International oil essay

1.1 There are several contractual concepts used around the world by governments to permit international oil companies (‘IOC’) to carry out petroleum explorations and, in the event of a commercial discovery, development and production operations.

BP has been able to dominate in the oil industry since its establishment, and this has enabled the company to gain a dominant position in the market. The company is the third biggest internationally in the oil industry. It is deemed a multinational oil corporation due to its involvement in the global market activities.

On a personal level, “oil and gas provides the world 's 7 billion people with 60 percent of their daily energy needs. The other 40 percent comes from coal, nuclear and hydroelectric power, solar and tidal power, and biomass products such as firewood (Petroleum Online, 2014).” “As fuels, they keep us warm in cold weather and cool in hot weather;

APACHE CORPORATION – PART I OIL & GAS EXTERNAL ENVIRONMENT ANALYSIS University of Houston - Victoria Ngan Tran – 1211564 MGMT 6359 10/12/2014   1.1 General Environmental Analysis 1.1.1 Demographic Segment The age demographic segment of oil and gas industry is normally people in their late 40s and early 50s.