Because political events can determine the success or failure of an investment abroad, transnational companies must make every effort to analyze political risks as part of the decisionmaking process. States and Companies, written especially for students of international business and executives of transnational companies, presents a conceptual framework for the analysis of political risk. Although the author focuses his study on the international oil industry, his explanatory model of political risk is applicable to most transnational companies. Lax's study is important because it focuses on developing a context for understanding political risk rather than simply offering a predictive methodology. He provides the theoretical groundwork for this understanding by explaining political risk in terms of a broader theory of interaction between host states and transnational corporations. The inherent conflict of interests and issues hierarchies between these two actors, Lax argues, is the root cause of political risk.

Since the discovery of oil, the countries of the Persian Gulf have been caught in a vicious circle. With increasing oil revenues, rulers have made self-enrichment their motivation while foreign powers have exploited the region and provided support for oppressive regimes. Early exploitation of the region's oil was colonial in practice; today, oppressive rulers and foreigners work hand-in-hand to the detriment of the citizenry. Rulers have no incentives to foster good institutions, especially the rule of law, as independent and efficient institutions would undermine their control over oil revenues.This book takes a chronological look at the impact of oil in the region and examines how vast oil revenues have encouraged oppressive governance and corrupted development policies, impeding human, political, and economic progress. Hossein Askari argues that there is an urgent need for visionary political and economic reform in order to prevent a regional catastrophe. Rulers must start by publicly acknowledging that oil belongs to the people of all generations and that it must be managed accordingly - efficiently, equitably, and transparently.

This work follows upon the author's previous volume, The Political Economy of Venezuelan Oil, and investigates the general workings of the Mexican oil industry in relationship to the economics and politics of Mexico. Specifically the author examines Mexico's state-run oil concern, PEMEX, and the costs and benefits of Mexican oil policy--for the nation as a whole and for special groups. Using in-depth interviews and extensive data from PEMEX and other sources, Randall explores issues such as PEMEX's relationships with workers and the oil union, with suppliers of capital goods and services, with the regions in which oil is produced, and with specific groups of oil consumers. Given the critical and negative publicity PEMEX has received over its lifetime, Randall also seeks to answer questions regarding the extent of corruption, overstaffing, and lax management within PEMEX, which she finds to be less than is often alleged. Students of energy and development economics will find Randall's study an important contribution to the literature of Latin American economic policy. In addition to examining the internal workings of PEMEX, Randall describes and analyzes measures taken to correct earlier abuses and to increase efficiency. She reveals the intricate relationships among Mexican oil production, OPEC, the United States, and other nations, and explores the contradictory aspects of Mexican economic and oil policies that inhibit the ability of the oil industry to reach official goals. Throughout, Randall traces the transformation of PEMEX from a nationalized industry that mainly produced crude oil for export to one that has expanded to include refined products and petrochemicals. As a result of this expansion, Randall demonstrates, PEMEX has had a major impact both on the market for labor and capital goods and on the regions in which it operates. Her conclusions regarding the current and future prospects for PEMEX have important implications for the study of economic and energy development throughout the Third World.

This eagerly awaited book on natural gas policy promises to be the major work on the subject. The result of the "Harvard Study on the Future of Natural GaS," conducted under the auspices of the Energy and Environmental Policy Center at the Kennedy School of Government, it is comprised of ten articles reflecting the ideas, discussions, and debates of recognized experts in the field of energy policy. The result is an in-depth analysis of the energy debate including past regulatory policy and its effect on the consumer industry, deregulation and its current and future impact, and other topics of serious concern to the industry. Policy recommendations are also made.

This book discusses the strategic shift in ownership of Aramco, the Saudi Arabian Oil Company, and its potential impact on Aramco's role in a post- privatized world. Scheduled to become an IPO in 2018, Aramco is on the verge of becoming the largest IPO on the market. As the world's largest oil and gas company, Aramco's impending privatization has important implications for the world's petroleum market. This book, therefore, undertakes an analysis of Aramco, examining its history, its current role in Saudi Arabia's economy, and its future role as an IPO. The chapters highlight the likely outcomes for Aramco in proceeding with its planned IPO and privatization, as well as the various policy options and models available to it by drawing on the privatization of other national oil companies in Norway , Russia, Brazil, and China. The book also explores the complexities that will be involved in transforming Saudi Aramco to a privatized company-albeit with significant government oversight and control-and addresses key questions on the issues likely to be faced, such as IPO pricing, the listing, domain, and market capacity, and potential stakeholders. As such, this book will be of interest to academic researchers studying energy economics, energy policy, and the political economy of the Middle East, as well as private sector decision makers in energy related fields, international organizations, international oil companies, energy commodity traders, and public sector energy policy makers with interest in Saudi Arabia and Aramco's IPO.

This book is a study of the actors and institutions that shaped decision-making on privatization in the Russian oil industry between 1992 and 2006. Li-Chen analyzes the origins of privatization as a policy on a macro, industry-wide level, as well as presenting three in-depth case studies of privatization on a company level.

