OIL AND GAS ACCOUNTING Research Papers (original) (raw)

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- Geology, Development Economics, Energy Economics, Value chain analysis

This Simplified Guide provides comprehensive and comprehensible information and infographics about the law (as amended) to equip citizens with knowledge of the PRMA. With enhanced knowledge of the governing framework for the management of petroleum revenues, it is our hope that the public will be in a position to better understand the PRMA and thus demand transparency and accountability from the Government on the judicious use of petroleum revenues. This will advance the development of Ghana’s oil and gas sector in an effective and efficient manner for the benefit of all citizens. It is our hope that this document together with other public campaigns and efforts, will contribute to the development of an oil and gas sector that reflects the desires and aspirations of all Ghanaians.

- by Theophilus Acheampong
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- Development Economics, Development Studies, Ghana, OIL AND GAS ACCOUNTING

Harmonization of the accounting practice has long been on the front burner as an agenda for improving the quality of financial reporting the world over. This study is a qualitative review of the Full cost (FC) and Successful efforts (SE) methods of accounting in the oil and gas sector, given the ongoing controversy over which method should take precedence. A unique analysis was adopted by assessing the merits and demerits of the FC and SE methods based on selected qualitative criteria (conceptual, IASB framework and industry-specific). The study found significant differences between the two methods and argues that the SE method produces better qualitative financial information than the FC method based on the IASB framework criteria. The study also found low-risk exposure in Nigeria for investors in the oil and gas industry as a majority of the oil and gas firms operate within the downstream sector. Further research is required to determine the long-run impact of the choice between FC and SE on the performance of oil and gas firms.

- by osareme erhomosele
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- Financial Reporting, OIL AND GAS ACCOUNTING, Accounting choice

This study examined the empirical evaluation of oil and gas accounting on Nigeria economic development. The study made used of the ex-post facto research design and the time series data collected were analysed using the ordinary least square technique. The results revealed that there is a significant influence of oil and gas accounting on employment generation. The study also revealed that there is a significant influence of oil and gas sector on infrastructural development. The study further reveled that there is a significant influence of oil and gas accounting on foreign direct investment. The study concludes that oil and gas is therefore a real source of capital formation for the economic take off of a country that puts its oil resources to a good use. Gas development in Nigeria should address itself to the large scale commercialization of that resource even if that would mean massive intervention on the part of the government, to the extent it can afford, wholly or jointly with the private sector.

- by ARZIZEH T I E S I E H TAPANG
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- OIL AND GAS ACCOUNTING

The purpose of this research has been to examine the nature and trends associated with a wide range of industries and activities that support offshore oil and gas exploration, development, and production. The sectors and activities examined include: drilling contractors; underwater contractors (diving); mud, drilling, and lubricants; air transport; water transport; geophysical services; dredging; catering; workover services and environmental consulting and mitigation.
A number of issues and aspects were examined for each of these sectors that includes a basic description of the industry and the types of services provided, typical industry characteristics that includes an examination of typical facilities, the geographical distribution of the firms and their location along the Gulf of Mexico, a description of each sectors’ labor force, and identification of typical or leading firms in those particular sectors.
Each chapter includes an examination of the industry trends and outlook for that respective support sector/activity including a discussion of the impacts that hurricane activity of 2005 had on each of the various support sectors and activities.

Article Type: Full LengthResearch Article This study explored the effect of insurance industry performance on economic growth in Nigeria. Insurance is a cover from financial loss. The study sought out to examine the impact of non-life insurance penetration on the economic growth of Nigeria. The ex-post facto study design was adopted for this study. Time series data for the period 1988-2014 were collated from the Central Bank of Nigeria (CBN) Statistical bulletin. Data were analysed using regression. The ARDL bound test was adopted in the testing of hypotheses formulated for the study. The findings of the study revealed that non-life insurance penetration had a positive and substantial effect on the economic growth in Nigeria during the period. The study recommends among others that life insurance companies come up with life products mainly designed for the low-paid earners as the target which will enhance penetration and deepen the market, more awareness is created to improve the pa...

