Search results for: refinery and petrochemical economics

Authors: Robin Molinier

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Industrial symbiosis (I.S) deals with the exchange of waste materials, fatal energy and utilities as resources for production. While it brings environmental benefits from resource conservation its economic profitability is one of the main barriers to its implementation. I.S involves several actors with their own objectives and resources so that each actor must be satisfied by ex-ante arrangements to commit toward investments and transactions. Regarding I.S Transaction cost economics helps to identify hybrid forms of governance for transactions governance due to I.S projects specificities induced by the need for customization (asset specificity, non-homogeneity). Thus we propose a framework to analyze the best contractual practices tailored to address I.S specific risks that we identified as threefold (load profiles and quality mismatch, value fluctuations). Schemes from cooperative game theory and contracting management are integrated to analyze value flows between actors. Contractual guidelines are then proposed to address the identified risks and to split the value for a set of I.S archetypes drawn from actual experiences.

Keywords: contracts, economics, industrial symbiosis, risks

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Authors: A. A. M. Azoddein, Y. Nuratri, A. B. Bustary, F. A. M. Azli, S. C. Sayuti

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Pseudomonas putida is a potential strain in biological treatment to remove mercury contained in the effluent of petrochemical industry due to its mercury reductase enzyme that able to reduce ionic mercury to elementary mercury. Freeze-dried P. putida allows easy, inexpensive shipping, handling and high stability of the product. This study was aimed to freeze dry P. putida cells with addition of lyoprotectant. Lyoprotectant was added into the cells suspension prior to freezing. Dried P. putida obtained was then mixed with synthetic mercury. Viability of recovery P. putida after freeze dry was significantly influenced by the type of lyoprotectant. Among the lyoprotectants, tween 80/ sucrose was found to be the best lyoprotectant. Sucrose able to recover more than 78% (6.2E+09 CFU/ml) of the original cells (7.90E+09CFU/ml) after freeze dry and able to retain 5.40E+05 viable cells after 4 weeks storage in 4oC without vacuum. Polyethylene glycol (PEG) pre-treated freeze dry cells and broth pre-treated freeze dry cells after freeze-dry recovered more than 64% (5.0 E+09CFU/ml) and >0.1% (5.60E+07CFU/ml). Freeze-dried P. putida cells in PEG and broth cannot survive after 4 weeks storage. Freeze dry also does not really change the pattern of growth P. putida but extension of lag time was found 1 hour after 3 weeks of storage. Additional time was required for freeze-dried P. putida cells to recover before introduce freeze-dried cells to more complicated condition such as mercury solution. The maximum mercury reduction of PEG pre-treated freeze-dried cells after freeze dry and after storage 3 weeks was 56.78% and 17.91%. The maximum of mercury reduction of tween 80/sucrose pre-treated freeze-dried cells after freeze dry and after storage 3 weeks were 26.35% and 25.03%. Freeze dried P. putida was found to have lower mercury reduction compare to the fresh P. putida that has been growth in agar. Result from this study may be beneficial and useful as initial reference before commercialize freeze-dried P. putida.

Keywords: Pseudomonas putida, freeze-dry, PEG, tween80/Sucrose, mercury, cell viability

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Authors: Maryam Ehsanpour, Maryam Malekpour, Rastin Afkhami

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Today, industry is one of the indices of growth and development of countries and is a suitable applicable criterion to compare the countries. Bandar Abbas has a high industrial centralization in term of geographical redundancy of industries in comparison with other rural and urban places of Hormozgan province. Most important and major industries of the province are located in Bandar abbas eighth refinery, power plant, zinc melting company, Almahdi Aluminium, Hormozgan steel, south steel, which are the most important of these industries. So, it is necessary to study pollution from these industries and their destructive effects on environment of region. In respect of these things, general purpose of this research is codling and presenting managing solution of Almahdi Aluminium factory in them of measuring of air (atmosphere) parameters. For gaining this purpose it is necessary to determine measure of heavy metals suspension in the air (atmosphere) in the neighborhood of industries and also in residential regions close to them as partial purposes. So, for achieving the purposes above, operation of sampling from the air in two hot and cold seasons of the year (2010-2011) was performed, after field reviews to recognize the sources of effluence and to choose place of sampling stations. Sampling and preparation way to read was based on EPA and NIOSH. Also, decreasing process was included Fe>Al>Cd>Pb>Ni respectively, in term of results gaining from sampling of ingredients existing in the air (atmosphere). Also Ni and Fe elements in samples of air were higher than permissive measure in both of cold and hot season. Average of these two metals was 34% and 33% in cold season and 44% and 34% micrograms/m3 in hot season. Finally, suitable managing solutions to improve existing situation is presented in term for all results.

Keywords: Almahdi aluminium factory, Bandar Abbas, scarce metals, atmosphere

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Authors: Ramon Hernán, Maria Teresa Corzo

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This study examines the impact and contribution of the main journals in the discipline of behavioral finance to determine the state of the art of the discipline and the growth lines and concepts studied to date. This is a unique and novel study given that a review of the discipline has not been carried out through the keywords of the articles that allows visualizing through this component of the research, which are the main topics of discussion and the relationships that arise between the concepts discussed. To carry out this study, 3,876 articles have been taken as a reference, which includes 15,859 keywords from the main journals responsible for the growth of the discipline.; Journal of Behavioral Finance, Review of Behavioral Finance, Journal of Behavioral and Experimental Economics, Journal of Behavioral and Experimental Economics and Review of Behavioral Finance. The results indicate which are the topics most covered in the discipline throughout the period from 2000 to 2020, how these concepts have been dealt with on a recurring basis along with others throughout the aforementioned period and how the different concepts have been grouped based on the keywords established by the authors for the classification of their articles with a network diagram to complete the analysis.

