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

Trading in oil futures and options is an introduction to price risk management in the worldwide oil industry. With numerous practical examples, it requires no prior knowledge and should be read by everyone involved in the industry.
Although aimed primarily at those new to risk management it will also provide a useful theoretical background to more experienced managers and it will show those in other markets how the oil industry uses futures and other derivatives.
This book concentrates on all the risk management tools available to everyone from crude oil producer to refined product consumer and explains the theory of futures, exchange options and over the counter trading.

Bunkers are the lifeblood of the shipping industry - their availability, quality and, above all else, cost often determine whether a shipowner can operate efficiently and profitably. Cockett on Bunkers provides those involved in the shipping and oil industries with an understanding of the worldwide bunker fuel industry and a comprehensive manual that can be used as a reference in day-to-day bunker management and operation. Cockett on Bunkers contains up-to-date information on marine fuel standards and monitoring services, bunker buying techniques, bunker suppliers and the art of blending, pricing and bunkering operational procedures and takes into account recent developments in these areas.;Written in an accessible style with the emphasis on practical interpretation.

The oil and gas industry's wide international exposure and constantly changing landscape leave it particularly vulnerable to disputes. As this practical book demonstrates, the risks associated with disputes can be mitigated by parties utilising governing law and dispute resolution clauses in contractual agreements within the sector. Examining a global range of jurisdictions, the book offers clear guidance on the most appropriate choice of law and choice of dispute resolution forum for oil and gas contracts, analysing the key issues and defining the legal contours involved. Key Features: Insightful contributions from over 40 leading practitioners and expert legal scholars Examination of domestic and international case law, with analysis of the local laws of 24 jurisdictions globally Consideration of the future of disputes in the oil and gas industry by tracking the evolution and latest trends of the global energy market Examination of the dispute resolution mechanisms used to mitigate disputes, with a focus on international arbitration as a forum for dispute resolution Discussions of a range of operations in the oil and gas industry, including upstream, midstream and downstream projects, and the various contracts that exist within these Featuring a comparative and practice-oriented perspective, this highly informative book will prove an essential resource for practitioners advising parties concerning contractual agreements in the oil and gas sector, as well as a valuable reference point for scholars of energy law and arbitration.

The modern world is built on commodities - from the oil that fuels our cars to the metals that power our smartphones. We rarely stop to consider where they have come from. But we should.

The World for Sale lifts the lid on one of the least scrutinized corners of the world economy: the billionaire commodity traders who buy, hoard, and sell the earth's resources. It is the story of how a handful of swashbuckling businessmen became indispensable cogs in global markets, enabling an enormous expansion in international trade and connecting resource-rich countries - no matter how corrupt or war-torn - with the world's financial centers.

The result is an eye-opening tour through the wildest frontiers of the global economy, as well as a revelatory guide to how capitalism really works.

This innovative book explores the legal character of petroleum licences, a key vehicle governing the relationship between oil companies and their host states. Examining the issue through the lens of legal culture, it illustrates why some jurisdictions exert strong state control and others only minimal.Critically investigating the nature of a petroleum licence, the book analyses whether it is a mere administrative right, a contract or something more akin to property rights. Chapters examine recent developments, such as the UK's strategy of maximizing economic recovery and the opposition to drilling for oil in Norway and Australia. Outside of Western petroleum jurisdictions, the book also explores several long-established jurisdictions including Russia and Mexico, as well as emerging jurisdictions, such as China and Uganda. Taking a contextual and system-oriented approach, it reveals the preconditions of the petroleum licence regime and offers a critical insight into the reasons behind alterations to the terms of the licences. Encompassing a wide variety of legal cultures and experiences, this thought-provoking book will prove to be a valuable resource for academics and students of energy law, particularly those with an interest in state regulation. It will also provide useful insights for industry-based practitioners.

This Handbook provides an in-depth analysis of the multiple ways in which oil has shaped, changed and affected international relations and global politics. Theoretically innovative, it provides new insights into the interaction between the materiality of oil and its social, economic and political manifestations. International contributors address the continuing legacy of oil, colonialism, and neo-imperialism and how this has had lasting effects on regions like the Middle East, Africa and Latin America. Chapters also assess the complex ways in which oil has influenced the trajectory of global capitalism with the emergence of multiple and powerful economic actors and institutions, and how this has affected the less powerful, the marginalised and the dispossessed. The Handbook concludes by considering the future of oil in the context of the transition to a low-carbon energy system and the challenges and geopolitical consequences of a world becoming less dependent on oil. Exploring the interaction between oil, hegemony and the international political order, this Handbook will be critical reading for scholars and students of international relations, energy policy and environmental governance and regulation. It will also be beneficial for practitioners and policy makers in the field of the international political economy of energy.

