The Mexican expropriation of British and American properties in March 1938 marked the first time any oil-producing country successfully stood up to foreign companies who claimed to own oil properties in that country and who had the support of their respective governments. Totally reliant on overseas oil at a time when war seemed imminent, British officials responsible for policy toward Mexico immediately emphasized the importance of preventing other oil-exporting nations from following Mexico's lead. Washington also sought to make an example of Mexico--one that would guarantee respect for U.S. businesses operating abroad.

Although both Washington and London wanted to return to the pre-expropriation status quo, Washington was unwilling to work with London to achieve this goal, and Washington's attitude paralleled its reaction to British efforts to get U.S. support on certain defense issues during this critical period. The resulting Anglo-American strife over how to handle Mexico was also consistent with Anglo-American commercial competition and the oil rivalry in Mexico early in the century.

In the emerging post-Cold War new world order, the economics and politics of the oil industry will be quite different. New approaches and mechanisms are under way to deal with new challenges and old difficulties, such as environmental imperatives and the uncertainty of prices and availability. This edited volume provides an authoritative and comprehensive view of changing oil markets through informative discussions on global oil reserves, production and consumption trends, futures markets, refining, the political economy, and global environmental concerns. A very useful tool for researchers, scholars, and businesspeople in energy and environmental policy economics, political economics, economics of natural resources, and regional economics.

Shortlisted for the Financial Times and McKinsey Business Book of the Year Award, and one of The Observer's 'Thirty books to help us understand the world'. Are we really to blame for the climate crisis? Over 70 per cent of global emissions come from the same 100 organisations, but fossil-fuel companies have taken no responsibility themselves. Instead, they have waged a 30-year campaign to blame individuals. The result has been disastrous for our planet. In The New Climate War, renowned scientist Michael E. Mann argues that all is not lost. He draws the battle lines between the people and the polluters - fossil-fuel companies, right-wing plutocrats, and petro-states - and outlines a plan for forcing our governments and corporations to wake up and make real change.

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

The oil price collapse of 1985-6 had momentous global consequences: non-fossil energy sources quickly became uncompetitive, the previous talk of an OPEC 'imperium' was turned upside-down, the Soviet Union lost a large portion of its external revenues, and many Third World producers saw their foreign debts peak. Compared to the much-debated 1973 `oil shock', the `countershock' has not received the same degree of attention, even though its legacy has shaped the present-day energy scenario. This volume is the first to put the oil `counter-shock' of the mid-1980s into historical perspective. Featuring some of the most knowledgeable experts in the field, Counter-Shock offers a balanced approach between the global picture and local study cases. In particular, it highlights the crucial interaction between the oil counter-shock and the political `counterrevolution' against state intervention in economic management, put forward by Ronald Reagan and Margaret Thatcher in the same period.

This contributed volume examines the far-reaching effects of the weakening of OPEC's cohesion and influence in the 1980s, the resulting decline of oil prices, and the accompanying economic reversals. These events resulted in both fortune and misfortune for oil users and producers and dramatically changed energy economics worldwide. Moreover, as revealed in this volume, the decade of the 1980s demonstrated that oil producers and oil importers can prosper in an atmosphere of mutual respect, cooperation, and moderation.

The work examines major oil-related topics such as the experiences of OPEC and non-OPEC oil suppliers in the 1980s, adjustment and response of oil importers to changes in the oil market, the impact of oil price changes on both the developed and developing world, and possible future developments in the global oil market. This volume will be of interest to scholars of energy and international economics, as well as professionals in the area of energy development and markets.

This book discusses the relations between the United States and Egypt from Roosevelt to Eisenhower. To protect the free flow of oil, American policymakers looked to Egypt to provide the progressive, pro-Western leadership they believed would insure stability to the region. America's attempts to balance the needs of its British allies with those of Egypt coupled with Egypt's quest for regional hegemony proved to be a recipe for trouble. In the end, America failed in grooming Egypt as the pro-Western leader, could not bring peace to the region, and could not prevent the Soviet Union from gaining a foothold. Yet, the oil continued to flow.

"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. "

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.

Because political events can determine the success or failure of an investment abroad, transnational companies must make every effort to analyze political risks as part of the decisionmaking process. States and Companies, written especially for students of international business and executives of transnational companies, presents a conceptual framework for the analysis of political risk. Although the author focuses his study on the international oil industry, his explanatory model of political risk is applicable to most transnational companies. Lax's study is important because it focuses on developing a context for understanding political risk rather than simply offering a predictive methodology. He provides the theoretical groundwork for this understanding by explaining political risk in terms of a broader theory of interaction between host states and transnational corporations. The inherent conflict of interests and issues hierarchies between these two actors, Lax argues, is the root cause of political risk.

