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BU5557: ISSUES IN ENERGY & PETROLEUM ECONOMICS (2016-2017)

Last modified: 16 Nov 2016 18:00


Course Overview

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.

 

Course Details

Study Type Postgraduate Level 5
Session Second Sub Session Credit Points 15 credits (7.5 ECTS credits)
Campus None. Sustained Study No
Co-ordinators
  • Professor Alex Kemp

What courses & programmes must have been taken before this course?

  • One of MRes Applied Economics (Studied) or MSc Applied Economics (Studied) or MSc (Econ) in Petroleum, Energy Economics and Finance (Studied)
  • Any Postgraduate Programme (Studied)

What other courses must be taken with this course?

None.

What courses cannot be taken with this course?

None.

Are there a limited number of places available?

No

Course Description

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.

Further Information & Notes

None.

Degree Programmes for which this Course is Prescribed

  • MSc (Econ) in Petroleum, Energy Economics and Finance

Contact Teaching Time

57 hours

This is the total time spent in lectures, tutorials and other class teaching.

Teaching Breakdown


Assessment

1x 2hr written examination (80%) and one essay/assignment (20%).

Resit: 100% on 2 x hour written examination.

Formative Assessment

None.

Feedback

None.

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