Petro Economics Book

A sound knowledge of different facets of petro-economics is a sine quo non-particularly for the petro-chemica! Sectors dealing with exploration, development, production, refining, transportation, storage and marketing of oil, natural gas and a wide range of petro-products. Evolution and application of the concept of petro-economics, following the first-ever major ‘oil shock’ in the early 1970s has gained strategic significance and tremendous momentum from the first decade of the 21st century on the following grounds:  Emerging need for integration of national energy security with global energy security environment; Growing concern for safeguarding dwindling strategic oil and natural gas reserves to cater to the growing economy in the developing world (particularly the BRIC nations} with much greater projected future demand for oil and natural gas;  Segmentation of the global oil and natural gas market on a geopolitical basis, compounded by the overwhelming ramifications of regional economic unions;  Price structuring, rationalization/parity, and attendant accounting problems of oil and natural gas in terms of upstream, midstream, downstream, marketing/retailing activities associated with crudes, refined oil and natural gas (including LNG, CNG) products;   Benchmarking the quality standards of petro-products with branding and customization for reaching out to the global market; and (vi). Need for activating reforms process to allow free flow of petro-products and services in the hyper-competitive global market.