Keywords: behavioral finance, keywords, co-words, top journals, data visualization

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Authors: Xingyue Yang

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This study focused on Chinese social media stars and the relationship between their level of fame on the social media platform Sina Weibo and their sales revenue on the E-commerce platform Taobao/Tmall.com. This was viewed from the perspective of Adler’s superstardom theory and Rosen and MacDonald’s theories examining the economics of celebrities who build their audience using digital, rather than traditional platforms. Theory and empirical research support the assertion that stars of traditional media achieve popular success due to a combination of talent and market concentration, as well as a range of other factors. These factors are also generally considered relevant to the popularisation of social media stars. However, success across digital media platforms also involves other variables - for example, upload strategies, cross-platform promotions, which often have no direct corollary in traditional media. These factors were the focus of our study, which investigated the relationship between popularity, promotional strategy and sales revenue for 15 social media stars who specialised in culinary topics on the Chinese social media platform Sina Weibo. In 2019, these food bloggers made a total of 2076 Sina Weibo posts, and these were compiled alongside calculations made to determine each food blogger’s sales revenue on the eCommerce platforms Taobao/Tmall. Quantitative analysis was then performed on this data, which determined that certain upload strategies on Weibo - such as upload time, posting format and length of video - have an important impact on the success of sales revenue on Taobao/Tmall.com.

Keywords: attention economics, digital media, network effect, social media stars

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Authors: Raheb Mirzanamadi, João Patrício

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Asphalt rubber (AR) was initially developed in Sweden in the 1960s by replacing crumb rubber (CR) as aggregates in asphalt pavement. The AR produced by this method had better mechanical properties than conventional asphalt pavement but was very expensive. Since then, different technologies and methods have been developed to use CR in asphalt pavements, including blending CR with bitumen at a high temperature in the mixture, called the wet method, and blending CR with bitumen in the refinery, called the terminal blending method. In 2006, the wet method was imported from the USA to Sweden to evaluate the potential of using AR on Swedish roads. 154 km AR roads were constructed by the wet method in Sweden. The evaluation showed that the AR had, in most cases, better mechanical performance than conventional asphalt pavements. However, the terrible smoke and smell led the Swedish Transport Administration (STA) to stop using AR in Sweden. Today, there are few focuses on AR, despite its good mechanical properties and environmental aspects. Hence, there is a need to study the drives and barriers of using AR mixture in Sweden. The aims of this paper are: (i) to study drivers and barriers of using AR pavements in Sweden and (ii) to discover knowledge gaps for further research in this area. The study was done using a literature review and completed by interviews with experts, including three researchers from Swedish National Road and Transport Research Institute (VTI) and two experts from STA. The results showed that AR can be an alternative not only for conventional asphalt pavement but also for polymer modified asphalt (PMA) due to the same mechanical properties but the lower cost for production. New technologies such as terminal blending and using warm mix asphalt (WMA) methods can lead to reducing the energy and temperature during production processes. From this study, it is found that there is not enough experience and knowledge about AR in Sweden, and more research is needed, including the lifespan of AR, mechanical properties of AR using new technologies, and the impact of AR on spreading and leaching substances into nature. More studies can lead to standardization of using AR in Sweden, a potential solution for the use of end-of-life tyres, with better mechanical properties and lower costs, in comparison with conventional asphalt pavements and PMA.

Keywords: asphalt rubber, crumb rubber, terminal blending method, wet method

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Authors: Bruno Škrinjarić

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Rapid technological developments and increase in organizations’ interdependence on international scale are changing the traditional workplace paradigm. A key feature of knowledge based economy is that employers are looking for individuals that possess both specific academic skills and knowledge, and also capability to be proactive and respond to problems creatively and autonomously. The focus of this paper is workers with Economics and Business background and its goals are threefold: (1) to explore wide range of competences and identify which are the most important to employers; (2) to investigate the existence and magnitude of gap between required and possessed level of a certain competency; and (3) to inquire how this gap is connected with performance of a company. A study was conducted on a representative sample of Croatian enterprises during the spring of 2016. Results show that generic, rather than specific, competences are more important to employers and the gap between the relative importance of certain competence and its current representation in existing workforce is greater for generic competences than for specific. Finally, results do not support the hypothesis that this gap is correlated with firms’ performance.

Keywords: competency gap, competency matching, key competences, firm performance

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Authors: Stellina Jolly

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July 18th to August 19th 2013 has gone down in the history of India for undertaking the country’s first environment referendum. The Supreme Court had ruled that the Vedanta Group's bauxite mining project in the Niyamgiri Hills of Orissa will have to get clearance from the gram sabha, which will consider the cultural and religious rights of the tribals and forest dwellers living in Rayagada and Kalahandi districts. In the Niyamgiri hills, people of small tribal hamlets were asked to voice their opinion on bauxite mining in their habitat. The ministry has reiterated its stand that mining cannot be allowed on the Niyamgiri hills because it will affect the rights of the Dongria Kondhs. The tribal person who occupies the Niyamgiri Hills in Eastern India accomplished their first success in 2010 in their struggle to protect and preserve their existence, culture and land against Vedanta a London-based mining giant. In August, 2010 Government of India revoked permission for Vedanta Resources to mine bauxite from hills in Orissa State where the Dongria Kondh live as forest dwellers. This came after various protests and reports including amnesty report wherein it highlighted that an alumina refinery in eastern India operated by a subsidiary of mining company. Vedanta was accused of causing air and water pollution that threatens the health of local people and their access to water. The abuse of human rights by corporate is not a new issue it has occurred in Africa, Asia and other parts of the world. Paper focuses on the instances and extent of human right especially in terms of environment violations by corporations. Further Paper details on corporations and sustainable development. Paper finally comes up with certain recommendation including call for a declaration by United Nations on Corporate environment Human Rights Liability.

