Financial Ratios for East Coast Yachts Free Essays

Question 1: Financial proportions for East Coast Yachts: Current ratio| =| Current Assets| | Debt-value ratio| =| Total liabilities| | Current Liabilities| | Total equity| | =| $14,651,000 | =| $19,539,000 + $33,735,000| | $19,539,000 | $55,341,000 | =| 0. 75| | =| 0. 96| | Quick ratio| =| Current Assets †Inventory| | Equity multiplier| =| Total assets| | Current Liabilities| | Total equity| | =| $14,651,000 †$6,136,000| | =| $108,615,000 | $19,539,000 | $55,341,000 | =| 0. We will compose a custom article test on Money related Ratios for East Coast Yachts or on the other hand any comparable point just for you Request Now 44| | =| 1. 96| | Total resource turnover| =| Sales| | Interest coverage| =| EBIT| | Total Assets| | Interest| | =| $167,310,000 | =| $23,946,000 | $108,615,000 | $3,009,000 | =| 1. 54| | =| 7. 96| | Inventory turnover| =| COGS| | Profit margin| =| Net Income| | Inventory| | Sales| | =| $117,910,000 | =| $12,562,200 | $6,136,000 | $167,310,000 | =| 19. 22| | =| 7. 51%| | Receivables turnover| =| Sales| | Return on assets| =| Net Income| | Accounts receivable| | Total assets| =| $167,310,000 | =| $12,562,200 | $5,473,000 | $108,615,000 | =| 30. 57| | =| 11. 57%| | Debt ratio| =| Total resources †Total equity| | Return on equity| =| Net Income| | Total assets| | Total equity| | =| $108,615,000 †$55,341,000| | =| $12,562,200 | $108,615,000 | $55,341,000 | =| 0. 49| | =| 22. 70%| | Question 2: | East Coast Yachts| | Yacht Industry Ratios| | Lower Quartile| Median| Upper Quartile| Current ratio| | 0. 75| | 0. 50| 1. 43| 1. 9| Quick ratio| | 0. 44| | 0. 21| 0. 38| 0. 62| Total re source turnover| | 1. 54| | 0. 68| 0. 85| 1. 38| Inventory turnover| | 19. 22| | 4. 89| 6. 15| 10. 89| Receivables turnover| | 30. 57| | 6. 27| 9. 82| 14. 11| Debt ratio| | 0. 49| | 0. 44| 0. 52| 0. 61| Debt-value ratio| | 0. 96| | 0. 79| 1. 08| 1. 56| Equity multiplier| | 1. 96| | 1. 79| 2. 08| 2. 56| Interest coverage| | 7. 96| | 5. 18| 8. 06| 9. 83| Profit margin| | 7. 51%| | 4. 05%| 6. 98%| 9. 87%| Return on assets| | 11. 57%| | 6. 05%| 10. 53%| 13. 21%| Return on equity| | 22. 70%| | 9. 93%| 16. 54%| 26. 15%| The liquidity proportion shows that the organization has less liquidity as contrast with the entire business. East Coast Yachts current proportion is beneath the middle business proportion and the fast proportion is situated at the middle business proportion. This shows the organization may access to transient obtaining. Alluding to the turnover proportion, all the three proportions, I. e. all out resource turnover, stock turnover and receivables turnover are higher than upper quartile industry proportion. This demonstrates the organization is increasingly proficient among the entire business in utilizing its advantages for produce deals. The money related influence proportions, which incorporate the obligation proportion, obligation value proportion, value multiplier and premium inclusion, are all beneath the middle business proportion, however higher than the lower quartile. This shows East Coast Yachts is having less obligation than different organizations in the business, yet is still inside the typical range. The net revenue, return on resources just as profit for value of the organization are higher than the business middle. This shows the company’s gainfulness is performing great among the entire business. As a by and large, East Coast Yachts is performing admirably in the business, while more focus would just be required to be set on the liquidity proportions. Question 3: Return on value = 22. 70% Retention proportion (b)| =| Net salary †Dividends| | Net Income| | =| $12,562,200 †$7,537,320| | $12,562,200 | =| 40%| Sustainable development rate (SGR) = Return on value x Retention proportion = 22. 70% x 0. 4 = 9. 08% Increase in assets| =| Assets| x| ? Sales| | Sales| | =| $108,615,000 | x| (167,310,000 x 9. 08%)| | $167,310,000 | =| $9,862,242. 00 | Increment in unconstrained liabilities| =| Spontaneous liabilities| x| ? Sales| | Sales| | =| $6,461,000 | x| (167,310,000 x 9. 08%)| | $167,310,000 | =| $ 586,658. 80 | Retention proportion (b)| =| Addition to RE| | Net income| | =| $5,024,880 | $12,562,200 | =| 40%| | Profit margin| =| Net income| | Sales| | =| $12,562,200 | $167,310,000 | =| 8%| | Increase in equity| =| PM x Projected deals x maintenance ratio| | =| 8% x ($167,310,000 x 1. 0908) x 0. 4| | =| $5,840,055. 94 | External Funds Needed (EFN)| =| Increase in resources †Increase in unconstrained liabilities †Increase in equity| | =| $9,862,242. 