Oil
Energy Subsidies in the Arab World
Published: 21st February 2012| By: Bassam Fattouh, Laura El-Katiri
This paper, authored by Bassam Fattouh and Laura El-Katiri and published by the United Nations Development Programme, explores the issue of energy subsidies in the Arab World. The authors argue that while energy subsidies may be seen as achieving social objectives (such as expanding energy access and protecting poor households’ incomes); economic objectives (such as [...]
Categories / Country and Regional Studies, Energy Policy, Oil, Oil & Middle East Programme, Working Papers
Natural Gas Price Volatility in the UK and North America
Published: 2nd February 2012| By: Sofya Alterman
Lacking a commonly held definition, volatility is an often over-generalised term with different meanings to different constituencies. This does not detract from the importance of the subject. To traders volatility is a source of revenue, to energy intensive industrial end-users it is often perceived as a threat. Midstream utilities actively work to risk-manage volatility in [...]
Download the Publication 1.65MBCategories / Country and Regional Studies, Energy Economics, Gas, Gas Programme, Oil, Working Papers, Working Papers
Rosneft – On the Road to Global NOC Status?
Published: 19th January 2012| By: James Henderson
Since the election of Vladimir Putin as president of Russia in 2000 Rosneft has become one of the cornerstones of the strategy for the Russian state to retake control over the ‘commanding heights’ of the economy, and in particular the energy sector. However, having now established itself as a global-scale oil company, Rosneft faces a [...]
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The Outlook for U.S. Gas Prices in 2020: Henry Hub at $3 or $10?
Published: 21st December 2011| By: Michelle Michot Foss
In this paper Michelle Foss concludes that Henry Hub gas prices could credibly be as low as $3/MMbtu, or as high as $10/MMbtu in 2020 but that the balance of likelihoods is for a price late this decade which is significantly higher than the current $3-4/MMbtu levels of 2011. Michelle Foss’ study looks at the [...]
Download the Publication 3.05MBCategories / Country and Regional Studies, Energy Economics, Energy Policy, Energy Security, Gas, Gas Programme, Oil, Working Papers, Working Papers
The Implications of the Arab Uprisings for Oil and Gas Markets
Published: 13th September 2011| By: Hakim Darbouche, Bassam Fattouh
The events that took place in the Arab world in the opening months of 2011 mark a watershed in the history of the Middle East and North Africa (MENA) region. Given the importance of MENA energy supplies in global economic terms, the political unrest witnessed by the region has caused widespread fears about the prospect [...]
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Oil Revenues and Economic Development: The Case of Rajasthan, India
Published: 22nd August 2011| By: Paul Segal, Anupama Sen
In 2004 a large discovery of oil was made in Rajasthan, a relatively poor state in north-west India. Oil began to flow in 2009. The estimated total hydrocarbons resource base in Rajasthan is 6.5 billion barrels, and the fields are estimated to have the potential to reach output levels of over 200,000 barrels of oil [...]
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The Oil Trading Markets, 2003-2010: Analysis of market behaviour and possible policy responses
Published: 11th April 2011| By: Adair Turner, Jon Farrimond, Jonathan Hill
In this working paper, Adair Turner et al. consider price movements in the oil trading markets between 2003 and 2010, and provide an analysis of factors which potentially explain the significant trends in this period. The authors also discuss the impact of different forms of oil price volatility and propose the type that matters most [...]
Download the Publication 1.2MBCategories / Energy Economics, Energy Policy, Finance, Oil, Oil & Middle East Programme, Publications, Working Papers, Working Papers
The Strategic Implications of Russia’s Eastern Oil Resources
Published: 5th April 2011| By: James Henderson
Russian oil exports have historically been focused on western markets but the rapid growth of the Asia-Pacific economies over the past two decades has led to a re-focusing of Russia’s strategic and energy interests. The oil and gas resources of East Siberia and the Far East of Russia have long been known about and a [...]
Download the Publication 2.05MBCategories / Country and Regional Studies, Energy Economics, Energy Policy, Energy Security, Oil, Oil & Middle East Programme, Working Papers, Working Papers
The Transition to Hub-Based Gas Pricing in Continental Europe
Published: 31st March 2011| By: Jonathan Stern, Howard Rogers
This paper by Jonathan Stern and Howard Rogers argue that Continental European gas markets are moving inexorably from oil-linked to hub-based pricing. Market prices for gas increasingly reflect a complex combination of national regional and global supply and demand for gas rather than oil products. An increasingly competitive European gas market created by third party [...]
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An Anatomy of the Crude Oil Pricing System
Published: 14th February 2011| By: Bassam Fattouh
The main purpose of this report is to analyse the main features of the current crude oil pricing system; to describe the structure of the main benchmarks currently used namely Brent West Texas Intermediate (WTI) and Dubai-Oman; to clearly identify the various financial layers that have emerged around these physical benchmarks; to analyse the links [...]
Download the Publication 1.86MBCategories / Energy Economics, Finance, Oil, Oil & Middle East Programme, Publications, Working Papers, Working Papers