Silvana Tordo's Books

Local Content Policies in the Oil and Gas Sector

By: Silvana Tordo,Michael Warner,Osmel Manzano,Yahya Anouti

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Local Content Policies in the Oil and Gas Sector

By: Silvana Tordo,Michael Warner,Osmel Manzano,Yahya Anouti

A number of countries have recently discovered and are developing oil and gas reserves. Policy makers in such countries are anxious to obtain the greatest benefits for their economies from the extraction of these exhaustible resources by designing appropriate policies to achieve desired goals. One important theme of such policies is the so-called local content created by the sector—the extent to which the output of the extractive industry sector generates further benefits to the economy beyond the direct contribution of its value-added, through its links to other sectors. While local content policies have the potential to stimulate broad-based economic development, their application in petroleum-rich countries has achieved mixed results. This paper describes the policies and practices meant to foster the development of economic linkages from the petroleum sector, as adopted by a number of petroleum-producing countries both in and outside the Organisation for Economic Co-operation and Development. Examples of policy objectives, implementation tools, and reporting metrics are provided to derive lessons of wider applicability. The paper presents various conclusions for policy makers about the design of local content policies.

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197

Publisher

World Bank Publications

Published Date

ISBN 10

0821399349

ISBN 13

9780821399347

National Oil Companies and Value Creation

By: Silvana Tordo

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National Oil Companies and Value Creation

By: Silvana Tordo

National Oil Companies (NOCs) directly or indirectly control the majority of oil and gas reserves. As such, they are of great consequence to their country's economy, to importing countries' energy security, and to the stability of oil and gas markets. The paper analyzes the available evidence on the objectives, governance and performance of 20 NOCs from both net importing and net exporting countries, and draws conclusions about the design of policies and measures that are more likely to lead to social value creation. NOCs differ from private companies on a number of very important variables, including the level of competition in the market in which they operate, their business profile along the sector value chain, and their degree of commercial orientation and internationalization. Most share some core characteristics: they are usually tied to the 'national purpose' and serve political and economic goals other than maximizing the firm's profits. This paper introduces a conceptual model to analyze value creation by NOCs that takes into consideration their complex objective function. Our analysis aims to answer the following questions: Are certain corporate governance arrangements more suited than others to promote value creation? Is good geology a pre-condition for NOC value creation? Are there benefits from exposing the NOC to competition from private oil companies? Does the development of forward and backward linkages hamper NOC value creation?

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149

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World Bank Publications

Published Date

ISBN 10

0821388312

ISBN 13

9780821388310

Petroleum Exploration and Production Rights

Allocation Strategies and Design Issues

By: Silvana Tordo

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Petroleum Exploration and Production Rights

Allocation Strategies and Design Issues

By: Silvana Tordo

Many governments rely on oil companies to efficiently exploit natural resources. Governments have the challenging task of deciding which companies should be awarded exclusive rights to explore, develop, and produce their petroleum resources, and on what conditions such rights should be awarded. This paper analyzes the available evidence on the advantages and disadvantages of various systems used by petroleum-producing countries to allocate petroleum exploration, development, and production rights, and considers the policy implications of each system. The experience of six petroleum-producing countries is presented in detail, and numerous other examples are provided to derive lessons of wider applicability. The paper presents various conclusions for policy makers about the optimal design of allocation systems.

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Page Count

106

Publisher

World Bank Publications

Published Date

ISBN 10

0821381679

ISBN 13

9780821381670

Financing Solutions to Reduce Natural Gas Flaring and Methane Emissions

By: Gianni Lorenzato,Silvana Tordo,Huw Martyn Howells,Berend van den,Sebastian Sarmiento-Saher

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Financing Solutions to Reduce Natural Gas Flaring and Methane Emissions

By: Gianni Lorenzato,Silvana Tordo,Huw Martyn Howells,Berend van den,Sebastian Sarmiento-Saher

Global oil and gas emissions fell to historic lows in 2020 as a result of the decline in global demand associated with the COVID-19 (Coronavirus) pandemic. Data released by the International Energy Agency suggest that CO2 emissions are on the rise as energy demands increase after the pandemic. Whether emissions will rebound to precrisis levels largely depends on governments’ emphasis on clean energy transition in their efforts to reboot economic growth. In 2019, direct and indirect emissions from the oil and gas sector represented about 15 percent of the global energy sector’s greenhouse gas emissions. More than half of these emissions came from flaring and methane released during oil and gas operations. This book aims to create awareness of the business case for reducing gas flaring and methane emissions. It provides a framework for policy makers to evaluate the feasibility and financial attractiveness of flaring and methane reduction (FMR) projects, analyzes investment barriers, and identifies key variables and success factors, backed by lessons learned from case studies. Simplified financial modeling templates are suggested to help policy makers to assess FMR options. The book focuses on midsized flares that collectively represent 58 percent of the global flare volumes. These flares are typically too small to be prioritized by oil companies but still allow for profitable monetization. Smaller FMR projects are unlikely to be economically viable, unless clustered in larger projects or propelled by an enabling and compulsory regulatory framework. Large-scale capture projects require tailored projects, large ancillary infrastructure, government planning, and capital injections costing hundreds of millions of dollars. Although potentially attractive in terms of equity returns to developers, midsized flares face various barriers to the financing and execution of FMR solutions. Navigating these barriers requires project developers with specific FMR expertise, as highlighted through six detailed case studies discussed in this book.

