The nature of petroleum products and financial performance of petroleum companies
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Date
2016-11
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Publisher
Kampala international international: College of Economics and Management
Abstract
This study examined the nature of petroleum products and financial performance of petro city Uganda limited (ltd. The researcher employed a descriptive, cross sectional and correlation designs. During data collection the instruments used included; the questionnaire and interview guide. The study targeted dealers in petroleum products, employees of Petrocity Uganda ltd and top management officials. The researcher used tables by Krejcie and Morgan (1970) and a sample size of 148 was got from a population of 240 members. Results show there is a positive significance relationship between gaseous nature of petroleum products and financial performance based on sig (0.046) less than 0.05. Findings also indicate that there was no significant relationship between flammable nature of petroleum products and financial performance of Petrocity Uganda ltd. Since the significance of (0.265) is above 0.05, the null hypothesis was accepted and a conclusion made that there is no significant relationship between flammable nature of petroleum products and financial performance of Petrocity Uganda ltd and that the liquid nature of petroleum products has a strong influence on the overall financial performance especially from the sales as shown by the aspects of leakages/spillovers/pilferage of liquid petroleum products, excessive evaporation, net financial loss, and real financial loss with higher levels of significance. It was therefore concluded that that there is a significant relationship between the gaseous nature of petroleum products and financial performance, that there is no significant relationship between flammable nature of petroleum products and financial performance of Petrocity Uganda ltd and that the liquid nature of petroleum products has a strong influence on the overall financial performance especially from the view that it reduces the overall sales revenues. The researcher recommends that Petrocity Uganda ltd should develop strong transportation trucks and storage tanks that are heat proof or less attracted so that the product loss due to excessive evaporation during .transportation and storage are minimized, It should use automated electronic systems when selling and loading products to reduce on loss as a result of spillover, Petroleum companies And dealers should have enough and strong fire-fighting equipment like water pumps and fire extinguishers during transportation and even at all petrol stations as fire is the main threat
Description
A dissertation submitted in partial fulfillment of tile Requirements for the a ward of the master’s degree of business administration of Kampala International university
Keywords
Oil and Gas, Petroleum products, Financial performance, Petroleum companies, Petrocity Uganda