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Author : Edward N. Krapels
Publisher :
ISBN 13 :
Total Pages : 82 pages
Book Rating : 4.F/5 ( download)
Download or read book Storage in the International Oil Market written by Edward N. Krapels and published by . This book was released on 1987 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Deren Unalmis
Publisher : International Monetary Fund
ISBN 13 : 1475586361
Total Pages : 41 pages
Book Rating : 4.4/5 (755 download)
Download or read book On the Sources and Consequences of Oil Price Shocks written by Deren Unalmis and published by International Monetary Fund. This book was released on 2012-11-08 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: Building on recent work on the role of speculation and inventories in oil markets, we embed a competitive oil storage model within a DSGE model of the U.S. economy. This enables us to formally analyze the impact of a (speculative) storage demand shock and to assess how the effects of various demand and supply shocks change in the presence of oil storage facility. We find that business-cycle driven oil demand shocks are the most important drivers of U.S. oil price fluctuations during 1982-2007. Disregarding the storage facility in the model causes a considerable upward bias in the estimated role of oil supply shocks in driving oil price fluctuations. Our results also confirm that a change in the composition of shocks helps explain the resilience of the macroeconomic environment to the oil price surge after 2003. Finally, speculative storage is shown to have a mitigating or amplifying role depending on the nature of the shock.
Author : United States. Congress. House. Committee on Energy and Commerce. Subcommittee on Oversight and Investigations
Publisher :
ISBN 13 :
Total Pages : 130 pages
Book Rating : 4.F/5 ( download)
Download or read book Petroleum Reserve Storage in New England written by United States. Congress. House. Committee on Energy and Commerce. Subcommittee on Oversight and Investigations and published by . This book was released on 1984 with total page 130 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Jeffrey C. Williams
Publisher : Cambridge University Press
ISBN 13 : 0521326168
Total Pages : 522 pages
Book Rating : 4.5/5 (213 download)
Download or read book Storage and Commodity Markets written by Jeffrey C. Williams and published by Cambridge University Press. This book was released on 1991-03-29 with total page 522 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book deals with the capability to store surplus commodities and the impact of stockpiles on prices and production.
Author : Petroleum Economics Limited
Publisher :
ISBN 13 :
Total Pages : 324 pages
Book Rating : 4.F/5 ( download)
Download or read book Technical Analysis of the International Oil Market written by Petroleum Economics Limited and published by . This book was released on 1978 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Energy Market Consultants (London)
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (847 download)
Download or read book Trends in Global Oil Storage written by Energy Market Consultants (London) and published by . This book was released on 1995 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : United States. Congress. House. Committee on Energy and Commerce. Subcommittee on Fossil and Synthetic Fuels
Publisher :
ISBN 13 :
Total Pages : 288 pages
Book Rating : 4.F/5 ( download)
Download or read book Strategic Petroleum Reserve written by United States. Congress. House. Committee on Energy and Commerce. Subcommittee on Fossil and Synthetic Fuels and published by . This book was released on 1983 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Morgan Downey
Publisher : WOODEN TABLE PressLLC
ISBN 13 : 9780982039205
Total Pages : 0 pages
Book Rating : 4.0/5 (392 download)
Download or read book Oil 101 written by Morgan Downey and published by WOODEN TABLE PressLLC. This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Since 1859, oil has enabled and defined our economic, social and political landscape. Throughout this time, abundant supply ensured low, stable prices and the inner workings of the oil industry remained relatively obscure. Following a century and a half of relative calm, oil prices have become much more volatile as the sustainability and growth of reliable supply sources have been brought into question. This book provides a guide to oil; from its history, to sources of supply and drivers of demand; from how prices are determined daily in global wholesale oil markets, to how those markets are connected to prices at the pump." -- Book jacket.
