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BSA 32P > Extractive-WriteUp > Flashcards

Extractive-WriteUp Flashcards

1
Q

(In general) What are the activities usually performed by exploration companies?

A

exploration
development
extraction

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2
Q

Is the extraction and utilization of minerals or other geological materials from an ore,
lode, vein, seam, reef or placer deposit. Through this, one can obtain any material that cannot be grown through agricultural processes.

A

Mining

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3
Q

(Mining)
It means the search for resources suitable for commercial exploitation

A

Exploration

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4
Q

(Mining)
This refers to the process of evaluating the practical feasibility and economic potential of a mineral resource.

A

Evaluation

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5
Q

(Mining)
This involves creating access to and initiating the operation of facilities for extracting, treating, and transporting minerals from the reserve, along with other preparations for commercial production. This process may encompass various activities.

A

Development

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6
Q

(Mining)
Means the day-to-day activities of obtaining a saleable product from the mineral reserve on a commercial scale

A

Production

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7
Q

(Mining)
Closure takes place once mining operations have concluded, involving the restoration and rehabilitation of the site.

A

Closure and rehabilitation

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8
Q

The primary activities of this is to search, extract, refine and sell oil and gas.

A

Oil and gas industry

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9
Q

(Oil and gas)
What are the 3 main segments?

A

Upstream
Midstream
Downstream

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10
Q

(Oil and gas)
This segment refers to companies engaged in the exploration and extraction of oil and gas resources.

A

Upstream Activities

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11
Q

(Oil and gas)
This segment specializes in transportation within the oil and gas industry. Their primary
responsibility is to transport the extracted raw materials from the source to refineries for processing. It engages in activities such as shipping, trucking, pipeline operations, and the storage of raw materials.

A

Midstream businesses

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12
Q

(Oil and gas)
This segment encompasses refineries and gas stations. Refineries play a crucial role in
purifying and transforming oil and gas into consumer products like gasoline, jet fuel, heating oil, and asphalt.

A

Downstream businesses

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13
Q

(Oil and gas)
The primary sources of revenue for petroleum companies are:

A

Refining businesses

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14
Q

It produces electricity and distributes it across a
country or region using high-voltage transmission lines, ultimately delivering it to consumers through a retail distribution network.

A

Power

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15
Q

(Power)
This encompasses the transfer of power and the conveyance of water or gas, along with the
subsequent distribution of these resources. This segment of the value chain relies heavily on substantial investments in electric grid infrastructure and pipeline networks.

A

Transmission and Distribution, Transport

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16
Q

(Power)
They are authorized to generate profits based on a specified rate of return on their
invested capital, as outlined in their revenue requirement.

A

Regulated utilities

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17
Q

Challenges faced by the exploration businesses:

A

Political risk
Geological Risk
Price Risk
Supply and Demand Risk
Costs Risk

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18
Q

It is a complex and diverse sector, and regulations are typically managed at the
national or regional level by individual countries or groups of countries.

A

Mining industry

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19
Q

The primary government agency responsible for the management and conservation of the country’s environment and natural resources.

A

Department of Environment and Natural Resources (DENR)

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20
Q

Within this agency is the ______ who is specifically tasked with overseeing the mining sector.

A

Mines and Geosciences Bureau (MGB)

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21
Q

This Act governs all mining operations
and related rights in the Philippines, particularly the exploration, development, and utilization of
natural resources through a collaboration between the government and the private sector.

A

Philippine Mining Act of 1995 (RA No. 7942)

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22
Q

____ is tasked with developing and
executing all governmental plans, programs, projects, and initiatives pertaining to the exploration, development, utilization, distribution, and conservation of energy.

A

Department of Energy (DOE)

23
Q

The Act, conferred by Presidential Decree 87,
provides the legal basis for the exploration and development of indigenous petroleum resources authorizing the grant of service contracts entered into thru public bidding, or through negotiations.

A

Oil Exploration and Development Act of 1972

24
Q

The regulatory watchdog of the utility industry is __________ who has the authority to regulate the rates, charges, and terms of service of electric power utilities.

A

Energy Regulatory Commission (ERC)

25
Q

In terms of power generation, the ________, a government-owned and controlled corporation, assumes the responsibility for the development, operation, and maintenance of power generation facilities.

A

National Power Corporation (NPC)

26
Q

In addition to ensuring the quality, reliability, security, and affordability of the electric power supply in the country, this
Act mandates that a new generation company must obtain a certificate of compliance from the
Energy Regulatory Commission, following the standards outlined in this legislation.

