problem 1) Describe the ‘concept of costs’? describe its significance in the industry, with regard to total average, marginal, fixed and variable costs.

problem 2) What is the need for flaring in the oil industry? Describe the concept of smokeless flame and describe various factors associated with it.

problem 3) Describe the air pollution caused and its effects with reference to the case study of upper Assam oil field.

problem 4) Describe the concept of soil pollution in an oil industry. Describe, giving appropriate exs, the ill effects of soil pollution, due to oil industry, on human health & control measures.

problem 5) prepare notes on the following:

a) Sources of oil spill and its prevention.

b) Control of noise pollution in oil industry.

c) Types of air pollutants in oil industry.

d) Air pollution during drilling operations.

e) Groundwater pollution during oil production.

problem 6) What are acceleration projects in oil industry? Describe any one of them in detail, giving appropriate ex.

problem 7) Define and describe the present day value (PDV) concept and its effects on project analysis in oil industry.

problem 8) prepare short notes on the following:

a) Law of variable proportion.

b) Break even analysis.

c) Long term capital expenditures.

d) Environment & project risk in oil industry.

e) Decision node and chance node.