Basis = price of hedged asset-price of hedging instrument problem of basis risk: uncertainties of processes describing the evolution of prices of asset and hedging instrument not identical, only highly correlated Example 1: weather derivatives hedged asset: heating oil sales, hedging instrument: HDD derivative HDD derivative: contract paying a premium in case HDD above a critical threshold Exam...

On the 20th of April 2010, an outstanding explosion of the BP Deepwater Horizon oil rig situated in the Golf of Mexico caused the largest maritime disaster oil spill in the USA history and particularly caused considerable reputation and financial losses to BP.To deal with the spill oil as well as reputation and financial losses, the company particularly use many tactics and tools to communicate...

Belief networks are a new, potentially im­ portant, class of knowledge-based models. ARC01, currently under development at the Atlantic Richfield Company (ARCO) and the University of Southern California (USC), is the most advanced reported implementation of these models in a financial forecasting set­ ting. ARC01's underlying belief network models the variables believed to have an im­ pact on t...

In the knowledge-based era knowledge management (KM) is considered as the primary task of organizations that strive to utilize their intellect capitals effectively. Hence, educated human resources can help to appropriate and to be enablers of KM and facilitating of Knowledge Creation, Storage Sharing and implementation. On the job training as systems of human resources development have consider...

The Karazhanbas Field (KBM) is a giant shallow heavy oil field in western Kazakhstan, less than 460 m depth. It contains heavy oil (μ ~400 cP) in seven reservoir zones from several to 40 m thick in unconsolidated sands with porosities 28-32%, permeabilities of ~0.5 D, and an arkosic lithology with angular grains. There is no free gas cap, and the structure is divided into fault-controlled block...

This cross-sectional study conducted between March and June 2006 examined stress at work and work ability of 180 people with different workplaces within an oil company. Office, laboratory, and oil-field workers were invited to complete the "Occupational Stress Assessment Questionnaire--the Oil Industry Version and Work Ability Index (WAI) Questionnaire". The overall response rate was 69.4%, and...