Market value is set by investor behaviour ....but objective methods of valuation are vital for accurate predictions of market behaviour. What are the key issues facing the industry - and the main points the analyst needs to look for when interpreting oil industry accounts? Do the best prospects necessarily lie with the larger and better-financed companies? How best can an investment strategy be managed in the refining industry, with its conflicting pressures of environmental controls and inadequate returns?
This unique and authoritative book has the answers to these and many other questions, offering a series of benchmarks and performance indicators with which to evaluate oil company shares. An updated edition of a respected and established title, it remains the only comprehensive handbook of its kind available, and will be eagerly welcomed by corporate planners as well as investors and analysts.
An essential and practical guide for investors, analysers and corporate plannersThe only book which shows how to actually value oil and gas companiesInternational in outlook

Contamination Control in the Natural Gas Industry delivers the separation fundamentals and technology applications utilized by natural gas producers and processors. This reference covers principles and practices for better design and operation of a wide range of media, filters and systems to remove contaminants from liquids and gases, enabling gas industry professionals to fulfill diverse fluid purification requirements. Packed to cover practical technologies, diagnostics and troubleshooting methods, this book provides gas engineers and technologists with a critical first-ever reference geared to contamination control.

Natural Gas: A Basic Handbook, Second Edition provides the reader with a quick and accessible introduction to a fuel source/industry that is transforming the energy sector. Written at an introductory level, but still appropriate for engineers and other technical readers, this book provides an overview of natural gas as a fuel source, including its origins, properties and composition. Discussions include the production of natural gas from traditional and unconventional sources, the downstream aspects of the natural gas industry. including processing, storage, and transportation, and environmental issues and emission controls strategies. This book presents an ideal resource on the topic for engineers new to natural gas, for advisors and consultants in the natural gas industry, and for technical readers interested in learning more about this clean burning fuel source and how it is shaping the energy industry.

Atmospheric Impacts of the Oil and Gas Industry provides the most up-to-date scientific and technological methods available to quantify oil and gas industry emissions and atmospheric impacts in a manner that is relevant to the development of, compliance with, and enforcement of effective policy and regulations. The book offers a concise survey of these methods to facilitate the implementation of solutions that promote sustainable energy production. Part I covers a technical and descriptive summary of air quality and global change issues relevant to the oil and gas industry, with Part II summarizing state-of-the-art methods pertaining to the analysis and solution of the problems identified in the earlier section. Examples of state-of-the-art methods covered include real-time monitoring with chemical ionization mass spectrometry, drone-mounted mini-lasers and gas cells, tomographic remote sensing, inverse modeling of emissions, 3D fluid, chemical, and transport models, and contemporary control technologies, such as flare minimization, oxidation catalysts, and vapor recovery. In addition, field studies, policy-relevant modeling assessments, and regulatory decisions from multiple geographic regions are presented, providing readers best practices from real world applications.

Giant Coal-Derived Gas Fields and Their Gas Sources in China presents a thorough look at 32 coal-derived gas fields in China. This reference book includes two main parts, the first discussing the geologic characteristics of the tectonic, stratigraphy, source and cap rock assemblage for the accumulation periods. The second part features multiple differential indexes, charts, phase states (gas, liquid, solid), and the methods used to determine the sources of the coal-derived giant gas fields. As the first comprehensive coverage of the methods of gas to source correlation in China, this book will be a classic reference for researchers working in natural gas geology and geochemistry, and teachers working in universities around the world.

This important book provides a comprehensive analysis of technological change and environmental policy within the oil and gas industry. It identifies and measures the impact of technological change, both in market and environmental output sectors and takes steps to identify key causal relationships. The author focuses on the design and implementation of environmental policies that encourage technological progress in the face of the depletion of natural resources and the increasing stringency of environmental regulations. Detailed policy scenarios provide quantitative assessments indicating the significance of the potential benefits of technological change and well-designed environmental policy. With a sophisticated description of innovations within the oil and gas industry, this book will be of great interest to postgraduate students in economics, as well as in public policy, business administration and engineering. It will also appeal to practitioners in the energy industry and energy and environmental policymakers as it demonstrates how successful market and environmental policies can contribute to efficiency by encouraging, rather than inhibiting, technological innovation.

