Foundations of Energy Risk Management (eBook, PDF)

An Overview of the Energy Sector and Its Physical and Financial Markets

• Format: PDF

Produktbeschreibung

GARP's Fundamentals of Energy Risk Management introduces investors to the basic components and some of the basic terminology used in the energy industry. It covers the commodity cycle, energy use and sources, and various risk types, various energy products and the markets where energy is traded. It also introduces certain risk management fundamentals and real option thinking. The book is GARP's required text used by risk professionals looking to obtain their Certificate in Energy Risk Management.

Produktdetails

• Verlag: John Wiley & Sons
• Seitenzahl: 140
• Erscheinungstermin: 23. Dezember 2008
• Englisch
• ISBN-13: 9780470447819
• Artikelnr.: 37292431

Autorenporträt

The Global Association of Risk Professionals (GARP) is a not-for-profit association consisting of 74,890 individuals around the world who are involved in financial risk management. Members come from more than 100 countries and work in regional and global banks, asset management firms, insurance companies, central banks, securities regulators, hedge funds, universities, large industrial corporations and multinationals.

Inhaltsangabe

Introduction vii Garp's Certificate in Energy Risk Management ix Garp's Foundations of Energy Risk Management Course Specification xi Syllabus and Learning Outcomes xi User Guide xii Chapter 1: The Energy Cycle 1 1.1 Introduction 1 1.2 Exploration 3 1.3 Production or Extraction 4 1.4 Processing 6 1.5 Transportation and Storage 7 1.6 Refining 8 1.7 Distribution 8 1.8 Integrated and Specialty Companies 9 Chapter 2: Risks in the Energy Cycle 13 2.1 Overview 13 2.2 Market Risk 15 2.3 Credit Risk 15 2.4 Operational Risks 16 2.5 Liquidity Risk 19 2.6 Political and Regulatory Risk 20 2.7 Price Risk and Credit Risk 21 2.8 Integrated Vs. Specialty Companies 22 2.9 Common Risk Management Tools 23 2.10 Volatility and Energy Risk Management 24 Chapter 3: World Energy Use 27 3.1 Overview 27 3.2 Energy Intensity 30 3.3 Energy Consumption by End-Use Sector 31 Chapter 4: Major Sources of Energy 33 4.1 Overview 33 4.2 World Crude Oil 35 4.2.1 Production 35 4.2.2 Consumption 36 4.2.3 Oil Reserves 38 4.2.4 Factors Influencing World Oil Markets 40 4.2.5 Factors Influencing Crude Oil Prices 40 4.2.6 Refined Crude Oil Products 42 4.3 World Natural Gas 45 4.3.1 Production 45 4.3.2 Consumption 47 4.3.3 Natural Gas Reserves 47 4.3.4 Factors Affecting Gas Markets 50 4.3.5 Factors Affecting Natural Gas Prices 50 4.4 World LNG 51 4.4.1 Recent Developments 52 4.4.2 The LNG Market 52 4.5 Coal 53 4.5.1 Production 54 4.5.2 Reserves 55 4.5.3 Consumption 56 4.5.4 Coal to Liquid Fuels (CTL) 57 4.6 Power / Electricity 57 4.6.1 Power Generation 58 4.6.2 Basic Technical Fundamentals of Power 64 Chapter 5: The Markets for Energy Products 69 5.1 Introduction 69 5.2 The Physical Markets 70 5.2.1 Spot Markets 70 5.2.2 Crude Oil Spot Markets 71 5.2.3 Crude Oil Forward Markets 71 5.2.4 Physical Gas Markets 72 5.3 The Financial Markets 72 5.3.1 Organization of Financial Markets 73 5.3.2 Financial Derivatives 75 5.3.3 Basis Risk 80 5.3.4 Speculation, Arbitrage and Hedging 81 5.4 The Relationship Between the Physical and Financial Prices 85 5.5 Emission Trading 86 5.5.1 Emission Trading Programs 87 5.5.2 Emission Trading in the United States 87 5.5.3 Emission Trading in the European Union 88 5.5.4 Kyoto Protocol 88 Chapter 6: Real Options in the Energy Market 91 Glossary 95 Index 109 Acknowledgments 119

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Introduction. Garp's Certificate In Energy Risk Management. Garp's
Foundations Of Energy Risk Management Course Specification. Syllabus And
Learning Outcomes. User Guide. Chapter 1: The Energy Cycle. 1.1.
Introduction. 1.2. Exploration. 1.3. Production Or Extraction. 1.4.
Processing. 1.5. Transportation And Storage. 1.6. Refining. 1.7.
Distribution. 1.8. Integrated And Specialty Companies. Chapter 2: Risks In
The Energy Cycle. 2.1. Overview. 2.2. Market Risk. 2.3. Credit Risk. 2.4.
Operational Risks. 2.5. Liquidity Risk. 2.6. Political And Regulatory Risk.
2.7. Price Risk And Credit Risk. 2.8. Integrated VS. Specialty Companies.
2.9. Common Risk Management Tools. 2.10. Volatility And Energy Risk
Management. Chapter 3: World Energy Use. 3.1. Overview. 3.2. Energy
Intensity. 3.3. Energy Consumption By End-Use Sector. Chapter 4: Major
Sources Of Energy. 4.1. Overview. 4.2. World Crude Oil. 4.2.1 Production.
4.2.2 Consumption. 4.2.3 Oil Reserves. 4.2.4 Factors Influencing World Oil
Markets. 4.2.5 Factors Influencing Crude Oil Prices. 4.2.6 Refined Crude
Oil Products. 4.3. World Natural Gas. 4.3.1 Production. 4.3.2 Consumption.
4.3.3 Natural Gas Reserves. 4.3.4 Factors Affecting Gas Markets. 4.3.5
Factors Affecting Natural Gas Prices. 4.4. World LNG. 4.4.1 Recent
Developments. 4.4.2 The LNG Market. 4.5 Coal. 4.5.1 Production. 4.5.2
Reserves. 4.5.3 Consumption. 4.5.4 Coal To Liquid Fuels (CTL). 4.6. Power /
Electricity. 4.6.1 Power Generation. 4.6.2 Basic Technical Fundamentals of
Power. Chapter 5: The Markets For Energy Products. 5.1. Introduction. 5.2.
The Physical Markets. 5.2.1 Spot Markets. 5.2.2 Crude Oil Spot Markets.
5.2.3 Crude Oil Forward Markets. 5.2.4 Physical Gas Markets. 5.3. The
Financial Markets. 5.3.1 Organization Of Financial Markets. 5.3.2 Financial
Derivatives. 5.3.3 Basis Risk. 5.3.4 Speculation, Arbitrage And Hedging.
5.4. The Relationship Between The Physical And Financial Prices. 5.5.
Emission Trading 5.5.1 Emission Trading Programs. 5.5.2 Emission Trading In
The United States. 5.5.3 Emission Trading In The European Union. 5.5.4
Kyoto Protocol. Chapter 6: Real Options In The Energy Market. Glossary.
Index. Acknowledgements.