Renewable energy sources as a risk factor for the development of russian energy companies

Ulanov, V. L.; Sazonov, D.

doi:10.31857/s000233100002358-7

Cited by 7 publications

(5 citation statements)

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“…) × P e ≥ f e/e × (1 − w on TPP ) × P s f (6) where f e/e -specific reference fuel consumption (SRFC) for electric energy production, t.r.f/MWh. Equation ( 6) allows estimating the acceptable level of costs for the HP drive in which there is no negative income from electric power sale, see Equation (7):…”

Section: Methodsmentioning

confidence: 99%

“…Expanding the practice of using RES and SER requires solving issues associated with high capital costs and the level of technology development. Under the conditions of lack of experience in the design, construction, and operation of the high-capacity units based on RES and SER, it is common practice to adopt standard foreign circuit design solutions, which may not always be economically justified for the climatic and market conditions of other countries [2,6,7]. A rational approach to the choice of a circuit design solution will allow heat pump technologies to be organically integrated into the structure of energy with a high proportion of district heating and cogeneration [8,9].…”

Section: Introductionmentioning

confidence: 99%

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Heat Pump Capacity Selection for TPPs with Various Efficiency Levels

et al. 2022

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The variety of possible solutions for the integration of heat pumps (HP) into the circuits of generation facilities dictates the need for preliminary selection of the most promising options. Determining the maximally economically efficient HP capacity may be the key limiting factor for the potential range of solutions. The purpose of the study is to analyze the influence of the type of power equipment of a thermal power plant (TPP) on the choice of HP capacity. In the course of the study, we identified factors that can influence the choice of HP capacity. The correlation between the limitation of the maximum capacity of HP (from the point of view of break-even operation in the electricity market) from the electric capacity and the efficiency of the TPP equipment was established. The ranges of HP capacity for the most common types of TPP power equipment in the Russian Federation were determined. The maximum HP capacity for TPPs based on a steam turbine unit (STU) of type K-300-170- 1P was determined. The method proposed in the paper allows limiting the number of circuits options, as well as TPPs and external conditions suitable for the use of HP. Firstly, under the conditions of a given power system and fuel prices, it is possible to determine the type of power equipment of a TPP in combination with which HP can be used. Secondly, under the conditions of a given power system and type of equipment, the maximum fuel price at which HP can be used at thermal power plants can be determined. Thirdly, under the conditions of a given type of equipment and fuel price, it is possible to select an energy system (region) in which it is possible to build a TPP with HP. It was found that increasing the efficiency of thermal power plant equipment contributes to increasing the HP power capacity and expanding the range of external conditions under which the use of HP becomes rational. It was verified that for TPP equipment of a given type, the use of HP is more rational when operating in cogeneration mode. It was found that, all other conditions being equal, an essential factor determining the range of HP capacity is the electric capacity of TPPs.

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Section: Methodsmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Heat Pump Capacity Selection for TPPs with Various Efficiency Levels

et al. 2022

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“…Meanwhile, the values of the market capitalization of corporations were in almost the same ratio as the shares in a single group of companies long before the merger. Therefore, completed on August 9, 2005 merger 8 Suncor and Petro-Canada merger. Moreover, a major event was signed on December 14, 2009 and closed on June 25, 2010 9 by ExxonMobil deal to purchase a fairly large gas company XTO Energy.…”

Section: Largest Overseas Oil and Gas Manda Dealsmentioning

confidence: 99%

“…Of course, the rather high level of the control premium is a reflection of the imbalances that have arisen in the stock market sector of the oil and gas industry between capitalization, as well as market and balance sheet valuation of assets. It turns out that oil and gas assets have been very seriously underestimated according to the position of investors and company management since the mid-2000s [8].…”

Section: Key Parameters Of Concluded Dealsmentioning

confidence: 99%

The foreign practice of large merger & acquisitions transactions in the stock market sector of the oil and gas industry

