Abstract : In this paper we describe the important factors affecting the permeability of Tight Gas Sandstones reservoirs. We propose two approaches for prediction of permeability in in-situ conditions. The proposed approaches capture the key parameters that affect permeability in reservoir conditions, such as, micro structure (which is characterized by parameters such as porosity, pore throat diameter and grain size), diagenetic processes (which is characterized by the degree of cementation), bedding architecture (which is characterized by primary sedimentary structure) and in-situ conditions (such as saturation and confining pressure). We propose two empirical models based on multivariate regression analysis and artificial neural networks. To validate the proposed approach we have used tight gas sandstone data from six western US basins

Abstract : Modern distance relays are designed with different characteristics in order to demonstrate that they can provide better protection and at the same time results in significant improvement of the performance of distance relays during wide area disturbances by preventing the operation of distance relays under dynamic load conditions. However, blocking the operation of the distance elements if a fault occurs at this time may result in a further degradation of the system conditions. The paper discusses in detail the effect of dynamic loading on different types of distance relays characteristics and the relay loadability limits at a different power factor angle are calculated. The simulation result shows the impact of different MTA on a relay loadability limit. The comparison of MHO characteristics and lens characteristics are carried out in PSCAD/EMTDC software. The test network used in this paper is 230 kV, 300 km radial Transmission line systems.

Abstract : The purpose of this paper is to understand the competitive environment of the Indian petroleum industry and also to determine the implications of the competitive environment on supply chain performance. The Indian petroleum industry has been analysed by applying Porter’s Five Forces Model and its implications on supply chain performance of the industry have been determined. As compared to discrete manufacturing supply chains, process industry supply chains are relatively less researched. Though Porter’s Five Forces Model is an old concept its application to the petroleum industry especially with reference to India is new. The insights provided by this paper could be valuable to industry as well as policy makers.

Abstract : Option Derivatives appeared in 1990´s and became popular tool of hedging and risk management. In this paper, the authors seek to study the zero cost collar option contracts for commodity hedging and its fair valuation and accounting. The paper underlines the main advances in hedge accounting proposed by IASB & IFRS 9 and tests the effectiveness of zero cost collar option strategy on NYMEX WTI crude oil in the backdrop of falling commodity prices. We underline that, while the results have a great significance from an economic viewpoint, they may also be utilized for hedge accounting purposes & accounting for time value of zero cost collar strategy.

Abstract : The Islamic State of Iraq and Syria (ISIS) or Islamic State (IS) militants have captured significant oil and gas fields in Iraq and Syria and developed their independent financial mechanisms to recruit cadres, carry operations and run caliphate administration in their occupied territories. The IS-controlled oil fields in Iraq and Syria produce 25,000 to 40,000 barrels of oil per day, which is about $ 1. 2 million. They earn money at earliest, demands protection money and transit fees and sells oil in the local and international black market with cheap rates. Thus, the cheap oil and energy market has turned as a source of income for the poor or displaced Iraqis and Syrians. In the national and international market, they have buyers, traders, businessmen and middle man who support and assist this black marketing. Apart from domestic black market, the oil is being smuggled out to Iran, Kurdistan, Turkey, Syria and other countries as well. As a consequence, there has been reduction in oil production, loss of revenues and disinterest of foreign companies to invest in the regions. The external forces such as US and Russia and their air strikes and ground operations have disrupted makeshift refineries, pipelines and transport convoys of IS to deliver oil to the black market. However, since there is no large scale ground operations by the external powers, most of the oil wells and refinery are under the IS control, and ‘nexus’ between government and militia have troubled the operations against IS and their oil trade. The paper will analyse the mechanisms through which ISIS carries out its oil market, ISIS and its adverse impact on energy market and infrastructure in Iraq and Syria, Implications of energy market, intricacies or nexus in black market, outcomes of armed operation by external powers such as Russia and coalition forces with specific reference to United States.