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Central American Regional Programmatic Study for the Energy Sector : General Issues and Options - Sector Overview

World Bank
Fonte: World Bank Publicador: World Bank
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36.08%
The six Central American countries of Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama share a long tradition of regional integration, including a common market, substantial intraregional trade, as well as coordinated commercial policies, such as the Central American Free Trade Agreement (CAFTA) with the US. The most significant example of regional integration in the energy subsector consists of the Sistema de Interconexion Electrica para America Central (SIEPAC), an interconnection line that is expected to link the six countries in mid-2010. The creation of the interconnection has been a long-term effort, starting in the early 1990s and culminating in 2010. This report provides an overview of the energy sector in Central America, with a focus on the power subsector, and highlights the key challenges and options for meeting future energy and development goals. One of the main objectives of the study is to identify paths for collective action whereby individual countries, and the region as a whole...

Oil Intensities and Oil Prices : Evidence for Latin America

Alaimo, Veronica; Lopez, Humberto
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Relevância na Pesquisa
46.08%
Crude oil prices have dramatically increased over the past years and are now at a historical maximum in nominal terms and very close to it in real terms. It is difficult to argue, at least for net oil importers, that higher oil prices have a positive impact on welfare. In fact, the negative relationship between oil prices and economic activity has been well documented in the literature. Yet, to the extent that higher oil prices lead to lower oil consumption, it would be possible to argue that not all the effects of a price increase are negative. Climate change concerns have been on the rise in recent years and fossil fuel consumption is generally viewed as one of the main causes behind it. Thus this paper explores whether higher oil prices contribute to lowering oil intensities (that is, oil consumption per unit of gross domestic product). The findings show that following an increase in oil prices, OECD countries tend to reduce oil intensity. However, the same result does not hold for Latin America (and more generally for middle-income countries) where oil intensities appear to be unaffected by oil prices. The paper also explores why this is so.

Assessing the Impact of Higher Oil Prices in Latin America

World Bank
Fonte: Washington, DC Publicador: Washington, DC
EN_US
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36.25%
For some Latin American countries - especially, the oil importers in the Caribbean - rising energy prices could pose a significant threat to their current account sustainability, particularly if they are accompanied by other negative shocks. In some countries the fiscal costs associated with subsidies to protect domestic consumers have been considerable so far. Hence, a better understanding of the effects of high oil prices and potential responses in the region is needed. This report evaluates the effects of oil shocks on economic performance for a sample of selected Latin American countries. The effects at the country level depend not only on the structural characteristics of the economy, such as the degree of dependence on oil, but also on the policy reactions to rising prices. Among the countries included in our study we have: large economies (Argentina, Brazil, Colombia and Mexico), net oil exporters (Venezuela and Ecuador), and net oil importers (Dominican Republic, El Salvador, Guyana and Honduras).

Ghana LPG Gas Sector Study

Edjekumhene, Ishmael; Atta-Owusu, Frank O.; Ampong, Charles
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
EN_US
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46.08%
This study forms part of a broader study by the Oil and Gas Policy Division(COCPO) to identify reasons for the Liquid Petroleum Gas market (LPG market)failure in some selected countries, including Ghana. It is sequel to a similar studycarried out in Nigeria in 2002. It is expected that lessons learned from the Nigeriastudy will be cautiously applied to other countries that are likely to benefit fromsimilar investigative and analytical work.The objectives of this study are to investigate and identify impediments to LPG market development in Ghana; develop a strategy for market take-off /expansion for Ghana s domestic LPG market; expand access to LPG by all, including the poor in Ghana.The target is to achieve a per capita LPG consumption equivalent to the average of other West African countries which, according to data available from a World Bank/ World LPG Association (WLPGA) study for West Africa, has been estimated tobe on the order of 3.7 kg. Another recent study, the UN Millennium Project...

