The Economics of Oil and Gas
Seiten
2019
Agenda Publishing (Verlag)
978-1-911116-27-1 (ISBN)
Agenda Publishing (Verlag)
978-1-911116-27-1 (ISBN)
A concise and rigorous presentation of petroleum economics that examines the entire value chain of the oil and gas industry from exploration, development and production to transportation, refining and marketing.
The availability of low-cost energy from fossil fuels – in particular oil – has been the driving force behind postwar global economic growth, such that the petroleum industry has some of the world’s largest companies. This book examines the economics of the oil and gas industry, from exploration, development and production, to transportation, refining and marketing. At each stage of the value chain, the key economic costs and considerations are presented in order to provide the reader with a comprehensive understanding of the workings of the industry.
The book examines some of the unique economic challenges the industry faces, including negotiating international contracts with host countries (to gain access to hydrocarbons), managing the risks of recovery, implementing cross-border pipelines, dealing with huge variations in the taxation of refined products, and reacting to the effect of price control and subsidization in the OPEC nations which can create massive volatility in pricing. The search for low-carbon fuels, the impact of shale gas, the prospect of finite reserves, and the global political realities of the competing demands of oil-importing and oil-exporting countries are shown to make the sector high risk, but the economic rewards can be huge.
The availability of low-cost energy from fossil fuels – in particular oil – has been the driving force behind postwar global economic growth, such that the petroleum industry has some of the world’s largest companies. This book examines the economics of the oil and gas industry, from exploration, development and production, to transportation, refining and marketing. At each stage of the value chain, the key economic costs and considerations are presented in order to provide the reader with a comprehensive understanding of the workings of the industry.
The book examines some of the unique economic challenges the industry faces, including negotiating international contracts with host countries (to gain access to hydrocarbons), managing the risks of recovery, implementing cross-border pipelines, dealing with huge variations in the taxation of refined products, and reacting to the effect of price control and subsidization in the OPEC nations which can create massive volatility in pricing. The search for low-carbon fuels, the impact of shale gas, the prospect of finite reserves, and the global political realities of the competing demands of oil-importing and oil-exporting countries are shown to make the sector high risk, but the economic rewards can be huge.
Xiaoyi Mu is Reader in Energy Economics in the Centre for Energy, Petroleum and Mineral Law and Policy at the University of Dundee. Prior to joining the Centre in 2008, he was a Senior Consultant at Global Energy Decisions (now ABB Ventyx) in California, and worked as an analyst at the headquarters of CNPC, China’s largest oil and gas producer.
1. Introduction2. Exploration, Development and Production3. Licensing and Fiscal Issues4. Petroleum Transportation5. Refining and Marketing6. Natural Gas7. Oil Prices8. Conclusion
Erscheinungsdatum | 10.05.2021 |
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Reihe/Serie | The Economics of Big Business |
Verlagsort | Newcastle upon Tyne |
Sprache | englisch |
Maße | 148 x 210 mm |
Themenwelt | Technik ► Elektrotechnik / Energietechnik |
ISBN-10 | 1-911116-27-4 / 1911116274 |
ISBN-13 | 978-1-911116-27-1 / 9781911116271 |
Zustand | Neuware |
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