Topdog/Underdog Play Characters and Summary

Topdog/Underdog is about the men who hustle cards and take money from fools. But these characters are not as slick as the con-men in David Mamet’s scripts. They are soured, worn-out, self-reflective, and on the brink of destruction. Written by Suzan-Lori Parks, Topdog/Underdog  won the Pulitzer Prize for Drama in 2002. This two-person drama is filled with gritty dialogue and age-old themes, rooted in a long tradition of fraternal rivals: Cain and Abel, Romulus and Remus, Moses and Pharaoh. The Plot and Characters Two brothers in their mid-to-late thirties struggle to eke out an existence in a shabby little rooming house. The older brother, Lincoln (also known as â€Å"Link†), was once a skilled Three-card Monte con-artist who gave it up after the untimely death of his friend. The younger brother, Booth, wants to be a big shot – but spends most of his time shoplifting and awkwardly practicing the art of card hustling. Their father named them Booth and Lincoln; it was his dismal idea of a joke. Booth talks about his many goals and dreams. He discusses his sexual conquests and his romantic frustrations. Lincoln is much lower-key. He often thinks about his past: his ex-wife, his successes as a card hustler, his parents who abandoned him when he was sixteen. Booth is impulsive throughout most of the play, sometimes reacting violently whenever frustrated or intimidated. Lincoln, on the other hand, seems to let the world step all over him. Instead of grifting, Lincoln has settled into a very odd job at a carnival arcade. For hours on end, he sits in a display box dressed as Abraham Lincoln. Because he is black, his employers insist that he wears â€Å"white-face† make-up. He sits still, reenacting the final moments of the famed president. The â€Å"real† Lincoln was assassinated by a man named Booth as he watched the play, My American Cousin ). Throughout the day, paying customers sneak up and shoot Link in the back of the head with a cap-gun. It’s a strange and morbid occupation. Link gets lured back into card hustling; he’s in his natural element when hes working the cards. Seething Sibling Rivalry Lincoln and Booth share a complex (and therefore fascinating) relationship. They constantly tease and insult one another, but alternately offer support and encouragement. They both pine over failed romantic relationships. They were both abandoned by their parents. Link practically raised Booth, and the younger brother is both envious and in awe of his elder. Despite this kinship, they often betray each other. By the play’s end, Booth graphically describes how he seduced Link’s wife. In turn, the older brother swindles Booth. And even though he promised to teach the younger brother how to throw cards, Lincoln keeps all the secrets to himself. Conclusion of "Topdog/Underdog" The inevitable conclusion is as violent as one might expect, considering the names of the two characters. In fact, there is something disturbingly voyeuristic about the final scene. The explosive ending feels very similar to the unpleasant job that poor Link has at the arcade. Perhaps the message is that we the audience are just as blood-thirsty and macabre as the carnival patrons who pretend to shoot Lincoln day after day. Throughout the play, the brothers exhibit very shady, misguided, and misogynistic characteristics. Yet, through it all, they are very human and very believable as brothers who have been through so much together. It seems the climactic violence stems not so much from a believable progression of the characters, but from the author forcing these deadly themes onto her creations. Is the ending predictable? Somewhat. Predictability is not entirely a bad thing in drama. But the playwright could give us one more throw of the cards so that we could be fooled again.

Natural Disasters And Manmade Disasters Essay - 1948 Words

Abstract Some or maybe all of us have been a part of some event that has taken place throughout their existence. The events that you or other people may have taken part in have been for enjoyment or for pleasure as for others or there are people who have gone through a series of events that has completely ruined their lives in a matter of days. Just to throw this out there, some events that could ruin people lives are natural disasters or manmade disasters, losing someone that you cared about most in this world. These events leave us looking hopeless, needing a sense of direction and a big contribution from the man upstairs. I’m here to talk to you about a natural disaster that happen just a little over 10 years ago and the event that had taken place was Hurricane Katrina. What comes to mind when we think of the word natural disaster? Well my take on it is that it’s a major adverse event resulting from the natural processes of the Earth. Natural disasters can claim prop erties, damage the economy, and can even result in death. You know as well as I know what happened in Hurricane Katrina. I went through it back in 2005. I’m here to research and provide a summary of the event, to examine the precautions (preparations) that were taken beforehand when the storm was still in the tropics, to take a look at how the local, state, and federal governments responded to the event and talk about the recovery process and where the state of Louisiana is today. Keywords: NaturalShow MoreRelatedCommunity Disaster Assessment and Planning Essay1241 Words   |  5 PagesCommunity Disaster Assessment and Planning The potential for natural and manmade disasters is a constant threat, especially in today’s world of climate change, political upheaval, and global unrest and terrorist activity. Due to the many potentiating factors that substantially increase the potential and threat of disaster it is necessary that at a national, state, county, and community level plans are in place for immediate response and action. The threat of disaster is a global, national, stateRead MoreHow Natural Disasters Affect the Environment996 Words   |  4 PagesHow Natural Disasters Affect the Environment Authors name Authors institutional affiliation Authors note How Natural Disasters Affect the Environment A natural hazard is a geophysical, atmospheric or hydrological event (e.g., earthquake, landslide, tsunami, windstorm, flood or drought) that has the potential to cause harm or loss, while a natural disaster is the occurrence of an extreme hazardous event that impacts on communities causing damage, disruption and casualties, and leaving theRead MoreWhat is a Disaster?888 Words   |  3 PagesThe word disaster derives its literal meaning from the French word â€Å"Desastre†, a combination of two words ‘des’ meaning bad and ‘aster’ meaning star, thus the term refers to ‘Bad or Evil star . However, it has also been defined as â€Å"any disruption of normal social and economic activity due to natural or other causes that results in widespread or severe damage, injury and/or loss of life or property† . Disasters are also defined as â€Å"a crisis situation causing wide spread damage which far exceed ourRead MoreGlobal Disaster Preparation A nd Rural Communities880 Words   |  4 PagesClosing the Gap Global Disaster Preparation and Rural Communities Aletheia LLP Rural communities have largely been left out of the discussion when it comes to disaster preparation and planning. Most global planners hail from urban areas, governments are located in urban areas, and most NGOs in the disaster sphere are headquartered in urban areas. Naturally, the urban areas are the priority of effort for funding and preparation. 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This plan provides an effective guidelines that is required to be followed by the security staffs of White House under such circumstances in order to protect the security staffs from severe personal injuries and accidents and the CIA triad ofRead MoreDisaster Management Cycle1092 Words   |  5 PagesDisaster Preparedness and Management Assignment No. 1 [pic] Submitted to: Sir Muhammad Akmal Khan Submitted by: Tayyab Hasnain Janjua Reg # 14DD-410004 D.DRM Second Quarter Fall 2010 Disaster Management Cycle Disaster Risk Management includes sum total of all activities, programmes and measures which can be taken up before, during and after a disaster with the purpose to avoid a disaster, reduce its impact or recover from its losses. The three key stages of activities that areRead MoreThe Role Of Healthcare Professionals And Public Health Providers1404 Words   |  6 Pagesout the names of people missing.† (1) The above story was published by the associated press and describes a very recent natural disaster that took place in Mocoa Columbia. As a practicing physician and now being more involved in public health, the role of healthcare professionals and public health providers in disaster preparation is something I am very interested in. A disaster is defined as a â€Å"serious disruption of the functioning of a community or society involving widespread human, material, economicRead MoreDisaster Essay1644 Words   |  7 Pagesâ€Å"DISASTERS CREATES OPPURTUNITIES FOR DEVELOPMENT† DISASTER: Disaster can be defined as â€Å"The occurrence of a sudden or major misfortune which disrupts the basic fabric and normal functioning of a society, or community.† â€Å"An event or series of events which gives rise to casualties and/or damage or loss of property, infrastructure, essential services or means of livelihood on a scale which is beyond the normal capacity of the affected community’s ability to cope with out aid.† According to UNISDRRead MoreBrain Storm : The New War On Poverty1269 Words   |  6 PagesBrain Storm: The New War on Poverty How the media portrays those living in poverty initiated many new chapters in scholarly research. Very few, however, address the media’s depiction of the poor during times of disaster (natural or manmade). The issue of poverty is mostly understood through the frames in which the media presents it. As the media continues to use episodic frames (individual causes) over thematic frames that seek to address poverty in its entirety (Iyengar, 1990), the frames deliverRead MoreThe Threat Of Emergency Response Operations1604 Words   |  7 PagesThe quote; â€Å"Threats and Vulnerabilities emanating from man-made and natural disaster are the crux of the U.S. all-hazard approach to homeland security (HS), but this approach appears to be inherently flawed.† is not true. This essay will argue that emergency response operations are at the crux of the U.S. all-hazard approach to homeland security and that this approach is not inherently flawed just not all encompassing. This i s because the emergency response operations such as crisis and consequence

Urban Problems and the Authors Who Revealed Them to Us Free Essays

Around the 18th century, the industrial revolution began. This is when immigrants came and started to work in factories, not-so-good conditions. They worked in sorrowful rooms called sweatshops. We will write a custom essay sample on ï » ¿Urban Problems and the Authors Who Revealed Them to Us or any similar topic only for you Order Now There are some authors who were alive at the time and decided to investigate upon it. Others who were not alive at the time and they still were interested and were destined to research it. These authors were cordial to inform us the problems and vexations during that era. In this essay, I will be conducting, comparing and contrasting two books; ‘The jungle by Upton Sinclair†. And ‘How the other half lives† by Jacob Riis. How the Other Half Lives Imagine living in a dark, unlit tenement which is windowless and about 10 feet square. Photographers would come; a flash explodes, enlightening their impoverishment. Although the dimness of the room, a document of urban poverty is made. That is the way; Jacob Riis took pictures in lower Manhattan. This pioneering work of photojournalism by Jacob Riis focused on the plight of the poor in the Lower East Side, and greatly influenced future â€Å"muckraking† journalism. Riis mostly attributed the plight of the poor to environmental conditions, but he also divided the poor into two categories: deserving of assistance (mostly women and children) and undeserving (mostly the unemployed and intractably criminal). He wrote with prejudice about Jews, Italians, and Irish, and he stopped short of calling for government intervention. Still, the catalyst of his work was a genuine sympathy for his subjects, and his work shocked many New Yorkers. The Jungle Upton Sinclair was a desperately poor, young socialist hoping to remake the world when he settled down in a tarpaper shack in Princeton Township and penned his Great American Novel. Upton Sinclair wrote The Jungle to expose the appalling working conditions in the meat-packing industry. His description of diseased, rotten, and contaminated meat shocked the public and led to new federal food safety laws. Before the turn of the 20th century, a major reform movement had emerged in the United States. Known as progressives, the  reformers were reacting to problems caused by the rapid growth of factories and cities. Progressives at first concentrated on improving the lives of those living in slums and in getting rid of corruption in government. By the beginning of the new century, progressives had started to attack huge corporations like Standard Oil, U. S. Steel, and the Amour meat-packing company for their unjust practices. The progressives revealed how these companies eliminated competition, set high prices, and treated workers as â€Å"wage slaves. â€Å" How to cite ï » ¿Urban Problems and the Authors Who Revealed Them to Us, Papers