Sub-Saharan Africa Refinery Project, Volume II-A : Refinery Study

World Bank
Fonte: Washington, DC Publicador: Washington, DC
EN_US
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36.25%
The Sub-Saharan Africa Refinery Study evaluates the effects of improved fuel specifications on refiningoperations and air quality in Sub-Saharan Africa (SSA). The improved fuel specifications would reduce the levels of certain pollutants in fuels, in turn reducing human exposure to these pollutants in ambient air. The health study estimates the health impacts and associated monetary benefits associated with the proposed improvements in fuel quality. The estimated monetary benefits will be compared to the costs to the refining industry associated with a change in fuel specifications, by region, as presented in Volume II,the Refinery Study

Ecuador : Diversification and Sustainable Growth in an Oil - Dependent Country

World Bank
Fonte: Washington, DC Publicador: Washington, DC
EN_US
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36.08%
Diversification is important to sustainable economic growth and economic development in an oil-dependent country like Ecuador because it allows the country to be less vulnerable to external shocks. An analysis of diversification in the Ecuadorian economy is needed at this time because (a) the growth has been sluggish despite favorable terms of trade in recent years, and (b) external and fiscal balances are highly vulnerable to shocks in oil prices. This study focuses on the general concept of diversification, including diversification of public revenues, trading partners, and production. It seeks to understand the linkages between the oil and non-oil sectors and offer recommendations on how Ecuador could frame public policy to achieve diversification.

MENA Quarterly Economic Brief, January 2015 : Plunging Oil Prices

Devarajan, Shanta; Mottaghi, Lili
Fonte: Washington, DC: World Bank Publicador: Washington, DC: World Bank
EN_US
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36.3%
This issue of the MENA Quarterly Economic Brief focuses on the implications of low oil prices for eight developing countries, or the MENA-8 (oil importers: Egypt, Tunisia, Lebanon and Jordan and oil exporters: Iran, Iraq, Yemen and Libya) and the economies of the GCC (Gulf Cooperation Council), who play a major role in providing funds in the form of aid, investment, tourism revenues and remittances to the rest of the countries of the region. We make the following assumptions about the future price of oil: (i) The price will average $65 Brent p/b in 2015; (ii) a higher price $78 Brent p/b will be used for comparison analysis. As with other economic variables, there is uncertainty associated with the future price of oil, which adds to the error involved in projections. The data for 2015 2017 in the figures and tables are projections. These projections are based on statistical information available through early January 2015.

MENA Quarterly Economic Brief : Plunging Oil Prices

Lili Mottaghi
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
EN_US
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36.01%
In the three months since most observers, including the World Bank, issued their last forecasts, the Middle East and North Africa (MENA) Region has changed substantially. Political tensions have eased somewhat with presidential and legislative elections completed in a few countries. This issue of the MENA Quarterly Economic Brief focused on the implications of low oil prices for eight developing countries, the MENA-8 (oil importers: Egypt, Tunisia, Lebanon and Jordan and oil exporters: Iran, Iraq, Yemen and Libya) and the economies of the GCC (Gulf Cooperation Council), who play a major role in providing funds in the form of aid, investment, tourism revenues and remittances to the rest of the countries of the region. Several assumptions are also made about future oil prices taking into account several variables. All projections are based on statistical information available through early January 2015.

Cote d'Ivoire - The Growth Agenda : Building on Natural Resources and Exports

World Bank
Fonte: Washington, DC Publicador: Washington, DC
Tipo: Economic & Sector Work :: General Economy, Macroeconomics and Growth Study; Economic & Sector Work
ENGLISH; EN_US
Relevância na Pesquisa
46%
Cote d'Ivoire was an economic success story in the first twenty years of independence, but a sharp reversal began in 1980 and by 1993 per capita incomes was back to the level of 1960. Devaluation of the African Financial Community (CFA) franc triggered an economic rebound, but this was soon undermined by the political crisis beginning in 1999. Just as the economy was starting to move forward, a new crisis struck in early 2011, with considerable loss of life and assets. Gross Domestic Product (GDP) growth will be significantly negative in 2011, after 30 years of almost uninterrupted decline in per capita incomes and a rise in poverty from 10 percent in 1985 to 43 percent in 2008. The country is in urgent need of rapid and inclusive growth to reduce poverty, create jobs, provide hope for a better future, and help heal the wounds in the social fabric. The report devotes some attention to two key backbone services transport and telecommunications. The transport sector facilitates exports of goods, and access to essential imports...

