marketing operations in several regions of the world. The global operations of BP comprise a large geographical area due to the effective vertical integration of the organization in all sectors of the oil and gas industry. This organization is relatively gigantic as compared to other organizations of this industry and that is why several stakeholders trust its viability. BP manages operations in exploration, drilling, refining, production, distribution, and marketing of oil and oil based products including petroleum products. Although BP is a British organization, a large portion of the revenue of the company depends on foreign locations. BP relies on several international regions for achieving strategic objectives including the United States, Africa, Middle East, and Asia-Pacific. BP faces several cultural issues due to its interactions with stakeholders in various geographical locations.

Exxon Mobil Corp. is based in Houston, Texas. The company was created in 1999 through a merger of Exxon and Mobil. Both companies trace their roots back to Standard Oil, however, which was founded in 1870. Royal Dutch Shell was likewise created by a merger between Royal Dutch Petroleum of the Netherlands and Shell Transport & Trading of Britain. The company has annual revenue of over 400 billion dollars.

BP is one of the biggest petroleum and energy companies in the world. It has a truly interesting history that stated very early in the 20th century in Persia, when an Australian/British magnate decided to explore the country’s soil in search of petroleum. After the success of such expedition (That at some point almost failed) the company developed a rich market and expanded all through Western Europe, as well as some parts of Asia and Oceania. They also played a crucial role during the wars, by providing the British with fuels for their army.

Oil is one of the many natural resources on high demand. To safeguard the oil, countries’ producing it has to take caution in the exploration and the sale of their oil. This explains why some oil producing countries in such as Nigeria has found themselves in the scramble with big states like the U.S and the China, which are competing to get a share of the oil. The rush for the oil has attracted new political and economic forces, giving the petroleum industry a stiff-neck competition. Every state is interested in this rare and natural resource. The oil producing countries also is highly dependent on the oil and cannot, therefore, gamble with the idea of putting their economy booster at risk. Oil-producing countries like Nigeria are left with no option but to take great caution when dealing with new scramble for Africa. Nigeria produces large amounts of oil, enabling it to export 10-12 per cent of the oil to the U.S. Without proper evaluation and calculation of their dealings, they stand to lose miserably on their main source of income. The Middle East has over the past 15 years experienced a crisis as a result of interests in their oil by the U.S.

Within today’s culture, people are being led to believe in certain things, whether it be through the media, the government, environment, or their family and peers. We must be careful and ever vigilant when these actions take place. For it can led to the corruption of our worldviews if the information they provide is bias or incorrect. The corruption and control of one’s worldviews can cause one to be misguide into having poor judgment of a situation, or to form misconceptions of how the world works. This is why it is important to gather information from creditable sources and to question worldviews in hopes to overcome fallacies and evolve. An example of this is the wide spread misconceptions of the issue of oil sales and who collects the most profit from them. What most of the general population is led to believe based on their worldviews and previous experiences on this topic is shockingly false.

The exploration phase takes about 5 years. It involves looking for oil and gas using seismic surveys. There is about 10% certainty to find oil and 75% certainty to find any oil at all. The exploration costs for a conventional oil and gas onshore is $10 - $15 million whereas it is $10 - $100 million in the deepwater’s.

With today’s ever-changing, stressful environment individual job satisfaction is critical to the success of any organization. Today’s individuals are looking for more than a job; they are searching for a career that will challenge them, allowing them to grow and progress within the organization. They need a sense of accomplishment while allowing the flexibility to be creative. It is these employees who find satisfaction in their positions. They are more productive, efficient, and effective; contributing to success of the company. The purpose of this paper is to define job