An Analysis of Shale Oil Development and Its Implications for OPEC Exporting Nations

An Analysis of Shale Oil Development and Its Implications for OPEC Exporting Nations

Author: Ayorinde Joshua Ogunyiola


ISBN: OCLC:1306232611


Page: 14

View: 452

The paper analyzed shale oil development in the United States and its implications for the Nigerian economy. The analyses show that recent shifts in global energy market are characterized firstly by advancement in technology (horizontal drilling and hydraulic fracking) as a result of rising global crude oil price making shale production cheaper to explore and second, increase demand from Asia. The analysis reveals an increase in global oil production, decline in U.S. oil import from the world with increased reference to Nigeria. Further, the Nigerian macroeconomy has largely been affected by the recent global shift in energy market. Oil revenue has declined alongside exchange rate and external reserves with external debt rising. The study recommends therefore that greater weight should be assigned to engineering diversification of the economy from over dependence on oil revenue to reduce macroeconomic instability.

OPEC in a Shale Oil World

OPEC in a Shale Oil World

Author: Mohamed Ramady

Publisher: Springer

ISBN: 9783319223711

Category: Political Science

Page: 269

View: 192

RAMADy, Mahdi OPec in a sHALE oil world –where to NEXT? With PREFACE by Dr. Sadad Al Husseini , former Board Member and Executive Vice President , Saudi Aramco. "OPEC has played an important role since its founding and continues to do so, but it has to recognize that this role has now changed and the organization has to adapt to new challenges. This book provides some possible solutions" Abdulsamad Al Awadhi, former Kuwait National Representative at OPEC . "Authoritative, well-informed, and excellent account of the role of OPEC in managing the oil market, present, past, and future" Hassan Qabazard, former Director of Research Division , OPEC. ". The call for action by Mohamed Ramady and Wael Mahdy in this book makes it clear that time, and not oil, is the precious commodity that is running out fast on OPEC’s side", Sadad Al Husseini , former Board Member and EVP Saudi Aramco “OPEC is dead. Long live OPEC”. The organization is now going through a mid life crisis in its 54 years of existence trying to figure out where it goes next in a world where OPEC has been relegated from being the energy swing producer, and Saudi Arabia as the ‘Sultan of the Swing,’ to one where it now faces competition from both non- OPEC traditional well as non-conventional shale producers. The Authors examine how OPEC has had to come to terms with the reality that the earlier decades ‘call on OPEC’ has now been replaced by a ‘call on non-OPEC’ and that a new ‘swing’ has been identified- the producers of shale oil. Drawing upon the Authors combined academic and practical first hand insights on OPEC, the book discusses how a new OPEC paradigm has emerged following the oil price rout of 2014, whereby the organization’s principal concern is now protecting market share, without being in charge unlike earlier fleeting periods of the late 1970’s, which brought with it a lasting myth of the OPEC cartel. Mohamed Ramady is Visiting Associate Professor, King Fahd University of Petroleum and Minerals, Saudi Arabia; Wael Mahdi is Bloomberg OPEC Energy Correspondent.

Project Risk Analysis Made Ridiculously Simple

Project Risk Analysis Made Ridiculously Simple

Author: Virine Lev

Publisher: Imperial College Press

ISBN: 9789814759397

Category: Business & Economics

Page: 284

View: 110

Project management is the art of analyzing and managing risks. Without risk, there is little need for project management. Project Risk Analysis Made Ridiculously Simple offers a step-by-step guide on how to perform project risk analysis and risk management for a wide range of readers: students, project schedulers not exposed to project risk analysis before, and to project risk experts. With this book, you will learn how to: Identify and manage risks over the course of a projectPerform qualitative and quantitative risk analysisPerform project risk analysis using Monte Carlo simulationsUse event chain methodology to improve project risk analysisPerform risk analysis of project portfolios. Easily recognizable real-life stories and projects provide a compelling narrative while imparting valuable information on both the theory and practice of project risk management. You will not only understand why project risk management is important to the success of their projects, but you will also know how it can be implemented in your organization and the appropriate tools to use.

Coal Resources of the United States

Coal Resources of the United States

Author: Paul Averitt

Publisher: Forgotten Books

ISBN: 0366374532

Category: Business & Economics

Page: 142

View: 446

Excerpt from Coal Resources of the United States: January 1, 1974 Coal is widespread and abundant in most parts of the United States, and, like petroleum and natural gas, it has contributed significantly to our industrial and economic growth. Of the three fuels, coal is by far the most abundant. On the basis of an adjusted and weighted analysis of data available on resources of fossil fuel in the United States as of January 1, 1974, the recoverable resources of coal contain about 10 times more heat value than the combined recoverable resources of petroleum and natural gas. (see table This is an important relation that deserves recognition and examination. Throughout the long period prior to the oil embargo imposed in 1973 by the Organization of Petroleum Exporting Countries (opec), the unit Btu costs of petroleum and natural gas were relatively low, and these fuels were more convenient to use and were more environmentally acceptable than coal. As a result, the fourfold increase in use of energy that has taken place in the United States since the mid-1930's has been met largely by an increase in use of petroleum and natural gas. The increase was accelerated after World War II by a prolonged period of industrial and economic growth and by a considerable increase both in population and in per capita use of energy. The increase in use of petroleum and natural gas was accompanied by a steady increase in net imports of petroleum beginning in the late 1950's, by an apparent decline in domestic production of petroleum, beginning in 1970, and by a sobering decline in proved reserves of both fuels beginning in the late 1960's and early 1970's. To be tested in the years ahead is the expectation that higher prices-established for these fuels in 1973 and 1974 will increase domestic supply and decrease demand. The higher prices for petroleum and natural gas will surely increase use of atomic energy, coal, and other alternate sources of energy for the generation of electricity and increase use of coal, oil shale, and bituminous sands as sources of synthetic liquid fuels and pipeline gas. Use of these alternate or previously subordinate sources of energy should ease demand for petroleum and natural gas and extend the life expectancy of these premium fuels. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.