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A Study on Oil and Gas Industry Production in Petroleum Management

  • Unique Paper ID: 148094
  • Volume: 5
  • Issue: 12
  • PageNo: 758-761
  • Abstract:
  • The competitiveness of oil and gas industry production in management systems is often based on random ranking of jurisdictions without taking into consideration the relative prospectively of the respective jurisdiction, the varying policy objectives, and socioeconomic drivers, not to mention the different investment environments, distance from markets, commodity prices, typical finding and development cost, relative size of discoveries, well productivity, and other factors. Analyses that oil and gas industry production on government take fail to account for the limitations of the government take statistic. A composite index that compares oil and gas industry production systems on government take as well as measures of profitability, revenue risk, and oil and gas industry production in relation to the relative prospectively and policy objectives is a more objective and thorough approach to comparing oil and gas industry production. This report compares the oil and gas oil and gas industry production systems against a selected peer group of jurisdictions that compete for investment in the upstream oil and gas industry. Oil has been utilized for lighting purposes for a huge number of years. In regions where oil is found in shallow repositories, leaks of unrefined petroleum or gas may normally create, and some oil could essentially be gathered from drainage or tar lakes. Verifiably, we know the stories of unceasing flames where oil and gas leaks lighted and consumed. One precedent is where the well known prophet of Delphi was worked around 1,000 B.C. Composed sources from 500 B.C. portray how the Chinese utilized petroleum gas to bubble water. It was not until 1859 that "Colonel" Edwin Drake penetrated the main effective oil well, with the sole motivation behind discovering oil. The Drake Well was situated amidst calm ranch nation in northwestern Pennsylvania, and started the worldwide look for a mechanical use for oil. The oil was gathered in the wooden tank envisioned in the closer view. As you will no uncertainty see, there are a wide range of measured barrels out of sight. As of now, barrel measure had not been institutionalized, which made explanations like "oil is selling at $5 per barrel" exceptionally befu
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Cite This Article

  • ISSN: 2349-6002
  • Volume: 5
  • Issue: 12
  • PageNo: 758-761

A Study on Oil and Gas Industry Production in Petroleum Management

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Impact Factor
8.01 (Year 2024)
UGC Approved
Journal no 47859

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