Peru's Downstream Natural Gas Sector : A Preliminary Assessment

Reinstein, David; Benítez, Daniel A. Benítez; Johnson, Todd M.
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Economic & Sector Work :: Energy Study; Economic & Sector Work
ENGLISH; EN_US
Relevância na Pesquisa
36.16%
This study assesses the natural gas market in Peru. In the process of evaluating the downstream market, the study identifies opportunities for meeting the Government s aspirational goals with respect to energy and natural gas development, including the efficient use of natural gas in the power and other sectors, strengthening and coordinating national energy planning for the gas sector, infrastructure development and prospects for decentralization of the natural gas market in Peru, and the potential of natural gas pricing reforms for the promotion of hydroelectricity and other renewable energy sources. This report is divided into five chapters. Chapter I describes the context in which this study was prepared. Chapter II presents a history of the natural gas sector and the Government of Peru s policy objectives to increase the use of natural gas in the domestic economy. Chapter III presents potential new markets for natural gas within the present context of the natural gas industry and the Peruvian economy. Chapter IV describes findings...

Natural Oil Companies and Value Creation : Volume 2. Case Studies

Tordo, Silvana; Tracy, Brandon S.; Arfaa, Noora
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research; Publications & Research :: Publication
ENGLISH; EN_US
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46.34%
Approximately two billion dollars a day of petroleum are traded worldwide, which makes petroleum the largest single item in the balance of payments and exchanges between nations. Petroleum represents the larger share in total energy use for most net exporters and net importers. While petroleum taxes are a major source of income for more than 90 countries in the world, poor countries net importers are more vulnerable to price increases than most industrialized economies. This paper has five chapters. Chapter one describes the key features of upstream, midstream, and downstream petroleum operations and how these may impact value creation and policy options. Chapter two draws on ample literature and discusses how changes in the geopolitical and global economic environment and in the host governments' political and economic priorities have affected the rationale for and behavior of National Oil Companies' (NOCs). Rather than providing an in-depth analysis of the philosophical reasons for creating aNOC, this chapter seeks to highlight the special nature of NOCs and how it may affect their existence...

Fuel Pricing and Subsidies in Indonesia : Reaching an Equitable and Sustainable Policy

World Bank
Fonte: Washington, DC Publicador: Washington, DC
Tipo: Economic & Sector Work :: Energy Study; Economic & Sector Work
ENGLISH; EN_US
Relevância na Pesquisa
36.25%
Indonesia is an oil producing country and is the only East Asian member of the Organization of Petroleum Exporting Countries (OPEC). Over the years, this endowment of oil resources has been steadily exploited with substantial rents flowing to the government from production and exports of crude oil. The country is also one of the world's largest exporters of another petroleum resource, liquefied natural gas. The introduction of a new oil and gas law in 2001 (the law) provides the policy and legal basis for moving away from the present ineffective and fiscally inefficient fuel pricing and subsidy regime, towards the goal of an independent, reliable, transparent, competitive, efficient, and environmentally friendly petroleum sector that encourages the growth of the national potential and role and at the same time does not exclude the Government of Indonesia (GoI) fully meeting its social responsibility towards certain community groups. Implementation towards achieving the goals set out in the Law has been slow and hesitant. The Indonesian treasury is still saddled with a rather inefficient and ineffective fuel pricing and subsidies regime. This present report identifies a way forward for Indonesia to meet the requirements of the Law. That way forward will progressively eliminate the waste inherent in the present system...

Commodity Markets Outlook, January 2015

World Bank Group
Fonte: Washington, DC Publicador: Washington, DC
Tipo: Publications & Research :: Working Paper; Publications & Research
ENGLISH; EN_US
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46.31%
Broad-based commodity price declines occurred in the second half of 2014. Crude oil prices declined the most, down 55 percent to $47 per bbl (barrel) in early January, from a high of $115 per bbl in late-June 2014, bringing an end to a four-year period of high and stable prices. The oil price drop is the third-largest seven-month decline of the past three decades - only the 67 percent drop from November 1985 to March 1986 and the 75 percent drop from July to December 2008 were larger. Agricultural, metal, and precious metal prices weakened as well, down by 6, 8, and 9 percent, respectively, in 2014 fourth quarter (Q4) from the previous quarter. Ample supplies, disappointing global growth prospects, and an appreciating Unites States (U.S.) dollar have all weighed on prices. In oil markets, a sequence of (upward) supply and (downward) demand revisions, along with organization of petroleum exporting countries (OPEC's) abandoning of supply management, have played a pivotal role in the price collapse.

