Crude Oil Essay

drop of crude oil price on the Nigerian economy. The descriptive study will use secondary data from the Nigerian Central Bank (CBN) and the International Monetary Fund (IMF) to conduct the study and examine whether over dependency on crude oil sector production and export is detrimental and hurting production and exportation of other sectors such as agriculture, manufacturing and service sectors. The variables for this study therefore are the production and exportation data of crude oil, agriculture

Transporting Crude Oil by Rail: Overview of Policy Issues and Options By: Alicia Tighe Contents Overview 1 Timeline 2 Recent Activity 2 Policy Issues and Options 3 Oil spill response planning 3 Liability 4 Route planning and selection 4 Classification of hazardous materials 5 Tank car standards 5 Safety requirements and inspections 6 Emergency response notification requirements 6 First responder training and equipment 7 Overview A rapid increase in the transport of crude oil by rail will require

large and massive demands of oil (Iron Mountain, 2016). However, the above challenges can be addressed in the following ways: Pipelines used in the transportation of crude oil should be correctly placed (Iron Mountain, 2016). This requires good planning to be done by the local authorities to ensure that the pipelines are set up well. For instance, pipelines should not be closely located to the areas where people reside or carry out their daily activities because explosions are likely to occur

North-American Crude Oil Production Unlike Brent, North American crude production is up amid a "shale oil revolution." To capture this fact, we use two variables published by the EIA. The first, CANADA, is the weekly amount of Canadian crude imported into the Petroleum Administration for Defense's Midwestern District ("PADD 2") where Cushing is located. The second, RIGS, is a monthly count of rotary rigs operating onand off-shore in the 50 United States. Both series increase steadily over most of

MANAGING CRUDE OIL USING DERIVATIVES The present price markers for crude oil are WTI, Brent and Dubai/Oman. The crude oil derivatives contracts are traded on the New York Mercantile Exchange (NYMEX). The exchange acts as a regulatory body and as a financial trading forum for all the parties interested in buying the options. Members of the exchange carry out the trades themselves, or they act on behalf of the firms they represent through an open outcry auction held in the trading room or the floor

meek shall inherit the earth, but not its mineral rights.” (J. Paul Getty in Maass) 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. Peter Maass begins his book by saying “oil was all around me.” He was standing on a balcony in Bagdhad as the war was breaking out in 2003

Saudi Arabia exporting Crude Oil to India: Introduction: Saudi Arabia is the 5th largest export economy in the world. India and Saudi Arabia relations refer to the bilateral relationship between the Republic of India and the Kingdom of Saudi Arabia. Relations between the two nations is strong and close. India is now the world’s third largest importer of crude oil after the United States and China. Payment for International Contract: For importing crude oil from Saudi Arabia to India, the most

Keystone pipeline is a proposed crude oil pipeline that would be built from Hardisty, Alberta all way through Steele, Nebraska. It would stretch for 1,179 miles and it would transport up to 830,000 barrels of oil per day. The project was proposed by Trans-Canada to the United States government in 2005 and since then, it has been a controversial subject between the two neighbouring countries. The company argues that the pipeline would support more than 42,000 direct and indirect jobs while reducing

Crude oil, possibly the most important natural resource in today’s industrialized nations, is utilized in many different ways. From Gasoline and Diesel to waxes and lubricants, this versatile resource has become the most popular source of energy among most nations. A new Crude oil pipeline has been proposed by TransCanada that will transfer oil from Alberta, Canada to a few major oil refineries in the United States. The Keystone Pipeline has garnered support from many Americans, but it has also been

Relevant Literatures and Hypothesis Development Empirical studies on the relationship between crude oil prices and stock market returns date all the way back to the early 1970’s. Jones and Kaul (1996) have found a negative relationship between the oil prices and stock market returns. (Nandha and Faff, 2008; Sadorsky, 2001) Supports the fact that oil price changes also have been seen to have a positive effect on oil and gas industry returns. There have been many variables affecting the way in which this