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Article
Publication date: 4 August 2021

Yuwei Yin and Jasmine Siu Lee Lam

This study aims at investigating how energy strategies of China impact its energy shipping import through a strategic maritime link, the Straits of Malacca and Singapore (SOMS).

Abstract

Purpose

This study aims at investigating how energy strategies of China impact its energy shipping import through a strategic maritime link, the Straits of Malacca and Singapore (SOMS).

Design/methodology/approach

Vector error-correction modelling (VECM) is applied to examine the key energy strategies of China influencing crude oil and liquefied natural gas (LNG) shipping import via the SOMS. Strategies investigated include oil storage expansions, government-setting targets to motivate domestic gas production, pipeline projects to diversify natural gas import routes and commercial strategies to ensure oil and gas accessibility and cost-effectiveness.

Findings

For the crude oil sector, building up oil storage and diversifying oil import means, routes and sources were found effective to mitigate impacts of consumption surges and price shocks. For the LNG sector, domestic production expansion effectively reduces LNG import. However, pipeline gas import growth is inefficient to relieve LNG shipping import dependency. Furthermore, energy companies have limited flexibility to adjust LNG shipping import volumes via the SOMS even under increased import prices and transport costs.

Practical implications

As the natural gas demand of China continues expanding, utilisation rates of existing pipeline networks need to be enhanced. Besides, domestic production expansion and diversification of LNG import sources and means are crucial.

Originality/value

This study is among the first in the literature using a quantitative approach to investigate how energy strategies implemented in a nation impact its energy shipping volumes via the SOMS, which is one of the most important maritime links that support 40% of the global trades.

Details

Maritime Business Review, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2397-3757

Keywords

Content available
Article
Publication date: 4 August 2021

Pg Mohd Faezul Fikri Ag Omar, Haneffa Muchlis Gazali, Mohd. Nasir Samsulbahri, Nurul Izzati Abd Razak and Norhamiza Ishak

The purpose of this paper is to deliberate on the establishment of zakat (Islamic alms) on oil and gas in Malaysia. Being one of the five Islamic pillars, zakat…

Abstract

Purpose

The purpose of this paper is to deliberate on the establishment of zakat (Islamic alms) on oil and gas in Malaysia. Being one of the five Islamic pillars, zakat contributes significantly to the country’s socio-economic development and prosperity. However, in Malaysia and other Islamic countries, there is not yet a proper mechanism for calculating zakat on extracted minerals. Similar to gold and silver, oil and gas are valuable minerals, which, upon extraction, are subject to zakat payment. In Malaysia, however, this is not the case.

Design/methodology/approach

This study uses a qualitative method. It presents a thorough review on the stipulation for paying zakat on minerals, specifically oil and gas. The deliberation is based on secondary data entailing a comprehensive content analysis of prominent books on the subject, current zakat rulings and legal acts on oil and gas.

Findings

Oil and gas are subject to zakat payment, as indicated in several Qur’anic verses and based on the academic reasoning of Muslim scholars. The zakat calculation for oil and gas entails the nisab (minimum threshold value of the assets) but not the hawl (the requirement for one full Islamic year of ownership for the assets), by analogy with zakat on agricultural produce. Despite the obligation to pay zakat on minerals under the zakat al-mal (alms due on wealth) category, oil and gas is yet to be fully subject to this practice in Malaysia, although the country is known as an oil-producing Muslim country. Several legislative acts covering the managerial and business side of oil and gas operations have long been established, but the provision on zakat remains unclear. Hence, comprehensive legislation is needed to fine-tune the Malaysian oil and gas system, particularly with regard to zakat.

Research limitations/implications

This study relies mainly on secondary data and literature without performing any empirical investigations.

Practical implications

In terms of academic implication, this study enriches the existing body of knowledge on zakat. Practical implications would include enhanced decision-making concerning zakat on oil and gas on the part of zakat institutions, policymakers and the government of Malaysia.

Originality/value

This study provides practical and academic contributions to the deep understanding of zakat on oil and gas, which has received very little attention in the existing body of literature. Despite being limited in literature, this is a breakthrough study that sheds light on zakat on oil and gas.

Details

ISRA International Journal of Islamic Finance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0128-1976

Keywords

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Book part
Publication date: 15 February 2008

William W. Cooper and Piyu Yue

Abstract

Details

Challenges of the Muslim World
Type: Book
ISBN: 978-0-444-53243-5

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Abstract

Details

Energy Economics
Type: Book
ISBN: 978-1-83867-294-2

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Book part
Publication date: 1 January 2004

Robert L. Bradley

A typology of interventionism can categorize regulations, taxes, and subsidies both theoretically and as they sequentially unfold in practice. This typology is inspired…

Abstract

A typology of interventionism can categorize regulations, taxes, and subsidies both theoretically and as they sequentially unfold in practice. This typology is inspired by, but broader than, the Mises interventionist thesis, which, similar to Madison's lament, recognizes the propensity of intervention to expand from its own shortcomings in the elusive quest to achieve economic rationality (Lavoie, 1982, p. 180; Ikeda, 1997, pp. 41–46; Bradley, 2006).

