Hindustan petroleum corporation limited

Hindustan petroleum corporation limited Chapter-1 1.1Introduction to Hindustan Petroleum HPCL (Hindustan Petroleum Corporation Limited), a Navratna PSU of the Government of India, is a Fortune 500 company of India listed at number 311 in the global 500 rankings, with an annual turnover of over Rs. 1,16,428 Crores and sales/income from operations of Rs 1,31,802 Crores (US$ 25,618 Millions) during financial year 2008-09, about 20% Marketing share in India and a strong market infrastructure. Corresponding figures for financial year 2007-08 are: Turnover- Rs 1,03,837 crores, and sales/income from Operations- Rs. 1,12,098 Crores (US$ 25,142 Million). HPCL operates 2 major refineries producing a wide variety of petroleum fuels specialties, one in Mumbai (West Coast) of 5.5 Million Metric Tonnes Per Annum (MMTPA) capacity and the other in Vishakapatnam, (East Coast) with a capacity of 7.5 MMTPA. HPCL holds an equity stake of 16.95% in Mangalore Refinery Petrochemicals Limited (MRPL), a state-of-the-art refinery at Mangalore with a capacity of 9 MMTPA. Another Refinery of 9 MMTPA is under construction in Bathinda, Punjab by HMEL, a Joint Venture with Mittal Energy Investments Pte.Ltd. HPCL also owns and operates the largest Lube Refinery in India producing Lube Base Oils of international standards. With a capacity of 335 TMT. This Lube Refinery accounts for over 40% of the Indias total Lube Base Oil production. Presently HPCL produces over 300+ grades of Lubes, Specialities and Greases. The marketing network of HPCL consists of 13 Zonal offices in major cities and 90 Regional offices facilitated by a Supply Distribution infrastructure comprising Terminals, Aviation Service Facilities, LPG Bottling Plants, Lube filling plants, Inland Relay Depots, Retail Outlets (Petrol Pumps) and LPG Lube Distributorships. HPCL has, over the years, moved from strength to strength on all fronts. The refining capacity steadily increased from 5.5 million metric tonnes in 1984/85 to 13.00 million metric tonnes (MMT) now. On the financial front, the turnover grew from Rs. 2687 crores in 1984-85 to Rs 1,31,802 Crores in Financial year 2008-09. 1.2History of Hindustan Petroleum Ltd. 1952 The Company was incorporated in the name of Standard Vacuum Refining Company of India Limited on July 5, 1952 under the Indian Companies Act, VII of 1913. 1962 On 31st March the name was changed to ESSO Standard Refining Company of India Limited. 1976 With the nationalization of Caltex Undertakings in India the same were also taken over by the Government of India and subsequently merged with HPCL. 1979 The undertakings of Kosangas Company Ltd. were merged with HPCL. As part of the disinvestment in PSUs, shares of HPCL were sold by the Government to Financial Institutions, Mutual Funds and Banks. Presently the Government holding in HPCL is 60.31%. The balance is being held by Financial Institutions, Mutual Funds, Banks, Foreign Institutional Investors, Employees and Individual Shareholders. It has co-promoted several joint ventures like Mangalore Refinery Petrochemicals (MRPL), Hindustan Colas, Petronet India, Punjab Refinery Project, Visakh Power Project, Prize Petroleum Co South Asia LPG Co. 1983 The capacity of lube plant was increased by an additional 74,000 tonnes per annum of high viscosity index lube base stocks. 1985 The crude unit and related off-sites were commissioned in January and fluid catalytic cracking unit was commissioned in August. During the year corporation embarked upon a project to expand the crude distillation capacity at Mumbai by 2 million tonnes per annum at an estimated cost of Rs.45 crores. This project was commissioned in April. 1988 Mangalore Refineries Petrochemicals Ltd., is the first joint sector refinery being set up in the country after the Government has allowed entry of the private sector in the petroleum refining industry. 1989 During the year corporation installed the latest C-generations concept 3*10 MW gas turbines to meet the power requirement at Bombay Refinery with facilities to generate steam simultaneously. 1991 During September 3*10 MW gas turbine generators and heat recovery steam generators were commissioned at a cost of Rs.79.22 crores at Mumbai. 1993 During March an MOU was entered into between Govt. of India and Govt. of Sultanate of Oman, HPCL and Oman Oil Co., Ltd., for setting up 6 million TPA refinery on the West Coast of India through a joint venture company called Hindustan Oman Petroleum Co. Ltd. 1995 During February, the company issued 173,50,000 equity shares of Rs.10 each with detachable warrants of Rs.380 each as follows. a. On firm allotment basis: i) 34,70,000 equity shares with warrants to Indian Financial institutions ii) 3,35,000 shares with warrants to Indian Mutual Funds. b. Preferencial allotment basis: i) 17,35,000 shares with warrants to share to employees ii) 17,75,000 shares with warrants to shareholders of the company, iii) 34,70,000 shares with warrants to NRIs, balance 66,05,000 shares were issued to the public. 1996 During the year March a joint venture with Colas S.A of France, the company commenced its first State-of-the-art Bitumen emulsion Plant of 20,000 TPA capacity at Vashi, named Hindustan Coalas Ltd. 1999 American Express and Hindustan Petroleum Corporation has signed a memorandum of understanding (MoU) for card acceptance at various gas stations. Hindustan Petroleum Corporation Ltd (HPCL) and Gas Authority of India Ltd (GAIL) have entered into an agreement for setting up a liquefied petroleum gas (LPG) pipeline and infrastructure from Visakhapatnam to Secunderabad via Rajamundry and Vijayawada. The Foreign Investment Promotion Board (FIPB) has allowed the joint venture of Hindustan Petroleum Corporation (HPCL) and Total of France, to set up LNG terminals and venture into downstream activities such as marketing of petro-products, etc. Hindustan Petroleum Corporation Ltd (HPCL) is celebrating its silver jubilee year with Shakti Utsavs in major Indian cities. Hindustan Petroleum Corporation Ltd. has introduced its smart card in Bangalore for the first time in the country. 