Keywords: environment, corporate, human rights, sustainable development

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Authors: J. K. Visser, H. T. Malan

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A need exists to identify the sources of risks associated with the process automation systems within petrochemical companies or similar energy related industries. These companies use many different process automation technologies in its value chain. A crucial part of the process automation system is the information technology component featuring in the supervisory control layer. The ever-changing technology within the process automation layers and the rate at which it advances pose a risk to safe and predictable automation system performance. The age of the automation equipment also provides challenges to the operations and maintenance managers of the plant due to obsolescence and unavailability of spare parts. The main objective of this research was to determine the risk sources associated with the equipment that is part of the process automation systems. A secondary objective was to establish whether technology managers and technicians were aware of the risks and share the same viewpoint on the importance of the risks associated with automation systems. A conceptual model for risk sources of automation systems was formulated from models and frameworks in literature. This model comprised six categories of risk which forms the basis for identifying specific risks. This model was used to develop a questionnaire that was sent to 172 instrument technicians and technology managers in the company to obtain primary data. 75 completed and useful responses were received. These responses were analyzed statistically to determine the highest risk sources and to determine whether there was difference in opinion between technology managers and technicians. The most important risks that were revealed in this study are: 1) the lack of skilled technicians, 2) integration capability of third-party system software, 3) reliability of the process automation hardware, 4) excessive costs pertaining to performing maintenance and migrations on process automation systems, and 5) requirements of having third-party communication interfacing compatibility as well as real-time communication networks.

Keywords: distributed control system, identification of risks, information technology, process automation system

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Authors: Sylvain Caillol, Maxence Fache, Bernard Boutevin

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Recent years have witnessed an increasing demand on renewable resource-derived polymers owing to increasing environmental concern and restricted availability of petrochemical resources. Thus, a great deal of attention was paid to renewable resources-derived polymers and to thermosetting materials especially, since they are crosslinked polymers and thus cannot be recycled. Also, most of thermosetting materials contain aromatic monomers, able to confer high mechanical and thermal properties to the network. Therefore, the access to biobased, non-harmful, and available aromatic monomers is one of the main challenges of the years to come. Starting from phenols available in large volumes from renewable resources, our team designed platforms of chemicals usable for the synthesis of various polymers. One of these phenols, vanillin, which is readily available from lignin, was more specifically studied. Various aromatic building blocks bearing polymerizable functions were synthesized: epoxy, amine, acid, carbonate, alcohol etc. These vanillin-based monomers can potentially lead to numerous polymers. The example of epoxy thermosets was taken, as there is also the problematic of bisphenol A substitution for these polymers. Materials were prepared from the biobased epoxy monomers obtained from vanillin. Their thermo-mechanical properties were investigated and the effect of the monomer structure was discussed. The properties of the materials prepared were found to be comparable to the current industrial reference, indicating a potential replacement of petrosourced, bisphenol A-based epoxy thermosets by biosourced, vanillin-based ones. The tunability of the final properties was achieved through the choice of monomer and through a well-controlled oligomerization reaction of these monomers. This follows the same strategy than the one currently used in industry, which supports the potential of these vanillin-derived epoxy thermosets as substitutes of their petro-based counterparts.

Keywords: lignin, vanillin, epoxy, amine, carbonate

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Authors: Amin Padash, Gholam Reza Nabi Bid Hendi, Hassan Hoveidi

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Purpose: The aim of this research is developing a model for green management based on Health, Safety and Environmental Management System. An HSE-MS can be a powerful tool for organizations to both improve their environmental, health and safety performance, and enhance their business efficiency to green management. Model: The model is developed in this study can be used for industries as guidelines for implementing green management issue by considering Health, Safety and Environmental Management System. Case Study: The Pars Special Economic / Energy Zone Organization on behalf of Iran’s Petroleum Ministry and National Iranian Oil Company (NIOC) manages and develops the South and North oil and gas fields in the region. Methodology: This research according to objective is applied and based on implementing is descriptive and also prescription. We used technique MCDM (Multiple Criteria Decision-Making) for determining the priorities of the factors. Based on process approach the model consists of the following steps and components: first factors involved in green issues are determined. Based on them a framework is considered. Then with using MCDM (Multiple Criteria Decision-Making) algorithms (TOPSIS) the priority of basic variables are determined. The authors believe that the proposed model and results of this research can aid industries managers to implement green subjects according to Health, Safety and Environmental Management System in a more efficient and effective manner. Finding and conclusion: Basic factors involved in green issues and their weights can be the main finding. Model and relation between factors are the other finding of this research. The case is considered Petrochemical Company for promoting the system of ecological industry thinking.

