Handbook of Energy Politics
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Handbook of Energy Politics

Edited by Jennifer I. Considine

Starting with the fundamentals of the global energy industry, Handbook of Energy Politics goes on to cover the evolution of capital and financial markets in the energy industry, the effects of technology, environmental issues and global warming and geopolitics. The book concludes by considering the future, including the lessons learned from history, where we are most likely to be heading and what steps we can take to mitigate potential energy risks. This Handbook will be an invaluable resource for upper level graduates and postgraduate scholars.
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Chapter 15: Middle East and Asia: the oil trade and pricing nexus

Tilak Doshi


The trade and pricing nexus that has developed between the Middle East oil producers and its oil importing neighbours ‘East of Suez’ over the past half century is among the most fundamental variables of any global model of energy politics. Key dimensions which characterize the oil trade and pricing nexus between the two regions include Asia’s remarkable oil demand growth and its impact on inter-regional oil trade, the pricing formulas used by Middle East national oil companies (NOCs) in term contract sales to Asia, buyer perceptions of the ‘Asia premium’ alleged to apply to crude oil sales in the region, and the role of price reporting agencies in crude oil price discovery in Asia.

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