“Asian premium” or “North Atlantic discount”: Does geographical diversification in oil trade always impose costs?
Author
Abstract
Suggested Citation
DOI: 10.1016/j.eneco.2017.07.005
Download full text from publisher
As the access to this document is restricted, you may want to search for a different version of it.
References listed on IDEAS
- Egging, Ruud & Holz, Franziska & Gabriel, Steven A., 2010. "The World Gas Model," Energy, Elsevier, vol. 35(10), pages 4016-4029.
- Hanif D. Sherali & Allen L. Soyster & Frederic H. Murphy, 1983. "Stackelberg-Nash-Cournot Equilibria: Characterizations and Computations," Operations Research, INFORMS, vol. 31(2), pages 253-276, April.
- Holz, Franziska & von Hirschhausen, Christian & Kemfert, Claudia, 2008.
"A strategic model of European gas supply (GASMOD),"
Energy Economics, Elsevier, vol. 30(3), pages 766-788, May.
- Franziska Holz & Christian von Hirschhausen & Claudia Kemfert, 2006. "A Strategic Model of European Gas Supply (GASMOD)," Discussion Papers of DIW Berlin 551, DIW Berlin, German Institute for Economic Research.
- Douglas G. Sauer, 1994. "Measuring Economic Markets for Imported Crude Oil," The Energy Journal, International Association for Energy Economics, vol. 0(Number 2), pages 107-124.
- Dermot Gately & Hiliard G. Huntington, 2002.
"The Asymmetric Effects of Changes in Price and Income on Energy and Oil Demand,"
The Energy Journal, International Association for Energy Economics, vol. 0(Number 1), pages 19-55.
- Dermot Gately & Hillard G. Huntington, 2002. "The Asymmetric Effects of Changes in Price and Income on Energy and Oil Demand," The Energy Journal, , vol. 23(1), pages 19-55, January.
- Egging, Rudolf G. & Gabriel, Steven A., 2006. "Examining market power in the European natural gas market," Energy Policy, Elsevier, vol. 34(17), pages 2762-2778, November.
- Hartley, Peter & Medlock III, Kenneth B., 2008. "A model of the operation and development of a National Oil Company," Energy Economics, Elsevier, vol. 30(5), pages 2459-2485, September.
- M. A. Adelman, 1984. "International Oil Agreements," The Energy Journal, International Association for Energy Economics, vol. 0(Number 3), pages 1-10.
- Ronald Soligo & Amy Myers Jaffe, 2000. "A Note on Saudi Arabian Price Discrimination," The Energy Journal, International Association for Energy Economics, vol. 0(Number 1), pages 121-133.
- Vining, Aidan R & Boardman, Anthony E, 1992. "Ownership versus Competition: Efficiency in Public Enterprise," Public Choice, Springer, vol. 73(2), pages 205-239, March.
- Weiner, R.J., 1991. "Is the World Oil Market "One Great Pool?"," Papers 9120, Laval - Recherche en Energie.
- Robert J. Weiner, 1991. "Is the World Oil Market "One Great Pool"?," The Energy Journal, International Association for Energy Economics, vol. 0(Number 3), pages 95-108.
- António Afonso & Ludger Schuknecht & Vito Tanzi, 2005.
"Public sector efficiency: An international comparison,"
Public Choice, Springer, vol. 123(3), pages 321-347, June.
- Schuknecht, Ludger & Tanzi, Vito & Afonso, António, 2003. "Public sector efficiency: an international comparison," Working Paper Series 242, European Central Bank.
- Maroeska G. Boots, Fieke A.M. Rijkers and Benjamin F. Hobbs, 2004. "Trading in the Downstream European Gas Market: A Successive Oligopoly Approach," The Energy Journal, International Association for Energy Economics, vol. 0(Number 3), pages 73-102.
- Daniel Huppmann and Franziska Holz, 2012. "Crude Oil Market Power—A Shift in Recent Years?," The Energy Journal, International Association for Energy Economics, vol. 0(Number 4).