- by sunday eneojo samuel
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- Research Methodology, Taxation, Corporate Finance, OIL AND GAS ACCOUNTING

The octane enhancement of light straight run naphtha is one of the significant solid acid catalyzed processes in the modern oil refineries due to limitations of benzene, aromatics, and olefin content in gasoline. This paper aims to examine the role of various catalysts that are being utilized for the isomerization of light naphtha with an ambition to give an insight into the reaction mechanism at the active catalyst sites, and the effect of various contaminants on catalyst activity. In addition, different technologies used for isomerization process are evaluated and compared by different process parameters.

- by Dr. Abdul-Sattar Nizami and +1
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- Environmental Engineering, Materials Engineering, Chemical Engineering, Environmental Science

This study analysed the relationship between public spending and economic growth in Nigeria. The study used the secondary data from CBN Statistical Bulletin from 2004 – 2018. The Real Gross Domestic Product formed the dependent variable and the independent variable of interest were the Capital Expenditure on Economic Services, and Expenditure of Transfers. The variables were validated by conducting the unit root test using the Augmented Dickey Fuller (ADF) and Phillips Perron Test (PP), and the correlation coefficient were determined using STATA and the Pearson Product Moment Correlation. A multiple regression model was employed for the study and was analysed using the Generalized Least Squares (GLSs) with the aid of Eviews 11 statistical program. The results of the study indicated that Capital Expenditure on Economic Services has a positive and significant impact on Economic Growth while Expenditure on Transfer has a negative and insignificant impact on Economic Growth. The study r...

- by Sani Gurowa
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- Accounting, Financial Accounting, Economic Growth, Corporate Finance

Employees today are different. They are not the ones who do not have good opportunities, especially, experienced and talented ones. As soon as they feel dissatisfied with the current employer or the job due to lack of advancement opportunities, salary and remuneration and others, they switch over to the next. The result is that employers lose their invested resources to their competitors, corporate memory is lost, employee-customer relationships are strained and more over the moral of existing staff goes down. It is therefore very important that employers retain their employees, especially the good and experienced ones. Employee retention is a process in which employees are encouraged to remain with the organization for the maximum period of time or until the completion of a particular project. This study looks at the retention practices in Oil & Gas Sector, from the point of view of its employees and what role retention plays in their job performance. The study confirms that lack of advancement opportunities, work-life balance, lack of reward and recognition and salary and remuneration were more common reasons for departure among all employees. Retaining top talent is a primary concern for many organizations today and this study recommends that retention strategies should be aimed at retaining highly skilled personnel and at the same time building up under-performers. Feedback on employee performance is vital to building confidence in the retention practices of the Oil & Gas Sectors. In addition, employee value proposition as enshrined in the vision statement of the Oil & Gas Sectors must be upheld while management should be flexible in terms of work-life balance. This motivation of employees produces a culture of commitment to the objectives of the organization.

In the exploration and production oil and gas companies, there are fundamentally two historical accounting methods used in preparation of the financial statements for financial reporting purposes namely full cost and successful effort.... more

- by Atta Acheampong
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- OIL AND GAS ACCOUNTING, Petroleum Economics
- by Rob Kevlihan
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- Oil and gas, OIL AND GAS ACCOUNTING, Petroleum, Geology, Oil and Gas

Los lentos avances rusos en una nueva modalidad de guerra en una segunda fase, despues de un fracaso inicial en Kiev, con algunos exitos por parte de Ucrania, y sospechosos movimientos desde Transnistria, con la poca prometedora guerra economica desarrollada por occidente, asi como el permanente asedio asimetrico de la izquierda en contra de las instituciones colombianas forjan todo un escenario politico muy complejo que tiende a agudizarse dependiendo de las decisiones en las urnas por parte de los colombianos.

- by John F Valderrama
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- Economics, Globalization, Colombia, Latin American politics

boleh la isi form ni kalau bminat . saya bminat tapi nmpak pluang xda . bukan rezeki . korang try la .