Gatsby’s Dream Essay Example For Students

Gatsby’s Dream Essay Jay Gatsby, the central character of F. Scott Fitzgerald’s The Great Gatsby symbolizes the American dream. The American dream offers faith in the possibility of a better life. Its attendant illusion is the belief that material wealth alone can bring that dream to fruition. Through Gatsby, Fitzgerald brings together both these ideas. Jay Gatsby thinks money is the answer to anything he encounters. He has the best of everything. The fanciest car, the largest house, and the finest clothes. Jay has everything except the object he most desires, Daisy. Gatsby believes he can win Daisy over with wealth, that he could achieve the ideal she stood for through his material possessions. One look at Gatsby’s past and it could be seen that he was destined to get ahead in life. Mr. Gatz told Nick, â€Å"Jimmy was bound to get ahead. He always had some resolves like this or something. Do you notice what he’s got about improving his mind? He was always great for that. He told me I et like a hog once and I beat him for it† (182). Gatsby’s determination to gain a large bankroll is a huge part of the American dream. He believes that once he achieved his financial goal it would lead to a better life. In America the car is one of the greatest status symbols. Gatsby’s gorgeous machine is one of the most majestic cars created. Nick’s comments on the vehicle describe its luster, â€Å"†¦and there in its monstrous length with triumphant hatboxes and supper-boxes and tool-boxes†¦Sitting down behind many layers of glass in a sort of leather conservatory we started towards town† (68). The use of the symbolic automobile can be seen as a emonstration of how an ideal based on materialism alone can be destructive. This was the fatal car which kills Myrtle Wilson and indirectly leads to Gatsby’s death. Appearance is another important factor toward Gatsby’s dream. In his quest to win Daisy’s heart Gatsby chooses to wear his best outfit. â€Å"†¦the front door opened nervously and Gatsby in a white flannel suit, silver shirt and gold colored tie hurried in† (89). Silver and gold are the colors of wealth, Gatsby’s sartorial splendor is as lavish as any of the other items he owns. Gatsby’s shirts are more then just garments towards Gatsby. They are some of the many fascinating objects he possesses that were created by money. These shirts contribute towards Gatsby’s vision of the American dream, that his money and belongings will create happiness for him. Another major object of Gatsby’s dream was his incredible house. Jay states to Nick and Daisy, â€Å"My house looks well, doesn’t it? See how the whole front of it catches the light† (95). Jay gave Nick and Daisy the grand tour of his house showing of all of his worldly possessions. Room after room, everything was shown and mentioned. At the sight of his piles and piles of shirts Daisy broke down. â€Å"They’re such beautiful shirts, it makes me sad because I’ve never seen such–such beautiful shirts before† (98). Jay Gatsby’s ideals were parallel to the typical American dream. He wants to claim his objective by the use of his assets. He thinks that his money will give him happiness in life through love and his personal belongings. Even the richest man in the world can’t have everything. Material wealth ould provide many things for Jay Gatsby but not the thing he most desired. Although his wealth drew Daisy closer to him, he never truly could have possessed her heart. He demanded Daisy to state that she had never loved Tom Buchanan. â€Å"Oh, you want too much! † she cried to Gatsby, â€Å"I love you now–isn’t that enough? I can’t help what’s past. I did love him once–but I loved you too. † (139-140). Jay’s true love still remained with her uncaring husband, Tom. Jay Gatsby’s dream was smashed when he found out that even all of his assets weren’t enough to woo Daisy to him. .u71120a7583c953bb72f1859c6a90b5f1 , .u71120a7583c953bb72f1859c6a90b5f1 .postImageUrl , .u71120a7583c953bb72f1859c6a90b5f1 .centered-text-area { min-height: 80px; position: relative; } .u71120a7583c953bb72f1859c6a90b5f1 , .u71120a7583c953bb72f1859c6a90b5f1:hover , .u71120a7583c953bb72f1859c6a90b5f1:visited , .u71120a7583c953bb72f1859c6a90b5f1:active { border:0!important; } .u71120a7583c953bb72f1859c6a90b5f1 .clearfix:after { content: ""; display: table; clear: both; } .u71120a7583c953bb72f1859c6a90b5f1 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u71120a7583c953bb72f1859c6a90b5f1:active , .u71120a7583c953bb72f1859c6a90b5f1:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u71120a7583c953bb72f1859c6a90b5f1 .centered-text-area { width: 100%; position: relative ; } .u71120a7583c953bb72f1859c6a90b5f1 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u71120a7583c953bb72f1859c6a90b5f1 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u71120a7583c953bb72f1859c6a90b5f1 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u71120a7583c953bb72f1859c6a90b5f1:hover .ctaButton { background-color: #34495E!important; } .u71120a7583c953bb72f1859c6a90b5f1 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u71120a7583c953bb72f1859c6a90b5f1 .u71120a7583c953bb72f1859c6a90b5f1-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u71120a7583c953bb72f1859c6a90b5f1:after { content: ""; display: block; clear: both; } READ: Comparing The Adventures of Huck Finn by Mark Twain and The Catcher In The Rye by J.D. Salinger EssayJay Gatsby’s belief in the American dream keep him from realizing reality. He believes that if he worked hard enough and made enough money that he could have anything. He wants to perceive the world as a place where sufficient wealth would enable him to recapture and recreate the past he desired with Daisy. Gatsby began planning for his dream when he was young. This can be seen from his journal he wrote as a young man which was discovered by Mr. Gatz. His attempt to accomplish his dream with cars and shirts could not have been successful.

Femicide in Guatemala free essay sample

Femicide in Guatemala â€Å"Six women and girls were killed in Guatemala last week in one day alone. Two of the girls, about 6 and 12 years old, were found strangled to death in a street in the capital Guatemala City wearing their pajamas† (Moloney 1). Guatemala has the third highest rate of Femicide in the world. Femicide is defined as the killing of a woman by a man because she is a female. In Guatemala, a significantly high number of femicide cases have been reported and I strongly believe that this is a very troublesome and unhealthy issue for the population. More than 3800 females have been murdered in Guatemala since the year 2000 and this is just the official number. This clearly suggests that numerous innocent women are tortured and killed by men each day throughout the region. Another report suggests that 512 women were killed between January 1 and October 16 in the year 2012 alone and this is after a 10 percent decline from the previous year. We will write a custom essay sample on Femicide in Guatemala or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page (PCUSA, 1) Most of these cases were reported in the province of Guatemala, which includes the country’s largest city and capital. The fact that this number is still so high despite the drop suggests what an urgent issue this is. There are various reasons for this violent victimization of women throughout Guatemala and is becoming an increasingly pressing issue which needs serious attention. It has been reported that this region is one of the unsafe areas in the world for women. Each day countless women are raped, mutated, forced into sexual slavery and abortions, sterilized and murdered. This creates a sense of fear among the entire population and makes them more submissive to this brutality. Men and women throughout the country live their lives in immense anxiety and stress of losing the women that they love. One of the main concerns regarding femicide is impunity, meaning that most of these cases are not brought to trial. Reports suggest that only 1%-2% of femicide cases are prosecuted whereas criminals have a 98% to 99% chance of completely escaping any punishment or prosecution. This poses a huge problem because women don’t get the justice that they deserve and criminals easily escape. This is very unfair for the innocent women who are victims of such crimes because their offenders don’t receive the punishment that they deserve. Another main reason for this exigent issue is the inability of the Guatemalan authorities to ensure the safety of women. This is to say that the Guatemalan government is so corrupt that they are unable to provide security for women and with the extremely high rate of impunity it is almost impossible for women to find justice. Now, it is very important to understand why these gender specific crimes exist in the region. One of the main reasons for this violent targeting of women goes back to the â€Å"Guatemalan government and military’s 36 year old genocidal counterinsurgency campaign against the country’s Mayan population† (Mychalejko 1). This is to say that the reason behind this problem of femicide exists to destroy the intricate social bonds of Mayan communities. Additionally, â€Å"Gender violence not only terrorizes women in the community, but it also disrupts traditional patriarchal gender relations by sending the message to men that they are not capable of protecting women† (Mychalejko 1). I find this medium of using gender violence to target an indigenous population very disappointing. It is not ethical for a population to kill thousands of women in order to get even with a community. Further, it is believed that this harsh behavior against women is really effecting the male population because such incidents happen so frequently that they are becoming insensitive to such incidents. Men in the Guatemalan society have become normalized to such reports and this can be seen because the crimes are continuing to become more inhumane and frequent. As mentioned above, one of the primary reasons for this ongoing violence against women is the Guatemalan Civil war, which left behind harsh memories of violence and impunity. The increased militarization cause by the ongoing war on drugs also continues to contribute to these high femicide rates. Guatemala is one of the regions strongly involved in the drug trade and thus women are used as collateral damage in the battle between gangs. Additionally, the economic and political climate in the region is not very stable and thus the land a resource conflict also contributes to these innocent deaths. Lastly, it has also been found that the increased involvement of foreign governments, especially US and Canada play an important role in this violence targeted to women. Basically, the Guatemalan government uses the targeting of women as a â€Å"tactical and deliberate tool of political repression (Mychalejko 2). In my personal opinion, not only is this very disturbing but it is also very unfair. Women play an important role in building a society and this unnecessary violence against them is very alarming. Using women as a bait to target the bigger economic and political issues is unethical and should not be practiced by any government. It is impossible for women to find hope and justice in a society where such high impunity exists. This continues to be a never-ending cycle for thousands of innocent women who lose their lives, while the people responsible are let free. Overall this is an absolute shame and mockery of the system. The Guatemalan civil war really contributes to these high rates of gender violence in the country. The aftermath of the war left more than 200,000 Guatemalans murdered, most of who were indigenous. Also, thousands were raped, tortured, disappeared and displaced. The most disappointing part however, is that over 98 percent of the people who engaged in these war crimes were left free. It is this lack of justice that left criminals in the country in power and innocent victims hurt. Therefore, these high rates of femicide are to inform the local population about this harsh past and to remind them that justice has not yet come. In conclusion, I think that we must all focus our attention to this increasing issue of femicide in Guatemala. In the recent times, as the political repression against women in increasing, they are becoming more active in order to prevent femicide. For example, â€Å"In Guatemala it has been proven that as more women participate politically and socially, it brings out more repression. An example is the recent attempt on the life of [the aforementioned anti-mining activist] Yolanda Oqueli† (Mychalejko 3). Yolanda is a leader of FRENAM, a movement that aims to defend land from expansion activities. She was returning home from a peaceful protest when she was shot. I believe that this issue of femicide is one that needs immediate attention. It is absolutely wrong and immoral to use a country’s women as a way of gaining political control. Additionally, the Guatemalan government is extremely corrupted and has a very high rate of impunity, which in turn, allows criminals to go free and possibly even commit the crime again. I suggest that the citizens of the world acknowledge this and do an intervention throughout the region. It is high time that women not be used as a bait to target men or to settle past scores. Women are an integral part of any society and deserve respect and security.

