E Procurement Implementation Of Petroleum Industry : Pakistan Is Not A Poor Nation? Essay

Nine months after the last pullout of U.S troops, Iraq’s oil production has been growing so rapidly that world markets are now looking to Baghdad to play a major role in keeping global oil flowing and moderating prices in the years ahead. Even though the International Energy Agency (The IEA) does believe that Iraq has the potential to boost the global oil supply in coming years, they also have concerns over whether Iraq is stable enough for the task. The article entitled “Iraq Oil Production Poised to Lead World Oil Supply Growth, but Obstacles Loom,” by Thomas K. Grose is about how Iraq has the capability to lead Earth’s oil productions, but it also takes into consideration the challenges that Iraq faces as a country. The following is a report over the two parts of the title of Thomas’s Article.

and sold in 80 countries so products are produced worldwide and sold worldwide. The oil and gas industry is doing well as there is high demand for it as people need it to run their cars and to work gas appliances. BP is in the primary, secondary and tertiary as BP extracts oil from the ground through the use of oil rigs therefore extraction is primary. BP then refines the oil in one of their 16 refineries where oil is refined and turned into petrol and diesel which is secondary because they are manufacturing to create finished goods. BP is also in the tertiary sector because they sell their petrol, paraffin and diesel at their 22,100 retail sites worldwide and to other companies.

The demand for oil has been predicted to increase despite the high price of oil. Sources of the demand for oil continue to increase with time worldwide. As countries industrialize and develop, their oil consumption increases together with their economy. Examples of countries that have their economy growing fastest and steadily are India and China. These two countries have their economy growing and the impact their economic growth has on oil demand is great. Some developed countries are also about to change their habits on oil demand. This will be likely adapted faster if the prices of oil continue to rise. Oil prices are determined by the traders and speculators who control and manipulate the future oil market (Anderson, 1).

Energy production of any country is the measure of its economy. No country can achieve high economic growth without producing sufficient energy. Production of energy crisis is a Greek word which means ‘decisive moment’. Crisis is declared when something has gone to a level where an action must be taken to avoid complete disaster ‘Energy crisis, takes place due to several reasons some of which are: increasing price of oil,power wastage ,less dams,incompitancy of exploration sector, miss allocation of resourcesflects industrial output,transportation,agricultural output,etc.Electricity breakdown in Pakistan is alarming. When energy supply of an industry is restricted, its output decreases and cost of production available to human beings.Therefore,we can say that energy crisis is a crisis of human development. It is indeed a matter of life and death. The multidimensional ongoing energy crisis has been having a knock on the life of every Pakistani. Without energy the wheel can’t run on roads, industry and agriculture can’t sustain, hospitals and operation theatres can’t function, schools and laboratories can’t work,public and private sector business cannot operate. Energy is the life blood of socities,provides a wide range of services essentials to everyday life, including heating,cooling,lighting,preserving of food, pumping fresh water, operating communication systems,internet and information portals and providing power for a wide range of appliances increases

The oil age has become an age of inequality. The discovery of oil has brought the wealth of a few people, and has brought misery to most people. Many oil rich countries suffer from the distortion of the economic development, the financial instability, the increasing gap between the rich and the poor, the serious

Oil: Riding on the tails of the Arab Spring the price of oil remains high. The Middle East’s eternal

Firstly, Upstream; which consists of oil exploration, extraction, shipping, and large-scale operations. Secondly, Downstream; which involves marketing, refining, development of modern technologies and retail operations. And finally, Chemical operations which includes the production of substances such as polyethylene, the most common plastic and polypropylene used for a range of things including underwear and rope .

At present, the world, including U.S. has been undergoing a recession. Many U.S Company and firms have disappeared because of the world-wide recession. One the other, companies industries, like mobile device production, Social Network Service and cigarette production, somehow managed to survive and have been doing great performances so far. Many industries prospering and emerging, are industries with high technology products with online services. To be specific, thanks to technology in the oil industry, there was the incredible method to get oil such as sail oil, which made a big change in this industry. According to an article of oil price, the U.S crude decreased by less than $43 barrel Monday to $42.85 for the first time

Petro Oil Company is known as a reliable oil provider for consumers that is delivered in a timely manner. However, before any products or services are produced products have to meet the requirements of the company objectives which include satisfying the external economic environment. Petro Inc. deliverables are a major source for countless customers and suppliers. Petro Inc. is a powerful heating and air conditioning company that has been in existence since 1903. The company has built its reputation on the invention of the oil burner in California, along with the conversion from coal burning systems to oil burning systems. Petro oil was named Fess System Company and offers many customers/consumers a wide verity of services. For

World oil demand is increasing as emerging economies need more energy to increase their living standards. Estimates, shown below, are that by 2030, China and India as emerging markets will import over 70% to 90% of their fossil fuel needs (1) . Coupled to a continued high and growing demand for oil, makes this a robust market for the next 30 years.

