Shirkou Bahadori; Teymour Mohammadi; Farshad Momeni; Abbas Kazeminajafabadi
Abstract
In this study the effect of petroleum contracts on Iran and Saudi Arabia’s oil production trend has investigated. Disaggregated approach has utilized to investigate the effect of petroleum contracts. In this approach, optimal production of the fields of above mentioned countries, has been evaluated ...
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In this study the effect of petroleum contracts on Iran and Saudi Arabia’s oil production trend has investigated. Disaggregated approach has utilized to investigate the effect of petroleum contracts. In this approach, optimal production of the fields of above mentioned countries, has been evaluated in two scenarios. Then by summation of production data of all fields, production trend of these two countries has been calculated. In the first scenario, it is assumed that control of oil production is in the hands of host country, while control of production in the second scenario is determined based on the kind of contracts which the host country has had during its oil production history. Based on the estimated production trend of two countries, it is observed that in the case which International Oil Company controls the production, rate of oil extraction is more than the case which production is controlled by the host country. Also by increasing the portion of International Oil Company from the produced oil, it increases the production rate to maximize its own net present value.
sayed sajad padam; Mohammad Javad Nourahmadi
Abstract
One of the important aspects of each country's economic security is energy security. Energy security is inversely related to the vulnerability of the energy system and by strengthening energy system has a direct relationship. Energy system consists of three major parts production, distribution and consumption ...
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One of the important aspects of each country's economic security is energy security. Energy security is inversely related to the vulnerability of the energy system and by strengthening energy system has a direct relationship. Energy system consists of three major parts production, distribution and consumption of energy. Given the economic and oil sanctions imposed on the country in recent years, Strengthening economic issue And particularly retrofitting energy systems for Iran has become important. In this article strengthening oil and gas sector of the energy system with emphasis on the conservation of production is discussed. Iran's energy system vulnerability from oil and gas production including lack of awareness of the actual amount of oil and gas reserves Based on production and consumption processes in the country, the lack of optimal management of and the lack of guarantee contracts intergenerational interests that this research by addressing these vulnerabilities And solutions to fix the injuries presents Recommendations for strengthening Iran's energy system from the perspective of the continuation of production.
Mohammad Reza Shokouhi; Mahsa Soleimani; Rasoul Sheikhinezhad moghaddam; Aye Katebi
Abstract
In this paper, utilizing a cash flow model in an Oil field as a case study, we compare the efficiency of fiscal regimes of buy back and Iranian Petroleum Contract (IPC). In order to implement the mentioned comparison, we have selected influential financial indices such as: internal rate of return (IRR), ...
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In this paper, utilizing a cash flow model in an Oil field as a case study, we compare the efficiency of fiscal regimes of buy back and Iranian Petroleum Contract (IPC). In order to implement the mentioned comparison, we have selected influential financial indices such as: internal rate of return (IRR), Net Present value (NPV), Payback period, Profit to investment ratio (PIR) and Government take (GT). Furthermore, considering three price scenarios, sensitivity analysis is performed for different oil prices. Subsequently, we model IPC comprising Enhanced Oil Recovery (EOR (/Improved Oil Recovery) IOR) operations and compare it with IPC without EOR/IOR in terms of the specified indices. Our results indicate that in addition to the more eligibility of IPC for contractors than buy back contracts, Government take is still adequate and noticeable enough in spite of the reduction it would confront in IPC. The paper concludes IPC comprising EOR/IOR is more beneficial to host government than E&P companies, therefore contractors do not have sufficient incentives to apply EOR/IOR operations in which the host government should lead the contractor toward by providing them with mutually acceptable options.
Zohreh Shirani Fakhr; Rahaman Khoshakhlagh
Abstract
In this study, we estimate the demand for energy in the industrial subsectors of Iran in terms of double-digit ISIC classification using structural time series model (STSM) over the period of 13601981-20091388. As a case study, we alsoAlso, as a case study we estimated the demand for energy in subsection ...
