Oil Companies And Economic Power - 1380 Words

Argumentative Essay: Oil Companies and Economic Power Introduction In the modern world energy has become very important since it helps drive most industrial as well as home based activities. For more than a hundred years, oil has been used to provide to this vast energy requirements. Oil companies around the world have facilitated the exploration, drilling, refinery and distribution of oil in their defined regions. The industrial part that oil companies play can be considered to be much greater than the domestic role. Oil companies produce diesel, petroleum, liquid petroleum gas and other products which are used to drive industrial machines used in production of various commodities. By this virtue, oil companies become an integral part of an economy (Marcel, Valerie, and John V. Mitchell, 98). Oil companies operate in defined regions where oil exploration and possible drilling is done. However some companies such as Shell BP engage in international drilling and distribution of oil products. Below are some of the most renowned oil companies in their constituent continents: Africa: Sasol of South of South Africa and National Petroleum Company of Congo. In Asia some of the leading oil companies include Nobel Group and the Bahrain Oil Company. It is important to note that Asia has a lot of oil resources and hence have extensive oil drilling activities. In Europe we have Partex oil and Gas Company, in South America three is Bridas Corporation based in Argentina. North AmericaShow MoreRelatedOil Companies And Economic Power1554 Words   |  7 Pages Oil Companies and Economic Power Introduction In the modern world energy has become very important since it helps drive most industrial as well as home based activities. The process that leads to production of the world’s largest energy provider, Oil, however has continued to receive criticism. This is so since production of Gasoline, Natural Gas, Kerosene as well as other components present in crude oil leads to some forms of environmental pollution. This has led to devastating climatic changesRead MoreA Report On Saudi Electricity Company1017 Words   |  5 PagesIntroduction The company that I will discuss in my paper is Saudi Electricity Company. I had worked there for around 10 years (2004-2013). I started as Design Engineer C, then, I got promoted several times until becoming Planner Engineer A. Saudi Electricity Company (SEC) was reformed in 2000 as a joint stock company with paid-up capital of 33 billion SAR ($8.8 billion). Three-quarter of its shares is belonging to the government and one-quarter owned by Saudi Aramco, the third largest crude oil company in theRead MoreEssay about OPEC Presentation1377 Words   |  6 Pagesproducers; an efficient, economic and regular supply of petroleum to consuming nations; and a fair return on capital to those investing in the industry. †¢ OPEC was formed at a time when the international oil market was largely dominated by multinational companies (the seven sisters‘). OPECs ‘Policy Statement states that there is a right of all countries to exercise sovereignty over their natural resources. †¢ Because OPEC is an organization of countries (not oil companies), individual members haveRead MorePolitical And Economic Development Of Russia s Oil1512 Words   |  7 Pages Jack D Sharples HSE International Conference April 2012- 3 - of Russia’s oil, has been 100 percent state-owned since its creation in 1992(Transneft, 2012).This response was part of the emergence of a broader state-capitalist model of political and economic development. Economically, this has involved increasing statecontrol over strategic sectors of the Russian economy beyond oil and gas, such as banking, electric power, the media, aviation, the automotive industry, machine- building (Pappe andRead MoreOccidental Petroleum Corporation s International Company Exploration Oils And Gas1248 Words   |  5 PagesExecutive summary An Occidental Petroleum Corporation. It’s international company exploration oils and gas. Company will conduct to work with each section as following: gas and oils, marketing and chemical. Develop and survey natural gas and oils In USA and abroad as well. The Occidental Petroleum does business in 3 sectors: natural gas and oils, midstream and marketing, chemical and so on. Exploration natural gas and oils in domestic are situated in Texas, New Mexico, Colorado and North Dakota.Read MoreEssay on Oil Conflict in Nigeria1259 Words   |  6 PagesOil Conflict in Nigeria Introduction This paper will discuss the Oil conflict that is occurring in Nigeria. Discussed will be the types of power that the two feuding parties are using and whether their strategies have been effective as well as the influence they have had on the conflict. The contrasting cultural differences and similarities will be discussed as well. The conflict in Nigeria has turned deadly and a successful communication environment must be developed in order to restore peaceRead MoreFossil Fuels And Its Impact On The Economic, Political, And Social Construct Of Texas Essay1215 Words   |  5 PagesS. is now ranked as one of the world’s largest producer of oil and natural gas liquids, creating about 50 percent of its own oil in 2014. The Lone Star State produces about 35 percent of the country’s oil and 23 percent of the country’s natural gas. Texas has always been a major center for oil and natural gas companies starting from the discovery of oil in the early 1900’s. Cons equently, fossil fuels play a significant role in the economic, political, and social construct of Texas. However, scientificRead MoreBenefits and Drawbacks of Countries Dependent on Oil and Gas Essay851 Words   |  4 Pages1 – Global Resources The distribution of natural resources like oil and gas are unevenly distributed across the world (Stutz, 2007). This essay will explain where the majority of oil and gas is located. Thereafter, the focus will be on the benefits and drawbacks of countries that are dependent on oil/gas. Finally, a conclusion will be given which sums up the most important factors. Allocation Oil/Gas The majority of the oil reserves are located in the Middle East. An estimate of 65% of theRead MoreJD ROCKAFELLER1722 Words   |  7 Pageshow Standard Oil had changed society with references to the levels and spheres of corporate power discusses in the chapter, I would say that the power of economic, cultural and political of the Standard Oil has led to the big changes to the society. Based on the text book mentioned that â€Å"Rockefeller’s company was capitalized at 70$ million and produced 90 percent of the nation’s refining output.† This has shown how strong the economic power of Standard Oil is. The Standard Oil Company built the facilitiesRead MoreGlobalization and Its Effects on Mexico1055 Words   |  5 Pagesnation has the second longest border with the United States, significant oil resources, and the 11th largest population in the world. Mexico underwent all the necessary free market changes to help support globalization despite initial resistance, but they are yet to complete the interior microeconomic makeover they drastically need. Mexico has many things working for them but continue to underperform when it comes to global power and economy, China out performs Mexico for low-cost manufactured goods