Crude oil blending is an important unit operation in petroleum refining industry. A good model for the blending system is beneficial for supervision operation, prediction of the export petroleum quality and realizing model-based optimal control. Since the blending cannot follow the ideal mixing rule in practice, we propose a static neural network to approximate the blending properties. By the d...

Property rights theory has common antecedents with contractual theories of the firm such as transaction costs and agency theories, and is yet distinct from these theories. We illustrate fundamental theoretical principles derived from these three theories by analyzing the business case of oil field unitization. Theoretical principles and application of theory to oil field unitization are each su...

The Class 2 Project at West Welch was designed to demonstrate the use of advanced technologies to enhance the economics of improved oil recovery (IOR) projects in lower quality Shallow Shelf Carbonate (SSC) reservoirs, resulting in recovery of additional oil that would otherwise be left in the reservoir at project abandonment. Accurate reservoir description is critical to the effective evaluati...

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1 Josip Juraj Strossmayer University of Osijek, Faculty of Food Technology Osijek, Franje Kuhača 20, HR-31000 Osijek, Croatia 2 MOL Hungarian Oil and Gas Company, H-2443 Százhalombatta, P.O. Box 1, Hungary 3 Croatian Veterinary Institute Zagreb, Veterinary Department Vinkovci, Josipa Kozarca 24, HR-32100 Vinkovci, Croatia 4 Budapest University of Technology and Economics, Department of Chemical...

Some natural resources – oil and minerals in particular – exert a negative and nonlinear impact on growth via their deleterious impact on institutional quality. We show this result to be very robust. The Nigerian experience provides telling confirmation of this aspect of natural resources. Waste and corruption from oil rather than Dutch disease has been responsible for its poor long run economi...

Theoretical and empirical work seems to support the idea that tight labour markets driven by resource booms induce young individuals to leave school for employment as the opportunity cost of schooling increases. Resource booms may have an adverse long term effect on the productivity of the labor force if workers under-invest in human capital rather than merely altering the timing of schooling. ...