Actualmente, el tema sobre la utilización o no de la técnica para la extracción de gas o petróleo
mediante fractura hidráulica (fracking) en la exploración y explotación de los hidrocarburos no
convencionales ha generado un debate entre los técnicos y los ambientalistas, en torno a los pros
y contras de una tecnología que ya ha sido implementada por los Estados Unidos, y que se ha
autorizado en algunos países de América Latina y el Caribe.
Por lo anterior, el objetivo de este artículo es realizar una descripción técnica de la extracción de
los hidrocarburos No Convencionales y los riesgos que trae en cada una de las etapas para su
exploración y explotación, así como el tratamiento que se le ha dado a través de legislaciones
expedidas por algunos países que han decidido apostar por su desarrollo.
El documento se divide en cuatro capítulos. El primer capítulo hace referencia a una breve
descripción de la matriz energética de los países de América Latina y el Caribe. El segundo capítulo
􀁇􀁈􀂿􀁑􀁈􀀃􀁔􀁘􀁈􀀃􀁖􀁒􀁑􀀃􀁏􀁒􀁖􀀃􀁋􀁌􀁇􀁕􀁒􀁆􀁄􀁕􀁅􀁘􀁕􀁒􀁖􀀃􀁑􀁒􀀃􀁆􀁒􀁑􀁙􀁈􀁑􀁆􀁌􀁒􀁑􀁄􀁏􀁈􀁖􀀏􀀃􀁏􀁄􀁖􀀃􀁇􀁌􀁉􀁈􀁕􀁈􀁑􀁗􀁈􀁖􀀃􀁆􀁏􀁄􀁖􀁈􀁖􀀃􀁇􀁈􀀃􀀃􀁈􀁖􀁗􀁒􀁖􀀃􀁕􀁈􀁆􀁘􀁕􀁖􀁒􀁖􀀃􀁜􀀃􀁏􀁄􀀃
localización de los mismos. El tercero describe como se realiza la exploración de los hidrocarburos
no convencionales y los riesgos que se presentan en cada una de las etapas. El cuarto capítulo
hace un análisis de como la regulación puede mitigar los riesgos técnicos que se presentan y por
último, las conclusiones.

- by Ana Correa and +1
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- Oil and gas, Enhanced Oil Recovery, OIL AND GAS ACCOUNTING, International political economy of oil and gas

This study is aimed at assisting accounting practices operated in the oil and gas industry in Nigeria particularly to examine the major problems of accounting in the Nigerian oil industry. Also, attempt was made, to assess the role of Nigerian Accounting Standard Board (NASB), the Institute of Chartered Accountants of Nigeria (ICAN) and the Association of National Accountants of Nigeria (ANAN) in developing relevant accounting standards for the industry. Data was collected using both primary and secondary sources with the aid of structured questionnaire. Simple percentages and Chi-square Statistical models were used to analyse the data. It was found that accounting standards for oil and gas industry in Nigeria owe its origin to the methods initially formulated in America and Britain with slight modifications. It was also observed that NASB, ICAN and ANAN play significant role in formulating standards for the oil and gas accounting sector in Nigeria to suit the realities of the time. It was recommended that oil and gas companies in Nigeria irrespective of their origin should show unequivocal commitment in adopting and upholding ethical standards that would lead to improvement in accounting information. The Nigeria National Petroleum Corporation (NNPC) and oil companies should relate functionally with statutory institutions like ICAN, NASB and ANAN with a view to fostering a stronger working relationship.

- by Thankgod Agwor
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- Business, Management, Accounting, Oil and gas

This study explored the effect of insurance industry performance on economic
growth in Nigeria. Insurance is a cover from financial loss. The study sought out
to examine the impact of non-life insurance penetration on the economic growth
of Nigeria. The ex-post facto study design was adopted for this study. Time series data for the period 1988-2014 were collated from the Central Bank of Nigeria (CBN) Statistical bulletin. Data were analysed using regression. The ARDL bound test was adopted in the testing of hypotheses formulated for the study. The findings of the study revealed that non-life insurance penetration had a positive and substantial effect on the economic growth in Nigeria during the period.The study recommends among others that life insurance companies come up with life products mainly designed for the low-paid earners as the target which will enhance penetration and deepen the market, more awareness is created to improve the participation of product industry and firms as this will intensify the activities of the insurance industry in Nigeria. Furthermore, it is
recommended that an increased diversification of insurance products mostly in non-life businesses be embanked upon. For insurance industry in Nigeria to exert a significant and positive influence on the Nigeria economy, government
insurance policies covering compulsory insurance for all Nigerian, mainly non-life and, health insurance cover should be strictly enforced and implemented.

