seminar paper - my part

seminar paper - my part - `OIL INDUSTRY' Submitted to AJ....

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‘OIL INDUSTRY’ Submitted to AJ. RAT By WIPASSORN TONGTAOW 5245894829 KRONGPRON CHATLAONG 5245810029 THITAREE THAKUR 5245825529 SUKRIT 524XXXXX29 In partial fulfillment of the requirement for the EBA Bachelor of Arts in Economics CHULALONGKORN UNIVERSITY 1 st December, 2011 Table of Contents Introduction - Historical Background - The Overview of the Thai Oil Industry
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Contribution Methodology Macroeconomic Overview and The Supply Chain of Oil Industry The Relationship between Crude Oil Prices and the Global Economic Situation Impact of Libya and Egypt Political Turmoil on Thai Oil Industry Government Intervention and the Effect The Expected Overall Outlook of the Industry and Prediction of Crude Oil Price Conclusion Introduction The objective of this research paper is to apply our wide-ranging theoretical knowledge gained from the ‘Seminar on Economics of Thai Industries’ course and mini-cases to a real-life industry in order to observe whether the economic theories can be applied in real practice. The chosen industry for our research is the Thai petroleum industry, given that the industry contains tremendous effects to the nation as a whole. The Petroleum industry is categorized in the energy sector, which is considered as one of the most valuable sector in term of country’s finite natural resources. Therefore, the sector has always been closely monitored and concerned by Thai government and investors in the past several years, together with the ‘environmental concerning trend’ worldwide. This research paper also has the highest priority in providing a big clear picture of the whole industry to the investors, directing them to invest in the most reasonable way to yield maximum profit in return. The analysis will start with the historical background of
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the industry in order to enhance the basis idea of how the industry performed in the past, which is the fundamental feature for development in the future. Historical Background Thailand’s oil industry first started in 1921 and operated solely by the government. In the beginning, Military Fuel Division conducted the exploration of petroleum. There were a number of oil fields discovered but the operations were not very productive. With an attempt to attract foreign investors for oil exploration, Thailand granted a petroleum exploration permit for the first foreign oil company in 1960. To promote petroleum exploration and production and to attract more investors, the Petroleum Act and Petroleum Income Tax Act were enacted in 1971. The Petroleum Act was amended in 1973, 1979, 1989 and 1991. The 1991 amendment exempts machinery and equipment from import taxes. Petroleum exploration and production grants to private investors are in the form of concessionary contract where the concessionaire pays to the government royalties. The Overview of Thai Oil Industry
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seminar paper - my part - `OIL INDUSTRY' Submitted to AJ....

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