This book examines Russia's capacity to respond to a changing world through the lens of the country's oil industry. Against a backdrop of social, political and climatic change, Indra Overland and Nina Poussenkova present a systematic analysis of how modern energy developments in the form of shale oil, offshore oil and the global energy transition are handled. The book profiles Russia's five largest oil companies - Rosneft, LUKOIL, Gazprom Neft, Surgutneftegas and Tatneft - which are vital channels for much of Russia's income and constitute the backbone of the Russian economy. It explores the importance of the petroleum sector to Russian society, the place of Russian oil and gas in the world's energy supply and the rapid pace of change in the global energy industry. In doing so, it offers insights into internationalization, oil price fluctuations, corporate social responsibility and the impact of Western sanctions against Russia. This is an important read for scholars working on the Russian economy and energy business, particularly corporate social responsibility, organisational change and politics. It will also be a helpful reference tool for anyone working on the global petroleum sector who needs an update on the world's largest energy exporter.

The second edition of The Political Economy of Iraq is as comprehensive and accessible as the first with updated data and analysis. Frank R. Gunter discusses in detail how the convergence of the ISIS insurgency, collapse in oil prices, and massive youth unemployment produced a serious political crisis in 2020. This work ends with a discussion of key policy decisions that will determine Iraq's future. This volume will be a valuable resource for anyone with a professional, business, or academic interest in the post-2003 political economy of Iraq.

As the ice around the Arctic landmass recedes, the territory is becoming a flashpoint in world affairs. New trade routes, cutting thousands of miles off journeys, are available, and the Arctic is thought to be home to enormous gas and oil reserves. The territorial lines are new and hazy. This book looks at how Russia deals with the outside world vis a vis the Arctic. Given Russia's recent bold foreign policy interventions, these are crucial issues and the realpolitik practiced by the Russian state is essential for understanding the Arctic's future.Here, Geir Honneland brings together decades of cutting-edge research - investigating the political contexts and international tensions surrounding Russia's actions. Honneland looks specifically at 'region-building' and environmental politics of fishing and climate change, on nuclear safety and nature preservation, and also analyses the diplomatic relations surrounding clashes with Norway and Canada, as well as at the governance of the Barents Sea. The Politics of the Arctic is a crucial addition to our understanding of contemporary International Relations concerning the Polar North.

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.

The conventional and modern well test interpretation methods are an important tool in the petroleum engineer's toolkit. Used in the exploration and discovery phase of a field, they are performed to determine the quality of a well or to permit estimation of producing rates at different producing pressures. However once a field enters the middle and later development phase, the reservoir flow environment grows increasingly complex and conventional or modern methods do not satisfy the needs of old field development and evaluation. Based on over 10 years of field and research experience, Streamline Numerical Well Test Interpretation Theory and Method provides an effective method for the determination of residual oil distribution for the middle and mature phases of a field. One of the most advanced books available, the author explains the development history of well test theory, analyzes the limitation of modern well test interpretation method, and proposes the concept and framework of numerical well test. This is quickly followed by an introduction of basic principles and solution procedures of streamline numerical simulation theory and method. The book then systematically applies streamline numerical well test interpretation models to a multitude of reservoir types, ranging from single layer reservoir to multi-layer reservoirs. The book presents multi-parameter streamline numerical well test automatic match interpretation method based on double-population genetic algorithm, which lays the foundation to fast automatic match of numerical well test. The book introduces streamline numerical well test interpretation software with independent intellectual property right which is programmed based on the above theoretical studies.

Unconventional Oil and Gas Resources Handbook: Evaluation and Development is a must-have, helpful handbook that brings a wealth of information to engineers and geoscientists. Bridging between subsurface and production, the handbook provides engineers and geoscientists with effective methodology to better define resources and reservoirs. Better reservoir knowledge and innovative technologies are making unconventional resources economically possible, and multidisciplinary approaches in evaluating these resources are critical to successful development. Unconventional Oil and Gas Resources Handbook takes this approach, covering a wide range of topics for developing these resources including exploration, evaluation, drilling, completion, and production. Topics include theory, methodology, and case histories and will help to improve the understanding,integrated evaluation, and effective development of unconventional resources.

