Do technological improvements mitigate the potential damages from extreme weather events? We address this question using oil production and hurricane data from the Gulf of Mexico. We show that hurricane activity lowers well production and that stronger storms have larger impacts that persist for...

Due to growing oil imports, political leaders had been forced to let private companies produce the much-needed oil without which modern life is impossible. The most strident political clashes with what is known as ‘oil nationalism’, both ending in a coup d’´etat, happened in the period...

We analyze the effects of shale oil development on regional labor markets. By exploiting the exogenous geographic endowment of shale oil and gas, we find that shale endowments have differential impacts on workers in and out of the labor market. After introducing new shale technologies in 2006,...

H2 is highlighted as a sustainable energy resource, and mainly produced by steam reforming of fossil fuels, which emit the greenhouse gases. Marine biomass is a promising alternative source because of its high productivity and carbon neutrality compared to terrestrial biomass. In this work, we...

Future production forecasts are the final output of the uncertainty quantification workflows in the oil and gas industry and are essential for decision making. Exploration and production companies have every interest in being unbiased in their forecasts and getting uncertainty estimates right,...

The introduction of CO2 in deep formations will trigger complex geochemical/geophysical processes, which affects CO2 geological storage safety and enhanced oil/gas recovery. Previous studies mainly focused on the long-term geochemical reactions in reservoir rocks with a relatively low carbonate...

The CO2 storage and oil production of different CO2 injection schemes were investigated using laboratory experiments. Microfluidic equipment was upgraded to increase its working pressure to 15 MPa. Microfluidic experiments of immiscible CO2 injection, miscible CO2 injection, and water...

The CO2 storage and oil production of different CO2 injection schemes were investigated using laboratory experiments. Microfluidic equipment was upgraded to increase its working pressure to 15 MPa. Microfluidic experiments of immiscible CO2 injection, miscible CO2 injection, and water...

The main objective of this study is to assess the impact of oil and gas production on the economy of Ghana. Specifically to ascertain the impacts of oil production on Ghana’s economy and to ascertain the effect of the production level of other sectors of the economy on Ghana’s economy. It...

This paper examines how the pollution generated by oil operations in Nigeria can affect agricultural total factor productivity. I analyze oil spillages, which constitute the major ecological disaster in Nigeria, leading to large environmental, economic and social problems. Following a...

We show that the incorporation of offshore entities increases when oil and gas exploration licences are awarded. We exploit leaked data on the incorporation of shell companies and detailed information on tax havens and the awarding rounds of oil licences to construct a new data set covering 119...

Canada’s oil sands accounted for 63 percent of oil production in Canada in 2019.Royalties from oil sands production have been the source of 7.7 percent of Alberta’s revenues since 2008 (Alberta 2020). Alberta regularly reviews the royalty regimes in place for oil and natural gas extraction,...

The Niger Delta region is the oil producing area of Nigeria, which consist of highly diverse ecosystems that is supportive of numerous species of terrestrial and aquatic fauna and flora. This region is the largest wetland in Africa and it is among the ten most important wetlands and marine...

The traditional oil supply chain suffers from various shortcomings regarding crude oil extraction, processing, distribution, environmental pollution and traceability. It offers only forward flow of products with limitations in quality inspection, fraudulent information and monopolistic behavior...

Oil and gas leases between mineral owners and extraction firms ubiquitously include royalty and primary term clauses. The royalty denotes the share of revenue that is paid to the mineral owner, and the primary term specifies the date by which the firm must complete a well, lest it lose the...

Rising global oil production is contributing to the increase of domestic revenues through a variety of fiscal mechanisms in many governments around the world. Concomitantly, the global low-carbon transition is compelling the same governments to require special taxes such as carbon tax on oil...

The perennial conflicts between the oil producing Niger-Delta region of Nigeria and the oil companies operating in the region and, by extension, the Federal Government of Nigeria, has significant implications on the development pattern and trends of the area. Engaging the qualitative methodology...

