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Oil as energy source
Maršík, Jaroslav ; Hrnčířová, Michaela (referee) ; Pospíšil, Jiří (advisor)
This bachelor’s thesis should give a complex overview about petroleum. The thesis is addressed especially for general public. It is divided into six parts; the first part describes a general introduction into how and where oil arises and what basic types exist. The second part focuses on oilfields; from their discovery through oil wells and their construction to extraction of oil. The third part deals with modes of transport and storage; so it was summed up in the topic The oil logistic. The fourth part describes an oil use, which we understand as an energy source. The fifth part summarizes the present meaning of oil and what oil is able to cause. And the last part is about oil future supplemented by the own comment.
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The influence of crude oil price fluctuations on macroeconomic stability in Nigeria
Onome, Nelson
The primary aim of this study is to evaluate the influence of crude oil price fluctuations on macroeconomic stability in Nigeria. The paramount importance of oil in the economic landscape of Nigeria cannot be overstated. Although numerous researchers have conducted studies on the correlation between oil prices and various macroeconomic variables, their outcomes have proven to be debatable and limited to specific countries. The current study's literature review and methodology serve to elucidate these perspectives. Secondary time series data was employed in an Autoregressive distributed Lag Model analysis. Our study revealed that variations in oil prices exert a considerable impact on Nigeria's actual Gross Domestic Product (GDP), unemployment rates, and rates of inflation. Adverse perturbations in the global petroleum market bear noteworthy ramifications on price undulations. The Nigerian economy is characterized by a marked increase in imports, which has unavoidably led to the amplification of inflationary pressures. A noteworthy reduction has been observed in government revenues and expenditures. It is advised that to attain sustainable development in Nigeria, a diversification of the economy and energy sources be pursued. The findings of this study also indicate that unstable oil prices have diverse degrees of detrimental impact on exchange rate fluctuation, inflation, unemployment, and real GDP. Based on the empirical evidence obtained from the conducted study, it is our scholarly recommendation that the nation ought to diversify its income streams. This would serve to mitigate the impact of perturbations in oil prices on the vulnerability of economic conditions. The reduction in undulating oil prices has highlighted the need for Nigeria's economy to explore alternative sources of revenue to minimize the over-reliance on crude oil exports. Avenues of focus for serious policy implementation include the reformation of the agricultural sector, industrial policy strategies, as well as critical investments in mining and mineral development. Such diversification endeavors can potentially drive the nation's economic growth trajectory in the long term. The implementation of this approach is anticipated to facilitate the attainment of sustainable growth and development in Nigeria.
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Stock Price Sensitivity of European Oil Companies to Oil Prices
Martinek, Tomáš ; Pošta, Vít (advisor) ; Hořejší, Bronislava (referee)
The aim of this thesis is to investigate stock price sensitivity of 50 European companies to oil price changes using panel data analysis. Besides that, this Thesis compares sensitivities of different groups of companies. The first comparison is between Eastern and Western European companies. The second comparison is between different segments of the oil industry. Specifically, Upstream, Midstream, Downstream segment and integrated oil companies. The main finding of this thesis is that there is a positive dependence between oil price and stock prices of European oil companies. Moreover, there is a significant difference between sensitivity of Upstream and integrated companies. However, no significant difference in sensitivity of western and eastern European comapnies was found.
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Impact of changes in crude oil prices on world economy
Bulan, Tomáš ; Pavelka, Tomáš (advisor) ; Rusmichová, Lada (referee)
In a theoretical part, there is a crude oil description from the historical point of view, information about the first use of crude oil and about its creation. There are extracts about crude oil separation, extraction, and about places where crude oil can be found. The crude oil market and the price development is charakterized here too. Practical part of the bachelor´s thesis is focused on finding an influence of price changing to world economy, respectively to importers and exporters GDP. This influention is investigated with correlation and graphic analysis. In the end of the bachelor´s thesis, there is a charakteristics of the crude oil market.