Keywords: Fuzzy-AHP method , green management, health, safety and environmental management system, MCDM technique, TOPSIS

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Authors: Hasan Izhar Khan, Naiqiang Zhang, Hong Xu, Zhongliang Zhu, Dongfang Jiang

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Inconel 625 is a nickel-based alloy having outstanding corrosion resistance and developed for use at service temperatures ranging from cryogenic to 980°C. It got a wide range of applications in nuclear, petrochemical, chemical, marine, aeronautical, and aerospace industries. Currently, it is one of the candidate materials to be used as a structural material in ultra-supercritical (USC) power plants. In the high-temperature corrosive medium environment, metallic materials are susceptible to corrosion fatigue (CF). CF is an interaction between cyclic stress and corrosive medium environment that acts on a susceptible material and results in initiation and propagation of cracks. For the application of Inconel 625 as a structural material in USC power plants, CF behavior must be evaluated in steam and supercritical water (SCW) environment. Fatigue crack growth rate (FCGR) curves obtained from CF experiments are required to predict residual life of metallic materials used in power plants. In this study, FCGR tests of Inconel 625 were obtained by using compact tension specimen at 550-650 °C in steam (8 MPa) and SCW (25 MPa). The dissolved oxygen level was kept constant at 8000 ppb for the test conducted in steam and SCW. The tests were performed under sine wave loading waveform, 1 Hz loading frequency, stress ratio of 0.6 and maximum stress intensity factor of 32 MPa√m. Crack growth rate (CGR) was detected by using direct current potential drop technique. Results showed that CGR increased with an increase in temperature in the tested environmental conditions. The mechanism concerning the influence of temperature on FCGR are further discussed.

Keywords: corrosion fatigue, crack growth rate, nickel-based alloy, temperature

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Authors: Sandra Cecilia Bautista-Rodríguez, Vladimir Melgarejo

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Climate change, loss of ecosystems, increasing poverty, increasing marginalization of rural communities and declining food security are global issues that require urgent attention. In this regard, a great deal of research has focused on how agroecosystems respond to these challenges as they provide ecosystem services (ES) that lead to higher levels of resilience, adaptation, productivity and self-sufficiency. Hence, the valuing of ecosystem services plays an important role in the decision-making process for the design and management of agroecosystems. This paper aims to define the link between ecosystem service valuation methods and ES value dimensions in agroecosystems from ecological economics and agroecology. The method used to identify valuation methodologies was a literature review in the fields of Agroecology and Ecological Economics, based on a strategy of information search and classification. The conceptual framework of the work is based on the multidimensionality of value, considering the social, ecological, political, technological and economic dimensions. Likewise, the valuation process requires consideration of the ecosystem function associated with ES, such as regulation, habitat, production and information functions. In this way, valuation methods for ES in agroecosystems can integrate more than one value dimension and at least one ecosystem function. The results allow correlating the ecosystem functions with the ecosystem services valued, and the specific tools or models used, the dimensions and valuation methods. The main methodologies identified are multi-criteria valuation (1), deliberative - consultative valuation (2), valuation based on system dynamics modeling (3), valuation through energy or biophysical balances (4), valuation through fuzzy logic modeling (5), valuation based on agent-based modeling (6). Amongst the main conclusions, it is highlighted that the system dynamics modeling approach has a high potential for development in valuation processes, due to its ability to integrate other methods, especially multi-criteria valuation and energy and biophysical balances, to describe through causal cycles the interrelationships between ecosystem services, the dimensions of value in agroecosystems, thus showing the relationships between the value of ecosystem services and the welfare of communities. As for methodological challenges, it is relevant to achieve the integration of tools and models provided by different methods, to incorporate the characteristics of a complex system such as the agroecosystem, which allows reducing the limitations in the processes of valuation of ES.

Keywords: ecological economics, agroecosystems, ecosystem services, valuation of ecosystem services

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Authors: Ke Fan, Edwin H. W. Chan

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Economic incentives of green building (GB) have been implemented to promote green building and address the market barriers. However, if developers could gain from the incentives, why not all the buildings are green? This paper aims to study this problem and provide a new perspective to look at the economic incentives. The theories of Transitional Gains Trap (TGP) and Transaction Cost Economics (TCE) are employed to explain the developers’ gains and losses from the economic incentives. This paper takes the GFA (gross floor area) concession incentive in Hong Kong, which is one of the most popular incentives, as the case to conduct in-depth case study and it did interview to validate the results. The results show that after implementing the GFA concession scheme, the benefit of the GFA concession is capitalized into land value. Therefore, developers have to bear the increased land cost, which supports the theory of the TGP. Even though, some developers are still not willing to participate in the incentive scheme because of high transaction costs (TCs).

Keywords: green building, economic incentives, transitional gains trap, transaction cost

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Authors: Freyedon Ahmadi

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Corporate citizenship is considered as one of the most discussed topics in the developed countries, in which a citizen considers a Corporate just like a usual citizen with every civil right as respectful for corporate as for actual citizens, and in return citizens expect that corporate would pay a reciprocal respect to them. The current study’s purpose is to identify the impact of the current state of corporate citizenship along effective factors on its condition on industrial producing units, in order to find an accession plane for corporate citizenship development. In this study corporate citizenship is studied in four dimensions like legal corporate, economical corporate, ethical corporate and voluntary corporate. Moreover, effective factors’ impact on corporate citizenship is explored based on threefold dimensional model: behavioral, structural, and content factors, as well. In this study, 50 corporate of Food industry and of petrochemical industry, along with 200 selected individuals from directors’ board on Tehran province’s scale with stratified random sampling method, are chosen as actuarial sample. If based on functional goal and compilation methods, the present study is a description of correlation type; questionnaire is used for accumulation of initial Data. For Instrument Validity expert’s opinion is used and structural equations and its reliability is qualified by using Cronbach Alpha. The results of this study indicate that close to 70 percent of under survey corporate have not a good condition in corporate citizenship. And all of structural factors, behavioral factors, contextual factors, have a great deal of impression and impact on the advent corporate citizenship behavior in the producing Units. Among the behavioral factors, social responsibility; among structural factors, organic structure and human centered orientation, medium size, high organizational capacity; and among the contextual factors, the clientele’s positive viewpoints toward corporate had the utmost importance in impression on under survey Producing units.

