This dissertation is an examination of the American oil industry in Saudi Arabia and its influence on United States foreign policy. The study examines the Americans who went to Saudi Arabia, the effect of the oil companies on Saudi- American relations, and the American government's response to oil company actions. There is an attempt to answer such questions as: Did the oil companies exert pressure on the American government to influence governmental policy? How effective was this pressure? And, what benefits did the oil companies have from their relationship with the government? The study concludes that Aramco was instrumental in bringing official and nonofficial contact and representation between Saudi Arabia and the United States. Moreover, Aramco was instrumental in involving the American government directly in Saudi Arabia through the extension of lend-lease aid to that country. American government involvement thwarted potential British ambitions in the Saudi oil resources and resulted in the American dominance of oil interests in that kingdom. In addition, Senate investigations showed that the oil companies grossly overcharged the United States Navy on oil purchases and that the financial assistance to Saudi Arabia was made for the protection of Aramco's oil concession.

Bibliografia: p. 109-111 / Dissertação (mestrado) - Instituto Nacional de Matemática Pura e Aplicada, Rio de Janeiro, 2014. / Estudamos a precificação de opções exóticas nos mercados de petróleo e de seus derivados. Iniciamos com uma análise exploratória dos dados, revisitando suas propriedades estatísticas e fatos estilizados relacionados às volatilidades e correlações. Subsidiados pelos resultados de tal análise, apresentamos alguns dos principais modelos forward para commodities e um vasto conjunto de estruturas determinísticas de volatilidades, bem como os respectivos métodos de calibragem, para os quais executamos testes com dados reais. Para melhorar o desempenho de tais modelos na precificação do smile de volatilidade, reformulamos o modelo de volatilidade estocástica de Heston para lidar com uma ou múltiplas curvas forward, permitindo sua utilização na precificação de contratos definidos sobre múltiplas commodities. Calibramos e testamos tais modelos a partir de dados reais dos mercados de petróleo, gasolina e gás, e comprovamos a sua superioridade frente aos modelos de volatilidade determinística. Para subsidiar a precificação de opções exóticas e contratos OTC, revisitamos dos pontos de vista teórico e prático assuntos como simulação de Monte Carlo, soluções numéricas para SDEs e exercício americano. Finalmente, por meio de uma bateria de simulações numéricas, mostramos como os modelos podem ser utilizados na precificação de opções exóticas que tipicamente ocorrem nos mercados de commodities, como as calendar spread options, crack spread options e as opções asiáticas. / We study the pricing of exotic options in the oil and its derivatives markets. We begin with a exploratory analysis of the data, revisiting statistical properties and stylized facts related to the volatilities and correlations. Based on this results, we present some of the main commodity forward models and a wide range of deterministic volatility structures, as well as its calibration methods, for which we ran tests with real market data. To improve the performance of such models in pricing the volatility smile, we reformulate the Heston stochastic volatility model to cope with one or multiple forward curves together, allowing its use for the pricing of multicommodity based contracts. We calibrate and test such models for the oil, gasoline and natural gas markets, confirming their superiority against deterministic volatility models. To support the tasks of exotic options and OTC contracts pricing, we also revisit, from the theoretical and practical points of view, tools and issues such as Monte Carlo simulation, numerical solutions to SDEs and American exercise. Finally, through a battery of numerical simulations, we show how the presented models can be used to price typical exotic options occurring in commodity markets, such as calendar spread options, crack spread options and Asian options.

Submitted in fulfilment of the requirement for the Degree of Masters: Public Management, Durban University of Technology, 2017. / Constant change through global competition, technological advances and socio-economic improvement, permeates the contemporary environment in the world including certain African countries. Oil refineries are in constant progress with regards to modernisation and development. Many oil refineries all over the world are operating according to the expected scope of oil products to be produced and supplied, in line with the objectives of meeting domestic and international demand. The Democratic Republic of Congo (DRC) has one oil refinery only named Congolese Company of Oil Refining Industries (SOCIR), which has become less productive, uncompetitive, inefficient and unable to achieve its socio-economic roles or goals of supplying the country with oil products and of contributing to national socio-economic development. This study aimed to explore the socio-economic role of the petroleum refining industry in the DRC, through the case study of the SOCIR. The objectives of the study were to evaluate the factors affecting the socio-economic development in the DRC; identify the challenges experienced by SOCIR in the macro-environment; and explore the socio-economic effects the upgrading of SOCIR could have on the socio-economic situation in the DRC. In order to achieve these objectives, the study was undertaken as a quantitative survey combined with qualitative in-depth interviews to provide better understanding of the information obtained from the survey. The quantitative study was conducted on administrative personnel, academics, students, and public and private participants involved in the oil and gas industry in the DRC. Hundred participants were selected for the quantitative survey and five in-depth interviews were conducted to discuss the findings and results obtained through the quantitative study. The macro-environment variables of the PESTIE model were used to accomplish the aim and objectives of this study. The result of this study revealed that most factors affecting the socio-economic development of the DRC are related to the PESTIE instabilities, lack of economic diversity and constant national and regional ethnic or armed conflicts that are fuelled by multiple interests linked to natural mineral resources. The ageing of SOCIR infrastructure, the lack of financial capital and the lack of investments for human capital development were identified as the main challenges experienced by SOCIR. Furthermore, it was highlighted that if SOCIR upgraded with new efficient processing technology, it could increase its capacity of production, contribute on reducing the effects of total dependency on imports of all needs for petroleum products and prevent the country from exporting the total oil output, contribute on supplying the country with sufficient quality and quantity of clean oil products, and promote the oil and gas industry development and integration. The results of this study also indicated that SOCIR development could play a key role leading to economic diversity and growth with direct, indirect and induced impacts of massive job creation and contribute on reducing unemployment, poverty and inequality of many Congolese which are living under the poverty datum line. The study revealed that the outcome of the oil and gas industry integrated and developed through SOCIR modernisation strategy could steer the socio-economic change and transformation in the country. It is recommended to the government of DRC to constantly review, monitor and implement policies and regulations that could promote the oil and gas industry development in the country. The results of the study should also influence policy-makers and decision-makers on formulating innovative and creative policies, setting programmes, methods and interventions, which will enable the development of the oil and gas industry. / M

