Search results for: crude oil and natural gas companies

Authors: H. Malainine, A. Amrouche, H. Benmehdi

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The aim of the present work was aimed at evaluating antifungal effect of crude esters and their corresponding FAMEs isolated from Citrullus colocynthis L., Linum usitatissimum L. and Nigella sativa L. seeds against two toxigenic fungal strains namely Aspergillus flavus and Aspergillus ochraceus. The results of the antifungal activity performed radial growth on solid medium (PDA; potatoes dextrose agar) showed that the crude esters and their corresponding FAMEs have exhibited against the two strains tested. Overall, FAMEs have provided an antifungal effect more efficient than that of crude esters. Inhibition of Aspergillus ochraceus has been labeled with percentages ranging from 13.33 to 26.61% by crude esters, While FAMEs inhibition was ranged between 27.33 to 41.13%. However, the inhibition observed against the Aspergillus flavus was varying from 14.68 to 18.59% by crude esters compared with the inhibition percentages ranging from 21.5 to 33.45% by the FAMEs. The antifungal potency of esters oils seeds of the studied plants may be an alternative for consideration by the authorities interested, due to serving the public health, in reducing the fungal enormous peril.

Keywords: Citrullus colocynthis L., Linum usitatissimum L., Nigella sativa L., FAMEs, antifungal activity, Aspergillus flavus, Aspergillus ochraceus

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Authors: Dina Ahmad Alkhodary

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This study aimed to investigate the practices of Data Mining on the telecommunication companies in Jordan, from the viewpoint of the respondents. In order to achieve the goal of the study, and test the validity of hypotheses, the researcher has designed a questionnaire to collect data from managers and staff members from main department in the researched companies. The results shows improvements stages of the telecommunications companies towered Data Mining.

Keywords: data, mining, development, business

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Authors: Kevin Krupski

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Private Military Security Companies have grown to become a major force contributor to nations in military operations. Scholars have debated the implications of this in relation to control and efficiency related to the privatization of violence, but there has been little discussion on how these companies affect the profession of arms. Specifically, this paper seeks to address how the privatization of violence influences the military’s stewardship, whether private military security companies are capable of stewardship of the military profession, and whether there are aspects of stewardship of the military profession that private military security companies are capable of emulating. This paper reviews literature on stewardship, the relationship of the military to the state, and private military security companies in order to identify overlap between uniformed military services and the private sector. Then, it offers a typology for determining under what conditions an organization would act as a steward. Ultimately, there are insufficient reasons for private military security companies to act as stewards of the profession of arms.

Keywords: stewardship, military profession, civil-military, security

Procedia PDF Downloads 220

Authors: Rodrigo Zeidan

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The paper identifies failures of decision making and corporate governance that allow non-financial companies around the world to develop hedging strategies that lead to hefty losses in the aftermath of the financial crisis. The sample is comprised of 346 companies from 10 international markets, of which 49 companies (and a subsample of 13 distressed companies) lose a combined US$18.9 billion. An event study shows that most companies that present losses in derivatives experience negative abnormal returns, including a number of companies in which the effect is persistent after a year. The results of a probit model indicate that the lack of a formal hedging policy, no monitoring to the CFOs, and considerations of hubris and remuneration contribute to the mismanagement of hedging policies.

Keywords: risk management, hedging, derivatives, monitoring, corporate governance structure, event study, hubris

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Authors: Jinhoa Lee

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The relationships between environmental quality, energy use and economic output have created growing attention over the past decades among researchers and policy makers. Focusing on the empirical aspects of the role of CO2 emissions and energy use in affecting the economic output, this paper is an effort to fulfill the gap in a comprehensive case study at a country level using modern econometric techniques. To achieve the goal, this country-specific study examines the short-run and long-run relationships among energy consumption (using disaggregated energy sources: crude oil, coal, natural gas, electricity), carbon dioxide (CO2) emissions and gross domestic product (GDP) for Turkey using time series analysis from the year 1980-2010. To investigate the relationships between the variables, this paper employs the Phillips–Perron (PP) test for stationarity, Johansen maximum likelihood method for cointegration and a Vector Error Correction Model (VECM) for both short- and long-run causality among the research variables for the sample. All the variables in this study show very strong significant effects on GDP in the country for the long term. The long-run equilibrium in the VECM suggests negative long-run causalities from consumption of petroleum products and the direct combustion of crude oil, coal and natural gas to GDP. Conversely, positive impacts of CO2 emissions and electricity consumption on GDP are found to be significant in Turkey during the period. There exists a short-run bidirectional relationship between electricity consumption and natural gas consumption. There exists a positive unidirectional causality running from electricity consumption to natural gas consumption, while there exists a negative unidirectional causality running from natural gas consumption to electricity consumption. Moreover, GDP has a negative effect on electricity consumption in Turkey in the short run. Overall, the results support arguments that there are relationships among environmental quality, energy use and economic output but the associations can to be differed by the sources of energy in the case of Turkey over of period 1980-2010.

