Objective: The objective of this study was to examine the moderating effect of institutional quality in the relationship between oil rents and entrepreneurial start-ups for oil-rich countries in Africa. Research Design & Methods: The study employed panel regression techniques that included...

This paper, the first of two on global oil theft and fraud, discusses the prevalence, methods, and consequences of global oil theft, valued at US$133 billion per year and equivalent to 5-7 per cent of the global market for crude oil and petroleum fuels. However, the impact of oil theft is...

We show that the incorporation of offshore entities increases when oil and gas exploration licences are awarded. We exploit leaked data on the incorporation of shell companies and detailed information on tax havens and the awarding rounds of oil licences to construct a new data set covering 119...

This second of two papers on global oil theft discusses ways to reduce oil theft, misappropriation, and fraud. At US$133 billion per year, oil is the largest stolen natural resource globally, while fuel is the most smuggled natural resource. Oil theft equates to 5-7 per cent of the global market...

The purpose of this paper is to critically examine the multinational oil companies' corporate social responsibility (CSR) initiatives in Nigeria. Its special focus is to investigate the impact of the global memorandum of understanding (GMoU) on gender sensitive responses to climate change in oil...

The purpose of this paper is to critically examine the multinational oil companies' (MOCs) corporate social responsibility (CSR) initiatives in Nigeria. Its special focus is to investigate the impact of the global memorandum of understanding (GMoU) on gender difference in nutrition and health in...

With the market-oriented reform of China's oil and gas industry, market entry regulation in the field of oil and gas exploitation has gradually relaxed, and the number of firms entering this field and the total number of firms are increasing daily. However, since 2012, the number of firms...

The Milieudefensie et al v Royal Dutch Shell plc. landmark ruling establishes for the first time direct environmental liabilities linked to local damages caused by global emissions and deems a single company partially responsible for climate change, opening corporations to new legal jeopardy...

The passage of the Nigerian petroleum industry Act was accomplished 20 years after the conception of the law. On one hand, it aims to drive investment into the petroleum industry, owing to the power it seeks to afford oil companies to determine oil price at the downstream sector through...

The case, Hardy Exploration & Production (India), Inc. v. Government of India, Ministry of Petroleum & Natural Gas, before the United States District Court, District of Columbia (the “D.D.C”) is about dismissal of request for confirmation of an arbitral award based on public policy grounds...

Ghana's Tema Oil Refinery (TOR) has a capacity of 45,000 barrels per day. TOR had a total debt portfolio of $320 million by 2003. So far, the public has paid a total of $700 million under the Debt Recovery (TOR) Fund Act of 2003 (Act 624). The Act required that the tax only be used to pay out...

This work aims to up gradation of pyrolytic oil, produced from Delonix Regia Pod (DRP) through batch type pyrolysis process. During the process the yield rate of pyrolytic oil yield is maximum at 450°C and above 450°C, the yield rate of syngas increases than pyrolytic oil. Though the pyrolytic...

This quantitative research study investigated the relationship between US Central Bank interest rates and free cash flow of US listed shale oil and gas producing companies. The sample is limited to 27 publicly listed companies in the USA with the majority of their revenues obtained from shale...

This paper aims to investigate the relationship between the crude oil viscosity and liquid-dynamic noise characteristics of the oil transfer pump. A 3-step mathematical characterization model is proposed to describe the relationship between the viscosity and the corresponding water content of...

In April of 2018, an optical gas imaging (OGI) and full flow sampler (FFS) emissions measurement study of pneumatic controllers (PCs) at 15 oil and natural gas production sites in West Virginia was conducted. A total of 391 PC systems supporting 66 working wells were found. All were classified...

The effectiveness of two different biomaterials, i.e. Aloe Vera and Acorn leaves, has been tested in treating a real industrial petroleum wastewater through a coagulation-flocculation-sedimentation process. Experimental activities were aimed at evaluating the optimal operating conditions, in...

Due to growing oil imports, political leaders had been forced to let private companies produce the much-needed oil without which modern life is impossible. The most strident political clashes with what is known as ‘oil nationalism’, both ending in a coup d’´etat, happened in the period...