Oil and gas reserves are the most important assets of oil and gas companies. A source of confusion for investors in oil companies, is that reserves quantities and values are uncertain estimates. Reserves are typically classified according to probabilities of recovery from underground reservoirs. All US-listed companies are required to disclose proved reserves but not probable reserves, thus leaving out potentially important information for investors and financial analysts. This study addresses the impact on market valuation of various classifications of reserves amounts. Using a data sample of 94 companies that do disclose information on probable reserves, we compare the relation between three classifications of reserves and oil company returns. While we find that information on probable reserves do not have an impact on stock returns measured over the entire time period, this is not the case since 2009, coinciding with the onset of the shale gas revolution.

- by Bard Misund
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- Finance, Financial Economics, Energy Economics, Financial Accounting

Every year thousands of students choose to study accounting after graduating from high school. Many of them choose to study in private universities in Bahrain. Others choose government institutions and many travel abroad searching for knowledge. Usually students have one or two favorite subjects. This study aims to measure students’ experience of the accounting subjects. Students were asked to rate accounting subjects on Likert scale in an attempt to discover the most favorite accounting subjects at the university. The results of the study show that students like studying accounting 101, accounting 201 and managerial account 301 the most. The correlation of the students’ ratings and the rating of students’ opinion on how much do they like studying accounting was used to reach these results. The correlations of the three most liked subjects mentioned earlier with the variable (how much do you like studying accounting) are as follows r=0.509, r= 0.659 and r= 0.287, respectively. This was referred to the fact that those two subjects are the first accounting subjects they experience which might have led to this fact. Also, it may be because they are introductory subjects that were perceived as easy to the students. On the other hand students reported intermediate cost account 320 as the least favorite subject r= -0.301. The department of accounting and finance is recommended to pay attention to the cost account. They were advised to prepare seminars and invite guest speakers to all four subjects. Also, it is important to identity new methods that make the student realize the importance and like the subject of cost accounting. This study also recommends introducing the subject of oil and gas in the accounting and financing program. Also, it might be a good idea to introduce quickbooks software in the course syllabus of the accounting system. It is believed that the student deserve to experience practical use of available accounting software available in the market.

- by Sayed hassan AL-hulaibi
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- Accounting, Accountability, Financial management, Accounting Education
- by Aminu Hassan
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- Accounting, Energy and Environment, Vulnerability, Environmental Sustainability

- by ARZIZEH T I E S I E H TAPANG
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- OIL AND GAS ACCOUNTING

In order to demonstrate the efficacy of Remediation by Enhanced Natural Attenuation (RENA), this work utilized various available research data. Based on the theoretical framework associated with bioremediation, the influence of RENA on Total Hydrocarbon Utilization Bacteria (THUB), Total Petroleum Hydrocarbon (TPH), Total Nitrates and Phosphates, and the levels of heavy metals were investigated through available research results. From statistical analysis presented in these research results, there was significant indications that RENA can be employed as a positive means of cleaning-up crude oil polluted sites. As expected in bioremediation, the levels of THUB during RENA increased, indicating that biodegradation was taking place, which is in agreement with several research findings in bioremediation. The levels of TPH significantly reduced in all case studies, which is also a strong indication that RENA can adequately serve as a bioremediation technique. Reduction in TPH level is made possible by the increasing levels of hydrocarbon degrading microbes. The result for Case Study 2 equally showed a reduction in the levels of nitrates and phosphates which were added to stimulate the process. The reduction in nitrates and phosphates is a strong confirmation of microbial activities going on during RENA. Finally, the decreased levels of lead(pb), cadmium(cd) and zinc(zn) are also typical of microbial adsorptive mechanism.

This study examines auditor's independence and audit quality in Nigeria's oil and gas sector. Two research hypotheses were formulated for the study. This study made use of ex-post facto research design. The data for the study where obtained from annual reports and accounts for the period. The data were analyzed using binary logit regression with the aid of E-views, 9.0. The results showed that the proxies of auditor independence; audit fee and audit tenure were both positive; but, only audit fee was statistically significant. The study recommends among others that audit firms are selected based on the tripartite characteristic of experience, exposure and specialisation. This study has implications for shareholders in determination of audit quality thereby safeguarding shareholder wealth.