Is the earth's oil supply starting to run out, or is there far more oil than some experts believe? This book points out flaws in the research used to warn of an oil shortfall and predicts that large new reserves of oil are soon to be tapped. In the last decade, oil experts, geologists, and policy makers alike have warned that a peak in oil production around the world was about to be reached and that global economic distress would result when this occurred. But it didn't happen. The "Peak Oil" Scare and the Coming Oil Flood refutes the recent claims that world oil production is nearing a peak and threatening economic disaster by analyzing the methods used by the theory's proponents. Author Michael C. Lynch, former researcher at Massachusetts Institute of Technology (MIT), debunks the "Peak Oil" crisis prediction and describes how the next few years will instead see large amounts of new supply that will bring oil prices down and boost the global economy. This book will be invaluable to those involved in the energy industry, including among those fields that are competing with oil, as well as financial institutions for which the price of oil is of critical importance. Lynch uncovers the facts behind the misleading news stories and media coverage on oil production as well as the analytic process that reveals the truth about the global oil supply. General readers will be dismayed to learn how governments have frequently been led astray by seeming logical theories that prove to have no sound basis and will come away with a healthy sense of skepticism about popular economics.

This study examines how China has developed a diplomatic mechanism to expand its international influence through the establishment of strategic partnerships. These strategic partnerships have sparked a debate among analysts. On the one hand, some optimistic studies applaud the win-win objective of China's foreign policy and portray China as a successful model for developing countries. On the other hand, more skeptical studies depict China as a rising imperial power that represents a competitive threat to Latin America. This book focuses on China's strategic partnerships with Argentina, Brazil, Mexico, and Venezuela within the oil sector. It stresses how Chinese strategic partnerships with each of these four countries have diverged across cases over time (1991-2015). The study finds that the strategic partnerships are asymmetrical in which China benefits more than four Latin American countries in a variety of aspects. I suggest Latin American countries to push for greater diversification of export agenda toward China, to develop new productive partnerships beyond traditional sectors and to increase the competitiveness of firms. Meanwhile, China's diplomatic actions toward Latin America are more than likely to result in forms of change, particularly across my four country cases, and where strategic partnerships are concerned.

Oil is the world's most important commodity. It is also one of the most politicized, with national oil companies controlling most of the world's reserves. Contrary to conventional wisdom, Llewelyn Hughes shows that governments across the advanced industrial states responded to the politicization of oil in the 1970s by freeing prices, lowering barriers to trade, and privatizing national oil companies. How did this come about? And why do some governments continue to support domestic firms? In answering these questions, Hughes shows that the politicization of oil also led to a transformation in oil market governance by changing the balance of risk and opportunities facing firms. He also shows that their ability to benefit from this change was conditioned by previous attempts to shape the competitive landscape in their favor. Hughes' study has important implications not only for the politics of oil, but also for the study of economic liberalization.

Oil and gas engineers today use three main factors in deciding drilling fluids: cost, performance, and environmental impact, making water-based products a much more attractive option. Water-Based Chemicals and Technology for Drilling, Completion, and Workover Fluids effectively delivers all the background and infrastructure needed for an oil and gas engineer to utilize more water-based products that benefit the whole spectrum of the well's life cycle. Helping to mitigate critical well issues such as formation damage, fluid loss control, and borehole repair, more operators demand to know the full selection of water-based products available to consistently keep a peak well performance. This must-have training guide provides the necessary coverage in the area, broken down by type and use, along with an extensive list of supportive materials such as a chemical index of structural formulas and helpful list of references for further reading. In addition to understanding the types, special additives, and chemical compatibilities of the products available, the reader will also learn proper waste disposal techniques, including management of produced water, a component mandatory to hydraulic fracturing operations. Concise and comprehensive, Water-Based Chemicals and Technology for Drilling, Completion, and Workover Fluids details all the necessary educational content and handy references to elevate your well's performance while lowering your environmental impact.

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.

Oil and gas companies are continually upgrading drilling and production facilities in response to safety, regulatory, and technology advances, causing the amount of data that an operator must interpret in order to optimize a facility's production to increase exponentially. Trained employees are at premium demand in the field, and companies are willing to pay for skills. However, there are too many skill-specific positions available and too many untrained applicants, and companies within this industry lack the recruiting, training, and experience necessary to train them. Workforce Education at Oil and Gas Companies in the Permian Basin: Emerging Research and Opportunities is an essential scholarly resource that examines changing technical, data analysis, and decision-making skills required of operations or maintenance personnel, as well as expectations for future changes. The book contrasts these needs against a typical oilfield worker's education level and skillset in order to target potential solutions for the challenges that face today's workforce. Highlighting topics such as economic development, oilfield technology, and employee training, this book is geared toward oil and gas workers, training facilitators, education practitioners, industry professionals, academicians, and researchers.

