Publications
The results of OIES research is published as working papers, energy comments, presentations and articles as well as commercially published books and monographs.
The views expressed in all OIES publications are those of the authors and do not necessarily represent the views of the Oxford Institute for Energy Studies or any of its Members.
Protection against Default in Long Term Petroleum Joint Ventures
Published: 15th May 2012| By: Eduardo Pereira
Sharing costs and risks are the basic foundation of any the joint venture. However, the required financial commitments might be jeopardized either by a co-venturer who cannot afford the payment of the related costs or a co-venturer who simply chooses not to pay its share. The petroleum industry tends to rely on the forfeiture of [...]
Download the Publication 1.03MBCategories / Energy Security, Finance, Gas, Oil, Oil & Middle East Programme, Working Papers, Working Papers
Fiscal Policy and Natural Resource Entitlements: Who Benefits from Mexican Oil?
Published: 14th May 2012| By: Paul Segal
This paper suggests a new approach to analysing the distribution of natural resource revenues and applies it to the case of Mexico. It defines a natural resource entitlement as a citizen’s per capita share of their country’s natural resource rents. The main finding is that, according to official estimates, Mexican fiscal policy transfers oil entitlements [...]
Download the Publication 421.39KBCategories / Country and Regional Studies, Energy Policy, Oil, Oil & Middle East Programme, Working Papers, Working Papers
Is Energy Efficiency Sustainable?
Published: 1st May 2012| By: Malcolm Keay
This presentation by Malcolm Keay was delivered at a British Institute of Energy Economics seminar on 25 April 2012. It looks at the links between energy efficiency and sustainability and concludes that they are much more complex than they might appear at first sight.
Download the Publication 724.78KBCategories / Energy and the Environment, Energy Economics, Energy Policy, Presentations
The Financialization of Oil Markets: Potential Impacts and Evidence
Published: 18th April 2012| By: Kate Teasdale
The financialization of oil futures markets has been held responsible for a variety of phenomena including changes in price volatility, increased co-movement between oil futures prices and other financial asset and commodity prices, a breakdown of the statistical relationship between oil inventories and the price of oil, and an increased influence of the decisions of [...]
Download the Publication 874.98KBCategories / Energy Policy, Finance, Oil, Oil & Middle East Programme, Presentations, Presentations
Will There be a Shale Gas Revolution in China by 2020?
Published: 18th April 2012| By: Fan Gao
This paper, by Fan Gao, assesses the extent to which China is likely to achieve levels of shale gas production by 2020 which would make a meaningful difference to its growing need for imports of pipeline gas and LNG. The study suggests that given the rather disappointing progress on Coal Bed Methane production since exploration [...]
Download the Publication 2.3MBCategories / Country and Regional Studies, Energy Economics, Gas, Gas Programme, Working Papers
Lessons from the February 2012 European gas “crisis”
Published: 16th April 2012| By: James Henderson, Patrick Heather
In February 2012, during a period of extremely cold weather across Russia and large parts of Europe, Gazprom failed to supply all the gas that was requested from it by its non-CIS customers in countries ranging from Poland in the north to Italy and Greece in the south of Europe. This situation led to concerns [...]
Download the Publication 338.82KBCategories / Country and Regional Studies, Energy Comments, Energy Policy, Energy Security, Gas, Gas Programme
Oil Markets in 2012: Calm or Turbulent Waters?
Published: 11th April 2012| By: Bassam Fattouh
To most analysts, the combination of geopolitical and economic factors constitutes a ‘perfect storm’ that will keep an upward pressure on oil the price for the rest of 2012. The purpose of this short article is to broaden the debate and consider some potential weaknesses in the dominant story. The article will highlight three main [...]
Download the Publication 655.52KBCategories / Energy Comments, Energy Comments, Energy Policy, Finance, Oil, Oil & Middle East Programme
The Role of Speculation in Oil Markets: What Have We Learned So Far?
Published: 30th March 2012| By: Bassam Fattouh, Lutz Kilian, Lavan Mahadeva
A popular view is that the surge in the price of oil during 2003-08 cannot be explained by economic fundamentals, but was caused by the increased financialization of oil futures markets, which in turn allowed speculation to become a major determinant of the spot price of oil. This interpretation has been driving policy efforts to [...]
Download the Publication 365.13KBCategories / Finance, Oil, Oil & Middle East Programme, Working Papers, Working Papers
Comments on October 2011 Guidance Issued by Treasury on Valuation of Greenhouse Gas Emissions
Published: 30th March 2012| By: John Rhys
The EU emissions trading system is failing to produce a carbon price that is efficacious in promoting low-carbon investment or a low-carbon economy. Carbon price projections from this scheme are nevertheless incorporated in the formal guidance issued by the UK Treasury to guide government departments in appraising policy initiatives and projects. The Treasury’s guidance deals [...]
Download the Publication 97.53KBCategories / Energy and the Environment, Energy Comments, Energy Economics, Energy Policy
Issue 87, February 2012
Published: 27th March 2012| By: OIES
Oil Price Benchmarks in International Trade by Jorge Montepeque, Liz Bossley, Christophe Barret, Peter Stewart, Mike Davis, Bassam Fattouh, Amrita Sen, Peter Caddy, Giacomo Luciani, Salvatore Carollo
Download the Publication 1.47MBCategories / Oxford Energy Forum