Tuesday, January 28, 2020

Oil And Energy Industry In UAE

Oil And Energy Industry In UAE The UAE is a rich source of natural resources and it has substantially developed itself as a major player in the oil and gas industry. UAE is one of the member countries of OPEC and has been given a remarkable position in oil and gas industry all over the world by having 10% holding of total oil reserves of the world in the federation (Hellyer). The central theme of the report is to analyze the oil and gas industry of UAE country so as to analyze the contribution and impact of oil and gas industry to the GDP and economic development. Fundamentals of the Oil and Energy Industry: Historical Development of the Oil Sector around the World: The UAE is a member of the OPEC since 1967 and holds superior position in terms of the oil and gas industry with the federation holding of 10% of the total oil reserves of the world. The future holds lucrative prospects in the natural gas sector as it would cater to the manufacturing industry, generation of power and petrochemical industry by providing a source of fuel. Abu Dhabi and Dubai are the two prominent emirates responsible for the success and growth of the oil and energy sector in the U.A.E. (Energy and UAE) Importance of Oil in the UAE: The UAE is essentially an imperative provider of oil to global energy markets, by making around 10% of the overall global supply of crude oil reserves. In terms of oil exports, UAE accounts for nearly 30% of its gross domestic product becoming a mainstay in the economy. Also, UAE is emerging as a relevant consumer of energy in addition to being an important global supplier of energy. The UAE will continue to maintain its long convention of being responsible energy stewardship owing to its diversification and development of economy; acceleration of growth of additional hydrocarbon reserves and contributing significantly towards the implementation and development of other alternative sources of energy (The UAE and Global Oil Supply). Production and Reserves: Production: S.No Particulars Capacity (2011) Oil Production 3,096.34 (Thousand Barrels Per Day) Crude Oil Production 2,687.67 (Thousand Barrels Per Day) Natural Gas Production 1,811 (Billion Cubic Feet) Electricity Production 81.08 (Billion Kilowatt-hours) Source: http://www.eia.gov/countries/country-data.cfm?fips=tc Reserves: S.No Particulars Capacity (2011) 1. Oil proved reserves 97.8 (Billion Barrels) 2. Natural gas proved reserves 214 (Trillion Cubic feet) Source: http://www.eia.gov/countries/country-data.cfm?fips=tc OPEC: Background of OPEC: The Oil Producing Exporting Countries (OPEC) has been established with the sole purpose of stabilizing the prices of oil in the member countries and also to impose quotas so as to prevent the wrong and over usage of natural resources which result to their extinction sooner than expectation. As per the current information, OPECà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢s combined reserves accounts for 1190 billion barrels of oil. According to the 2008 agreement, the production cut was imposed on the existing quota and continuing to till now. Facts reveal that the OPEC countries produce 2 million barrels a day in excess of the permitted capacity of 24.845 million barrels per day(Alternative Energy Sources Synthetic Fuels Renewable Energy). Source: (OPEC share of world crude oil reserves) Effectiveness of OPEC in achieving its Objectives: OPEC was primarily formed to keep a check on the oil prices and bridging the gap of demand and supply in the global oil market. But still the quota implementations are not followed by various countries resulting in the production of oil more than the permitted quota. According to the claims of OPEC, the fluctuation in the prices is not due to the changes in demand and supply but due to the overproduction oil other than the allotted quotas (Sousa). OPEC and Oil prices in the last 4-5 years: The following figure shows the fluctuations in the global oil prices with the adherence of OPEC rules associated with oil production: http://gailtheactuary.files.wordpress.com/2012/02/world-oil-supply-and-brent-oil-price.png Source: (Why oil prices are so high: Production shortfall, Iran concerns, and low interest rates) OPEC Quota and how it has changed over time: The OPEC quota for the production of oil for UAE is 2.23 million barrels per day. It had joined OPEC in 1967 and is the Full Member country. It produces 2798000 barrels of oil and exports 3.32% of oil in all over the world. It is ranked as the 6th largest country for the oil reserves in the world. The OPEC aims at providing the stabilization of the price of oil as regards the member countries and also the imposition of quotas as will prevent overuse of the resources which could lead to finishing up of oil reserves sooner than expected. OPEC decides the production quotas for its member countries as per the global requirement of oil which could be changed by the OPEC as per the strategic decisions pertaining to conservation, preservation, demand and supply of the oil globally (Sousa) . Source: (Sousa) Role and the influence of the UAE within OPEC: UAE become the member of OPEC countries in 1967 and acts as an active member since 1974. Since then it act as a major contributor of oil and gas industry among OPEC members. It provides the constant source of oil to the consumers of OPEC by providing approximate 2.3 million barrels of oil per day. In addition to the supply of traditional sources of energy, UAE also contributes to provide new alternatives of energy through substantial development. (UAE contributes to global energy sector: OPEC) Effect of a quota cut by OPEC: The quota cut by OPEC will affect recovery of economy in the global market. As per the evidences, the quotas cut is not helping in controlling the price issues of the oil and gas industry rather it is increasing the problem as countries tends to produce oil other than the permitted quota. The hikes in the prices of oil will increase the prices of other commodities