2004 HPCL Marketing Initiatives in Sri Lanka Hindustan Petroleum Corporation Ltd (HPCL) has formed a 50:50 joint venture with Total Gas and Power India (TGPI), a wholly-owned subsidiary of Total France, to develop the biggest underground Cavern LPG Storage project at Visakhapatnam Gets award for industrial safety by National Safety Council, Kerala Chapter in chemical industries sector Inks pact with Shell India Private Ltd for product and infrastructure sharing between the two companies Signs agreement with US Pizza, a pizza outlet, which would be opening over 500 delivery units at HPCLs outlets around the country. The understanding is aimed at making the partnership the largest food chain in the country Mr S. Roy Choudhary has been appointed as Director-Marketing in Hindustan Petroleum Corporation Ltd (HPCL), effective May 10 Hindustan Petroleum Corporation Ltd on June 26 signed a memorandum of understanding with Indian Oil Corporation Ltd Birla Power Solutions, a Yash Birla Group company, has tied up with Hindustan Petroleum Corp Ltd (HPCL) to produce electricity generators, which run on LPG HPCL launches unique smart card Hindustan Petroleum Corporation signs MoU Confidentiality agreement with Chevron Texaco 2005 HPCL signs MoU with RCF (Rashtriya Chemicals Fertilisers Ltd ) HPCL ropes in Sania Mirza to endorse retail brands Pizza Corner forges alliance with HPCL Amex, HPCL unveils co-branded credit card HPCL opens new LPG bunk in Visakhapatnam HPCL partners with MSFCL for bio-diesel venture HPCL signed an agreement with BP plc (formerly known as British Petroleum) to form 50:50 strategic joint venture partnership HPCL signs MoU with Gail on November 16, 2005 2006 HPCL, MyTVS unveils MyTVS Club HP Smart1 cards HPCL signs MoU with SINOPEC HPCL join hands with Malbro Appliances to market LPG stoves Kamat Group joins hand with HPCL for food joints Nirlep Appliances Ltd, manufacturer of cookware, has entered into a marketing pack with HPCL for marketing non-stick cookware, regular inner and outer lid pressure cookers and gas stoves. 2007 Hindustan Petroleum Corporation Ltd (HPCL) has informed that Shri. Arun Balakrishnan earlier Director (HR) has taken charge as Chairman Managing Director of the Company effective April 01, 2007 (AM). Hindustan Petroleum Corporation Ltd (HPCL) and ONGC have signed a Memorandum of Understanding (MoU), covering Product Sale Purchase, Infrastructure Services and Co-operation in Energy related fields. Hindustan Petroleum Corporation Ltd (HPCL) has informed that Shri. P V Rajaraman, retired IAS Officer and former Chairman of Tamilnadu Industrial Investment Corporation has been co-opted as part-time Non-officio Director on the Board of the Company. Mr V. Vizia Saradhi assumed charge as the Director, Human Resources, of the HPCL on Aug 3. Hindustan Petroleum Corporation Ltd (HPCL) has informed that Shri. V Viziasaradhi has been appointed as Director Human Resources on the Board of the Company effective August 03, 2007 (PM). 2008 Hindustan Petroleum Corporation Ltd (HPCL) has informed that Shri. L N Gupta, Joint Secretary Refineries, Ministry of Petroleum Natural Gas (MOPNG) has been co-opted as part-time ex-officio Director on the Board of HPCL at the Board Meeting held on June 25, 2008 (PM). 2009 Hindustan Petroleum Corporation Ltd (HPCL) has appointed following firms as statutory / Branch Auditors for the Financial year 2009-10. V. Sankar Aiyar Co. : Joint Statutory Auditors Om Agarwal Co. : Joint Statutory Auditors Gandhy Co. : Branch Auditors for Visakh Refinery. 1.3Products Hindustan Petroleum Corporation Ltd. a diverse range of products, from petrochemicals and solvents to aircraft fuel and speciality lubricants and markets them through its wide network of Petrol Stations, Kerosene Dealers, LPG Distributors, Lube Shoppes, besides supplying fuel directly to hundreds of industries, and several international and domestic airlines. Unaudited Financial Result for 2nd Quarter 2009-2010 28th Oct. 2009: Hindustan Petroleum Corporation Limited has registered a turnover of Rs. 25,868 crores for the period July September, 2009 as against Rs. 32,691 crores in the corresponding previous period largely due to the decline in the international prices of crude oil and products. The sales of petroleum products (including exports) have increased to 6.26 million tonnes registering a growth of above 4% over the second quarter of the previous year. The growth in domestic sales during April September, 2009 was 6.4%, the highest growth among oil marketing PSUs. The refineries at Mumbai and Visakh processed 8.12 million tonnes of crude during April September, 2009 as against 7.55 million tonnes during April September, 2008. The combined GRM recorded for April September, 2009 was US $ 3.79 /bbl. On the financial front, the loss for the period July-September, 2009 was Rs.137 crores as against a loss of Rs 3,219 crores for July-September, 2008. However for the period April September, 2009, HPCL reported a profit after tax of Rs 512 crores as against a loss of Rs 4,107 crores during April September, 2008. The interest cost for July-September, 2009 was lower at Rs 249 crores, as compared to Rs 527 crores during the same period of previous year. The decrease in interest cost was due to lower levels of borrowings as also lower rates of interest. The net under recovery on sale of sensitive petroleum products during the second quarter also came down to Rs 1,453 crores from Rs 1,818 crores during corresponding previous period. During the quarter, the foreign exchange gain was Rs 92 crores as against loss of Rs 245 crores in the corresponding quarter of last year. The facilities for Euro III petrol production at Mumbai Refinery and at Visakh Refinery have been commissioned during this quarter. The new JV Refinery at Bathinda, viz. HPCL Mittal Energy Ltd. (HMEL) is progressing as per schedule. About 50% physical completion has already been achieved. The Project is progressing ahead of schedule and mechanical completion is expected by March, 2011. Chapter-2 Review of literature 2.1Review of Literature Hydro