- by orajekwe jerry
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- OIL AND GAS ACCOUNTING

In modern times, the effect of oil price has not raised the global economy, the negative concept of research methodology. Impact has taken one step up, the mechanism of demand and supply kept side, up to the academic level, the objectives are different from price object at international trade policy. The advanced technology is not up to the research methodology. Benefits at investor level not at domestic side, it shows negative effect to due rise in price, the investors benefited, at a slight change in price rise. Findings are keen to observe and suggestions followed at consumer level. In conclusion, investors are not following at academic level, mechanism only at spot price. This type of object shows negative effect in oil price in global economy.

- by Abubakar Surajo Ibrahim Kirare and +1
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- Oil and Gas Law, Oil and gas, The Global Political Economy, OIL AND GAS ACCOUNTING

With decreasing demand for fossil oil globally, international oil prices have fallen continuously, reaching an all time low of below $30 lately. This has several implications on the Nigerian public finance structure at national and sub-national levels. The study investigated the impact of this plunge on the economic development of Cross River State, Nigeria and found that international oil price shocks affected the State's economy inversely, while a positive but insignificant relationship existed between the other model variables and the economic growth of the State. Consequently, the study recommends that CRS government should de-emphasize the over-reliance on crude oil revenue and seek and optimize earnings from other non-oil sectors of the economy.Further, the State's economy should be diversified to boost internally generated revenue with less dependence on Federal government revenue allocation. Finally, there should be effective machinery for checks and balances put up by the government to stem fiscal abuse and wastage of resources by the ministries, departments and agencies in the State.

- by Bassey I Ibor and +2
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- Agricultural Economics, OIL AND GAS ACCOUNTING
- by EDWARD AJAUDE
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- Economics, Agricultural Economics, OIL AND GAS ACCOUNTING, Financial
- by Aminu Hassan
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- Accounting, Energy and Environment, Vulnerability, Environmental Sustainability

This paper examines how oil and gas companies' reserves growth affects their share price returns. In particular we examine three issues affecting the relation between reserves changes and oil and gas firm returns. First, we examine if investors value reserves replacement as a result of exploration activities differently to reserves growth through acquisitions. In the second analysis, we test if reserves replacement of oil reserves impacts stock returns differently than changes in gas reserves do. Third, we examine the impact of the Shale gas revolution and the subsequent oil and gas price divergence on the association between returns and replacement of oil versus gas reserves. The results suggest that investors seem to be indifferent to reserves replacement strategy (exploration or acquisition). However, we find that changes in oil reserves impact oil and gas company returns differently than changes in gas reserves does. Moreover, we find that there has been a structural shift in the relation between returns and changes in gas reserves (but not changes in oil reserves) after 2008, coinciding with the Shale gas revolution and the break in the oil-gas price link. This latter result can be relevant for understanding the impact of the recent fall in oil prices on investor valuation of oil and gas reserves.

- by Bard Misund
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- Finance, Financial Economics, Energy Economics, Financial Accounting

Oil and gas exploration companies (E&Ps) exhibit large variations in earnings due to volatile oil and gas prices. Furthermore, their primary asset, oil and gas reserves, is accumulated through highly risky exploration activities. In contrast, integrated oil and gas companies display lower variability in their earnings due a more diversified asset base. The literature suggests that companies with higher earnings volatility and higher levels of intangibles among their assets should have lower value relevance of accounting information than companies with higher levels of tangible assets on their balance sheets. For that reason, E&P companies should have lower value relevance than integrated companies. Contrary to expectations, we do not find lower value relevance for E&Ps earnings than integrated oil and gas companies. In fact, the results suggest that the presence of supplementary estimates for oil and gas reserves values mitigate the potential problem associated with the presence of intangible assets experienced in other industries.