The Impact of Culture Differences on Strategy Realisation in the Post-Acquisition Process The WritePass Journal

The Impact of Culture Differences on Strategy Realisation in the Post-Acquisition Process REFERENCES The Impact of Culture Differences on Strategy Realisation in the Post-Acquisition Process Impact of Culture on the Post-Acquisition Integration ProcessResearch frameworkHypothesesDiscussion and ImplicationsLimitationsFurther researchREFERENCESRelated This study sets out to develop an understanding of why and how in the post-acquisition integration process, culture differences impact strategy realization. Based on clinical research, the effect of culture differences was explored in multiple integration settings within a single multinational corporation. This pointed to various degrees of perceived organizational and perceived personal uncertainty associated with different integration approaches impacting on commitment to organizational goals. A controlled laboratory experiment validated perceived uncertainty causing an individual change on the socially constructed variable culture, which affects employees’ behavior, such that it negatively impacts the process to strategy realization. The theoretical and practical relevance of these findings is discussed, as are directions for further research. Mergers and acquisitions (MA) as a strategy for growth, by their sheer size and number, carry strategic importance for companies, industries, and the economy as a whole. MA are a select opportunity to enhance a firm’s capabilities, and though a well-traveled, not proven road to value creation. Success depends on companies’ ability to achieve their specific synergy goals by integrating their specific organizations, sharing their specific resources, and reconfiguring their organization toward value-creation processes. The needed inter- and intra-company cooperation, turning potential into achievement, reinforces the need to regard strategy formulation and implementation as aspects of the same objective. The study develops an understanding of why, and how, culture differences impact strategy realization in mergers and acquisitions (MA). The following three premises set the framework of the research area: (1) MA are a select opportunity to enhance a firm’s capabilities (Haspeslagh and Jemison 1991); (2) The post-acquisition integration process is a crucial factor in MA, whereby management of the post-acquisition integration process is generally considered important in achieving organizational objectives (Pablo 1994, Schweiger and Walsh 1990); (3) Culture is found to be a plausible explanation for obstructions in the post-acquisition integration process (Nahavandi and Malekzadeh 1988) It has been argues that culture and strategy are overlapping constructs. Culture in an organizational setting serves two critical functions. It solves both problems of external adaptation (defining objectives) and those of internal integration, namely how opportunities and threats in the environment are dealt with. Social scientists have defined culture in a myriad of ways. â€Å"Culture gives you a set of codes to deal with phenomena in a social environment† Impact of Culture on the Post-Acquisition Integration Process In value-creating MA, post-acquisition integration is the vehicle to transfer competencies and to share knowledge and skills between organizations. Though cultural diversity offers the opportunity to use the competencies and knowledge contained in each organization to the benefit of the combined company, clashing cultures throughout the corporate structure are found to poison an integration process and subsequently prevent synergy from being achieved. Two phenomena have made culture harder to come to terms within present-day MA. The first is the growing number of cross-border, cross business (e.g. retail and investment banking), and cross-industry (e.g. banking and insurance) MA. Not only do employees have different norms, values, and attitudes, they filter the environment and acts of others through the lenses of their own experience. Cross-border MA are even less likely to succeed than within country MA: accommodating both national and organizational cultures results in â€Å"doubl e layered acculturation†. The second phenomenon is the growing importance of human capital, the primary â€Å"raw material† of the service industry. In providing a service there is both a high â€Å"personal† factor and a high level of interaction. In such an environment, the acquired business’ resentment over loss of autonomy and its subsequent resistance to change are detrimental to achieving organizational objectives. Assimilating the staff of merging or acquired companies is a matter of strategic importance in the realization of synergies.   Failure to integrate cultures makes for an organizational void soon filled with dilemmas and conflicts, thus making for a situation where culture clashes are unavoidable. Furthermore, caution that culture clashes between members of different sub- cultures will likely evolve from a dormant level to an overt one if business is no longer â€Å"as usual†. Research framework This study diverges from earlier research findings in that obstructions to cooperation are not assumed to stem entirely from formerly independent organizations coming into contact with one another. If culture differences between acquisition partners obstruct post-acquisition integration, then the degree of culture differences between the acquisition partners and the degree of contact between the acquisition partners are of a determining nature. In this study, empirical work was conducted to investigate specifically how organizational and personal uncertainty change individuals’ responses to cultural dimensions relating to goal-directed behaviors. In the specific MA framework for investigation, it is hypothesized that dimensions of culture are affected by perceived uncertainty created by the integration approach implemented, ultimately impacting commitment to organizational goals and strategy realization. It is argued that above a certain level, perceived uncertainty causes a r eaction outside the conscious control of individuals, affecting extra-role behavior, notwithstanding earlier collective programming of the mind. The specific framework for investigation allows for how and why the dimensions of culture moderate the behavioral outcomes of post-acquisition integration and, ultimately, strategy realization for the firm. In order to understand why and how culture contributes to strategy realization, the following hypothesized relationships are tested in a controlled laboratory experiment. Hypotheses The following hypotheses test the perspective that the dimensions of culture are a dynamic contextual dependent variable in the post-acquisition integration process. Null hypothesis 1: Dimensions of culture will not differ between the integration approaches. Null hypothesis 2: The median of the answers given on the same questions in the different integration approaches does not differ between the integration approaches. The acceptance of the null hypotheses would signify that the study provides no evidence to suggest that there is a significant within-person difference on the dimensions of culture under conditions of change. This field study showed that, contrary to expectations, respondents did not find the culture differences problematic and/or affecting the various post-acquisition integration processes. Thus, regardless of the degree to which different cultures came into contact with each other in the different integration approaches, respondents did not object to adapting to the culture of the partner as long as the post-acquisition process was perceived to be fair, honoring employees’ past commitment to organizational goals, and free from opportunistic behavior. In the field study, perceived uncertainty, stemming from organizational change in the integration approaches, was a major issue. Respondents described it impacting the post-acquisition integration process to the extent that it affected commitment to organizational goals and subsequently strategy realization. They considered uncertainty as a processual phenomenon of post-acquisition integration, reflecting both perceived organizational and perceived personal uncertainty. Perceived organizational uncertainty comprises the future of the company, knowing and understanding of what the goals are, the availability of resources to accomplish the goals set, legitimate concern for the protection of value drivers, and the industrial and economic environment in which the organization operates. Perceived personal uncertainty includes among other things, job security, honoring psychological contracts, altered career expectations, job satisfaction, new colleagues, work practices and/or business sys tems, and opportunistic behavior of others. Discussion and Implications The primary theoretical contribution of this study is the establishment of why and how, in the post-acquisition integration process, culture differences impact the realization of strategy. In general, the dimensions of culture as described as influence employees’ participation in bridging the gap between synergy potential and synergy achieved. The dimensions of culture are found to be a moderating variable rather than an independent factor in the post-acquisition integration approach. A within-person change on the dimensions of culture, stemming from a change in the levels of autonomy granted and interdependence required, explains why culture impacts strategy realization. The effects of this within-person change on commitment to organizational goals resolve how culture impacts strategy realization. Culture is found to be a socially constructed variable, which in the post-acquisition integration process is impacted at an individual level, regardless of earlier programming of th e mind. Uncertainty as it is perceived, stemming from organizational change in the post-acquisition integration processes, has an inverse relation to behavior conducive to realization of strategy. The research results contribute to knowledge in the field of strategy, organizational behavior, and social psychology by validating that dependent on context the dimensions of culture become dynamic. Research findings also illustrate that in the post-acquisition integration process perceived uncertainty is a dual construct and a context-dependent process variable. Particular to the field of strategy is that the absence of resistance to neither change nor employees continuing to perform their daily routines is enough of a condition to bridge the gap between synergy potential and synergy achieved. Extra-role behavior is the critical factor in the post-acquisition integration process toward strategy realization. The scale applied in the controlled laboratory experiment, measuring the dimensions of culture, shows the discretionary nature of extra-role behavior. There is practical relevance for business leaders is that it is not necessarily the degree of culture differences between acquisition partners, nor the degree cultures come into contact with each other, nor these culture differences originating cross-business, cross-industry or cross-border that explain the impact of culture on strategy realization. The effect of perceived uncertainty on the post-acquisition integration processes is such that the importance of management action cannot be overstated. The inverse relation between the level of perceived uncertainty and employees’ extra role behavior seriously impacts strategy realization. Any integration approach can show a pattern of high perceived organizational and high perceived personal uncertainty if no clear choices are made or if internal communication is lacking. In the post-acquisition integration approach, business is not as usual and the requirements for strategy realization have not yet crystallized to the extent tha t they can be incorporated in job descriptions, work procedures, structures, and processes. Extra-role behavior to a large extent being discretionary and in the span of control rather than under the control of business leaders is an important finding. The more employees’ activities consist of actions that are non-fragmented, non-routine, and require interaction, the more strategy realization hinges on leadership creating an environment where value can be created. It is not so much that culture differences are incompatible; the effect of perceived uncertainty on extra-role behavior is such that employees throughout the hierarchy do not make the opening moves. The obstruction to cooperation is not so much employee resistance as that there is no platform for transfer of competencies, for sharing of knowledge and skills, or an environment for cooperation. Limitations The sample of the questionnaire is neither random nor has it been possible to test for non-reply. As stated earlier, in management research judgment samples are more common than probability samples. The number of respondents is sufficiently large, and deliberately composed of dissimilar respondents for external validity not to pose a problem. Eight questions following the vignettes are measuring personal behavioral intentions, while two are measuring the behavior of colleagues. Asking direct question reference absenteeism was considered too intrusive to gather answers that were not influenced by considerations of â€Å"social correctness†. The question on cooperation between divisions being smooth was purposely phrased as such cooperation is more of a group effort than that of a solitary individual. In this study, the most widely used analytical tool to establish reliability, Cronbach’s alpha, and the Kaiser–Meyer–Olkin measure to determine sampling adequacy have been used. The use of these mean-based tests on ordinals is considered an acceptable risk as they test the scale applied. They are not used to interpret the controlled laboratory experiment results. Taking into account that the answers following the different vignettes were drawn from a true replicated sample, comparing the results of the reliability tests across the vignettes warrant attention. The application of mean-based statistics to an ordinal scale might not be without penalty or alternatively it might be that environmental contexts affect reliability tests. Further research This study is only the first step toward a better understanding of how and why culture differences impact strategy realization. Research into whether one or some dimensions of culture are clean in their effect while others are more of a moderating nature and/or their interrelation is deemed important. Further analysis of the data is deemed worthwhile but at the moment impaired by the unconventional premise that the difference between a discrete and a continuous solution space is such that it might seriously affect the meaningfulness of analytical statistical results. In this context, it will be a contribution to the management literature to explore whether, and how, historic events influence perceptions of uncertainty in a present situation. And, whether and how, tolerance for absorbing impact within certain boundaries explains differences in the performance of firms. It is expected that current and historic organizational modus operandi and external environmental factors will determ ine these factors in specific change situations. The impact of these on strategy realization in addition to perceived uncertainty stemming from changing levels of autonomy and required amount of interdependence should be taken into account. It was a core premise of the chapter that strategies and their implementation are an integral part of strategy realization. Investigating the generalizability of the research findings to other organizational change efforts might not be without significance in explaining differences in firms’ performance. REFERENCES Haspeslagh, P. and Jemison, D. 1991.   Managing Acquisitions: Creating Value through Corporate Renewal.New York: Free Press. Pablo, A. 1994. Determinants of acquisition integration level: A decision-making perspective.AcademyofManagementJournal, 37(4): 803–36. Nahavandi, A. and Malekzadeh, A. 1988. Acculturation in mergers and acquisitions. Academy of Management Review, 13

