Models for Environmental and Business Management in the Oil and Gas Industry

Olajide Festus; Joel Ogbonna; Amadi-Echendu Joe

doi:doi:10.11648/j.ajche.s.2017050301.15

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Models for Environmental and Business Management in the Oil and Gas Industry

Olajide Festus, Joel Ogbonna, Amadi-Echendu Joe

Published in American Journal of Chemical Engineering (Volume 5, Issue 3-1)

Received: 20 March 2017 Accepted: 20 March 2017 Published: 27 April 2017

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Abstract

To meet the United Nations 2030 Agenda for Sustainable Development and the United Nations Frame Work conventions on climate change, there is need to develop new business and environmental management models to mitigate the impact of the emission of Carbon (IV) Oxide (CO₂) into the environment by the Oil and Gas industry taking into consideration the advantage provided by the digitalization of technology. This research presents new models for environmental management and Carbon taxation within the frame work of environmental sustainability. This study focused on the sources of the Hydrocarbon rather than the sink for its analysis and modelling. Every Oil and Gas producing country is viewed as an Isolated Thermodynamic system in space whose emission of CO₂ must be sustainable. An Isolated thermodynamic system is one in which no transfer of mass or energy occurs across its boundary. Hence, Oil and Gas producing countries that benefit from the revenues of Oil and gas production are held directly responsible for the unfavourable impact of CO₂ emission rather than the sink (consumers) in accordance with the “Polluter Pays Principle”. Viewing every country as an Isolated Thermodynamic system ensures that each country strives to live sustainably. The model for computing the CO₂ Ecological Footprint (EF) was developed with MATLAB 7.5.0 Software based on the total Oil and Gas production from the Oil and Gas producing country (Nigeria was used as a case study). Based on the Computed CO₂ EF, model for the size of the forest required for sequestering all the emitted CO₂ was developed for environmental sustainability. Two of the available technologies for CO₂ sequestration (Ocean Fertilization and Ocean Injection of CO₂) were used to develop environmental cost models as a basis for taxation. The result of the research shows that by viewing each Oil and Gas producing country as an Isolated Thermodynamic System that will be held accountable for CO₂ emission, the attainment of the UN 2030 Agenda for sustainable development and the UN conventions on Climate change are easily achieved. Empirical analyses of data obtained with regard to CO₂ released during Oil and Gas production in Nigeria suggests that the CO₂ release by the Nigerian Oil and Gas Industry is unsustainable. Digitalization technologies will rely on the new models developed in this research to develop new business tools for national and inter-country trading of CO₂ emissions and management of Forests for CO₂ sequestration.

Published in	American Journal of Chemical Engineering (Volume 5, Issue 3-1) This article belongs to the Special Issue Oil Field Chemicals and Petrochemicals
DOI	10.11648/j.ajche.s.2017050301.15
Page(s)	42-48
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2024. Published by Science Publishing Group

Keywords

Ecological Footprint, Sustainability, Thermodynamic System, Sequestration, Modelling

References

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[5]	Hartman, P.L, Desjardins, J. and MacDonald C. 2014. Business Ethics, Decision Making for Personal Integrity & Social Responsibility, Business and Environmental Sustainability, Chapter 9, pp 7.
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[7]	Desjardins J. 2005: Business & Professional Ethics Journal: Business and Environmental Sustainability, Vol. 24, Nos. 1&2.
[8]	Andrew C., Richard V. Sean W., Rose L. 2013. Safety and Environmental Management in the Oil and Gas Industry. Strategy &. Pp 4.
[9]	Jayalaxshmi M.; Andrea B.; Celine, T., Elisa B., Lakeram H., Ryan B. Grace A., Rebecca X., Bernie R., Odacy D., Deirdre J. Geraude D-V. 2016. Ecology and Society, Community owned solutions: identifying local best practices for social-ecological sustainability, 21(2):42.
[10]	The national petroleum council (NPC). 2011. Offshore Environment Footprints and regulatory reviews, Environmental Footprint and Rgulatory Reviews, Paper 2-8.
[11]	Ewing, B., David, M., Steven, G., Anna O., Anders, R, and Mathis, W. 2010. Ecological Footprint Atlas 2010. Global footprint Network, Oakland, California, p5.
[12]	Rees, W. and Wackernagel, M. 1996: Urban Ecological Footprint: Why Cities Cannot be Sustainable- and why they are a key to Sustainability, Environmental Impact Assess Rev. 16: 223-248, Elsevier Science Inc.
[13]	Weidmann, T. and Barrett, J. 2010. A review of the Ecological footprint Indicator – Perceptions and Methods. Sustainability, Vol. 2.
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[15]	IPCC, Climate Change (1995): The Science of Climate Change Contribution of Working Group I to the Second Assessment Report of the Intergovernmental Panel on Climate Change, JT Houghton, LG Meira Filho; BA Callander, N Harris, A Kattenberg and K Maskell (Eds) Cambridge, England (1996).
[16]	Akai, M., Nishio, N., Iijima, M., Ozaki, M., Minamiura, J. and Tanaka, T. 2004. Performance and Economic Evaluation of CO2 Capture and Sequestration Technologies. Proceedings of the Seventh International Conference on Green House Gas Control Technologies.
[17]	Williams, P. M. and Druffel, E. R. M. 1987. Radiocarbon in Dissolved Organic Carbon in the Central North Pacific Ocean. Nature, Vol. 330, pp 240-248.
[18]	Nigerian National Petroleum Corporation.2010. Annual statistical review 2010, 1st(Ed), 2008, pp 5-10.