Keywords: corporate citizenship, structural factors, behavioral factors, contextual factors, producing units

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Authors: Marium. K.Makhdoom, Talat Hussain, Syed H. Bukhari

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The motivation behind this paper is to focus the need of Zakat as a monetary framework with a specific end goal and as a social equity instrument and minimization of the level of poverty in society to assess the socioeconomic development. The procedure of the study includes investigating the applied system of Islamic economics to propose an option display so as to contribute fundamentally to the Ummah and serving the countries. This paper closes to be viewed Zakat as one of the best possible strategies to quantify the socioeconomic development, which implies when individuals pay Zakat the socioeconomic development level will be higher and vice versa. The duties of Muslims to pay Zakat to accomplish practical improvement as far as wealth redistribution in the middle of Muslims and in addition overcoming any and all hardships between the rich and the poor in the general public. The paper adds to consider Zakat as an index to gauge economic development, moreover, the part of Zakat as an instrument of social equity and neediness destruction in the public eye. By and large, this includes the installment every year of more than two percent of one's capital after the needs of the family have been met.

Keywords: Zakat, Waqf, economic development, Pakistan, Islamic economics, macroeconomics, microeconomics

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Authors: Bahia Braktia, Belkacem Braktia

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Collaborative writing is now an established pedagogical technique in higher education. Since most educators do not have training in the design, execution, and evaluation of writing assignments, implementing such tasks has proven difficult. This paper firstly proposes a framework for a collaborative writing assignment based on a literature study and adopting a writing-to-learn concept. It then describes the research undertaken and shows how this framework is implemented in an economics course, at an Algerian university, with undergraduate students. Finally, using a mixed methods design, it examines the students’ perceptions of what they have learned about collaborative writing. Preliminary results show that group assignments will always be a challenge, but with careful planning and structure, a collaborative writing assignment can be used effectively to help students improve their analytical and critical thinking abilities, research and group work skills, as well as writing proficiency. Students have a positive experience of working in a team and identified a wide variety of different team skills that they have learned through the process.

Keywords: collaborative writing, research assignment, students’ perception, survey

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Authors: Fahad Qureshi

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This paper provides detailed study on the diagnosis of intermittent high vibration spikes at exhaust bearing (Non-Drive End) of Mitsubishi H-25 gas turbine installed in a petrochemical plant in Pakistan. The diagnosis is followed by successful root cause analysis of the issue and recommendations for improving the reliability of machine. Engro Polymer and Chemicals (EPCL), a Chlor Vinyl complex, has a captive power plant consisting of one combined cycle power plant (CCPP), having two gas turbines each having 25 MW capacity (make: Hitachi) and one extraction condensing steam turbine having 15 MW capacity (make: HTC). Besides, one 6.75 MW SGT-200 1S gas turbine (make: Alstom) is also available. In 2018, the organization faced an issue of intermittent high vibration at exhaust bearing of one of H-25 units having tag GT-2101 A, which eventually led to tripping of machine at configured securities. Since the machine had surpassed 64,000 running hours and major inspection was also due, so bearings inspection was performed. Inspection revealed excessive coke deposition at labyrinth where evidence of rotor rub was also present. Bearing clearance was also at upper limit, and slight babbitt (soft metal) chip off was observed at one of its pads so it was preventively replaced. The unit was restated successfully and exhibited no abnormality until October 2020, when these spikes reoccurred, leading to machine trip. Recurrence of the issue within two years indicated that root cause was not properly addressed, so this paper furthers the discussion on in-depth analysis of findings and establishes successful root cause analysis, which captured significant learnings both in terms of machine design deficiencies and gaps in operation & maintenance (O & M) regime. Lastly, revised O& M regime along with set of recommendations are proposed to avoid recurrence.

Keywords: exhaust side bearing, Gas turbine, rubbing, vibration

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Authors: Aneeq Sarwar

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This study assesses the interaction between environmental and intellectual property policy on the rate of invention of environmental inventions and specifically tests for whether there is a synergy between stricter IP regimes and stronger environmental policies. The empirical analysis uses firm and industry-level data from seven OECD countries from 2009 to 2015. We also introduce a new measure of environmental inventions using a Natural Language Processing Topic Modelling technique. We find that intellectual property policy strictness demonstrates greater effectiveness in encouraging inventiveness in environmental inventions when used in combination with stronger environmental policies. This study contributes to existing literature in two ways. First, it devises a method for better identification of environmental technologies, we demonstrate how our method is more comprehensive than existing methods as we are better able to identify not only environmental inventions, but also major components of said inventions. Second, we test how various policy regimes affect the development of environmental technologies, we are the first study to examine the interaction of the environmental and intellectual property policy on firm level innovation.

Keywords: environmental economics, economics of innovation, environmental policy, firm level

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Authors: Judit Nagy

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Many scientific studies claim that financial education should start as early as possible. Children are much more capable of and willing to absorb new concepts than adults. If we introduce children to financial knowledge early, their behaviour and attitudes to this subject will change, increasing later success in this area of life. However, poor financial decisions may entail severe consequences, not only to individuals but even to the wider society. Good financial decisions and economic attitudes may contribute to economic growth and well-being. Whilst in several countries, education about financial awareness and fundamentals is available, the understanding and acquisition of complex economic knowledge and the development of children’s independent problem-solving skills are still lacking. The results suggest that teaching economic and financial knowledge through accounting and making lectures interactive by using special tools of positive education is critical to stimulating children’s interest. Eighty percent of the students in the study liked the combined and interactive lecture. Introducing this kind of knowledge to individuals is a relevant objective, even at the societal level.