00 †$586,658 †$5,840,056| | =| $3,435,527. 26 | East Coast Yachts| | Pro forma Income Statement| | Sales| | 182,501,748| | Cost of products sold| | 128,616,228| | Other expenses| | 21,809,455| | Depreciation| | 5,460,000| (Assume constant)| Earnings before premium and assessments (EBIT)| 26,616,065| | Interest| | 3,009,000| (Assume constant)| Available income| | 23,607,065| | Taxes (40%)| | 9,442,826| | Net Income| | 14,164,239| | Dividends| | 8,221,709| | Addition to RE| | 5,481,139| | East Coast Yachts| | Pro forma Balance Sheet| | Assets| | Current assets| | Cash| | 3,318,214| | Accounts receivable| | 5,969,948| | Inventory| | 6,693,149| | Total| | 15,981,311| | Fixed assets| | Net plant and equipment| | 102,495,931| | Total assets| | 118,477,242| | Liabilities| | Current liabilities| | Accounts payable| | 7,047,659| | Notes payable| | 14,265,482| | Total| | 21,313,141| | Long term debt| | 33,735,000| | Shareholders’ equity| | Common stock| | 5,200,000| | Retained earnings| | 54,693,803| | Total equity| | 59,893,803| | Total liabilities and equity| | 114,941,944| | EFN| | 3,535,298| | Current ratio| =| Current Assets| | Debt-value ratio| =| Total liabilities| | Current Liabilities| | Total equity| | =| $15,981,311 | =| $21,313,141 + $33,735,000| | $21,313,141 | 59,893,803 | =| 0. 75| | =| 0. 92| | Fast ratio| =| Current Assets †Inventory| | Equity multiplier| =| Total assets| | Current Liabilities| | Total equity| | =| $15,981,311 †$6,693,149| | =| $118,477,242 | $21,313,141 | $59,893,803 | =| 0. 44| | =| 1. 98| | Total resource turnover| =| Sales| | Interest coverage| =| EBIT| | Total Assets| | Interest| | =| $182,501,748 | =| $26,616,065 | $118,477,242 | $3,009,000 | =| 1. 54| | =| 8. 85| | Inventory turnover| =| COGS| | Profit margin| =| Net Income| | Inventory| | Sales| =| $128,616,228 | =| $14,164,239 | $6,693,149 | $182,501,748 | =| 19. 22| | =| 7. 76%| | Receivables turnover| =| Sales| | Return on assets| =| Net Income| | Accounts receivable| | Total assets| | =| $182,501,748 | =| $14,164,239 | $5,969,948 | $118,477,242 | =| 30. 57| | =| 11. 96%| | Debt ratio| =| Total resources †Total equity| | Return on equity| =| Net Income| | Total assets| | Total equity| | =| $118,477,242 †$59,893,803| | =| $14,164,239 | $118,477,242 | $59,893,803 | =| 0. 49| | =| 23. 5%| | East Coast Yachts| | Original ratios| | Based on professional forma| Current ratio| | 0. 75| | 0. 75| Quick ratio| | 0. 44| | 0. 44| Total resource turnover| | 1. 54| | 1. 54| Inventory turnover| | 19. 22| | 19. 22| Receivables turnover| | 30. 57| | 30. 57| Debt ratio| | 0. 49| | 0. 49| Debt-value ratio| | 0. 96| | 0. 92| Equity multiplier| | 1. 96| | 1. 98| Interest coverage| | 7. 96| | 8. 85| Profit margin| | 7. 51%| | 7. 76%| Return on assets| | 11. 57%| | 11. 96%| Return on equity| | 22. 70%| | 23. 65%| As noted from over, the liquidity and turnover proportion will stay consistent accepting development decisively at 9. 8%. Obligation value proportion will diminished somewhat while value multiplier and intrigue inclusion expanded, accepting interest stay steady. Slight improvement additionally noted from overall revenue, return on resources and profit for value. Question 4: Growth rate| | 20%| | Increase in assets| =| Assets| x| ? Sales| | Sales| | =| $108,615,000 | x| (167,310,000 x 20%)| | $167,310,000 | =| 21,723,000. 00 | Increase in unconstrained liabilities| =| Spontaneous liabilities| x| ? Sales| | Sales| | =| $6,461,000 | x| (167,310,000 x 20%)| | $167,310,000 | =| $1,292,200. 00 | Retention proportion (b)| =| Addition to RE| | Net income| | =| $5,024,880 | $12,562,200 | =| 40%| | Profit margin| =| Net income| | Sales| | =| $12,562,200 | $167,310,000 | =| 8%| | Increase in equity| =| PM x Projected deals x maintenance ratio| | =| 8% x ($167,310,000 x 1. 2) x 0. 4| | =| $6,424,704. 00| | External Funds Needed (EFN)| =| Increase in resources †Increase in unconstrained liabilities †Increase in equity| | =| $21,723,000. 0 †$1,292,200. 00 †$6,424,704. 00| | =| $14,006,096. 00| | | East Coast Yachts| | Pro forma Income Statement| | Sales| | 200,772,000| | Cost of products sold| | 141,492,000| | Other expenses| | 23,992,800| | Depreciation| | 5,460,000| (Assuming constant)| Earnings before premium and duties (EBIT)| 29,827, 200| | Interest| | 3,009,000| (Assuming constant)| Taxable income| | 26,

A Letter to My Girlfriend essays

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Essay on Imperium in Imperio - 1714 Words