Keywords: CO2 emissions, energy consumption, GDP, Turkey, time series analysis

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Authors: Dina Tamazin, Nicoleta Tipi, Sahar Validi

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The oil refining industry plays vital role in the world economy. Oil refining companies operate in a more complex and dynamic environment than ever before. In addition, oil refining companies and the public are becoming more conscious of crude oil scarcity and climate changes. Hence, sustainability in the oil refining industry is becoming increasingly critical to the industry's long-term viability and to the environmental sustainability. Mainly, it is relevant to the measurement and evaluation of the company's sustainable performance to support the company in understanding their performance and its implication more objectively and establishing sustainability development plans. Consequently, the oil refining companies attempt to re-engineer their supply chain to meet the sustainable goals and standards. On the other hand, this research realized that previous research in oil refining sustainable supply chain performance measurements reveals that there is a lack of studies that consider the integration of sustainability in the supply chain performance measurement practices in the oil refining industry. Therefore, there is a need for research that provides performance guidance, which can be used to measure sustainability and assist in setting sustainable goals for oil refining supply chains. Accordingly, this paper aims to present a comprehensive oil refining sustainable supply chain performance measurement theoretical framework. In development of this theoretical framework, the main characteristics of oil refining industry have been identified. For this purpose, a thorough review of relevant literature on performance measurement models and sustainable supply chain performance measurement models has been conducted. The comprehensive oil refining sustainable supply chain performance measurement theoretical framework introduced in this paper aims to assist oil refining companies in measuring and evaluating their performance from a sustainability aspect to achieve sustainable operational excellence.

Keywords: oil refining industry, oil refining sustainable supply chain, performance measurement, sustainability

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Authors: I. Graur, V. Bria, C. Muntenita

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Recent ecological interests have resulted in scientific concerns regarding natural-organic powder composites. Because natural-organic powders are cheap and biodegradable, green composites represent a substantial contribution in polymer science area. The aim of this study is to point out the effect of natural-organic powder resulting from the grinding of pine needles used as a modifying agent for Epiphen epoxy resin and is focused on friction coefficient behavior. A pin-on-disc setup is used for friction coefficient experiments. Epiphen epoxy resin was used with the different ratio of organic powder from the grinding of pine needles. Because of the challenges of natural organic powder, more and more companies are looking at organic composite materials.

Keywords: epoxy, friction coefficient, organic powder, pine needles

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Authors: Sunita Makchuchit, Arunporn Itharat

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Prasaprohyai, a Thai traditional medicine preparation listed in the Thai National List of Essential Medicines, is commonly used for treatment of fever and colds. Prasaprohyai preparation consists of 21 different plants, with Kaempferia galanga (50% w/w) as the main ingredient. The objective of this study was to investigate the anti-allergic activity of the crude extract from Prasaprohyai after accelerated stability test procedure. The method of extract used maceration in 95% ethanol and the crude extract was kept under accelerated condition at 40 ± 2 oC and 75 ± 5% relative humidity (RH) for six months. After six months of storage at 40 oC, the crude sample in various storage times (0, 15, 30, 45, 60, 90, 120, 150 and 180 days) were investigated for anti-allergic activity using IgE-sensitized RBL-2H3 cell lines. The results showed that the stability of crude ethanolic extract from Prasaprohyai under accelerated testing had no significant effect of anti-allergic activity when compared with day 0. The results showed that the ethanolic extract could be stored for two years at room temperature without loss of activity.

