Petroleum economics is about how oil and gas activities are driven by economic considerations, and how the values are shared. The 5 days sophisticated training course in petroleum economics is an entrylevel course designed to bridge gaps in your knowledge and give. While economics in general is a complex subject, in the case of oil, political concerns add a new layer to the study of economics. We consider different market structures, such as perfect competition, monopoly, and price leadership. To introduce the basic concepts and background for the financial and economic assessment of projects within the petroleum industry. Petroleum economics 1 petroleum economics istvan csato department of geological sciences university of south carolina january 2002 source eia 2 world oil demand oil consumption declines. Use the tools and concepts on petroleum investment projects a field development project an exploration project be able to understand the concepts used and do the economic calculations needed in the case study. Understanding the business of processing crude oil into fuels and other value added products. These include competent persons reports cprs for stock market listings, reserve audits and data room evaluations for asset acquisitions, and fiscal design and market studies for government organisations. He has a phd from the norwegian school of economics nhh. View petroleum economics research papers on academia. Oil and the economy cyclical and structural impact. Petroleum economics free download as powerpoint presentation.
Just about anyone working with the petroleum sector needs to understand some fundamentals of its economics. Introduction to petroleum economics, hinkin, chris, ebook. The state must become involved at all appropriate levels and co ntribute to a coordination of norwegian interests in norways petroleum industry as well as the creation of an. Presentation to nhh and mun joint energy workshop on energy economics comparative perspectives on oil and gas development in newfoundland and norway susan gover general counsel date.
This book explains how to apply economic analysis to the evaluation of engineering challenges in the petroleum industry. Download heriotwatt university petroleum economics. Objectives be able to calculate the npv of a project including the collection of all necessary data, carry out decision tree. Introduction to petroleum economics is about the process of gathering project data, calculating whether a project should proceed and delivering recommendations. This handson and practical course takes you through the fundamental financial aspects of a petroleum company.
Markets has recovered from the oil price drop in 2015 but the volatility and uncertainty is still high. Norwegian school of economics nhh, statistics norway and the. It focuses on local content in the supply and services industry, and how policies to enhance local content may contribute to economic growth. Growing refining overcapacity has resulted in recent refin. Presentation to nhh and mun joint energy workshop on. It discusses the science of petroleum economics, starting from squareone, the tools of the trade that petroleum economists use, day in and day out, and also its application. Iaee is composed of country affiliates and direct members throughout the world. The effect of tax revenue on economic growth and development in nigeria abstract the contribution of taxation to any economy globally cannot be overemphasized. This traditional economics conference is your opportunity to get the latest and greatest update from the industry and a unique opportunity to network and meet new colleagues. Here you can find petroleum economics pdf shared files. Pdf petroleum economics, risk and opportunity analysis. Petroleum economics is a complicated series of political and economic interactions pertaining to the oil industry. Introduction to probability distribution and petroleum.
Upstream petroleum economics is a window into the world of the oil and gas business. This course will introduce a variety of fundamental petroleum economic principles including revenue, expenditures, fiscal systems, risk analysis, and investment analysis. Submissions will only be considered after payment of the submission fee via submissionstart. Petroleum economics distance learning training course. On completion of the petroleum economics and management program, students are expected to. Macro lunch, nhh bergen, 11 november 20 klaus mohn, professor of petroleum economics klaus.
Petroleum from the ncs must as a general rule be landed in norway, except in those cases where sociopolitical considerations dictate a different solution 7. Petroleum economics is one of the most influential players in the world economy, so having a comprehensive understanding of this vital area is key for anyone working within the oil and gas or energy industries. Almost every decision is made on the basis of an economic evaluation. The certificate in petroleum economics is the ideal course for both individuals and corporate groups to develop this crucial knowledge.