Oil Energy increases annual production growth rate to 8%(2002) NORDIC BUSINESS REPORT-12 June 2002-Hydro Oil Energy increases annual production growth rate to 8% (C)1994-2002 M2 COMMUNICATIONS LTD http://www.m2.com The Norwegian company Norsk Hydro ASA said today that it had revised upward the production profile and average annual production growth rate of its Hydro Oil Energy business. Staying Power(2004) The North Sea oil industry is a quintessentially Scottish business, with its operational hub in Aberdeen. Aberdeen has built a reputation for excellence in supporting the UK oil and gas industry. With oil and gas production amounting to about 3.7m barrels of oil equivalent a day (boe/d), Scotland remains a significant hydrocarbons producer in world terms. And a considerable amount of hydrocarbons remains to be produced up to 30bn boe, the UK Offshore Operators Association claims. But while the North Sea offers growth opportunities for niche operators, Aberdeen must reach out to other regions and new business areas. To remain an active source of oilfield services, a focus on research and development and innovative thinking will be needed, as well as timely government help. Oil wealth offers new opportunity(2004) With international banks set to enter Saudi Arabias previously guarded markets, as the long-awaited capital market law comes into effect, the threat of increased competition is looming on the horizon for the countrys banks. At the same time, one of Saudi banks main sources of income the issuance of government paper is slowly drying up. Despite this, Saudi institutions can look forward to a bright future of growing lending opportunities and robust profitability. As consumers embark on an oil-driven spending spree, the local market is as buoyant as it has been for many years. Consumer lending shows no signs of abating and margins remain fat enough to compensate for a tailing off in the issuance of government debt. With Saudi Arabia pumping out more than nine million barrels of crude at oil prices above $35 per barrel, the government is overflowing with liquidity. QATAR: Gas-based development delivers growth(2004) Qatari and international oil companies plan to spend more than 55 billion dollars in the next decade on hydrocarbons projects, according to an oil official in Doha this week. SIGNIFICANCE: Qatar has developed a strategy to reduce dependence on oil and maximize its other hydrocarbons resources, and has undertaken significant economic and political reforms. The vigor with which it has pursued these could provide a model for other Gulf states. Reforms fuel growth boom(2005) North Africa is a good place to do business. North African companies dominate the top companies rankings, be they the oil and gas companies of Algeria and Egypt; tourism companies in Tunisia and Morocco or construction, telecoms and IT businesses throughout the sub-region. Egypts foreign reserves broke the $17 billion level to record $17.32 billion last February, compared to $16.6 billion in January. The formal economy is still dominated by the oil and gas sector, with Sonatrach accounting over 40% of GDP and 95% of exports. The telecoms sector has also posted strong growth. In the year September 2004, Orascom Algeria, through its subsidiary Djezzy, saw its revenues increase five-fold since 2002, from $107 million to $523 million. Algeria, through Sonatrach, is now the second largest supplier of gas to Europe after US: mixed blessings(2006) Its a great time to be in the US petroleum storage business. With imports of crude oil and gasoline reaching record levels and domestic refineries churning out products at an almost unprecedented pace, utilization rates have continued to climb at the tank farms that serve the energy industry. In many parts of the country, terminals are operating at or near capacity. In response to these favorable market conditions, the industry has experienced some expansion, with master limited partnerships (MLPs), such as Valero, leading the way. Magellan Midstream Partners (MMP) recently added 0.6 million barrels of capacity to its refined-products terminals in Corpus Christi, TX, and Marrero, LA. Because of the long lead time required, the decision to add tankage is not one firms take lightly. Some terminal companies are opting instead to expand capacity through acquisition, continuing the trend towards industry consolidation. Growth rate in India may dip due to oil prices, inflation (2006 ) New Delhi, Sep 3 Indias scorching economic growth rate, the second fastest in the world after China for the last three years, is expected to slow down this fiscal due to high international oil prices and fear of high inflation. The Confederation of Indian Industry (CII) is sticking to its June projection of India clocking around eight percent growth in 2006-07, less than the economic growth of 8.4 percent last fiscal. The estimate of lower growth, the leading industry lobby states in its latest State of the Economy (SOE) report, is based on expectations of higher inflationary pressures strives, some problems, and oil industry earnings growth is slowing down(2007) The giant oil company, formed by the merger of HPCL. and Amoco Corp. in 1998, has set the bar high with production growth targets that exceed those of its competitors. Oil Gas(2009 ) The oil and gas industry has been instrumental in fuelling the rapid growth of the Indian economy. The petroleum and natural gas sector which includes transportation, refining and marketing of petroleum products and gas constitutes over 15 per cent of the GDP.Petroleum exports have also emerged as the single largest foreign exchange earner, accounting for 17.24 per cent of the total exports in 2007-08. Growth continued in 2008-09 with the export of petroleum products touching US$ 23.63 billion during April-December 2008.In November 2008, the Cabinet Committee on Economic Affairs awarded 44 oil and gas exploration blocks under the seventh round of auction of the New Exploration Licensing Policy (Nelp-VII). The overall number of blocks brought under exploration now exceeds 200.The allocation