Imperium in Imperio is a novel that focuses on the problem of race in America. Sutton Griggs portrays the tale of a radical yet secret movement, told by two contemporaries. This is the first major political novel written by an African-American. The main characters of the novel confront the torment and conflict of their time. Griggs deploys his characters to illustrate the climate of the day. He touches on such issues as miscegenation, Jim Crow, the political exploitation of the Black man, and the lack of protection of freed slaves (Griggs 8). The novel was published in 1899, during the heat of the Post-Bellum period. At this point in time Blacks had only experienced thirty four years of freedom. The Reconstruction era marked†¦show more content†¦In a time when civil rights relied on the color of your skin, the odds were not in Beltons favor. As a result of his skin tone, he was submersed in racism, which would have a serious affect on his life. Although Bernard was also Black, his life was less bound to torment than that of a dark skinned man. His light skin appearance worked to his benefit and was also to his disadvantage. Both Belton and Bernard were well educated, yet pursued two polar opposite political views. Their upbringing will illustrate and explain why they adopted such opposite perspectives. Although Bernard was favored in school, Belton never envied him. Belton became accustomed to being treated with cruelty and injustice. He performed above and beyond his expectations, in order to disprove those who didnt believe in him. He used the hatred of white people to fuel his passion to convince and teach the white people of the New Negro. By applying his talents he constantly impressed and convinced Whites that Negroes could have intellectual prowess. Both Bernard and Belton lived their lives in this manner; Bernard assuming the role of the intellectual mulatto, and Belton as the surprisingly overachieving New Negro. This distinction worked to Bernards advantage, yet it is contrarily problematic for Belton. Belton is a man of intellect and morals, yet he has no room for error. Throughout his life he strived to excel in the system within whiteShow MoreRelatedAnalysis Of Forest Mcdonad s States Rights And The Union1101 Words   |  5 PagesIn Forest McDonad’s Sta tes Rights and the Union: Imperium in the Imperio, 1776-1876, he simply begins the book by stating the main problem that the United States faced during the first one hundred years of existence: the state and national government authority were not easily separated. Before the time period of which McDonald analyzes, the people of the future country, the United States, lived in England, where the line between state and national government authority was clear. McDonald mentionsRead MoreEssay about Greek Politics5547 Words   |  23 Pagesa matter of considerable contention over time. The consuls, of whom there were two, were the chief civil and military magistrates. They invested with imperium, the power of magistrates to command armies and (within limits) to coerce citizens, and convened Senate and curiate and centuriate assemblies. There were two to eight praetors who had imperium as well. Their main functions were to give military commands and to administer civil law at Rome. The a ediles were the plebeian only and curule, plebeianRead MoreMidterm 3 History Essay8024 Words   |  33 Pagesname meant â€Å"Revered One.† significant because he was the son of a god.  ·   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Which two powers formed Augustus’ basis of authority?   When did he arrange to take them?   What did he rely on prior to taking on these more formal powers? o   Ã‚  Maius Imperium (â€Å"Greater Power†) and Tribunicia Potestas (â€Å"Power of Tribune†) formed Augustus’ basis of authority.  §   Made him sacrosanct  §   Could convene the Senate  §   Could propose legislation to senate o   Ã‚  He arranged to take them during the Second ConstitutionalRead MoreArticle II: Declaration of Principles and State Policies16349 Words   |  66 PagesSUBDIVISION of a nation or a state which is CONSTITUTED BY LAW and has SUBSTANTIALCONTROL of LOCAL AFFAIRS. Unitary System of the Philippines: LOCAL GOVERNMENT can only be an infra-sovereign subdivision of ONE SOVEREIGN NATION. It cannot be an imperium in imperio but only: (1)a measure of autonomy (2)decentralization of the FUNCTIONS of GOVERNMENT Art. X Sec. 2.  The TERRITORIAL and POLITICAL SUBDIVISIONS shall enjoy LOCAL AUTONOMY. Local Autonomy-means more than just decentralization: Decentralization

Oil and Gas Efforts