Keywords: accelerated stability, anti-allergy, prasaprohyai, RBL-2H3 cell lines

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Authors: Mehmood Faisal

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In this globalization era, the supply chain management has acquired strategic importance in diverse business environments. In the current highly competitive business environment, the success of any business considerably depends on the efficiency of the supply chain. The importance of petroleum industry cannot be avoided in the global market; however, supply chain management in the petroleum industry is facing various challenges, particularly in the logistics area. These logistical challenges have a main influence on the cost of crude oil; therefore, the opportunities to save cost in logistics still do exist. The large oil producing companies are undertaking future contracts through 'swaps or options' practice that saves their millions of dollars. The objective of this paper is to throw light on the supply chain challenges and opportunities in the oil industry and on swap practices which are widely employed by large oil producing companies around the world, such as Chevron Corporation, Saudi Arabian Oil Company, BP and Exxon Mobil.

Keywords: logistics, oil industry, swap practice, supply chain management

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Authors: Supriyono, Sumardiyono, Puti Pertiwi

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Crude palm oil (CPO) is a vegetable oil that came from a palm tree bunch. Palm oil tree was known as highest vegetable oil yield. It was grown across Equatorial County, especially in Malaysia and Indonesia. The greenish red color on CPO was came from carotenoid antioxidant, which could be extracted and use separately as functional food and other purposes as antioxidant source. Another antioxidant that also found in CPO is tocopherol. The aim of the research work is to find antioxidant activity on CPO comparing to the synthetic antioxidant that available in a market. On this research work, antioxidant was extracted by using a mixture of acetone and n. hexane, while activity of the antioxidant extract was determine by DPPH method. The extracted matter was shown that their antioxidant activity was about 45% compare to pure tocopherol and beta carotene.

Keywords: antioxidant, , beta carotene, , crude palm oil, , DPPH, , tocopherol

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Authors: Chiara Mansanta, Daniela Sani

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The present paper presents the further development of the application of a standard methodology to boost innovation inside real case studies of manufacturing companies. The proposed methodology provides a viable solution for manufacturing companies that have to evaluate new business ideas. The study underlined the concept of entrepreneurship and how a manager can use it to promote innovation inside their companies. Starting from a literature study on entrepreneurship, this paper examines the role of the manager in supporting a company’s development. The empirical part of the study is based on two manufacturing companies that used the proposed methodology to favour entrepreneurship through an alternative approach. The research demonstrated the need for companies to have a structured and well-defined methodology to achieve their goals. The purpose of this article is to understand the significance of business models inside companies and explore how they affect business strategy and innovation management. The idea is to use business models to support entrepreneurs in their decision-making processes, reducing risks and avoiding errors.

Keywords: entrepreneurship, manufacturing companies, solution validation, strategic management

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Authors: Idan Chiyanzu, Maruping Mangena

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Crude glycerol, a major by-product from the transesterification of triacylglycerides with alcohol to biodiesel, is known to have a broad range of applications. For example, its bioconversion can afford a wide range of chemicals including alcohols, organic acids, hydrogen, solvents and intermediate compounds. In bacteria, the 2-oxoglutarate dioxygenase (2-OGD) enzymes are widely found among the Pseudomonas syringae species and have been recognized with an emerging importance in ethylene formation. However, the use of optimized enzyme function in recombinant systems for crude glycerol conversion to ethylene is still not been reported. The present study investigated the production of ethylene from crude glycerol using engineered E. coli MG1655 and JM109 strains. Ethylene production with an optimized expression system for 2-OGD in E. coli using a codon optimized construct of the ethylene-forming gene was studied. The codon-optimization resulted in a 20-fold increase of protein production and thus an enhanced production of the ethylene gas. For a reliable bioreactor performance, the effect of temperature, fermentation time, pH, substrate concentration, the concentration of methanol, concentration of potassium hydroxide and media supplements on ethylene yield was investigated. The results demonstrate that the recombinant enzyme can be used for future studies to exploit the conversion of low-priced crude glycerol into advanced value products like light olefins, and tools including recombineering techniques for DNA, molecular biology, and bioengineering can be used to allowing unlimited the production of ethylene directly from the fermentation of crude glycerol. It can be concluded that recombinant E.coli production systems represent significantly secure, renewable and environmentally safe alternative to thermochemical approach to ethylene production.

