This study investigates the use of discretion by oil and gas companies in reporting financial performance and oil and gas reserve estimates during times of high political scrutiny resulting from increases in energy prices. Hypotheses tested in prior literature state that companies facing the...

The M.I.T. World Oil Project has been developing improved methods and data for analysis of the future course of the world oil market. Any forecast of this market depends on analysis of the likely demand for oil imports by major consuming countries, and the likely supply from exporters who behave...

This Selected Issues paper reviews the developments, issues, and prospects of the petroleum sector of Kazakhstan, and analyzes the recent strong economic growth, the links between the oil and the non-oil sector, and assesses the contribution of each sector. It explores the trade policy options...

This 2013 Article IV Consultation highlights that Norwegian economy has been performing well, with mainland GDP growing steadily. However, the continuing buildup of assets in the sovereign wealth fund and the increasing share of the mainland economy that is supplying goods and services to the...

We study the effects of oil-price shocks on the U.S. economy combining narrative and quantitative approaches. After examining daily oil-related events since 1984, we classify them into various event types. We then develop measures of exogenous shocks that avoid endogeneity and predictability...

The objective of this paper is to examine the responsiveness to price incentives of petroleum exploration, the generation of proven reserves and the production out of reserves in the United States. First, a theoretical framework of oil extraction and supply is developed. Next, an econometric...

The oil companies are concerned to replace the petroleum reserves they producein order to maintain their future level of activity. Booked reserves alsorepresent an important input when analysts value these companies. Many producercountries want to control their own resources, a goal which can...

The USA appears increasingly concerned that its security is being threatened by the increasing role of energy suppliers in the Middle East and Russia, and rapidly rising energy consumers such as China. The USA also faces the challenge of its role in reducing global greenhouse gas emissions. In...

The USA appears increasingly concerned that its security is being threatened by the increasing role of energy suppliers in the Middle East and Russia, and rapidly rising energy consumers such as China. The USA also faces the challenge of its role in reducing global greenhouse gas emissions. In...