is likely to bring in investments worth US$ 1.5 billion. The eighth round of auction is going to be later this year. Govt may hike petrol price by Rs2 a litre, diesel by Re1 (2009) The government has been mulling decontrolling petrol and diesel prices for couple of months now but may be fast losing the window as the move would now result in steep rise in fuel prices Oil India plans IPO to raise as much as $570 mln( 2009) NEW DELHI, Aug 25 (Reuters) Explorer Oil India Ltd plans to raise as much as 27.8 billion rupees ($570 million) through an IPO next month, a senior official said, making it the second state-run firm to offer new shares to the public this year.Oil India, which deferred an IPO last year amid the global financial crisis, has set a price band of 950 rupees to 1,050 rupees a share, Director for Finance T. K. Ananth Kumar said by phone on Tuesday.We have set an exploration and production programmed for the next two years where we will use the IPO proceeds, he said.Oil India, which is tasked with scouting for oil and gas along with larger state-run rival Oil and Natural Gas Corp (ONGC.BO), has planned to invest 45 billion rupees in exploration and production over the next two years, he said. Some alternate fuels show growth rate(2009) A lot has been written lately about natural-gas powered vehicles. A story appeared Feb. 16 in the Oil Gas Journal by Sam Fletcher that pointed out that natural gas has been around as a transportation fuel since World War II.Natural gas vehicles have increased dramatically in recent years from 1.7 million vehicles worldwide in 2001 to more than 7 million today. NGVs have increased rapidly in Europe and South America primarily because of environmental concerns and rising prices for crude oil, gasoline and diesel. The International Association for Natural Gas Vehicles predicts a growth rate of 18 percent, which represents about 65 million NGVs by 2020. Chapter-3 3.1Objectives of Study The objective of the research is to study the growth rate of Hindustan Petroleum. It includes following:- Growth of Hindustan Petroleum as compare to the other petroleum companies. To study the brand image of the Hindustan Petroleum. To analyze the satisfaction level of the customers for the services of Hindustan Petroleum. The objective of the model is also to predict the behavior of a customer, regarding consumption of Hindustan Petroleum . Over all study of marketing process . Chapter-4 Research Methodology 4.1Sampling Plan:- Universe: The area of study is Jalandhar and nearby areas. Sampling Procedure: In this study, the respondents were chosen through convenience sampling was undertaken where all the accessible persons were contacted by tracing them from the records. Contact Method: The respondents were contacted personally and information was derived and questionnaires were filled. Sample Size: 100 Sampling Technique: A non-probability sampling technique i.e. convenience sampling is used. 4.2Research Design:- Research design is simply the framework or plan for a study used as a guide in collecting and analyzing the data. It is the blue print that is following in completing a study. The research design must be accordingly. Formulating objective of the study. Designing the method of data collection. Collection of data Suggestions and recommendations. Conclusion and interpretations. Research includes questionnaires, observations and facts used to find enquiries of different kind. Questionnaires for customers and retailers are framed out to get to know the main problems of both customers and retailers. 4.3 Source of Data Collection:- PRIMERY DATA- It is the data which is collected initially for the first time. It helps in the validation of secondary data from secondary sources. The main sources of primary data are questionnaires, observations, personal interactions, interviews. SECONDARY DATA- Secondary data is the details that are available in the form of facts and figures. The sources of secondary data are; Magazines, journals, websites, books. In this research both primary and secondary data is used to get the accurate information. 4.4Research instruments or tools used:- Research instruments or tools used for collection of information are questionnaires, study of market, information collected from website. Through questionnaires customers and tell about the services provided by Hindustan Petroleum. They also give details about their problems. They give their suggestions for the improvement in the services. Their answers and information collected through websites, magazines and newspaper tell about the market position of Hindustan Petroleum. These tools help in analyzing and interpreting the result of the research. Analytical Design:- Mathematical tools like mean score; percentage, chi square test and Z- test etc were used. Limitations:- I do think that there were some limitations in collecting the data from both primary and secondary sources. The main boundaries were: Some customer may not have given the actual information because of lack of time. The results found are bound to change with every introduction of new schemes by any of the brands. Some people manning the outlet did not share the required information with the research investigators. Data collection error may be there to wrong response from respondent as some time they are not right person who takes actual decision. As per knowledge data was collected and analyzed, error may be there Chapter-5 Interpretation The above data is showing the growth of Hindustan Petroleum. The table is showing the growth in sales of Hindustan Petroleum in terms of cost of goods sold, EBITDA, IBECC, and Sales per employee. Now first of all we will study the sales of Hindustan Petroleum, the above data is showing the figures from the year 2003 to 2009. In 2003 the sales was -2.1% which is showing the lose of Hindustan Petroleum. It is showing the declining situation of the company, but if we will see the figures of 2004 then we will come to know that there is a quick rise in the sales of Hindustan Petroleum from -2.1% to 6.0%, which is very good for the growth of