Keywords: positive psychology, education innovation, primary school, gender, economics, accounting, finance, personal finance, mathematics, economic growth, well-being, sustainability

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Authors: Xitong Liu, Yutong Huang, Shu-Ching Yang

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The phenomena of hypergamous and hypogamous marriages have become popular due to the imbalanced sex ratio caused by Chinese social preference for sons. Our research explores the spillover effect of husbands' lifestyles on their wives' marital satisfaction in China. Both personal and spouse lifestyle elements are utilized to develop regression models to study husbands' spillover effects on women's marital satisfaction. With data from China Family Panel Study and Stata for analysis, we tested our hypothesis that both smoking and substance use by a spouse will negatively impact women's marital satisfaction. Our empirical findings suggest that substance use has negative implications on marriage satisfaction. In particular, husbands' substance use is more critical to wives' marriage satisfaction than wives' behaviours. Conversely, another behavior indicating bad habits, the number of times the spouse drank alcohol, had no significant effect on the wife's marital satisfaction. We concluded our investigation and provided future implications for scholars in the family economics field.

Keywords: Asian/Pacific Islander families, family economics, housework/division of labor, spillover

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Authors: Enas R. Shouman

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Economic development with population growth is leading to a continuous increase in energy demand. At the same time, growing global concern for the environment is driving to decrease the use of conventional energy sources and to increase the use of renewable energy sources. The objective of this study is to present the market trends of solar energy photovoltaic technology over the world and to represent economics methods for PV financial analyzes on the basis of expectations for the expansion of PV in many applications. In the course of this study, detailed information about the current PV market was gathered and analyzed to find factors influencing the penetration of PV energy. The paper methodology depended on five relevant economic financial analysis methods that are often used for investment decisions maker. These methods are payback analysis, net benefit analysis, saving-to-investment ratio, adjusted internal rate of return, and life-cycle cost. The results of this study may be considered as a marketing guide that helps diffusion of using PV Energy. The study showed that PV cost is economically reliable. The consumers will pay higher purchase prices for PV system installation but will get lower electricity bill.

Keywords: photovoltaic, financial methods, solar energy, economics, PV panel

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Authors: R. S. Komartin, B. Balanuca, R. Stan

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the last decades, studies about the use of polymeric materials of plant origin, considering environmental concerns, have captured the interest of researchers because these represent an alternative to petroleum-derived materials. Vegetable oils are one of the preferred alternatives for petroleum-based raw materials having long aliphatic chains similar to hydrocarbons which means that can be processed using conventional chemistry. Epoxidized vegetable oils (EVO) are among the most interesting products derived from oil both for their high reactivity (epoxy group) and for the potential to react with compounds from various classes. As in the case of epoxy resins starting from petrochemical raw materials, those obtained from EVO can be crosslinked with different agents to build polymeric networks and can also be reinforced with various additives to improve their thermal and mechanical performances. Among the multitude of known EVO, the most common in industrial practice are epoxidized linseed oils (ELO) and epoxidized soybean oils (ESO), the first with an iodine index over 180, the second having a lower iodine index but being cheaper. On the other hand, lignin (Ln) is the second natural organic material as a spread, whose use has long been hampered because of the high costs associated with its isolation and purification. In this context, our goal was to obtain new composite materials with satisfactory intermediate properties in terms of stiffness and elasticity using the characteristics of ELO and Ln and choosing the proper curing procedure. In the present study linseed oil (LO) epoxidation was performed using peracetic acid generated in situ. The obtained bio-based epoxy resin derived from linseed oil was used further to produce the new composites byloading Ln in various mass ratios. The resulted ELO-Ln blends were subjected to a dual-curing protocol, namely photochemical and thermal. The new ELO-Ln composites were investigated by FTIR spectrometry, thermal stability, water affinity, and morphology. The positive effect of lignin regarding the thermal stability of the composites could be proved. The results highlight again the still largely unexplored potential of lignin in industrial applications.

Keywords: composite materials, dual curing, epoxidized linseed oil, lignin

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Authors: Ahmed Stifi, Sascha Gentes

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The German nuclear industry, while implementing the German policy, believes that the journey towards the green-field, namely phasing out of nuclear energy, should be achieved through green techniques. The most important techniques required for the wide range of decommissioning activities are decontamination techniques, cutting techniques, radioactivity measuring techniques, remote control techniques, techniques for worker and environmental protection and techniques for treating, preconditioning and conditioning nuclear waste. Many decontamination techniques are used for removing contamination from metal, concrete or other surfaces like the scales inside pipes. As the pipeline system is one of the important components of nuclear power plants, the process of decontamination in tubing is of more significance. The development of energy sectors like oil sector, gas sector and nuclear sector, since the middle of 20th century, increased the pipeline industry and the research in the decontamination of tubing in each sector is found to serve each other. The extraction of natural products and material through the pipeline can result in scale formation. These scales can be radioactively contaminated through an accumulation process especially in the petrochemical industry when oil and gas are extracted from the underground reservoir. The radioactivity measured in these scales can be significantly high and pose a great threat to people and the environment. At present, the decontamination process involves using high pressure water jets with or without abrasive material and this technology produces a high amount of secondary waste. In order to overcome it, the research team within Karlsruhe Institute of Technology developed a new sustainable method to carry out the decontamination of tubing without producing any secondary waste. This method is based on vibration technique which removes scales and also does not require any auxiliary materials. The outcome of the research project proves that the vibration technique used for decontamination of tubing is environmental friendly in other words a sustainable technique.

