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Petroleum Economics and Policy
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Petroleum Economics and Policy

A special issue of Energies (ISSN 1996-1073). This special issue belongs to the section "C: Energy Economics and Policy".

Deadline for manuscript submissions: closed (28 February 2023) | Viewed by 15915

Special Issue Editors

Prof. Dr. Tatiana Ponomarenko

E-Mail Website
Guest Editor
Department of Economics, Organization and Management Saint-Petersburg Mining University, 21 line V.I., 2, 199106 Saint-Petersburg, Russia
Interests: Competitiveness and corporate sustainability of oil and gas and mining companies; state regulation in the extractive industry; public-private partnership and industrial policy in the energy sector
Dr. Marina Nevskaya

E-Mail Website
Guest Editor
Department of Economics, Organization and Management Saint-Petersburg Mining University, 21 line V.I., 2, 199106 Saint-Petersburg, Russia
Interests: mineral resources economics; environmental management; sustainable development

Special Issue Information

Dear Colleagues,

Oil remains one of the main energy resources in the global energy balance, representing about 30% of these resources. The oil factor has a significant impact on the socio-economic, innovative development of both exporting countries and oil consumers. At the same time, the problems of the "resource curse"; depletion of hydrocarbon resources; and the search for effective alternative energy sources (green energy) are changing the role of oil resources. Countries with resource-based economies are transforming value chains while the raw material value of oil resources is decreasing, which requires the use of various government regulatory instruments.

We invite you to partake in the scientific discussion in the form of a Special Issue of the  journal Energies entitled Petroleum Economics and Policy.

This Special Issue aims to bring together works that explain issues related to the impact of oil resources and the oil industry on economic processes and sustainable development at the corporate, national, and global levels, as well as issues related to the impact of government regulation, international norms, and corporate standards on the efficient and rational use of oil and other hydrocarbon resources, including the trends of "green energy", decarbonization, ESG factors, etc. This call for papers includes original research articles, comprehensive reviews, and well-documented case studies.

The following topics are addressed:

  • The impact of oil factor on the sustainable development of countries with resource-based economies.
  • The role of oil factor in the formation of government policy and economic security of countries.
  • Problems of petroleum resource depletion and depletion assessment.
  • Development of the national oil corporations and their impact on macroeconomic indicators.
  • Influence of oil factor on social policy and socio-economic development of countries.
  • Industrial policy in the formation and development of the oil and gas sector.
  • Innovation and investment policy in the oil sector.
  • Mechanisms of interaction between national innovation systems and the oil and gas sector.
  • Tax and budgetary policy in the oil sector.
  • Mechanisms for the development of infrastructure in the oil sector.
  • Other related topics (please ask the editors prior to submitting a paper on a different topic).

Prof. Dr. Tatiana Ponomarenko
Dr. Marina Nevskaya
Guest Editors

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Energies is an international peer-reviewed open access semimonthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 2600 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • oil resources
  • oil sector
  • oil factor
  • government policy
  • economic security
  • depletion of oil resources
  • industrial policy
  • tax, budgetary, investment, and innovation policies
  • sustainable development

Published Papers (4 papers)

