Comparing petroleum fiscal regimes under oil price uncertainty

2006 ◽  
Vol 31 (2) ◽  
pp. 95-105 ◽  
Author(s):  
Andon J. Blake ◽  
Mark C. Roberts
Keyword(s):  
Oil Price ◽  
Price Uncertainty ◽  
Fiscal Regimes

scholarly journals Oil Price Uncertainty, Globalization, and Total Factor Productivity: Evidence from the European Union

Energies ◽  
2021 ◽  
Vol 14 (12) ◽  
pp. 3429
Author(s):  
Svetlana Balashova ◽  
Apostolos Serletis
Keyword(s):  
European Union ◽  
Total Factor Productivity ◽  
New Technologies ◽  
Innovation System ◽  
Price Volatility ◽  
Oil Price ◽  
Price Uncertainty ◽  
The European Union ◽  
Factor Productivity ◽  
Tfp Growth

This paper uncovers linkages between oil price uncertainty, total factor productivity (TFP) growth, and critical indicators of knowledge production and spillovers. It contributes to the literature by investigating the effects of oil price volatility on TFP growth, controlling for two different channels for TFP growth; benefits from the quality of the national innovation system and from adopting new technologies. We use an unbalanced panel for 28 European Union countries for the period from 1990 to 2018. We find that oil price uncertainty has a negative and statistically significant effect on TFP growth, even after we control for technological advancements and the effects of globalization. We also find that the scale of research and innovation and international trade are positive contributors to TFP growth.

scholarly journals Economic Evaluation of Fiscal Regime on EOR Implementation in Indonesia: A Case Study of Low Salinity Water Injection on Field X

2020 ◽  
Vol 9 (1) ◽  
pp. 17-35
Author(s):  
Adityawarman Adityawarman ◽  
Faridh Afdhal Aziz ◽  
Prasandi Abdul Aziz ◽  
Purnomo Yusgiantoro ◽  
Steven Chandra
Keyword(s):  
Sensitivity Analysis ◽  
Net Present Value ◽  
Water Injection ◽  
Oil Production ◽  
Oil Price ◽  
Low Salinity ◽  
Low Salinity Water ◽  
Fiscal Regimes ◽  
Salinity Water ◽  
Low Salinity Water Injection

There are currently two fiscal regimes designated for resource allocation in Indonesia’s upstream oil and gas industry, the Production Sharing Contract Cost Recovery (PSC) and Gross Split. The Gross Split in the form of additional percentage split is designed to encourage contractors to implement Enhanced Oil Recovery (EOR) in mature fields. Low Salinity Water Injection (LSWI) is an emerging EOR technique in which the salinity of the injected water is controlled. It has been proven to be relatively cheaper and has simpler implementations than other EOR options in several countries. This study evaluates the LSWI project’s economy using PSC and Gross Split and then to be compared to conventional waterflooding (WF) project’s economy. There are four cases on Field X that are simulated using a commercial simulator for 5 years. The cases are evaluated under PSC and Gross Split to calculate the project’s economy. The economic indicators that will be evaluated are the Net Present Value (NPV) and sensitivity analysis is also conducted to observe the change of NPV. The parameters for sensitivity analysis are Capital Expenditure (CAPEX), Operating Expenditure (OPEX), Oil Production, and Oil Price. It is found that LSWI implementation using Gross Split is more profitable than PSC. The parameters that affects NPV the most in all PSC cases are the oil production and oil price. On the other hand, in Gross Split cases, the oil production is the parameter that affects NPV the most, followed by oil price. The novelty of this study is in the comparison of project’s economy between WF and LSWI using two different fiscal regimes to see whether Gross Split is more profitable than PSC on EOR implementation, specifically the LSWI at Field X.

Financial stress, economic policy uncertainty, and oil price uncertainty

2021 ◽  
pp. 105686
Author(s):  
George N. Apostolakis ◽  
Christos Floros ◽  
Konstantinos Gkillas ◽  
Mark Wohar
Keyword(s):  
Economic Policy ◽  
Financial Stress ◽  
Oil Price ◽  
Policy Uncertainty ◽  
Price Uncertainty ◽  
Economic Policy Uncertainty

Oil price uncertainty and equity returns

2016 ◽  
Vol 8 (1) ◽  
pp. 64-79 ◽  
Author(s):  
Aktham Maghyereh ◽  
Basel Awartani
Keyword(s):  
Stock Returns ◽  
Oil Production ◽  
Equity Returns ◽  
Oil Price ◽  
Policy Implications ◽  
Price Uncertainty ◽  
Mena Region ◽  
Stock Market Returns ◽  
Content Type ◽  
The Impact

Purpose This paper aims to examine the impact of oil price uncertainty on the stock market returns of ten oil importing and exporting countries in the Middle East and North Africa (MENA) region. The sample contains both oil importing and oil exporting countries that depend heavily on oil production and exports. Design/methodology/approach This paper intuitively applies the generalized autoregressive conditional heteroskedasticity (GARCH)-in-mean vector autoregression (VAR) model using weekly data over the period January 2001-February 2014. Findings The findings indicate that oil uncertainty matters in the determination of real stock returns. There is a negative and significant relationship between oil price uncertainty and real stock returns in all countries in the sample. The influence of oil price risk is more serious in those economies that depend heavily on oil revenues to grow. Practical implications The findings have important implications. For instance, managers should be aware of the linkages between oil price uncertainty and equity returns when they use oil to hedge and diversify equities, particularly in economies where oil is important for economic growth. The policymakers in oil importing countries should encourage companies to improve efficiency in the usage of energy and to resort to alternative sources to avoid fluctuations in earnings and equity prices. In the countries that heavily depend on oil efforts should focus on diversifying the domestic economy away from oil to protect against oil price fluctuations. Originality/value To the best of our knowledge, this is the first attempt to study the influence of oil price uncertainty in the MENA region. The sample contains both oil importing and oil exporting countries that depend heavily on oil production and exports. The empirical findings of the paper have valuable policy implications for investors, market participants and policymakers.

Sign in / Sign up

Export Citation Format

Share Document