a r t i c l e i n f o JEL classification: D44 L71 Keywords: Oil and gas lease auctions Asymmetric information National oil company This paper analyzes bidding behavior in oil and gas tract auctions in Brazil, where the main winner has been Petrobras, a national company. We test predictions from the theory of common-value, first-price, sealed-bid auctions with asymmetric information. The tests i...

The aim, in almost all industries, is to have a high level of automation to increase productivity and efficiency. Industrial robots, which have been one important technology enabler in achieving this aim, are designed to perform repetitive, heavy, dirty and dangerous tasks. Within the oil and gas industry, robots have been used in very specific niche applications where the main driver has been ...

Girth weld cracking is one of the main failure modes in oil and gas pipelines; girth weld cracking inspection has great economic and social significance for the intrinsic safety of pipelines. This paper introduces the typical girth weld defects of oil and gas pipelines and the common nondestructive testing methods, and systematically generalizes the progress in the studies on technical principl...

In terms of sharp drop of international oil prices in the second half of 2008 after heading skyward in the first half of 2008 following continual growth since 2005, while at the same time certain parity among energy prices was disrupted, the author of this article tried to investigate key factors that influenced oil and gas industry and to answer the question what would be a »fair» price of cru...

The oil and gas industry is involved in a global supply-chain that includes domestic and international transportation, ordering and inventory visibility and control, materials handling, import/export facilitation and information technology. Thus, the industry offers a classic model for implementing supply-chain management techniques. In a supply-chain, a company is linked to its upstream suppli...

Stock market plays a very influential role for the economy of any country. Energy sector is considered as one of the dominating sectors in the stock market. This sector is evidently affected by oil and gas prices and performance of this sector is evaluated by stock returns of the oil & gas companies. Therefore, the study of such stock returns always remains an objective of interest for many fin...

Vanadium pentoxide poisoning has been described in men working in plants processing vanadium ore by Symanski (1939) and Sjoberg (1950), and twice (Wyers, 1946; Williams, 1952) in men exposed to the soot of fuel oil burned in boilers. It does not, however, appear to have been described before in men who work on gas turbines. Since these may become much more common in the future as sources of pow...

Volumetric mass transfer coefficient (kLa) is an important parameter in bioreactors handling viscous fermentations such as xanthan gum production, as it affects the reactor performance and productivity. Published literatures showed that adding an organic phase such as hydrocarbons or vegetable oil could increase the kLa. The present study opted for palm oil as the organic phase as it is plentif...

CDOG (Clarkson Deepwater Oil and Gas) model simulates the behavior of oil and gas released from deepwater. The model integrates the hydrodynamics of the jet/plume, the thermodynamics, and the hydrate formation and decomposition. CDOG simulates both the dynamics of the jet/plume phase and the farfield conditions during the rise of oil/gas/hydrates through the water column. CDOG allows gas/hydrat...

nowadays one of the most important energy sources is natural gas. by depletion of oil reservoirs in the world, natural gasâ will emerge as the future energy source for human life. one of the major concerns of gas suppliers is being able to supply this source of energy the entire year. this concern intensifies during more consuming seasons of the year when the demand for natural gas increases, r...