Thesis (MBA)--Stellenbosch University, 2011. / Petroleum fuels energy supply and its availability is an essential precondition for socio-economic development in any economy. Energy is required in meeting the basic human needs such as food, shelter, health, education and for economic activities such as transport, agriculture and mining. Botswana’s energy consumption is dominated by petroleum fuels. The country has no known petroleum reserves and it has to import all its petroleum requirements in refined form, from the neighbouring South Africa. The study focuses on the challenges of security of supply of petroleum products in Botswana. What is at stake is to identify alternative supply sources and routes of petroleum products to Botswana, thus reducing the risk of wholly dependence on South Africa for the supply. A major goal is to develop alternative sources and routes from neighbouring countries. This can be achieved by the Botswana Government taking advantage of regional cooperation with neighbouring countries. The study explores other approaches to reduce the high dependence on South Africa. One of the possible solutions is for Botswana Government to establish a state owned oil company which could play a catalytic role in the implementation of many of the steps considered in this study. This company could, for example, be charged with crude oil exploration in Botswana and with steps to assist locally owned Botswana companies to establish themselves in the marketing and distribution of petroleum. Much will, however, depend on the resources that can be mobilised by the Botswana Government for such a State Oil Company. The study is based on secondary data obtained mainly from the Division of Energy in the Ministry of Minerals, Energy and Water Resources. Feasibility studies conducted by consultants engaged by the Ministry played an important role in the literature underlying this report.

Thesis (MBA)--Stellenbosch University, 2006. / ENGLISH ABSTRACT: The shortage of skilled labour in South Africa and also abroad is well documented and has been discussed and debated in various media and on various stages. For the construction industry, the only response is to increase remuneration in order to attract the required resources from a limited pool. At the completion of a project, these resources are returned to the open market until another project has been secured. The cycle of supply and demand then continues and project capital costs increase. Sasol is small player in a very large and fiercely competitive global petrochemical industry. Its globalisation drive focuses on the establishment on new petrochemical facilities based on its ground breaking Gas-to-Liquids technology. Naturally, this requires many skilled and experience people – both in Sasol’s unique production processes as well as people able to commission and start-up a pioneer plant in a remote location. Due to the fact that the labour pool available to Sasol is insufficient to supply in its needs and that Sasol’s capital expansion plan spans a period of more than 10 years, a long-term view on supplying the required labour should be taken. This includes estimating the demand and then training pro-actively in order to supply the right skills at the right time from internal resources. The objective of this study is to do exploratory research into estimating the manpower requirements from an owner perspective from the initiation of construction through to steady state operation of a new petrochemical facility. The research will culminate in a proposed spreadsheet model that can be used in the estimating process. / AFRIKAANSE OPSOMMING: Die tekort aan geskoolde arbeid in beide Suid Afrika en die internasionale mark is al by verskeie geleenthede en in vele media bespreek. Die gevolg van die tekort aan geskoolde arbeid is dat die lone wat deur die konstruksie industrie aan voornemende werkers aangebied moet word om hulle dienste te verseker, al hoër word. Met die voltooiing van ’n projek, keer die werkers dan weer terug na die beperkte arbeidspoel totdat ’n volgende werksgeleentheid aangebied word. Die siklus van aanbod en aanvraag herhaal homself en die koste van projekte verhoog. Sasol is ’n klein speler in die baie mededingende internasionale petrochemiese sektor. Sasol se globaliseringsambisies is geskoei op ’n model wat voorsiening maak vir die duplisering van sy kommersieel beproefde Gas-na-Vloeistof tegnologie soos bedryf in Suid Afrika. Uit die aard van die saak vereis so ’n strategie baie geskoolde arbeid – arbeid wat vertroud is met Sasol se gepatenteerde tegnologie sowel as arbeid wat kennis het van die bou en inbedryfstelling van nuwe aanlegte. Die huidige bronne van geskoolde arbeid tot Sasol se beskikking is onvoldoende vir sy huidige en ook toekomstige behoeftes. Sasol se beplande kapitaal projekte strek tot verby 2015 en daarom is ’n langtermyn oplossing noodsaaklik en ook geregverdig. Die langtermyn plan moet onder meer voorsiening maak vir ’n beraming van die behoefte en dan proaktiewe opleiding inisieer wat die regte tipe geskoolde arbeid op die gegewe tyd sal kan aflewer. Die oogmerk van die studie is om eksploratiewe navorsing te doen in die beraming van mannekrag behoeftes vir die toekomstige eienaar vanaf die inisiëring van konstruksie vir ’n nuwe petrochemiese aanleg tot by bestendige bedryf. Die navorsing sal beslag vind in ’n sigblad model wat as instrument gebruik kan word om die beraming van mannekrag behoeftes te vergemaklik.

