Overview

storage and marketing of oil, natural gas and a wide-ranging Petro-product. Evolution and application of the concept of Petro-economics, following the first-ever major 'oil shock' in the early 197's has gained strategic significance and tremendous momentum from the first decade of the 21st century on the following grounds: (i) Emerging need for integration of National energy security with Global energy security environment; (ii) Growing concerns for safeguarding dwindling Strategic oil and natural gas reserves to cater to the growing economy in the developing world (particularly the BRIC's Nations) with much greater projected future demand for oil and natural gas; (iii) Segmentation of the global oil and natural gas market on geo-political basis, compounded by the overwhelming ramifications of regional economic unions; (iv) 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; (v) Benchmarking the quality standards of petro-products with branding and customization for reaching out the global market; (vi) Need for activating reforms process to allow free -flow of petro-products and services in the hyper-competitive global market. With this backdrop and thematic approaches in mind, the book on Petro-Economics focuses on the following cardinal aspects to suit all categories of readers: A. To develop a broad understanding about the genesis, exploration, production, refining, transportation and marketing of petroleum and natural gas- both from technological and management angles B. Familiarities in broad terms with general economic principles and accounting procedure for efficiently run and manage petro-businesses, covering major upstream, midstream and downstream activities C. Familiarities with national and global issues concerning energy securities and exposure to national policies conducive to oil and natural gas trading under deregulated market environment

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