Question: Discoveries of oil and gas generate much excitement and great effort is put into understanding technical, commercial and legal aspects of field development. In fact however the first challenges to governments are negotiation challenges. Examine and evaluate the key areas and features that governments should focus on during their negotiation process and in the drafting of contracts with the International Oil Companies. Answer: Introduction: The nations that are rich in natural resources tend to use its natural resources for the aim to secure funds for the process of development within the country. The governments of the specific countries have to enter into an agreement and contract to develop the existing resources of the country and also to explore them for the betterment of the country. The contract is made between the government of the country and the oil companies of that specified country (chalmers, 2012). Both of the contract holders have to put emphasize on the technical issue and the commercial understanding about the exploration of oil. But in making this contract successful, the first obstacle which the government usually faces is the process of negotiation. Problems of negotiation: Different developing countries and also different developed countries like - mexico, kazakhstan, and bolivia appraise their natural resources of oil and gas as assets or property of the country. These natural resources are not considered as any private property of an entity or individual, though an individual might be the owner of the surface land or water bodies. The government of the country is the only owner of the underlying natural oil and gas resources, according to the laws of the nations. The main aim of the countries that are rich in natural oil and gas resources is to maximize the participation of oil companies in the country as these companies possess abundant expertise and thus they could properly exploit the natural resources and market them globally (grant, 2012). But at the time of negotiation, these companies face various problems. The reason behind this is that, as these companies are much experienced about the variety of contracts and have greater practical knowledg e regarding the exploitation of natural oil and gasses. The oil companies are highly motivated towards the act of negotiation. Thus, they tend to decrease the costs. This process of negotiation is tailored by the oil companies based on the political condition of the specified country (gustafson, 2012). The process of negotiation of the oil companies is very inflexible, cynical and aggressive. Thus, the contract of negotiation should be done in a proper and systematic way. Development of natural resources: There are three different ways to develop the natural resources of the country by the government; these are as follows Firstly, different foreign companies can be invited by the government of a particular country having its natural oil and gas resources for the exploration and in the process of exploring the government of the specified country should help (hults, thurber and victor, 2012). For example, countries like canada, russia, and united kingdom have applied this methodology. Secondly, for better exploration, the government of a particular country should create new state companies if the government has the capability to invest in establishing new companies (looney, 2012). As this would help the government of the country economically by providing chances of better exploration, much production, and high development. For example venezuela, oman, mexico and saudi arabia have applied this methodology for their economical improvement. Lastly, some countries like nigeria, kazakhstan, and indonesia might apply the combination of both the ways. The parameters of negotiation: The process of negotiation is of high interest for the shareholders. Thus, the size of shareholders is also huge in the worldwide. But the governments show lesser interest or pay lesser interest in the negotiation process. The share holders are more concerned about the negotiation process than the producing countries of natural oil and gasses. Thus, the governments appoints some experts like technical engineers of the related field, lawyers for their legal knowledge in the related field and many more for handling the complex issues (muttitt, 2012). Direct negotiations are done in oil contracts. Negotiations are occurred on indecision as an oil contract is consisted of many complex issues. These types of indecisions are occurred due to the improper awareness of probable oil field, dissociation