a r t i c l e i n f o JEL classification: D44 L71 Keywords: Oil and gas lease auctions Asymmetric information National oil company This paper analyzes bidding behavior in oil and gas tract auctions in Brazil, where the main winner has been Petrobras, a national company. We test predictions from the theory of common-value, first-price, sealed-bid auctions with asymmetric information. The tests i...

STUDY OBJECTIVE Carbon monoxide (CO) is the leading cause of poisoning fatalities in the United States. We conducted a survey to sample the quality of the information available to the public from Connecticut heating oil distributors regarding these risks. METHODS An observational, cross-sectional telephone survey of oil distributors in Connecticut was conducted, using a scripted set of questi...

This study presents the challenge involved in the negotiation and construction of a standard process in a major petroleum company that has the purpose of guiding the implementation of ergonomic studies in the development of projects, systemising the implementation of ergonomics design. The standard was created by a multi-disciplinary working group consisting of specialists in ergonomics, who wo...

Planning and assessment in maintenance, renewal and working status of oil field facilities and oil production management are evolving toward complex, spatially explicit regional assessments. These problems have to be addressed with object-oriented spatiotemporal data models that can restore, manage, query and visualize various historic and updated basic information concerning with oil field fac...

We consider the problem of optimally determining an investment portfolio for an energy company owning a network of gas pipelines, and in charge of purchasing, selling and distributing gas. We propose a two stage stochastic investment model which hedges risk by means of Conditional Value at Risk constraints. The model, solved by a decomposition method, is assessed on a real-life case, of a Brazi...

Distribution channel management not only consists of choosing distribution channels. In fact, probably the most difficult phase of the distribution management starts after this choice. Determining an appropriate organization strategy for distribution channel management is like a problem of concern to marketing practitioners and academics as well in this phase. In this study, the organization st...

Venezuela possesses the Western Hemisphere’s largest conventional proven oil reserves at 77.8 billion barrels and has proved natural gas reserves of 148 trillion cubic feet, the largest in Latin America and the seventh-largest in the world. Despite these abundant resources, economic performance of the country has been poor. Oil production declined steadily every year beginning in 1973 and by th...

The objectives of this paper are five-folds, namely (a) to investigate the awareness of management and employees about restructuring exercise, (b) to analyze whether the organizational restructuring has any impact on the employees’ performance and motivation at the Company, (c) to identify whether employees’ attitude will influence their motivation and job performance towards organizational res...