As rising economic powers, both India and Russia are playing an increasingly larger role on the world stage. India-Russia relationship has evolved into an equal partnership. The deep roots of this relationship go back to the early 20th century when India was under British rule and the Czars ruled Russia. The Russian Revolution of inspired Indian freedom fighters.
This industry gives the opportunity of investment and the investors can get good income from this business. If the proper PESTEL analysis is done for this industry about any country or specific area, then the executives of a company can understand the nature of the working, the conditions of business and necessary regulations, which they have to follow during their process of working.
They need to understand that the energy resources are important for human and industrial consumers and they need to meet their demands effectively in different ways Academic Sample Papers, Political Factors The industry of oil and petroleum needs labor to work with and they have to pay the taxes and other charges, which are levied over it.
The industry have to follow the taxation policy, implement labor laws in industry, trade restrictions, political stability in the country, environmental laws and tariffs. The government provides the goods and services to this industry and helps it to flourish so that it can contribute in strong economy of the country.
As millions of people are associated with this business, so they need to enforce proper labor law with suitable working hour and the wages policy to enhance happiness and well-being of the labor.
In also enforces the industry for the provision of health, education facilities along with infrastructure to the community Shikhar Indian oil corporation essay, The various political factors, which are expressed, they show the political impact on the industry and business and they refer to the government policies, which are made about energy sector and show intervention in economy of the country.
Government provides products and services and decision of government can affect this industrial sector and also enhance the quality of the infrastructure Academic Sample Papers, Economical factors The searching of petroleum has left great impact on the economies of the countries, where it is found and refined.
The OPEC countries have earned lot of wealth through the sale of oil and petroleum to other countries as it is necessary for different domestic and commercial use. Petroleum is extracted from its reserves present in the ground and it is refined for use in the end products.
The petroleum industry consists of exploration of oil and upstream in the production industry and the downstream refinery industry Shikhar Verma, The economic factors have the influence of the supply and demand of the oil prices along with supplementary goods, substitute resources and the exchange rate of American dollar in the market.
The skilled and professional workers work in this sector and they get good wages and the relaxing working hours. The countries want to have oil and gas industry, so that they can meet their future demands and it can help them to raise their living standards Academic Sample Papers, The petroleum industry brought changes in the lives of the people.
There is no culture, which is against the exploration of petroleum and people like the oil industry as it is necessary for their development and welfare. Some people think that it is great source of pollution, which is affecting the environment but they cannot deny the importance of this industry.
They think that government should impose ban on creation of pollution and start law for pollution reduction UKessays, Technological Factors When we discuss about the technological factor, it means these are about different technologies, techniques and the ways than can affect the activities, which are being undertaken in an organization.
It can also influence the organization with the need to get modern technology, learn new techniques and use different methods. Such latest technologies are used for the exploration of oil and gas and use roads, pipelines, transport and oil tanks.
The second technologies are used in giving protection to environment, workers, and enhance the efficiency of management with the use of new software and hardware and make better their maintaining and repairing skills UKessays, This industry is working for the complementary products, like ships, vehicles, airplanes, petrochemicals including synthetic rubber, synthetic fibers, and various other products.
Now the substitute industries are introduced like biomass industry, nuclear industry, natural gas, coal industry, renewable energy resources and nuclear industry. With the development of other energy resources, the use of oil and petroleum are now abandoned UKessays, Environmental Factors The geographic position of the oil reserves and refinery has great influence on the activity of the oil companies.
The latest report of OPEC shows that most of the natural oil and petroleum is produced in the countries like Saudi Arabia, Kuwait, Libya, Russia, US, Venezuela, Iran, Canada, UAE, Nigeria, China, Qatar, Algeria, Mexico and many more and they have to face the natural disasters of earthquakes, sand storms, hurricanes, cyclones, snow storm, tsunami, hot temperature and volcanic eruption and such incidents affected the economic situation in the country UKessays, When the investors make their investment in the oil and petroleum industry, they should understand macro-environment.
It is necessary to use oil and petroleum in the industry but the use of oil and gas products remain necessary, so the government and concerned departments should ensure strict regulations for the use of oil and gas to combat with the negative effects of oil and gas industry.
They should design the structure to utilize these resources in preventive and safe manner Academic Sample Papers, The legal factor influences the exploration, exploitation, and the commercialization of oil products.
This industry has to face some legal positions like work regulation, work protection, social protection, competition regulation, pollution, international trade and consumer protection. The industry has to pay the subsidies, taxes for fuels and oil prices UKessays, The world has changed and continues to change rapidly.
The convergence of telecom, media and computing has changed the way we work, play and live. Going back in time, we first had the physical networks - roads, rail, electricity, and water.
These networks connected cities and towns and were the life. The court on 14th of March, directed the GAIL, Indian Oil Corporation and the U.P. State Industrial Development Corporation to indicate the industrial areas outside the TTZ which would be connected with the gas supply network.
Indian Oil Corporation is the largest oil company in India and is ranked th in the fortune companies. It has the widest market of petrol stations in India. It has various products such as Oil, Natural gas, Petroleum, Lubricants and fuel.
Indian Oil Corporation Ltd. (Indian Oil) was formed in through the merger of Indian Oil Company Ltd and Indian Refineries Ltd. Indian Refineries Ltd was formed in , with Feroze Gandhi as Chairman and Indian Oil Company Ltd.
was established on 30th June with Mr . The research ecosystem in India presents a significant opportunity for multinational corporations across the world due to its intellectual capital available in the country.
Legions of Indian engineers working across the globe highlight the highly trained manpower available at competitive costs.
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