• Journal of the Korean Operations Research and Management Science Society
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• v.6 no.1
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• pp.57-64
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• 1981

The continuous increase of crude oil consumption has struck great impact into the world economy, When we consider disadvantageous articles in contract for oil import, it would be desirable to import in batch the total quantity of crude oil contracted, but which is not available under the present situation which has many constraints This paper treats of the ways to deliver the crude oil in a given period so as to maximize the profit derived from the sales of oil products, To do this we should consider the prices of crude oil and oil products, inventory cost, transportation cost, oil refinement cost, and fluctuations of these parameters in a given period. The case of Korea Oil Corporation is treated in this paper to generalize the problem of crude oil transportation from Middle East and formulated in a mathematical programming. This programming is transformed into Dynamic Programming through specifing states, stages, payoffs, and recursive function. To clarify these procedure and methods, the case of Korea Oil Corporation is dealt with again and demonstrated in detail.

• Journal of Korea Ship Safrty Technology Authority
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• s.27
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• pp.2-14
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• 2009

In these days, oil cost is about 70 US dollars, but, on the day of July. 2008, it was over 140 US dollars. This coast led fisheries industry to increasement of operating coast and made public problems such as non-operation of fishing boats and lockout of the related factories. Thus this paper studies the way to use cheap fuel in order to reduce the fuel cost. Normally fishing boat use Marine Gas Oil. this study explains to use blended oil such as MF 60, 100, 180 instead of MGO.

• Journal of Navigation and Port Research
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• v.35 no.9
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• pp.765-776
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• 2011

For container shipping company, fuel oil prise is a considerable expense. Since 2008, fuel oil prises have risen dramatically. An increasing fuel oil price in container shipping, in the short term, is only partially compensated through surcharges and may affect earnings negatively. This study discusses the impact of an increasing fuel oil price and capital costs for vessels on the Asia-Europe trade of 'H' Shipping Company. According to the result of 'H' carrier's operation in 2008, there were no cost differences between 8 and 9 vessels operations in case of fuel oil price with USD 169/tons while adopting USD 31,818 as a fixed cost. We can expect that the fuel oil price will not go lower than USD 200/Ton on the basis of current high oil price phenomenon. When the fuel oil price is over USD 200/ton, 9 vessel operation is more economic than 8 vessel operation even if the fixed cost is over USD 35,000.

• Journal of Environmental Impact Assessment
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• v.7 no.2
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• pp.89-102
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• 1998

The purpose of this study is to seek AEI(Air Environmental Indices), PSI(Pollutant Standard Index) and the urban air quality control goal(the best available alternative energy program) by assessing the best ratio of energy types used in urban enterprises, based on harmful health effect and air quality standard and costs. This study is focused on an urban area(Puchun), where area sourcees are associated with heavy traffic, large population, and its industrial sources with large emissions. In the first step, air modeling, estimation of AEI and PSI, and benefit-cost analysis were carried out. In the second step, we assessed that 660 scenarios about the ratio of B-C oil, light oil and LNG used in urban enterprises with regard to air quality and cost. In the third step, the best available alternative energy program was selected for the ratio of energy species(B-C oil, light oil and LNG) by using the lexicographic method. From the emission analysis, main source of $NO_2$ is identified as industries and air quality is evaluated according to the ratio of B-C oil, light oil and LNG used in urban enterprise. The modeling data of TSP, $SO_2$, $NO_2$, CO, $O_3$, by ISC3 and PBM are respectively $118{\mu}g/m^3$, 0.027ppm, 0.025ppm, 2.0ppm, 0.55ppm in indurstrial area. That data are close to Environmental Air Quality Standard. By means of sensitivity analysis, we obtained the difference in concentration between the areas(Nae-dong, Joong-dong) according to the ratio of B-C oil, light oil and LNG used in the industries. From the result of alternatives assessment the lowest AEI value and cost, the ratio of B-C oil, light oil and LNG are 2.5%, 20%, 77.5%, respectively.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2012.05a
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• pp.319-320
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• 2012

International oil prices is the world's leading macroeconomic indicators. Rising international oil price has been worsening. profitability of construction company including material cost as well stagnation in housing market. Thus, according to fluctuations in international oil prices has cost index need to see any change happening there. in this study, 2000 to 2011 interest rates, exchange rates and oil price fluctuations in construction cost is to compare the impact.

