PE8076 - PETROLEUM ECONOMICS (Syllabus) 2017-regulation Anna University

PE8076 - PETROLEUM ECONOMICS (Syllabus) 2017-regulation Anna University

PE8076

PETROLEUM ECONOMICS

 LPTC

3003

OBJECTIVE:
• To understand the basic quantitative theories and methodologist in oil sector.

UNIT I

9

Supply and demand curves, the elasticity of supply and demand, public finance concepts such as consumer surplus, excise and export taxes. Forecasting techniques for the energy industry, including energy prices. Demand and supply for natural gas, cured oil and pipeline transportation, determinants of energy demand, energy markets, energy pricing, stability and performance of energy markets.

UNIT II

9

The economics of investment, Discounted cash flow analysis, Cost Benefit Analyses, Internal Rate of Return, NPV, Profitability Index, Natural Monopoly theory, National competition Policy, Gas Market Regulation, taxation of the oil and gas industry, government policy and trade permits, Monte Carlo analysis, Net Back Pricing, Transfer Pricing and regulatory aspects.


UNIT III

9

Application of petroleum engineering principles and economics to the evaluation of oil and gas projects, evaluation principles, time value of money concepts, investment measures, cost estimation, price and production forecasting, risk and uncertainty, project selection and capital budgeting inflation, escalation, operating costs, depreciation, cost recovery.

UNIT IV

9

Petroleum exploration and production contracts. Sharing of the economic rent, portfolio management. Value creation, Corporate finance & return on capital, economic appraisal methods for oil filed development, reservoir model costs and calculations.

UNIT V

9

Case studies: Economic study of an oil filed development project, petrochemical plant project, natural gas break even price, natural gas liquefaction cost, LGN transport cost, investment profitability study for a gas pipeline.

TOTAL : 45 PERIODS

OUTCOME:
• Students will be able to understand the concept and fundamentals of engineering economics of energy industry

TEXT BOOKS:
1. Industrial Economics – An Introductory Textbook. R.R.Barthwal, 2nd Edition, New Age International Publisher.
2. Managerial Economics – D.N.Divedi. 6th Revised Edition. Vikas Publishing House Private Ltd.
3. Standard Handbook of Petroleum and Natural Gas Engineering. 2nd Edition. William C Lyons, Gary, C Plisga. Gulf Professional Publishing.

REFERENCES:
1. Petroleum Engineering Handbook. Bradely, H.B. Society of Petroleum Engineers. Richardson. Texas.
2. The Encyclopedia Americana, International Edition Volume 9, Grolier Incorporated.

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