BU5557: ISSUES IN ENERGY & PETROLEUM ECONOMICS (2021-2022)

Last modified: 31 May 2022 13:05

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
Term	Second Term	Credit Points	15 credits (7.5 ECTS credits)
Campus	Aberdeen	Sustained Study	No
Co-ordinators	Professor Alex Kemp

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?

None.

What courses cannot be taken with this course?

None.

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 30 August 2024 for 1st term courses and 20 December 2024 for 2nd term courses.

Summative Assessments

Alternative Assessment

Problem sets and small essays 50%

2,500-word Essay 50%

Alternative Resit Assessment

2,500-word Essay 100%

Formative Assessment

There are no assessments for this course.

Course Learning Outcomes

Knowledge Level	Thinking Skill	Outcome
Factual	Remember	ILO’s for this course are available in the course guide.