- by Bard Misund
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- Financial Economics, Energy Economics, Petroleum, Energy

This study analysed the relationship between public spending and economic growth in Nigeria. The study used the secondary data from CBN 2018. The Real Gross Domestic Product formed the dependent variable and the independent variable of interest were the Capital Spending on Economic Services, and Spending of Transfers. The variables were validated by conducting the unit root test using the Augmented Dickey Fuller (ADF) and Phillips Perron Test (PP), and the correlation coef icient were determined using STATA and the Pearson Product Moment Correlation. A multiple regression model was employed for the study and was analysed using the Generalized Least Squares (GLSs) with the aid of Eviews 11 statistical program. The results of the study indicated that Capital Spending on Economic Services has a positive and signi icant impact on Economic Growth while Spending on Transfer has a negative and insigni icant impact on Economic Growth. The study recommends that Capital Spending on Economic Services should be maintained and increased and Spending on Transfer should be made Zero, especially the non performing functions; also, the government should develop the refineries to start mass production in order to null off the negative effect of transfers (subsidy payment on oil import and price equalization), and the Olonite Theory of Public Finance and Economic/Development should be a point of focus for students, researchers, policy makers, academics and governments.

- by Oluyemi Ayodele OLONITE
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- Accounting, Financial Accounting, Economic Growth, Corporate Finance

Alberta’s royalty debate has focused on rates, exhibiting a myopic approach to the royalty system. Addressing this, the paper qualitatively appraises the Alberta royalty review from a sociolegal standpoint. It claims that the review reveals the context and lessons that could displace the myopia of the royalty debate: this might lead to a holistic understanding of the economic interests of the government and the private sector in the royalty system, and the moderation of claims over royalties. The context revolves around a consideration of how resource development works, the nature of royalty and the changing landscape of the resource sector, and the lessons are on the nuances that should guide the royalty system, metrics that should apply in the calculation of royalties, broader implications of the royalty system, and backing up royalties in case of the unexpected. Overall, the paper presents broader lessons useful to resource economies.

- by Temitope Onifade
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- Energy Economics, Environmental Economics, Environmental Law, Natural Resources
- by osareme erhomosele
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- Financial Reporting, OIL AND GAS ACCOUNTING, Accounting choice

After a long period of exploitation of Africa’s natural wealth and minerals resources with little beneficiation of African people, the wind of change is finally sweeping across the African continent’ extractive industries. African countries, in taking advantage of the ever increasing world demand of their natural resources, have taken radical steps that reject win-win negotiated mining contract. A mining contract between an African country and a multinational mining company must therefore produce win-win-win results in order to be valid. Africa should derive optimal benefits from its natural resources because mineral resources are Africa’s competitive advantage in international trade.

The Economic Impact of the Value Chain of a Marcellus Shale Well Site examines the direct economic impact of a Marcellus Shale well located in Southwestern Pennsylvania. This study seeks to fill a critical information gap on the impact of gas drilling and extraction from Marcellus Shale deposits deep underground: an assessment of the economic impacts – emphasizing the direct economic impact, rather than just focusing on the perceived benefits and impacts affecting the region. Our analysis is based on extensive field research, including a site visit and interviews with industry participants. It is further cross-validated by examining similar costs for development of Marcellus Wells by a vertically-integrated exploration and production firm.
Marcellus Wells by a vertically-integrated explorat ion and production firm.

- by Bill Hefley
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- Development Economics, Value chain analysis, OIL AND GAS ACCOUNTING, Marcellus Shale

- by Oluyemi Ayodele OLONITE
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- Accounting, Financial Accounting, Economic Growth, Corporate Finance

Economics of a Gas Project

- by Solomon Ebiai
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- Oil and gas, OIL AND GAS ACCOUNTING

The Windfall Profit Tax is generally considered to be an excise tax. However, some state governments have argued that it is a federal income tax, which is not deductible for state income tax purposes. This article argues that the Windfall... more

- by Alan D Campbell
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- Petroleum, Oil and gas, OIL AND GAS ACCOUNTING, Petroleum Accounting
- by Olumide Bewaji
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- OIL AND GAS ACCOUNTING
- by Bard Misund
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- Finance, Economics, Financial Economics, Energy Economics

- by sunday samuel
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- Research Methodology, Taxation, Corporate Finance, OIL AND GAS ACCOUNTING
- by Bill Hefley
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- Development Economics, Energy Economics, Value chain analysis, Value Chain
- by Aminu Hassan
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- Accounting, Energy and Environment, Vulnerability, Environmental Sustainability
- by Mette M High and +1
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- Environmental Economics, Social Anthropology, Climate Change, Social and Cultural Anthropology
- by Harrison Declan
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- Energy, Oil and Gas Law, OIL AND GAS ACCOUNTING, Oil and gas Contracts