Last modified: 28 Jun 2018 10:27
Much of this course is devoted to petroleum policies. Concepts of economic rents from petroleum exploitation and the various mechanisms by which the rents can be collected by the state are discussed, including production sharing and service contracts. Licensing policies, including relinquishment terms, pricing, procurement, domestic market obligations, the role of state oil companies, and depletion policy are examined. The Oil Fund concept and the issue of oil and gas security of supply are discussed. State and private ownership and control of gas acquisition, transmission and distribution to customers are examined. The economics of CO2 capture and storage is discussed.
|Session||Second Sub Session||Credit Points||15 credits (7.5 ECTS credits)|
This course will develop student skills by examining in detail selected issues central to understanding energy and petroleum economics such as: petroleum policies; collective of economic rents (bonus bids/royalties/taxation); licensing and other policy issues - relinquishment terms; depletion policy; procurement; pricing policy; oil funds. Modelling prospects for an oil province. Economics of decommissioning. Economics of auctions. Economics of liability. Renewable energy and bio-fuels. Modelling energy demand. Markets for tradable emissions of analysis. Seminars will be of equal significance and will focus on applications. Coursework will involve students undertaking their own independent research.
This is the total time spent in lectures, tutorials and other class teaching.
1x 2hr written examination (80%) and one essay/assignment (20%).
Resit: 100% on 2 x hour written examination.