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Olajide Festus, Joel Ogbonna, Amadi-Echendu Joe. (2017). Models for Environmental and Business Management in the Oil and Gas Industry. American Journal of Chemical Engineering, 5(3-1), 42-48. https://doi.org/10.11648/j.ajche.s.2017050301.15

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ACS Style

Olajide Festus; Joel Ogbonna; Amadi-Echendu Joe. Models for Environmental and Business Management in the Oil and Gas Industry. Am. J. Chem. Eng. 2017, 5(3-1), 42-48. doi: 10.11648/j.ajche.s.2017050301.15

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AMA Style

Olajide Festus, Joel Ogbonna, Amadi-Echendu Joe. Models for Environmental and Business Management in the Oil and Gas Industry. Am J Chem Eng. 2017;5(3-1):42-48. doi: 10.11648/j.ajche.s.2017050301.15

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@article{10.11648/j.ajche.s.2017050301.15,
  author = {Olajide Festus and Joel Ogbonna and Amadi-Echendu Joe},
  title = {Models for Environmental and Business Management in the Oil and Gas Industry},
  journal = {American Journal of Chemical Engineering},
  volume = {5},
  number = {3-1},
  pages = {42-48},
  doi = {10.11648/j.ajche.s.2017050301.15},
  url = {https://doi.org/10.11648/j.ajche.s.2017050301.15},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ajche.s.2017050301.15},
  abstract = {To meet the United Nations 2030 Agenda for Sustainable Development and the United Nations Frame Work conventions on climate change, there is need to develop new business and environmental management models to mitigate the impact of the emission of Carbon (IV) Oxide (CO2) into the environment by the Oil and Gas industry taking into consideration the advantage provided by the digitalization of technology. This research presents new models for environmental management and Carbon taxation within the frame work of environmental sustainability. This study focused on the sources of the Hydrocarbon rather than the sink for its analysis and modelling. Every Oil and Gas producing country is viewed as an Isolated Thermodynamic system in space whose emission of CO2 must be sustainable. An Isolated thermodynamic system is one in which no transfer of mass or energy occurs across its boundary. Hence, Oil and Gas producing countries that benefit from the revenues of Oil and gas production are held directly responsible for the unfavourable impact of CO2 emission rather than the sink (consumers) in accordance with the “Polluter Pays Principle”. Viewing every country as an Isolated Thermodynamic system ensures that each country strives to live sustainably. The model for computing the CO2 Ecological Footprint (EF) was developed with MATLAB 7.5.0 Software based on the total Oil and Gas production from the Oil and Gas producing country (Nigeria was used as a case study). Based on the Computed CO2 EF, model for the size of the forest required for sequestering all the emitted CO2 was developed for environmental sustainability. Two of the available technologies for CO2 sequestration (Ocean Fertilization and Ocean Injection of CO2) were used to develop environmental cost models as a basis for taxation. The result of the research shows that by viewing each Oil and Gas producing country as an Isolated Thermodynamic System that will be held accountable for CO2 emission, the attainment of the UN 2030 Agenda for sustainable development and the UN conventions on Climate change are easily achieved. Empirical analyses of data obtained with regard to CO2 released during Oil and Gas production in Nigeria suggests that the CO2 release by the Nigerian Oil and Gas Industry is unsustainable. Digitalization technologies will rely on the new models developed in this research to develop new business tools for national and inter-country trading of CO2 emissions and management of Forests for CO2 sequestration.},
 year = {2017}
}

