Project
Report 2.
Crude oil trading-The case of chase petroleum.
Crude oil trading officially began as far back as
1869 and has steadily progressed till date in this technological dispensation and
advancement.
During the 17th Century of oil disclosure
trading and price fixing has steadily advanced and distribution in to the main
stream the capital market has constantly generated the edge for high demand and
supply.
As supply and consumption elevate while population
continues to increase and the discovery of oil resources limited to specific
time, price is the only measure to regulate the crucial commodity.
Price fixing started way back since 1869 to
facilitate and regulate crude oil demand and supply and distribution to the
ever increasing population.
History is that cheap source of affordable and
efficient mobility is fuel, derived from crude oil and consumer’s life style
and necessity demands the use of this precious commodity that can never be over
looked when traveling, power generation and space travels are few concerns.
One characteristic of consumers is the fact that
they look for costless energy to commensurate their meager financial resource
as to make life a bit easier.
Yet the social systems and many factors influence
the escalating price of crude and the market trends.
Now in the case of crude oil distribution chase
petroleum stands the advantage to supply and distribute bulky sea of petroleum
products across the Ghanaian market.
Since 1999 the petroleum industries in Ghana wake to
the call to align and network with other parties and also the international oil
markets to streamline activities, coordinate and corresponds with current
market events.
Efficient customer satisfaction is a major priority
so as to double and continue in business even within a competitive market.
Facilities and logistics have been regimented to
check supply to retail networks who deliver to consumers that has currently
amounted to 95% nationwide.
Massive depots created at Tema, Kumasi, Buipe, and
Takoradi for storage and distribution. While tankers and other mode of fuel
transportation taken care of for efficient supply and distribution under all
safety measures so as to protect the environment, human lives and property.
Acquiring fresh tankers and skilled drivers can not
be over looked since a lot depends on them for safe delivery of petroleum
products and ideally also increase market satisfaction and profit as well.
The high dependency on petroleum products is crucial
for nation development when most human activities are linked with it however,
it can only be emphasized that the government of the day will have many things
to handle but if their able to manage this sector very well then they are on
the road to scoring big with the people.
Therefore good administration in handling this
sector can easily retain any government of the day in power.
To conclude perhaps in the future there might be
possible discovery of newer energy and the mode of use but until then the only
source of energy for transportation across globe is surely crude oil.
Thanks.
M.D.P.I.-G.I.G. OIL&GAS TRAINING.
Name: Richard Grant-Afari
Course: Marketing Management
Zone: Accra
ID.
No: TC-OT-0753
Tel: 0279608934 or 0267497727.
Group
Members
Frederick Ayitey Attoh-0274129816
Gad Stephen Blavo-0244656371
Nicholas Offei Kumi-0246192630
Eric Quaye-0242871790
