A game theoretic approach for pricing petroleum and determining investors’ production volume with the consideration of government and intermediate producers

Babaei, Maryam; Asgarian, Fariba; Jamali, Mohammad-Bagher; Rasti−Barzoki, Morteza; Piran, Md. Jalil

doi:10.1016/j.seta.2020.100825

Cited by 7 publications

(6 citation statements)

References 34 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…The rest of the literature references demonstrate application. The aspects contain petroleum supply chain [10,11,[98][99][100][101][102][103][104][105][106][107], steel-making [108][109][110][111], electric power system [112][113][114][115][116][117][118][119], and wind power [120][121][122][123]. The aforementioned references were mostly searched from Google Scholar with related key words, such as "optimization", "combinatorial optimization problem", "machine learning", "supervised learning", "reinforcement learning", "game theory", "refinery scheduling", "steel-making", "electric power system", "wind power", etc.…”

Section: Copsmentioning

confidence: 99%

“…The model takes into account both economic objectives and process constraints to tackle such MILP. On the aspect of economy, Babaei et al [101] used a three-phase Stackelberg game theory approach based on a multi-agent method to analyze the gasoline industry investment by the government under massive consumption and shortage of production in developing countries. The results show that profit is maximized for investors under the management of production volume.…”

Section: Refinery Production Planningmentioning

confidence: 99%

See 1 more Smart Citation

A Review: Machine Learning for Combinatorial Optimization Problems in Energy Areas

et al. 2022

View full text Add to dashboard Cite

Combinatorial optimization problems (COPs) are a class of NP-hard problems with great practical significance. Traditional approaches for COPs suffer from high computational time and reliance on expert knowledge, and machine learning (ML) methods, as powerful tools have been used to overcome these problems. In this review, the COPs in energy areas with a series of modern ML approaches, i.e., the interdisciplinary areas of COPs, ML and energy areas, are mainly investigated. Recent works on solving COPs using ML are sorted out firstly by methods which include supervised learning (SL), deep learning (DL), reinforcement learning (RL) and recently proposed game theoretic methods, and then problems where the timeline of the improvements for some fundamental COPs is the layout. Practical applications of ML methods in the energy areas, including the petroleum supply chain, steel-making, electric power system and wind power, are summarized for the first time, and challenges in this field are analyzed.

show abstract

Section: Copsmentioning

confidence: 99%

Section: Refinery Production Planningmentioning

confidence: 99%

A Review: Machine Learning for Combinatorial Optimization Problems in Energy Areas

et al. 2022

View full text Add to dashboard Cite

show abstract

“…Then, the main objective of governments is to provide investors with the needed information so that they can decide logically about investment based on it. For instance, through a game theory approach, Babaei et al [32] demonstrate that by determining the amount of subsidies and intermediate producers' production, governments can reassure investors that their investments will be profitable. In such cases, governments can provide the required conditions for fair competition among the stakeholders that can ensure the process for a smooth transition of the LNG as a sustainable marine fuel within the shipping industry.…”

Section: Multi-governance Level: Towards a Top-down Approach In Considering External Regulation Systemsmentioning

confidence: 99%

Promoting LNG as A Marine Fuel in Norway: Reflections on the Role of Global Regulations on Local Transition Niches

Laribi

Guy

2020

Sustainability

View full text Add to dashboard Cite

Contemporary societies are marked by constant tensions between the notion to improve sustainability and the reluctance to engage in uncertain changes. In any sector, the transition is a delicate and complex process that involves many actors, organizations, and institutions. Niche analysis approaches such as the multilevel perspective model (MLP) explain how such a process grows from innovation within a very restricted field to its generalized application on a global scale. Shipping is a sector particularly challenged by the transition process away from heavy fuel oil towards more environment-friendly alternatives such as liquefied natural gas (LNG) or even non-fossil alternatives. Within this industry, Norway stands as an early adopter and leader of the emerging transition. Drawing from a wide discussion of the treatment of scale in transition literature and from this national case study, we propose that the transition process can emerge not only from a local niche perspective, as widely documented in the literature, but can also be driven by changes at a much larger scale and initiated by new international regulations.

show abstract

“…Many research studies are ongoing to maximize engine efficiency and decrease harmful emissions because internal combustion engines (ICEs) are still the most significant apparatus in the transport sector. , Traditional petroleum gasoline can increase harmful soot, greenhouse gases (GHG), and NO x emission issues in motor gasoline engines. In order to decrease these mentioned emissions, electric motors and hybrids engine can work alternatively to the motor gasoline engine. , Innovative advancements in gasoline spark ignition (SI) engines permit the utilization of several motor fuels.…”

Section: Introductionmentioning

confidence: 99%

Advanced Progress and Prospects for Producing High-Octane Gasoline Fuel toward Market Development: State-of-the-Art and Outlook

Abdellatief,

Ershov,

Savelenko

et al. 2023

Energy Fuels

View full text Add to dashboard Cite

The development of oil refining in advanced nations is mostly focused on low-carbon fuel. Similar efforts are being made to improve the fuel efficiency of internal combustion engines, which will result in lower exhaust emissions. Furthermore, by assessing the indicated trends in engine building, it is important for fuel manufacturers to understand how the requirements for gasoline quality indicators will change, primarily for its knock resistance. The aim of the current comprehensive article is to study the state-of-the-art review emphasizing recent progress and prospects for producing high-octane gasoline fuel toward market development. The market for branded gasoline and multifunctional additives, involving friction modifiers, corrosion inhibitor components, as well as detergent components is presented. Furthermore, market development trends and quality requirements for motor gasoline, involving antiknocking characteristics and gasoline oxygenated compounds as additives, are exhibited. Besides, perspective gasoline engine technologies, including different types of engines, are declared. The formulation of effective gasoline surrogates is a challenging task due to advanced combustion strategies, engine design, and variable operating conditions in spark-ignition engines. The extensive development of direct injection and turbocharging technologies is constrained by the actual compression ratio of engines. Likewise, an increase in the knock resistance of the produced gasoline would further increase the compression ratio and efficiency of new internal combustion engines.

show abstract

A game theoretic approach for pricing petroleum and determining investors’ production volume with the consideration of government and intermediate producers

Cited by 7 publications

References 34 publications

A Review: Machine Learning for Combinatorial Optimization Problems in Energy Areas

A Review: Machine Learning for Combinatorial Optimization Problems in Energy Areas

Promoting LNG as A Marine Fuel in Norway: Reflections on the Role of Global Regulations on Local Transition Niches

Advanced Progress and Prospects for Producing High-Octane Gasoline Fuel toward Market Development: State-of-the-Art and Outlook

Contact Info

Product

Resources

About