the company. Like this only if we will see the data of 2005 then there is a shocking growth in the sales of Hindustan Petroleum from 6.0% to 13.9%. But if we will look on the sales of 2006 the growth then there is a slow down in the sales of Hindustan Petroleum. If we will see the sales from 2007 to 2009 then we will come to know then the sales of Hind ustan Petroleum is continues rise in sales. Same is the condition of cost of goods sold and EBITDA there is a continues rise in sales. If we will talk about the sales per employee then we will come to know that there is increase in sales per employee because the numbers of employees are also increasing. So we can say that if the number of employees will increase then the sale per employee will also be increase. So the overall table is showing the growth of sales of Hindustan Petroleum. Analysis of the Respondent of Customers The questionnaire (given in the end of the report) was used to gather information on the following areas: Where does Tata Hindustan Petroleum stand in the market against the other petroleum players? Problems of the customers regarding the service provided by Hindustan Petroleum. Suggestions and recommendations taken from customers. Sample Size: 100 Sampling Area: Jalandhar Analysis has been done with the help of software named SPSS i.e. Software of Processing of Social Sciences. Main methods used for the analysis are Factor Analysis, Z-test, and Mean Ranking as per the necessity of the question. It helps in determining the results on the basis of the answers given by customers who are using the service of Hindustan Petroleum primarily and secondarily. This software is very beneficial for getting the results. It is not time consuming and easy to operate. We just have to fill the answers in the SPSS sheet we get the required outcome in fractions of seconds. Chapter-6 Summary, Conclusions Recommendations 6.1Summary This term paper is about the growth rate of Hindustan Petroleum. The survey has been done in Jalandhar and nearby places. This research also helps in gaining lots of practical knowledge which is different from mere theoretical knowledge. The term paper contains the introduction of the Hindustan Petroleum. We are here in technological age. In the market which are providing different products and services to their customers so that they can sustain in this era of tough competition. Now, India is coming up with new concepts to become a developed country in the world and also trying its best to provide all the available resources to its people. In this project both primary and secondary data is collected to analyze the market properly. After collecting the data from primary and secondary sources, analysis has been done with the help of SPSS. Through this survey we come to know that growth rate of Hindustan Petroleum is increasing day by day . 6.2Conclusions The survey has been done to take certain parameters which are essential for good petroleum service parameters. This survey has done in Jalandhar and nearby areas. The main conclusions that I have figure out are following: Hp has a good brand image in the market. Due to which customers buy their product. Advertisement play very effective role in promoting products. HP is able to provide the information of new schemes and products to the costumer on time. HP is successful to solve the problems of costumer on time. 6.3Recommendations After doing the analysis of study we come across the number of conclusions. Hindustan Petroleum is facing number of problems in the market due to other companies. But as India has a huge market for business so there is a scope for those who really want to do something for themselves as well as for people. The main recommendations for Hindustan Petroleum are given below which can help it to improve and pick up its position. HP should work on its marketing strategies so that it can gain the attention of more and more people. More and more advertisement should be given . Seriously deals with the problems of customers. This may forces the customers to be loyal toward this brand. It should provide information about new schemes to its customer on time . References Reference to a book: Kothari, C.R. Research Methodology, 4th edition. New Delhi: Kalyani publishers,2007 Kotler, Philip, (2006), Marketing Management: Planning, Analysis, Implementation and Control, New Delhi, Pearson Education, Inc. Naresh K. Malhotra., (2005), Marketing Research, New Delhi: Pearson Education, Inc. Reference for an article: http://www.livemint.com/Articles/keywords.aspx?kw=Hindustan%20Petroleum http://www.ibef.org/industry/oilandgas.aspx http://proquest.umi.com/pqdweb?index=0did=824057411SrchMode=1sid=3Fmt=4VInst=PRODVType=PQDRQT=309VName=PQDTS=1256141933clientId=129893 http://proquest.umi.com/pqdweb?index=7did=982527671SrchMode=1sid=2Fmt=3VInst=PRODVType=PQDRQT=309VName=PQDTS=1256141881clientId=129893 http://proquest.umi.com/pqdweb?index=10did=783954681SrchMode=1sid=2Fmt=2VInst=PRODVType=PQDRQT=309VName=PQDTS=1256142461clientId=129893 http://proquest.umi.com/pqdweb?index=11did=676362041SrchMode=1sid=2Fmt=2VInst=PRODVType=PQDRQT=309VName=PQDTS=1256142461clientId=129893 http://proquest.umi.com/pqdweb?i

Sexism in the Media

