The Economics of the Oil and Gas Industry: Emerging Markets and Developing Economies

Energy is a key resource for transformational development globally. Oil and gas continue to play a key role in this sector irrespective of the gradual transition towards renewables and will continue to do so in most developing and emerging economies in the near future. The industry is complex and highly capital intensive not only with significant risk, but also with significant benefits. Such a complex but important sector is generally not well understood both in academic and policy circles.

This book fills this void by serving as a comprehensive reference to the oil and gas sector, with a focus on emerging markets and developing economies (EMDEs). It offers in-depth coverage of the critical and contemporary issues in the economics of the oil and gas industry by carefully integrating the relevant theoretical underpinnings and practical policy issues across the value chain of the industry in relation to the development, fiscal arrangements, and the economic and financing aspects of the industry. These insights will significantly deepen the understanding of the industry and extend knowledge of the sector in ways that existing books do not.

The book includes relevant cases and, thus, will serve as a valuable resource for students taking courses in market analysis of the oil and gas industry, energy economics, development economics and finance, environmental and resource economics, the political economy of the extractive industry, and development studies. Researchers and practitioners working in these areas will also find the book to be a useful reference guide.

Joshua Yindenaba Abor is a Financial Economist, Professor of Finance, and former Dean of the University of Ghana Business School. He is an External Fellow at the Centre for Global Finance, SOAS University of London, UK, and Adjunct Professor of Development Finance at the University of Stellenbosch Business School, South Africa.

Amin Karimu is an Associate Professor in Economics at the School of Economics, University of Cape Town, South Africa and Visiting Scholar at the Centre for Environmental and Resource Economics at Umeå University, Sweden.

Runar Brännlund is Professor of Economics at the School of Business, Economics and Statistics, and former Director of the Center for Environmental and Resource Economics (CERE), Umeå University, Sweden.