Charles Martin in Uganda Case Study Example | Topics and Well Written Essays - 1750 words

Charles Martin in Uganda - Case Study Example Or is it more appropriate to appoint another person in his place? We analyze the case and recommend that Green should retain Martin because of his knowledge of the local business conditions. He has developed a good network with key people in the Government. Besides he would be able to induct any new entrants who may be deputed by HG into the Ugandan project. However, we need to issue a cautionary note to Martin. He should be immediately asked to refrain from all unethical practices and he needs to report any unfair demands directly to Green so that the issues can be tackled with due regard to the cultural sensitivity. Additionally, Martin needs to develop the role of a functional manager who can cross fertilize ideas and transplant best practices from the host nation to the local country. Introduction The case discusses the cultural issues that Hydro Generation (HG) has faced in Uganda and the decision point faced by the vice-president Green. Martin as the liaison officer for HG has proved to be extremely capable and has completed all the tasks on time. At this juncture, Green ponders over some of the methods adopted by Martin. While some of them seem to go against the stronger views held by American companies, some of the approaches seem to be completely unethical and unfair. Under these circumstances, Green needs to decide on the next crucial phase of the project: should he continue to retain Martin as the chief liaison officer overseeing the entire project? Case Analysis Question 1 has to do with an understanding of cultural aspects of doing business in Uganda. We have insights from the case here. Uganda has largely been a developing nation thus far with the progress not percolating down to the lower strata of society. It has not had a stable government though Multinational companies and their operations are well encouraged. Some of the cultural aspects points to a backward, superstitious nature wherein tribal sacrifices and soothsayers seem to hold sway ove r cold logic and reasoning. Culture could be defined as a system of knowledge and standards adopted for perceiving, believing, evaluating and acting (Allaire & Firsirotu, 1984). Culture is a system of socially transmitted patterns of behavior that helps people relate to their environment. It develops gradually over time and is often influenced by social and economic progress also. A simpler definition has been put forward by Hofstede (1984) who described it as a collective programming of the mind that helps distinguish one category of people from another. From the case, we also observe certain patterns of Ugandan society. They tend to favor nepotism and are largely driven by a commitment to their family and kin. A stronger bonding and accountability towards the social circle seems to take precedence over business commitments. Both attributes could affect the operations of a multinational company interested in doing business in Uganda. Firstly, superstitious beliefs could hamper usua l logical decisions that rely on business judgment and analytical outcomes. Obviously, multinational companies would be driven by logic and rationale. They would be offended if superstitious beliefs posed hurdles to business commitments and operations. Martin has however tried to blend in with the locals by adopting their cultural practices and participating in their rituals. This makes a strong point in his favor for he has understood the cultural diversity and sensitivity (Trompenaars,

The Usefulness of Marketing for Media and Entertainment Companies such Essay

The Usefulness of Marketing for Media and Entertainment Companies such as Disney - Essay Example Another marketing strategy that entertainment companies have resulted to is using electronic advertising in animated billboards. An example is Sony which has chosen to advertising in the ever busy New York’s Times Square where it is sure to attract millions of consumers. This marketing strategy has ensured that all the people using Times Square on a daily basis will have the opportunity to experience the advertisement and long to have the Sony phone which means that the sales of the Sony products and hence continue growing the company (Beattie, 2013). Lastly the media and entertainment industries should embrace using social media to advertise. They can advertise their upcoming movies and programs or premier events on their social media pages as a way to notify many people as well as market their products to their consumers to purchase. This marketing strategy has been used by other industries including the airplane companies and the results have been evident in the increase in client base as well as ensuring consumer satisfaction (Vorvoreanu, et al. 2013). Media industry as well as the entertainment industry in general has been experiencing competition in the recent past and marketing is one of the ways to ensure they have gained competitive advantage in the busy industry. Marketing will provide a niche for the company that will decide to spend more in their marketing (Haupeet, 2012). Marketing is also essential because entertainment forms keeps on changing as technology changes. In order to ensure that people are keeping up with these changes and they embrace it as it comes, marketing is the best strategy to do this. If the marketing strategy used will be able to reach many people at once, it then means that these people will also be kept abreast with the changes and will embrace them without much criticism to go with it (Anderson, 2007). The other importance of marketing strategy for the media and entertainment industries is to encourage

ORGANISATIONAL CHANGE AND ANALYSIS Essay Example | Topics and Well Written Essays - 3000 words

ORGANISATIONAL CHANGE AND ANALYSIS - Essay Example The 21st century has seen the emergence of adaptive organization styles to cope with these increasingly evolving changes in the economic, technological and social-cultural environment. This has had an impact on the traditional organization structure from the previous bureaucratic to today’s emerging post-bureaucratic or otherwise known as network model of organization. A closer look at today’s organizations will show that both the human and structural components have been on a constant change path (Casey 2002). Casey (2002) further observes that today’s organization has faced some form of revolution that has been created by the ever increasing quest for modernity. The issue that arises in this observation is, therefore, what are the causes of such changes and to what extent the present corporate organizations have embraced the change or shown the signs for those changes. This paper therefore examines the various factors that have led to the shift from the bureauc ratic style to that of post-modernism or network model of organization by looking at structures and the human factors. It also tries to ascertain the extent to which today’s organizations have embraced these changes. ... To begin, the revolution of the information and communication technology has been a major influencing factor in the way organizations have been operational. Processes, functions and the general environment of operations in organizations have changed and corporations have felt this change in a massive way. Organizations have encountered and experienced surprising changes in the twenty first century more than that of the industrial revolution (Castells 2011). Decisions are today made more promptly because top management have shed off some of their decision making responsibilities with the emergence of new technology or computer information systems such as decision support systems. They have improved accuracy and the time taken to make decisions and they have facilitated involvement of many people as opposed to the previous bureaucratic style where lower cadre employees had to wait several days for final decisions to be made (Heyderbrand 1989). Information technology has also effectivel y improved the way feedback is sought from the top management. For instance, today you do not have to book an appointment to meet the manager; instead you could just send him or her an email and you will be sure that there will be response soonest they access their mails. Another influence that technology has brought into organizations is the rise of professional workers who are more independent in thinking and decision making and the reduction of manual workers who depend on supervision and orders for them to perform their tasks appropriately (Frenkel 1999). This has in turn reduced bureaucratic tendencies of relying on orders and waiting for instructions from the top organs as will be further seen in this discussion. To plainly relay the