of the partner of negotiation, or the inability to make predictions of the future. The negotiators who are expert in the field know that the presence of a weak point is common whatever might be the situation, and by using that properly, they get a high chance to win (nikiforuk, 2012). Various types of issues should be considered during the negotiation of the oil contract, these are the costs of exploration, dynamic nature of the existing market, estimated size of the fields and many more, as the list is never ending. To determine the importance of each and every issue of the negotiation of the oil contract, proper judgments and expertise is the most important criteria. As these qualities would help to strike a balance such that the variou s contracts could be made nonidentical to each other. Different issues of the process of negotiation: There are mainly two major types of issues regarding the process of negotiation. These are the zone of conflict and the factors that are not usually paid attention during the process of negotiation. These include the social, political, economical and environmental factors of the specified country. Generally, any particular company spends about 90 90 % time in this particular zone (ross, 2012). This particular zone makes the company to feel that they are in control and thus recruits especially skilled employees. Dealing with indigenous communities: The negotiation of oil is of great importance to different groups of individuals. These individuals might include the surface land owners, indigenous communities and many more. The negotiation of oil is of great important to the indigenous communities because they started to demand for compensation for the usage of their personal property and also for creating disturbance. Formally, these groups are not the main part of the process of negotiation, but still both the principal parties of contracts that is, the governments and the oil companies have to consider their demands in the process of negotiation (larson and smajgl, 2012). Through the process of negotiation, the demands of these local communities are settled down. Their demands mainly composed of offers of jobs or compensation. Thus, the oil companies make commitments that they would provide employment to local peoples in mass as labors and also to give back support in the development process of the local communities. These ne gotiations are heated many times and thus are very time consuming. Time factor: The contracts of oil are negotiated depending on the factors of time responsiveness. These factors include the present political, environmental, social and economical factors in the host country, the probability of variation of these factors in near future, and the current situation of the market regarding the oil price. The terms and conditions of an oil contract should contain the ability to survive the time challenge by the method of anticipation of foreseeable as well as unforeseeable changes and demand. For example, the country norway is known well for its instability, thus, it introduces tax regimes in the favor of the oil companies with the aim to attract the oil companies to invest in the geographical challenging and uncertain terrains (wittcoff, reuben and plotkin, 2013). But norway did not put its future in the endanger by making the rule of taxes permanent and the tax rates were raised within three years. To make the contracts more reactive in the changing world is the on ly way to deal with the problem of insufficient arrangement effectively and efficiently. The stability should be drafted in such a way that the oil companies should be compensated for the various changes of rules and regulations in the law which takes place frequently. The oil companies would not be established in the countries if they have to suffer loss due to the change of laws in the specified country (schwarzenbach, 2012). For example, if a country implements new law regarding the development of the environment, then the cost of the oil companies would increase due to various process of refining the waste materials of the company. This make the company to run in loss, thus, these companies of oil are usually exempted from such developmental laws. And if exemption is not possible by the government, then the government would itself reimburse the compliance cost of the specified oil company. The clauses of stability are used by these companies to get exemption from the application of the rules and regulations of the laws of the host country (guo and ghalambor, 2012). E