What comprises sexism and feminism? Do sexist images in the media have an impact on women and girls? And, what are the broader political issues here? I am hoping that we can reframe the debate around sexism and nudity in the media in a way that makes sense for socialists. We’re all probably aware of sexist representations in the media from newspapers and magazines to the movies, TV and radio. For example, Rolling Stone magazine didn’t used to be a soft porn magazine, but it is so common now for female musicians to be in soft-porn poses on its cover.Howard Stern, the radio DJ, is always asking his female guests and callers what they are wearing. Stern focuses heavily on women’s physical attributes for the titillation of his male listeners. We also see many movies each year where the female characters are there solely to support and gratify the male characters. Magazines often show only pieces of a woman, such as her legs, or torso so that women are seen as pieces of a human being, reduced to only body parts, which are usually hyper sexualized for male stimulation.The currently popular TV show Desperate Housewives has a predominantly female audience, but tends to appeal to male viewers with story lines involving the women in their underwear or locked out of their houses nude. Soft-core pornography is the staple of many mainstream men’s magazines such as Maxim. In the past decade the decline of the mass movement, and the capitalist’s promotion of escapism, has been at the cost of increased degradation of women in the media. Women’s MovementWebster’s Dictionary defines sexism as â€Å"attitudes or behavior based on traditional stereotypes of sexual roles† or â€Å"discrimination or devaluation based on a person’s sex. † According to Webster’s, this word came into usage in the period of 1965-1970 and was modeled after the word racism, which itself came into use in the 1865-1870 period, duri ng the revolutionary days of Reconstruction in the South. The timeline of the creation of the word sexism gives us an idea of the dramatic change in the consciousness of women in the 1960s and 70’s, which was directly influenced by the civil rights movement.However for a word with such a short history, a mere 40 years later, capitalism is trying to make women believe that sexism no longer exists. In my research for this introduction, I came across discussion of something termed â€Å"post-feminism† which argues that the old ideas about what is sexism and who is a feminist no longer apply. That it is not sexist, but merely ironic, that naked women are used in advertising such as the TV ad where Nicolette Sheridan from Desperate Housewives dropped her towel in front of a football player to get more men to watch the NFL.The idea is that women are now in control of their bodies and that to object to the use of a nude woman in an advertisement is actually an attempt to repr ess that individual woman’s sexuality, or an expression of prudishness, and not a comment on the exploitation of women for financial gain. The Repackaging of Sexism & Feminism Feminism is being repackaged and portrayed as a repressive police force telling women what not to wear, how to have sex and not allowing women â€Å"to live their personal lives without the constraints of a rigid ideology,† as one post-feminist writer put it.On the positive side women, and especially young women, are more confident about their sexuality, but for some women this liberation is expressed through the assumption of some of the roles, attitudes and sexual behavior previously more common among men. This is what one so-called feminist writer described as a shift from the old ‘victim feminism’ to the new ‘power feminism. ’ In fact the shift is away from challenging the old male-dominated status quo and toward finding a place within it.Christine Thomas in her arti cle The New Sexism writes about this shift in feminist thinking. She writes about the recent trend of the increased acceptance of strip clubs and lap dancing club; â€Å"Lap dancing, it is argued, is empowering not exploitative because, when ‘dancers’ can earn as much as $800 a night, they’re often earn better money than the men they’re stripping for. As one student told the BBC’s Inside Out program: â€Å"I work when I want to. I make the amount of money I want to, and if I don’t feel like it I can quit.No-one is pushing me to do it. † â€Å"But contrast this with the comment of a regular frequenter of lap dancing clubs: â€Å"It makes me feel like a king to be sitting there with all these women surrounding me, giving me loads of attention. Nothing beats the thrill of calling a woman over, sitting her down and talking to her, knowing that if you give her money she is going to take all her clothes off. It’s great to have that kind of control, that power, and it’s an ego boost to have all girls competing with each other to dance for you. â€Å"However empowered individual dancers might feel (and of course not all dancers are well paid) lap dancing itself promotes the idea that women are not thinking ‘whole’ beings but body parts – objects available for men to control and enjoy. † 1 This new ‘feminism’ also represents a shift from a collective to an individualistic approach to women’s equality. If a given woman feels oppressed, feels exploited, or feels demeaned, it is because something is wrong with her. Perhaps she is not aggressive enough or not motivated enough.She has not figured out how to advance within the current system. When women buy into the basic concepts of capitalist culture, the new â€Å"feminists† imply, as many doors will open for women as for men and they will no longer be victims. The new ‘post-feminism’ also ar gues that the male dominated empire is crumbling and that more women than ever are now in positions of power. However, we know who these powerful women are: Margaret Thatcher, Hilary Clinton, and Condoleeza Rice. They actually represent a step backwards for women’s equality.Condoleeza’s promotion to Secretary of State reinforces the illusion that racial and gender discrimination no longer exists and that failure to succeed is only the failure of individuals to take advantage of their opportunities. Her work for the Bush administration is helping to increase the attacks on all workers, women and men, which in turn especially increases the burden economically on women. Her promotion represents no change whatsoever for the status quo and for the reality of working class women across the United States. How Equal are We? Women today still consistently make less than men for fulltime work in the same jobs.In statistics from 2002, nationally women average 78% of men’s pay for all jobs. Among the highest paid professionals (doctors and lawyers) women only make from 58-76% of men’s average pay and they make up about a third of the workers in these jobs. On the other hand, those jobs that are predominantly occupied by women such as cashiers or child care workers; women make about 95% of men’s wages. But the average