Petrol Retail Sector The WritePass Journal

Petrol Retail Sector Abstract Petrol Retail Sector , p.82). The major aim of these policies is to preserve the resources so as to ensure that there is continuity or sustainability. When these policies are put in place, the quantity of oil produced reduces, thus demand exceeding supply, which consequently forces the prices to go up. Nonetheless, these policies that are introduced by the governments, which aims at limiting the extraction of oil exerts a lot of pressure on the companies that produce oil to not only finding ways of increasing efficiency, but also finding alternative sources of fuel. These initiatives are very slow and difficult because of the considerable financing required energy and time that go into things like researching and production of such products. More so, when an alternative sources of energy is introduced into the market, there is a substantial time lag in which the designing and production of new products that are compatible is done (Beamish, 2006, p.88). It then can take even more time for the clients to know about the existence or availability of the products and be willing to make investments in them. Extreme weather conditions also affect the production of the crude oil. For instance, when there is a lot of rain, it becomes very difficult to access the sites of oil drilling. The machines that are used in the process of drilling oil might also be damaged by the unfavorable weather or their operation may just be affected. This makes it difficult for the crude oil to be produced in large quantities, thus forcing the prices to rise (Bushell, and Stan, 2009). Legal effects Different countries have different requirements for one to be allowed to start and operate a business. The same case applies to the ownership of a service station as well as the oil companies. If the requirements by the government are too strict, there will be a few suppliers in the market, and in turn the price of fuel will rise (Assilzadeh, and Yang, 2010, p.240). Conclusion The oil industry is a very important part or sector of the world economy that should be developed and taken care of in an appropriate manner. Problems such as strikes should be avoided by timely payment so that supply can remain steady. The company should invest in the latest technology that is related to the business to ensure fast delivery of petrol and diesel. Proper plans should also be put in place to ensure that the costs of production and operation of oil companies are reduces and the legal requirements made as flexible as possible. To avoid shortages in supply due to political factors, the company should not depend on a single source of supply, specifically from the OPEC countries. This problem can also help by ensuring that the Greenwich region is safe for any kind of business and the petrol station should also consider using oil pipelines as opposed to tankers. References (2008, 12). Risk Analysis in Oil Refining Sector. StudyMode.com. Retrieved 12, 2008, from studymode.com/essays/Risk-Analysis-In-Oil-Refining-Sector-185467.html Akkartal, A., and F. Sunar, 2008, ‘The usage of radar images in oil spill detection. The International Archives of the Photgrammetry.’ Remote Sensing and Spatial Information Sciences 37, no. Part B8: 271-76. Anderson, A, and Marhadour A, 2007, ‘Slick PR? The media politics of the Prestige oil spill.’ Science Communication 29, no. 1: 96-115. Assilzadeh, H, and Yang G, 2010, ‘Designation of an interactive oil spill management system.’ Disaster Prevention and Management 19, no. 2: 233-42. Beamish, T D, 2006, Silent Spill: The Organization of an Industrial Crisis. London: MIT Press. Black, B C, 2012, Crude Reality: Petroleum in World History. New York: Rowman Littlefield. Bushell, S, and Stan J, 2009, The Spill: Personal Stories from the Exxon Valdez Disaster. AK: Epicenter Press. Fleig, F, 2005, Oil Empire: Visions of Prosperity in Austrian Galicia (Harvard Historical Studies). Harvard University Press. Simmons, S, 2005, Twilight in the Desert The Coming Saudi Oil Shock and the World Economy, John Wiley Sons. Sobel R, 2008, The Money Manias: The Eras of Great Speculation in America, Lanham, MD: Scarecrow Press (Rowman Littlefield). Yeomans, M, 2006, Oil: Anatomy of an Industry, New Press.