Market Trends Analysis of Indian Oil and Gas Industry

Market Trends Analysis of Indian Oil and Gas Industry OBJECTIVE OF THE STUDY This study provides an insight into the oil and gas industry. Analyze market trends for oil and gas industry in the global arena. To understand financial performance and financial position of oil and natural gas companies like ONGC, Petro china, Chevron and Exxon Mobil. To analyse the financial statements of 2009-2010, so as to understand about the key factors like Profitability and Solvency for decision making and ultimate business solvency. To find out the ratios of the company and carry out a comparative study. To understand the current position of these companies. To analyze the Indian oil market. To see the international scenario. To analyze the oil prices in India and other countries. BROAD APPROACH AND METHODOLOGY Type The study carried out will be more like a Descriptive Research. For analyzing the financial statement, methodology to be used is financial ratio analysis and comparative study. Purpose The study mainly focuses on giving knowledge about the importance of annual reports. Data collection The data collection has been made in two ways: Primary source: Data has been collected with the help of constant interaction with my mentor Ms. Uma Rajamani Manager (FA). Secondary source: Data has been collected with the help of : Annual report of ONGC. ONGC reports. Internet. This source helped me in collecting information about the company as a whole, financial performance. Before making use of secondary data both the data and its source were evaluated. Particular attention was paid to definitions used, measurement error, source bias, reliability and the time span of the secondary data. HIGHLIGHTS OF THE INDIAN OIL AND NATURAL GAS SECTOR HIGHLIGHTS IN THE PETROLEUM NATURAL GAS SECTOR DURING 2009-10 India has total reserves (proved indicated) of 1201 million metric tonnes of crude oiland1437 billion cubic metres of natural gas as on 1.4.2010. The total number of exploratory and development wells and metreage drilled in onshoreand offshore areas during 2009-10 was 428 and 1019 thousand metres respectively. Crude oil production during 2009-10 at 33.69 million metric tonnes is 0.55% higher than33.51 million metric tonnes produced during 2008-09. Gross Production of Natural Gas in the country at 47.51 billion cubic metres during 2009-10 is 44.63% higher than the production of 32.85 billion cubic metres during 2008-09. The production of Natural Gas at 44.94% and 0.08% of the total were highest and lowestin JVC/Private and West Bengal respectively during 2009-10. The flaring of Natural Gas in 2009-10 at 2.09% of gross production is lower than at 3.29% in 2008-09. The refining capacity in the country increased to 184.386 million tonnes per annum(MTPA) as on 1.4.2010 from 177.968 MTPA as on 1.4.2009. The total refinery crude throughput during 2009-10 at 160.03 million metric tonnes is0.46% lower than 160.77 million metric tonnes crude processed in 2008-09 and the prorate capacity utilisation in 2009-10 was 89.92% as compared to 107.43% in 2008-09. The production of petroleum products during 2009-10 was 151.898 million metric tones (including 2.244 million metric tonnes of LPG production from natural gas) registering adecrease of 0.51% over last years production at 152.678 million metric tonnes (including2.162 million metric tonnes of LPG production from natural gas). The country exported 50.974 million metric tonnes of petroleum products against theimports of 23.49 million metric tonnes (including 8.828 million metric tonnes of LNG) during 2009-10. The consumption of petroleum products during 2009-10 were 138.196 million metrictonnes (including sales through private imports) which is 3.60% higher than the sales of133.400 million metric tonnes during 2008-09. The total number of retail outlets of Public Sector Oil Marketing Companies as on1.4.2010 has gone upto 36462 from 34948 on 1.4.2009. The total number of LPG consumers of Public Sector Oil Marketing Companies as on1.4.2010 were 114.952 million against 105.632 million as on 1.4.2009. The number of persons employed (including contract employees) in petroleum industryas on 1.04.2010 and 1.04.2009 are 129988 138973 respectively. OIL INDUSTRY INTRODUCTION TO THE OIL INDUSTRY Energy in all its forms is critical to economic growth, development, and social welfare. The worlds need for reliable and affordable energy supplies is growing. Energy is a critical input for economic growth and its availability determines the quality of both, the national economy and the life of citizens. Sustainable economic progress hinges crucially around the supply of stable and competitively priced energy. Oil is a fungible, international commodity whose ownership and ultimate destination is determined by market forces once it leaves the producing country. No country can effectively isolate itself from changes elsewhere in the market, nor is it likely that any nation can take actions that do not indirectly affect other nations. Petroleum or crude oil is a naturally occurring, flammable liquid consisting of a complex mixture. OIL industry is considered to be the back bone of an economy because this is the main source of energy till date. Any economy around the world would fail to precede a single step in the absence of petroleum industry. Thus, before using this energy source, the crude petroleum is required to be refined in the petroleum refineries for extracting various fractions for energy generation namely, petrol, natural gas, kerosene, asphalt and many more. The processes that are involved in the petroleum industry are: Drilling at the site of petroleum for making well so that the crude oil could be extracted. Refining of the crude oil Storing of the extracted oil in a secured place. Transportation of the stored crude oil is required to be done to the different refineries. Processing of the crude oil needs to be done in the processing units of refineries for converting it into usable fuel form along with the other important derivative products. Core activities of oil and natural gas sector Exploration and Production India is heavily import dependent for its oil and gas requirements. Our total imports of crude oiland petroleum products in the year 2008-09 amounted to 146.441 million metric tones (MMT), worth about Rs. 4,01,631 crore. The country also exported petroleum products amounting to 36.414 MMT, earning foreign exchange worth nearly Rs. 1,15,987 crore. The gap between demand and availability of crude oil from indigenous sources is likely to increase over the years. In case of gas, this gap is expected to decrease with production of gas from KG basin. The growing gap in demand and supply of oil and the shortfall in supply of gas requires greater emphasis to be placed on exploration and production. Objectives of Exploration and Production activities To undertake a complete appraisal of the Indian Sedimentary basin area for tapping thehydrocarbon potential. To optimize production of crude oil and natural gas in the most efficient manner. To keep pace with the technological advancements and remain at the technological forefront in the global exploration and production industry. To achieve a near zero impact on environment. Refining and Marketing The development of refining and marketing activities is crucial for achieving self sufficiency inpetroleum products and in moving towards a competitive and consumer oriented market. Objective of Refining and Marketing Activities Maintain self-sufficiency in all petroleum products by appropriate enhancement in refiningcapacities by National Oil Companies private players including international oil companies. Develop export capability in petroleum products so that the refining industry becomes globally competitive and oil security is enhanced. To develop corresponding infrastructure including ports, pipelines and depots, etc. for anefficient oil industry. To make available quality fuels at affordable prices while continuing subsidies for sensitivepetroleum products. To improve consumer services through better retailing practices and competition. Tariff and Pricing A rational tariff and pricing policy is vital to ensure healthy growth of the hydrocarbonsector and to protect the consumers as well. Objectives of Tariff and Pricing Policy To provide incentives for cleaner, greener and quality fuels so as to promote an environment friendly hydrocarbon sector. To balance the need to boost Government revenue with the need to align taxes and duties with Asia- Pacific countries and the prices to international levels. To promote new investments, by ensuring adequate protection to domestic producers The industry is usually divided into three major components: upstream, midstream and downstream. The upstream oil sector is known as exploration and production sector. It includes the searching for potential underground or underwater oil and gas fields, drilling of exploratory wells, and subsequently operating the wells that recover and bring the crude oil. The midstream processes, stores, markets and transports the crude oil. The downstream oil sector is used to refer to the refining of crude oil, selling and distribution. Oil companies measure oil production in the unit of barrels (bbl). Oil Natural Gas Commission was established on 14th August, 1956 as a statutory body under Oil Natural Gas Commission Act (The ONGC Act), for the development of petroleum resources and sale of petroleum products. ONGC was converted into a Public Limited Company under the Companies Act, 1956 and named as â€Å"Oil and Natural Gas Corporation Limited† with effect from 1st February, 1994. The Government disinvested around 10% of the equity shares of ONGC in March 2004 through a public offer in the domestic capital market at Rs. 750 per share. After the above disinvestment, the shareholding of the Government in ONGC came down to around 74.15%. HIGHLIGHTS FOR THE YEAR 2009-10. ONGC has made 15 oil gas discoveries in the areas under its operative control. State-of-the-art technologies inducted in hardware software for seismic data acquisition, processing interpretation, and in well logging. Advanced drilling techniques for sidetracks, multilateral and extended reach wells absorbed and implemented on fast track. Engineering design audit introduced with significant cost savings. ONGC registered its fifth Clean Development Mechanism (CDM) project with the United Nations Framework Convention on Climate Change (UNFCCC) on September 22, 2009. The project, ‘Energy Efficiency of Amine Circulation Pumps at Hazira involves enhancing energy efficiency achieved in the Amine Circulation Pumps of Hazira Plant. The project will fetch an estimated Certified Emission Reduction (CER) of 4043 per year for a period of 10 years. With this, ONGC achieves a total annual CER of about 1.24 lakh. National Safety Awards in Oil Mines Category: ONGC has bagged four National Safety Awards in Oil Mines Category for year 2007. This is fourth consecutive years that ONGC has bagged these awards, instituted by the Ministry of Labour Employment, Government of India to motivate, appreciate and recognize the extraordinary performance in the area of mines safety. These awards were given by the Honble Vice President of India in New Delhi on October 23, 2009. These awards are based on Longest Accident Free Period (LAFP) and Lowest Injury Frequency Rate (LIFR) and were judged by jury of Director General of Mines Safety, Management Representatives and Trade Union Representatives. PCRA Award for Oil and Gas Conservation: ONGC bagged the Best Overall Performance PCRA Award amongst the Upstream Oil Companies for the Oil and Gas Conservation Programmes during the year 2009. The National Stock Exchange of India Ltd, Mumbai The Company has the following ASSETS /PLANTS/ BASINS/ REGIONS : A. ASSETS/ PLANTS: Mumbai High Asset, Mumbai Neelam Heera Asset, Mumbai Bassein Satellite Asset, Mumbai Uran Plant, Uran Hazira Plant, Hazira Ahmedabad Asset, Ahmedabad Ankleshwar Asset, Mehsana Mehsana Asset, Mehsana Rajamundry Asset, Rajamundry Karaikal Asset, Karaikal Assam Asset, Nazira Tripura Asset, Agartala B. BASINS: Western Offshore Basin, Mumbai Western Onshore Basin Vadodara KG Basin, Rajamundry Cauvery Basin , Chennai Assam Assam-Arakan Basin , Jorhat CBM- BPM Basin , Kolkata Frontier Basin , Dehradun C. REGIONS: Mumbai Region, Mumbai Western Region, Baroda Eastern Region, Nazira Southern Region, Chennai Central Region, Kolkata PHYSICAL PERFORMANCE DURING 2008-09 2009-10 FINANCIAL PERFORMANCE DURING 2008-09 2009-10 PROGRESS OF PROJECTS : MAJOR PROJECTS COMPLETED DURING THE YEAR MAJOR PROJECTS APPROVED DURING THE YEAR MAJOR INITIATIVES Strategic goals set for two decades 2001-2020 Doubling Reserve Accretion to 12 Billion MTO+OEG Improving Recovery Factor to the order of 40% Production of 20 MMTPA O+OEG equity oil and gas from acquisitions abroad. Short-term Strategy Time scheduled exploration activities for prospect recognition and drilling. Prioritisation of exploration activities on fast track basis for enhancing reserves accretion. Pre-drill 3D seismic in deepwater and blanket 3D in key growth areas. Knowledge building in new sectors of producing as well as frontier basins. Medium-long-term Strategy Further intensification of exploration in the producing basins to realise the hydrocarbon resources to in-place volume conversion. Exploration spread in non-producing basins and yet to be explored basins to establish their potential and knowledge building. Major shift to deep offshore as the major thrust and contributing sector. Strategic Initiatives Major development projects including IOR/ EOR schemes with an approved cost of Rs. 30,000 crore are under various stages of implementation to enhance crude oil and natural gas production. A new and dedicated business unit viz. Eastern Offshore Asset has been constituted with an aim to put east coast discoveries on a fast track development through an integrated east coast hub. Substantive decentralization of administrative authorities together with delegation of financial authorities carried out to empower the field executives. Induction of new technologies in core areas of EP activities like: Acquisition, processing and interpretation of seismic data Drilling and production technology IT and communication. Materials Management Inventory Management and codification procedure have been implemented and computerized to track and identify the materials efficiently. NON-CONVENTIONAL SOURCES OF ENERGY (i) Wind Power Project: Wind Farm Project of 50 MW at Motisindoli in Kutch district of Gujarat is an initiative of ONGC towards its commitment for environment-friendly and pollution-free energy production. The power generated from this wind power project is being wheeled to 101 locations of ONGCs oil field installations/ offices/ residential quarters in the state of Gujarat. ONGC shall be saving about Rs. 30 crore per year on electricity charges in Gujarat, considering the present purchase price of electricity. (ii) Installations of Solar thermal plants: Solar thermal plants in ONGC guest house, hospital, academy hostel, officers club, central workshop, Baroda and colony are already installed. Initiatives have been taken to install the solar water heating system at other locations of ONGC also. Solar panels were installed at well heads of (Bokaro) Jharkhand. 