Keywords: crude glycerol, bioethylene, recombinant E. coli, optimization

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Authors: Jinhoa Lee

Abstract:

The relationships between environmental quality, energy use and economic output have created growing attention over the past decades among researchers and policy makers. Focusing on the empirical aspects of the role of carbon dioxide (CO2) emissions and energy use in affecting the economic output, this paper is an effort to fulfill the gap in a comprehensive case study at a country level using modern econometric techniques. To achieve the goal, this country-specific study examines the short-run and long-run relationships among energy consumption (using disaggregated energy sources: Crude oil, coal, natural gas, and electricity), CO2 emissions and gross domestic product (GDP) for Iran using time series analysis from the year 1980-2010. To investigate the relationships between the variables, this paper employs the Augmented Dickey-Fuller (ADF) test for stationarity, Johansen’s maximum likelihood method for cointegration and a Vector Error Correction Model (VECM) for both short- and long-run causality among the research variables for the sample. All the variables in this study show very strong significant effects on GDP in the country for the long term. The long-run equilibrium in VECM suggests that all energy consumption variables in this study have significant impacts on GDP in the long term. The consumption of petroleum products and the direct combustion of crude oil and natural gas decrease GDP, while the coal and electricity use enhanced the GDP between 1980-2010 in Iran. In the short term, only electricity use enhances the GDP as well as its long-run effects. All variables of this study, except the CO2 emissions, show significant effects on the GDP in the country for the long term. The long-run equilibrium in VECM suggests that the consumption of petroleum products and the direct combustion of crude oil and natural gas use have positive impacts on the GDP while the consumptions of electricity and coal have adverse impacts on the GDP in the long term. In the short run, electricity use enhances the GDP over period of 1980-2010 in Iran. Overall, the results partly support arguments that there are relationships between energy use and economic output, but the associations can be differed by the sources of energy in the case of Iran over period of 1980-2010. However, there is no significant relationship between the CO2 emissions and the GDP and between the CO2 emissions and the energy use both in the short term and long term.

Keywords: CO2 emissions, energy consumption, GDP, Iran, time series analysis

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Authors: P. Massanyi, L. Kichi, T. Slanina, E. Kolesar, J. Danko, N. Lukac, E. Tvrda, R. Stawarz, A. Kolesarova

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Target of this study was the analysis of the impact of crude glycerol on canine spermatozoa motility, morphology, viability, and membrane integrity. Experiments were realized in vitro. In the study, semen from 5 large dog breeds was used. They were typical representatives of large breeds, coming from healthy rearing, regularly vaccinated and integrated to the further breeding. Semen collections were realized at the owners of animals and in the veterinary clinic. Subsequently the experiments were realized at the Department of Animal Physiology of the SUA in Nitra. The spermatozoa motility was evaluated using CASA analyzer (SpermVisionTM, Minitub, Germany) at the temperature 5 and 37°C for 5 hours. In the study, 13 motility parameters were evaluated. Generally, crude glycerol has generally negative effect on spermatozoa motility. Morphological analysis was realized using Hancock staining and the preparations were evaluated at magnification 1000x using classification tables of morphologically changed spermatozoa. Data clearly detected the highest number of morphologically changed spermatozoa in the experimental groups (know twisted tails, tail torso and tail coiling). For acrosome alterations swelled acrosomes, removed acrosomes and acrosomes with undulated membrane were detected. In this study also the effect of crude glycerol on spermatozoa membrane integrity were analyzed. The highest crude glycerol concentration significantly affects spermatozoa integrity. Results of this study show that crude glycerol has effect of spermatozoa motility, viability, and membrane integrity. Detected changes are related to crude glycerol concentration, temperature, as well as time of incubation.

Keywords: dog, semen, spermatozoa, acrosome, glycerol, CASA, viability

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Authors: Ivana Tadic, Snjezana Pivac

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Although human resources are recognized as the crucial companies’ resources and their positive influence on companies’ performances has been confirmed through different researches, scientists are still debating it. In order to contribute this debate, this paper firstly discusses the most important human resource management elements and practices and its influence on companies’ success. Afterwards it defines human resource “bundles” – interrelated and internally consistent human resource practices, complementary to each other, or the most important human resource practices and elements regarding Croatian companies and its human resource management activities. Finally, the paper provides empirical results; more precisely it reveals the relation of the level of development of human resource management function (“bundles”) and companies’ financial performances (using profitability ratios, liquidity ratios, solvency ratios and a group of additional ratios related to employees’ indicators).