resulting increase the rate of inflation and slowing down the economic development. (Pirog) Analysis: According to the data obtained from the Journal of Oil and Gas, the UAE is an important producer of oil, holding significantly seventh position in terms of proven resources globally. The UAE has been able to sustain its global reserves owing to the advanced enhanced oil recovery technology, EOR being implemented that leads to increase in extraction rates of several major projects in oil sector. The technology combines with high oil prices eventually to make reserves more commercially viable (United Arab Emirates Energy Data, Statistics and Analysis) The policies and procedures of oil in the UAE is primarily carried out by the government under the flagship of the Supreme Petroleum Council, through ADNOC operating at every level of oil and energy sector in UAE. The government has pushed back several its plans to increase capacity in order to increase the production capacity of crude oil (United Arab Emirates Energy Data, Statistics and Analysis). UAE economy, underpinned by its wealth in oil, has recorded a steady growth over the last couple of years. In terms of oil GDP, the figures have doubled from AED 387.8 billion to AED 934.3 in last assessment year. Recent Development in Oil Sector of UAE: With the advent of Habshan-Al-Fujairah pipeline for the purpose of carrying oil from oil fields of Abu Dhabi to the exporting port has been essentially proved as a strategic and economic advantage for the overall sector of the country. The pipeline extending 350 kilometers from oil fields and with this the country will be able to export 1.5 million oil barrels in a single day. (Asoomi) Alternatives to Oil Industry: Keeping in mind the limited availability of fossil fuels and to prevent its overuse to meet the worldà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢s growing energy demands, various alternatives to energy sources have been identified. Unconventional alternatives Liquefied Natural Gas (LNG) is the upcoming form of natural gas which provides an excellent alternative to conventional natural gas usage. GTL is not only a beneficial alternative but is also environment friendly as there are no harmful emissions on its combustion. Oil sands also provide a source of the extraction of oil from it and its use is significantly increasing with time. The only limiting factor is the increasing cost of setting up the required infrastructure and cost of mining and extraction of oil from it. However the oil sands are accompanied by noxious fumes which are contributing to the global warming issue (Alternative Energy Sources Synthetic Fuels Renewable Energy). Bio-fuels have been the outcome of recent developments in scientific researches. In this the organic matter is used to derive hydrocarbon based fuels such as Biodiesel, ethanol, etc. The conventional sources of energy include solar, wind and hydro energy all of which are renewable and 100% environment friendly. (Alternative Energy Sources Synthetic Fuels Renewable Energy) . Recent Developments: UAE has been involved in many new projects including increase in crude oil production to 4 million barrels per day by 2020. This would results to the increase in 40% from current capacity. The major upcoming projects include Bourouge complex expansion projects and the Habshan Gas Complex Expansion. UAE is planning to invest $ 6 billion to develop the infrastructure of oil and gas industry. Abu Dhabi government is planning to invest $ 20 billion in Masdar to develop alternative energy resources to oil and gas industry. (Oil Gas Directory Middle East) Future Scenarios: Future plans of the OPEC and the UAE Oil sector and their effect on the Economy: To promote fair and stable oil prices and strategies of capacity expansion. To examine the technological, economical, political growth and development pertaining to the oil energy and other important sectors. To encourage the oil consuming nations for the enhancement of investment associated with downstream sector. To promote the technological development in order to addressing the issues pertaining to the climate changes. To minimize the bad impact of environmental issues on the developing countries which exporting fossil-fuel (OPEC Long-Term Strategy). Impact of Oil and Non-Oil Alternatives on the future of the UAE: Oil sector is one of the essential components contributing towards the countryà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢s economy with special economic consequence on rate of inflation, consumer spending and eventually auto sales of the country. The boom in the oil sector is bringing a gradual shift from trading and fishing to oil sector, making UAE depending heavily on petroleum and crude oil as a main source of foreign exchange earnings. The real output growth of the country is increasing owing to the rising hydrocarbon production and other non oil sectors, especially trade, logistics and services eventually bearing a relative economic growth revival. Recommendations: It is recommended to grab the opportunity from joint ventures to develop the sources not only in Dubai but also all over the UAE. Need to pay attention to other prevailing sectors such as banking, real state, telecom and aviation in order to increase the GDP and economic development. Identification of better source of material and labor should so as invest in major projects along with the implementation of Green initiatives Conclusion: Oil and Energy is a certainly a very important sector of the world that nourishes and contributes as a largest part to the GDP of the country. The production of oil leads to the production of various by-products and therefore the oil producing and exporting companies in UAE earns great revenue. At the same time, country earns most of its export earnings from oil and gas sector. On the other hand, due to emergence of other non oil sectors and slow economic growth, the sector is now facing several challenges including the challenge of diversification and privatization.