Ppt petroleum economics powerpoint presentation free. It is a great pleasure and honor to welcome you to the annual petroleum economics conference 2018 to be held at clarion hotel airsola on 25 and 26th of september. In the beginning of the 1990s, the norwegian petroleum industry experienced a cost level that did not justify new offshore development projects. The economics of it are better than of the carbonfossil model. Our conferences provide the opportunity to hear the latest research in energy economics and. In part iii, we discuss the basic principles of petroleum taxation and investigate the norwegian petroleum taxation system and its development. The report analyzes local industrial development related to the upstream petroleum sector in six selected oilexporting countries.
This part also looks at the management of petroleum wealth. This course is an excellent introduction to the fundamentals of petroleum economics. This training course teaches you the fundamental financial aspects of a petroleum company. Energy management 0206 march 2015 dubai, 1620 march 2015 moscow, 2327 march 2015 istanbul 2. Within north america, recent demand for refined petroleum products has been flat to declining and is forecast to continue on this path. Introduction to probability distribution and petroleum project economics c o n t e n t s part 1. However i wish it could be updated by the authors or other scholars interested in petroleum industries. Expanded basic petroleum economics training course. People who study petroleum economics need to be familiar with economics generally, but also geopolitical history and the history of the oil industry. Petroleum economics net present value internal rate of. Iaee prides itself as being a place where energy economic professionals can quickly learn about the literature and people sources in every subfield of the professionals. Chapter 8 petroleum for the foreseeable future, oil will remain a critical fuel for the united states and all other industrialized nations. Economic evaluations are also performed to determine reserves and the standardized measure of value for reporting purposes for publicly held companies.
Economics drives the entire oilgas producing industry. Download petroleum economics pdf files tradownload. Previously, he worked as an independent petroleum economist engaging in all aspects of petroleum economics including commercial evaluations. Wood and others published petroleum economics, risk and opportunity analysis. Luanda, angola, september 14 16, 2016 usd 2100 per participant maputo. Be able to take up a position requiring multidisciplinary skills in the energy sector, gain an understanding of the upstream and downstream energy sectors in their economic, commercial, financial and environmental. Pdf the relatively slow pace of nigerias development has often been attributed to the phenomenon. The applicability of various probability distributions to the petroleum project development cost analysis is discussed. Guest lecture at the norwegian school of economics.
Pdf political economy of the petroleum sector in nigeria. In 19921993, he was a research fellow at the massachusetts institute of technology. It is an excellent book because it considers all economic aspects of the petroleum industry. Discussion progresses from an introduction to the industry, through principles and techniques of engineering economics, to the application of economic methods. Offshore petroleum financial requirements regulations oil and gas operations. Introduction to petroleum economics society of petroleum. Request pdf fundamentals of petroleum economics decisions on investment in any oil or gas field development will be made on the basis of its value. To reduce development time and costs drastically on the norwegian shelf, economic and technical task forces were appointed, with members from the oil companies, the suppliers and government. Pdf this chapter assesses the importance of civil society involvement. The 5 day training will reveal the fundamental aspects of upstream petroleum economics and risk analysis. Kent saugier is a handson scientific, technology and business professional with twentyfive years experience in upstream oil and gas, offshore technology, economics, economic modeling, international petroleum contracts, project management, software applications and technology including design, licensing and commercialization. An empirical study of performance appraisal and career opportunities. Orlandi encyclopedia of life support systems eolss these shows structural characteristics, relations of strength, economic and political dynamics which cannot be immediately attributed to the traditional life cycle of an industry and which indeed can no longer be repeated. Cost estimates and investment decisions openaccess.
Summary energy politics is about energy technology advocating a fastmassive switch to a fuelfree energy system, to avoid hitting the wall in full speed. Generating a view on expected outcome and uncertainty 4 1. International opportunities as an nhh student you have excellent opportunities to gain valuable international experience during your studies through exchange programmes, the cems masters in international management mim, double degree and summer courses. This course is an introduction on how the petroleum industry finds and develops oil but dives deep into the economic reasons.