Details

The Dynamics of Intervention: Regulation and Redistribution in the Mixed Economy
Type: Book
ISBN: 978-0-76231-053-1

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Book part
Publication date: 6 September 2010

A. Karen Baptiste and Brenda J. Nordenstam

Purpose – Although research has shown that people in developing countries perceive environmental problems and have high levels of concern for the environment, their…

Abstract

Purpose – Although research has shown that people in developing countries perceive environmental problems and have high levels of concern for the environment, their actions might not always reflect that concern. This study examines how villagers in rural wetland communities in Trinidad and Tobago perceive environmental issues related to oil and gas development that might impact their communities.

Methodology – One hundred and thirty villagers in three communities in and around the Nariva Swamp were interviewed to find out about perceptions of, support for oil and gas drilling policies, or opposition to the development of this resource.

Findings – The study found that respondents living closest to the swamp and those whose livelihoods depended on the wetlands were more likely than other respondents to perceive oil and gas drilling as dangerous and expressed greater opposition to it. Given that direct actions such as protests were not seen among the villagers, an analysis revealed that there are a number of indirect environmental actions that contribute to the protection of the Nariva Swamp. Villagers were seen as having pro-environmental actions such as sustainable farming and fishing practices, carpooling and nongovernmental activity.

Originality/value of paper – This study adds to the body of environmental research in the Caribbean particularly providing an understanding about rural people's perceptions of environmental issues.

Details

Environment and Social Justice: An International Perspective
Type: Book
ISBN: 978-0-85724-183-2

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Article
Publication date: 22 October 2018

Abdullah Hamoud Ismail, Azhar Abdul Rahman and Abdulqawi Ahmed Hezabr

This study aims to identify factors that influence corporate environmental disclosure (CED) quality.

Abstract

Purpose

This study aims to identify factors that influence corporate environmental disclosure (CED) quality.

Design/methodology/approach

Using content analysis, an index and scoring scheme were applied to annual reports, stand-alone reports and corporate homepages of a sample of 116 oil and gas companies in 19 developing countries (DCs).

Findings

The results of this study reveal that out of 12 hypothesized variables, only 5 variables (company size, foreign ownership, profitability, leverage and membership of industry’s associations) are positively related to the CED quality.

Practical implications

The study has implications in enhancing the understanding of CED practices by oil and gas companies in DCs and the factors that influence the quality of such disclosure. Thus, the results of the study serve as input toward the development of improved regulations concerning CED for the oil and gas industry and provide guidelines to the regulators to make relevant decisions on social and environmental information items to be incorporated in the regulatory standards.

Originality/value

The current study attempts to fill the gaps in the literature by examining CED quality (rather than its quantity), concentrating on environmental disclosure made on the three main mediums of reporting. The study also extends previous research of CED by investigating some factors that have the potential to influence the content-quality of environmental disclosure, such as type of company (independent or constrain company) and industry’s association membership which have never been examined in the related literature.

Details

International Journal of Ethics and Systems, vol. 34 no. 4
Type: Research Article
ISSN: 0828-8666

Keywords

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Article
Publication date: 3 April 2018

Edward Godfrey Ochieng, Oghenemarho Omaruaye Ovbagbedia, Tarila Zuofa, Raymond Abdulai, Wilfred Matipa, Ximing Ruan and Akunna Oledinma

The purpose of this paper is to examine the efficacy of knowledge management (KM) based systems and best practices that could be used to address operational issues in the…

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Abstract

Purpose

The purpose of this paper is to examine the efficacy of knowledge management (KM) based systems and best practices that could be used to address operational issues in the oil and gas sector.

Design/methodology/approach

Given little was known empirically about the strategies and practices which contribute to improved performance, innovation and continuous improvement in the oil and gas sector qualitative method was used. Semi-structured interviews were used to derive senior managers’ constructs of project delivery efficiency and KM based systems. The interviews were analysed through the use of a qualitative analysis software package NUDIST NVivoTM. Participants were selected using purposive sampling. Validity and reliability were achieved by first assessing the plausibility in terms of already existing knowledge on some of the operational issues raised by participants.

Findings

These were synthesised into a framework capturing seven well-defined stages. All these steps emerged as being related; they are comprised of independent variables. These steps were found to comprise of knowledge management technology approaches, knowledge management people approaches, KM strategies and value enhancing practices.

Research limitations/implications

Although the findings are pertinent to oil and gas organisations, it will be important to conduct follow-up research validating the potential for using the results of this study to establish frameworks for knowledge and information management in different organisations and contexts. This will provide not only data about the validity of the framework in generic terms but will also generate additional data on the application of KM strategy.

