Impact of Middle East Crude Crisis, Imperatives on Indian Economy and Shift in Indiaas Crude Oil Imports Policies

2015 ◽  
Author(s):  
Sandesh Tukaram Ghandat
Keyword(s):  
Middle East ◽  
Crude Oil ◽  
Indian Economy

Impacts of Falling Crude Oil Prices and Reduction of Energy Subsidies on the Indian Economy: A CGE Modelling Approach

2016 ◽  
Vol 20 (4) ◽  
pp. 345-360
Author(s):  
Amrita Ganguly ◽  
Koushik Das
Keyword(s):  
Exchange Rate ◽  
Crude Oil ◽  
Oil Price ◽  
Cash Transfer ◽  
Crude Oil Price ◽  
Transfer Scheme ◽  
Indian Economy ◽  
Cge Modelling ◽  
The Impact ◽  
Energy Subsidy

This study analyzes the impacts of international crude oil fluctuations and energy subsidy (on LPG, petrol and diesel) removals on Indian economy. We have applied computable general equilibrium (CGE) modelling as our relevant methodology, following Shoven and Whalley ( J Econ Lit XXII: 1007–1051, 1984) based on energy social accounting matrix (ESAM) of India for the year 2007–2008. It is seen that the international crude oil price fluctuations has a greater effect in determining gross domestic product (GDP) and exchange rate as compared to the effect of energy subsidy removal. With decrease in international crude oil price, GDP increases and exchange rate appreciates. On the other hand, with decrease in energy subsidy, GDP decreases and exchange rate appreciates. Moreover, with introduction of direct cash transfer scheme in lieu of subsidy for LPG, it is seen that the impact on demand of LPG (substitution effect) is negligible indicating that LPG is an essential commodity.

Linking crude oil prices and Middle East stock markets

2019 ◽  
Vol 43 (2) ◽  
pp. 136-167 ◽  
Author(s):  
Mousa Tawfeeq ◽  
Alan R. Collins ◽  
Levan Elbakidze ◽  
Gulnara Zaynutdinova
Keyword(s):  
Middle East ◽  
Crude Oil ◽  
Stock Markets ◽  
Oil Prices ◽  
Crude Oil Prices

THE KIRKI INCIDENT

1993 ◽  
Vol 1993 (1) ◽  
pp. 201-207 ◽  
Author(s):  
Donald Brodie
Keyword(s):  
Middle East ◽  
Crude Oil ◽  
Western Australia ◽  
Oil Industry ◽  
Lessons Learned ◽  
National Plan ◽  
Main Structure ◽  
Light Crude Oil

ABSTRACT In the early hours of Sunday, July 21, 1991, the laden tanker Kirki was approaching the Australian coast in heavy weather when the bow section broke away from the main structure and sank. The vessel was on passage from the Middle East to Australia loaded with light crude oil. Fire was seen to break out forward, and the master transmitted a Mayday signal, which resulted in a successful rescue by the Australian authorities. At the time of the incident, the vessel was some 55 miles off the coast of Western Australia. The initial loss of oil and the threat of severe pollution of the coastline required the activation of the Australian National Plan to Combat Pollution of the Sea by Oil and its associated state and oil industry plans. This paper details the actions taken, addresses the lessons learned by the authorities and agencies involved, and lists the recommendations arising out of the actions taken to respond to the pollution aspects of the incident. It does not deal in detail with the distress and rescue details, but touches only on those areas that provide background to the subsequent pollution response.

A supply model for crude oil and natural gas in the Middle East

Energy Policy ◽  
2007 ◽  
Vol 35 (4) ◽  
pp. 2096-2109 ◽  
Author(s):  
R. Chedid ◽  
M. Kobrosly ◽  
R. Ghajar
Keyword(s):  
Middle East ◽  
Natural Gas ◽  
Crude Oil ◽  
Oil And Natural Gas ◽  
Supply Model

The Effects of Oil Price Shock on the Indian Economy—A Study

2018 ◽  
Vol 66 (1-2) ◽  
pp. 190-202
Author(s):  
Nenavath Sreenu
Keyword(s):  
Crude Oil ◽  
Jel Classification ◽  
Price Impact ◽  
Oil Price ◽  
Gdp Growth ◽  
Oil Price Shocks ◽  
Crude Oil Price ◽  
Price Shocks ◽  
Development Activity ◽  
Indian Economy

The article examines the effects of crude oil price shocks on the Indian economy development and GDP growth for the period of 2010–2018. Currently, the Indian economy has been facing the identical issues of escalating trade disparity and continuing inflation. In this connection, the study focussed on the determination of the relationship between the speculation and crude oil price impact on the Indian economic development activity and GDP growth, and the paper investigated how oil price variations affect the Indian economy development through different networks like WPI, CP, IIP, GDP, monetary policy, trade and investment. The research paper adopted methods such as GARCH model and description to tool the volatility on both the oil and stock markets, and then an extension of the vector auto-regression (VAR) models is also applied to determine the oil price shocks’ effect on macroeconomic indicators. The outcomes of cointegration model propose that crude oil is pro-cyclical to output, and the article used VAR investigation to check the discrepancy in decomposition to capture the linear inter-dependencies among the variables. JEL Classification: G4, G11, G15

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