The use of fracking is a tremendously important technology for the recovery of oil and gas, but the advantages and costs of fracking remain controversial. This book examines the issues and social, economic, political, and legal aspects of fracking in the United States. Hydraulic fracturing of oil and gas wells-known commonly as "fracking"-has been in use in the United States for more than half a century. In recent years, however, massive expansion of shale gas fracturing across the nation has put fracking in the public eye. Is fracking a "win win" like its proponents say, or are there significant costs and dangers associated with the use of this energy production technology? This book examines fracking from all angles, addressing the promise of the United States becoming energy independent through the use of the process to tap the massive amounts of natural gas and oil available as well as the host of problems associated with fracking-groundwater contamination and increased seismic activity, just to mention two-that raise questions about the long-term feasibility of the process as a source of natural gas. The first part of the book provides a historical background of the topic; a review of technical information about fracking; and a detailed discussion of the social, economic, political, legal, and other aspects of the current fracking controversy. The second part of the book provides a host of resources for readers seeking to learn even more in-depth information about the topic, supplying a chronology, glossary, annotated bibliography, and profiles of important individuals and organizations. Written specifically for students and young adults, the content is accessible to readers with little or no previous knowledge regarding fracking. Provides readers with a complete historical review of the origins, development, and expansion of the use of fracking Explains the technical principles related to the use of fracking in clear, nontechnical language Presents an unbiased review of the arguments for and against the use of fracking for the recovery of oil and gas Supplies a summary of the history of the use of fracking in the United States

Natural gas markets have undergone momentous changes, worldwide. This book updates and expands on the dynamics, performance and forward path of expanding natural gas use in the US and worldwide, including international trade. It brings together major research themes and findings with recent updates and analysis of new trends and developments. It also explores many considerations for natural gas market development, such as the importance of infrastructure, transparent pricing, and institutional capacity. This book is unique in providing background on the full natural gas value chain as well as information and analysis that can foster scenario-building and decision-making. Of particular value are the lessons learned and demonstrated for those countries that aspire to build effective natural gas markets and to expand natural gas development and use.

Regulating Shale Gas discusses the regulatory context of shale gas in the European Union and draws conclusions on the EU's broader approach towards the regulation of new technologies. Providing the first dedicated examination of the overall regulatory context of shale gas in the EU, Leonie Reins reveals how the EU's new constitutional setup after the Lisbon Treaty has complicated rather than facilitated the EU's quest for a common energy policy. Shale gas has already transformed the energy outlook in the United States, but despite high expectations, exploration has failed to take off fully in the EU. This book investigates the reasons for this failure, as well as other related developments impacting both energy and environmental law, by highlighting the essential elements of coherent regulation of technologies. It further analyses other cross-cutting issues relating to the environmental and energy supply security challenges and offers insights into the regulation of the different sectors and the most topical developments. The regulation of shale gas is set to become an increasingly important issue, receiving attention of energy and environmental legal scholars, politicians and industry worldwide. This book will also appeal to legal practitioners seeking expertise in the law and policy of shale gas extraction in the EU.

Over the past six decades federal regulatory agencies have attempted different strategies to regulate the natural gas industry in the United States. All have been unsuccessful, resulting in nationwide gas shortages or massive gas surpluses and costing the nation scores of billions of dollars. In addition, partial deregulation has led the regulatory agency to become more involved in controlling individual transactions among gas producers, distributors, and consumers. In this important book, Paul MacAvoy demonstrates that no affected group has gained from these experiments in public control and that all participants would gain from complete deregulation. Although losses have declined with partial deregulation in recent years, current regulatory practices still limit the growth of supply through the transmission system. MacAvoy's history of the regulation of natural gas is a cautionary tale for other natural resource or network industries that are regulated or are about to be regulated.

This books analyses how transnational gas markets have evolved and impacted on EU-Russia energy relations. It examines how the political conflict surrounding Ukraine has accelerated a negative interdependence in the region, with energy interdependence increasingly used as an instrument of diplomacy.

This book examines the economics and related impacts of unconventional shale gas development. While focusing on the Marcellus and Utica Shales in the Mid-Atlantic region, additional insights from other regions are included to provide a broader view of these issues. Shale gas development in recent years has changed the energy discussion in the US, as existing reserves of natural gas coupled with horizontal drilling and hydraulic fracturing make exploitation of these reserves economically feasible. The importance of natural gas is seen as likely to continue to expand over the coming years, and is expected to increase even further with environmental considerations, such as greenhouse gas emissions. Horizontal drilling and hydraulic fracturing producing natural gas from deposits such as the Marcellus Shale is making the US a net producer of natural gas. Previous studies have examined the economic impact of exploration and production in the region. Other studies have addressed legal, environmental, biodiversity, and public health impacts of unconventional shale development. This is the first volume to focus solely on the economics and related financial impacts of this development. This book not only fills the research gap, but also provides information that policy makers and the public need to better understand this pressing issue.