Monday, January 20, 2020

An Analysis of Love in Shakespeares A Midsummer Nights Dream Essay

A Midsummer Night's Dream is one of Shakespeare's most widely read comedies about love. This seems somewhat strange, however, in light of the fact that so few of its characters seem to display any kind of full or true love. A close examination of the actions and words of each of the players will reveal that only one of them, by the end of Act V, should be considered a "lover". For the purposes of this inquiry, we are defining "love" as "that which steadily desires and works to attain the benefit of another." I think this definition becomes very important when we study the uses and effects of the dew of the pansy (first mentioned in 2.1.166ff.) on the various characters on whom its charm is worked, and by extension, on those with whom they interact. The dew is employed by Shakespeare as a device to demonstrate how fluid a thing "love" is, and how easily the affections of the so-called lover can be swayed. But the dew's power is not all-conquering. It is said to "make man or woman madly dote / upon the next live creature that it sees" (2.1.171-172), and to induce "hateful fantasies" (2.1.258), but it is not irresistible, nor is it ever said to repress any feelings of love a person might have had prior to falling under its charm. Thus I believe that from our definition of love we can reason that what the dew affects and causes is not, in fact, love at all. Rather, it is fancy, another emotion of which Shakespeare makes considerable use. If a person steadily desired and worked to attain the benefit of another, the charm of the dew would not change that. It would merely fill his or her head with "hateful fantasies" about the new object of affection -- and not desires for its benefit. In any event, certainly someone genuinely in... ... of my examination of love in A Midsummer Night's Dream, to arrive at the conclusion that none of its players exhibited any love at all, and Shakespeare's point was to prove that love is unreal; a fabrication of human imagination. I was excited to discover, however, that in the midst of the ugly scene he set up to emphasize this argument most strongly, he left a single bastion of true, honest, unadulterated (for Hermia is never charmed by the pansy's dew) love. To me, Hermia is an example of what humanity could be, and how it could love, were it to forget some of the smaller matters in which it so often becomes willingly entangled. Works Cited Shakespeare, William. The Riverside Shakespeare. Houghton Mifflin Company. Boston. New York. 1997. Rhoades, Duane. Shakespeare's Defense of Love: "A Midsummer Night's Dream". Westport, CT: Greenwood Press,1986.

Saturday, January 11, 2020

Fighting Corruption Essay

Corruption is a significant threat to global growth and financial stability. Corruption destroys public trust, undermines the rule of law, skews competition, impedes cross-border investment and trade, and distorts resource allocation. As a group of the world’s largest economies, the G20 is continuing to fight corruption and alleviate its negative impact on economic activity. There are practical steps that all G20 members can take to reduce the costs of corruption for growth and development. In 2014, the G20 developed high-level principles on beneficial ownership transparency to improve the transparency of company ownership and control. This will support a stronger investment climate and will also protect developing countries from losing further revenue. G20 Anti-Corruption Working Group (Co-chairs in 2014: Australia and Italy) G20 Leaders established the Anti-Corruption Working Group (ACWG) at the Toronto Summit in 2010 in recognition of the significant negative impact of corruption on economic growth, trade and development. Since 2010, the work of the ACWG has been guided by two-year action plans that include commitments by G20 countries to ratify and implement the United Nations Convention against Corruption, criminalise and prosecute foreign bribery, and cooperate with other countries to investigate, prosecute and return the proceeds of corruption. The G20 renews its pledge to fully implement actions agreed in previous action plans. In 2014, the ACWG held three meetings: A high priority for the G20 in 2014 is the effective implementation and enforcement of all outstanding G20 anti?corruption commitments. Key achievements to date include: development of the G20 High-Level Principles on Beneficial Ownership Transparency (2014) a commitment by all G20 countries to complete a self-assessment of their domestic foreign bribery frameworks, and to provide annual updates (see 2014 self-assessments by country) to the ACWG on their progress as part of the annual ACWGÂ  Accountability Report questionnaire the development of the G20 High-Level Principles on Corruption and Growth (2014) resulting from a continuing study on the impact of corruption on growth, led by the Organisation for Economic Development and Co-operation (OECD) development of the G20 Compendium of Good Practices for Integrity in Public Procurement (2014) development of the G20 Guiding Principles on Enforcement of the Foreign Bribery Offence (2013) and note development of the G20 Guiding Princip les to Combat Solicitation (2013) and note development of the G20 High-Level Principles on Mutual Legal Assistance (2013) and note development of the Requesting Mutual Legal Assistance In Criminal Matters from G20 Countries (2012) development of the G20 Asset Recovery Guides (by country) (2014). At the 16-17 October ACWG meeting, the Group reached agreement on the 2015-16 G20 Anti-Corruption Action Plan. The plan will guide the G20 Anti-Corruption Agenda following the completion of the current Action Plan. The ACWG has also agreed to a 2015-16 G20 Anti-Corruption Implementation Plan, which provides a detailed outline of the Group’s work program for 2015-16. Leaders endorsed the 2015-16 Action Plan at the G20 Leaders’ Summit in Brisbane in November 2014. The ACWG works closely with G20 engagement groups, including representatives of business and civil society, in implementing the G20 Anti-Corruption Agenda. In 2014, the G20 Engagement Groups have participated in every meeting of the ACWG. The G20 Anti-Corruption Roundtable in February brought together representatives of G20 engagement groups and the ACWG to discuss the future G20 Anti-Corruption Agenda. The Roundtable opening address was delivered by Australia’s Attorney-General Senator the Hon George Brandis QC. Another forum, the OECD-G20 High-Level Anti-Corruption Conference for Governments and Business in June , also involved representatives of G20 engagement groups. In addition, the B20 has recently established the Collective Action Hub, a collaborative anti-corruption information sharing forum for businesses and governments. Resources from the Anti-corruption Working Group are available on the Current Presidency page of the G20 Official Resources library.

