Business/economics
As the global energy transition reshapes investment priorities, petroleum financing is becoming more selective, rewarding oil-producing countries that offer strong project economics, policy stability, and lower investment risk.
This article analyzes Nigeria’s deepwater fiscal framework by examining its legal foundations, the practical operation of production-sharing contracts, and the allocation of financial risk between the government and international oil companies.
The third and final part of the series covers the facility engineering and petroleum economics aspects of a field development plan.
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The oil and gas industry has always been a competitive arena, in which handling risks effectively has now become critical for business efficiency. The effect of risks on project costs should be carefully quantified in order to implement efficient measures to mitigate these risks. -
Working as an environmental and social performance leader in the extractive industry presents challenges in many areas. Among them is the integration of economic, environmental, and social considerations into business decision making for sustainable development.
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Richard Sykes, Executive Secretary of the International Petroleum Industry Environmental Conservation Association, weighs in on sustainability and social responsibility.
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Results of a survey of young professionals on oil and gas industry sustainability and social responsibility.
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Comments from TWA Editor Tony Thomas about sustainable companies and the content of the current issue.
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Charles Osborne of BP diseases the role that real options can play in managing risk.
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Comments from TWA Editor Tony Thomas on coupling best practices from the past with innovations for the future.
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Oil trading is a broad term, incorporating the exchange of physical oil cargoes and trading of paper instruments, which does not necessarily result in physical delivery of oil. It is a complex mechanism composed of several markets—spot, over-the-counter, and futures markets.
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Historically robust demand and hydrocarbon prices in the past have conditioned the industry to regard operating expenditure (opex) as a minor element compared with capital expenditure (capex). There are important lessons about opex that can be learned from our downstream cousins.
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University of Houston professor Michael Economides weighs in on the debate over peak oil.
