Annual report and accounts

Noms variants de l'empresa: Royal Dutch Shell, Shell Petroleum Corporation, Shell International Petroleum Compan

A user's guide to the M.I.T. world energy demand data base

Prepared in association with the Sloan School of Management and the Dept. of EconomicsNational Science Foundation under Grant #GSF SIA75-0073

The Shell report

Noms variants de l'empresa: Royal Dutch Shell, Shell Petroleum Corporation, Shell International Petroleum CompanyAltres títols : Sustainability repor

The supply of North Sea oil

This paper represents a collective effort by the Supply Analysis Group of the M.I.T. World Oil Project and was partly supported by the U.S. National Science Foundation under Grant no. SIA75-00739.U.S. National Science Foundation under Grant no. SIA75-00739

Approaches of Russian oil companies to optimal capital structure

Oil companies play a vital role in Russian economy. Demand for hydrocarbon products will be increasing for the nearest decades simultaneously with the population growth and social needs. Change of raw-material orientation of Russian economy and the transition to the innovative way of the development do not exclude the development of oil industry in future. Moreover, society believes that this sector must bring the Russian economy on to the road of innovative development due to neo-industrialization. To achieve this, the government power as well as capital management of companies are required. To make their optimal capital structure, it is necessary to minimize the capital cost, decrease definite risks under existing limits, and maximize profitability. The capital structure analysis of Russian and foreign oil companies shows different approaches, reasons, as well as conditions and, consequently, equity capital and debt capital relationship and their cost, which demands the effective capital management strategy

Coalbed Methane Development in Indonesia: Design and Economic Analysis of Upstream Petroleum Fiscal Policy

Due to increasing demand for natural gas in Indonesia, the Government now promotes exploration for coalbed methane (CBM). Currently, Indonesia has 453 trillion cubic feet (TCF) of CBM reserves. However, CBM development in the country is still in the exploration phase, with significant under-investment. To attract investors, a tailored Production Sharing Contracts (PSC) regime is required. Based on a combination of Factor Analysis (FA), Discounted Cash Flows (DCF) and Parameter Sensitivity Analysis, the research explores an optimal scenario of a company’s share of revenue that optimised CBM development contracts. We find that a combination of 5 years straight line depreciation (SLD), 5% First Tranche Petroleum (FTP), 78% Contractor Share (CS) and 35% income tax best spreads the risk of CBM development and exploitation between the government and the contractor. This combination is a more suitable PSC regime for developing CBM in an early stage of the industry. Therefore, the Government must cede some taxes during exploration to incentivise CBM development. Three PSCs regimes are thus required to fully develop and exploit CBM, including exploration, transitional and exploitation phase PSCs which better match contractor risks and returns and ensure reasonable certainty of contractor cost recovery

Rethinking energy statecraft: United States foreign policy and the changing geopolitics of energy

The United States Administration has an opportunity to foster a new energy statecraft based on the realities of a dynamic and rapidly-changing global energy marketplace. The geopolitical considerations of this energy transition are not well-explored. Additionally, the recent renaissance of oil and gas in the US has reinforced the alluring notion that energy independence and national energy security are the same thing. But the global nature of energy markets expose this notion as utterly misleading. A re-envisaged energy statecraft would utilize a variety of US foreign policy and multilateral tools to reform the international energy sector, protect the global energy marketplace, and spur investments in new generation and innovation. These steps require building an integrated approach to the multiple energy-security challenges

Homogenization Pressure and Temperature Affect Protein Partitioning and Oxidative Stability of Emulsions

The oxidative stability of 10 % fish oil-in-water emulsions was investigated for emulsions prepared under different homogenization conditions. Homogenization was conducted at two different pressures (5 or 22.5 MPa), and at two different temperatures (22 and 72 °C). Milk proteins were used as the emulsifier. Hence, emulsions were prepared with either a combination of α-lactalbumin and β-lactoglobulin or with a combination of sodium caseinate and β-lactoglobulin. Results showed that an increase in pressure increased the oxidative stability of emulsions with caseinate and β-lactoglobulin, whereas it decreased the oxidative stability of emulsions with α-lactalbumin and β-lactoglobulin. For both types of emulsions the partitioning of proteins between the interface and the aqueous phase appeared to be important for the oxidative stability. The effect of pre-heating the aqueous phase with the milk proteins prior to homogenization did not have any clear effect on lipid oxidation in either of the two types of emulsions. (Résumé d'auteur

A model assessing cost of operating marine systems using data obtained from Monte Carlo analysis

This article presents a methodology for analysing the cost of operating marine systems under varying conditions. Data obtained from a previously developed Monte Carlo analysis are applied to assess the operational costs for various maintenance and inspection policies. The concept of total insured value is also applied to determine the cost attributed to risk. The aim is to show that Monte Carlo analysis can be adapted to provide information on various factors affecting operational costs to be used for decision-making to optimise the efficiency of marine systems. A method of modelling the effects of lead times due to un-stocked items has also been included to increase the scope of the analysis

Extraction of cocoa butter by supercritical carbon dioxide: optimization of operating conditions and effect of particle size.

The optimum operating conditions for the extraction of cocoa butter from cocoa liquor using supercritical carbon dioxide and the effect of sample particle size on cocoa butter extraction under optimized operating conditions were investigated. The optimization was conducted at 10–45 MPa and 35–75C, with extraction times of 1–12 h by response surface methodology. The effect of particle size was studied using cocoa liquor, ground cocoa nibs and crushed cocoa nibs with particle sizes of approximately 74 µm, 0.85–1 mm and 4–6 mm, respectively. The yield was analyzed for total fat content by gravimetric method and triacylglycerol (TAG) profile by high-performance liquid chromatography. The results showed higher yield of cocoa butter with higher values of pressure, temperature and extraction time. The optimum conditions for cocoa butter extraction were 45 MPa, 75C and 12 h. The smaller particle size produced a higher yield of cocoa butter. 1,3-Dipalmitoyl-2-oleoyl-glycerol (POP), 1-palmitoyl-2-oleoyl-3-stearoyl-glycerol (POS) and 1,3-distearoyl-2-oleoyl-glycerol (SOS) were the major TAGs present in the extracted cocoa butter, with POS being the highest (>30%) for all treatments studied