oil sector is the most effective sector in these countries. oil is the most important product that world industries use as the cheapest energy. the price of oil depends on the world’s supply and demand and many economic, political and geographical variables. this is the reason why the price of oil has fluctuations. the fluctuations in oil price lead to fluctuate in the oil revenues of the membe...

This paper investigates the existence of ownership effects in the global oil and gas industry, i.e. whether there are systematic performance and efficiency differentials between National Oil Companies (NOCs) and privately-owned International Oil Companies (IOCs). The dataset, which is based on a survey published by Energy Intelligence and covers 1,001 firm observation years in the period 1987 t...

Internet of Things (IoT) seems a viable way to enable the Smart Cities of the future. iNUIT (Internet of Things for Urban Innovation) is a multi-year research program that aims to create an ecosystem that exploits the variety of data coming from multiple sensors and connected objects installed on the scale of a city, in order to meet specific needs in terms of development of new services (physi...

According to “Hotelling rule” price of an “exhaustible resource” exceeds its marginal cost of production in perfect competition equilibrium by amount equal to the opportunity cost of depleting the resource now rather than next periods. This cost is called “scarcity rent”. Oil price exceeds its marginal extraction costs significantly. This can be attributed two different sources: effect of scarc...

The relationship between oil reserves and oil extraction has recently become of interest to research community. Current empirical literature lacks an identification strategy that addresses endogeneity problem. This study takes advantage of (arguably) exogenous reserves discoveries to identify the effect of size of reserves on oil production. Our findings show that although in general oil produc...