Petroleum Economics detailed syllabus for Petroleum Engineering (PE) for 2021 regulation curriculum has been taken from the Anna Universities official website and presented for the PE students. For course code, course name, number of credits for a course and other scheme related information, do visit full semester subjects post given below.
For Petroleum Engineering 5th Sem scheme and its subjects, do visit PE 5th Sem 2021 regulation scheme. For Professional Elective-III scheme and its subjects refer to PE Professional Elective-III syllabus scheme. The detailed syllabus of petroleum economics is as follows.
Course Objectives:
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Unit I
Supply and demand curves, the elasticity of supply and demand, public finance concepts such as consumer surplus, excise and export taxes. Forecasting techniques for the energy industry, including energy prices. Demand and supply for natural gas, cured oil and pipeline transportation, determinants of energy demand, energy markets, energy pricing, stability and performance of energy markets.
Unit II
The economics of investment, Discounted cash flow analysis, Cost Benefit Analyses, Internal Rate of Return, NPV, Profitability Index, Natural Monopoly theory, National competition Policy, Gas Market Regulation, taxation of the oil and gas industry, government policy and trade permits, Monte Carlo analysis, Net Back Pricing, Transfer Pricing and regulatory aspects.
Unit III
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Unit IV
Petroleum exploration and production contracts. Sharing of the economic rent, portfolio management. Value creation, Corporate finance & return on capital, economic appraisal methods for oil filed development, reservoir model costs and calculations.
Unit V
Case studies: Economic study of an oil filed development project, petrochemical plant project, natural gas break even price, natural gas liquefaction cost, LGN transport cost, investment profitability study for a gas pipeline.
Course Outcomes:
On the completion of the course students are expected to
- Understand the concept of economics in a process plant, time value of money and cost indices.
- Able to integrate knowledge about financial statements, Depreciation and Accounting.
- Able develop economic balance for petroleum engineering equipment’s and determine the optimum cost for operation.
- Understand the basics of principles of management, types of organization and MIS.
- Understand the theory behind Work measurement technique, Production planning and elements of production control in petrochemical industry.
- Understand the concept of inventory control and the role of control charts in quality control in oil and gas industry
Text Books:
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Reference Books:
- Petroleum Engineering Handbook. Bradely, H.B. Society of Petroleum Engineers. Richardson. Texas.
- The Encyclopedia Americana, International Edition Volume 9, Grolier Incorporated.
For detailed syllabus of all the other subjects of Petroleum Engineering 5th Sem, visit PE 5th Sem subject syllabuses for 2021 regulation.
For all Petroleum Engineering results, visit Anna University PE all semester results direct link.