- Clemens Haftendorn & Franziska Holz, 2010. "Modeling and Analysis of the International Steam Coal Trade," The Energy Journal, International Association for Energy Economics, vol. 0(Number 4), pages 205-230.
- John C.B. Cooper, 2003. "Price elasticity of demand for crude oil: estimates for 23 countries," OPEC Energy Review, Organization of the Petroleum Exporting Countries, vol. 27(1), pages 1-8, March.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Yang, Chen & Lv, Fei & Fang, Libing & Shang, Xingxing, 2020. "The pricing efficiency of crude oil futures in the Shanghai International Exchange," Finance Research Letters, Elsevier, vol. 36(C).
- Wei, Yu & Zhang, Yaojie & Wang, Yudong, 2022. "Information connectedness of international crude oil futures: Evidence from SC, WTI, and Brent," International Review of Financial Analysis, Elsevier, vol. 81(C).
- Long, Houyin & Huang, Xiang & Wang, Jiaxin, 2023. "How does energy finance promote energy transition? Evidence from Shanghai crude oil futures," International Review of Financial Analysis, Elsevier, vol. 90(C).
- Hu, Genhua & Jiang, Haifeng, 2023. "Time-varying jumps in China crude oil futures market impacted by COVID-19 pandemic," Resources Policy, Elsevier, vol. 82(C).
- Jayson Beckman & Getachew Nigatu, 2021. "Do Political Factors Influence U.S. Crude Oil Imports?," International Journal of Energy Economics and Policy, Econjournals, vol. 11(4), pages 288-297.
- Ji, Qiang & Zhang, Hai-Ying & Zhang, Dayong, 2019. "The impact of OPEC on East Asian oil import security: A multidimensional analysis," Energy Policy, Elsevier, vol. 126(C), pages 99-107.
- Ji, Qiang & Zhang, Dayong, 2019. "China’s crude oil futures: Introduction and some stylized facts," Finance Research Letters, Elsevier, vol. 28(C), pages 376-380.
- Huang, Wenyang & Gao, Tianxiao & Hao, Yun & Wang, Xiuqing, 2023. "Transformer-based forecasting for intraday trading in the Shanghai crude oil market: Analyzing open-high-low-close prices," Energy Economics, Elsevier, vol. 127(PA).
- He, Feng & Chen, Longxuan & Hao, Jing & Wu, Ji, 2024. "Financial market development and corporate risk management: Evidence from Shanghai crude oil futures launched in China," Energy Economics, Elsevier, vol. 129(C).
- Toma, Pierluigi & Frittelli, Massimo & Apergis, Nicholas, 2023. "The economic sustainability of optimizing feedstock imports with environmental constraints," Socio-Economic Planning Sciences, Elsevier, vol. 87(PB).
- Zou, Mi & Han, Lin & Yang, Zhini, 2024. "Price discovery of the Chinese crude oil options and futures markets," Finance Research Letters, Elsevier, vol. 60(C).
- Durand-Lasserve, Olivier & Pierru, Axel, 2021. "Modeling world oil market questions: An economic perspective," Energy Policy, Elsevier, vol. 159(C).
- Maria Ghani & Feng Ma & Dengshi Huang, 2024. "Forecasting the Asian stock market volatility: Evidence from WTI and INE oil futures," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 29(2), pages 1496-1512, April.
- Wang, Jianli & Qiu, Shushu & Yick, Ho Yin, 2022. "The influence of the Shanghai crude oil futures on the global and domestic oil markets," Energy, Elsevier, vol. 245(C).
- Liu, Min & Lee, Chien-Chiang, 2021. "Capturing the dynamics of the China crude oil futures: Markov switching, co-movement, and volatility forecasting," Energy Economics, Elsevier, vol. 103(C).