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157

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World Bank Publications

Published Date

ISBN 10

1464818509

ISBN 13

9781464818509

Fiscal Systems for Hydrocarbons

Design Issues

By: Silvana Tordo

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Fiscal Systems for Hydrocarbons

Design Issues

By: Silvana Tordo

Although host governments and investors may share one common objective - the desire for projects to generate high levels off revenue - their other goals are not entirely aligned. Host governments aim to maximize rent for their country over time, while achieving other development and socioeconomic objectives. Investors aim to ensure that the return on investment is consistent with the risk associated with the project, and with their corporations' strategic objectives. To reconcile these often conflicting objectives, more and more countries rely on transparent institutional arrangements and flexible, nuetral fiscal regimes. This paper examines the key elements of the legal and fiscal frameworks utilized in the petroleum sector and aims to outline desirable features that should be considered in the design of fiscal policy with the objective of optimizing the host government's benefits, taking into account the effect this would have on the private sector's investment.

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World Bank Publications

Published Date

ISBN 10

082137267X

ISBN 13

9780821372678

Local Content Policies in the Oil and Gas Sector

By: Silvana Tordo,Michael Warner,Osmel Manzano,Yahya Anouti

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Local Content Policies in the Oil and Gas Sector

By: Silvana Tordo,Michael Warner,Osmel Manzano,Yahya Anouti

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Page Count

197

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World Bank Publications

Published Date

ISBN 10

0821399349

ISBN 13

9780821399347

National Oil Companies and Value Creation

By: Silvana Tordo

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National Oil Companies and Value Creation

By: Silvana Tordo

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Solve jigsaw puzzle

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Page Count

149

Publisher

World Bank Publications

Published Date

ISBN 10

0821388312

ISBN 13

9780821388310

Financing Solutions to Reduce Natural Gas Flaring and Methane Emissions

By: Gianni Lorenzato,Silvana Tordo,Huw Martyn Howells,Berend van den,Sebastian Sarmiento-Saher

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Financing Solutions to Reduce Natural Gas Flaring and Methane Emissions

By: Gianni Lorenzato,Silvana Tordo,Huw Martyn Howells,Berend van den,Sebastian Sarmiento-Saher

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157

Publisher

World Bank Publications

Published Date

ISBN 10

1464818509

ISBN 13

9781464818509

Fiscal Systems for Hydrocarbons

Design Issues

By: Silvana Tordo

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Fiscal Systems for Hydrocarbons

Design Issues

By: Silvana Tordo

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World Bank Publications

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ISBN 10

082137267X

ISBN 13

9780821372678

Building Resilience

A Green Growth Framework for Mobilizing Mining Investment

By: Sri Sekar,Kyle Lundin,Christopher Tucker,Joe Figueiredo,Javier Aguilar

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Building Resilience

A Green Growth Framework for Mobilizing Mining Investment

By: Sri Sekar,Kyle Lundin,Christopher Tucker,Joe Figueiredo,Javier Aguilar

A sustainable path to development has profound consequences for all economic activities and related policies. The mining industry, which provides input to almost every product and service in the world, is highly relevant to the goal of achieving sustainable development in mineral-rich countries and in the global economy. In addition, environmental sustainability is a critical concern for mining companies, whose growth is increasingly affected by climate change. Given the centrality of minerals and metals to our way of living, Building Resilience: A Green Growth Framework for Mobilizing Mining Investment investigates the extent to which the mining industry can contribute to green growth. Despite what ought to be a tight nexus of public and private interest in targeted green sector investment, this report finds that there is a misalignment between mining companies’ investment in climate-sensitive production processes, and policy makers’ efforts to develop a cohesive green economy framework for industry to navigate. The private and public sectors regard the climate agenda and the development of local economic opportunity as separate matters. Neither industry nor government have yet to effectively leverage their climate imperatives and mandates to seize green growth opportunities. To address this misalignment, this report proposes a framework to help mining companies and governments integrate climate change and local economic opportunity activities. Going further, the report offers examples of projects and policies that support green growth: particularly climate-related activities that create scalable economic value and invest in long-lasting green infrastructure.

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World Bank Publications

Published Date

ISBN 10

1464814260

ISBN 13

9781464814266

Book's by Silvana Tordo

Local Content Policies in the Oil and Gas Sector

Local Content Policies in the Oil and Gas Sector

National Oil Companies and Value Creation

National Oil Companies and Value Creation

Petroleum Exploration and Production Rights

Petroleum Exploration and Production Rights

Financing Solutions to Reduce Natural Gas Flaring and Methane Emissions

Financing Solutions to Reduce Natural Gas Flaring and Methane Emissions

Fiscal Systems for Hydrocarbons

Fiscal Systems for Hydrocarbons

Local Content Policies in the Oil and Gas Sector

Local Content Policies in the Oil and Gas Sector

National Oil Companies and Value Creation

National Oil Companies and Value Creation

Financing Solutions to Reduce Natural Gas Flaring and Methane Emissions

Financing Solutions to Reduce Natural Gas Flaring and Methane Emissions

Fiscal Systems for Hydrocarbons

Fiscal Systems for Hydrocarbons

Building Resilience

Building Resilience

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