Keywords: companies’ performances, human resource bundles, multivariate statistical analysis, marketing

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Authors: Furqan M. Kadhum, Asmaa A. Hussein, Maysaa Ch. Hatem

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Hyaluronidase enzyme was purified from the clinical isolate Staphyloccus aureus in three purification steps, first by precipitation with 90% saturated ammonium sulfate, ion exchange chromatography on DEAE-Cellulose, and gel filtration chromatography throughout Sephacryl S-300. Specific activity of the purified enzyme was reached 930 U/mg protein with 7.4 folds of purification and 46.5% recovery. The enzyme has an average molecular weight of about 69 kDa, with an optimum pH of enzyme activity and stability at pH 7, also the optimum temperature for activity was 37oC. The enzyme was stable with full activity at a temperature ranged between 30-40 oC. Metal ions showed variable inhibitory degree with the strongest effect for Fe+3, however, the chelating and reducing agents had no or little effects. Cytotoxic studies for purified and crude hyaluronidase against cancer cell Hep G2 type at different enzyme concentrations and exposure times showed that the inhibition effect of both crude and purified enzyme increased by increasing the enzyme concentration with no change was observed at 24hr, while at 48 and 72 hrs the same inhibition rate were observed for purified enzyme and differ for the crude filtrate.

Keywords: hyaluronidase, S. aureus, metal ions, cytotoxicity

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Authors: Adebola Ajayi

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Ocimum gratissimum belongs to the Lamiaceae family and is know generally as African Basil. Ocimum gratissimum leaves are widely used as local condiments in diets. The leaves were destalked sorted, washed with potable water to remove dirts, air dried for 14 days under ambient temperature and milled into powder. The proximate composition and mineral contents of Ocimum gratissimum leaves were investigated. The proximate analysis showed the moisture, crude, protein, total ash, crude fiber, crude lipid and total carbohydrate contents were 10.72±0.01%, 12.98±0.10%, 10.95±0.42, 10.21±0.04%, 4.81±0.04% and 49.01±0.25% respectively. The results of the analysis showed that Ocimum gratissimum could be a good source of important food nutrients.

Keywords: African Basil, drying, Ocimum gratissimum, proximate

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Authors: Nurcan Cetinkaya

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The aim of this paper is to bring about the utilization of Juncus acutus as an alternative roughage resource in ruminant nutrition. In Turkey, JA is prevailing plant of the natural grassland in Kizilirmak Delta, Samsun. Crude nutrient values such as crude protein (CP), ether extract (EE), organic matter (OM), neutral detergent fiber (NDF), acid detergent fiber (ADF), and acid detergent lignin(ADL) including antioxidant activity, total phenolic and flavonoid compounds, total organic matter digestibility (OMD) and metabolisable energy (ME) values of Juncus acutus stem, seed, and also its mixture with maize silage were estimated. and published. Furthermore, the effects of JA over rumen cellulolitic bacteria were studied. The obtained results from different studies conducted on JA by our team show that Juncus acutus may be a new roughage source in ruminant nutrition.

Keywords: antioxidant activity, cellulolytic bacteria, Juncus acutus, organic matter digestibility

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Authors: Mostafa Ahmed Shokshok

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Libyan industrial companies face many challenges in today's competitive market. Quality management culture approaches is one of these challenges which may furnish the road to the Libyan industrial companies to effectively empower their employees and improve their ability to respond to the international competition. The primary objective of this paper is to design a practical approach to guide Libyan industrial companies toward successful quality culture implementation.

Keywords: TQM, quality culture, Libyan manufacturing industries, quality framework

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Authors: Gordon Newlove Asamoah, Wendy Ama Oti

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This study focused on evaluating access to finance for local oil field companies in Ghana. The study adopted a census survey design in evaluating access to finance for local oil field companies in Ghana. The respondents of this study were 30 management members of three oil field companies in Ghana. The data collected was analysed using Statistical Package for Social Scientists (SPSS) to generate tables and graphs for interpretation. The results show that most companies use equity financing in combination with other forms of financing to finance their business activities. This research has shown the various challenges bordering on the financing of local oil and gas projects, with emphasis on the challenges of raising funds by indigenous oil companies. Financing of the projects by indigenous oil field companies in Ghana is preferably achieved through equity finance mainly because it is the easiest to get compared to all the other forms of financing available. Other sources of financing available are debt financing, joint venture, and retained earnings from the profits generated from their operations. The study made recommendations to local oil field companies as to how they can make good use of the capital market to raise financing.