ven the jurisdiction of the courts of such country is not applicable to the clauses of stability. Expert negotiators: The government of a specified country has to face various problems regarding the selection of personnel who would be the representative of the negotiating team. Negotiation is a process of art, thus, it requires good tactics, effective plan and the capability of segregation of various negotiable factors like compensation from non negotiable elements, such as addressing and consideration of the concerns of the oil companies, and regulation concerned matters (kartashov et al., 2014). It is obvious that, at the time of negotiation with the government of the country, the oil companies are under the guidance of any circumstance in a better situation like finance, skills, and preparedness. But the developing countries which are enrich with natural oil and gas resources do not consist of sufficient legal, financial and technical knowledge. Generally, the negotiations are considered as the one time investment in the developing countries. Therefore, they intend to hire negotiators who are skilled, dedicated as well as independent, such that they could understand the footing of the oil companies (jacobson, 2008). Most of the times the oil rich developing countries overlook the importance of employing expert negotiators for the process of negotiation. The contracts of oil require advice of expert negotiators as they are only capable of covering the broad range of complicated factors. The main focus of a oil contract should be to reach reasonable and agreeable balance such that, the interests of both the government of the country and the investor company get fulfilled (lewicki, barry and saunders, 2011). For making the negotiations successful, the advices of the expert negotiators are mandatory. Conflict of interest: The government of a country faces various conflicts of interest regarding the negotiation of the contracts. The government is acting as a protector of the interest of the public by applying its power of regulation on one hand and on the other, it acts as the signatory to a commercial oil contract as a business personnel with the aim of maximization of profit. The government has to also create a friendly environment for investment, such that the investors are magnetized which would help in creation of employment and also enhance in the growth of economy of the specified country (mannix, neale and overbeck, 2011). Therefore, on one hand, the intension of the government is to maximize its profit from negotiation of the oil contracts and on the other hand to locate objects for its own regulations. In developed countries, this type of problem can be managed but in the developing countries it is hard to manage. Transparency: The objective of the negotiators is to maintain transparency in the negotiation process. The reason behind this is that, to increase the acceptability of the oil contracts by the general public of the country to keep or to maintain transparency is the key element (bayne and woolcock, 2011). Transparency is defined as the disclosure of the contractual terms and conditions and also the consideration paid through certain factors which should remain confidential for a particular period of time in terms of negotiation of oil contracts. Transparency also helps to avoid corruptions which might occur in the oil contracts. It only helps to prevent the officials of the government to accept or implement such terms in these contracts that might cause criticism from the citizens. Types of contracts: The types of contract are an essential matter for the government of the country. The decision regarding the form of contract is the most necessary part of the development of the resources of the country. Generally, the oil companies and the government of the country like to adapt four specific types of contract during the formation of the agreement. These are as follows: Joint ventures: When two or more parties want to enter into an agreement through the undertaking of joint venture, then only joint venture can takes place. Both the parties of the joint venture should understand all the ways by which each of the parties could conduct their business, their interest and also their aims and objectives (ward, 2012). However, if this understanding is not available among the parties of the contract, then it is impossible to come up with the agreement of joint venture. As the joint venture is an open ended contracts, both the governments and the oil companies do not show interest