Regional Gas Trade Projects in Arab Countries, Volumes 1 and 2

World Bank
Fonte: Washington, DC Publicador: Washington, DC
Tipo: Economic & Sector Work :: Mining/Oil and Gas; Economic & Sector Work
ENGLISH; EN_US
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36.38%
Arab countries hold about 29 percent of the world's proven gas reserves, but every country (except Qatar and Algeria) is short of the gas supply needed to meet its current and projected demand. The rapid growth in gas demand is mostly a consequence of a sharp increase in electricity consumption. Gas trade in the Arab world has been dominated by the objective of exporting gas in the form of liquefied natural gas (LNG) to points in Asia, Europe, and North America. Gas trade within the region is limited to rather small volumes, moved from Algeria to Tunisia and Morocco; from Egypt to Jordan, Syria, and Lebanon; and from Qatar to the United Arab Emirates (UAE) - all through pipelines. The shortage of gas in the Arab countries has become more pronounced, justifying the higher gas prices needed to secure imported gas or to encourage domestic gas production. Such changes in the landscape provide an impetus for the Arab world to optimize the region's gas resources, at least partly on the basis of meeting growing regional demand. The objective of this study is to assist the attempt by: (i) identifying the opportunities for gas trade through cross-border gas pipelines and LNG; (ii) assessing the economic and political aspects of the identified projects; (iii) presenting financing and implementation schemes that utilize the synergy between the public and private sector in project formulation and development; and (iv) reviewing the legal...

Ghana : Sector Reform and the Pattern of the Poor

Edjekumhene, Ishmael; Amaka-Otchere, Akosua B.K.; Amissah-Arthur, Harriette
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: ESMAP Paper; Publications & Research
ENGLISH; EN_US
Relevância na Pesquisa
36.2%
The overarching goal of this study, which forms part of the broader project 'Energy Use, Energy Supply, Sector Reform and the Poor', is to establish patterns in the ways poor people in Ghana are accessing and using energy and to identify how changes in the patterns, attributable to energy sector reform and accompanying technological innovations, affect the Ghanaian poor. The study will seek to achieve the following: (i) give an overview of the Ghana's energy sector; (ii) provide a description of the energy supply chain in Ghana; (iii) provide a description of household choice and use of energy in Ghana; (iv) provide a description of Ghana's energy sector reform program and give an assessment of how reform has impacted on the poor in Ghana; and (v) evaluate how energy sector reform has impacted or might impact on the choice and use of energy by the poor in Ghana.

Planning for Higher Oil Prices : Power Sector Impact in Latin America and the Caribbean

Yépez-García, Rigoberto Ariel; San Vicente Portes, Luis; García, Luis Enrique
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Economic & Sector Work :: Energy Study
ENGLISH; EN_US
Relevância na Pesquisa
46.33%
A scenario with higher oil prices has important implications for diverting from oil-based technologies to renewables, as well as gas, coal, and nuclear alternatives. By 2030, energy demand in Latin America and the Caribbean (LAC) is expected to double from 2008 levels. A key issue is deciding on the most appropriate mix of fuels for power generation, given the various prices of energy sources and technologies, as well as availability of renewable energy. The study's broad aim is to evaluate the impact of higher oil prices on the cost of generating electricity in countries of the LAC region so that better-informed energy policy planners can buffer future adverse effects. The study defines high oil prices as those above United States (U.S.) $100 per barrel. This price is considered a reasonable starting point for discussion given the recent range in oil prices, which averaged $95 a barrel in 2011. A price of $150 per barrel is defined as considerably high yet plausible given historical and current price levels...

Rethinking Electricity Tariffs and Subsidies in Pakistan

Trimble, Chris; Yoshida, Nobuo; Saqib, Mohammad
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Economic & Sector Work :: Policy Note; Economic & Sector Work
ENGLISH; EN_US
Relevância na Pesquisa
55.99%
Pakistan's electricity sector is in crisis: extended periods of blackouts persisted in 2010 and circular debt is increasing. Despite investments in generation capacity, electricity demand continues to exceed supply, with blackouts as long as 8-10 hours per day in cities and sometimes double that in rural areas, and is widely recognized as a severe obstacle to growth and poverty reduction. In November 2010, the government was forced to rent the world's largest power ship to boost generation capacity. Meanwhile, the government of Pakistan's (GOP) inability to finance its commitment to fund subsidies, inefficiencies of the sector entities including low collections, delays in determination and notifications, and increased cost of fuel imports contribute to an increasingly severe circular debt problem. The analysis shows that given the current cost of electricity supply, the March 2011 tariff structure will improve the benefit incidence of electricity subsidies for residential users and reduce fiscal burden significantly in comparison to March 2008. For example...

