气候变化领域集成服务门户(CCPortal): An analysis of the efficiency of the oil refining industry in the OECD countries

CCPortal

DOI	10.1016/j.enpol.2020.111491
	An analysis of the efficiency of the oil refining industry in the OECD countries
	Lim C.; Lee J.
发表日期	2020
ISSN	03014215
卷号	142
英文摘要	This study investigated the efficiency of the oil refining industry using the two-stage method of Markowitz portfolio optimization theory and panel data analysis of about 30 OECD countries from 2005 to 2016, which is a new methodology for measuring the efficiency of the oil industry. The oil refining industry's efficiency is derived from the prices of petroleum products (Naphtha, Gasoline, Kerosene, Diesel, and Fuel Oil) using the portfolio theory. The panel data was constructed using the following dependent variables, the crude oil production efficiency, energy consumption, renewable energy consumption, and R&D investment. Using the panel data analysis, empirical analyzes are conducted on how the efficiency of the oil refining industry is affected by explanatory variables. The results show that crude oil production and energy use in OECD countries have a negative effect on the efficiency of the oil refining industry, and consumption of renewable energy and R&D investment have a positive effect. Contrary to conventional perception, the petroleum industry can coexist with the renewable energy industry for sustainable development. © 2020 Elsevier Ltd
关键词	Dynamic panel model Efficient frontier Markowitz portfolio optimization theory Oil refining industry Panel data analysis Production efficiency
英文关键词	Crude oil price; Data handling; Energy utilization; Financial data processing; Gasoline; Gasoline refining; Information analysis; Investments; Site selection; Tunneling (excavation); Crude oil production; Dependent variables; Explanatory variables; Oil-refining industry; Panel data analysis; Portfolio optimization; Renewable energy consumption; Renewable Energy industries; Petroleum industry; crude oil; efficiency measurement; empirical analysis; energy market; energy use; OECD; optimization; panel data; refining industry
语种	英语
来源期刊	Energy Policy
文献类型	期刊论文
条目标识符	http://gcip.llas.ac.cn/handle/2XKMVOVA/204746
作者单位	Technology Management, Economics and Policy Program, Seoul National University, 1, Gwanak-ro, Gwanak-gu, Seoul, 08826, South Korea; Energy Affairs Team, GS Caltex Corporation, 508, Nonhyeon-ro, Gangnam-gu, Seoul, 06141, South Korea
推荐引用方式 GB/T 7714	Lim C.,Lee J.. An analysis of the efficiency of the oil refining industry in the OECD countries[J],2020,142.
APA	Lim C.,&Lee J..(2020).An analysis of the efficiency of the oil refining industry in the OECD countries.Energy Policy,142.
MLA	Lim C.,et al."An analysis of the efficiency of the oil refining industry in the OECD countries".Energy Policy 142(2020).