weekly wage for men and women is very low at $250-$300 per week. Also, traditionally unionized jobs like nursing and construction have higher average weekly wages and women make about 91% of men’s pay. 2However, the startling fact is that in the Bureau of Labor Statistics information from 2002, out of hundreds of job categories, there is not a single job where women make more money than men do. There are also a radically higher proportion of women than men living in poverty in the U. S. For many American women, violence is also a nasty reminder of the inequality in this society. Estimates of non-fatal domestic violenc e against women range from 1 million to 4 million a year with nearly 1 in 3 women experiencing a physical assault from a partner in adulthood. Women have a 10 times greater likelihood of being victimized by an intimate than men.Also, 33% of all women murdered are murdered by an intimate partner. In fact the leading cause of death among pregnant women is not complications from pregnancy, but murder. 4 The sexist representations of women in the media are a direct reflection of this economic and social inequality. But these images also serve to reinforce the lower status of women not only through showing us as a commodity to be packaged for men’s enjoyment, something to be controlled, but also by directly undermining women’s self-esteem and emphasizing the unattainable ideal of a ‘perfect’ woman. Up to 80% of American women are issatisfied with their appearance. Much of the marketing of the ideal woman is targeted at women directly. Women’s magazines, both in articles and advertisements (and it is often difficult to distinguish the two) carry a lot of ideas about the ideal woman. In addition 1 out of every 3. 8 television commercials carries some sort of â€Å"attractiveness message. †5 Media Images and Girls The American Society of Plastic Surgeons reports that 82% of all cosmetic surgical procedures are performed on women. The most common procedures are liposuction, breast augmentation, nose reshaping and eyelid surgery.In the years from 1992 to 2003 total cosmetic surgical procedures increased by 192% with breast augmentation increasing by 657% and liposuction by 412%. 6 Not only are women reshaping their bodies in record numbers to try and fit some type of female ideal, but girls are influenced by this pressure as well. Some 81% of ten year-old girls are afraid of being fat and 51% of 9 and 10 year-olds feel better about themselves if they are on a diet. Of normal dieters, about 5-6% will progress to partial or full sy ndrome eating disorders. 7Eating disorders often start for women in their teen and pre-teen years, and represent an extreme attempt to control one’s body. It may not seem such a distorted priority to young girls to achieve the perfect body through self-punishing starvation or vomiting when record numbers of adult women are voluntarily subjecting themselves to invasive surgeries. Now this process is being accelerated and normalized through TV shows such as Extreme Makeovers and The Swan. Here, mostly women are shown going through a series of major cosmetic surgeries.In The Swan a prize goes to the best makeover. Capitalism sends mixed messages to women that only create anxiety. Their perfect woman is young, thin, and never has acne. However, the unhealthy food big business pushes at us makes this perfect woman even more unattainable. Not only do they profit from selling us this bad food, but the food itself almost guarantees that we will need to spend more money on cosmetics, dieting, surgery, or antidepressants if we buy into this ideal woman concept. We can’t talk about sexism’s effect on women without also iscussing its effect on men who are also damaged by it. From boyhood, men are sent the message that women are here for their pleasure and that they are primarily commodities for their consumption. If this idea is completely internalized, it makes men unable to connect with women in any but the most superficial way, and cuts them off from a deeper understanding of both themselves and women. Just as the oppression of women has forced women in general to develop a more skillful understanding of human relations, so too male privilege tends to stunt men’s relationship skills.Also, for men that have themselves experienced abusive upbringings, it makes them more likely to be trapped into attempting to control women through physical or emotional abuse. Sexism and Capitalism’s new Moral Divide In the 1984 movie, This is Spinal Tap – the fake documentary about an English heavy metal band, a female record company executive lets the band members know that they have concerns with the band’s album cover. They feel that the image of a naked woman wearing a leash and dog’s collar is sexist. â€Å"Sexy,† one of the band members says, â€Å"what’s wrong with being sexy? †There is enormous confusion today surrounding this difference between what is deemed sexy and what it sexist in the media. The recent media hype around the Janet Jackson breast exposure incident and the uproar over the NFL commercial I previously cited are examples of how this discussion is being spun in the media: as the relentless sex-oriented focus of popular culture verses the purity of family values. In an era where some women are losing access to services that help them control their bodies reproductively, we are now seeing the control of images of women’s bodies as an issue in the media.The new ‘feminists’ would have us believe that the ultimate control of an individual woman’s body belongs to the woman herself and so the images are not discussed in the context of sexism. The liberals argue that a woman’s naked body is no big deal and can’t we be mature and realize that it’s just a woman’s body; failing, like the guy from Spinal Tap, to distinguish between sexy and sexism. The family values coalition argues that it is damaging to children to be exposed to nudity and the subject of sex; making it appear that any outrage is due to prudishness.The argument goes that these are the opposing interests in the discussion – leaving little voice for most