Scandinavian Working Papers in Economics

UiS Working Papers in Economics and Finance,
University of Stavanger

No 2014/19: Estimating fluctuations in oil and gas investment

Roy A Dahl and Petter Osmundsen ()
Additional contact information
Roy A Dahl: UiS, Postal: University of Stavanger, NO-4036 Stavanger, Norway
Petter Osmundsen: UiS, Postal: University of Stavanger, NO-4036 Stavanger, Norway

Abstract: Governments in extraction countries are anxious to estimate expected investment in development projects, since they represent an essential element of the macro economy. The overall level of activity is also crucial to oil companies, since the macro picture affects cost levels, the supplies market and recruitment opportunities. The paper outlines factors that explain fluctuations in investment in petroleum projects on the Norwegian continental shelf.

Keywords: oil industry; cost overruns; megaprojects; business cycles

JEL-codes: E32; F21; L71; M21

14 pages, October 9, 2014

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uis_wps_2014_19_dahl_osmundsen.pdf PDF-file

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