Friday, January 3, 2020

The Use Of 1080, A And An Effective Tool For A Socio...

Achievement Standard 91602 Integrate biological knowledge to develop an informed response to a socio-scientific issue Ryan Neill 3 credits Introduction: The use of 1080, a pesticide using sodium fluoroacetate, is a contentious issue in New Zealand. 1080 is widely considered to be the most effective tool currently available to kill and eliminate pests. However, problems occur as it is such an effective killer. It kills all air breathing species that consume the product. New Zealand is the largest user of biodegradable 1080 poison, using about 80% of the world s supply. 1080 is considered to be suitable for use as a mammalian pest control in New Zealand as the country has only two native land mammals (bats). When correctly applied, 1080 is very effective at controlling Conservation Land pests. One aerial application can kill 98% of possums and more than 90% of rats in the targeted area. These successful kill percentages provide vulnerable native birds with a crucial breeding window to raise chicks through to fledging, increasing their survival rate. The DOC uses aerially applied 1080 poison across about 440,000 ha of conservation land each year. Both aerial and ground-based application of 1080 poison is also used to control rabbits. By 1960, it had become the main poison used in rabbit control. 1080 is also commonly used in Western Australia to kill feral carnivores, as the compound is naturally occurring in Western Australian flora and the native herbivores and theirShow MoreRelatedAppraisal Techniques of Public Investments and Projects62994 Words   |  252 PagesInvestment Program Investment Appraisal Training Manual for Government Staff Prepared by Sulaiman Kyambadde P.O. Box 1851 Kigali, Rwanda Tel: +250 255114413 (office) October 2011 The purpose of this Training Manual is to help PITT implement the use of international best practices of Investment Appraisal techniques in its programming of public sector investments. It describes how public sector investments should be assessed at conception or programming stage. The modules introduce the basic conceptsRead MoreMedicare Policy Analysis447966 Words   |  1792 PagesRequirements reforming health insurance marketplace. Sec. 202. Protecting the choice to keep current coverage. Subtitle B—Standards Guaranteeing Access to Affordable Coverage Sec. 211. Prohibiting preexisting condition exclusions. Sec. 212. Guaranteed issue and renewal for insured plans and prohibiting rescissions. Sec. 213. Insurance rating rules. Sec. 214. Nondiscrimination in benefits; parity in mental health and substance abuse disorder benefits. Sec. 215. Ensuring adequacy of provider networksRead More_x000C_Introduction to Statistics and Data Analysis355457 Words   |  1422 Pagesmanner—without the written permission of the publisher. Thomson Higher Education 10 Davis Drive Belmont, CA 94002-3098 USA For more information about our products, contact us at: Thomson Learning Academic Resource Center 1-800-423-0563 For permission to use material from this text or product, submit a request online at http://www.thomsonrights.com. Any additional questions about permissions can be submitted by e-mail to thomsonrights@thomson.com. Printed in the United States of America 1 2 3 4 5 6 7