COURSE OUTLINE. Lianyong Feng

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1 The title of course: COURSE OUTLINE Page 1 CONTACT INFORMATION INSTRUCTOR: Lianyong Feng OFFICE: Building Geology, Room 623 PHONE WITH VOIC fengly@yahoo.cn OFFICE HOURS: By Appointment COURSE SUMMARY Course description: (IPE) is a course that discusses international petroleum cooperation based on the world oil recourses and world market. This course covers petroleum science, economics and management science which can be used to analyze oil resource, oil markets, oil companies, governments and organizations, as well as international petroleum cooperation. Students will engage in the fields of petroleum strategy research, oil trading, oil marketing and oil international cooperation after learning this course. The following questions will be answered in this course: How many years the oil reserves can be used? What is the tendency of the oil market in long term? What are the functions of governments in oil industry? What are the oil companies in oil industry? How does oil company take part in the international cooperation. IPE is a connection course of petroleum and economics. Students will master this knowledge and apply this knowledge in the petroleum industry. Total course hours: 48(Lec) Credit value: 3 credits Course pre-requisites: Engineering Economics, Principle of economics and Principle of management. Course objectives or learning outcomes: Upon completion of this course, the student will be able to Comprehend the basic concept of ; Comprehend the frame and content of ; 1

2 Master the basic knowledge of oil, oil resource, oil products, oil industry history, Page oil age, 2 peak oil, oil market, oil trade, oil corporations, oil cooperation, and so on; Master the methods of analyzing international oil market; Master the ways of analyzing the life times of oil resources and the ways of forecasting and analyzing the oil reserves and oil price; Master the methods of forecasting oil production and oil price, methods of evaluation of project and firm; Master the different types of contracts in international oil cooperation. TEXTS and MATERIALS REQUIRED TEXT:, Feng Lianyong, Chen Daen, tangxu. Petroleum Industry Press, February 2013(in Chinese); Required materials: Monthly Journal: (In Chinese); Website: WEEKLY PLAN(four lecture hours every week): (subject to modification as the course progresses) Topic Introduction (3hours) 1. Basic questions about 2. Basic methods in Chapter 1. The history of international oil industry and the outlook 1. Development of international oil industry 2. Development of China oil industry 3. The post oil age of world oil industry 2

3 Chapter 2. Basic knowledge of hydrocarbon (3 hours) 1. Brief introduction of oil concept 2. Classification and evaluation of oil and gas resources 3. Process of exploration and development for oil and gas 4. Brief introduction to oil refining and processing 5. Brief concept of oil products Page 3 Chapter 3. The brief introduction to oil supply and demand of World oil and gas (2hours) 1. The brief introduction to oil and gas resources 2. The brief introduction to oil and gas supply and demand Chapter 4. Peak oil theory and forecast models (4 hours) 1. Rising and impact of Peak oil theory 2. The application of Peak oil forecast models Chapter 5. The impacts of Peak Oil on the world (4 hours) 1. The Global peak oil is here 2. Peak oil is the reason of oil price rising 3. The fluctuation of oil price may impact on economy of world 4. Mitigation of the Peak Oil in advance Chapter 6. The theory of oil price and its forecasting (4 hours) 1. The history of world oil price 2. The factors of world oil price 3. The oil pricing mechanism 4. The forecasting of world long-term oil price by using models Chapter 7. The method of evaluation EROI (Energy Return of Investment) (3 hours) 1. The concept of EROI 2. The method of accounting EROI 3

4 3. The EROI and its relevant questions Page 4 Chapter 8. International oil market (3 hours) 1. The concept of International oil market 2. International oil trade and transport 3. China oil market Chapter 9. Oil companies in oil industry (3 hours) 1. National oil companies 2.Integreted international oil companies 3. International oil service companies 4. Competitiveness analysis of oil companies Chapter 10. Government and organization (3 hours) 1. The function of Government in oil industry 2. The governmental oil and energy organizations in the world Chapter 11. International oil cooperation and contract (4 hours) 1. The forms of oil Cooperation 2. The types of oil contracts and economic evaluation 3. Comparison of different countries tax systems Chapter 12. The evaluation methods of project and oil firms (4 hours) 1. Basic concept 2. The basic introduction of evaluation methods of oil project and oil firms 3. The comparison of methods of evaluation of project and firms 4. The case of evaluation in oil industry Chapter 13. The internationalization of China oil companies (4 hours) 1. History of the internationalization of China oil companies 2. The challenge of the internationalization of China oil companies 4

5 3.The solution of sustainability of the internationalization of China oil companies Page 5 5

6 EVALUATION OF STUDENT PERFORMANCE Page AND 6 DETERMINATION OF FINAL GRADES An open-book exam is suggested. Each Total Due Date Presentations Presentations 15% 15% Before the course finished Attendance evaluation 15% 15% Exams Final written exam (comprehensive) 70% 70% Confirm with official University schedule EXAMS: Your student I.D. is required at exams to verify your identity. There will not be midterm exams and class participation will be marked. The final exam will be comprehensive, covering material from the entire course. The exams may include short answer questions, essay form questions, and multiple-choice questions. Where possible, student exams will be marked and results made available to students within two weeks of the date the exam was written. Results will be posted in the website of University Teaching Division. If for some reason marks will not be made available without great delay students will be advised of this fact. PERCENTAGE TO LETTER GRADE CONVERSION The official grading system at China University of Petroleum is just from scores. But we could transfer it to following 12 point letter grade system, according to MacEwan University Standard. Grade Percentage Comment Grade Points A Excellent 4.0 A Excellent 4.0 A Excellent 3.7 6

7 B Good 3.3 B Good 3.0 B Good 2.7 C Satisfactory 2.3 C Satisfactory 2.0 *C Satisfactory 1.7 D minimal pass 1.3 does not transfer D minimal pass 1.0 does not transfer F 0-49 FAIL 0 does not transfer Page 7 7