people. Is it possible that this divisive construct is promoted by the media itself to obscure the real issue? The real issue is the exploitation of a woman’s body and sexuality for the purpose of selling products: magazines, TV shows, movies, football games. If we unders tand it this way, then we have a way to object to the objectification of women without falling into the trap of prudishness.We can condemn CBS and the NFL not for showing us Janet Jackson’s breast, but for exploiting her desire to further her career and the captive audience of viewers to boost ratings, which in the end makes more advertisement money for them. Capitalism typically creates and exploits divisions for the purpose of undermining working class solidarity. Sexism undermines the solidarity between men and women. By failing to point out capitalism’s role in this issue, we can allow a new threat to class solidarity to take root. This non-class based division, created by the media, the so-called â€Å"moral divide. A New Mass Movement The current trends in the media represent a step backwards for women in the struggle against sexism and exploitation. This is another facet of the global phenomenon, regardless of gender, of working class people being attacked more fiercely by the capitalist class. The current onslaught of sexism, besides undermining class solidarity, also serves capitalism by expanding markets for diet and beauty products and for surgery. It also represents a huge drain on the resources of an individual woman.With her self-image and self worth constantly under attack, it is no surprise that some women have fallen into an individualistic, superficial, self-absorption, spending less time fighting to change the workplace and the community. Especially with the failure of working class and women’s organizations to fight on concrete issues that are important to women. However, just as in the 1960s, a mass movement gave birth to the women’s movement and sexism even started to be talked about, so too a new mass movement of workers that confronts capitalism will also confront sexism. Working class women will be at the fore of such a movement.In fact, women play a key role in many community struggles. LMV has been involv ed in the Campaign for Renters Rights a direct action group in which women took the leading role in fighting off Section 8 housing cuts. 8 In the 70’s we saw how differently women could be treated in the media with real stories about real women. There was a trend toward increased realism in TV and film including the portrayal of women. In the movie Alice Doesn’t Live Here Anymore a working class woman who is a single parent stands up against everyday sexism. The central character is a woman who is strong, funny and insightful.The scarcity of movies like this since the 70’s with strong female characters confirms the degeneracy of not only the popular media but of capitalism itself. Socialism, on the contrary, will not only achieve material equality between men and women, but also allow both men and women to better explore their own individuality, and break free of the base superficiality that market capitalism promotes. January 2005References 1 Christine Thomas , The New Sexism, Socialism Today Issue 77 Sept 2003 2 The Bureau of Labor Statistics, Median usual weekly earnings of full-time wage and salary workers by detailed occupation and sex, 2002 annual averages. Domestic Violence Statistics, District of Columbia Coalition Against Domestic Violence at www. dccadv. org More stats from National Domestic Violence Hotline at www. ndvh. org. 4 Kim Curtis, Murder: The leading cause of death for pregnant women. Associated Press April 23, 2003 5 National Eating Disorders Association at www. nationaleatingdisorders. org 6 American Society of Plastic Surgeons at www. plasticsurgery . org 7 National Eating Disorders Association 8 For more on this struggle see www. laborsmilitantvoice. com

10 Facts About Chameleons

Conflict of Laws - Analysis of the Case of Re Midleton...

MATRIC NO: 060601109 COURSE TITLE: CONFLICT OF LAWS COURSE CODE: JIL 421 LECTURER: MRS. AJIBADE GROUP: 2 TOPIC: CHOICE OF LAW RULES RELATING TO PROPERTY IN CONFLICT OF LAWS WITH AN EMPHASIS ON THE CASE OF RE MIDLETON’S SETTLEMENT INTRODUCTION Conflict of laws involves situations when there is a foreign element in a case. There are three main questions which arise for determination in conflict of laws: choice of jurisdiction, choice of law, and recognition and enforcement of foreign judgment. This work relates to choice of law rules in conflict of laws as regards property with a special emphasis on the case of Re Midleton’s Settlement. Before delving into the principles†¦show more content†¦PRINCIPLES DERIVABLE FROM THE CASE - The law of the place were the property is situated (Lex situs) determines the characterization of property when problems arise, if things that are physically movable are moved from a jurisdiction which regards them as legally immovable to a jurisdiction which regards him as legally movable. The new lex situs determines their character as held in the case of Re Hoyles. - Shares and securities are deemed to be situated in the place where between the shareholder and the company, they can be effectively dealt with according to the law under which the company was incorporated as held in R v WILLIAMS and BRASSARD v SMITH. - For equitable conversion to apply based on the principle of equity, which regards as done that which ought to be done, there must be an obligation or a direction for sale as regards sale of land. - No country takes notice of the revenue laws of another. HOLMAN v JOHNSON per Lord Mansfield and as stated in the case of MUNICIPAL CITY COUNCIL v BULL and GOVERNMENT OF INDIA v TAYLOR by the House of Lords. This principle is applicable on the basis that the settled Land Act 1882, section 22(5) applicable in Ireland by virtue of the Irish free state constitution is only applicable in Ireland and cannot be extended to apply to matters relating to English revenue that is English shares securities, which are to be governed by English revenue law,