This work follows upon the author's previous volume, The Political Economy of Venezuelan Oil, and investigates the general workings of the Mexican oil industry in relationship to the economics and politics of Mexico. Specifically the author examines Mexico's state-run oil concern, PEMEX, and the costs and benefits of Mexican oil policy--for the nation as a whole and for special groups. Using in-depth interviews and extensive data from PEMEX and other sources, Randall explores issues such as PEMEX's relationships with workers and the oil union, with suppliers of capital goods and services, with the regions in which oil is produced, and with specific groups of oil consumers. Given the critical and negative publicity PEMEX has received over its lifetime, Randall also seeks to answer questions regarding the extent of corruption, overstaffing, and lax management within PEMEX, which she finds to be less than is often alleged. Students of energy and development economics will find Randall's study an important contribution to the literature of Latin American economic policy. In addition to examining the internal workings of PEMEX, Randall describes and analyzes measures taken to correct earlier abuses and to increase efficiency. She reveals the intricate relationships among Mexican oil production, OPEC, the United States, and other nations, and explores the contradictory aspects of Mexican economic and oil policies that inhibit the ability of the oil industry to reach official goals. Throughout, Randall traces the transformation of PEMEX from a nationalized industry that mainly produced crude oil for export to one that has expanded to include refined products and petrochemicals. As a result of this expansion, Randall demonstrates, PEMEX has had a major impact both on the market for labor and capital goods and on the regions in which it operates. Her conclusions regarding the current and future prospects for PEMEX have important implications for the study of economic and energy development throughout the Third World.

Since the discovery of oil, the countries of the Persian Gulf have been caught in a vicious circle. With increasing oil revenues, rulers have made self-enrichment their motivation while foreign powers have exploited the region and provided support for oppressive regimes. Early exploitation of the region's oil was colonial in practice; today, oppressive rulers and foreigners work hand-in-hand to the detriment of the citizenry. Rulers have no incentives to foster good institutions, especially the rule of law, as independent and efficient institutions would undermine their control over oil revenues.This book takes a chronological look at the impact of oil in the region and examines how vast oil revenues have encouraged oppressive governance and corrupted development policies, impeding human, political, and economic progress. Hossein Askari argues that there is an urgent need for visionary political and economic reform in order to prevent a regional catastrophe. Rulers must start by publicly acknowledging that oil belongs to the people of all generations and that it must be managed accordingly - efficiently, equitably, and transparently.

This eagerly awaited book on natural gas policy promises to be the major work on the subject. The result of the "Harvard Study on the Future of Natural GaS," conducted under the auspices of the Energy and Environmental Policy Center at the Kennedy School of Government, it is comprised of ten articles reflecting the ideas, discussions, and debates of recognized experts in the field of energy policy. The result is an in-depth analysis of the energy debate including past regulatory policy and its effect on the consumer industry, deregulation and its current and future impact, and other topics of serious concern to the industry. Policy recommendations are also made.

This book discusses the strategic shift in ownership of Aramco, the Saudi Arabian Oil Company, and its potential impact on Aramco's role in a post- privatized world. Scheduled to become an IPO in 2018, Aramco is on the verge of becoming the largest IPO on the market. As the world's largest oil and gas company, Aramco's impending privatization has important implications for the world's petroleum market. This book, therefore, undertakes an analysis of Aramco, examining its history, its current role in Saudi Arabia's economy, and its future role as an IPO. The chapters highlight the likely outcomes for Aramco in proceeding with its planned IPO and privatization, as well as the various policy options and models available to it by drawing on the privatization of other national oil companies in Norway , Russia, Brazil, and China. The book also explores the complexities that will be involved in transforming Saudi Aramco to a privatized company-albeit with significant government oversight and control-and addresses key questions on the issues likely to be faced, such as IPO pricing, the listing, domain, and market capacity, and potential stakeholders. As such, this book will be of interest to academic researchers studying energy economics, energy policy, and the political economy of the Middle East, as well as private sector decision makers in energy related fields, international organizations, international oil companies, energy commodity traders, and public sector energy policy makers with interest in Saudi Arabia and Aramco's IPO.

This book explores effective environmental impact mitigation for petroleum-based lubricants to reduce their negative persistence during usage and upon end-of-life disposal. The book reviews the basic tribology of lubricants as well as initiatives that may enhance the environmental and economic effectiveness of lubricating oils from the composition design perspective across industries. Considering the blending, application, and disposal of petroleum lubricants in a holistic manner, the book presents and extends current best practices that minimize or eliminate adverse environmental impact throughout the product's life cycle. The book reviews methods including: raw material substitution, minimizing oil losses during and after manufacturing, raw material and energy consumption reduction, and environmentally friendly applications of oil disposal as ways forward for cleaner and more effective production. This book provides readers with strategies for incorporating cleaner production practices into their operations - a benefit to both environmental legal compliance and business competitiveness - all the while preserving the environment for sustainable development. The book is therefore of interest to both manufacturers and consumers in the lubricants industry.