Author : Robert Clews
Publisher : Academic Press
ISBN 13 : 0128005297
Total Pages : 416 pages
Book Rating : 4.1/5 (28 download)
Download or read book Project Finance for the International Petroleum Industry written by Robert Clews and published by Academic Press. This book was released on 2016-04-07 with total page 416 pages. Available in PDF, EPUB and Kindle. Book excerpt: This overview of project finance for the oil and gas industry covers financial markets, sources and providers of finance, financial structures, and capital raising processes. About US$300 billion of project finance debt is raised annually across several capital intensive sectors—including oil and gas, energy, infrastructure, and mining—and the oil and gas industry represents around 30% of the global project finance market. With over 25 year’s project finance experience in international banking and industry, author Robert Clews explores project finance techniques and their effectiveness in the petroleum industry. He highlights the petroleum industry players, risks, economics, and commercial/legal arrangements. With petroleum industry projects representing amongst the largest industrial activities in the world, this book ties together concepts and tools through real examples and aims to ensure that project finance will continue to play a central role in bringing together investors and lenders to finance these ventures. Combines the theory and practice of raising long-term funding for capital intensive projects with insights about the appeal of project finance to the international oil and gas industry Includes case studies and examples covering projects in the Arctic, East Africa, Latin America, North America, and Australia Emphasizes the full downstream value chain of the industry instead of limiting itself to upstream and pipeline project financing Highlights petroleum industry players, risks, economics, and commercial and legal arrangements
Author : Robert Bamberger
Publisher : Nova Publishers
ISBN 13 : 9781594547867
Total Pages : 52 pages
Book Rating : 4.5/5 (478 download)
Download or read book Strategic Petroleum Reserve written by Robert Bamberger and published by Nova Publishers. This book was released on 2006 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: To help prevent a repetition of the economic dislocation caused by the 1973-74 Arab oil embargo, Congress authorised the Strategic Petroleum Reserve (SPR) in the Energy Policy and Conservation Act (EPCA, P.L. 94-163). Physically, the SPR comprises five underground storage facilities, hollowed out from naturally occurring salt domes, located in Texas and Louisiana. Oil stored at one of the sites, Weeks Island, was transferred after problems with the structural integrity of the cavern were discovered in the mid-1990s. Hurricane Katrina made landfall early in the morning of August 29, 2005 inflicting severe damage and shutting down oil and gas production and refining activities in the Gulf of Mexico. Damage assessments continue. By September 2, three requests for loans totalling 8.5 million barrels had been approved; a few others are pending. The Administration also announced it was making 30 million barrels available. However, as a policy tool to respond to the crisis, the SPR has limitations because a barrel of crude contributes to product supply only if there is refining capacity to turn the crude into gasoline or diesel fuel. Consequently, recovery from the hurricane's effects will depend upon resumption of production and refining operations in the Gulf, and the ability to transport petroleum products. On August 8, 2005, the President signed the Energy Policy Act of 2005 (H.R. 6). The bill as enacted permanently authorises the SPR and requires, "as expeditiously as practicable," expansion of the SPR to its authorised maximum of 1 billion barrels. The Secretary is required to develop procedures for achieving the fill objective without "incurring excessive cost," or placing upward pressure on prices. Any fill policy is also to take into consideration minimising income foregone to the Treasury by filling the SPR with additional royalty-in-kind (RIK) oil.
Author : Samya Beidas-Strom
Publisher : International Monetary Fund
ISBN 13 : 1498333486
Total Pages : 34 pages
Book Rating : 4.4/5 (983 download)
Download or read book Oil Price Volatility and the Role of Speculation written by Samya Beidas-Strom and published by International Monetary Fund. This book was released on 2014-12-12 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: How much does speculation contribute to oil price volatility? We revisit this contentious question by estimating a sign-restricted structural vector autoregression (SVAR). First, using a simple storage model, we show that revisions to expectations regarding oil market fundamentals and the effect of mispricing in oil derivative markets can be observationally equivalent in a SVAR model of the world oil market à la Kilian and Murphy (2013), since both imply a positive co-movement of oil prices and inventories. Second, we impose additional restrictions on the set of admissible models embodying the assumption that the impact from noise trading shocks in oil derivative markets is temporary. Our additional restrictions effectively put a bound on the contribution of speculation to short-term oil price volatility (lying between 3 and 22 percent). This estimated short-run impact is smaller than that of flow demand shocks but possibly larger than that of flow supply shocks.
Author : National Petroleum Council. Committee on Underground Storage for Petroleum
Publisher :
ISBN 13 :
Total Pages : 94 pages
Book Rating : 4.3/5 ( download)
Download or read book Underground Storage for Petroleum written by National Petroleum Council. Committee on Underground Storage for Petroleum and published by . This book was released on 1957 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Dannreuther, Roland
Publisher : Edward Elgar Publishing
ISBN 13 : 1839107553
Total Pages : 489 pages
Book Rating : 4.8/5 (391 download)
Download or read book Handbook on Oil and International Relations written by Dannreuther, Roland and published by Edward Elgar Publishing. This book was released on 2022-08-16 with total page 489 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Handbook provides an in-depth analysis of the multiple ways in which oil has shaped, changed and affected international relations and global politics. Theoretically innovative, it provides new insights into the interaction between the materiality of oil and its social, economic and political manifestations.