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Research

22 pages, 2345 KiB  
Article
Analysis of the Interconnected Development Potential of the Oil, Gas and Transport Industries in the Russian Arctic
by Elena Katysheva
Energies 2023, 16(7), 3124; https://doi.org/10.3390/en16073124 - 29 Mar 2023
Cited by 22 | Viewed by 1908
Abstract
This article describes the hydrocarbon reserves in the oil and gas provinces of Russia’s Arctic territory, as well as specific features of the region’s raw hydrocarbon potential. It has been noted that the implementation of Arctic hydrocarbon-associated projects requires that a unified transport [...] Read more.
This article describes the hydrocarbon reserves in the oil and gas provinces of Russia’s Arctic territory, as well as specific features of the region’s raw hydrocarbon potential. It has been noted that the implementation of Arctic hydrocarbon-associated projects requires that a unified transport and logistics system be created, with the Northern Sea Route being the basis. The factors affecting the volume of cargo transportation along the Arctic routes are presented. It has been established that the hydrocarbon extraction and liquefied natural gas production in the Russian Arctic zone is the most important factor in the formation of cargo flows along the Northern Sea Route. The most significant oil and gas projects that comprise the bulk of freight traffic flow along the Arctic transportation corridors have been reviewed. The ports, as the main element of the Arctic transport system, are described in terms of their state and infrastructure. It has been indicated that the construction, modernization, and operation of the Arctic ports are closely related to the creation of long-distance railway corridors, and the construction of new railway lines leading to the Arctic Basin ports can serve as a reliable basis for the growth of the Northern Sea Route’s cargo potential. A conclusion has been drawn about the special significance of the Murmansk region for the formation of the Arctic transport system. Full article
(This article belongs to the Special Issue Petroleum Economics and Policy)
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20 pages, 1568 KiB  
Article
The Transmission Mechanisms and Impacts of Oil Price Fluctuations: Evidence from DSGE Model
by Bei Zhang, Xiaoqing Ai, Xingming Fang and Shi Chen
Energies 2022, 15(16), 6038; https://doi.org/10.3390/en15166038 - 20 Aug 2022
Cited by 7 | Viewed by 2610
Abstract
This paper constructs an open economy dynamic stochastic general equilibrium (DSGE) model with oil to investigate the transmission mechanism and impact effects of oil price fluctuations driven by different factors on China’s macroeconomy using quarterly data from 1996 to 2019. The results show [...] Read more.
This paper constructs an open economy dynamic stochastic general equilibrium (DSGE) model with oil to investigate the transmission mechanism and impact effects of oil price fluctuations driven by different factors on China’s macroeconomy using quarterly data from 1996 to 2019. The results show that the international crude oil supply-driven oil price decline promotes positive output growth in the short run through the positive cost effect of the supply channel, and the production regulation cost will dampen the incentive to invest in the new energy sector in the long run. Domestic economic development demand-driven oil price increases act on the demand channel, driving output and oil prices to fluctuate in the same direction, generating a negative real balance effect on the economy through the interest rate channel. The oil-specific demand driven by foreign nominal interest rate shocks is transmitted through the exchange rate channel, triggering imported inflation, lower aggregate demand, and lower output. Different sources of oil price fluctuations have different transmission mechanisms and thus differential effects. For this reason, based on the root causes of oil price fluctuations, policy recommendations to deal with international oil price fluctuations in the new situation are proposed at the supply level, demand level, and international level. Full article
(This article belongs to the Special Issue Petroleum Economics and Policy)
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22 pages, 4805 KiB  
Article
Economic Evaluation of Oil and Gas Projects: Justification of Engineering Solutions in the Implementation of Field Development Projects
by Tatiana Ponomarenko, Eugene Marin and Sergey Galevskiy
Energies 2022, 15(9), 3103; https://doi.org/10.3390/en15093103 - 24 Apr 2022
Cited by 16 | Viewed by 4853
Abstract
The condition of the oil and gas sector is characterized by the complication of geological settings, and there is more competition in energy markets due to the current trend towards decarbonization. These circumstances require oil and gas companies to become more flexible and [...] Read more.
The condition of the oil and gas sector is characterized by the complication of geological settings, and there is more competition in energy markets due to the current trend towards decarbonization. These circumstances require oil and gas companies to become more flexible and improve their project economic feasibility studies. The purpose of the research was to develop a methodological approach for the economic evaluation of oil and gas projects that includes choosing and substantiating the choice of engineering solutions that can be used to make decisions on subsequent investing. A comparative analysis of various economic evaluation methods applied to oil and gas projects included the DCF model, DPNV model with modifications, binary discounting, and reverse discounting. Taking into account the specific features of oil and gas projects, the authors provide a rationale for using a risk-free rate to calculate project outflows and a combination of reverse rates to calculate inflows. In addition, the theory of real options was applied to assess and account for geological and technical risks. These risks cause changes in the production rate when making engineering decisions. Using the proposed methodological approach, oil and gas companies will be able to evaluate in more detail and explain the influence of engineering solutions on the net present value of the project. This is the result of better consideration of geological and technical risks. The proposed approach is relevant both before project implementation and during production. Full article
(This article belongs to the Special Issue Petroleum Economics and Policy)
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31 pages, 2899 KiB  
Article
Economic Development of the Iraqi Gas Sector in Conjunction with the Oil Industry
by Tatyana Semenova and Ali Al-Dirawi
Energies 2022, 15(7), 2306; https://doi.org/10.3390/en15072306 - 22 Mar 2022
Cited by 18 | Viewed by 4768
Abstract
The relevance of this article is due, on the one hand, to the importance of the oil and gas industry in the development of Iraq and, on the other hand, the inability to enhance the existing capacities of the gas industry due to [...] Read more.
The relevance of this article is due, on the one hand, to the importance of the oil and gas industry in the development of Iraq and, on the other hand, the inability to enhance the existing capacities of the gas industry due to both serious systemic internal causes and external problems. The objective of this article is to study the prospects of the gas industry in conjunction with the oil industry, and develop a strategy for their development based on the forecasting of future scenarios. In the article, the research methods used included a systematic analysis of economic, social and cultural conditions, considering the history of Iraq, including a review of statistical data and a variety of sources. The article proposes a method for choosing the industry development strategy on the basis of an analytical hierarchy process, based on an algorithm of iterative processes using an analysis of hierarchies. To clarify the actors’ policies and strategic goals and to find the optimal solution, repeated iterations of the choice of strategy have been proposed. The strategies were divided into alternative strategies for future scenarios, which were evaluated in actions as able to achieve the goals by determining the consistency ratio and the consistency index. As a result of the study, we can highlight the analysis of the centralized system of oil and gas resources’ management that has developed in Iraq, which has a complicated “top-down” delegation of decisions and responsibility, with decisions made at the political level and resources distributed from above, which precludes individual industries from performing their functions, and also limits the effective implementation of strategic development priorities. The development factors for the gas industry in Iraq were identified and systematized with a rationale for the direction of the industry’s strategic development. Groups of factors were identified: market-affecting determinants of the development of the gas industry, as well as other considerations that may, to a lesser extent, affect the development of Iraq’s gas industry and the oil and gas complex as a whole. The results, assessing the significance of the actors’ goals, can be taken as a basis for development strategies for the oil and gas industry, to improve the contract system of the gas industry in conjunction with the oil industry. Full article
(This article belongs to the Special Issue Petroleum Economics and Policy)
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