Practical implications

As shown in this study, successful KM based systems requires the aligning of business strategy, technology for KM, project management operations with an enterprise knowledge-sharing culture. Such sharing requires managing the behaviour of project personnel such that knowledge transfer becomes part of the organisation’s norm.

Social implications

The implementation of KM based systems requires deliberate planning and action to create the conditions for success and put in place the strategy, leadership, goals, process, skills, systems, issue resolution, and structure to direct and exploit the dynamic nature of project work. The strategies proposed in this research cannot be expected to resolve all KM issues in the oil and gas sector. However, their use defines an approach that is superior to the traditional approaches typically adopted and consequently merits far wider application.

Originality/value

The proposed framework presents a better way of optimising the performance of project-based operations thus enabling oil and gas organisations to reform their poor performance on projects and empower them to better manage emerging cultural challenges in their future projects. Reflecting on their experiences, the participants confirmed that the proposed KM framework and its seven well-defined stages were central to the effectiveness of KM in oil and gas operations. Although the scope of this research was restricted to projects in Nigeria and the UK, the geographical focus of this research does not invalidate these results with respect to other countries. The fact is that the oil and gas sector globally shares some common fundamental characteristics.

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Article
Publication date: 3 April 2007

Jonathan P. Stern

The purpose of this paper is to investigate the continuing justification for linking the prices of European gas to those oil products.

Abstract

Purpose

The purpose of this paper is to investigate the continuing justification for linking the prices of European gas to those oil products.

Design/methodology/approach

The paper uses an analytic‐deductive approach supported by relevant analysis of data over a period of two decades.

Findings

Statistical analysis of the end‐uses of gas and oil products over the past two decades reveal that, with few exceptions, use of oil is increasing confined to transportation while gas is a utility fuel used to generate heat and power. The ability of end‐users to substitute oil products for gas – the principal justification for price linkage – has substantially diminished over the past two decades, and this trend is continuing. The implication of these findings is that nearly 20 percent of Europe's energy supplies are priced inappropriately with reference to a fuel which has little relevance to the supply/demand dynamics of natural gas. At levels of oil prices seen since 2003, this has significantly negative consequences for consumers. An important qualification to these findings is that in markets where prices have been set by gas to gas competition for many years – the UK and North America – a long‐term “natural correlation” between gas and oil prices has been observed.

Originality/value

The paper raises the important question facing European gas stakeholders and asks whether to remain with oil‐linked prices or move to spot market prices created at hubs in North West Europe.

Details

International Journal of Energy Sector Management, vol. 1 no. 3
Type: Research Article
ISSN: 1750-6220

Keywords

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Article
Publication date: 7 November 2019

Sani Damamisau Mohammed

Carbon emissions from gas flaring in the Nigerian oil and gas industry are both a national and international problem. Nigerian government policies to eliminate the problem…

Abstract

Purpose

Carbon emissions from gas flaring in the Nigerian oil and gas industry are both a national and international problem. Nigerian government policies to eliminate the problem 1960-2016 yielded little or no results. The Kyoto Protocol (KP) provides Clean Development Mechanism (CDM) as an international market-based mechanism to reducing global carbon emissions. Therefore, the purpose of this paper is to analytically highlight the potentials of CDM in eliminating carbon emissions in the Nigerian oil and gas industry.

Design/methodology/approach

This paper reviewed the historical background of Kyoto protocol, Nigerian Government policies to eliminating gas flaring in its oil and gas industry 1960-2016 and CDM projects in the industry. The effectiveness of the policies and CDM projects towards ending this problem were descriptively analysed.

Findings

Government policies towards eliminating gas flaring with its attendant carbon emissions appeared not to be yielding the desired results. However, projects registered under CDM in the industry looks effective in ending the problem.

Research limitations/implications

Therefore, the success recorded by CDM projects has the policy implication of encouraging Nigeria to engage on establishing more CDM projects that ostensibly proved effective in reducing CO2 emissions through gas flaring reductions in its oil and gas industry. Apparent effectiveness of studied CDM should provide a way forward for the country in eliminating gas flaring in its oil and gas industry which is also a global menace. Nigeria could achieve this by providing all needed facilitation to realising more CDM investments.

Practical implications

CDM as a policy has proved effective in eliminating gas flaring in the Nigerian oil and gas industry. The government should adopt this international policy to achieve more gas flaring reductions.

Social implications

Social problems of respiratory diseases, water pollution and food shortage among others due to gas flaring are persisting in oil and gas producing areas as government policies failed to end the problem. CDM projects in the industry have proved effective in eliminating the problem, thus improving the social welfare of the people and ensuring sustainable development.

Originality/value

The paper analysed the effectiveness of Nigerian Government policies and an international market-based mechanism towards ending gas flaring in its oil and gas industry.

Details

Sustainability Accounting, Management and Policy Journal, vol. 11 no. 3
Type: Research Article
ISSN: 2040-8021

Keywords

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