Keywords: sustainable technologies, decontamination, pipeline, nuclear industry

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Authors: Ehsan Samimi, Mohammaa Ali Shahosseeni, Ali Abasltian, Shahriar Shafaghi

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Background/Objectives: Voluntary turnover and early retirement request by specialists and experienced people in project-based organizations (PBO) has caused many problems in finding suitable experts to execute the projects. Methods/Statistical analysis: The present study is a descriptive and applied research. Research population consists of KWs in oil and gas PBO. The engineers in these organizations were considered as research sample. Interviews and questionnaire were used to gather information. Interviews with experts were used to identify factors and questionnaires were utilized to identify the importance and prioritization. 72 factors were identified and categorized into 9 groups within organizational and HR initiative levels. Results: Results of the research indicate the priority of each group of factors according to the proposed model in the view of KWs in oil, gas and petrochemical industries. On this basis, the following factors have the highest effect ratio based on the respondents’ point of view: 1. knowledge management 2. Performance appraisal system 3. Communication 4.Training and development 5.Job design and analysis 6. Employment policies 7. Career planning 8. Project/organizational factors 9. Salary and rewards. Additionally, in each group the priority of effective sub-factors has been identified as the result of the research .The results support the definitions of KWs and influence of factors examined and specified by similar studies in retention and development of KWs. The high importance of knowledge management and low rank for salary and rewards can be mentioned as example in this regard. Despite the priority of each group of factors the uniqueness of the result is due to identification of effective factors in the specific industry (oil and gas) and type of organization (PBO). Conclusion/Application: The findings of present study can be used to devise plans for retaining and developing KWs in PBO especially in oil and gas industry.

Keywords: project–based organizations, knowledge workers, HR management, turnover, retaining and developing employees

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Authors: Mabel Usunobun Olanipekun, Henry Ogbemudia Omoregbee

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Anomalies such as water pipeline and hydraulic or petrochemical pipeline network leakages and bursts have significant implications for economic conditions and the environment. In order to ensure pipeline systems are reliable, they must be efficiently controlled. Wireless Sensor Networks (WSNs) have become a powerful network with critical infrastructure monitoring systems for water, oil and gas pipelines. The loss of water, oil and gas is inevitable and is strongly linked to financial costs and environmental problems, and its avoidance often leads to saving of economic resources. Substantial repair costs and the loss of precious natural resources are part of the financial impact of leaking pipes. Pipeline systems experts have implemented various methodologies in recent decades to identify and locate leakages in water, oil and gas supply networks. These methodologies include, among others, the use of acoustic sensors, measurements, abrupt statistical analysis etc. The issue of leak quantification is to estimate, given some observations about that network, the size and location of one or more leaks in a water pipeline network. In detecting background leakage, however, there is a greater uncertainty in using these methodologies since their output is not so reliable. In this work, we are presenting a scalable concept and simulation where a pressure-driven model (PDM) was used to determine water pipeline leakage in a system network. These pressure data were collected with the use of acoustic sensors located at various node points after a predetermined distance apart. We were able to determine with the use of correlation difference to determine the leakage point locally introduced at a predetermined point between two consecutive nodes, causing a substantial pressure difference between in a pipeline network. After de-noising the signal from the sensors at the nodes, we successfully obtained the exact point where we introduced the local leakage using the correlation difference model we developed.

Keywords: leakage detection, acoustic signals, pipeline network, correlation, wireless sensor networks (WSNs)

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Authors: Muhammad Saqib Manzoor, Camille Dickson-Deane, Prashan Karunaratne

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Cobb-Douglas production (utility) function is a fundamental function widely used in economics teaching and research. The key reason is the function's characteristics to describe the actual production using inputs like labour and capital. The characteristics of the function like returns to scale, marginal, and diminishing marginal productivities are covered in the introductory units in both microeconomics and macroeconomics with a 2-dimensional static visualisation of the function. However, less insight is provided regarding three-dimensional surface, changes in the curvature properties due to returns to scale, the linkage of the short-run production function with its long-run counterpart and marginal productivities, the level curves, and the constraint optimisation. Since (freshman) learners have diverse prior knowledge and cognitive skills, the existing “one size fits all” approach is not very helpful. The aim of this study is to bridge this gap by introducing technological intervention with interactive animations of the three-dimensional surface and sequential unveiling of the characteristics mentioned above using Python software. A small classroom intervention has helped students enhance their analytical and visualisation skills towards active and authentic learning of this topic. However, to authenticate the strength of our approach, a quasi-Delphi study will be conducted to ask domain-specific experts, “What value to the learning process in economics is there using a 2-dimensional static visualisation compared to using a 3-dimensional dynamic visualisation?’ Here three perspectives of the intervention were reviewed by a panel comprising of novice students, experienced students, novice instructors, and experienced instructors in an effort to determine the learnings from each type of visualisations within a specific domain of knowledge. The value of this approach is key to suggesting different pedagogical methods which can enhance learning outcomes.

