A. Fadeev, N. Komendantova, A. Cherepovitsyn, A. Tsvetkova, Ivan Paramonov
The Organization of the Petroleum Exporting Countries and the Russian Federation are the key players in the global hydrocarbon market today. The successful hydrocarbon development is inextricably linked to the provision of highly qualified personnel for projects being implemented. To develop a universal methodology for planning the number of personnel of certain qualifications for the hydrocarbon deposit development in the shelf area is the main purpose of the study. A tool for prognosis and planning the number of personnel for offshore oil and gas projects is proposed. This methodological tool is based on a model of a static balance between the available human resource potential and the personnel requirements, which is expressed by a system of equations. The calculation is carried out on the example of an offshore project of the oil and gas company.
{"title":"Methods and priorities for human resource planning in oil and gas projects in Russia and OPEC","authors":"A. Fadeev, N. Komendantova, A. Cherepovitsyn, A. Tsvetkova, Ivan Paramonov","doi":"10.1111/opec.12213","DOIUrl":"https://doi.org/10.1111/opec.12213","url":null,"abstract":"The Organization of the Petroleum Exporting Countries and the Russian Federation are the key players in the global hydrocarbon market today. The successful hydrocarbon development is inextricably linked to the provision of highly qualified personnel for projects being implemented. To develop a universal methodology for planning the number of personnel of certain qualifications for the hydrocarbon deposit development in the shelf area is the main purpose of the study. A tool for prognosis and planning the number of personnel for offshore oil and gas projects is proposed. This methodological tool is based on a model of a static balance between the available human resource potential and the personnel requirements, which is expressed by a system of equations. The calculation is carried out on the example of an offshore project of the oil and gas company.","PeriodicalId":44992,"journal":{"name":"OPEC Energy Review","volume":null,"pages":null},"PeriodicalIF":2.2,"publicationDate":"2021-08-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/opec.12213","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42645147","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
B. Gyamfi, M. Bein, F. Bekun, Sarpong Steve Yaw, Xuan Vinh Vo
{"title":"Assessment of environmental implications of energy consumption towards sustainable development in G7 countries","authors":"B. Gyamfi, M. Bein, F. Bekun, Sarpong Steve Yaw, Xuan Vinh Vo","doi":"10.1111/opec.12207","DOIUrl":"https://doi.org/10.1111/opec.12207","url":null,"abstract":"","PeriodicalId":44992,"journal":{"name":"OPEC Energy Review","volume":null,"pages":null},"PeriodicalIF":2.2,"publicationDate":"2021-07-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/opec.12207","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44670157","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The role of income level and institutional quality in the non‐renewable energy consumption and life expectancy nexus: evidence from selected oil‐producing economies in Africa","authors":"R. Ibrahim, K. Ajide","doi":"10.1111/opec.12212","DOIUrl":"https://doi.org/10.1111/opec.12212","url":null,"abstract":"","PeriodicalId":44992,"journal":{"name":"OPEC Energy Review","volume":null,"pages":null},"PeriodicalIF":2.2,"publicationDate":"2021-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44162819","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Issue Information","authors":"","doi":"10.1111/opec.12173","DOIUrl":"https://doi.org/10.1111/opec.12173","url":null,"abstract":"","PeriodicalId":44992,"journal":{"name":"OPEC Energy Review","volume":null,"pages":null},"PeriodicalIF":2.2,"publicationDate":"2021-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/opec.12173","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48487192","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper provides a historical perspective from 1990 to 2018 of the functioning of the world oil market with and without OPEC. The analysis builds on a new methodology simulating counterfactual (i.e. what-if) outcomes in the rich context of state-of-the-art structural VAR models of the world oil market to empirically assess OPEC ’ s contribution to oil markets and the global economy by quantifying the impact of OPEC ’ s balancing role via its spare capacity cushion on the historical evolution of oil production, oil prices and price volatility, the joint evolution of the supply and demand elasticities and global welfare. A counterfactual scenario is constructed of how global oil production would have evolved if OPEC had been producing at maximum capacity, held no spare capacity and did not play any balancing role since 1990. The analysis also employs a general equilibrium approach to determine the global welfare implications of a world without OPEC spare capacity across oil-exporting and oil-importing regions. The welfare effects are calculated based on regional GDP gains and losses following changes in oil production patterns globally. The methodology to determine the impact on GDP is based on a computable general equilibrium (CGE) framework which offers a high level of detail regarding the world economy in terms of economic sectors and regional interdependencies.