The global oil prices have fallen sharply since the second half of 2014, which has led to a series of economic problems. Oil prices have been stable from 2010 until mid-2014, remaining at around $110 a barrel (BBC News). However, prices showed a sharp decline since June 2014 and have been more than halved now (BBC News). Brent Crude oil is priced below $50 a barrel and US crude is dipped down to below $48 a barrel now (BBC News). Oil prices shock is making the whole oil industry straggling. In particular, oil producing and exporting nations including Russia, OPEC (especially Venezuela and Saudi Arabia), and United States are the major victims in the oil prices shock. They are suffering from a fallback in their economy development due to the significant revenue shortfalls. Russia is suffering from a significant economy recession (BBC News). Brad Plumer points out that economy in Russia is “facing a potential meltdown”; Venezuela is “facing unrest” and “may default on its debt”; and Saudi Arabia will face heavy pressure if the price remains low even it has prepared for the shock (par. 7). Nonetheless, low oil prices are welcomed by oil importers like Europe, Asian countries, especially China, Japan, and India because they can pay less for oil. Europe’s flagging economies are characterized by low inflation and slow growth, receiving 0.1% increase in economic output when a 10% fall happened to oil prices (BBC News). China, the largest net importer of oil is surely benefiting

Energy resources are essential for national security, technological development, overall contemporary life style, etc. In this respect, oil is the main source for worldwide economy. Peak oil would imbalance countries' economical situations and may lead to a chain reaction with negative effects on multiple layers. Evidently, there is mutual interest to prevent such a thing from happening but the possibility is nevertheless considered. OPEC's initial goal to ensure stable prices on petroleum markets in order to avoid any negative fluctuations did not always correspond. The organization actually favored inflation more than in one occasion but its influence in controlling oil prices dropped considerably since 1973. It was proven that, having quadrupled the price of oil, OPEC had in its hands the power to inflict economic hurt on the rich countries. (Beenstock 2007, p. 134) Although OPEC does not completely control the oil market today, it nevertheless continues to be influent because its decisions to reduce production may lead to either a decrease or increase of oil prices. OPEC's existence is dependent on the future of oil. Whether or not oil will dominate as the main energetic source for worldwide economy will decide its future. Considering that OPEC's oil has been a vital source of energy during the last half of century, (Khusanjanova 2011, p. 19) and that oil is expected to play a similar role within the next century, we can assume the organization will at least maintain its

Oil has become the means of survival for both consumers and producers. Consequently, the fluctuations in the price of oil have become one of the greatest concerns in the economy. According to Branginskii, ‘the market of energy carriers, primarily oil, are a great threat to world economy. Lack of clarity with crude oil prices

This research study identifies the benefits and challenges to the implementation of E-procurement in the organizations. E-procurement is the process of purchasing the goods or services from various suppliers through the internet. This helps to provides number of benefits over older manual procurement method by eliminating several errors. These benefits include reduction of administrative cost, faster transfer of information, improve communication, and decrease in inventory cost (Matunga, Nyanamba, & Okibo, 2013). In corporate sector, the procurement has been divided into two section i.e. direct and indirect procurement. Direct procurement involves the materials that are used in the production of manufactured goods, whereas indirect procurement deals with the involvement of day to day operations. E-procurement mainly provides more concentration on indirect procurement in contrast to direct procurement (Kim & Shunk, 2004).

Pakistan State Oil (PSO) is the oil market leader in Pakistan enjoying over 78.2% share of Black Oil market and 54.3% share of White Oil market. It is engaged in import, storage, distribution and marketing of various POL products, including Mogas, Diesel, Fuel Oil, Jet Fuel, Kerosene, LPG, CNG and petro-chemicals. This blue chip company, the winner of "Karachi Stock Exchange Top Companies Award" and a member of World Economic Forum, has been a popular topic of case studies in Pakistan and abroad based on its radical corporate turnaround over the last few years.