Petroleum Policy and Economics (by Distance Learning) module (CP50007)

The international petroleum industry is one of the biggest industries in the world in terms of revenues. This includes the upstream (exploration and production) and downstream (refining and marketing) activities of oil and gas.

You will explore the principal ideas relating to the demand, supply, and prices of oil and gas markets.

You will analyse the relationship between the engineering and technical aspects of the petroleum industry. You will see how this affects the economics and policies relating to the international petroleum industry.

You will review the main economic and financial tools available. These are used to analyse the features, trends, and decision-making of the industry.

What you will learn

In this module, you will learn about:

• oil and the macroeconomy
• “Resource Curse”
• the petroleum value chain
• exploration, development, and production
• transportation
• refining
• marketing and distribution
• natural gas monetisation
• gas to power
• liqueified natural gas (LNG)
• gas-to-liquid (GTL)
• Organization of the Petroleum Exporting Countries (OPEC) and oil prices
• futures and options
• integration of industry
• restructuring of national oil companies

By the end of this module, you will be able to:

• perform economic analysis relating to international oil & gas projects, contracts, and policies
• provide original and creative advice to government officials or company managers. These will be on approaches and strategies relating to the oil and gas industry
• critically review and synthesise information
• research and analyse complex issues relating to the international oil and gas industry. These will be informed by developments at the forefront of the industry

Assignments / assessment

• course work (50%)
  • research paper (3,000-4,000 words)
• final exam (50%)
  • online open book exam

Teaching methods / timetable

You will learn by distance learning using My Dundee.

Learning material is provided through:

• study guide
• core reading
• tutorial questions
• case studies