As feedstocks to refineries change, there must be an accompanying change in refinery technology. This means a movement from conventional means of refining heavy feedstocks using (typically) coking technologies to more innovative processes that will coax the last drips of liquid fuels from the feedstock.
This book presents the evolution of refinery processes during the last century and as well as the means by which refinery processes will evolve during the next three-to-five decades. Chapters contain material relevant to (1) comparisons of current feedstocks with heavy oil and bio-feedstocks; (2) evolution of refineries since the 1950s, (3) properties and refinability of heavy oil and bio-feedstocks, (4) thermal processes vs. hydroprocesses, and (5) evolution of products to match the environmental market.
Process innovations that have influenced refinery processing over the past three decades are presented, as well as the relevant patents that have the potential for incorporation into future refineries.
Comparison of current feedstocks with heavy oil and bio-feedstocks.
Evolution of refineries over the past three decades.
Properties and refinability of heavy oil and bio-feedstocks.
Thermal processes vs. Hydroprocesses.
Evolution of products to match the environmental market.

* Investigates the engineering and plant design challenges presented by heavy oil and bio-feedstocks

* Explores the legislatory and regulatory climate, including increasingly stringent environmental requirements

* Examines the trade-offs of thermal processes vs. hydroprocesses"

This book reports the latest work on green technologies in palm oil milling processes, including new processes and various optimisation techniques. It covers the latest developments on palm oil milling process with new technologies, alternative solvent design, residual oil recovery, palm oil mill effluent treatment, palm biomass supply chain, as well as ecoindustrial park concept. The book is intended for industrial practitioners and academics interested in green technologies for palm oil milling processes.

'Clear-eyed and illuminating.' Henry Kissinger, former Secretary of State and National Security Advisor 'A rich, superbly researched, balanced history of the modern Kingdom of Saudi Arabia.' General David Petraeus, former Commander U.S. Central Command and Director of the Central Intelligence Agency 'Destined to be the best single volume on the Kingdom.' Ambassador Chas Freeman, former U.S. Ambassador to Saudi Arabia and Assistant Secretary of Defense 'Should be prescribed reading for a new generation of political leaders.' Sir Richard Dearlove, former Chief of H.M. Secret Intelligence Service (MI6) and Master of Pembroke College, Cambridge. Something extraordinary is happening in Saudi Arabia. A traditional, tribal society once known for its lack of tolerance is rapidly implementing significant economic and social reforms. An army of foreign consultants is rewriting the social contract, King Salman has cracked down hard on corruption, and his dynamic though inexperienced son, the Crown Prince Mohammad bin Salman, is promoting a more tolerant Islam. But is all this a new vision for Saudi Arabia or merely a mirage likely to dissolve into Iranian-style revolution? David Rundell - one of America's foremost experts on Saudi Arabia - explains how the country has been stable for so long, why it is less so today, and what is most likely to happen in the future. The book is based on the author's close contacts and intimate knowledge of the country where he spent 15 years living and working as a diplomat. Vision or Mirage demystifies one of the most powerful, but least understood, states in the Middle East and is essential reading for anyone interested in the power dynamics and politics of the Arab World.

Jackups, semisubmersibles and drillships are the marine vessels used to drill offshore wells and are referred to collectively as mobile offshore drilling units (MODUs). MODUs are supplied through newbuild construction and operate throughout the world in highly competitive regional markets. The Offshore Drilling Industry and Rig Construction Market in the Gulf of Mexico examines the global MODU service and construction industry and describes the economic impacts of rig construction in the United States. The industrial organization and major players in the contract drilling and construction markets are described and categorized. Dayrates in the contract drilling market are evaluated and hypotheses regarding dayrate factors are tested. Models of contractor decision-making are developed, including a net-present value model of newbuilding investment and stacking decisions, and market capitalization models are derived. Jackup construction shipyards and processes are reviewed along with estimates of labor, equipment, and material cost in U.S. construction. Derivation of newbuild and replacement cost functions completes the treatise. The comprehensive and authoritative coverage of The Offshore Drilling Industry and Rig Construction Market in the Gulf of Mexico makes it an ideal reference for engineers, industry professionals, policy analysts, government regulators, academics and other readers wanting to learn more about this important and fascinating industry.

From Oil to Gas and Beyond chronicles the history of the petroleum industry in Trinidad and Tobago and appraises major policy decisions impacting its economy. The book details the macroeconomic, commercial, and technical challenges faced by Trinidad and Tobago in the monetization of its oil and gas resources over the past one hundred years. The contributors cover several topics including local content, national participation, sustainability, communication, leadership, energy diplomacy, environmental law and macroeconomic policy.

This work is the only economic history of Venezuela written in English. In it, Salazar-Carrillo provides estimates that have not been published previously on the Venezuelan economy in general, and the oil component in particular. Evolution of the oil industry in Venezuela is covered in detail and the concept of the retained value of oil expenditures and tnvestment is developed. Recent government policies and the performance of the Venezuelan economy are evaluated, and export-oriented strategies are considered. The appropriateness of these plans in fostering economic development is discussed.

This volume offers refineries a practical guide to implementing environmental management systems (EMS). The author, who has implemented hundreds of successful EMS programs throughout North America, Europe, Eastern Europe, Russia and the Middle East, provides a detailed explanation of what an EMS is and how it can benefit refinery operations in complying with environmental laws and improving the overall efficiency of their operations. The authors approach, which does not focus, like most programs, only on compliance, has been internationally recognized as an integrated model that captures improved compliance and financial savings by reducing operating costs through dedicated pollution prevention programs.