What drives the commodity price beta of oil industry stocks

We test theoretical drivers of the oil price beta of oil industry stocks. The strongest statistical and economic support comes for market conditions-type variables as the prime drivers: namely, oil price (+), bond rate (+), volatility of oil returns (−) and cost of carry (+). Though statistically significant, exogenous firm characteristics and oil firms' financing decisions have less compelling economic significance. There is weaker support for the prediction that financial risk management reduces the exposure of oil stocks to crude oil price variation. Finally, extended modelling shows that mean reversion in oil prices also helps explain cross-sectional variation in the oil beta.

Study on the Performance of a Compact Compound Oil/Gas/Water Separator for Offshore Oil Industry

High-efficiency separation of the oil/gas/water mixtures is a significant issue in offshore oil industry. To reduce the total cost by means of reduction in weight and space compared with conventional separators, a novel compact compound oil/gas/water separator is developed. The research works on oil-gas-water separation by compound separating techniques is described in this paper. The innovative separator is a gravity settling tank with helical pipes within and T-shaped pipes outside. Both experiments and numerical simulations are presented to study the separating performance and efficiency of the helical pipes, which are the main part of the separator.

Multiphase Flow Measurement in the Offshore Oil Industry

In recent years, considerable research has been conducted into the development of a three-phase flowmeter suitable for use in an offshore environment, and oil/gas/water three-phase metering becomes an important aspect in multiphase flow measurement. This paper discusses the importance of three-phase flow measurement in offshore oil industry, describes the current development in this area, and points out the principal strategies which may be used to meter three-phase flow.

The Impact of the Oil Industry on Water in Nigeria: How Adequate is the Law and its Enforcement?

Engobo, E., The Impact of the Oil Industry on Water in Nigeria: How Adequate is the Law and its Enforcement? 1 Benin Journal of Public Law (2003) 88-112 RAE2008

Small farmers and sustainability: institutional barriers to investment and innovation in the Malaysian palm oil industry in Sabah

The Malaysian palm oil industry is well known for the social, environmental and sustainability challenges associated with its rapid growth over the past ten years. Technologies exist to reduce the conflict between national development aims of economic uplift for the rural poor, on the one hand, and ecological conservation, on the other hand, by raising yields and incomes from areas already under cultivation. But the uptake of these technologies has been slow, particularly in the smallholder sector. In this paper we explore the societal and institutional challenges that influence the investment and innovation decisions of micro and small enterprise (MSE) palm oil smallholders in Sabah, Malaysia. Based on interviews with 38 smallholders, we identify a number of factors that reduce the smallholders' propensity to invest in more sustainable practices. We discuss why more effective practices and innovations are not being adopted using the concepts of, firstly, institutional logics to explore the internal dynamics of smallholder production systems, including attitudes to sustainability and innovation; and, secondly, institutional context to explore the pressures the smallholders face, including problems of access to land, labour, capital, knowledge and technical resources. These factors include limited access to global market information, corruption and uncertainties of legal title, weak economic status and social exclusion. In discussing these factors we seek to contribute to wider theoretical debates about the factors that block innovation and investment in business improvements in marginal regions and in marginalised groups.

Fish assemblages associated with oil industry structures on the continental shelf of north-western Australia

This study provides the first assessment of fish associations with oil and gas structures located in deep water (85-175 m) on Australia's north-west continental shelf, using rare oil industry video footage obtained from remotely operated vehicles. A diverse range of taxa were observed associating with the structures, including reef-dependent species and transient pelagic species. Ten commercially fished species were observed, the most abundant of which was Lutjanus argentimaculatus, with an estimated biomass for the two deepest structures (Goodwyn and Echo) of 109 kg.

Sustainable miracles : protection and competition in the Brazilian oil industry

It is often suggested that competition improves productivity, however, the underlying support for this idea is surprisingly thin. This paper presents a case study examining the e ects of a change in the competitive environment on productivity at the Petrobras, Brazil's state-owned oil company. Petrobras had a legal monopoly on production, re ning, transportation and importation of oil in Brazil until it was removed in 1995. Even though Petrobras continues to have a de facto monopoly, the end of legal monopoly labor productivity growth rate more than doubled. A growth accounting of the industry shows that between 1977 and 1993 output growth rate (and productivity growth rate) is explained by the accumulation of capital, while Total Factor Productivity (TFP) decreased. Between 1994 and 2000 labor productivity growth rate is completely explained by the growth rate of TFP. The results suggest that the threat of competition alone is su cient to improve productivity. They also provide evidence that restricting competition help cause Brazil's depression of the 1980s.

Reforms in the oil industry: the available options

Includes bibliography

User-producer interaction in the Brazilian oil industry: The relationship between petrobras and its suppliers of wet Christmas tree

The objective of this work is to analyze the importance of the user-producer interaction for the innovative process of the Brazilian oil industry from the 2000s. To do so, we selected two of the three providers installed in Brazil that produce the set of valves used in the oil wellhead to control its production, set which is called wet Christmas tree (WCT), the Norway's Aker Solutions and the American FMC Technologies. The results of this analysis indicate not only the development of the oil industry in Brazil is marked by a strategy of cooperative innovation, but they also reveal the importance of geographical proximity and direct cooperation, especially between the centers of engineering and research and development of companies. Furthermore, these partnerships are not limited to the adaptation of products to new needs, but they also include the development of new systems. © Universidad Alberto Hurtado, Facultad de Economía y Negocios.

Working in verticalized platform vessel: an ergonomic approach in the oil industry

In this paper we point some aspects of workers activities in offshore units in the oil industry. These units became more verticalized and have a greater number of operating systems. Our goal is to present the main difficulties that workers face in these units.

Johns-Manville service to the oil industry.

Mode of access: Internet.