Keywords: access, financing, oil fields, Ghana

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Authors: Aliya Kurbanova, Nurlan Akhmetov, Abilmansur Yeshmuratov, Yerzhigit Sugurbekov, Ramiz Zulkharnay, Gulzat Demeuova, Murat Baisariyev, Gulnar Sugurbekova

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Last decades crude oils have tended to become more challenge to process due to increasing amounts of sour and heavy crude oils. Some crude oils contain high vanadium and nickel content, for example Pavlodar LLP crude oil, which contains more than 23.09 g/t nickel and 58.59 g/t vanadium. In this study, we used two types of metal removing methods such as solvent extraction and electrochemical. The present research is conducted for comparative analysis of the deasphalting with organic solvents (cyclohexane, carbon tetrachloride, chloroform) and electrochemical method. Applying the cyclic voltametric analysis (CVA) and Inductively coupled plasma mass spectrometry (ICP MS), these mentioned types of metal extraction methods were compared in this paper. Maximum efficiency of deasphalting, with cyclohexane as the solvent, in Soxhlet extractor was 66.4% for nickel and 51.2% for vanadium content from crude oil. Percentage of Ni extraction reached maximum of approximately 55% by using the electrochemical method in electrolysis cell, which was developed for this research and consists of three sections: oil and protonating agent (EtOH) solution between two conducting membranes which divides it from two capsules of 10% sulfuric acid and two graphite electrodes which cover all three parts in electrical circuit. Ions of metals pass through membranes and remain in acid solutions. The best result was obtained in 60 minutes with ethanol to oil ratio 25% to 75% respectively, current fits into the range from 0.3A to 0.4A, voltage changed from 12.8V to 17.3V.

Keywords: demetallization, deasphalting, electrochemical removal, heavy metals, petroleum engineering, solvent extraction

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Authors: S. M. Anisuzzaman, Sariah Abang, Awang Bono, D. Krishnaiah, N. M. Ismail, G. B. Sandrison

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Wax and asphaltene are high molecular weighted compounds that contribute to the stability of crude oil at a dispersed state. Transportation of crude oil along pipelines from the oil rig to the refineries causes fluctuation of temperature which will lead to the coagulation of wax and flocculation of asphaltenes. This paper focuses on the prevention of wax and asphaltene precipitate deposition on the inner surface of the pipelines by using a wax inhibitor and an asphaltene dispersant. The novelty of this prevention method is the combination of three substances; a wax inhibitor dissolved in a wax inhibitor solvent and an asphaltene solvent, namely, ethylene-vinyl acetate (EVA) copolymer dissolved in methylcyclohexane (MCH) and toluene (TOL) to inhibit the precipitation and deposition of wax and asphaltene. The objective of this paper was to optimize the percentage composition of each component in this inhibitor which can maximize the viscosity reduction of crude oil. The optimization was divided into two stages which are the laboratory experimental stage in which the viscosity of crude oil samples containing inhibitor of different component compositions is tested at decreasing temperatures and the data optimization stage using response surface methodology (RSM) to design an optimizing model. The results of experiment proved that the combination of 50% EVA + 25% MCH + 25% TOL gave a maximum viscosity reduction of 67% while the RSM model proved that the combination of 57% EVA + 20.5% MCH + 22.5% TOL gave a maximum viscosity reduction of up to 61%.

Keywords: asphaltene, ethylene-vinyl acetate, methylcyclohexane, toluene, wax

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Authors: Devina Aprilia Gunawan, Tasya Aspiranti, Inugrah Ratia Pratiwi

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This research aims to classify the mining sector companies based on Altman’s Z-score model, and providing an analysis based on the Altman’s Z-score model’s financial ratios to provide a picture about the financial condition in mining sector companies in Indonesia and their viability in the future, and to find out the partial and simultaneous impact of each of the financial ratio variables in the Altman’s Z-score model, namely (WC/TA), (RE/TA), (EBIT/TA), (MVE/TL), and (S/TA), toward the financial condition represented by the Z-score itself. Among 38 mining sector companies listed in Indonesia Stock Exchange (IDX), 28 companies are selected as research sample according to the purposive sampling criteria.The results of this research showed that during 3 years research period at 2010-2012, the amount of the companies that was predicted to be healthy in each year was less than half of the total sample companies and not even reach up to 50%. The multiple regression analysis result showed that all of the research hypotheses are accepted, which means that (WC/TA), (RE/TA), (EBIT/TA), (MVE/TL), and (S/TA), both partially and simultaneously had an impact towards company’s financial condition.

