The Value and Distribution of the Benefits of North Sea Oil and Gas, 1970—1985

1977 ◽  
Vol 82 ◽  
pp. 41-58 ◽  
Author(s):  
S. A. B. Page
Keyword(s):  
Exchange Rate ◽  
North Sea ◽  
Oil And Gas ◽  
Balance Of Payments ◽  
Absolute Size ◽  
Industrial Countries ◽  
The North ◽  
The United Kingdom ◽  
The Exchange Rate ◽  
The Government

Oil and gas from the North Sea will make the United Kingdom a net exporter of energy in the 1980s and supply a substantial portion of its needs through the 1990s. In value terms, the benefits are principally to the balance of payments and government revenue. The former is improved slightly relative to the pre-oil price rise position, but significantly compared with either the present balance or that of other industrial countries. The absolute size of these benefits and the share of the government in the total are extremely sensitive to the assumptions made about changes in the exchange rate, including those which result from the improvement in the balance of payments. Many decisions about the distribution of the benefits are already being taken, for example in policies for the energy sector and the exchange rate. It is therefore too late to plan to allocate all the benefits to a single purpose, and it may be undesirable to do so.

25 years of UK North Sea exploration

1991 ◽  
Vol 14 (1) ◽  
pp. 1-7 ◽  
Author(s):  
J. M. Bowen
Keyword(s):  
United Kingdom ◽  
North Sea ◽  
Oil And Gas ◽  
The North ◽  
The United Kingdom ◽  
East Midlands ◽  
Daunting Task ◽  
Shallow Wells ◽  
The Uk ◽  
Gas Fields

Any attempt to summarize 25 years of exploration for petroleum in the UK sector of the North Sea must be a daunting task. The outcome, in terms of the oil and gas fields discovered, is the subject of this volume. This introduction will attempt to outline, very briefly, some of the ups and downs of the exploration history which has led the industry to where it stands today, 25 years on (Fig. 1).When the author was at university in the early 1950s the very idea the the United Kingdom would be likely to become a significant, let alone major world producer of petroleum would have been viewed as utterly ridiculousIt is true that oil and gas indications had been encountered in wells and mines in such disparate areas as sussex, the west Midlands and the Midland Valley of Scotland and as seepages in Dorset, Lancashire and West Lothian, but these had been thoroughly investigated without the discovery of any economically significant oil or gas fields. Indeed, the only economic production at that time came from BP's small east Midlands fields based on Eakring where the first discovery had been made in 1939The first Serious attempt to explore for oil in the United Kingdom was initiated in 1918 for strategic reasons, when 11 relatively shallow wells were drilled on anticlinal features in various parts of the country. of these only one, Hardstoft-1 in Derbyshire, discovered producible oil, but attempts to follow up the discovery were unsuccessful.Exploration then

A survey of inputs to the North Sea resulting from oil and gas developments

1987 ◽  
Vol 316 (1181) ◽  
pp. 495-509 ◽  
Keyword(s):  
United Kingdom ◽  
North Sea ◽  
Coastal Waters ◽  
Petroleum Hydrocarbons ◽  
Oil And Gas ◽  
The North ◽  
The United Kingdom ◽  
The North Sea ◽  
Offshore Oil And Gas ◽  
Offshore Oil

The annual input of petroleum hydrocarbons to the North Sea has recently been estimated to be between 100 and 170 kt and is derived from a variety of sources. Although there is uncertainty about the size of inputs from some sources, there is general agreement that the atmosphere, rivers and land run-off (including coastal sewage), and coastal oil industry activities combined with shipping, remain sources of major inputs. However, the size of annual inputs from the offshore oil and gas exploration and exploitation activities has recently increased to about 20 kt and these activities now form one of the major sources of petroleum hydrocarbons to the North Sea. This increase is almost entirely due to the use of oil-based drill-muds and the consequent discharge of drill cuttings contaminated with residual mud. At present, experience in the United Kingdom has shown that this input of fresh, unweathered oil rapidly enters otherwise uncontaminated offshore sediments, producing strictly local effects around the point-source discharges. The nature and composition of this input differs from the majority of the inputs to coastal waters and sediments, and from the diffuse atmospheric input to offshore waters. Of the 140 kt of materials other than oil discharged annually to the North Sea from oil and gas developments in the United Kingdom, 98-99% arise from drilling operations, but the vast majority of inputs from this source are biologically inert or derivatives of natural products. Surveys indicate that, of the remaining materials, less than 50 t of the more toxic products (i.e. those with a 96 h LC 50 to Crangon crangon of less than 1 part/10 6 ) are discharged into United Kingdom waters annually. The largely uncontaminated offshore North Sea waters and sediments remain little affected by offshore oil and gas developments, but if these activities enter already contaminated estuarine and coastal waters, the contamination and effects from this source will be harder to distinguish.