A

Electric Power Industry Reforms Act of 2001 (Republic Act No. 9136)

27
Q

(PFRS 6) This means the search for mineral resources, including minerals, oil, natural gas and similar non regenerative resources after the entity has obtained legal rights to explore in a specific area, as well as the determination of the technical feasibility and commercial viability of extracting the mineral resource”

A

exploration and evaluation of mineral resources

28
Q

At recognition, exploration and evaluation assets are measured at

A

cost

29
Q

After recognition, an entity shall apply either:

A
  1. Cost model
  2. Revaluation model
30
Q

Major industry players in Mining Industry

A
  1. Philex Mining Corporation
  2. Apex Mining Company, Inc.
  3. Semirara Mining and Power Corporation
  4. Benguet Corporation
  5. Atlas Consolidated Mining and Development Corporation
31
Q

Major industry players in Oil and Gas Industry:

A
  1. Petron Corporation
  2. Pilipinas Shell
  3. Chevron Philippines
  4. Phoenix Petroleum
  5. Seaoil
32
Q

Major industry players in Power/Utility Industry

A
  1. San Miguel Corporation Global Power Holdings Corp.
  2. Aboitiz Power Corporation
  3. First Gen Corporation
  4. Ayala Corporation AC Energy
  5. DMCI Power Corporation
33
Q

Two main categories of Mining Assets

A
  1. Projects
  2. Operating Mines
34
Q

2 stages/phases in Projects (Mining Industry)

A
  1. Exploration and Feasibility
  2. Planning and Construction
35
Q

The purpose of_____ is to find ores that are economically viable to mine. It begins with locating mineral anomalies, after which discovering and sampling confirms or denies that there is a find. It can be further proven through drilling programs and resource definition.

A

exploration

36
Q

This begins with applying for and obtaining permits, continuing economic studies, and refining mine plans.

A

Planning and construction phase

37
Q

Once the operation is ready to begin, the asset officially becomes an ______.

A

Operating mine

38
Q

Mine closure process includes:

A

Clean-up
Reclamation
Environment monitoring

39
Q

the _____ owns the mineral rights and gives the mining company a permit to develop and operate a mine.

A

Government

40
Q

The main mining legislation

A

Philippine Mining Act of 1995, Republic Act (RA) No. 7942 (Mining Act)

41
Q

______ administers the mining industry and ensures compliance with the Mining Act. It administers and disposes of mineral lands and resources through the grant of exploration permits (EPs) and/or Mineral Agreements (MAs) to duly qualified entities.

A

DENR-MGB

42
Q

The _____________ implements the applicable environmental laws

A

DENR-Environmental Management Bureau (EMB)

43
Q

Major industry players in Mining Industry

A
  1. Carmen Copper Mine
  2. Molave Project
  3. Taganito Mine
  4. Masbate Mine
  5. Narra Project
44
Q

The ________ supplies equipment, services and production systems for energy markets.

A

Transmission and Distribution market

45
Q

The initial stage which involves the process of converting power from a generation source (coal, nuclear, wind, etc.) into a high voltage electrical format that can be transported using the power grid. In the transmission stage, electrical transmission links power production and power usage.

A

electricity generation

46
Q

In this stage, electricity from transmission lines is reduced to lower voltages, and distribution companies then bring the power to the end user’s home and workplace.

A

distribution stage

47
Q

Philippine energy laws govern the generation, distribution, and utilization of energy. These laws aim to promote competition, encourage renewable energy use, and regulate utility operations. They address issues like energy pricing, environmental impact, and market structure, ensuring a balance between economic growth, consumer protection, and environmental sustainability

A

Electric Power Industry Reform Act (EPIRA)
Renewable Energy Act

48
Q

Major industry Players In Power Industry

A
  1. Aboitiz
  2. San Miguel
  3. First Gen
  4. PSALM
  5. AC Energy
49
Q

This segment includes the business of oil and gas exploration and production

A

Upstream

50
Q

This segment includes transportation, and storage

A

Midstream

51
Q

This segment includes refining and marketing

A

Downstream

52
Q

It is one of the most capital-intensive industries for it requires expensive equipment and highly skilled labor.

A

Oil and gas production

53
Q

These laws regulate licensing, exploration, production, and distribution activities. They also outline environmental safeguards, revenue sharing, and foreign participation in the sector. Complying with these regulations is crucial for the sustainable development of the industry.

A

Oil Exploration and Development Act
Downstream Oil Industry Deregulation Act

54
Q

Major industry players in Oil and Gas Industry

A
  1. Shell
  2. Petron
  3. End Users
  4. Chevron

BSA 32P (3 decks)

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