Download or read book Optimal Oil Production and the World Supply of Oil written by Mr.Nikolay Aleksandrov and published by International Monetary Fund. This book was released on 2012-12-17 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study the optimal oil extraction strategy and the value of an oil field using a multiple real option approach. The numerical method is flexible enough to solve a model with several state variables, to discuss the effect of risk aversion, and to take into account uncertainty in the size of reserves. Optimal extraction in the baseline model is found to be volatile. If the oil producer is risk averse, production is more stable, but spare capacity is much higher than what is typically observed. We show that decisions are very sensitive to expectations on the equilibrium oil price using a mean reverting model of the oil price where the equilibrium price is also a random variable. Oil production was cut during the 2008–2009 crisis, and we find that the cut in production was larger for OPEC, for countries facing a lower discount rate, as predicted by the model, and for countries whose governments’ finances are less dependent on oil revenues. However, the net present value of a country’s oil reserves would be increased significantly (by 100 percent, in the most extreme case) if production was cut completely when prices fall below the country's threshold price. If several producers were to adopt such strategies, world oil prices would be higher but more stable.
Download or read book Optimal Supply Chain Management in Oil Gas and Power Generation written by David Jacoby and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: David Jacoby's highly regarded book addresses the specific supply chain management characteristics and needs of oil, gas, and power companies, and contains a wealth of industry-specific examples. Jacoby provides a toolbox for large-scale capital expenditure decision making and for transforming capital and operation expenditures to exert a visible financial impact in oil, gas, and power companies. The supply chain risk management decision analysis tools offered by Jacoby will help operators increase economic value added while enhancing safety and stewardship of the environment. This book is an invaluable reference resource for chief operating officers; chief financial officers; engineers; vice presidents of supply chain, operations, or production; and directors and managers of procurement, purchasing, operations, or materials management.
Download or read book Optimal Oil Production and the World Supply of Oil written by Mr.Nikolay Aleksandrov and published by International Monetary Fund. This book was released on 2012-12-17 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study the optimal oil extraction strategy and the value of an oil field using a multiple real option approach. The numerical method is flexible enough to solve a model with several state variables, to discuss the effect of risk aversion, and to take into account uncertainty in the size of reserves. Optimal extraction in the baseline model is found to be volatile. If the oil producer is risk averse, production is more stable, but spare capacity is much higher than what is typically observed. We show that decisions are very sensitive to expectations on the equilibrium oil price using a mean reverting model of the oil price where the equilibrium price is also a random variable. Oil production was cut during the 2008–2009 crisis, and we find that the cut in production was larger for OPEC, for countries facing a lower discount rate, as predicted by the model, and for countries whose governments’ finances are less dependent on oil revenues. However, the net present value of a country’s oil reserves would be increased significantly (by 100 percent, in the most extreme case) if production was cut completely when prices fall below the country's threshold price. If several producers were to adopt such strategies, world oil prices would be higher but more stable.
Download or read book Oil Prices Energy Security and Import Policy written by Douglas R. Bohi and published by Routledge. This book was released on 2015-08-11 with total page 285 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book, first published in 1982, takes the interaction between the domestic economy and the international trade in oil and, through the use of a consistent microeconomic framework, examines the conditions under which energy and related policies may or may not improve the performance of the U.S. economy, during both normal periods and old supply disruptions. This title will be of interests to students of environmental management.
Download or read book A Model for the Global Oil Market written by Ayed Al-Qahtani and published by . This book was released on 2008 with total page 566 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book OPEC Behavior and World Oil Prices written by James M. Griffin and published by Taylor & Francis. This book was released on 1982-01-01 with total page 231 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Introduction to Peak Oil written by R.W. Bentley and published by Springer. This book was released on 2016-03-22 with total page 197 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the physical and economic characteristics of the global oil resource to explain why peak oil has been so poorly understood. The author draws on information held in oil industry datasets that are not widely available outside of the specialist literature, and describes a number of methods that have been successfully used to predict oil peaks. In contrast to the widely-held view that ‘all oil forecasts are wrong’, these methods correctly predicted the current peak in global conventional oil production. Current oil forecasts are then compared to evaluate the expected dates for regional and global oil peaks for conventional oil, all-oils, and all-liquids. The dates of global peaks in the production of all-oil and all-liquids appear to be reasonably soon, while the oil price that is needed to support these global production levels continues to rise. The world faces serious constraints in its oil supply, which accounts for about one-third of total world energy use, and over 90% of the fuel used for transportation. Readers of this book will gain a thorough understanding of the critical, but poorly understood, phenomenon of peak oil that has already had significant impacts on society in terms of high oil prices, and which will place increasing constraints on mankind’s supply of energy and economic well-being in the coming years.