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TY  - JOUR
T1  - Models for Environmental and Business Management in the Oil and Gas Industry
AU  - Olajide Festus
AU  - Joel Ogbonna
AU  - Amadi-Echendu Joe
Y1  - 2017/04/27
PY  - 2017
N1  - https://doi.org/10.11648/j.ajche.s.2017050301.15
DO  - 10.11648/j.ajche.s.2017050301.15
T2  - American Journal of Chemical Engineering
JF  - American Journal of Chemical Engineering
JO  - American Journal of Chemical Engineering
SP  - 42
EP  - 48
PB  - Science Publishing Group
SN  - 2330-8613
UR  - https://doi.org/10.11648/j.ajche.s.2017050301.15
AB  - To meet the United Nations 2030 Agenda for Sustainable Development and the United Nations Frame Work conventions on climate change, there is need to develop new business and environmental management models to mitigate the impact of the emission of Carbon (IV) Oxide (CO2) into the environment by the Oil and Gas industry taking into consideration the advantage provided by the digitalization of technology. This research presents new models for environmental management and Carbon taxation within the frame work of environmental sustainability. This study focused on the sources of the Hydrocarbon rather than the sink for its analysis and modelling. Every Oil and Gas producing country is viewed as an Isolated Thermodynamic system in space whose emission of CO2 must be sustainable. An Isolated thermodynamic system is one in which no transfer of mass or energy occurs across its boundary. Hence, Oil and Gas producing countries that benefit from the revenues of Oil and gas production are held directly responsible for the unfavourable impact of CO2 emission rather than the sink (consumers) in accordance with the “Polluter Pays Principle”. Viewing every country as an Isolated Thermodynamic system ensures that each country strives to live sustainably. The model for computing the CO2 Ecological Footprint (EF) was developed with MATLAB 7.5.0 Software based on the total Oil and Gas production from the Oil and Gas producing country (Nigeria was used as a case study). Based on the Computed CO2 EF, model for the size of the forest required for sequestering all the emitted CO2 was developed for environmental sustainability. Two of the available technologies for CO2 sequestration (Ocean Fertilization and Ocean Injection of CO2) were used to develop environmental cost models as a basis for taxation. The result of the research shows that by viewing each Oil and Gas producing country as an Isolated Thermodynamic System that will be held accountable for CO2 emission, the attainment of the UN 2030 Agenda for sustainable development and the UN conventions on Climate change are easily achieved. Empirical analyses of data obtained with regard to CO2 released during Oil and Gas production in Nigeria suggests that the CO2 release by the Nigerian Oil and Gas Industry is unsustainable. Digitalization technologies will rely on the new models developed in this research to develop new business tools for national and inter-country trading of CO2 emissions and management of Forests for CO2 sequestration.
VL  - 5
IS  - 3-1
ER  -

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Author Information

Olajide Festus

Institute of Engineering, Technology and Innovation Management (METI), University of Port Harcourt, Port Harcourt, Nigeria
Joel Ogbonna

Centre for Petroleum Research and Training Institute of Petroleum Studies, University of Port Harcourt, Port Harcourt, Nigeria
Amadi-Echendu Joe

Graduate School of Technology Management, University of Pretoria, Pretoria, South Africa

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Plain Text BibTeX RIS

APA Style

Olajide Festus, Joel Ogbonna, Amadi-Echendu Joe. (2017). Models for Environmental and Business Management in the Oil and Gas Industry. American Journal of Chemical Engineering, 5(3-1), 42-48. https://doi.org/10.11648/j.ajche.s.2017050301.15

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ACS Style

Olajide Festus; Joel Ogbonna; Amadi-Echendu Joe. Models for Environmental and Business Management in the Oil and Gas Industry. Am. J. Chem. Eng. 2017, 5(3-1), 42-48. doi: 10.11648/j.ajche.s.2017050301.15

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AMA Style

Olajide Festus, Joel Ogbonna, Amadi-Echendu Joe. Models for Environmental and Business Management in the Oil and Gas Industry. Am J Chem Eng. 2017;5(3-1):42-48. doi: 10.11648/j.ajche.s.2017050301.15