Keywords: Altman’s Z-score model, financial condition, mining companies, Indonesia

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Authors: Waqar Ahmad Butt, Gholamreza Vakili Nezhaad, Ali Soud Al Bemani, Yahya Al Wahaibi

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Minimum miscibility pressure (MMP) plays a great role in determining the displacement efficiency of different gas injection processes. Experimental techniques for MMP determination include industrially recommended slim tube, vanishing interfacial tension (VIT) and rising bubble apparatus (RBA). In this paper, MMP measurement study using slim tube and VIT experimental techniques for two different crude oil samples (M and N) both in live and stock tank oil forms is being presented. VIT measured MMP values for both 'M' and 'N' live crude oils were close to slim tube determined MMP values with 6.4 and 5 % deviation respectively. Whereas for both oil samples in stock tank oil form, VIT measured MMP showed a higher unacceptable deviation from slim tube determined MMP. This higher difference appears to be related to high stabilized crude oil heavier fraction and lack of multiple contacts miscibility. None of the different nine deployed crude oil and CO2 MMP computing correlations could result in reliable MMP, close to slim tube determined MMP. Since VIT determined MMP values for both considered live crude oils are in close match with slim tube determined MMP values, it confirms reliable, reproducible, rapid and cheap alternative for live crude oil MMP determination. Whereas VIT MMP determination for stock tank oil case needed further investigation about stabilization / destabilization mechanism of oil heavier ends and multiple contacts miscibility development issues.

Keywords: minimum miscibility pressure, interfacial tension, multiple contacts miscibility, heavier ends

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Authors: Eworo David

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It is dearly evident that a company which does not and will not innovate faces the grave danger of being pushed out of existence. The purpose of this study is to bring to knowledge of companies the significance of capital budgeting in viable project implementation and for proper investment appraisal as regards steps involved in effective investment strategies. The study examines investment policies of Nigeria companies. It deals with an overview of capital budgeting. The analysis covers the data gathered from two multi-national companies in Nigeria. The population of the study was the senior managers and the top management staff of the companies. The system of capital budgeting structure and project implementation styles were compared and contrasted to determine whether the system has MADE or MARRED the development of the organizations. The recommendations contribute towards Nigeria companies to remain and survive in business through the use of capital budgeting.

Keywords: appraisal, budgeting structure, capital budgeting, effective investment strategies

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Authors: Sepinoud Hamedi

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Over the past few decades, companies have appeared developing concerns in connection to the natural affect of their fabricating exercises. Green supply chain administration has been considered by the producers as a attainable choice to decrease the natural affect of operations whereas at the same time moving forward their operational execution. Contemporaneously the coming of digitalization and globalization within the supply chain space has driven to a developing acknowledgment of the importance of data preparing methodologies, such as enormous information analytics and fake insights innovations, in improving and optimizing supply chain execution. Also, supply chain collaboration in part intervenes the relationship between manufactured innovation and supply chain execution Ponders appear that the use of BDA-AI advances includes a significant impact on natural handle integration and green supply chain collaboration conjointly underlines that both natural handle integration and green supply chain collaboration have a critical affect on natural execution. Correspondingly savvy supply chain contributes to green execution through overseeing green connections and setting up green operations.

Keywords: green supply chain, artificial intelligence, manufacturers, technology, environmental

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Authors: Kateřina Struhařová

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The paper gives the evidence of quality of accounting information of Czech private companies. In general the private companies in the Czech Republic do not see the benefits of providing accounting information of high quality. Based on the research of financial statements of entrepreneurs and companies in Zlin region it was confirmed that the quality of accounting information differs among the private entities and that the major impact on the accounting information quality has the fact if the financial statements are audited as well as the size of the entity. Also the foreign shareholders and lenders have some impact on the accounting information quality.