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The Macroeconomic Impacts of the Selected Oil Shocks in the United States of America
Šikulová, Markéta ; Johnson, Zdenka (advisor) ; Tajovský, Ladislav (referee)
The aim of this study is to analyze macroeconomic impacts of four selected oil shocks on the United States economy and their subsequent comparison. The first part of this study deals with the theoretical background of supply shock, its influence on the economy, and the possible responses of economic policy. Furthermore, in the first part I focus on the historical events that led to the oil crisis, specifically on the OPEC oil embargo imposed on the United States, production cuts caused by the Iranian revolution, Iran-Iraq War and Persian Gulf War and on the demand as well as the supply factors that led to the oil shock of 2007-2008. The second part of this study presents the specific impacts of four selected oil shocks on the US economy and their comparison. Based on the findings, it was possible to confirm the hypothesis saying that past oil shocks, especially those that took place in the 1970's, had more negative impacts on the United States economy in comparison with those that happened more recently. In other words, that the effects of changes in oil prices have lessened over time. There are many reasons of this moderation, but the most important ones include more effective monetary policy response, the decrease in wage rigidities, and more recently also the decline of United States dependency on imported oil.
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Speculation on oil markets and its impact on commodity's price
Melcher, Ota ; Taušer, Josef (advisor) ; Baláž, Peter (referee) ; Müller, Štěpán (referee)
This study aims to analyse the precrisis period on the oil markets with a primary objective of assessing the role of speculation in the commodity's price development and its volatility. First it depicts the rapidly increasing speculative activity on the futures market together with the parallel oil price surge. The speculation is initially proxied by non-commercial traders' positions and subsequently quantified by Working's T-index. The paper then uses speculative traders' positions and both spot and futures prices to test for Granger causality within the framework of VAR models. For the sake of consistency it also evaluates causal links between speculation and inventories level. Further the study investigates the speculation impact on volatility of oil prices by employing various approaches in volatility quantification including GARCH models. Contrary to expectations we find that the speculatio's impact on both prices and their volatility is rather insignificant. In the last chapter we therefore seek for an explanation of the oil price developments by examining the market fundamentals. The interaction of supply and demand finally gives substantial evidence for understanding the price developments in the precrisis period.
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Oil as energy source
Maršík, Jaroslav ; Hrnčířová, Michaela (referee) ; Pospíšil, Jiří (advisor)
This bachelor’s thesis should give a complex overview about petroleum. The thesis is addressed especially for general public. It is divided into six parts; the first part describes a general introduction into how and where oil arises and what basic types exist. The second part focuses on oilfields; from their discovery through oil wells and their construction to extraction of oil. The third part deals with modes of transport and storage; so it was summed up in the topic The oil logistic. The fourth part describes an oil use, which we understand as an energy source. The fifth part summarizes the present meaning of oil and what oil is able to cause. And the last part is about oil future supplemented by the own comment.
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Global terrorism and its impact on oil trading
Paulíková, Kristýna ; Vošta, Milan (advisor) ; Machytka, Daniel (referee)
The goal of this thesis is to describe the theory of international relations, terrorism and the influence of terrorism on the international trade with oil. Three terrorist attacks were chosen for the purpose of this thesis: the September 11th, 2001 attacks in the United States, the Madrid bombings on March 11th, 2004 and the London bombings of July 7th, 2005. This thesis analyzes the influence of each of the attacks on oil prices and oil trade in the countries affected by these attacks.
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Russian position in the international trade and its influence on real economy
Abdullin, Denis ; Štěrbová, Ludmila (advisor) ; Bolotov, Ilya (referee)
International trade and competitiveness of domestic producers on the international market are very important factors for a further economic development. Country's trade structure determines its resistance to external shocks, which threaten domestic economy. Diversification gains a lot in importance lately. The existence of more industries, which are able to withstand tough competition with foreign firms is a cornerstone of economic development. Diversification is a key determinant for Russian economy due to a greater dependency on the export of raw materials, especially crude oil. These macroeconomic links can be shown by different econometric tools. Problems with excessive dependency on oil export can be detected by means of empiric analysis.
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The current problems at the global oil market
Tušková, Barbora ; Gullová, Soňa (advisor) ; Klosová, Anna (referee)
The topic of this bachelor thesis is an analysis of the current problems at the global oil market. The thesis is divided into three chapters. The first chapter provides general information related to oil (origin, production, transportation, the largest oil companies, OPEC). The main part of the thesis is devoted to the actual analysis of problems at the oil market. The work is primarily focused on the rising price of oil and the factors that push the price up, also on the change in the oil resources, on wars and unrests in the mining areas and, finally, on the environment. The last chapter discusses the possible oil alternatives for the future.
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