Black Hole or Black Gold? The Impact of Oil and Gas Prices on Indonesia's Public Finances

Agustina, Cut Dian R.D.; Arze del Granado, Javier; Bulman, Tim; Fengler, Wolfgang; Ikhsan, Mohamad
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Policy Research Working Paper; Publications & Research
ENGLISH
Relevância na Pesquisa
46.12%
Indonesia's oil revenues and fuel subsidies dominate the nation's economic policy agenda. This paper estimates the impact of higher international oil prices on the Indonesian government's fiscal position in 2008 and beyond. It analyzes the interactions between government revenues and expenditures, as well as international oil prices, energy subsidies, and inter-governmental transfers. Looking at the impact of oil prices over US$100 per barrel, the paper presents five main findings. First, despite record high oil prices, the government's oil and gas revenues have been decreasing relative to non-oil and gas revenues since 2001. Second, fuel subsides will reach record levels in 2008 while electricity subsidies have been increasing even faster. Third, the paper finds that most of the fuel subsidy that directly benefits households goes to the richest 20 percent. Fourth, even at levels above US$100 per barrel, the government receives more revenues from oil and gas than it spends on energy subsidies. However...

Dynamics of petroleum industry investment in the North Sea

Beall, Arthur Oren
Fonte: MIT Energy Lab Publicador: MIT Energy Lab
Tipo: Trabalho em Andamento Formato: 3377081 bytes; application/pdf
EN_US
Relevância na Pesquisa
36.48%
This investigation has attempted to provide acurrent estimate of the oil potential of the northern North Sea from which estimates of exploration investment, development investment, and accruing cash-flows can be derived. Current proven reserves are estimated at 29.4 billion barrels oil equivalent, of which 22.6 billion barrels are oil. Of the 59 discoveries documented, 8 can be classed as true gas accumulations. Undiscovered potential for the area of study is estimated at 24.3 billion barrels, giving a most probable ultimate recoverable reserve of 53.7 billion barrels oil equivalent. Depending on minimum commercial field size, recoverable oil reserves should vary between 33.7 and 39.2 billion barrels. Current development of 14.8 billion barrels of recoverable oil involves an estimated capital investment of $16.8 billion dollars. Peak daily production is estimated to occur in 1981 at 4.12 million barrels daily. An additional 4.6 billion barrels of recoverable oil is in various stages of evaluation and will probably be developed, yielding a total of 19.4 billion barrels of reserves and a total peak production of 4.95 million barrels per day in 1981. Capital investment is estimated at $27 billion dollars for the total. In order to develop current plus discovered plus future discoveries...

Ghana's New Oil: Cause for Jubilation or Prelude to the Resource Curse?

Kapela, Jared
Fonte: Universidade Duke Publicador: Universidade Duke
Tipo: Masters' project Formato: 537782 bytes; application/pdf
EN_US
Relevância na Pesquisa
36.49%
Ghana is a small West African nation of 23 million people. In 2007, the largest oil and gas discovery in Africa in the last decade was made by the US-based oil and gas company, Kosmos Energy, 75 miles offshore Ghana. The discovery was named the Jubilee Field and it is estimated to contain recoverable reserves of 1.8 billion barrels of oil and 800 billion cubic feet of natural gas. The phase one production rate is currently planned at 120,000 barrels of oil per day and 160,000 cubic feet of gas per day. In 2008, Ghana consumed 56,000 barrels of oil per day and only produced 7,400 barrels per day domestically, making it a net exporter of 48,600 barrels of oil daily that year. When first oil is reached with the Jubilee Field in late 2010, overnight, Ghana will become a net exporter of oil by approximately 64,000 barrels of oil daily. This transition from oil importer to oil and gas exporter will fundamentally change all facets of the economy and society within Ghana. The pending influx of Petrodollars into the government’s coffers is estimated to be $1 billion annually from the Jubilee Field alone and up to $3 billion annually when additional offshore fields begin producing between 2011 through 2015. While this drastic increase in government revenue has caused a significant amount of jubilation throughout Ghana and the petroleum industry...