in entering the agreement of joint venture. Advantages: The only advantage the government of the host country can avail is that it does not have to make and take decisions on its own but also it can take help of the experts of the oil company. According to this type of contract, the government of the country has to share its profit with the oil company. Disadvantages: In this type of contract, the government of the host country has to directly take part in the oil extraction process Production sharing agreements: The acronym of product sharing agreements is psa. According to psa, the ownership of oil lies with the citizens of the country and it cannot lie with any of the private entities. Though the cost of operation of the oil field and the management and also the associated risks lie with the oil companies. According to this agreement, the government of the specified country has to reimburse the oil company as operating expenses (orsi, 2012). The taxes which fall under its share have to give by the oil company but the government of the particular country waives these taxes and thus is included in the share of profits of the government. The laws of the country would bring success to the application of psa. Advantages: The oil company bears all the risks. Even any loss would also be bear by the oil company thus there will be no effect on the government. Disadvantages: Psa is an inclusive document, thus its very nature acts as a disadvantage for the government. License: In the year 1900s license was introduced. These are mainly one sided contracts. In the current years, these contracts serve the exclusive rights for development, exploration and sale and export of minerals of the oil companies (progoff, halpern and yang, 2012). For acquiring such rights, the oil companies offer signing bonus. Advantages: These contracts are straight forward, thus it is considerable in developing countries. Disadvantages: The commercial aspect of the contract is the main disadvantage. Risks are associated with the price of license. Service agreements: This type of agreement provides disbursement for particular tasks or services. The main disadvantage of this service agreement is that it cannot be used in long run. Conclusion: The oil producing countries should possess the professional knowledge for negotiation of oil contracts with international oil companies. The process of negotiation should be open at same time. The companies have to make the oil companies feel that they would be treated fairly. The sense of fair treatment and fair return would also prove to be beneficial in the long run for the international oil companies in the large competitive market. References Bayne, n. And woolcock, s. (2011).The new economic diplomacy. Farnham, england: ashgate pub. Chalmers, d. (2012).History of the standard oil company. Dover publications. Grant, t. (2012).International directory of company histories. Detroit, mich.: st. James press. Guo, b. And ghalambor, a. (2012).Natural gas engineering handbook. Burlington: elsevier science. Gustafson, t. (2012).Wheel of fortune. Cambridge, mass.: belknap press of harvard university press. Hults, d., thurber, m. And victor, d. (2012).Oil and governance. Cambridge, uk: cambridge university press. Jacobson, h. (2008).Culture keeping. Nashville, tenn.: vanderbilt university press. Kartashov, m., ignatova, a., fedoseeva, e. And ignatov, m. (2014). Characteristic nonmetallic inclusions in welded joints oil and gas of pipelines.Ogbus, (2), pp.80-94. Larson, s. And smajgl, a. (2012).Sustainable resource use. Hoboken: taylor and francis. Lewicki, r., barry, b. And saunders, d. (2011).Essentials of negotiation. New york: mcgraw-hill/irwin. Looney, r. (2012).Handbook of oil politics. London: routledge. Mannix, e., neale, m. And overbeck, j. (2011).Negotiation and groups. Bingley, u.k.: emerald. Muttitt, g. (2012).Fuel on the fire. New york: new press. Nikiforuk, a. (2012).The energy of slaves. Vancouver, bc: greystone books. Orsi, j. (2012).Practicing law in the sharing economy. Chicago: american bar association. Progoff, s., halpern, m. And yang, j. (2012).Understanding the intellectual property license, 2012. New york, ny: practising law institute. Ross, m. (2012).The oil curse. Princeton, nj: princeton university press. Schwarzenbach, r. (2012).For climate's sake!. ZuÃÅ'ˆrich, switzerland: lars muÃÅ'ˆller. Ward, d. (2012).Contract negotiation handbook. Hoboken [n.j.]: john wiley sons. Wittcoff, h., reuben, b. And plotkin, j. (2013).Industrial organic chemicals. Hoboken, n.j.: wiley.