Oil, Gas and Energy Financing

Erscheinungsjahr 2011
ISBN: 978-1-84374-881-6
Verlag: Euromoney

Buch, Englisch, 182 Seiten

Moving from oil letters of credit to Product Sharing Agreements and hedging tactics, every case study, flow chart and example is real and drawn from the author's 25 years spent in banking in and for the Middle East, Africa and FSU countries. From husk-generated sales, electricity grids and renewable energy sources to hydrocarbons and hedging Uranium, this book deals with: A Pre Shipment Finance Models and Examples A Nuclear Power in the Emerging Markets A Country Risk of Oil Producing Countries and Political Risk Insurance A Back-to-Back Letters of Credit, Guarantees, Forfaiting and all Financial Products A Trader Financing Issues and how to avoid the 'Joker Brokers' A Hydro-Power Projects A Practical solutions in Azerbaijan, Algeria, Ghana, Cambodia, Turkey, The Falklands, India, Ecuador, Uganda, Kazakhstan among many, many others. This global book will appeal to all involved in financing in and for the emerging markets.

Zielgruppe

A must-have for bankers, traders, financiers and producers, up-stream and downstream.

Autoren/Hrsg.

Palmer, Howard

Fachgebiete

• Wirtschaftswissenschaften Finanzsektor & Finanzdienstleistungen Finanzsektor & Finanzdienstleistungen: Allgemeines
• Wirtschaftswissenschaften Finanzsektor & Finanzdienstleistungen Bankwirtschaft
• Wirtschaftswissenschaften Finanzsektor & Finanzdienstleistungen Börse, Rohstoffe
• Wirtschaftswissenschaften Finanzsektor & Finanzdienstleistungen Unternehmensfinanzierung
• Wirtschaftswissenschaften Betriebswirtschaft Unternehmensfinanzen Finanzierung, Investition, Leasing
• Wirtschaftswissenschaften Wirtschaftssektoren & Branchen Energie- & Versorgungswirtschaft Öl- und Gasindustrie

Inhaltsverzeichnis

An overview The special nature of energy and hydrocarbon products An analytical view of oil prices Oil and gas sovereign risk Special uses of traditional financing instruments Being reimbursed in oil The utilisation of oil Letters of Credit A risk appraisal of a Letter of Credit. Who takes the most risk? Standby and deferred payment oil Letter of Credit mechanics Discounting Letters of Credit Red Clause Letters of Credit and using Letters of Credit for pre-shipment finance. The utilisation of control clauses Back to back financing The mechanics of back to back oil Letters of Credit Securities and pitfalls Practical, structured energy financing Finance contracts with traders Oil tolling financing dissected and risks analysed Utilising the secondary markets The Chinese model The real forfaiting markets (Turkish importer - Azerbaijani exporter) Calculating discount rates High-political risk: oil refinery construction buyback (Ecuador) Drinking at the 'Last Chance' saloon Oil for planes: a pragmatic and structured pre-finance alternative to barter An escrow account: tips for the faint-hearted The reality of oil contract procedures Stages of finance The guarantee, its uses and abuses Avoiding 'joker brokers' Classic back to front standby frauds The red flags Project structures and product sharing agreements The PSA model, its uses and risk factors Expenditures under a contemporary PSA The calculations Oil and energy political risk insurance What is political risk? Political risk: scientific versus market analysis Pricing country risk What are the real macro-risks in oil and energy PRI? What are the real micro-risks in oil and energy PRI and how to manage them? An econometric analysis of two hydrocarbon producing nations: a step-by-step approach to creating a country-lending matrix Bank and country risk: the grid Phase 1 The financial factors Step 1 Outstanding debt service Step 2 Debt service ratio Step 3 Liquidity gap ratio Step 4 Current account deficit (CAD) as a percentage of GNP Step 5 Visible import coverage (VIC) Phase 2(A) Structural/economic factors - Uzbekistan Systemic risk quality of banking system Phase 2(B) Economic scoring grid Uzbekistan - political risk scoring matrix Final score and categorisation Algeria - a quick econometric analysis model for medium term lending The political risk story of oil Hedging with futures and OTC options, swaps and derivatives The crude oil futures contract Crude oil options Swaps and swaptions Derivatives risk Tripartite margin call, a common speculative issue Paper barrels, non-physical oil 10 Strategic, structured, oil financing 105 Securitisation the ultimate risk mitigator (Cambodia) 105 Structured export notes 107 11 Nuclear power in emerging market countries 109 Overview and profile of uranium production and nuclear power in the emerging markets 109 The cost of electricity generation by nuclear power 110 Financing models for nuclear generation plants 111 Specific nuclear power risks 114 Uranium, supply, demand and option case study - going long and repairing 115 12 Financing husk power and ethanol 117 The problems of private funding 117 Ethanol financing: the stages of financial input 118 Financial exposure to ethanol financing 121 Appendix I 123 Fitch Ratings - IndoCoal Exports (Cayman) Limited series 2005-1 special export note report. Future flow/Indonesia presale report 123 Appendix II 141 Behre Dolbear Group Inc 2010 ranking 141