SHIMKO

2023

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Subject. This article analyzes 12 major M&A deals in the stock market sector of the oil and gas industry in 2000–2019. Industry indicators are measured on the basis of data from ExxonMobil, Chevron, ConocoPhillips, Occidental Petroleum, Devon Energy, Anadarko Petroleum, EOG Resources, Apache, Marathon Oil, Imperial Oil, Suncor Energy, Husky Energy, Canadian Natural Resources, Royal Dutch Shell, BP, TOTAL, Eni, Equinor (Statoil), PetroChina, Sinopec, CNOOC, Petrobras, PJSC Gazprom, PJSC NK Rosneft and PJSC LUKOIL. Objectives. The article aims to examine the terms of M&A deals in the oil and gas stock market sector, as well as analyze the change and determine the current level of premium for control over equity capital in relation to market capitalization, and evaluate the consequences of concluded deals for the market capitalization of companies. Methods. For the study, I used the methods of comparative, financial and economic analyses, summarizing financial reporting data. Results. The article finds that market capitalization is the main benchmark for mergers and acquisitions in the stock market sector of the oil and gas industry, but the difference between the market valuation of assets and liabilities can also be used. An increase in the level of premium for capital control is noted in the industry, which exceeded half of the market capitalization. Thus, the least acceptable combination of conditions for entering into agreements is the totality of factors, such as high oil prices, commensurate capitalization of companies, cash compensation for equity capital and a high premium for control. On the contrary, transactions that took place during a period of low oil quotations with compensation in the form of shares had the most favorable effect on subsequent market capitalization. Conclusions and Relevance. It is necessary to pay close attention to the terms of mergers and acquisitions, in particular the control premium, as well as carefully calculate all the possible consequences of agreements concluded in the stock market sector of the oil and gas industry. The findings can help appraise the value of oil and gas assets as part of a comparative approach and decide on actions for raising the market capitalization of publicly traded oil and gas corporations.

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“…For these purposes, the NARDL (non-linear autoregressive distributed lag) model and its variants are often used. There are also few articles that demonstrate how external factors characterizing changes in the fuel consumption patterns influence the prices for oil products (Gurvitš et al, 2018;Meyler, 2009;Ulanov and Sazonov, 2018). IJESM 16,2 2.…”

Section: Literature Reviewmentioning

confidence: 99%

Modelling oil product prices with due regard to proliferation of alternative fuels and tightening of technical standards

Ulanov

Skorobogatko

2021

IJESM

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Purpose This paper aims to clarify the relationship between oil product prices and factors describing the most crucial emerging trends in fuel consumption. The work is aimed to test the hypothesis that the proliferation of alternative fuel cars is a significant factor in determining the level of motor fuel prices. The influence of technical standards of oil products on the model parameters is also analysed. Design/methodology/approach The hypothesis testing is carried out on the basis of an econometric analysis of information regarding the North-West European commodity market and the data on the registration of alternative fuel passenger vehicles. Time series are analysed for the presence of a structural shift in the parameters of the model as a result of changes in the requirements of technical regulations for fuel. Findings The results suggest a different nature of the influence of the proliferation of alternative fuel passenger vehicles – it has little effect on diesel prices, whilst the indicators under study have a negative effect on the prices of motor gasoline. The construction of oil product price models has confirmed the impact of tightening the technical requirements for the parameters of dependence equations. Practical implications The obtained results can be used in forecasting price indicators in oil refining for strategic and investment purposes. Originality/value This paper fulfils an identified need to take into account the emerging global trends in fuel consumption to obtain reliable parameters for oil product price modelling.

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Renewable energy sources as a risk factor for the development of russian energy companies

Cited by 7 publications

References 0 publications

Heat Pump Capacity Selection for TPPs with Various Efficiency Levels

Heat Pump Capacity Selection for TPPs with Various Efficiency Levels

The foreign practice of large merger & acquisitions transactions in the stock market sector of the oil and gas industry

Modelling oil product prices with due regard to proliferation of alternative fuels and tightening of technical standards

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