Robert Arnott

Research Associate

Robert Arnott is currently Chairman of Hurricane Energy plc and IOT AS. of. He has previously held board-level positions at various E&P companies, most recently with Rocksource ASA, Core Energy AS, and Spring Energy AS. He worked as a senior fellow at the OIES from 2001 to 2005, focusing on all aspects of mature oil and gas provinces, as well as the corporate strategies of the major upstream energy companies. He has a strong background in all aspects of exploration and production and is recognized for his research into the oil and gas industry. After working as a geologist and economist with Royal Dutch Shell, he began working in the City of London in 1991, holding senior positions as an oil and gas equity analyst at Goldman Sachs and Morgan Stanley for 10 years.

Contact

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                    [post_content] => In a recent debate on oil depletion at the Energy Institute, Rob Arnott argued that robust demand was driving current strong oil prices not peak oil. His presentation focused on the ways in which oil is brought to the market and he showed that recent policies and strategies had led to a period of underinvestment in the oil sector which is only now being corrected. 
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                    [post_content] => The Shell Group has had to learn some salutary lessons in recent months. Robert Arnott reviews the recently published Audit Report and highlights the clash between corporate culture and governance.
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                    [post_content] => The debate surrounding oil and gas reserves estimates has been addressed by two new briefing papers jointly issued by the Oxford Institute for Energy Studies and the Sustainable Development Programme at Chatham House.  The papers, Petroleum Reserves in Question by John Mitchell and Oil and Gas Reserves: Communication with the Financial Sector by Rob Arnott, argue that a consistent framework for generating oil and gas oil reserves should be implemented to allow for better estimation, increased accuracy and therefore improved production and income potential.
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                    [post_content] => The booking of oil and gas reserves is an inexact science. First, many technical variables need to be taken into account to establish the volume. Then, economic parameters are superimposed on this volume in order to calculate the ‘proved’ reserves that can be produced at current prices. This volume is then reported in the year end financial statements and is widely accepted as gospel truth. So much so that, of all of the factors that drive share price movements, changes in the volume of ‘proved’ reserves have the most influence. It is therefore no surprise that, when Royal Dutch recently decided to ‘recategorise’ 20 per cent of its proven reserves base, the equity market reaction was so negative.
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Latest Publications by Robert Arnott

Latest Tweets from @OxfordEnergy

  • An OIES study quoted in a new article on Southern Gas Corridor’s contribution to EU energy security https://t.co/FRmW3dIcMf

    February 25th

  • GCC continues to invest in new capacity despite low oil prices while Iraq suffering from cuts, an OIES presentation https://t.co/mnZ2otLglu

    February 24th

  • Malcolm Keay cited in The Economist: The utility business model is broken, and markets are, too https://t.co/DeeWroJXGj

    February 23rd

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