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Green Proficiency Accounting and Yields of Oil & Gas Consortiums: Nigeria’s Outlooks

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Inyang, I.O., Eyo, R.E. and Otuagoma, F.O., 2021. Green Proficiency Accounting and Yields of Oil & Gas Consortiums: Nigeria’s Outlooks. United International Journal for Research & Technology (UIJRT), 2(8), pp.28-37.

Abstract

The investigation was on green proficiency accounting and yields of the oil and gas consortiums: Nigeria’s outlooks. The survey explicitly measured the effect of oil emission cost, oil waste controlling cost and gas diffusion cost on the return on equity nominated oil consortiums in Nigeria. The study embraced the ex-post facto design and obtained data from the yearbooks of the carefully chosen consortiums. The pane method was useful in valuing the studies constraints and strictures. Outcomes from the pane regression valuation indicated that oil emission cost has adverse and substantial influence on the profit after tax of oil consortiums in the upstream subdivision; gas spreading cost has a negative and irrelevant influence on the profit after tax of oil consortiums in the upstream sector and oil waste management cost has a negative and irrelevant effect on the profit after tax of oil consortiums in the upstream sector. Based on these findings, the study recommended that oil and gas consortiums should develop an anti-spillage strategy to enhance the prevention and/or timely detection of oil spillage to reduce the allocated cost for spillage relate activities and so enhance profitability and return on assets. Also, oil consortiums should formulate policies to reduce gas flaring through adequate inspection and monitoring of exploration activities to reduce the allocated cost for gas flaring and lastly, adequate controlling of oil waste should be energized and encouraged to congeal the petroleum products and augment profitability and the causative power of the assets of the oil consortiums in Nigeria.

Keywords: Accounting, Consortiums, Gas, Green, Oil, Proficiency, Yields

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