• 한국해양학회지
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• v.11 no.2
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• pp.57-63
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• 1976

It was attempted to analyze the sensitivity of the oil prospect place named MARIA which placed inside Gulf of Alaska. For the analysis, P6031090, ECOANA( computer) which installed in the head office, Shell Oil Co was used and the data needed for computer programming were 1) Unit of Production data 2) Production Schedule 3) Total Gross Yearly Expenses and 4) Total Gross Capital and so on. The important data among the computer output 1) PVPAT (Present Value After Tax): $1,167,077,500 2) Payout After Tax: 3.14 Years (256,284,810 BBL Production) 3) Earning Power: 42% (After Tax) 4) PVPAT/BBL : $1.22 5) Capital/BBL : $2.00. On the other hand, the effect acted upon PVPAT with varying the Platform cost, Facility cost, Pipeline cost and Well cost was observed in comparion with the basic for range from 50% to 200%. Resultantly, the order was 1) Pipeline cost 2) Facility cost 3) Well cost 4) Platform cost for range form 100% to 200%. This project was completed by the contract with Shell Oil Co., and the geological data needed for this analysis were given by the head office and the development project started from Jan. 1976.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• 2009.06a
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• pp.173-174
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• 2009

For container shipping company, fuel oil prise is a considerable expense. In the last 3 years, fuel oil prises have risen considerably. An increasing fuel oil prise in container shipping, in the short term, is only partially compensated through surcharges and will therefore affect earnings negatively. This paper deals with the impact of increasing fuel oil price and capital costs for vessels on the number of vessels on the Asia-Europe trade. As per result of 'H' carrier's operation in 2008, there were no cost difference between 8 and 9 vessels operation in case the fuel oil price is USD 169/tons while adopt USD 31,818 as fixed cost. We can expect that the fuel oil price will not be decreased under USD 200 $/Ton on the basis of current high oil price phenomenon. When the fuel oil price is over USD 200 $/ton, therefore, 9 vessels operation is more economic than 8 vessel operation even if the fixed cost is over USD 35,000.

• Environmental and Resource Economics Review
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• v.25 no.4
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• pp.517-543
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• 2016

This study aims to analyze economic impacts for changes in the oil cost of the anchovy boat seine fisheries in South Korea. As analytical approach, this study employs the exponential surplus production model to estimate the maximum sustainable yield and also utilizes the bioeconomic model to calculate changes in producer surplus of the anchovy boat seine fisheries under the open access responding to changes in the oil cost. As the result of analysis, increases in the oil cost due to prohibition of duty-free oil supply result in the negative impacts to the producer surplus of the anchovy boat seine fisheries in South Korea. However, increases in the oil cost of the anchovy boat seine fisheries lead voluntary exit to fishermen which can no more run their business. As a result, this study shows that fishing efforts of the anchovy boat seine fisheries reduce under the fishing efforts of the maximum sustainable yield ($F_{MSY}$) and stock of the anchovy increases.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.41
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• pp.169-183
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• 2009

This study has been conducted under the background of the high rocketed international oil price in the mid of the 2008 year. Korean logistics industry then suffered from a harsh labor strike which paralyzed temporarily Korean exports and imports activities mainly due to the rising motor fuel prices. The theme of this study started from the highly practical question: what would be the impact of the soaring crude oil price on the cost structure of the Korean logistics industry? For this practical question this study conducted an input-output analysis utilizing the 2003 year benchmark input-output table, published by the Bank of Korea in 2007.

• Environmental and Resource Economics Review
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• v.25 no.2
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• pp.255-276
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• 2016

This paper is designed to investigate the dynamic structure of optimal tariff imposed by the oil importing country from OPEC when OPEC increases the oil reserves through exploration and development. For this purpose, we used a Stckelberg differential game modeling approach, and tried to analyze two cases such that the one is the extraction cost is dependent on the oil reserves and the other is the extraction cost is independent of it. On the basis of this analysis, we propose that the importing contry has to impose dynamically inconsistent tariffs if the extraction cost is dependent on the oil reserves. Otherwise, she should impose dynamically consistent tariffs announced at initial time. In addition, we found that whether or not the exporting country uses some portion of oil produced for domestic consumption does not affect our policy proposition stated above.