Download or read book Oil Security written by Edward R. Fried and published by Brookings Institution Press. This book was released on 2010-12-01 with total page 101 pages. Available in PDF, EPUB and Kindle. Book excerpt: Oil stands alone among primary commodities in its potential for sending economic shock waves across the world. The value of oil production is one and a half times the world's total production of food grains; demand is unresponsive to price in the short run; and the world's oil resources are heavily concentrated in the Middle East, where political disturbances have been chronic and oil supply is subject to sudden interruption. Together, these factors have made oil a virtual rogue elephant in the world economy since 1973. This book discusses the oil shocks of 1973-74, 1979-80, and the "minishock" of 1990-91, and examines the possibility of oil shocks over the next twenty years. The authors assess the world market outlook on the basis of underlying trends on world oil supply and demand. They take into account prospects for investment in oil production in the Persian Gulf states, the former Soviet republics, and Latin America; environmental factors and policies; and political uncertainties in the Middle East.
Download or read book Oil written by P. Ellis Jones and published by . This book was released on 1988 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Oil In The World Economy written by R. W. Ferrier and published by Routledge. This book was released on 2016-03-02 with total page 146 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book discusses the oil industry and its impact on the world economy in the twentieth century. It examines the importance of oil in different sectors, from 1900-1973 and stresses the relevance of oil as a factor in modern economic history not only in national terms but also within an international context. The book includes chapters on American policy towards developing economies in the first half of the 20th century; the policy of Russian oil exports in the 20s and 30s; the financing of the German and French oil industries; and the role of oil in the Japanese economy, a major industrial country without oil resources. On the international front, the book covers the impact of the Middle East national oil companies, the effect of oil on the developing countries of South Ameirca and the relevance of the oil crisis of 1973.
Download or read book Oil Economics and Policy written by Alberto Clo and published by Springer Science & Business Media. This book was released on 2013-03-09 with total page 269 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 20th century society, oil has played a fundamental role not only from the economic point of view, but also from the point of view of the political relationships established between major Western countries and oil-producing countries. A survey into oil history, its market dynamics and price evolution, is essential for a deeper understanding of modern industry and world economy, as world development depends on oil supplies, prices, and its political accessibility. Oil Economics and Policy follows the historical development of the oil industry, and inevitably also covers many aspects of energy resource economy. In so doing, it pays particular attention to one aspect, namely, the fixing of oil prices. This is mainly in order to attempt to understand whether, and by how much, the structural transformations that the oil industry has undergone during the various phases of its existence - and the various market structures deriving from them - have influenced the dynamics of oil prices. Alberto Clô is Professor of Industrial Economics at the University of Bologna. Minister of Industry and Trade during Lamberto Dini's government (January 1995-May 1996), he has been a member both of national and international scientific boards and of ministerial committees. He is author of numerous writings on industrial and energy economies and editor-in-chief of the journal Energia.
Download or read book Petroleum Economics written by Jean Masseron and published by Editions TECHNIP. This book was released on 1990 with total page 536 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a valuable tool in understanding the dynamics of the oil industry from both a broad and specific economic perspective. It contains insights into the underlying features and mechanisms of the oil industry and its many branches, as well as a special emphasis on relevant international problems. It also provides a wealth of statistical information and should be of interest to all concerned with energy matters” (Euroil). “Petroleum Economics, by Jean Masseron, is a fine introductory text to the entire scope of activities and economic conditions facing the world-wide petroleum industry” (AAPG Bulletin). “This book, already used by many organizations, should be especially useful for engineers, economists and managers concerned with energy matters, and also those who, beyond the technical aspects, wish to acquire and in-depth understanding of the economic mechanisms in a vital sector for world development today” (JCPT). Contents : Introduction: Principal economic characteristics. I. Crude oil supply and demand. 1. The crude oil market. 2. Technical cost of exploration and production. 3. Tax and legal aspects. II. The economics of crude oil transportation. 1. Transportation by tanker. 2. Crude oil pipelining. III. Finished products supply: refining. 1. The search for optimal economic conditions. 2. Present unit location and cost of refinery processing. 3. Legal organization. IV. Demand and marketing of petroleum products. 1. The petroleum products in the principal consuming countries. 2. The distribution of petroleum products. 3. The marketing of petroleum products. V. Petrochemicals. 1. General characteristics. 2. Economics of two large basic units. 3. The market for the principal finished products. 4. Problems of today. VI. Natural gas. 1. Natural gas supply in the world. 2. Transportation. 3, International markets and prices. Conclusion: Energy and petroleum problems of the future. Bibliography.