- Zhang, Jing, 2019. "Oil and gas trade between China and countries and regions along the ‘Belt and Road’: A panoramic perspective," Energy Policy, Elsevier, vol. 129(C), pages 1111-1120.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Egging-Bratseth, Ruud & Baltensperger, Tobias & Tomasgard, Asgeir, 2020. "Solving oligopolistic equilibrium problems with convex optimization," European Journal of Operational Research, Elsevier, vol. 284(1), pages 44-52.
- Daniel Huppmann and Franziska Holz, 2012. "Crude Oil Market Power—A Shift in Recent Years?," The Energy Journal, International Association for Energy Economics, vol. 0(Number 4).
- Lorenczik, Stefan & Panke, Timo, 2016. "Assessing market structures in resource markets — An empirical analysis of the market for metallurgical coal using various equilibrium models," Energy Economics, Elsevier, vol. 59(C), pages 179-187.
- Mel Devine & James Gleeson & John Kinsella & David Ramsey, 2014. "A Rolling Optimisation Model of the UK Natural Gas Market," Networks and Spatial Economics, Springer, vol. 14(2), pages 209-244, June.
- Ibrahim Abada, 2012. "A stochastic generalized Nash-Cournot model for the northwestern European natural gas markets with a fuel substitution demand function: The S-GaMMES model," Working Papers 1202, Chaire Economie du climat.
- Adrienn Selei & Borbála Tóth & Gustav Resch & László Szabó & Lukas Liebmann & Péter Kaderják, 2017. "How far is mitigation of Russian gas dependency possible through energy efficiency and renewable policies assuming different gas market structures?," Energy & Environment, , vol. 28(1-2), pages 54-69, March.
- Selei, Adrienn & Takácsné Tóth, Borbála, 2022. "A modelling-based assessment of EU supported natural gas projects of common interest," Energy Policy, Elsevier, vol. 166(C).
- Leiby, Paul N. & Rubin, Jonathan, 2013. "Energy security implications of a national low carbon fuel standard," Energy Policy, Elsevier, vol. 56(C), pages 29-40.
- Guo, Yingjian & Hawkes, Adam, 2019. "Asset stranding in natural gas export facilities: An agent-based simulation," Energy Policy, Elsevier, vol. 132(C), pages 132-155.
- Li, Raymond & Leung, Guy C.K., 2011. "The integration of China into the world crude oil market since 1998," Energy Policy, Elsevier, vol. 39(9), pages 5159-5166, September.
- Christian Growitsch & Harald Hecking & Timo Panke, 2014.
"Supply Disruptions and Regional Price Effects in a Spatial Oligopoly—An Application to the Global Gas Market,"
Review of International Economics, Wiley Blackwell, vol. 22(5), pages 944-975, November.
- Growitsch, Christian & Hecking, Harald & Panke, Timo, 2013. "Supply disruptions and regional price effects in a spatial oligopoly - an application to the global gas market," EWI Working Papers 2013-8, Energiewirtschaftliches Institut an der Universitaet zu Koeln (EWI).
- Holz, Franziska & Richter, Philipp M. & Egging, Ruud, 2016.
"The Role of Natural Gas in a Low-Carbon Europe: Infrastructure and Supply Security,"
EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 37(SI37), pages 33-59.
- Franziska Holz & Philipp M. Richter & Ruud Egging, 2016. "The Role of Natural Gas in a Low-Carbon Europe: Infrastructure and Supply Security," The Energy Journal, , vol. 37(3_suppl), pages 33-60, December.
- Franziska Holz, Philipp M. Richter, and Ruud Egging, 2016. "The Role of Natural Gas in a Low-Carbon Europe: Infrastructure and Supply Security," The Energy Journal, International Association for Energy Economics, vol. 0(Sustainab).
- Feijoo, Felipe & Huppmann, Daniel & Sakiyama, Larissa & Siddiqui, Sauleh, 2016.
"North American natural gas model: Impact of cross-border trade with Mexico,"
Energy, Elsevier, vol. 112(C), pages 1084-1095.