List of Publications Recording the Results of Researches carried out under the Auspices of the Marine Biological Association of the United Kingdom in their Laboratory at Plymouth or on the North Sea Coast from 1886–1900

1900 ◽  
Vol 6 (1) ◽  
pp. 115-135
Keyword(s):  
United Kingdom ◽  
North Sea ◽  
Biological Association ◽  
The North ◽  
Marine Biological Association ◽  
The United Kingdom ◽  
The North Sea ◽  
Different Parts ◽  
Sea Coast ◽  
North Sea Coast

The following list has been classified, so far as practicable, according to subjects, in order that it may be useful for purposes of reference. The list does not include publications recording the results of observations made on material supplied by the Association to workers in different parts of the country, of which a considerable amount is sent out each year.

scholarly journals Measuring the relationship between the balance of payments and the exchange rate - A case study of a group of Arab countries during the period 2000/2016-

2018 ◽  
Vol 2 (2) ◽  
pp. 44-66
Author(s):  
Abd Elouahid SERARMA ◽  
Newfel BAALOUL
Keyword(s):  
Exchange Rate ◽  
Empirical Studies ◽  
Arab Countries ◽  
Balance Of Payments ◽  
Rate System ◽  
Exchange Rate System ◽  
Independent Variable ◽  
The Exchange Rate ◽  
The Relationship

The Objective of this study is to examine the effect of exchange rate system on the balance of payments, with a case study of a group of Arab countries. First we shed light on the most important theoretical and empirical studies of exchange rate systems and their macroeconomics effects in one hand. In the other hand we study a case of six oil exporting Arab countries. To achieve this purpose we adopted a panel data and run an econometric model to examine the relationships between the variables during the period 2000 to 2016. The study concluded that there is a significant positive correlation between the exchange rate as an independent variable and the balance of payments as a dependent variable, and there is no deference in the effects of the exchange system in the study of six Arab economies.

scholarly journals Remittances and exchange rate - Empirical evidence from emerging economies

2016 ◽  
Vol 19 (1) ◽  
pp. 39-51
Author(s):  
Canh Phuc Nguyen
Keyword(s):  
Exchange Rate ◽  
Panel Data ◽  
Emerging Markets ◽  
Interest Rates ◽  
Emerging Economies ◽  
Global Financial Crisis ◽  
Balance Of Payments ◽  
The Exchange Rate ◽  
Remittance Flows ◽  
Macroeconomic Risks

The exchange rate plays an important role to trade, investment and macroeconomic risks of open economies. There are many factors that affect the exchange rate such as inflation, interest rates, balance of payments where remittance flows receive more and more attention of economists due to their increase in their values, particularly in emerging economies. This study uses data from 21 countries which are classified as emerging markets in the period between 2001 and 2013 to investigate the impacts of remittances on exchange rate. Through panel data estimations, we found that remittances increase the value of the local currencies, which is not altered by the 2008 global financial crisis.

Summary and Appraisal

1989 ◽  
Vol 130 ◽  
pp. 3-6
Keyword(s):  
Economic Policy ◽  
Exchange Rate ◽  
North Sea ◽  
Output Growth ◽  
Balance Of Payments ◽  
Export Growth ◽  
Consumer Spending ◽  
Fixed Investment ◽  
Difficult Time ◽  
World Markets

The new Chancellor, John Major, has taken office at a difficult time for the conduct of economic policy. The boom of the late 1980s has spent its force, but as yet there is no sign of the improvement in the balance of payments, or the reduction in inflation one might expect as a consequence.In our main forecasts we show output growth in 1990 of just over 1½ per cent, less than 1 per cent excluding North Sea oil production. Consumer spending, which gave the main impetus to the early stages of the boom, will hardly rise next year and stock building is expected to turn negative. Fixed investment is unlikely to contribute much to the growth of demand year-on-year. The fall in the exchange rate during this year will help to sustain export growth next year, although world markets will not be as buoyant as they have been in 1989.

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