This book explores effective environmental impact mitigation for petroleum-based lubricants to reduce their negative persistence during usage and upon end-of-life disposal. The book reviews the basic tribology of lubricants as well as initiatives that may enhance the environmental and economic effectiveness of lubricating oils from the composition design perspective across industries. Considering the blending, application, and disposal of petroleum lubricants in a holistic manner, the book presents and extends current best practices that minimize or eliminate adverse environmental impact throughout the product's life cycle. The book reviews methods including: raw material substitution, minimizing oil losses during and after manufacturing, raw material and energy consumption reduction, and environmentally friendly applications of oil disposal as ways forward for cleaner and more effective production. This book provides readers with strategies for incorporating cleaner production practices into their operations - a benefit to both environmental legal compliance and business competitiveness - all the while preserving the environment for sustainable development. The book is therefore of interest to both manufacturers and consumers in the lubricants industry.

As feedstocks to refineries change, there must be an accompanying change in refinery technology. This means a movement from conventional means of refining heavy feedstocks using (typically) coking technologies to more innovative processes that will coax the last drips of liquid fuels from the feedstock.
This book presents the evolution of refinery processes during the last century and as well as the means by which refinery processes will evolve during the next three-to-five decades. Chapters contain material relevant to (1) comparisons of current feedstocks with heavy oil and bio-feedstocks; (2) evolution of refineries since the 1950s, (3) properties and refinability of heavy oil and bio-feedstocks, (4) thermal processes vs. hydroprocesses, and (5) evolution of products to match the environmental market.
Process innovations that have influenced refinery processing over the past three decades are presented, as well as the relevant patents that have the potential for incorporation into future refineries.
Comparison of current feedstocks with heavy oil and bio-feedstocks.
Evolution of refineries over the past three decades.
Properties and refinability of heavy oil and bio-feedstocks.
Thermal processes vs. Hydroprocesses.
Evolution of products to match the environmental market.

* Investigates the engineering and plant design challenges presented by heavy oil and bio-feedstocks

* Explores the legislatory and regulatory climate, including increasingly stringent environmental requirements

* Examines the trade-offs of thermal processes vs. hydroprocesses"

Now in its sixth edition, this guide to the oil industry, written in non-technical language, is a must-read for anyone involved in or curious about the oil industry. Engineers, executives, managers and laypersons will all find this to be a valuable, entertaining and informative guide that presents a practical study of the operations involved in oil exploration, drilling and production. Since the book s original publication in 1958, this handy volume has taught thousands about this constantly evolving industry that is so important for our everyday energy needs."

This book offers refineries a practical guide for implementing environmental management systems (EMS). The author, who has implemented hundreds of successful EMS programs throughout North America, Europe, Russia and the Middle East, provides a detailed explanation of what an EMS is and how it can benefit refinery operations in complying with environmental laws and improving the overall efficiency of their operations. The author s approach has been internationally recognized as an integrated model that captures improved compliance and financial savings by reducing operating costs through dedicated pollution prevention programs."

Written by one of the world's foremost authorities and instructors on pumps, this first volume in Gulf Publishing Company's new GULF PUMP GUIDES series covers the design, application and troubleshooting for progressing cavity pumps, downhole pumps and mudmotors. There is no other volume offering such a comprehensive, easy-to-understand and hands-on coverage of these types of pumps. As they become more and more widely used in the petrochemical industry, and other industries, knowledge of their design and application will become increasingly more important for the engineer.

This book reports the latest work on green technologies in palm oil milling processes, including new processes and various optimisation techniques. It covers the latest developments on palm oil milling process with new technologies, alternative solvent design, residual oil recovery, palm oil mill effluent treatment, palm biomass supply chain, as well as ecoindustrial park concept. The book is intended for industrial practitioners and academics interested in green technologies for palm oil milling processes.

Shortlisted for the Financial Times and McKinsey Business Book of the Year Award, and one of The Observer's 'Thirty books to help us understand the world'. Are we really to blame for the climate crisis? Over 70 per cent of global emissions come from the same 100 organisations, but fossil-fuel companies have taken no responsibility themselves. Instead, they have waged a 30-year campaign to blame individuals. The result has been disastrous for our planet. In The New Climate War, renowned scientist Michael E. Mann argues that all is not lost. He draws the battle lines between the people and the polluters - fossil-fuel companies, right-wing plutocrats, and petro-states - and outlines a plan for forcing our governments and corporations to wake up and make real change.

Jackups, semisubmersibles and drillships are the marine vessels used to drill offshore wells and are referred to collectively as mobile offshore drilling units (MODUs). MODUs are supplied through newbuild construction and operate throughout the world in highly competitive regional markets. The Offshore Drilling Industry and Rig Construction Market in the Gulf of Mexico examines the global MODU service and construction industry and describes the economic impacts of rig construction in the United States. The industrial organization and major players in the contract drilling and construction markets are described and categorized. Dayrates in the contract drilling market are evaluated and hypotheses regarding dayrate factors are tested. Models of contractor decision-making are developed, including a net-present value model of newbuilding investment and stacking decisions, and market capitalization models are derived. Jackup construction shipyards and processes are reviewed along with estimates of labor, equipment, and material cost in U.S. construction. Derivation of newbuild and replacement cost functions completes the treatise. The comprehensive and authoritative coverage of The Offshore Drilling Industry and Rig Construction Market in the Gulf of Mexico makes it an ideal reference for engineers, industry professionals, policy analysts, government regulators, academics and other readers wanting to learn more about this important and fascinating industry.

