However, YJ has licence applications pending for four new oil and gas fields and is currently surveying eight further potential oil and gas fields. Are you ready to float? Natural gas reserves are estimated to last for over 60 years at the current global rate of consumption. YJ outsources all of its drilling work to specialised companies. They utilise long and short term funds from a variety of sources at a variety of costs.
This is natural gas volumes expressed in the equivalent volume of a barrel of oil. This Standard More information. Income Taxes A seller’s income More information. YJ is generally responsible for the transportation of the oil and gas from the oil or gas fields to the entry port in the agreed country. A fixed assets register.
CIMA Global Business Challenge. Case Study. YJ – Oil and gas industry – PDF
Natural gas is used in a wide variety of industrial processes, for electricity generation, as well as for domestic casee. The oil and gas industry comprises a variety of company types including the glbal Therefore, the length of time that oil reserves will last is expected to exceed 40 years. He has clearly stated that this is not how YJ conducts business and took gglobal clear ethical stance with the support of Oliver Penn.
The world s leading sustainability consultancy. DuringAwilco Offshore increased. All revenues from the sale of oil and gas are priced in US Dollars. In order to satisfy all of its shareholders and other stakeholders, YJ always considers the implications of its actions and CSR is incorporated into its management systems and procedures. Overdrafts, being unsecured, are traditionally viewed as risky but here the loans were also viewed as carrying higher levels of risk.
Additionally, most governments also impose a royalty tax, based on ci,a percentage of the market value of the oil and gas production. During 2Q the full scale onshore More information. The Directors of Global Brands are pleased to announce the preliminary unaudited results of the Company for the year ended 31 December All three oil and gas fields are located off-shore with shallow-water drilling wells. Product Disclosure Statement 16 June The world has abd living in fear that oil will ran out.
A fixed assets register.
To conduct all business dealings with integrity and to the highest standards. These are drilled after the oil or gas reserve has been assessed, the size of the oil or gas reserve has been proved, and the safest and most effective method for getting the oil or gas to the surface has been determined. Most large international oil and gas companies are known as being “integrated” because they combine upstream activities oil and gas exploration and extractionmidstream transportation and g,obal refining process and downstream operations distribution and retailing of oil and gas products.
It is clear from the interest rates above that the lender of the loan funds and the bank providing the overdraft saw similar levels of risk as the interest rates charged on the loans were similar. YJ s customers are then responsible for the onward transportation, or storage of the gas or oil, from the agreed port. It is often difficult to determine whether a particular oil and ool company has been selected due to its competitive bid, its competence, or whether it was due to the relationship with a government official.
A field if large enough could warrant many individual wells. Milo Purdeen Director of Exploration and Jason Oldman Director of Legal Affairs have worked closely to meet all of the requirements of the licence applications for the four identified potential oil and gas fields. Farm-out To assign or sell an interest in a licence to another oil and gas production company.
This is a commonly used form of licensing where the government will take an agreed negotiated percentage share in the profits generated from the production of oil and gas. Operating companies – these hold the exploration and production licences and operate production facilities.
However, with improved technology, there is expected to be the ability to extract more oil from known reserves.
CIMA Global Business Challenge. Case Study. YJ – Oil and gas industry
He became frustrated by these companies lack of commitment to environmental and safety aspects of drilling operations. The split of ym usually allows the oil and gas company to have the largest share, but this will vary from government to government and on negotiation skills.
He has worked in the oil and gas industry for over 30 years.
These policies have been consistently applied. Cutting oil consumption further will prolong the life of global oil reserves.
He joined YJ in and has been instrumental in the location of oil and gas fields, and the successful bidding and licensing of YJ s three current oil and gas fields. Profit before taxation after Finance costs net Adjustments: