Brazil oil auctions fall short of expectations

2019 ◽  
Keyword(s):  
Foreign Investor ◽  
Key Factors ◽  
Disappointing Result ◽  
Content Type ◽  
Oil Companies ◽  
Oil Reserves ◽  
The Government ◽  
Political Uncertainties ◽  
Dominant Operator

Subject Pre-salt oil auctions. Significance Two major oil auctions on November 6 and 7 frustrated the government’s expectations of achieving inflows of more than 110 billion reais (26.4 billion dollars). Major oil companies stayed away despite initial interest, and only three out of nine areas attracted bids. High prices, investments by state-controlled Petrobras in the areas and uncertainties about Brazil were key factors in the disappointing result. Impacts Petrobras will consolidate as the dominant operator of Brazil’s large oil reserves. Political uncertainties and high costs will continue to limit foreign investor enthusiasm. The government is likely to change the exploratory regime for future offshore auctions.

The next Omani sultan will face an economic crisis

2017 ◽  
Keyword(s):  
Financial Stability ◽  
Investment Fund ◽  
Foreign Reserves ◽  
Content Type ◽  
Oil Reserves ◽  
Structural Problems ◽  
Succession Process ◽  
The Government ◽  
Political Uncertainties ◽  
Economic Future

Significance The ratings agency said the change reflected the erosion of Oman’s foreign reserves in a context of low oil prices. Fears are rising over the country's longer-term economic future, as structural problems -- such as limited oil reserves and poor progress with diversification and fiscal reform -- intersect with political uncertainties over the succession process. Impacts Oman will seek new investments and loans from China -- a principal importer of Omani oil. Large deposits by neighbouring countries in Oman’s central bank could threaten financial stability if suddenly withdrawn. The external Oman Investment Fund may absorb the State General Reserve Fund, on which the government has drawn down heavily.

Investment apportionments among participants of PPP rental retirement villages

2019 ◽  
Vol 10 (1) ◽  
pp. 64-77
Author(s):  
Shijing Liu ◽  
Hongyu Jin ◽  
Chunlu Liu ◽  
Benzheng Xie ◽  
Anthony Mills
Keyword(s):  
Pension Funds ◽  
Return Rate ◽  
Key Factors ◽  
Content Type ◽  
Factors Affecting ◽  
Investment Allocation ◽  
Research Findings ◽  
The Government ◽  
Mean Variance

Purpose The purpose of this paper is to examine public–private partnership (PPP) approaches for the construction of rental retirement villages in Australia and to allocate the investment proportions under a certain project return rate among three investors which are the government, private sectors and pension funds. The apportionment will achieve a minimum overall investment risk for the project. Design/methodology/approach Capital structure, particularly determination of investment apportionment proportions, is one of the key factors affecting the success of PPP rental retirement villages. Markowitz mean-variance model was applied to examine the investment allocations with minimum project investment risks under a certain projected return rate among the PPP partners for the construction of rental retirement villages. Findings The research findings validate the feasibility of the inclusion of pension funds in the construction of PPP rental retirement villages and demonstrate the existence of relationships between the project return rate and the investment allocation proportions. Originality/value This paper provides a quantitative approach for determination of the investment proportions among PPP partners to enrich the theory of PPP in relation to the construction of rental retirement villages. This has implications for PPP partners and can help these stakeholders make vital contributions in developing intellectual wealth in the PPP investment area while providing them with a detailed guide to decision making and negotiation in relation to investment in PPP rental retirement villages.

Nigerian oil rebound vital for economic recovery

2017 ◽  
Keyword(s):  
Niger Delta ◽  
Agricultural Sector ◽  
Economic Recovery ◽  
Content Type ◽  
Oil Companies ◽  
China And India ◽  
Relative Safety ◽  
Oil Sector ◽  
The Government ◽  
State Interventions

Significance Despite such controversies, the government is pinning hopes for economic recovery on restoring hydrocarbons production alongside longstanding plans to reduce the country’s dependence on oil. While large international oil companies are retreating to the relative safety of the deep offshore, the government will look to new partnerships with China and India for large infrastructure projects. Impacts Employment gains in the oil sector will be marginal compared to increases in the agricultural sector. Recent state interventions against oil majors are unlikely to deter future investment. Counter-insurgency operations against Boko Haram could distract from government peace efforts in the Niger Delta.

Australia will seek foreign infrastructure money

2019 ◽  
Keyword(s):  
Population Growth ◽  
Foreign Investment ◽  
Foreign Investor ◽  
State Governments ◽  
Foreign Investors ◽  
Content Type ◽  
Competitive Disadvantage ◽  
The Government ◽  
Budget Surplus ◽  
Tax Cuts

Significance Tax cuts were announced earlier this month for foreign investment in infrastructure, including transport, energy, water and communication. The move follows concerns that spending on infrastructure is too low for Australia’s projected population growth. Impacts The stimulus does not involve any new spending and will require the support of state governments, which co-fund some projects. Tax concessions will help ease a competitive disadvantage faced by foreign investors, but there will still be market barriers. Uncertain confidence in the current government could depress foreign investor interest. If it maintains the budget surplus, the government will keep backbenchers’ support.

Ecuadorian government seeks to boost oil activity

2015 ◽  
Keyword(s):  
Primary Source ◽  
Oil Prices ◽  
World Market ◽  
Balance Of Payments ◽  
Oil Fields ◽  
Content Type ◽  
Oil Companies ◽  
Oil Sector ◽  
The Government ◽  
Total Oil

Subject The outlook for the oil sector. Significance While Ecuador is the smallest member of OPEC, oil is its largest export and the government's primary source of revenue. The collapse of world oil prices has forced the government to introduce import controls to support the balance of payments and cut public spending to reduce the budget deficit. However, rising levels of oil production have softened the blow of falling oil prices. The government hopes to continue this trend by attracting new investment into the oil sector, despite the downturn in the world market. Impacts The perilous state of the balance of payments and public finances will increase the need to attract new foreign investment into oil. Chinese oil companies are likely to increase their presence in Ecuador, reflecting trends elsewhere in Latin America. Development of the oil fields previously integrated into Yasuni/ITT should increase total oil output significantly from 2018-19.

President will keep Chadian opposition in check

2016 ◽  
Keyword(s):  
International Development ◽  
Budget Deficit ◽  
Border Region ◽  
Content Type ◽  
Lake Chad ◽  
The Public ◽  
Oil Companies ◽  
Low Level ◽  
The Government ◽  
Economic Outlook

Subject Chad's political and economic outlook. Significance President Idris Deby came to power in a 1990 military takeover and has now ruled the country for 27 years. In an election in April, Deby won a new five-year term as president. However, there is considerable resentment among opposition politicians and the public about his lengthening rule. In October, the government introduced new austerity measures, citing the need to reduce the budget deficit. This has provoked new strikes and protests. Impacts The government will maintain its combative approach to foreign oil companies. Low-level insecurity will persist in the Lake Chad border region. Chad will remain near the bottom of international development indices in 2017.

Low oil reserves pose challenges for Colombia

2020 ◽  
Keyword(s):  
Security Policies ◽  
Election Campaign ◽  
Physical Security ◽  
Content Type ◽  
Oil Companies ◽  
Oil Reserves ◽  
Security Challenges ◽  
The World ◽  
Limited Scale ◽  
Lower Carbon

Subject Colombian hydrocarbons. Significance Colombia’s oil production has plateaued at around 870,000 barrels per day (b/d), down from just over 1 million b/d in 2013. By regional standards, production is high relative to reserves. President Ivan Duque pledged to support the sector during his 2018 election campaign; efforts to sustain and increase production look set to characterise the remainder of his term. Impacts As the world moves towards a lower carbon future, Colombia may have to diversify its exports. Colombia’s high costs, limited scale and operating challenges could see it struggle to compete in a shriking market for investment. Duque’s security policies will do little to ease the physical security challenges facing oil companies operating in Colombia.

Iraqi Kurdistan could see oil and gas advances

2021 ◽  
Keyword(s):  
Oil And Gas ◽  
Oil Prices ◽  
Oil Production ◽  
Content Type ◽  
Oil Companies ◽  
Iraqi Kurdistan ◽  
Oil Sector ◽  
The Government ◽  
Slight Rise

Significance The oil sector managed a slight rise in oil production in 2020, despite the challenges of the pandemic and low oil prices. The KRG mostly managed to keep up payments to oil companies but did not assist Baghdad in making production cuts under the OPEC+ agreement. Impacts Combined new gas projects could meet domestic needs and potentially allow exports by the later 2020s. The government could resume payments of overdue amounts to international oil companies from this month. Talks with Baghdad will become more complex around planned elections in October 2021 and depending on legal developments with Turkey.

A critical examination of the role of public participation in petroleum development contract in Nigeria*

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Job Ohioma Odion
Keyword(s):  
Public Participation ◽  
Petroleum Industry ◽  
Secondary Data ◽  
Critical Examination ◽  
Content Type ◽  
Oil Companies ◽  
The Government ◽  
Petroleum Sector ◽  
Petroleum Development

Purpose The topic is examined with a view to ascertaining the various methods by which indigenous oil companies can participate in petroleum development contract in Nigeria. Also, the raison d’etre of the policy will be considered to see whether the government has achieved its primary aim and how successive government has approach the issue with a view to determining the best policy to adopt. The challenges facing this policy will be considered with a view to unfold whether the Petroleum Industry Bill proffers solution. Design/methodology/approach This methodology of research is doctrinaire and analytical. The author used the available statute and case law in extrapolation of the views expressed in this paper; where necessary, secondary data as sourced from existing literature was used. Findings This paper revealed that the existing laws in Nigeria do not support public participation in the petroleum sector. so much is in the hands of the government. The paper also found that this government's monopoly of the sector is one of the reasons for the slow level of development in the sector. Originality/value This paper is original to the extent that it focusses on a relatively new area of public participation in the upstream petroleum sector in Nigeria. Most papers have often focussed on the downstream sector; however, this study seeks to re-direct the debate to the upstream sector.

Environmental lawsuit will test Guyana's oil sector

2021 ◽  
Keyword(s):  
Spillover Effect ◽  
Economic Importance ◽  
Environmental Legislation ◽  
Economic Implications ◽  
Content Type ◽  
Oil Companies ◽  
Production Sharing ◽  
Oil Sector ◽  
The Government ◽  
Increased Pressure

Significance If successful, the lawsuit could force the government to cancel or suspend its oil production-sharing agreements (PSAs) with major international oil companies such as ExxonMobil. Given the growing economic importance of the oil sector, the outcome of the lawsuit will have major economic implications for Guyana. Impacts Some potential investors may be wary of committing to Guyana while the lawsuit remains unresolved. Other activists may be emboldened to launch further challenges on environmental grounds. Neighbouring Suriname may experience a spillover effect, with increased pressure to upgrade its environmental legislation.

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