Petroleum contract and economics Essay Example | Topics and Well Written Essays - 3000 words

Petroleum contract and economics - Essay Example It is reported that crack spreads are mostly higher in areas that have a constricted capacity for refining oil and a high demand for refined products. Some areas are categorized as having a constrained capability of refining oil and an above average growth for the demand of refined oil products. In the last decade, some areas such as Tema, have experienced higher profit margins for oil products than other areas. The location of a refinery is also vital because it affects the supply of crude oil which is processed at the refinery. It is worth noting that access to cheaper heavy crude oil helps the refinery optimize on feedback differentials such as feedstock (Economic impacts of oil spills Spill unit costs for tankers, pipelines, refineries, and offshore facilities 1993). The site for the new oil refinery was chosen for a number of reasons but mainly due to strategic purposes. Ghanaville has a well-connected infrastructure consisting of roads and an existing port. This is coupled with the recent government’s initiative (Ghana Ports & Harbors Authority) to implement new changes at the port with an aim of upgrading and modern sing the port. The site Ghanaville, has an already existing operational port with ease of access to a railway line and a network of roads that will facilitate the receival of feedstock and the shipment of refined products at the new location. The location is also very secure with regards to the specially designated area that is patrolled routinely by police officers. The security is further aided by the already established contract between the authority body and the company relating to the tenure of the land where the new refinery is going to be located. A long term lease has been already approved. The new location is surrounded by a growing urban center which will be able to offer a relatively good support system for families and businesses. The quality of life of both businesses and families that will be

Introduction to Estimation and Analysis of Variance Research Paper

Introduction to Estimation and Analysis of Variance - Research Paper Example The One – Way ANOVA is thus named, since it compares the variance of the different groups as a function of one Independent Variable. The ANOVA can only be conducted if certain conditions have been met – the data collected is either on an equal interval or ratio scale; the cases are independent of each other, the data comes from a normally distributed population, and that the population variance for the groups is equal. An example of a situation in which it would be possible to apply the One – Way ANOVA static would be one in which the efficacy of different training methods was to be measured. Suppose that a group of novices was to be taught a particular trade, and there were a number of ways in which the novices could be trained. It is possible to study the results of different kinds of training on group’s o novices and use the One – Way ANOVA to identify the most effective training method. ... Thus the levels of the independent variable are categorical; and exclusive. For this example, it is possible to examine four types of training methods – Classroom teaching; On-the-job training; Guided Practice, and Simulation Training. Thus, the Independent variable – Type of Training – now has four levels - Classroom teaching; On-the-job training; Guided Practice, and Simulation Training. The effect of these techniques is tested on the way in which the individual completes a day of independent activity at the end of the training period. Thus, it is possible to say that at the end of the training period, the novices are tested to evaluate their level of learning. On the basis of this understanding it is possible to say that the Dependent Variable in this example is the Learning Exhibited by the novice, as measured by a test of skill. If this experiment were to be conducted; it would require the testing of a hypothesis. The null hypothesis for a One – Way A NOVA is – â€Å"There is no difference between the groups on learning that may be associated with the type of training†. Assuming that the study expected to find a difference in the learning exhibited; the alternative hypothesis â€Å"There will be a significant difference in the learning exhibited by novices as a function of the training method† may be put forth. In the event that there is a significant difference between the four groups – that is – the ANOVA static is significant at the chosen level; it becomes necessary to conduct a Post – Hoc test like the Tukey’s HSD. This is because, a significant ANOVA result indicates that there is a significant difference between the groups; but it does not indicate which groups differ significantly from each other. In order to ascertain this; i9t is