Xiaoyi Mu is Reader in Energy Economics in the Centre for Energy, Petroleum and Mineral Law and Policy at the University of Dundee. Prior to joining the Centre in 2008, he was a Senior Consultant at Global Energy Decisions (now ABB Ventyx) in California, and worked as an analyst at the headquarters of CNPC, China’s largest oil and gas producer.

• 1. Introduction2. Exploration, Development and Production3. Licensing and Fiscal Issues4. Petroleum Transportation5. Refining and Marketing6. Natural Gas7. Oil Prices8. Conclusion

This is a timely and necessary addition to the introductory literature on oil and gas economics suitable for a broad range of undergraduates. It is not mathematically demanding, so students of the social sciences and many other disciplines will find it easy to understand, and engineers can find much useful information about the industry and its markets.

Xiaoyi Mu is Reader in Energy Economics in the Centre for Energy, Petroleum and Mineral Law and Policy at the University of Dundee. Prior to joining the Centre in 2008, he was a Senior Consultant at Global Energy Decisions (now ABB Ventyx) in California, and worked as an analyst at the headquarters of CNPC, China’s largest oil and gas producer.

• 1. Introduction2. Exploration, Development and Production3. Licensing and Fiscal Issues4. Petroleum Transportation5. Refining and Marketing6. Natural Gas7. Oil Prices8. Conclusion

This is a timely and necessary addition to the introductory literature on oil and gas economics suitable for a broad range of undergraduates. It is not mathematically demanding, so students of the social sciences and many other disciplines will find it easy to understand, and engineers can find much useful information about the industry and its markets.

Xiaoyi Mu is Reader in Energy Economics in the Centre for Energy, Petroleum and Mineral Law and Policy at the University of Dundee. Prior to joining the Centre in 2008, he was a Senior Consultant at Global Energy Decisions (now ABB Ventyx) in California, and worked as an analyst at the headquarters of CNPC, China’s largest oil and gas producer.

• 1. Introduction2. Exploration, Development and Production3. Licensing and Fiscal Issues4. Petroleum Transportation5. Refining and Marketing6. Natural Gas7. Oil Prices8. Conclusion

This is a timely and necessary addition to the introductory literature on oil and gas economics suitable for a broad range of undergraduates. It is not mathematically demanding, so students of the social sciences and many other disciplines will find it easy to understand, and engineers can find much useful information about the industry and its markets.