1st Edition
The Economics of the Oil and Gas Industry Emerging Markets and Developing Economies
Energy is a key resource for transformational development globally. Oil and gas continue to play a key role in this sector irrespective of the gradual transition towards renewables and will continue to do so in most developing and emerging economies in the near future. The industry is complex and highly capital intensive not only with significant risk, but also with significant benefits. Such a complex but important sector is generally not well understood both in academic and policy circles.
This book fills this void by serving as a comprehensive reference to the oil and gas sector, with a focus on emerging markets and developing economies (EMDEs). It offers in-depth coverage of the critical and contemporary issues in the economics of the oil and gas industry by carefully integrating the relevant theoretical underpinnings and practical policy issues across the value chain of the industry in relation to the development, fiscal arrangements, and the economic and financing aspects of the industry. These insights will significantly deepen the understanding of the industry and extend knowledge of the sector in ways that existing books do not.
The book includes relevant cases and, thus, will serve as a valuable resource for students taking courses in market analysis of the oil and gas industry, energy economics, development economics and finance, environmental and resource economics, the political economy of the extractive industry, and development studies. Researchers and practitioners working in these areas will also find the book to be a useful reference guide.
List of Tables
List of Figures
List of Contributors
PART I: OVERVIEW OF THE OIL AND GAS INDUSTRY
- Introduction to the Economics of the Global Oil and Gas Industry in Emerging and Developing Economies
- The Oil and Gas Industry in Emerging and Developing Economies
- Oil and Gas Exploration, Development and Production in Emerging Markets and Developing Economies
- Legal, Regulatory and Fiscal Arrangement in the Oil and Gas Industry in Emerging and Developing Countries
- Oil and Gas Energy Security
- The Economies of Oil and Gas Resources
- Economics of Downstream Oil & Gas Project, Risk & Decision Analysis
- The Market for Crude Oil
- Financing Oil and Gas Companies in Emerging and Developing Economies
- Project Finance for the Oil and Gas Industry in Emerging Markets and Developing Economies
- Investment Appraisal for Oil and Gas Projects
- Financial Analysis of Oil and Gas Firms
- Financial Planning and Forecasting in the Oil and Gas Industry
- Oil and Gas Valuation
- Mergers and Acquisitions in the Oil and Gas Sector
- Enterprise Risk Management in the Oil and Gas industry: Evidence from a Developing Market
- Derivative Markets for Oil and Gas Transactions
- Petroleum Wealth Management in Emerging and Developing Countries
- Oil Revenues, Finance and Economic Development
- The Political Economy of the Oil and Gas Sector in Emerging and Developing Countries
Joshua Yindenaba Abor, Amin Karimu, and Runar Brännlund
PART II: OIL AND GAS DEVELOPMENT AND FISCAL ARRANGEMENT
Jephthah O. Osei, Amin Karimu, Maxwell K. Kally, and MacDonald Goanue
Joseph Kwadwo Asenso, Betty Nagudi and Kevin Aanyu
Abdallah Ali-Nakyea, Raymond Atuguba, Olufemi M. Saibu, and Nasir A. Mohammed
Raphael Odoom, Runar Brännlund, Amin Karimu, and Jonas Nanzoninge
PART III: OIL AND GAS ECONOMICS AND FINANCE
Amin Karimu, Godwill Agordoh, Peter Quartey and Runar Brännlund
Khadijah Iddrisu, Phillip Kofi Adom, Jabir Ibrahim Mohammed, and Amin Karimu
Ebenezer Bugri Anarfo, Joseph Abor, George N. A. Donkor and Freshia Mugo-Waweru
Lawrence M. Atuna, Janet T. Abor, Ananth Rao, and Anthony A. Idun
Joshua Yindenaba Abor, Benjamin Agyeman, and Paul Kibuuka
Kannyiri Banyen, Daniel Domeher, and Joseph Nyeadi
Zangina Isshaq, Emmanuel Sarpong-Kumankoma and Kemi Yekini
Mohammed Aminu Sualihu, Mohammed Amidu, Tov Assogbavi and Alex Donto
Isaac Otchere, Michael Adusei, Joshua Yindenaba Abor and Thankom Arun
Anastacia C. Arko, Joshua Y. Abor, Ali Sheikhbahaei and Alfred Yawson
Elikplimi Komla Agbloyor, Emmanuel Joel Aikins Abakah and Susana Yamoah
Godfred Amewu, Joshua Yindenaba Abor and Victor Murinde
James Atambilla Abugre, Joshua Yindenaba Abor, Ruhul Salim and Daniel Ofori-Sasu
Jabir I. Mohammed, Verah O. Fiador, Amin Karimu and Joshua Y. Abor
Simplice A. Asongu, Gerald Emmanuel Arhin, Abdul-Gafaru Abdulai and Justice Nyigmah Bawole
Index
Biography
Joshua Yindenaba Abor is Financial Economist, Professor of Finance, and former Dean of the University of Ghana Business School. He is External Fellow at the Centre for Global Finance, SOAS University of London, UK, and Adjunct Professor of Development Finance at the University of Stellenbosch Business School, South Africa.
Amin Karimu is Associate Professor in Economics at the School of Economics, University of Cape Town, South Africa, and Visiting Scholar at the Centre for Environmental and Resource Economics at Umeå University, Sweden.
Runar Brännlund is Professor of Economics at the School of Business, Economics and Statistics, and former Director of the Center for Environmental and Resource Economics (CERE), Umeå University, Sweden.
