scholarly journals An economic analysis of Iranian petroleum contract

2020 ◽  
Vol 17 (5) ◽  
pp. 1451-1461 ◽  
Author(s):  
Fazel M. Farimani ◽  
Xiaoyi Mu ◽  
Hamed Sahebhonar ◽  
Ali Taherifard
Keyword(s):  
Sensitivity Analysis ◽  
Economic Analysis ◽  
Crude Oil ◽  
Technical Information ◽  
Oil Price ◽  
Economic Rent ◽  
Crude Oil Price ◽  
New Model ◽  
Production Sharing ◽  
The Government

Abstract Following three generations of buyback contracts, the new model of Iranian petroleum contracts (IPC) was introduced by the Iranian cabinet to incentivize investments in the country. This paper analyzes the fiscal terms of the contract with technical information from one of the candidate fields for licensing. The financial simulation shows that, in general, the IPC resembles more a service contract than a production sharing contract as the contractor’s take is relatively low—below 5% across different scenarios of crude oil price. Second, the IPC is progressive in that as the overall profitability of the project improves the government takes an increasing share of the economic rent. The results are confirmed in a sensitivity analysis of each party’s profitability and takes on oil price, CAPEX, OPEX and the fee.

scholarly journals A Co-integration Approach to the Determinants of Inflation in Nigeria

2021 ◽  
Vol 4 (3) ◽  
pp. 50-60
Author(s):  
Ugwulali I.J. ◽  
Adejuwon J.A. ◽  
Ojomolade D.J. ◽  
Ogwulali J.I.
Keyword(s):  
Exchange Rate ◽  
Crude Oil ◽  
Money Supply ◽  
Government Expenditure ◽  
Oil Price ◽  
Crude Oil Price ◽  
Macroeconomic Factors ◽  
Integration Approach ◽  
Long Run ◽  
The Government

This study was a co-integration approach to the determinants of inflation in Nigeria. The study became necessary as a result of the rampaging effect of the increasing rate of inflation in the country particularly immediately after the fiscal crises between 1980 and 1984. The study used secondary data collected from the Central Bank of Nigeria (CBN) statistical bulletin (2012-2018). This was analysed using auto-regressive distributed lag. The findings showed that real and lagged government expenditure, exchange rate, money supply and crude oil price are the main macroeconomic factors responsible for inflation in Nigeria. Whilst exchange rate depreciation helps to reduce the level of inflation, decreases in crude oil prices increase the level of inflation. Also, growth in real government expenditure and money supply exert pressure on price levels to move up. The long run co-integration and bounds results show that there is a long run relationship between inflation and government expenditure. The lagged explanatory variables are significant at 5% level of significance, except crude oil price. It was concluded that inflation in Nigeria is multi-dimensional and dynamic. It was therefore recommended that the government should implement policies that enhance increased production of goods and services leading to reduction in the general prices level and diversify the economic base to control the effect of inflation in Nigeria.

Impact of crude oil price on the socio-political environment of global countries

2019 ◽  
Vol 118 (3) ◽  
pp. 110-122
Author(s):  
Johnson Clement Madathil ◽  
Velmurugan P. S
Keyword(s):  
Crude Oil ◽  
Descriptive Analysis ◽  
Oil Price ◽  
Policy Framework ◽  
Political Environment ◽  
Policy Reforms ◽  
Crude Oil Price ◽  
Short Term ◽  
Political Impact ◽  
New Energy

Crude oil is known to have an impact on people’s life of both producers and consumers of crude oil countries. A producer country’s socio-political impact will be different from a consumer country’s socio-political impact. This paper aims to show that crude oil price has a socio-political impact on global countries through descriptive analysis. The study found that there were similarities in the movement of crude oil price and change in GDP of both India and United States and further Russia and Venezuela have had crude oil impact on their respective GDP’s, which has made them take policy reforms. The paper identifies changes in the policy framework due to influence of crude oil price and eventual changes in existing socio-political environment. Taking oil producing countries such as Russia and Venezuela as examples, this paper suggests that policy reforms are the key to having a stable socio-political environment. Russia shows us that having a flexible monetary policy can keep the budget dependence on crude oil reduced in the short term. On the other hand, for oil consuming countries, having a stable supply and moving to new energy sources is the key to tackle the influence of crude oil price on the socio-political environment of global countries.

Crude Oil Price Dynamics With Crash Risk Under Fundamental Shocks

2020 ◽  
Author(s):  
Cho-Hoi Hui ◽  
Chi-Fai Lo ◽  
Chi-Hin Cheung ◽  
Andrew Wong
Keyword(s):  
Crude Oil ◽  
Oil Price ◽  
Crash Risk ◽  
Price Dynamics ◽  
Crude Oil Price

scholarly journals H-Infnitiy for world crude oil price estimation

2020 ◽  
Vol 1563 ◽  
pp. 012016
Author(s):  
M Y Anshori ◽  
T Herlambang ◽  
D F Karya ◽  
D Rahmalia ◽  
P A Inawati
Keyword(s):  
Crude Oil ◽  
Oil Price ◽  
Crude Oil Price ◽  
Price Estimation
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