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In this study, we estimate the demand for energy in the industrial subsectors of Iran in terms of double-digit ISIC classification using structural time series model (STSM) over the period of 13601981-20091388. As a case study, we alsoAlso, as a case study we estimated the demand for energy in subsection subsectors of textile, apparel and leather products. Furthermore, we try to determine considered the role of different climates in energy demand of the industrial subsectors. Because Since the Targeting of Subsidies Plan was approved by the Iranian parliament at the end of 13892010, so we evaluated the role of this plan on energy demand of industrial subsectors too. By estimating the demand functions of electricity, natural gas, gas oil and mazut in subsection textile, apparel and leather products, it is found thatThe estimation results of demand for electricity, natural gas, gas oil and mazut fuel oil in three subsectors show that the estimated short-run price elasticities of these energy carriers are inelastic. The estimated long-run price elasticity of electricity is inelastic and long-run price elasticity of natural gas, gas oil and fuel oil mazut are more than unit. The estimated short-run output elasticities of these energy carries are inelastic and long- run output elasticities of electricity, gas oil and fuel oil mazut are inelastic and long- run output elasticitiy of natural gas are elastic. The result shows that the best climate for manufacture in textile sector is mild and humid climate. The results suggest that the nature ofAlso the trend of natural gas and fuel oil mazut demand are not linear and deterministic but stochastic in form andbut for electricity demand isn linear and deterministic. In aAdditionally, the result of evaluating effect of the Targeting of Subsidies Plan shows that the estimated demand for natural gas and fuel oil mazut demand functions can explain the impact of this policy.
Ali Taherifard; Roholla Mahdavi; Hamed sahebhonar; Mohamad Ali Khakpour; Java keypour
Abstract
The survey of Associated Petroleum Gas (APG) flaring illustrate that about 40 million cubic meter of APG have flared in oil operating regions at 1395 year. High volume of Associated Petroleum Gas (APG) flaring and problem of Notional Iranian Oil Company (NIOC) for execution of APG gathering plans has ...
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The survey of Associated Petroleum Gas (APG) flaring illustrate that about 40 million cubic meter of APG have flared in oil operating regions at 1395 year. High volume of Associated Petroleum Gas (APG) flaring and problem of Notional Iranian Oil Company (NIOC) for execution of APG gathering plans has led to do policies such as auction of APG and transfer of NGL units to private sector by this company. Requisite for implementation of this policies that means present private sector in APG gathering plans is creation of given set up and framework in relations between NIOC and private sector. One of the cases that has important role in APG plans, is determined APG Pricing Model. So in this paper, meanwhile explained gas pricing models, a model was suggested for APG pricing. The main results of this study is pricing model for APG assuming sale to NGL unit such as NGL-3200 in which this model is based on fundamental principles such as type of use APG, gas quality, environmental issues, thermal value of gas and liquid content. Moreover, employing this model for feed pricing of NGL-3200 unit shows that minimum and maximum of APG price for this unit 5 and 8.2 cent per cubic meters Respectively. Also, sensitivity analysis presents that change of utilization rate, price of product from APG processing and capital cost can be effective on APG price
Omolbanin Jalali; Madjid Hatefi Madjumerd
Abstract
The government budget dependency on oil revenues, in Iranian economy, make the oil price important; so the oil price is one of the most important pillars of the policy for policymakers. The existence of bubble in the oil market makes oil prices more important than before because in these conditions, ...
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The government budget dependency on oil revenues, in Iranian economy, make the oil price important; so the oil price is one of the most important pillars of the policy for policymakers. The existence of bubble in the oil market makes oil prices more important than before because in these conditions, decision-making is difficult for policy makers. The purpose of this study is applying a recursive unit root tests (GSADF, RADF, SADF) to investigate whether there exist multiple bubbles in Iranian crude oil market. The method delivers a consistent date stamping strategy for origination and termination of bubbles. Our results indicate that these tests are approximately overlapped and their results are relatively the same. The results of GSADF test indicate that there exists 7 bubbles in the period of 01/1980 to 03/2014, in which an average of the bubbles period (almost 15 months) is from 06/2007 to 09/2008 and the lowest bubble period (approximately 1 month) is from 02/2012 to 03/2012. Specifically, the results show that oil price contains the fundamentals and bubble components; the dates of the bubbles correspond to specific events in the politics and financial markets. These findings have important implications to recognize the cause of bubbles and take corresponding measures to reduce the impact on the real sector of economy.
