International Oil and Gas Markets

 

Instructor:

Olga Garanina, Associate prof., Department of Strategic and International Management, Graduate School of Management, St.Petersburg University

o.garanina@gsom.pu.ru

Workload:

6 ECTS,

45 contact hours

Prerequisites:

No

Course Description:

The course aims to familiarize the students with major trends in the international oil and gas markets and with key business related issues in the global oil and gas industry. It discusses market fundamentals with particular emphasis on recent challenges raised by exploration of unconventional energy resources. The course builds understanding of investment decisions in hydrocarbon exploration and production projects as well as organization of trade in oil and natural gas at global and regional scale. It concludes by analyzing challenges of international cooperation for providing sustainable and secure energy for all.
Upon completion of the course, the students should: gain basic knowledge and key concepts related to energy supply and demand, oil and gas industry structure and pricing; gain understanding of major trends in oil and gas markets, as well as related risks and uncertainties; critically reflect on strategic decisions of energy companies and value creation in oil and gas industry.

Course Content (Topics and subtopics):

Topic 1. Global trends in oil and gas markets

Topic 2. Unconventional hydrocarbon resources
Topic 3. Energy companies: objectives and strategies
Topic 4. Upstream petroleum agreements
Topic 5. Developing oil and gas projects and investment decisions
Topic 6. Oil markets and pricing
Topic 7. Natural gas markets and pricing
Topic 8. Energy security and energy governance

Course Organization:

Lectures, seminars, case studies, group work, exercises, home and class discussion and assignments.

Course Reading (the full list):

Core reading:

  • Cases (The Case Centre collection), to be distributed in class (3-4 cases to buy)
  • Research articles, accessible through Gsom library
  • Inkpen A., Moffet M. (2011). Global Oil and Gas Industry: Management, Strategy and Finance. PenWell. (access via Ebrary Academic Complete)
  • Nersesian R. (2016). Energy Economics: Markets, History and Policy. Routledge. (Available online through EBSCOhost)

Supplementary reading:

  • IEA (2015). World Energy Outlook 2015. OECD/IEA.

Exam format:

In-class
Duration: 90 minutes

Grading Policy (% or points):

Course progress – 50 %, exam – 50 %.

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