Global S&T Development Trend Analysis Platform of Resources and Environment
DOI | 10.1016/j.enpol.2016.10.004 |
Pro-cyclical petroleum investments and cost overruns in Norway | |
Dahl, Roy Endre; Lorentzen, Sindre; Oglend, Atle; Osmundsen, Petter | |
2017 | |
发表期刊 | ENERGY POLICY
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ISSN | 0301-4215 |
EISSN | 1873-6777 |
出版年 | 2017 |
卷号 | 100 |
文章类型 | Article |
语种 | 英语 |
国家 | Norway |
英文摘要 | Development projects in the oil industry often have cost overruns. Through analysis of data from Norwegian development projects in the petroleum industry, this paper investigates the common effect of business cycle developments on cost overruns. Lack of capacity and expertise in a tight supplier market yield cost inflation and difficulties in managing projects. Unlike previous analyses of cost overruns, we analyze projects over a long time period to capture the cyclical effects. We document a statistically significant positive relationship between oil price developments and cost overruns, and a positive relationship between changes in number of employees in the sector and cost overruns. We also show that surprises to the oil price during the project implementation having a larger impact on cost overruns than the oil price level itself. Cost overrun ultimately leads to reduced competitiveness for the industry, and we discuss consequences and policy implications for business and society of these cost overruns. |
英文关键词 | Cost overruns Petroleum projects Business cycle Oil price |
领域 | 气候变化 |
收录类别 | SCI-E ; SSCI |
WOS记录号 | WOS:000391903900008 |
WOS关键词 | OIL ; EXPLORATION ; SCENARIOS ; POLICY ; PRICE |
WOS类目 | Economics ; Energy & Fuels ; Environmental Sciences ; Environmental Studies |
WOS研究方向 | Business & Economics ; Energy & Fuels ; Environmental Sciences & Ecology |
引用统计 | |
文献类型 | 期刊论文 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/18879 |
专题 | 气候变化 |
作者单位 | Univ Stavanger, N-4036 Stavanger, Norway |
推荐引用方式 GB/T 7714 | Dahl, Roy Endre,Lorentzen, Sindre,Oglend, Atle,et al. Pro-cyclical petroleum investments and cost overruns in Norway[J]. ENERGY POLICY,2017,100. |
APA | Dahl, Roy Endre,Lorentzen, Sindre,Oglend, Atle,&Osmundsen, Petter.(2017).Pro-cyclical petroleum investments and cost overruns in Norway.ENERGY POLICY,100. |
MLA | Dahl, Roy Endre,et al."Pro-cyclical petroleum investments and cost overruns in Norway".ENERGY POLICY 100(2017). |
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