DIFFERENTIATION OF OIL PRODUCTION BREAK-EVEN LEVEL AMONG WORLD OIL COMPANIES
نویسندگان
چکیده
The issue of modern development in the oil industry has become extremely urgent. In 2020, for first time history, exchange price crossed negative threshold, radically changing understanding economic processes industry. This paper examines consequences this stressful situation context financial stability global companies conjunction with ensuring budgetary balance resource-exporting countries. course study, factors that influence pricing market have been clarified. authors calculated break-even prices world’s largest Saudi Aramco (SAU), ExxonMobil (USA), British Petroleum (GBR), and Rosneft (RUS). An analysis fiscal shown Russia, compared to Gulf countries, a greater margin stability, since is several times lower than Iran, Iraq, Arabia. Based on assessment operating leverage companies, limit was set decline profits as result drop production. calculation target large highest level due high variable costs, approximately at same level. BP’s levels are lower. results obtained confirm need continue searching solutions optimize costs breakeven Keywords: oil, price, prime cost, factors, budget balance, market, shocks. JEL Classifications: L21, G31, Q49 DOI: https://doi.org/10.32479/ijeep.11260
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ژورنال
عنوان ژورنال: International Journal of Energy Economics and Policy
سال: 2021
ISSN: ['2146-4553']
DOI: https://doi.org/10.32479/ijeep.11260