National oil companies (NOCs) control over 80 percent of world oil reserves and over 50 percent of gas reserves and hold exclusive rights to exploration and development of oil and gas reserves within their home countries. Because of host government involvement and supervision, NOCs may also act as instruments of state, implementing government foreign and domestic policies such as wealth re-distribution through the provision of subsidised oil products, job creation, and economic development. Such activities can lead to restricted availability of funds for finding and developing reserves for future production and to inefficiencies in current production and distribution. This thesis assesses the geopolitical factors that influence the conduct, strategies and priorities of NOCs and how these may impact on the continuing security of energy supplies to countries which are members of the Organisation for Economic Co-operation and Development (OECD). It will focus on ten NOCs supplying oil to world markets and two which supply gas to the European market. The study will also review the activities and .scope for influence as state instruments of Sovereign Wealth Funds which have been established by states with NOCs, in particular, those which have earned substantial petro-dollar surpluses, during the period of high oil and gas prices of2006-2008. In an age of global interdependence between nations, specific objectives of this thesis are to consider the implications of anticipated growth in world demand for oil and gas supplies over the next 20 years, whether world production capacity is likely to grow to meet increases in world demand, the potential impact on world oil and gas supplies of the policies and practices of NOCs, in particular, the desire of host governments to require NOCs to follow non- commercial objectives, and the responses from OECD countries to threats to their energy security from potential restrictions on supplies.

Major changes in organizational structural paradigms have been occurring. Recent journal articles propose that the older philosophies of expanding organizations and increasing internal specialization are no longer viable means to enhance competitiveness as espoused in earlier journal articles. Downsizing, rightsizing, and business process reengineering have all been used as methods of accomplishing organizational work force reduction (OWFR) and enhancing organizational posture. It has been established that as organizations grow, specialization increases. Causes for OWFR have not been established nor have effects upon structure been studied. Previous structural factor studies have focused upon organizations engaged in end-game strategies done during periods of internal and economic growth. This study evaluates the impacts of OWFR and its relationship to the structural factor of specialization during a non-munificent economic period. Three independent variables, dis-integration, change in the number of employees, and change in technology, were used as measures to determine whether specialization decreased when organizations downsized. The dependent variable, specialization, was obtained through a pre-tested questionnaire. The three independent variables were obtained using the Compustat data base as a secondary source of information. The Compustat data was verified using data from Compact Disclosure. Questionnaires were mailed to fifty-one fully integrated oil companies. Forty were returned after three mailings yielding a response rate of seventy-eight percent. The unit of analysis for the data collected was the firm. The data were analyzed using multiple regression to determine the strength of the relationship between the variables. Results indicate a significant relationship between two of the independent variables and the dependent variable: dis-integration and specialization and change in the number of employees and specialization. Findings were insignificant for the third independent variable and the dependent variable: change in technology and specialization. Analysis of the quantitative results and the qualitative responses of the participants show that dis-integration and a change in the number of employees are both useful for measuring structural change for organizations engaged in organizational work force reduction.

A non-experimental, descriptive study was conducted to examine the criteria by which ad hoc labor arbitrators are selected in the petroleum refining industry. Three factors — arbitrator background, recognition, and arbitration practice — were examined to determine their relative importance to advocates selecting ad hoc labor arbitrators. The population of the study consisted of management and labor union advocates in the petroleum refining industry who routinely select ad hoc labor arbitrators. Participating management and union advocates completed a questionnaire used to gather respondents' evaluations of criteria considered in the selection of ad hoc arbitrators. Responses to statements designed for measuring relative importance of the criteria considered were recorded. Descriptive statistics, discriminant analysis, and tests of significance were used in the treatment of the data.

The main body of this thesis is composed of four chapters: Chapter II is concerned with the development of the oil industry in Texas prior to the discovery of Spindletop; Chapter III deals with Spindletop; Chapter IV sets forth the later developments of the oil industry in Southeast Texas or Railroad Commission District No. 3; Chapter V is the concluding chapter, complete with summary, evaluation present status and future possibilities of the oil industry in Southeast Texas.

"The object of writing this thesis was to present a brief though fairly detailed history of the oil industry in Texas. The material and facts contained herein were gathered from various sources including books, newspapers, magazines, bulletins, radio programs, letters, and authorized conversations. The main body of this thesis is composed of seven chapters, each of which deals with a certain phase of the oil industry of its effects."--leaf iii