Search results

Filters

  • Journals
  • Authors
  • Keywords
  • Date
  • Type

Search results

Number of results: 3
items per page: 25 50 75
Sort by:

Abstract

The article presents a synthetic analysis of the crude oil market in Poland. As of today, this safety is provided mainly on the basis of native lignite and hard coal resources. However, the analysis of the hard coal market conducted by the authors indicates that the carried out mining restructuring (among others) led to an excessive reduction of mining volume and employment level in the hard coal mining sector. This led to a precedent situation when Poland became an importer of this energy carrier. In addition, the European Union’s requirements for greenhouse gas emissions must be taken into account. In connection with the above, it is necessary to search for new energy sources or technologies that enable hard coal to meet the requirements. It is possible to apply the so-called clean coal technologies that allow the greenhouse gas emissions generated during coal combustion to be reduced. As of today, they are not used on a mass scale, because the use of this type of technology involves additional financial expenses. However, taking into account that technologies have been growing faster and faster, are modernized in a shorter time, making a breakthrough discovery took hundreds of years, now it is often a few months, clean coal technologies can become the optimal solution in the near future. It is also necessary to diversify the sources of obtaining imported energy carriers. The article describes coal and crude oil in terms of their mutual substitution. The article is a continuation of research conducted by the authors. Previous publications presented considerations on analogous topics related to natural gas and renewable energy sources. The crude oil market in Poland was analyzed and forecasts for oil extraction and the demand in the world and Poland by 2023 were presented. The SARIMA model was also created. The model made it possible to obtain oil an prices forecast.
Go to article

Abstract

In order to prepare a coal company for the development of future events, it is important to predict how can evolve the key environmental factors. This article presents the most important factors influencing the hard coal demand in Poland. They have been used as explanatory variables during the creation of a mathematical model of coal sales. In order to build the coal sales forecast, the authors used the ARMAX model. Its validation was performed based on such accuracy measures as: RMSE, MAPE and Theil’s index. The conducted studies have allowed the statistically significant factors out of all factors taken into account to be identified. They also enabled the creation of the forecast of coal sales volume in Poland in the coming years. To maintain the predictability of the forecast, the mining company should continually control the macro environment. The proper demand forecast allows for the flexible and dynamic adjustment of production or stock levels to market changes. It also makes it possible to adapt the product range to the customer’s requirements and expectations, which, in turn, translates into increased sales, the release of funds, reduced operating costs and increased financial liquidity of the coal company. Creating a forecast is the first step in planning a hard coal mining strategy. Knowing the future needs, we are able to plan the necessary level of production factors in advance. The right strategy, tailored to the environment, will allow the company to eliminate unnecessary costs and to optimize employment. It will also help the company to fully use machines and equipment and production capacity. Thanks to these efforts, the company will be able to reduce production costs and increase operating profit, thus survive in a turbulent environment.
Go to article

This page uses 'cookies'. Learn more