The third book in the Getenergy Guides series, The Evolution of Four Energy Nations considers how four very different countries have evolved as oil and gas-producing nations and how the interventions of government, industry and the education and training sector have addressed workforce and skills development challenges in each of these countries. This volume will explore - in each case - the historical growth of the industry, the dynamics of the industry today and the projected direction of travel for the industry in the future. Within this context, the volume will examine the nature of the skills and workforce demands that each country has experienced and will analyze the influence of policy initiatives (including those related to the establishment and running of national oil companies), the impact of industry activities, and the role of education and training providers. Each of these four extended case studies will reveal what we can learn from past and recent experiences. The case studies will also explore the extent to which the effectiveness of approaches to skills and workforce development within the oil and gas industry are contextual and what commonalities there are in terms of success factors. The Guide will conclude with a set of observations regarding best (and worst) practices that can inform future interventions in hydrocarbon-producing nations across the world.

This book discusses the economic, political, and environmental issues surrounding the international exploration and exploitation of conventional and unconventional natural gas. Shale gas development in recent years has changed the energy discussion in the US as existing reserves of natural gas coupled with horizontal drilling and hydraulic fracturing make exploitation of these reserves economically feasible; the discussion is quickly becoming international in scope. The potential expansion of natural gas development impacts many regions of the globe and spans multiple perspectives. In a volatile international climate, one of intense geopolitical conflict between Russia and the West, economic slowdowns in Europe and China, military conflicts in the Middle East and northern Africa, and widening income disparity in the U.S., a relatively inexpensive and plentiful energy source like shale gas could play a key role in mitigating such conflicts. In an energy interdependent global community, however, multiple factors such as oil prices, differing rates of exploration, environmental concerns, strategic initiatives, institutional changes, legal and regulatory issues, and actions of the nations involved all have the potential to influence future outcomes. This book discusses each of these in turn, detailing the issues most prevalent in each geographical area. The first volume to provide a comprehensive global view of the impacts of shale gas development, this book fills a gap in the current research literature, providing vital information for the scholarly community and the public alike. This book will be of interest to researchers and students of economics, energy policy, public administration, and international relations as well as policy makers and residents of the regions that are experiencing shale gas development.

This edited volume compares seven countries in North America and Europe on the highly topical issue of oil and gas development that uses hydraulic fracturing or "fracking." The comparative analysis is based on the Advocacy Coalition Framework (ACF) and guided by two questions: First, in each country, what are current coalitions and the related policy output? Second, based on the current situation, what are the chances for future policy change? This book is the first to use a social science approach to analyze hydraulic fracturing debates and the first application of the ACF that is deliberately comparative. The contributions in this book advance our understanding about the formation of coalitions and development of public policy in the context of different forms of government and economically recoverable natural resources.

Suitable for self-study or for in-company one-to-one or group teaching, this title presents an essential resource for improving communication in English within the gas and electricity industries.

Volume 1: "Education and Training for the Oil and Gas Industry: Case Studies in Partnership and Collaboration" explores the way in which global standards in education within the oil and gas industry can be developed and implemented through partnership and collaboration. This volume considers the current political and economic context for this within oil and gas producing countries and maps out key stakeholders, explores current education and training provision, gathers perspectives from industry and from national oil companies and develop a manifesto for education and training in the oil and gas industry globally. "The Getenergy Guides" crystallizes the lessons and examples of best practice from ten years of interactions and engagements. It offers a blueprint for a unified, universal set of quality standards and collates the tools and techniques necessary to implement these standards in a way that all companies, training providers, educators and governments can embrace.

Edited by Getenergy s Executive Team which for more than a decade has uniquely specialized in mapping and connecting the world of academia and learning with the upstream oil and gas industry through events and workshops around the globe. Detailed research into the key facts surrounding each case with analysis to enable readers to quickly and effectively extract the lessons and apply to a variety of challenges in building oil/gas workforce capacity. Highlights the business lessons for universities, colleges and training providers from collaborative working to support skills projects for major companies where demand is greatest. Includes full colour images and partnership diagrams to underscore key concepts Offers a unified and universal case study rating mechanism in which readers can participate on-line to be part of this important and varied community. "

This volume brings together fourteen papers by leading economists, regulators, and industry practitioners presented at a historic conference on natural gas deregulation. From the origins of gas regulation in the last century to a reexamination of the policy reforms of the Federal Energy Regulatory Commission (FERC) over the last decade, these essays constitute a primer on today's major gas policy issues. These topics include the case for incentive regulation, the costs and benefits of mandatory open-access transportation, the methodology used for determining "workably competitive" markets, lessons from light-handed intrastate regulation, new transactions in the gas market, and private contracting to bypass regulation. Many of these issues and insights can be applied to restructuring other industries such as electric power and telecommunications. Academics and industry practitioners alike will find this book an indispensable reference guide to the history of gas regulation, the recent industry restructuring, and the options for future regulatory reform toward greater market reliance.