9600 lakhs per day (LPD) capacity of solar water heating system is added in this year and total capacity installed is 38100 LPD. HEALTH, SAFETY AND ENVIRONMENT (HSE) Environmental initiatives encompassed solid waste, liquid effluent, air emission monitoring mechanism for proactive planning to manage waste through environment-friendly technologies like bio-remediation, reduction and recycling options and environmental reporting based on global reporting initiative principles. Several initiatives of long-term and continuous nature like bio-remediation of oily sludge, effluent management, ISO certification of installations on international benchmark standards, Mangroove and Hingal plantations etc. are also being carried out in ONGC. CONSERVATION OF ENERGY AND PETROLEUM PRODUCTS ONGC is actively pursuing energy conservation measures. The conservation of petroleum products namely HSD, Lube oil and natural gas are important activities. These measures include: Phasing out of old diesel engines more than 15 years old. Awareness campaign on use of bio-diesel as alternate fuel. Use of small DG sets during lean periods in rigs, proper capacity utilization, rationalization and efficiency improvement of equipments, use of energy efficient devices. Substitution of diesel engines with gas engines at installations where gas is available. Increase in lube oil change period resulting in substantial saving. Natural gas flaring has been reduced and the same is being supplied to consumers. Use of small DG sets and waste heat recovery equipment at offshore platforms, rigs, LPG plants at Hazira and Uran. Use of energy efficient equipment and devices such as top drives, linear motion shale shakers, electronic diesel engines, soft start systems and energy efficient lamps etc. Use of gas engines in place of diesel ones for power generation. Thermal energy cost reduction achieved by maintenance of steam traps at processing plants. Conducting energy audit on regular basis and Petroleum Products Conservation Opportunities (PPCOs) are identified. Harnessing solar energy by using solar water heaters/ photo-voltaic panels at various locations. ONGC VIDESH LIMITED (OVL) ONGC Videsh Limited (OVL), a wholly-owned subsidiary of ONGC, was incorporated as Hydrocarbons India Private Limited on 5th March, 1965 with an initial authorised capital of Rs. 5 lakh, for the business of international exploration and production. Its name was changed to ONGC Videsh Limited on 15th June, 1989. The authorised and paid-up share capital of OVL as on 31st March, 2007 was Rs. 1,000 crore. The primary business of the company is to prospect for oil and gas acreages abroad. These include acquisition of oil and gas fields in foreign countries as well as exploration, production, transportation and sale of oil and gas. OVL currently has participation in 39 projects in 15 countries namely, Vietnam (3 projects), Russia (2 projects), Sudan (3 projects), Iran (1 project), Iraq (1 project), Libya (3 projects), Myanmar (5 projects), Syria (2 projects), Egypt (2 projects), Cuba (2 projects), Nigeria Sao Tome Principe JDZ (1 project), Brazil (5 projects), Nigeria (2 projects), Colombia (6 projects), and Venezuela (1 project). OVLs share of crude oil and natural gas production is currently from 9 projects in seven countries, viz., Russia, Sudan, Vietnam, Syria, Colombia, Venezuela and Brazil. OVLs share of crude oil and natural gas production in 2009-10 is expected to be 8.142 Million. Metric Tonne of oil equivalent (MMTOE) including of 2.017 BCM of natural gas. The other 30 projects being implemented by OVL are at various stages of exploration and appraisal. The gross revenue of Rs.13,444 crore is estimated by OVL during the financial year 2009-10 with net profit of Rs.412 crore. Further, OVL is pursuing acquisition of various oil and gas exploration and production opportunities in Russia, Central Asia, Latin America, Africa, and Middle East, which are at different stages. Established as a joint stock company with limited liabilities on November 5,1999, as part of the restructuring of China National Petroleum Corporation (CNPC). It was respectively listed on the NYSE (ADS code: PTR) and the HKSE (stock code: 00857) in April 2000 and on the Shanghai Stock Exchange (stock code:601857) in November 2007. As at end of 2010, CNPC holds 86.292% shares of Petro China. Ranked 7th by Platts in the â€Å"Top 250 Global Energy Companies† published by Platts Energy in 2010, which was the top ranking among enterprises in the Asia Pacific region for eight consecutive years. Included as a constituent stock of the SSE Social Responsibility index and the Hang Seng Corporate Sustainability Index. Adheres to the corporate policy of â€Å"Caring for Energy, Caring for You† and core business management principles of â€Å"Honesty, Innovation, Performance, Harmony and Safety†. Perseveres in carrying out business in a more effective, safe and environmentally friendly manner; pursues the balance among the economy, environment and society; provides sustainable energy for economic and social development; and creates a better life for people. CORE BUSINESSES Engaged in a broad range of businesses related to oil and natural gas, which mainly include the exploration, development and production of crude oil and natural gas, the refining, transportation, storage and marketing of crude oil and refined products, the production and marketing of primary petrochemical products, their derivatives and other chemicals, and the transportation and marketing of natural gas. Chevron is an American multinationalenergycorporation. Headquartered inSan Ramon, California, and active in more than 180 countries. It is engaged in every aspect of theoil,gas, andgeothermalenergy industries, includingexplorationandproduction, refining, marketing and transport; chemicals manufacturing and sales; andpower generation. Chevron is one of the worlds six super major oil companies. For the past five years, Chevron has been continuously ranked as one of Americas 5 largest corporations byFortune 500. Market Trends Analysis of Indian Oil and Gas Industry Market Trends Analysis of Indian Oil and Gas Industry OBJECTIVE OF THE STUDY This study provides an insight into the oil and gas industry. Analyze market trends for oil and gas industry in the global arena. To understand financial performance and financial position of oil and natural gas companies like ONGC, Petro china, Chevron and Exxon Mobil. To analyse the financial statements of 2009-2010, so as to understand about the key factors like Profitability and Solvency for decision making and ultimate business solvency. To find out the ratios of the company and carry out a comparative study. To understand the current position of these companies. To analyze the Indian oil market. To see the international scenario. To analyze the oil prices in India and other countries. BROAD APPROACH AND METHODOLOGY Type The study carried out will be more like a Descriptive Research. For analyzing the financial statement, methodology to be used is financial ratio analysis and comparative study. Purpose The study mainly focuses on giving knowledge about the importance of annual reports. Data collection The data collection has been made in two ways: Primary source: Data has been collected with the help of constant interaction with my mentor Ms. Uma Rajamani Manager (FA). Secondary source: Data has been collected with the help of : Annual report of ONGC. ONGC reports. Internet. This source helped me in collecting information about the company as a whole, financial performance. Before making use of secondary data both the data and its source were evaluated. Particular attention was paid to definitions used, measurement error, source bias, reliability and the time span of the secondary data. HIGHLIGHTS OF THE INDIAN OIL AND NATURAL GAS SECTOR HIGHLIGHTS IN THE PETROLEUM NATURAL GAS SECTOR DURING 2009-10 India has total reserves (proved indicated) of 1201 million metric tonnes of crude oiland1437 billion cubic metres of natural gas as on 1.4.2010. The total number of exploratory and development wells and metreage drilled in onshoreand offshore areas during 2009-10 was 428 and 1019 thousand metres respectively. Crude oil production during 2009-10 at 33.69 million metric tonnes is 0.55% higher than33.51 million metric tonnes produced during 2008-09. Gross Production of Natural Gas in the country at 47.51 billion cubic metres during 2009-10 is 44.63% higher than the production of 32.85 billion cubic metres during 2008-09. The production of Natural Gas at 44.94% and 0.08% of the total were highest and lowestin JVC/Private and West Bengal respectively during 2009-10. The flaring of Natural Gas in 2009-10 at 2.09% of gross production is lower than at 3.29% in 2008-09. The refining capacity in the country increased to 184.386 million tonnes per annum(MTPA) as on 1.4.2010 from 177.968 MTPA as on 1.4.2009. The total refinery crude throughput during 2009-10 at 160.03 million metric tonnes is0.46% lower than 160.77 million metric tonnes crude processed in 2008-09 and the prorate capacity utilisation in 2009-10 was 89.92% as compared to 107.43% in 2008-09. The production of petroleum products during 2009-10 was 151.898 million metric tones (including 2.244 million metric tonnes of LPG production from natural gas) registering adecrease of 0.51% over last years production at 152.678 million metric tonnes (including2.162 million metric tonnes of LPG production from natural gas). The country exported 50.974 million metric tonnes of petroleum products against theimports of 23.49 million metric tonnes (including 8.828 million metric tonnes of LNG) during 2009-10. The consumption of petroleum products during 2009-10 were 138.196 million metrictonnes (including sales through private imports) which is 3.60% higher than the sales of133.400 million metric tonnes during 2008-09. The total number of retail outlets of Public Sector Oil Marketing Companies as on1.4.2010 has gone upto 36462 from 34948 on 1.4.2009. The total number of LPG consumers of Public Sector Oil Marketing Companies as on1.4.2010 were 114.952 million against 105.632 million as on 1.4.2009. The number of persons employed (including contract employees) in petroleum industryas on 1.04.2010 and 1.04.2009 are 129988 138973 respectively. OIL INDUSTRY INTRODUCTION TO THE OIL INDUSTRY Energy in all its forms is critical to economic growth, development, and social welfare. The worlds need for reliable and affordable energy supplies is growing. Energy is a critical input for economic growth and its availability determines the quality of both, the national economy and the life of citizens. Sustainable economic progress hinges crucially around the supply of stable and competitively priced energy. Oil is a fungible, international commodity whose ownership and ultimate destination is determined by market forces once it leaves the producing country. No country can effectively isolate itself from changes elsewhere in the market, nor is it likely that any nation can take actions that do not indirectly affect other nations. Petroleum or crude oil is a naturally occurring, flammable liquid consisting of a complex mixture. OIL industry is considered to be the back bone of an economy because this is the main source of energy till date. Any economy around the world would fail to precede a single step in the absence of petroleum industry. Thus, before using this energy source, the crude petroleum is required to be refined in the petroleum refineries for extracting various fractions for energy generation namely, petrol, natural gas, kerosene, asphalt and many more. The processes that are involved in the petroleum industry are: Drilling at the site of petroleum for making well so that the crude oil could be extracted. Refining of the crude oil Storing of the extracted oil in a secured place. Transportation of the stored crude oil is required to be done to the different refineries. Processing of the crude oil needs to be done in the processing units of refineries for converting it into usable fuel form along with the other important derivative products. Core activities of oil and natural gas sector Exploration and Production India is heavily import dependent for its oil and gas requirements. Our total imports of crude oiland petroleum products in the year 2008-09 amounted to 146.441 million metric tones (MMT), worth about Rs. 4,01,631 crore. The country also exported petroleum products amounting to 36.414 MMT, earning foreign exchange worth nearly Rs. 1,15,987 crore. The gap between demand and availability of crude oil from indigenous sources is likely to increase over the years. In case of gas, this gap is expected to decrease with production of gas from KG basin. The growing gap in demand and supply of oil and the shortfall in supply of gas requires greater emphasis to be placed on exploration and production. Objectives of Exploration and Production activities To undertake a complete appraisal of the Indian Sedimentary basin area for tapping thehydrocarbon potential. To optimize production of crude oil and natural gas in the most efficient manner. To keep pace with the technological advancements and remain