We examine how divesting from fossil fuel stocks, as announced by several large institutional investors, affects the systematic risk exposures of an equity portfolio. We find that fossil fuel stocks exhibit a highly significant positive exposure towards changes in the oil price. Consistent with...

This paper examines the ability of the oil market variance risk premium (VRP) to predict both financial and key macroeconomic series. Interest in understanding movement in such variables increasingly considers measures of investor risk and the variance risk premium, which incorporates both...

Effectively, the government of Iraq, not the Iraqi people, owns the oil wealth; the oil industry is a government monopoly. We make the case against such monopoly and for a competitive oil industry. We estimate the share of oil in real output to be relatively large, and show that most...

The thin but widely distributed sandstones in the shallow-water delta front have the potential to hold large deposits of natural gas. The fluvial sand bodies from river channels with different sedimentary facies and sandstone architectures have remarkable heterogeneities. Information regarding...

Strategic petroleum reserve (SPR) plays an important role in ensuring energy security. China has launched the SPR in response to the potential oil shortage since 1970. The optimal scale of SPR has become a concern to policy makers. The paper adopts a computable general equilibrium (CGE) model to...

Lubricant oils can autoxidize due to contact with air. This reaction is accelerated by heat and can be catalyzed with metal ion impurities. Therefore, new antioxidant additives are needed. Carbon nanomaterials exhibit excellent thermal oxidation resistance and can act as additives for lubricant...

H2 is highlighted as a sustainable energy resource, and mainly produced by steam reforming of fossil fuels, which emit the greenhouse gases. Marine biomass is a promising alternative source because of its high productivity and carbon neutrality compared to terrestrial biomass. In this work, we...

We show that the War on Drugs launched by the Mexican President Felipe Calderón in 2007 pushed drug cartels into large-scale oil thefts. Municipalities that the presidential candidate’s party barely won at the local elections in 2007-2009 exhibit a larger increase in illegal oil taps over the...

Oil and gas discovery in Ghana since 2007 has attracted the interest of many international and local actors, including transnational corporations. Contrary to the expected benefits of oil to broad-based development, the industry has perpetuated exclusion and poverty in communities in the...

We show that the share of oil in real output is relatively large, nearly 60 percent. Effectively, the government of Iraq– not the people – owns and manages the oil wealth. This dependence on oil as the main income is also consistent with the rentier economy and the Resource Curse phenomenon....

Upon the discovery of oil in commercial quantities in 1956, what followed was the domination of the oil and gas industry by international oil companies. The unavoidable consequence of this domination was a gross under-utilization of the human and material resources of indigenes for decades. This...

This paper considers the concept of national participation and development of Nigerian content in the country’s oil and gas industry. It analyzes the state of the oil and gas industry in Nigeria. An attempt is made to succinctly elucidate on the otherwise illusory concept of national...

The GCC oil exporters including Saudi Arabia and the UAE are under strong pressure to prepare for decreasing global oil demand in the era of energy transition and carbon neutrality. To overcome these challenges, they need to diversify their industrial structure and develop low carbon...

The main objective of this study is to assess the impact of oil and gas production on the economy of Ghana. Specifically to ascertain the impacts of oil production on Ghana’s economy and to ascertain the effect of the production level of other sectors of the economy on Ghana’s economy. It...

This paper examines how the pollution generated by oil operations in Nigeria can affect agricultural total factor productivity. I analyze oil spillages, which constitute the major ecological disaster in Nigeria, leading to large environmental, economic and social problems. Following a...

The recent calls for the revival of the Oil Price Stabilization Fund (OPSF) are tantamount to a call for a policy reversal, that is, reversal of the downstream oil industry deregulation that began in 1998. The history of the OPSF presents important lessons for policymakers. Petroleum price...

We study the performance of many traditional and novel, text-based variables for in-sample and out-of-sample forecasting of oil spot, futures, and energy company stock returns, and changes in oil volatility, production, and inventories. After controlling for small-sample biases, we find evidence...