We estimate the response of domestic oil drilling to uncertainty about oil prices. We measure domestic drilling activity by the weekly number of rigs drilling for oil, and we measure oil uncertainty by implied volatility from options on oil futures. We find that oil uncertainty has a negative...

We examine the effect of air quality regulation on the productivity of some of the most heavily regulated manufacturing plants in the United States, the oil refineries of the Los Angeles (South Coast) Air Basin. We use direct measures of local air pollution regulation in this region to estimate...

In this article, optimal investment portfolios with minimal risk and maximum efficiency were calculated. The portfolios were designated for ten selected European stock exchanges, based on the listings of the twenty largest companies in each of those markets. All calculations were made based on...

This paper uses a model of intergenerational accounting to simulate the intergenerational distribution of oil wealth in Venezuela. Venezuelan oil production does not seem to follow an optimal extraction path. Nevertheless, this is true if we do not consider what the government does with the...

Purpose - The purpose of this paper is to critically examine the multinational oil companies' (MOCs) corporate social responsibility (CSR) initiatives in Nigeria. Its special focus is to investigate the impact of the global memorandum of understanding (GMoU) on reducing incidents of electoral...

The transportation sector is one of the largest fuel consumers and pollutant contributors worldwide. The International Maritime Organization predicts that the greenhouse gas (GHG) emissions from transportation will be increasing significantly until 2050, driven by the growth in global maritime...

This article examines how the shale oil revolution has shaped the evolution of U.S. crude oil and gasoline prices. It puts the evolution of shale oil production into historical perspective, highlights uncertainties about future shale oil production, and cautions against the view that the U.S....

As it is predicted that there will be a decrease in production at the oil and gas facilities that are currently operating, it becomes necessary to start developing new oil and gas fields. This results in changes to the state's policy regarding the participation of private companies in the...

In September 2020, the 2020 version of the Petroleum Industry Bill (PIB) resurfaced at Nigeria’s Senate where it passed its first reading. The Bill has two forerunners: a 2008 edition and the fragmented 2018 edition, a part of which was passed but was not assented to by the President for...

The shale gas boom has revolutionized the energy sector through hydraulic fracturing. High levels of energy production force communities, states, and nations to consider the externalities and potential risks associated with this unconventional oil and gas development (UOGD). In this review, we...

After opening up of the Interconnector, the liberalized UK natural gas market and the regulated Continental gas markets became physically integrated. The oil-linked Continental gas price became dominant, due to both the large volume of the Continental market and to the fact that the significant...

This paper presents a model for macroeconomics in Iran and, based on it, simulates and analyzes the scenarios of how to use the oil revenues. The model does not limit some general variables and, by addressing the labor market variables and price levels, it goes beyond basic models and approaches...

This paper exploits a natural experiment afforded by the fracking boom in Pennsylvania to shed light on the determinants of mortgage default. Looking only at mortgages originated before fracking became viable, and using the underlying geology as a supply shifter, we find that mortgages on homes...

This paper uses oil resource and total factor productivity as the proxies for the nominal economy and real economy, respectively, to show how oil as a financial resource would impact on economic productivity. We analyze the effect of oil export and oil import on the TFP growth rate in the full...

This study examines the impact of uncertainty on mergers and acquisition (M&A) activity. We focus on product market uncertainty in the oil and gas sector. Analysing this industry enables us to construct a natural forward-looking measure of product market uncertainty, namely the implied crude oil...

The activities and violence of militants in the Niger Delta which saw the capacity for production of oil in Nigeria fall to an all-time low resulted in the federal government of Nigeria (FGN) announcing the Presidential Amnesty Programme in return for peace in the region. We examine how...

This paper examines the advantages and drawbacks of alternative methods of estimating oil supply and oil demand elasticities and of incorporating this information into structural VAR models. I not only summarize the state of the literature, but also draw attention to a number of econometric...

This note expands Kilian's (2008) original time series of exogenous oil supply shocks along two dimensions. First, we extend the sample period and include production shortfalls in OPEC member states during 2004:10-2018:12. Second, we also consider production shortfalls in non-OPEC countries. Our...