at the technological forefront in the global exploration and production industry. To achieve a near zero impact on environment. Refining and Marketing The development of refining and marketing activities is crucial for achieving self sufficiency inpetroleum products and in moving towards a competitive and consumer oriented market. Objective of Refining and Marketing Activities Maintain self-sufficiency in all petroleum products by appropriate enhancement in refiningcapacities by National Oil Companies private players including international oil companies. Develop export capability in petroleum products so that the refining industry becomes globally competitive and oil security is enhanced. To develop corresponding infrastructure including ports, pipelines and depots, etc. for anefficient oil industry. To make available quality fuels at affordable prices while continuing subsidies for sensitivepetroleum products. To improve consumer services through better retailing practices and competition. Tariff and Pricing A rational tariff and pricing policy is vital to ensure healthy growth of the hydrocarbonsector and to protect the consumers as well. Objectives of Tariff and Pricing Policy To provide incentives for cleaner, greener and quality fuels so as to promote an environment friendly hydrocarbon sector. To balance the need to boost Government revenue with the need to align taxes and duties with Asia- Pacific countries and the prices to international levels. To promote new investments, by ensuring adequate protection to domestic producers The industry is usually divided into three major components: upstream, midstream and downstream. The upstream oil sector is known as exploration and production sector. It includes the searching for potential underground or underwater oil and gas fields, drilling of exploratory wells, and subsequently operating the wells that recover and bring the crude oil. The midstream processes, stores, markets and transports the crude oil. The downstream oil sector is used to refer to the refining of crude oil, selling and distribution. Oil companies measure oil production in the unit of barrels (bbl). Oil Natural Gas Commission was established on 14th August, 1956 as a statutory body under Oil Natural Gas Commission Act (The ONGC Act), for the development of petroleum resources and sale of petroleum products. ONGC was converted into a Public Limited Company under the Companies Act, 1956 and named as â€Å"Oil and Natural Gas Corporation Limited† with effect from 1st February, 1994. The Government disinvested around 10% of the equity shares of ONGC in March 2004 through a public offer in the domestic capital market at Rs. 750 per share. After the above disinvestment, the shareholding of the Government in ONGC came down to around 74.15%. HIGHLIGHTS FOR THE YEAR 2009-10. ONGC has made 15 oil gas discoveries in the areas under its operative control. State-of-the-art technologies inducted in hardware software for seismic data acquisition, processing interpretation, and in well logging. Advanced drilling techniques for sidetracks, multilateral and extended reach wells absorbed and implemented on fast track. Engineering design audit introduced with significant cost savings. ONGC registered its fifth Clean Development Mechanism (CDM) project with the United Nations Framework Convention on Climate Change (UNFCCC) on September 22, 2009. The project, ‘Energy Efficiency of Amine Circulation Pumps at Hazira involves enhancing energy efficiency achieved in the Amine Circulation Pumps of Hazira Plant. The project will fetch an estimated Certified Emission Reduction (CER) of 4043 per year for a period of 10 years. With this, ONGC achieves a total annual CER of about 1.24 lakh. National Safety Awards in Oil Mines Category: ONGC has bagged four National Safety Awards in Oil Mines Category for year 2007. This is fourth consecutive years that ONGC has bagged these awards, instituted by the Ministry of Labour Employment, Government of India to motivate, appreciate and recognize the extraordinary performance in the area of mines safety. These awards were given by the Honble Vice President of India in New Delhi on October 23, 2009. These awards are based on Longest Accident Free Period (LAFP) and Lowest Injury Frequency Rate (LIFR) and were judged by jury of Director General of Mines Safety, Management Representatives and Trade Union Representatives. PCRA Award for Oil and Gas Conservation: ONGC bagged the Best Overall Performance PCRA Award amongst the Upstream Oil Companies for the Oil and Gas Conservation Programmes during the year 2009. The National Stock Exchange of India Ltd, Mumbai The Company has the following ASSETS /PLANTS/ BASINS/ REGIONS : A. ASSETS/ PLANTS: Mumbai High Asset, Mumbai Neelam Heera Asset, Mumbai Bassein Satellite Asset, Mumbai Uran Plant, Uran Hazira Plant, Hazira Ahmedabad Asset, Ahmedabad Ankleshwar Asset, Mehsana Mehsana Asset, Mehsana Rajamundry Asset, Rajamundry Karaikal Asset, Karaikal Assam Asset, Nazira Tripura Asset, Agartala B. BASINS: Western Offshore Basin, Mumbai Western Onshore Basin Vadodara KG Basin, Rajamundry Cauvery Basin , Chennai Assam Assam-Arakan Basin , Jorhat CBM- BPM Basin , Kolkata Frontier Basin , Dehradun C. REGIONS: Mumbai Region, Mumbai Western Region, Baroda Eastern Region, Nazira Southern Region, Chennai Central Region, Kolkata PHYSICAL PERFORMANCE DURING 2008-09 2009-10 FINANCIAL PERFORMANCE DURING 2008-09 2009-10 PROGRESS OF PROJECTS : MAJOR PROJECTS COMPLETED DURING THE YEAR MAJOR PROJECTS APPROVED DURING THE YEAR MAJOR INITIATIVES Strategic goals set for two decades 2001-2020 Doubling Reserve Accretion to 12 Billion MTO+OEG Improving Recovery Factor to the order of 40% Production of 20 MMTPA O+OEG equity oil and gas from acquisitions abroad. Short-term Strategy Time scheduled exploration activities for prospect recognition and drilling. Prioritisation of exploration activities on fast track basis for enhancing reserves accretion. Pre-drill 3D seismic in deepwater and blanket 3D in key growth areas. Knowledge building in new sectors of producing as well as frontier basins. Medium-long-term Strategy Further intensification of exploration in the producing basins to realise the hydrocarbon resources to in-place volume conversion. Exploration spread in non-producing basins and yet to be explored basins to establish their potential and knowledge building. Major shift to deep offshore as the major thrust and contributing sector. Strategic Initiatives Major development projects including IOR/ EOR schemes with an approved cost of Rs. 30,000 crore are under various stages of implementation to enhance crude oil and natural gas production. A new and dedicated business unit viz. Eastern Offshore Asset has been constituted with an aim to put east coast discoveries on a fast track development through an integrated east coast hub. Substantive decentralization of administrative authorities together with delegation of financial authorities carried out to empower the field executives. Induction of new technologies in core areas of EP activities like: Acquisition, processing and interpretation of seismic data Drilling and production technology IT and communication. Materials Management Inventory Management and codification procedure have been implemented and computerized to track and identify the materials efficiently. NON-CONVENTIONAL SOURCES OF ENERGY (i) Wind Power Project: Wind Farm Project of 50 MW at Motisindoli in Kutch district of Gujarat is an initiative of ONGC towards its commitment for environment-friendly and pollution-free energy production. The power generated from this wind power project is being wheeled to 101 locations of ONGCs oil field installations/ offices/ residential quarters in the state of Gujarat. ONGC shall be saving about Rs. 30 crore per year on electricity charges in Gujarat, considering the present purchase price of electricity. (ii) Installations of Solar thermal plants: Solar thermal plants in ONGC guest house, hospital, academy hostel, officers club, central workshop, Baroda and colony are already installed. Initiatives have been taken to install the solar water heating system at other locations of ONGC also. Solar panels were installed at well heads of (Bokaro) Jharkhand. 9600 lakhs per day (LPD) capacity of solar water heating system is added in this year and total capacity installed is 38100 LPD. HEALTH, SAFETY AND ENVIRONMENT (HSE) Environmental initiatives encompassed solid waste, liquid effluent, air emission monitoring mechanism for proactive planning to manage waste through environment-friendly technologies like bio-remediation, reduction and recycling options and environmental reporting based on global reporting initiative principles. Several initiatives of long-term and continuous nature like bio-remediation of oily sludge, effluent management, ISO certification of installations on international benchmark standards, Mangroove and Hingal plantations etc. are also being carried out in ONGC. CONSERVATION OF ENERGY AND PETROLEUM PRODUCTS ONGC is actively pursuing energy conservation measures. The conservation of petroleum products namely HSD, Lube oil and natural gas are important activities. These measures include: Phasing out of old diesel engines more than 15 years old. Awareness campaign on use of bio-diesel as alternate fuel. Use of small DG sets during lean periods in rigs, proper capacity utilization, rationalization and efficiency improvement of equipments, use of energy efficient devices. Substitution of diesel engines with gas engines at installations where gas is available. Increase in lube oil change period resulting in substantial saving. Natural gas flaring has been reduced and the same is being supplied to consumers. Use of small DG sets and waste heat recovery equipment at offshore platforms, rigs, LPG plants at Hazira and Uran. Use of energy efficient equipment and devices such as top drives, linear motion shale shakers, electronic diesel engines, soft start systems and energy efficient lamps etc. Use of gas engines in place of diesel ones for power generation. Thermal energy cost reduction achieved by maintenance of steam traps at processing plants. Conducting energy audit on regular basis and Petroleum Products Conservation Opportunities (PPCOs) are identified. Harnessing solar energy by using solar water heaters/ photo-voltaic panels at various locations. ONGC VIDESH LIMITED (OVL) ONGC Videsh Limited (OVL), a wholly-owned subsidiary of ONGC, was incorporated as Hydrocarbons India Private Limited on 5th March, 1965 with an initial authorised capital of Rs. 5 lakh, for the business of international exploration and production. Its name was changed to ONGC Videsh Limited on 15th June, 1989. The authorised and paid-up share capital of OVL as on 31st March, 2007 was Rs. 1,000 crore. The primary business of the company is to prospect for oil and gas acreages abroad. These include acquisition of oil and gas fields in foreign countries as well as exploration, production, transportation and sale of oil and gas. OVL currently has participation in 39 projects in 15 countries namely, Vietnam (3 projects), Russia (2 projects), Sudan (3 projects), Iran (1 project), Iraq (1 project), Libya (3 projects), Myanmar (5 projects), Syria (2 projects), Egypt (2 projects), Cuba (2 projects), Nigeria Sao Tome Principe JDZ (1 project), Brazil (5 projects), Nigeria (2 projects), Colombia (6 projects), and Venezuela (1 project). OVLs share of crude oil and natural gas production is currently from 9 projects in seven countries, viz., Russia, Sudan, Vietnam, Syria, Colombia, Venezuela and Brazil. OVLs share of crude oil and natural gas production in 2009-10 is expected to be 8.142 Million. Metric Tonne of oil equivalent (MMTOE) including of 2.017 BCM of natural gas. The other 30 projects being implemented by OVL are at various stages of exploration and appraisal. The gross revenue of Rs.13,444 crore is estimated by OVL during the financial year 2009-10 with net profit of Rs.412 crore. Further, OVL is pursuing acquisition of various oil and gas exploration and production opportunities in Russia, Central Asia, Latin America, Africa, and Middle East, which are at different stages. Established as a joint stock company with limited liabilities on November 5,1999, as part of the restructuring of China National Petroleum Corporation (CNPC). It was respectively listed on the NYSE (ADS code: PTR) and the HKSE (stock code: 00857) in April 2000 and on the Shanghai Stock Exchange (stock code:601857) in November 2007. As at end of 2010, CNPC holds 86.292% shares of Petro China. Ranked 7th by Platts in the â€Å"Top 250 Global Energy Companies† published by Platts Energy in 2010, which was the top ranking among enterprises in the Asia Pacific region for eight consecutive years. Included as a constituent stock of the SSE Social Responsibility index and the Hang Seng Corporate Sustainability Index. Adheres to the corporate policy of â€Å"Caring for Energy, Caring for You† and core business management principles of â€Å"Honesty, Innovation, Performance, Harmony and Safety†. Perseveres in carrying out business in a more effective, safe and environmentally friendly manner; pursues the balance among the economy, environment and society; provides sustainable energy for economic and social development; and creates a better life for people. CORE BUSINESSES Engaged in a broad range of businesses related to oil and natural gas, which mainly include the exploration, development and production of crude oil and natural gas, the refining, transportation, storage and marketing of crude oil and refined products, the production and marketing of primary petrochemical products, their derivatives and other chemicals, and the transportation and marketing of natural gas. Chevron is an American multinationalenergycorporation. Headquartered inSan Ramon, California, and active in more than 180 countries. It is engaged in every aspect of theoil,gas, andgeothermalenergy industries, includingexplorationandproduction, refining, marketing and transport; chemicals manufacturing and sales; andpower generation. Chevron is one of the worlds six super major oil companies. For the past five years, Chevron has been continuously ranked as one of Americas 5 largest corporations byFortune 500.