Consume thy rival may be the new law of corporate survival in the U.S. utilities industry. This book describes close to $70 billion of global utility mergers stemming from the anticipated deregulation of the U.S. gas and electrical utilities industries. Occurring from 1995 to 1997, these mergers are completely restructuring U.S. power utilities. Thirty-seven billion dollars of these mergers, a full 53 percent, occurred abroad. About two-thirds of the foreign mergers were U.S. takeovers, while the remaining one-third was mergers, defensive and otherwise, of U.K. firms with other U.K. firms. This may be the first time U.S. industrial restructuring has generated more investment abroad rather than in domestic markets.

Exploring the diversity of strategies and changes driving these mergers, the author concludes that although complex, the mergers can be explained by strategies traditionally used in domestic M&As. These very large U.S. utilities now consider themselves to be operating in a global industry of private, deregulated utilities, and they are determined to survive through mergers that help them cut costs, spread expenses, and increase profits.

This book examines the internal and external implications of Israel's natural gas discoveries in the Eastern Mediterranean. The nation's changed status from being an importer of coal and oil to that of an exporter of natural gas has consequences not only for the energy sector but also for the fragile geopolitics of the region. The book: Explores the challenges and issues of energy economics and governance; Analyses Israel's gas diplomacy with its neighbours in the Middle East and North Africa and its potential positive impact on the amelioration of the Arab-Israeli conflict; Studies how Israel can avoid the deleterious impact of the Dutch disease once the government's share of the export revenues start flowing. The author traces a consummate picture of history, politics, and conflicts that shape the economics of energy in Israel and its future trajectories. A major intervention in Middle East studies, this volume will be of great interest to scholars and researchers of energy studies, development studies, strategic studies, politics, diplomacy, and international relations. It will also be of interest to government agencies, think-tanks, and risk management firms.

Jens HETLAND & Teimuraz GOCHITASHVILI In contrast to oil, natural gas is usually routed through pipeline systems stretched from the wellhead to the end-user - although liquefied natural gas (LNG) is gaining increased interest; the commercialisation of natural gas fields is inherently linked to rigid transportation systems that require huge investments in tangible assets fixed to specific locations; the supply of natural gas is constrained by the transportation system, and requires access to appropriate infrastructure for transport and distribution; the trading of natural gas is traditionally associated with long-term contracts, albeit the duration per se of gas transport contracts appears to be less important after the deregulation of the energy markets. As diversification is strategically important to modern societies, the security of energy supplies becomes an inherent issue. In order to avoid situations of shortage, and to keep the price level stable, industrial nations are paying attention to the security of energy supplies. In brief terms this means that having more than one supplier of natural gas and more than one transport route would be strategically important. This also affects political issues and international law and regulations, economics, science and technology. The purpose of this book is to address opportunities extended from science and research pertaining to the exploitation and international trading of natural gas that involves transit countries. This especially relates to the transport and handling of gas from remote regions and pipelines that are

Since 1984, relaxed federal guidelines have allowed the natural gas industry to become far more flexible and competitive. Once gas pipelines were given the option of open access, the barriers to markets and competition dissolved. The success of open access points to the emergence and evolution of a fluid and informationally rich network of regional markets that form today's single national market for natural gas. A broad range of specialists and academics in economics, regulatory economics and economic modeling, industrial organization, and energy and natural resources will find the implications of this work important reading.

This work considers the potential effects of competition in the natural gas pipeline industry. Contrary to published studies and government reports, this study concludes that federal regulation in the industry is no longer necessary to limit the market power of current pipeline suppliers. Rather, potential entry by nearby suppliers--a competitive factor largely ignored in most economic analyses--will promote competition in most major markets. The purpose of the work is two-fold: to quantify the competitive effect of potential market entry by natural gas suppliers; and to demonstrate that any industry analysis which fails to consider this competitive factor is likely to be in error.

This compilation and analysis of market-by-market data on current deliveries by pipeline, location of nearby deliveries, and location of nearby pipelines which make no deliveries will be of interest to scholars, policymakers, and industry analysts concerned with competitive, antitrust, and regulatory issues.

This book explores the economic challenges involved in managing hydrocarbon wealth in the Caspian region, and looks at how to design an optimal energy policy. The book draws on the Author's experience in dealing with the governments of the region, and her knowledge of the role of major companies in the area.