Author : United States. Congress. House. Committee on Banking and Currency. Ad Hoc Committee on the Domestic and International Monetary Effect of Energy and Other Natural Resource Pricing
Publisher :
ISBN 13 :
Total Pages : 236 pages
Book Rating : 4.3/5 (121 download)
Download or read book Oil Imports and Energy Security written by United States. Congress. House. Committee on Banking and Currency. Ad Hoc Committee on the Domestic and International Monetary Effect of Energy and Other Natural Resource Pricing and published by . This book was released on 1974 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :
Publisher :
ISBN 13 :
Total Pages : 28 pages
Book Rating : 4.:/5 (6 download)
Download or read book International Energy Agency written by and published by . This book was released on 1999 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Donald F. Larson
Publisher :
ISBN 13 :
Total Pages : 28 pages
Book Rating : 4.:/5 (129 download)
Download or read book Uncertainty and the Price for Crude Oil Reserves written by Donald F. Larson and published by . This book was released on 2016 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: Returns to storage for crude oil reserves contain both a cost-reducing component (consistent with Kaldor's original notion of convenience) and often sizable premiums associated with the dispersion of petroleum prices.Innovations in futures, options, and derivative instruments permit active trading, speculating, and hedging - linking markets for physical petroleum products with financial markets. These derivative markets continuously value petroleum delivered today and for future dates, thus providing a market price for inventories. Underground petroleum reserves are also an inventory defined by exploration surveys and development drilling. As a result, observable market information can be used to value these reserves.Option-valuation models can be used to price reserves using observable markets, but are dependent on unexplained convenience yields revealed by the term structure of futures prices. Considine and Larson apply a general model of inventory pricing to petroleum inventories and generate an empirical model of the returns to storage for petroleum markets. They examine the determinants of the convenience yield for crude oil using a stochastic control model.They specify optimal production and inventory conditions using a third-order cost function and estimate them using monthly observations. Their inventory arbitrage condition embodies the Hotelling principle and Kaldor's convenience yield, and includes a premium on the dispersion in crude oil prices.The empirical results suggest that returns to storage contain both a cost-reducing component (consistent with Kaldor's original notion of convenience) and often sizable premiums associated with the dispersion of petroleum prices. Their findings suggest that crude oil markets differentiated by quality and location provide similar premiums.The premiums associated with the dispersion of petroleum prices may account for persistent backwardation in crude oil prices. This finding may also explain the wide discrepancies between Hotelling values and transaction prices found in previous studies.This paper - a product of the Commodity Policy and Analysis Unit, International Economics Department - is part of a larger effort in the department to further the understanding of resource pricing and commodity markets. The study was funded by the Bank's Research Support Budget under the research project Uncertainty and the Price of Crude Oil Reserves (RPO 679-23).
Author : Donald Larson
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (12 download)
Download or read book Uncertainty and the Price for Crude Oil Reserves written by Donald Larson and published by . This book was released on 1999 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: September 1996 Returns to storage for crude oil reserves contain both a cost-reducing component (consistent with Kaldor's original notion of convenience) and often sizable premiums associated with the dispersion of petroleum prices. Innovations in futures, options, and derivative instruments permit active trading, speculating, and hedging - linking markets for physical petroleum products with financial markets. These derivative markets continuously value petroleum delivered today and for future dates, thus providing a market price for inventories. Underground petroleum reserves are also an inventory defined by exploration surveys and development drilling. As a result, observable market information can be used to value these reserves. Option-valuation models can be used to price reserves using observable markets, but are dependent on unexplained convenience yields revealed by the term structure of futures prices. Considine and Larson apply a general model of inventory pricing to petroleum inventories and generate an empirical model of the returns to storage for petroleum markets. They examine the determinants of the convenience yield for crude oil using a stochastic control model. They specify optimal production and inventory conditions using a third-order cost function and estimate them using monthly observations. Their inventory arbitrage condition embodies the Hotelling principle and Kaldor's convenience yield, and includes a premium on the dispersion in crude oil prices. The empirical results suggest that returns to storage contain both a cost-reducing component (consistent with Kaldor's original notion of convenience) and often sizable premiums associated with the dispersion of petroleum prices. Their findings suggest that crude oil markets differentiated by quality and location provide similar premiums. The premiums associated with the dispersion of petroleum prices may account for persistent backwardation in crude oil prices. This finding may also explain the wide discrepancies between Hotelling values and transaction prices found in previous studies. This paper - a product of the Commodity Policy and Analysis Unit, International Economics Department - is part of a larger effort in the department to further the understanding of resource pricing and commodity markets. The study was funded by the Bank's Research Support Budget under the research project Uncertainty and the Price of Crude Oil Reserves (RPO 679-23).