Keywords: accounting information quality, financial statements, Czech Republic, private companies

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Authors: Jinhoa Lee

Abstract:

The relationships between environmental quality, energy use and economic output have created growing attention over the past decades among researchers and policy makers. Focusing on the empirical aspects of the role of carbon dioxide (CO2) emissions and energy use in affecting the economic output, this paper is an effort to fulfill the gap in a comprehensive case study at a country level using modern econometric techniques. To achieve the goal, this country-specific study examines the short-run and long-run relationships among energy consumption (using disaggregated energy sources: crude oil, coal, natural gas, electricity), CO2 emissions and gross domestic product (GDP) for Egypt using time series analysis from the year 1980-2010. To investigate the relationships between the variables, this paper employs the Augmented Dickey-Fuller (ADF) test for stationarity, Johansen maximum likelihood method for co-integration and a Vector Error Correction Model (VECM) for both short- and long-run causality among the research variables for the sample. The long-run equilibrium in the VECM suggests some negative impacts of the CO2 emissions and the coal and natural gas use on the GDP. Conversely, a positive long-run causality from the electricity consumption to the GDP is found to be significant in Egypt during the period. In the short-run, some positive unidirectional causalities exist, running from the coal consumption to the GDP, and the CO2 emissions and the natural gas use. Further, the GDP and the electricity use are positively influenced by the consumption of petroleum products and the direct combustion of crude oil. Overall, the results support arguments that there are relationships among environmental quality, energy use, and economic output in both the short term and long term; however, the effects may differ due to the sources of energy, such as in the case of Egypt for the period of 1980-2010.

Keywords: CO2 emissions, Egypt, energy consumption, GDP, time series analysis

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Authors: Wanthani Paengsri, Thanyarat Chuesaard, Napapha Promsawan

Abstract:

Spilanthes acmella Murr. was extracted with methanol, yielding methanol crude extract 5.86 %w/w. This study aimed to examine the chemical composition and antioxidant activity of methanolic crude extract. The chemical composition of methanolic crude extract was analyzed by gas chromatography-mass spectrometry (GC-MS). The predominant components were found to be palmitic acid (40.08%), 2-hexadecanoyl glycerol (6.96%) and octadecanoic acid (4.06%). Antioxidant activity was determined using 2,2-diphenyl-1-picryl hydrazyl (DPPH) free radical, for evaluating free radicle scavenging activity. The methanolic extract at 150 µg/mL showed an antioxidant activity with high of radical scavenging activity (75.23%).

Keywords: antioxidant activity, GC-MS analysis, Spilanthes, Phak-Kratt Hauwaen

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Authors: Saeidreza Radpour, Md. Ahiduzzaman, Amit Kumar

Abstract:

Alberta’s mining sector consumed 871.3 PJ in 2012, which is 67.1% of the energy consumed in the industry sector and about 40% of all the energy consumed in the province of Alberta. Natural gas, petroleum products, and electricity supplied 55.9%, 20.8%, and 7.7%, respectively, of the total energy use in this sector. Oil sands mining and upgrading to crude oil make up most of the mining energy sector activities in Alberta. Crude oil is produced from the oil sands either by in situ methods or by the mining and extraction of bitumen from oil sands ore. In this research, the factors affecting oil sands production have been assessed and a framework has been developed for market penetration of new efficient technologies in this sector. Oil sands production amount is a complex function of many different factors, broadly categorized into technical, economic, political, and global clusters. The results of developed and implemented statistical analysis in this research show that the importance of key factors affecting on oil sands production in Alberta is ranked as: Global energy consumption (94% consistency), Global crude oil price (86% consistency), and Crude oil export (80% consistency). A framework for modeling oil sands energy technologies’ market penetration (OSETMP) has been developed to cover related technical, economic and environmental factors in this sector. It has been assumed that the impact of political and social constraints is reflected in the model by changes of global oil price or crude oil price in Canada. The market share of novel in situ mining technologies with low energy and water use are assessed and calculated in the market penetration framework include: 1) Partial upgrading, 2) Liquid addition to steam to enhance recovery (LASER), 3) Solvent-assisted process (SAP), also called solvent-cyclic steam-assisted gravity drainage (SC-SAGD), 4) Cyclic solvent, 5) Heated solvent, 6) Wedge well, 7) Enhanced modified steam and Gas push (emsagp), 8) Electro-thermal dynamic stripping process (ET-DSP), 9) Harris electro-magnetic heating applications (EMHA), 10) Paraffin froth separation. The results of the study will show the penetration profile of these technologies over a long term planning horizon.

Keywords: appliances efficiency improvement, diffusion models, market penetration, residential sector

Procedia PDF Downloads 295