The Role of Women in Chinua Achebes Things Fall Apart Essay -- Things

More than those of any other African writer, Chinua Achebe’s writings have helped to develop what is known as African literature today. And the single book which has helped him to launch his "revolution" is the classic, Things Fall Apart.   The focus of this essay includes: 1) Achebe's portraiture of women in his fictional universe, the existing sociocultural situation of the period he is depicting, and the factors in it that condition male attitudes towards women; 2) the consequences of the absence of a moderating female principle in his fictions; 3) Achebe's progressively changing attitude towards women s roles; and 4) feminist prospects for African women. In the context of this study, the Igbo people whom Achebe describes will represent the rest of Nigeria -- and a great many of the nations of Africa. Sociocultural Background Were Nigeria and Africa oppressively masculinist? The answer is, "Yes." Ghana was known to have some matrilineal societies, such as the Akans; but Nigeria's traditional culture, Muslim as well as non-Muslim, had been masculine-based even before the advent of the white man. The source, nature, and extent of female subordination and oppression have constituted a vexed problem in African literary debates. Writers such as Ama Ata Aidoo of Ghana and the late Flora Nwapa of Nigeria have insisted that the image of the helpless, dependent, unproductive African woman was one ushered in by European imperialists whose women lived that way. On the other hand, the Nigerian-born, expatriate writer Buchi Emecheta, along with other critics, maintains that African women were traditionally subordinated to sexist cultural mores. I ally myself to the latter camp. I believe that, in creating a masculine-based society, Ac... ...Function of Folk Tradition." Approaches To the African Novel: Essays in Analysis. London: Saros International, 1992. Nwapa, Flora.   Efuru.   London: Heinemann, 1966. ---.   Idu.   London: Heinemann, 1970. Ogunyemi, Chikwenye Okonjo.   "Women and Nigerian Literature." Perspectives on Nigerian Literature. Vol. 1.   Lagos, Nigeria: Guardian Books, 1988. Okonkwo, Juliet.   "The Talented Woman in African Literature." African Quarterly 15.1-2: pages. Rich, Adrienne.   Of Woman Born: Motherhood as Experience and Institution.   New York: Norton, 1976. Thiong o, Ngugi   wa.   Petals of Blood.   London: Heinemann, 1977. ---.   Devil on the Cross.   London: Heinemann, 1982.   Walker, Alice.   "In Search of Our Mothers' Gardens." In Search of Our Mothers   Gardens: Womanist Prose. New York: Harcourt Brace, 1983.   231-243. Weinstock, Donald, and Cathy Ramadan.