Skip to Content


Last modified: 31 Jul 2023 11:19

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 Aberdeen Sustained Study No
  • Professor Frans de Vries

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

  • Any Postgraduate Programme (Studied)
  • One of MRes Applied Economics or MSc Applied Economics or Msc In Energy, Economics And Law (September Start) or () or Master Of Laws In Energy, Economics And Law (September Start)

What other courses must be taken with this course?


What courses cannot be taken with this course?


Are there a limited number of places available?


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.

Contact Teaching Time

Information on contact teaching time is available from the course guide.

Teaching Breakdown

More Information about Week Numbers

Details, including assessments, may be subject to change until 31 August 2023 for 1st half-session courses and 22 December 2023 for 2nd half-session courses.

Summative Assessments

Alternative Assessment

2,000-word essay 20%

2-hour exam 80%

Alternative Resit Assessment 

2-hour exam 100%

Formative Assessment

There are no assessments for this course.

Course Learning Outcomes

Knowledge LevelThinking SkillOutcome
FactualRememberILO’s for this course are available in the course guide.

Compatibility Mode

We have detected that you are have compatibility mode enabled or are using an old version of Internet Explorer. You either need to switch off compatibility mode for this site or upgrade your browser.