- Felipe Feijoo & Daniel Huppmann & Larissa Sakiyama & Sauleh Siddiqui, 2016. "North American Natural Gas Model Impact of Cross-Border Trade with Mexico," Discussion Papers of DIW Berlin 1553, DIW Berlin, German Institute for Economic Research.
- Ibrahim Abada & Steven Gabriel & Vincent Briat & Olivier Massol, 2013.
"A Generalized Nash–Cournot Model for the Northwestern European Natural Gas Markets with a Fuel Substitution Demand Function: The GaMMES Model,"
Networks and Spatial Economics, Springer, vol. 13(1), pages 1-42, March.
- Ibrahim Abada & Vincent Briat & Steve A. Gabriel & Olivier Massol, 2011. "A Generalized Nash-Cournot Model for the North-Western European Natural Gas Markets with a Fuel SubstitutionDemand Function: The GaMMES Model," EconomiX Working Papers 2011-8, University of Paris Nanterre, EconomiX.
- Ibrahim Abada & Vincent Briat & Steve A. Gabriel & Olivier Massol, 2011. "A Generalized Nash-Cournot Model for the North-Western European Natural Gas Markets with a Fuel Substitution Demand Function: The GaMMES Model," Working Papers hal-04141011, HAL.
- Abada, Ibrahim & Briat, Vincent & Massol, Olivier, 2013.
"Construction of a fuel demand function portraying interfuel substitution, a system dynamics approach,"
Energy, Elsevier, vol. 49(C), pages 240-251.
- Ibrahim Abada & Vincent Briat & Olivier Massol, 2011. "Construction of a fuel demand function portraying interfuel substitution, a system dynamics approach," Working Papers hal-04141001, HAL.
- Ibrahim Abada & Vincent Briat & Olivier Massol, 2011. "Construction of a fuel demand function portraying interfuel substitution, a system dynamics approach," Working Papers hal-02472342, HAL.
- Ibrahim Abada & Vincent Briat & Olivier Massol, 2011. "Construction of a fuel demand function portraying interfuel substitution, a system dynamics approach," EconomiX Working Papers 2011-13, University of Paris Nanterre, EconomiX.
- Gong, Chengzhu & Wu, Desheng & Gong, Nianjiao & Qi, Rui, 2020. "Multi-agent mixed complementary simulation of natural gas upstream market liberalization in China," Energy, Elsevier, vol. 200(C).
- Kaufmann, Robert K. & Banerjee, Shayan, 2014. "A unified world oil market: Regions in physical, economic, geographic, and political space," Energy Policy, Elsevier, vol. 74(C), pages 235-242.
- Atanu Ghoshray and Tatiana Trifonova, 2014.
"Dynamic Adjustment of Crude Oil Price Spreads,"
The Energy Journal, International Association for Energy Economics, vol. 0(Number 1).
- Atanu Ghoshray & Tatiana Trifonova, 2014. "Dynamic Adjustment of Crude Oil Price Spreads," The Energy Journal, , vol. 35(1), pages 119-139, January.
- Chyong, Chi Kong & Hobbs, Benjamin F., 2014. "Strategic Eurasian natural gas market model for energy security and policy analysis: Formulation and application to South Stream," Energy Economics, Elsevier, vol. 44(C), pages 198-211.
- An, Sufang & Gao, Xiangyun & An, Haizhong & An, Feng & Sun, Qingru & Liu, Siyao, 2020. "Windowed volatility spillover effects among crude oil prices," Energy, Elsevier, vol. 200(C).
More about this item
Keywords
Asian premium; Stackelberg game; MPEC; Oil market modeling; Oil trade flows;All these keywords.
JEL classification:
- L1 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance
- L2 - Industrial Organization - - Firm Objectives, Organization, and Behavior
- L71 - Industrial Organization - - Industry Studies: Primary Products and Construction - - - Mining, Extraction, and Refining: Hydrocarbon Fuels
- Q4 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy
- Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
- C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
- C62 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Existence and Stability Conditions of Equilibrium
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:eneeco:v:66:y:2017:i:c:p:411-420. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/eneco .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.