A01=Dr Xiaoyi Mu
A01=Xiaoyi Mu
Age Group_Uncategorized
Age Group_Uncategorized
Author_Dr Xiaoyi Mu
Author_Xiaoyi Mu
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Category1=Non-Fiction
Category=KNB
Category=KNBP
COP=United Kingdom
decommissioning
Delivery_Delivery within 10-20 working days
drilling
eq_bestseller
eq_business-finance-law
eq_isMigrated=2
eq_nobargain
eq_non-fiction
exploration
fracking
Language_English
oil prices
OPEC
PA=Available
petroleum
Price_€20 to €50
PS=Active
refining
shale gas/oil
shale gasoil
softlaunch
Product details
- ISBN 9781911116288
- Dimensions: 148 x 210mm
- Publication Date: 05 Dec 2019
- Publisher: Edinburgh University Press
- Publication City/Country: GB
- Product Form: Paperback
- Language: English
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The availability of low-cost energy from fossil fuels – in particular oil – has been the driving force behind postwar global economic growth, such that the petroleum industry has some of the world’s largest companies. This book examines the economics of the oil and gas industry, from exploration, development and production, to transportation, refining and marketing. At each stage of the value chain, the key economic costs and considerations are presented in order to provide the reader with a comprehensive understanding of the workings of the industry.
The book examines some of the unique economic challenges the industry faces, including negotiating international contracts with host countries (to gain access to hydrocarbons), managing the risks of recovery, implementing cross-border pipelines, dealing with huge variations in the taxation of refined products, and reacting to the effect of price control and subsidization in the OPEC nations which can create massive volatility in pricing. The search for low-carbon fuels, the impact of shale gas, the prospect of finite reserves, and the global political realities of the competing demands of oil-importing and oil-exporting countries are shown to make the sector high risk, but the economic rewards can be huge.
Xiaoyi Mu is Reader in Energy Economics in the Centre for Energy, Petroleum and Mineral Law and Policy at the University of Dundee. Prior to joining the Centre in 2008, he was a Senior Consultant at Global Energy Decisions (now ABB Ventyx) in California, and worked as an analyst at the headquarters of CNPC, China’s largest oil and gas producer.