{"title":"OPEC at 60: the world with and without OPEC","authors":"A. Economou, B. Fattouh","doi":"10.1111/OPEC.12205","DOIUrl":"https://doi.org/10.1111/OPEC.12205","url":null,"abstract":"This paper provides a historical perspective from 1990 to 2018 of the functioning of the world oil market with and without OPEC. The analysis builds on a new methodology simulating counterfactual (i.e. what-if) outcomes in the rich context of state-of-the-art structural VAR models of the world oil market to empirically assess OPEC ’ s contribution to oil markets and the global economy by quantifying the impact of OPEC ’ s balancing role via its spare capacity cushion on the historical evolution of oil production, oil prices and price volatility, the joint evolution of the supply and demand elasticities and global welfare. A counterfactual scenario is constructed of how global oil production would have evolved if OPEC had been producing at maximum capacity, held no spare capacity and did not play any balancing role since 1990. The analysis also employs a general equilibrium approach to determine the global welfare implications of a world without OPEC spare capacity across oil-exporting and oil-importing regions. The welfare effects are calculated based on regional GDP gains and losses following changes in oil production patterns globally. The methodology to determine the impact on GDP is based on a computable general equilibrium (CGE) framework which offers a high level of detail regarding the world economy in terms of economic sectors and regional interdependencies.","PeriodicalId":44992,"journal":{"name":"OPEC Energy Review","volume":null,"pages":null},"PeriodicalIF":2.2,"publicationDate":"2021-05-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/OPEC.12205","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48907403","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
K. Okere, O. M. Ogbulu, F. C. Onuoha, Izuchukwu Ogbodo
{"title":"What drives the energy consumption mix in Nigeria? The role of financial development, population age groups, urbanization and international trade: insight from ARDL Analysis","authors":"K. Okere, O. M. Ogbulu, F. C. Onuoha, Izuchukwu Ogbodo","doi":"10.1111/opec.12193","DOIUrl":"https://doi.org/10.1111/opec.12193","url":null,"abstract":"","PeriodicalId":44992,"journal":{"name":"OPEC Energy Review","volume":null,"pages":null},"PeriodicalIF":2.2,"publicationDate":"2021-04-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/opec.12193","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47391546","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Asymmetric effects of oil revenue on government expenditure: insights from oil‐exporting developing countries","authors":"A. Hassan","doi":"10.1111/OPEC.12203","DOIUrl":"https://doi.org/10.1111/OPEC.12203","url":null,"abstract":"","PeriodicalId":44992,"journal":{"name":"OPEC Energy Review","volume":null,"pages":null},"PeriodicalIF":2.2,"publicationDate":"2021-04-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/OPEC.12203","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43052302","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Energy market dynamics and role of fiscal policy in oil‐exporting countries: a TVAR approach","authors":"Rozina Shaheen","doi":"10.1111/OPEC.12204","DOIUrl":"https://doi.org/10.1111/OPEC.12204","url":null,"abstract":"","PeriodicalId":44992,"journal":{"name":"OPEC Energy Review","volume":null,"pages":null},"PeriodicalIF":2.2,"publicationDate":"2021-04-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/OPEC.12204","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41699455","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We investigate the extent to whichOPEC has succeeded in its self-stated mission of stabilising the oil market and the implications for the world’s economy. We discuss the modelling framework developed by Pierru, Smith and Zamrik (2018) and Pierru, Smith and Almutairi (2020) and update their analyses. Unstabilised monthly oil prices that would have prevailed in the absence of OPEC’s spare capacity policy are determined for the September 2001–June 2020 period. Overall, OPEC’s management of spare capacity has significantly decreased themonthly volatility of the oil price. Three subperiods (commodity boom, market-share campaign, OPEC+) can, however, be distinguished in terms of the impact on price volatility. The annual value of OPEC’s spare capacity to the world’s economy is estimated to be 193.1 billion in 2019 US dollars.
{"title":"The value of OPEC’s spare capacity to the oil market and global economy","authors":"H. Almutairi, Axel Pierru, James L. Smith","doi":"10.1111/OPEC.12199","DOIUrl":"https://doi.org/10.1111/OPEC.12199","url":null,"abstract":"We investigate the extent to whichOPEC has succeeded in its self-stated mission of stabilising the oil market and the implications for the world’s economy. We discuss the modelling framework developed by Pierru, Smith and Zamrik (2018) and Pierru, Smith and Almutairi (2020) and update their analyses. Unstabilised monthly oil prices that would have prevailed in the absence of OPEC’s spare capacity policy are determined for the September 2001–June 2020 period. Overall, OPEC’s management of spare capacity has significantly decreased themonthly volatility of the oil price. Three subperiods (commodity boom, market-share campaign, OPEC+) can, however, be distinguished in terms of the impact on price volatility. The annual value of OPEC’s spare capacity to the world’s economy is estimated to be 193.1 billion in 2019 US dollars.","PeriodicalId":44992,"journal":{"name":"OPEC Energy Review","volume":null,"pages":null},"PeriodicalIF":2.2,"publicationDate":"2021-03-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/OPEC.12199","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49137630","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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