This work is the only economic history of Venezuela written in English. In it, Salazar-Carrillo provides estimates that have not been published previously on the Venezuelan economy in general, and the oil component in particular. Evolution of the oil industry in Venezuela is covered in detail and the concept of the retained value of oil expenditures and tnvestment is developed. Recent government policies and the performance of the Venezuelan economy are evaluated, and export-oriented strategies are considered. The appropriateness of these plans in fostering economic development is discussed.

This volume offers refineries a practical guide to implementing environmental management systems (EMS). The author, who has implemented hundreds of successful EMS programs throughout North America, Europe, Eastern Europe, Russia and the Middle East, provides a detailed explanation of what an EMS is and how it can benefit refinery operations in complying with environmental laws and improving the overall efficiency of their operations. The authors approach, which does not focus, like most programs, only on compliance, has been internationally recognized as an integrated model that captures improved compliance and financial savings by reducing operating costs through dedicated pollution prevention programs.

The sixth volume in a series on the Middle East and its most significant industry of oil. It analyses oil production, and the range of effects which oil revenues have on the political economy of the region. The social, economic and political effects of oil resources over 25 years are followed.

Despite prices of around $70 a barrel, the world is experiencing the fastest growth in oil demand in more than twenty-five years. The Institute for Management Development organized a research conference entitled "Energy Futures" in November 2005. Eighteen international energy researchers, policy makers and executives discussed specific aspects of today's energy industry and its likely evolution. This volume is based on this conference and brings together energy experts of rather different analytical views, doctrinal convictions and stakeholder affiliation to discuss the implications and growth of the oil industry.

Petrocinema presents a collection of essays concerning the close relationship between the oil industry and modern media-especially film. Since the early 1920s, oil extracting companies such as Standard Oil, Royal Dutch/Shell, ConocoPhillips, or Statoil have been producing and circulating moving images for various purposes including research and training, safety, process observation, or promotion. Such industrial and sponsored films include documentaries, educationals, and commercials that formed part of a larger cultural project to transform the image of oil exploitation, creating media interfaces that would allow corporations to coordinate their goals with broader cultural and societal concerns. Falling outside of the domain of conventional cinema, such films firmly belong to an emerging canon of sponsored and educational film and media that has developed over the past decade. Contributing to this burgeoning field of sponsored and educational film scholarship, chapters in this book bear on the intersecting cultural histories of oil extraction and media history by looking closely at moving image imaginaries of the oil industry, from the earliest origins or "spills" in the 20th century to today's post industrial "petromelancholia."

Crude Domination is an innovative and important book about a critical topic - oil. While there have been numerous works about petroleum from 'experience-far' perspectives, there have been relatively few that have turned the 'experience-near' ethnographic gaze of anthropology on the topic. Crude Domination does just this among more peoples and more places than any other volume. Its chapters investigate nuances of culture, politics and economics in Africa, Latin America, and Eurasia as they pertain to petroleum. They wrestle with the key questions vexing scholars and practitioners alike: problems of the economic blight of the resource curse, underdevelopment, democracy, violence and war. Additionally they address topics that may initially appear insignificant - such as child witches and lionmen, fighting for oil when there is no oil, reindeer nomadism, community TV - but which turn out on closer scrutiny to be vital for explaining conflict and transformation in petro-states. Based upon these rich, new worlds of information, the text formulates a novel, domination approach to the social analysis of oil.

Fluid-Solid Interactions in Upstream Oil and Gas Applications, Volume 78 delivers comprehensive understanding of fluid-rock interactions in oil and gas reservoirs and their impact on drilling, production, and reservoir hydrocarbon management. The book is arranged based on intervals of the oil and gas production process and introduces the basics of reservoir fluids and their properties, along with the rheological behavior of solid-fluid systems across all stages of the reservoir, including drilling processes, acidizing, and fracking. The reference then addresses different application-specific issues, such as solid-fluid interactions in tight reservoirs, the applications of nanoparticles, interactions during the EOR processes, and environmental concerns.

Explosions in the process industries injure or kill hundreds, if not thousands, of workers every year. They occur in process plants, refineries, platforms, and pipelines all over the world. Millions of dollars are spent repairing damages, replacing equipment and rebuilding facilities in the wake of this destruction. This book explores different types of explosions that can occur in a facility and the necessary steps to guard against them. A clear set of preventative measures, rules and standards combine to make this book a convenient guide to real-world applications. Additional theoretical issues in the use of probabilistic equations and scenarios make this book an absolute necessity for process industry safety.

This book explores the economic challenges involved in managing hydrocarbon wealth in the Caspian region, and looks at how to design an optimal energy policy. The book draws on the Author's experience in dealing with the governments of the region, and her knowledge of the role of major companies in the area.