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National
Institute of Business Management
Chennai -
020
EMBA/ MBA
Elective:
Oil and Gas Management (Part -1)
Attend any 4
questions. Each question carries 25 marks
(Each answer
should be of minimum 2 pages / of 300 words)
1. Explain
Why Oil and Gas play a vital role in the global economy..
Answer:Oil has been the world’s major commercial energy source for many decades
and the consensus view is that it will maintain this leading role well into the
21st century.
The pre-eminence of oil has run in parallel
with the massive economic advances made in the 20th century and on into the
21st century. It is estimated that industrial production grew by around 50
times during the last century and that four-fifths of this growth happened in
the second half of the century, starting with the reconstruction period after
the second world war.
This resulted in an enormous increase in
energy consumption.
Most of the consumption has been concentrated
in the OECD
2. Discuss
the differences between publicly traded IOCs and state-controlled NOCs and
their strategic goals.
Answer:
3. Explain
the role that the oil and gas industry plays in domestic politics.
Answer:shortage of functioning production equipments, lack of modern technology
etc. as result of which over 16, 000 oil wells were lying idle in the USSR as a
whole. The position of natural gas was somewhat better although in 1991 output
had slightly declined. The Soviet Union had already emerged as the foremost
with regard to natural gas reserves in the world. The CAS had also been
identified as the most promising areas of natural gas reserves in the former
USSR. According to a report of the Congressional Research Service, in 1991
Turkmenistan and Uzbekistan in Central Asia (that is excluding Kazakhstan) had
2 giant oil fields and 14 giant natural gas fields among the large number of
oil-gas fields in the former USSR.
4. Explain
the marketing and sales of refined petroleum products.
Answer:Like other sectors of the oil and gas business, the marketing and
distribution of petroleum products takes place on a vast, global scale. Every
day, hundreds of millions of companies and individuals buy these products at
wholesale or directly from retail outlets that number in the hundreds of
thousands worldwide. If we include indirect users of petroleum products, the
number of consumers runs into the billions.
Refined product markets are different from
crude oil markets (see Petroleum Online module titled, “Marketing & Trading
of Crude Oil”) in a number of ways. The scale is much smaller: a typical crude
oil transaction involves 500,000 or even one million barrels of oil, while a
typical refined product sale may involve only 5,000 to 10,000 bbls. Product
5. Discuss
the main elements of cost advantage in upstream
oil and gas production.
Answer:Upstream companies are witnessing revenues drying up and profit margins
shrinking as a result of lower crude oil price realization. If the price of oil
continues to drop or stays depressed for a long period, some of these companies
may find it unprofitable to run their businesses.In this environment, it has
become
6. There
are a number of additional risks that need to be considered in any prospective
oil or gas development project, often separated into precompletion,
postcompletion, and macroeconomic risk..
Explain the risks.
Answer:
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