بررسي اثر نوسان قيمت نفت خام بر دريافتي طرفين قراردادهاي نفتي

A Case Study of the Impact of Oil Price Volatility on Benefits Derived by Parties to Oil Contracts

Oil prices increased in a marked manner between 2000 and 2008, from $27.6 to $140 per barrel, demonstrating high price volatility. The increase in International oil prices has led to greater attention to differences amongst various forms of oil contracts, notably between production sharing and buy back arrangements. Many researchers have investigated and compared different contract modalities in terms of distribution of benefits between host governments and contracting companies. The current study poses a different question and seeks to find out which contract modality would be preferred by host governments and international oil companies, based on their respective expectations of future oil prices. This study undertakes a comparative assessment of various contracts for upstream oil operations, particularly the production sharing and buy back arrangements from the perspective of division of receipts between international oil companies and host governments. The study further investigates how different price trends influence these respective shares. JEL Classification: K12, L24, Q41.