Keywords: cobb-douglas production function, quasi-Delphi method, effective teaching and learning, 3D-visualisations

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Authors: Srinaath Anbu Durai, Wang Zhaoxia

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Twitter sentiment has been used as a predictor to predict price values or trends in both the stock market and housing market. The pioneering works in this stream of research drew upon works in behavioural economics to show that sentiment or emotions impact economic decisions. Latest works in this stream focus on the algorithm used as opposed to the data used. A literature review of works in this stream through the lens of data used shows that there is a paucity of work that considers the impact of sentiments caused due to an external factor on either the stock or the housing market. This is despite an abundance of works in behavioural economics that show that sentiment or emotions caused due to an external factor impact economic decisions. To address this gap, this research studies the impact of Twitter sentiment pertaining to the Covid-19 pandemic on resale Housing Development Board (HDB) apartment prices in Singapore. It leverages SNSCRAPE to collect tweets pertaining to Covid-19 for sentiment analysis, lexicon based tools VADER and TextBlob are used for sentiment analysis, Granger Causality is used to examine the relationship between Covid-19 cases and the sentiment score, and neural networks are leveraged as prediction models. Twitter sentiment pertaining to Covid-19 as a predictor of HDB price in Singapore is studied in comparison with the traditional predictors of housing prices i.e., the structural and neighbourhood characteristics. The results indicate that using Twitter sentiment pertaining to Covid19 leads to better prediction than using only the traditional predictors and performs better as a predictor compared to two of the traditional predictors. Hence, Twitter sentiment pertaining to an external factor should be considered as important as traditional predictors. This paper demonstrates the real world economic applications of sentiment analysis of Twitter data.

Keywords: sentiment analysis, Covid-19, housing price prediction, tweets, social media, Singapore HDB, behavioral economics, neural networks

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Authors: Salima Agoun-Bahar, Ouzna Abrous-Belbachir, Souad Amelal

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Industrial areas generally contain heavy metals; thus, negative consequences can appear in the medium and long term on the fauna and flora, but also on the food chain, which man constitutes the final link. The SONATRACH Company has become aware of the importance of environmental protection by setting up a rehabilitation program for polluted sites in order to avoid major ecological disasters and find both curative and preventive solutions. The aim of this work consists to study industrial pollution located around a crude oil storage tank in the Algiers refinery of Sidi R'cine and to select the plants which accumulate the most heavy metals for possible use in phytotechnology. Sampling of whole plants with their soil clod was realized around the pollution source at a depth of twenty centimeters, then transported to the laboratory to identify them. The quantification of heavy metals, lead, zinc, copper, and nickel was carried out by atomic absorption spectrophotometry with flame in the soil and at the level of the aerial and underground parts of the plants. Ten plant species were recorded in the polluted site, three of them belonging to the grass family with a dominance percentage higher than 50%, followed by three other species belonging to the Composite family represented by 12% and one species for each of the families Linaceae, Plantaginaceae, Papilionaceae, and Boraginaceae. Koeleria phleoïdes L. and Avena sterilis L. of the grass family seem to be the dominant plants, although they are quite far from the pollution source. Lead pollution of soils is the most pronounced for all stations, with values varying from 237.5 to 2682.5 µg.g⁻¹. Other peaks are observed for zinc (1177 µg.g⁻¹) and copper (635 µg.g⁻¹) at station 8 and nickel (1800 µg.g⁻¹) at station 10. Among the inventoried plants, some species accumulate a significant amount of metals: Trifolium sp and K.phleoides for lead and zinc, P.lanceolata and G.tomentosa for nickel, and A.clavatus for zinc. K.phloides is a very interesting species because it accumulates an important quantity of heavy metals, especially in its aerial part. This can be explained by its use of the phytoextraction technique, which will facilitate the recovery of the pollutants by the simple removal of shoots.

Keywords: heavy metals, industrial pollution, phytotechnology, rehabilitation

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Authors: Noemia Bessa Vilela, Jose Caramelo Gomes

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All law student are familiarized, in the first years of their bachelor of laws with the concepts of “public goods” and “ private goods”; often, such legal concept does not exactly match such economic concept, and there are consequences are some sort of confusion being created. The list of goods that follow under each category is not exhaustive, nor are students given proper mechanisms to acknowledge that some legal fields can, on its own, be considered as a “public good”; this is the case of Competition. Legal authors consider that “competition law is used to promote public interest” and, as such, it is a “public good”; in economics theory, Competition is the first public good in a market economy, as the enabler of allocation efficiency. Competition law is the legal tool to support the proper functioning of the market economy and democracy itself. It is fact that Competition Law only applies to economic activities, still, competition is object of private litigation as an integral part of Public Law. Still, regardless of the importance of Competition Law in the economic activity and market regulation, most student complete their studies in law, join the Bar Associations and engage in their professional activities never having been given sufficient tools to deal with the increasing demands of a globalized world. The lack of knowledge of economics, market functioning and the mechanisms at their reach in order to ensure proper realization of their duties as lawyers/ attorneys-at-law would be tackled if Competition Law would be included as part of the curricula of Law Schools. Proper teaching of Competition Law would combine the foundations of Competition Law, doctrine, case solving and Case Law study. Students should to understand and apply the analytical model. Special emphasis should be given to EU Competition Law, namely the TFEU Articles 101 to 106. Damages Directive should also be part of the curriculum. Students must in the first place acquire and master the economic rationale as competition and the world of competition law are the cornerstone of sound and efficient market. The teaching of Competition Law in undergraduate programs in Law would contribute to fulfill the potential of the students who will deal with matters related to consumer protection, economic and commercial law issues both in private practice and as in-house lawyers for companies.

Keywords: higher education, competition law, legal education, law, market economy, industrial economics

Procedia PDF Downloads 122