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Global Economic Cooperation

Global Economic Cooperation: Understanding G20, G8 (Formerly G7), OPEC, and APEC — Structure, Functions, and Goals

Introduction In the modern globalized world, international cooperation has become essential to address complex economic, political, and environmental challenges. Nations are interconnected through trade, finance, energy, and diplomacy. To promote stability, growth, and mutual understanding, several international organizations have emerged. Among these, the Group of Twenty (G20), Group of Eight (formerly G7), Organization of Petroleum…

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Petroleum Refineries and Their Implications in Developing Countries

Location of Petroleum Refineries and Their Implications in Developing Countries

Introduction Petroleum refineries are industrial facilities where crude oil is processed into useful products such as gasoline, diesel, kerosene, jet fuel, lubricants, and petrochemical feedstocks. While one might logically assume that refineries are located close to crude oil producing areas to minimize transportation costs, in many developing countries, refineries are often situated far from oil…

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