Mo(W)-Based Catalysts have the capacity to drastically impact many different industries. Research on their most current applications is important for the success of many organizations and companies, specifically the chemical and petroleum industries. Innovative Applications of Mo(W)-Based Catalysts in the Petroleum and Chemical Industry: Emerging Research and Opportunities is an informative resource that overviews emerging methods and techniques that incorporate 2D layer Mo(W) dichalcogenides. Featuring extensive coverage on a range of subjects including 2D nanosheets, hybridization, dichacogenides, and oxide based catalysts, this is an ideal publication for academicians, students, engineers, and researchers seeking insight on the latest advancements in Mo(W)-Based catalyst applications.

Petroleum Development and Environmental Conflict in Aotearoa New Zealand: Texas of the South Pacific examines the dilemmas associated with economic growth through the expansion of resource extraction. States seeking to grow their economies through the expansion of resource extraction are forced to cope with the rising influence of transnational corporations on domestic politics and democratic institutions; to mitigate the environmental damage from increased extraction activities; to respond to the mounting evidence which indicates that unconventional oil and gas development practices are harming communities, local environments, and human health; and to manage the international pressures and citizens' demands that climate change is addressed through a transition from fossil fuel dependence to a clean-energy economy. Terrence M. Loomis analyzes the circumstances under which environmental opposition to state policies to promote oil and gas development-in collaboration with the petroleum industry-, has lead to far-reaching changes in institutional relations between the state and civil society.

This study examines how China has developed a diplomatic mechanism to expand its international influence through the establishment of strategic partnerships. These strategic partnerships have sparked a debate among analysts. On the one hand, some optimistic studies applaud the win-win objective of China's foreign policy and portray China as a successful model for developing countries. On the other hand, more skeptical studies depict China as a rising imperial power that represents a competitive threat to Latin America. This book focuses on China's strategic partnerships with Argentina, Brazil, Mexico, and Venezuela within the oil sector. It stresses how Chinese strategic partnerships with each of these four countries have diverged across cases over time (1991-2015). The study finds that the strategic partnerships are asymmetrical in which China benefits more than four Latin American countries in a variety of aspects. I suggest Latin American countries to push for greater diversification of export agenda toward China, to develop new productive partnerships beyond traditional sectors and to increase the competitiveness of firms. Meanwhile, China's diplomatic actions toward Latin America are more than likely to result in forms of change, particularly across my four country cases, and where strategic partnerships are concerned.

In this unique work, Jennifer Considine and William Kerr contend that while OPEC currently dominates the international oil market, Russia will be a key player in the future international energy market. Indeed, Russia's petroleum resources rival those of Saudi Arabia. More than almost any other industry, future performance is often determined by the influence of decisions made in the past. This book provides a detailed history of the development of the Russian oil economy in order to build up a comprehensive and discerning picture of its future role and significance in the global energy market of the 21st century. The authors of this path-breaking treatment of the Russian oil economy present: * an assessment of the effects of the political and macroeconomic development of the Russian Federation and former Soviet Union on the resources, reserves and infrastructure of the current oil industry * an economic evaluation of the contemporary policies and institutions in the Russian Federation, including policy recommendations and forecasts * detailed statistics on all aspects of the Russian oil industry, including reserves, production, five-year planning targets, government policy, and tax rates, from 1860-2001. The Russian Oil Economy will be of enormous interest to a wide-ranging audience, encompassing oil industry executives and analysts, investment bankers, energy consultants, energy policymakers, and those involved in the study, teaching and research of energy, Russian history and transition.

Enhanced-Oil Recovery (EOR) evaluations focused on asset acquisition or rejuvenation involve a combination of complex decisions, using different data sources. EOR projects have been traditionally associated with high CAPEX and OPEX, as well as high financial risk, which tend to limit the number of EOR projects launched. In this book, the authors propose workflows for EOR evaluations that account for different volumes and quality of information. This flexible workflow has been successfully applied to oil property evaluations and EOR feasibility studies in many oil reservoirs. The methodology associated with the workflow relies on traditional (look-up tables, XY correlations, etc.) and more advanced (data mining for analog reservoir search and geology indicators) screening methods, emphasizing identification of analogues to support decision making. The screening phase is combined with analytical or simplified numerical simulations to estimate full-field performance by using reservoir data-driven segmentation procedures.
Case Studies form Asia, Canada, Mexico, South America and the United States

Assets evaluated include reservoir types ranging from oil sands to condensate reservoirs.

Different stages of development and information availability are discussed

With extraction out of depleted wells more important than ever, this new and developing technology is literally changing drilling engineering for future generations. Never before published in book form, these cutting-edge technologies and the processes that surround them are explained in easy-tounderstand language, complete with worked examples, problems and solutions. This volume is invaluable as a textbook for both the engineering student and the veteran engineer who needs to keep up with changing technology.