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Finance and North Sea oil: the challenge of non-recourse finance

Journal Article:

Abstract

Many companies operating in the North Sea feel that the financial community is not responding to the complexity of their situation brought about by the interplay between national legislation and fiscal measures, technological development, extreme weather conditions, OPEC decisions, or falling oil demand. The financial community feels it is lending its depositors' money and the kind of innovations required by some companies in the oil industry would reduce its level of security. After reviewing the possible solutions, the author concludes that it is highly unlikely that non-resource finance in large amounts will be available without collateral, or other security, from outside the North Sea area. The author offers his suggestion and preference for a new kind of vehicle to be designed by the financial institutions that would provide the necessary guarantees to the lending consortium in accordance with the needs of the individual participant in the license or field project. (MCW)
Authors:
Publication Date:
Apr 01, 1976
Product Type:
Journal Article
Reference Number:
EPA-; EDB-76-074584
Resource Relation:
Journal Name: Pet. Rev.; (United Kingdom); Journal Volume: 30:352
Subject:
29 ENERGY PLANNING, POLICY AND ECONOMY; 02 PETROLEUM; NORTH SEA; PETROLEUM INDUSTRY; FINANCING; DEMAND FACTORS; LEGISLATION; LICENSING; OIL WELLS; OPEC; SECURITY; UNITED KINGDOM; WEATHER; ATLANTIC OCEAN; EUROPE; INDUSTRY; INTERNATIONAL ORGANIZATIONS; SEAS; SURFACE WATERS; WELLS; 294002* - Energy Planning & Policy- Petroleum; 020700 - Petroleum- Economics, Industrial, & Business Aspects
OSTI ID:
7345833
Country of Origin:
United Kingdom
Language:
English
Other Identifying Numbers:
Journal ID: CODEN: PETRB
Submitting Site:
TIC
Size:
Pages: 213-217
Announcement Date:

Journal Article:

Citation Formats

White, N A. Finance and North Sea oil: the challenge of non-recourse finance. United Kingdom: N. p., 1976. Web.
White, N A. Finance and North Sea oil: the challenge of non-recourse finance. United Kingdom.
White, N A. 1976. "Finance and North Sea oil: the challenge of non-recourse finance." United Kingdom.
@misc{etde_7345833,
title = {Finance and North Sea oil: the challenge of non-recourse finance}
author = {White, N A}
abstractNote = {Many companies operating in the North Sea feel that the financial community is not responding to the complexity of their situation brought about by the interplay between national legislation and fiscal measures, technological development, extreme weather conditions, OPEC decisions, or falling oil demand. The financial community feels it is lending its depositors' money and the kind of innovations required by some companies in the oil industry would reduce its level of security. After reviewing the possible solutions, the author concludes that it is highly unlikely that non-resource finance in large amounts will be available without collateral, or other security, from outside the North Sea area. The author offers his suggestion and preference for a new kind of vehicle to be designed by the financial institutions that would provide the necessary guarantees to the lending consortium in accordance with the needs of the individual participant in the license or field project. (MCW)}
journal = {Pet. Rev.; (United Kingdom)}
volume = {30:352}
journal type = {AC}
place = {United Kingdom}
year = {1976}
month = {Apr}
}