Copy | Download

@article{10.11648/j.ajche.s.2017050301.15,
  author = {Olajide Festus and Joel Ogbonna and Amadi-Echendu Joe},
  title = {Models for Environmental and Business Management in the Oil and Gas Industry},
  journal = {American Journal of Chemical Engineering},
  volume = {5},
  number = {3-1},
  pages = {42-48},
  doi = {10.11648/j.ajche.s.2017050301.15},
  url = {https://doi.org/10.11648/j.ajche.s.2017050301.15},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ajche.s.2017050301.15},
  abstract = {To meet the United Nations 2030 Agenda for Sustainable Development and the United Nations Frame Work conventions on climate change, there is need to develop new business and environmental management models to mitigate the impact of the emission of Carbon (IV) Oxide (CO2) into the environment by the Oil and Gas industry taking into consideration the advantage provided by the digitalization of technology. This research presents new models for environmental management and Carbon taxation within the frame work of environmental sustainability. This study focused on the sources of the Hydrocarbon rather than the sink for its analysis and modelling. Every Oil and Gas producing country is viewed as an Isolated Thermodynamic system in space whose emission of CO2 must be sustainable. An Isolated thermodynamic system is one in which no transfer of mass or energy occurs across its boundary. Hence, Oil and Gas producing countries that benefit from the revenues of Oil and gas production are held directly responsible for the unfavourable impact of CO2 emission rather than the sink (consumers) in accordance with the “Polluter Pays Principle”. Viewing every country as an Isolated Thermodynamic system ensures that each country strives to live sustainably. The model for computing the CO2 Ecological Footprint (EF) was developed with MATLAB 7.5.0 Software based on the total Oil and Gas production from the Oil and Gas producing country (Nigeria was used as a case study). Based on the Computed CO2 EF, model for the size of the forest required for sequestering all the emitted CO2 was developed for environmental sustainability. Two of the available technologies for CO2 sequestration (Ocean Fertilization and Ocean Injection of CO2) were used to develop environmental cost models as a basis for taxation. The result of the research shows that by viewing each Oil and Gas producing country as an Isolated Thermodynamic System that will be held accountable for CO2 emission, the attainment of the UN 2030 Agenda for sustainable development and the UN conventions on Climate change are easily achieved. Empirical analyses of data obtained with regard to CO2 released during Oil and Gas production in Nigeria suggests that the CO2 release by the Nigerian Oil and Gas Industry is unsustainable. Digitalization technologies will rely on the new models developed in this research to develop new business tools for national and inter-country trading of CO2 emissions and management of Forests for CO2 sequestration.},
 year = {2017}
}

Copy | Download

TY  - JOUR
T1  - Models for Environmental and Business Management in the Oil and Gas Industry
AU  - Olajide Festus
AU  - Joel Ogbonna
AU  - Amadi-Echendu Joe
Y1  - 2017/04/27
PY  - 2017
N1  - https://doi.org/10.11648/j.ajche.s.2017050301.15
DO  - 10.11648/j.ajche.s.2017050301.15
T2  - American Journal of Chemical Engineering
JF  - American Journal of Chemical Engineering
JO  - American Journal of Chemical Engineering
SP  - 42
EP  - 48
PB  - Science Publishing Group
SN  - 2330-8613
UR  - https://doi.org/10.11648/j.ajche.s.2017050301.15
AB  - To meet the United Nations 2030 Agenda for Sustainable Development and the United Nations Frame Work conventions on climate change, there is need to develop new business and environmental management models to mitigate the impact of the emission of Carbon (IV) Oxide (CO2) into the environment by the Oil and Gas industry taking into consideration the advantage provided by the digitalization of technology. This research presents new models for environmental management and Carbon taxation within the frame work of environmental sustainability. This study focused on the sources of the Hydrocarbon rather than the sink for its analysis and modelling. Every Oil and Gas producing country is viewed as an Isolated Thermodynamic system in space whose emission of CO2 must be sustainable. An Isolated thermodynamic system is one in which no transfer of mass or energy occurs across its boundary. Hence, Oil and Gas producing countries that benefit from the revenues of Oil and gas production are held directly responsible for the unfavourable impact of CO2 emission rather than the sink (consumers) in accordance with the “Polluter Pays Principle”. Viewing every country as an Isolated Thermodynamic system ensures that each country strives to live sustainably. The model for computing the CO2 Ecological Footprint (EF) was developed with MATLAB 7.5.0 Software based on the total Oil and Gas production from the Oil and Gas producing country (Nigeria was used as a case study). Based on the Computed CO2 EF, model for the size of the forest required for sequestering all the emitted CO2 was developed for environmental sustainability. Two of the available technologies for CO2 sequestration (Ocean Fertilization and Ocean Injection of CO2) were used to develop environmental cost models as a basis for taxation. The result of the research shows that by viewing each Oil and Gas producing country as an Isolated Thermodynamic System that will be held accountable for CO2 emission, the attainment of the UN 2030 Agenda for sustainable development and the UN conventions on Climate change are easily achieved. Empirical analyses of data obtained with regard to CO2 released during Oil and Gas production in Nigeria suggests that the CO2 release by the Nigerian Oil and Gas Industry is unsustainable. Digitalization technologies will rely on the new models developed in this research to develop new business tools for national and inter-country trading of CO2 emissions and management of Forests for CO2 sequestration.
VL  - 5
IS  - 3-1
ER  -

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