The purpose of this paper is to explore the determinants of internal control and propose techniques that can be utilized by the crude oil refiner in designing, implementing and controlling a pro-active risk management program.
Since the introduction of volatility into the oil business in the mid-1970s, pro-active risk management the has become a popular tool for petroleum industry management to effectively reduce the firm1s exposure to price risk. In order to use pro-active techniques, one must thoroughly understand the nature of the business and the tools available. Pro-active risk management is a continuous process of pricing, buying, selling, trading and scheduling of various products to balance supply and demand. / Master of Arts
| Identifer | oai:union.ndltd.org:VTETD/oai:vtechworks.lib.vt.edu:10919/41680 |
| Date | 17 March 2010 |
| Creators | Lucy, Richard F. |
| Contributors | Economics, Mackay, Robert J., Meiselman, David I., Porter, William R. |
| Publisher | Virginia Tech |
| Source Sets | Virginia Tech Theses and Dissertation |
| Language | English |
| Detected Language | English |
| Type | Thesis, Text |
| Format | vi, 283 leaves, BTD, application/pdf, application/pdf |
| Rights | In Copyright, http://rightsstatements.org/vocab/InC/1.0/ |
| Relation | OCLC# 24251451, LD5655.V855_1991.L829.pdf |
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