Natural Resource Charter

Natural Resource Governance Institute (NRGI) | Document | 2014

The Natural Resource Charter is a set of principles for governments and societies on how to best harness the opportunities created by extractive resources for development. It is not a recipe or blueprint for the policies and institutions countries must build, but instead provides the ingredients suc...

Resources to Reserves

International Energy Agency (IEA) | Document | 2013

Given the major fluctuations witnessed in energy markets in the past seven years – notably the global economic crisis – Resources to Reserves 2013 assesses the availability of fossil fuels and surveys the cutting-edge technologies needed to find, produce and bring them to the market, while avoiding ...

Raw Talks: Paul Stevens, End of an Oil Era?

Raw Talks | youtube | 2017

This succinct account of some of the factors underlying petroleum economics may be of value to sector decision makers and stakeholders

Oil and Gas in Eastern Africa: Current Developments and Future Perspectives

Benjamin Augé, French Institute of International Relations | Document | 2015

The position of oil companies toward East Africa has changed considerably since 2006 when the first reserves in Uganda came to light. However, for many investors interested in the region, it remains difficult to get a clear picture of the scale of developments of this sector. This paper discusses th...

Blessing or Curse? The rise of mineral dependence among low- and middle-income countries

Oxford Policy Management (OPM) | Document | 2011

This report, produced by Oxford Policy Management’s Extractive Industries team, analyses the recent evolution of mineral dependence among low- and middle-income countries, including their relative vulnerability to the resource curse. The analysis reveals that there has been a strong increase in min...

Mapping Risks to Future Government Petroleum Revenues in Kenya

Oxfam, Don Hubert | Document | 2016

The loss of government revenue due to tax avoidance/evasion strategies by multinational companies has received significant attention in recent years in both developed and developing countries. It is widely accepted that the extractive sector is particularly vulnerable to tax evasion. Kenya has th...

Natural Resource Exploitation Challenges and Opportunities for LDCs

Commonwealth Secretariat | Document | 2011

The least developed countries (LDCs) have long been heavily dependent upon natural resource exports. This is both a problem and an opportunity. It is a problem because natural resource extraction does not directly employ many people and so has only limited direct transmission on to the incomes and w...

Low Oil Prices Impose Difficult Choices in Uganda

Natural Resource Governance Institute | Document | 2015

This blog post explains how low oil prices have imposed difficult choices in Uganda. Uganda's Ministry of Energy and Mineral Development (PEPD) recently extended the deadline for firms to submit bids in its first-ever round of licensing for six oil blocks in the Albertine Graben. The extension is in...

Managing Commodity Lifecycles (Petroleum) Topic

Adam Smith International | Document | 2017

This document is the PDF version of the "Managing Commodity Lifecycles (Petroleum)" Topic page on the Extractives Hub, which can also be found here -

Hypothetical Scottish Shares of North Sea Hydrocarbon Revenues

Professor Alexander G. Kemp and Linda Stephen | Document | 2013

The Scottish economy has benefited enormously from the exploitation of oil and gas from the UK Continental Shelf (UKCS). Thus the exploration, development and operating expenditures required for production and processing are to a considerable extent located in Scotland. They have made a major contri...

The Relative Volatility of Commodity Prices: A Re-Appraisal

Oxford Centre for the Analysis of Resource Rich Economies | Document | 2011

This paper studies the volatility of commodity prices on the basis of a large dataset of monthly prices observed in international trade data from the United States over the period 2002 to 2011. The conventional wisdom in academia and policy circles is that primary commodity prices are more volatile ...

Resilience in a Time of Volatility: Oil Prices and the Energy Industry

Document | 2015

The EY report, Resilience in a Time of Volatility: Oil Prices and the Energy Industry, focuses on the future of oil prices. This is a question that has industry experts and industry watchers searching for answers. Supply is up, demand is down, and it appears that some of the conditions that created ...

Giant Oil Fields - the Highway to Oil

Fredrik Robelius | Document | 2007

Since the 1950s, oil has been the dominant source of energy in the world. The cheap supply of oil has been the engine for economic growth in the western world. Since future oil demand is expected to increase, the question to what extent future production will be available is important. The belief in...

Inflated Expectations and Natural Resource Booms: Evidence from Kazakhstan

Oxford Centre for the Analysis of Resource Rich Economies | Document | 2013

This paper uses the exogenous variation in oil prices to study the negative effect of income aspirations on households' satisfaction with income. To evaluate the effect the authors use data on reported satisfaction with income from Kazakhstan's Household Budget Survey - a quarterly, unbalanced panel...

Blogpost by Oxfam's Extractive Industries program

Katherine Stanley | URL | 2017

This blog post critically reviews the cash flows statistics often used in the extractive sector and argues that the negative externalities to the environment and the local community need to be included in any projections.

Falling Oil Prices Expose Ghana's Governance Challenges

Natural Resource Governance Institute | Document | 2015

This blog post explains how falling oil prices expose Ghana's governance challenges. In Ghana, the story of the fall in oil prices cannot be separated from the fragility of the budget before the decline. In 2012, an election year not long after the start of oil production, civil service pay reforms ...

Optimal Oil Extraction as a Multiple Real Option

Oxford Centre for the Analysis of Resource Rich Economies | Document | 2011

This paper studies optimal oil extraction strategy and the value of an oil field using a multiple real option approach. Extracting a barrel of oil is similar to exercising a call option and optimal strategies lead to deferring production when oil prices are low and when volatility is high. The study...

A Policy Framework To Approach The Use of Associated Petroleum Gas

Columbia Center on Sustainable Investment | Document | 2016

This document provides a policy framework to approach the use of associated petroleum gas (APG). APG is a form of natural gas that is found associated with petroleum fields. APG is often flared or vented for regulatory, economic or technical reasons. The flaring, however, is problematic from health ...

Existence of Equilibria in Exhaustible Resource Markets with Economies of Scale and Inventories

Oxford Centre for the Analysis of Resource Rich Economies | Document | 2014

The paper proves the existence of equilibrium in non-renewable resource markets when extraction costs are non-convex and resource storage is possible. Inventories flatten the consumption path and eliminate price jumps at the end of the extraction period. Market equilibrium becomes then possible. The...

Petroleum Pulls the Purse Strings: Implications of Low Oil Prices for the Nigerian Economy

Natural Resource Governance Institute | Document | 2015

This blog post discusses the implications of low oil prices for the Nigerian economy. The price of oil, the commodity that more than any other determines the fortunes of Nigeria, has fallen over 50 percent since June 2014. The country’s 37 billion barrels of oil reserves are now significantly less v...