Download or read book An Economic Geography of Oil Routledge Revivals written by Peter Odell and published by Routledge. This book was released on 2013-10-14 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: An Economic Geography of Oil, first published in 1963, analyses the reasons behind the spatial distribution of the different sectors of the world oil industry. In the first part of the book, Peter Odell examines the pattern of the world supply of oil, showing the important changes that took place between 1945 and the early 1960s and highlighting the physical, economic, political and organizational factors which contributed to these developments. In the second part, Odell analyses the relationship between oil and other sources of energy, together with the more fundamental relationship between energy consumption in different areas of the world, and economic development. Finally, attention is paid to those aspects of the industry which are concerned with getting the oil from the point of production to that of consumption; the refining industry, transportation requirements and local distribution patterns are studied. These strands are drawn together in a relevant and interesting conclusion, which considers the overall impact of the oil industry on economic and industrial development.
Download or read book Perspectives of Oil and Gas The Road to Interdependence written by M. Colitti and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt: Perspectives of Oil and Gas: The Road to Interdependence is an up-to-date analysis of the dynamics of petroleum resources. It covers such subjects as oil reserves, depletion policy, pricing strategy, technological factors, and consumer trends. Likewise, it addresses the constraints faced by oil industry planners, from production to third party sales and refining. In addition to in-depth analysis, this book proposes practical solutions to complex problems: for example, how the different objectives and interests of international oil companies and oil producing countries can be reconciled to their mutual advantage. Attention is also focused on development through cooperation beween producers, importers, and multinationals. Perspectives of Oil and Gas ends by addressing the main challenges confronting interdependent economies in the near future. Audience: Decision-makers, policy planners, and academics concerned with the business and technical aspects of the petroleum economy and industry.
Download or read book Oil and the World Order written by Svante Karlsson and published by Berg Publishers. This book was released on 1986 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book An Analysis of OPEC s Strategic Actions US Shale Growth and the 2014 Oil Price Crash written by Mr.Alberto Behar and published by International Monetary Fund. This book was released on 2016-09-07 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: In November 2014, OPEC announced a new strategy geared towards improving its market share. Oil-market analysts interpreted this as an attempt to squeeze higher-cost producers including US shale oil out of the market. Over the next year, crude oil prices crashed, with large repercussions for the global economy. We present a simple equilibrium model that explains the fundamental market factors that can rationalize such a "regime switch" by OPEC. These include: (i) the growth of US shale oil production; (ii) the slowdown of global oil demand; (iii) reduced cohesiveness of the OPEC cartel; (iv) production ramp-ups in other non-OPEC countries. We show that these qualitative predictions are broadly consistent with oil market developments during 2014-15. The model is calibrated to oil market data; it predicts accommodation up to 2014 and a market-share strategy thereafter, and explains large oil-price swings as well as realistically high levels of OPEC output.
Download or read book Oil Prices and the Global Economy written by Mr.Rabah Arezki and published by International Monetary Fund. This book was released on 2017-01-27 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a simple macroeconomic model of the oil market. The model incorporates features of oil supply such as depletion, endogenous oil exploration and extraction, as well as features of oil demand such as the secular increase in demand from emerging-market economies, usage efficiency, and endogenous demand responses. The model provides, inter alia, a useful analytical framework to explore the effects of: a change in world GDP growth; a change in the efficiency of oil usage; and a change in the supply of oil. Notwithstanding that shale oil production today is more responsive to prices than conventional oil, our analysis suggests that an era of prolonged low oil prices is likely to be followed by a period where oil prices overshoot their long-term upward trend.
