East Africa has followed a long road of highs and lows in developing its oil resources. On the back of high global oil prices between 2004 and 2014, a rush of new exploration put the region on the map as a new frontier for African oil. But it did not take long for the momentum […]
In 2012, Kenya became the latest East African country to enter the oil and gas scene. The discovery of oil resources in the Turkana County provided an extra boost to Kenya’s already growing and diverse economy. But significant political, social, and security challenges remain. This paper analyses the opportunities and risks facing Kenya’s oil industry […]
This comment considers German energy policy, as set out in the Energiewende, as seen from the perspective of attempts to reduce CO2 emissions, and the ambitions of the EU to be considered global leaders on this issue. It argues that the nuclear moratorium is irrational and will significantly increase damaging emissions; and that policies of […]
The consultation process on nuclear power in the UK has ended and the Government is considering the way forward. This Comment, by Malcolm Keay, explores the difficult dilemma the Government is facing. On the one hand, nuclear power looks necessary for energy security and to meet climate change targets. On the other hand, nuclear does […]
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.
Production-Sharing Agreements (PSAs) are among the most common types of contractual arrangements for petroleum exploration and development. Under a PSA the state as the owner of mineral resources engages a foreign oil company (FOC) as a contractor to provide technical and financial services for exploration and development operations. The state is traditionally represented by the […]
In the UK petrol retailing industry, oil companies have a variety of contracts from which to choose when structuring the organization of their retail networks. Such contracts range from exclusive supply agreements with independent dealers, to various forms of agreement for the operation of companyowned sites: tenancies, licences, commission agencies, direct management by company employees; […]
Over the past decade or so, a good deal of the conceptual work on exhaustible resources has directed some attention to the problem of uncertainty. As Notelling (1931) illustrated early on, even the simplest problems of exhaustible resource management are inherently dynamic. It is thus hardly surprising that an uncertain future should be a pressing […]