WEBINAR: Turbulence in Global Financial Markets: Oil and Gas Prices

EAGE LC London

25 February 2021

Click here for registration

Agenda (UK time)

18:30-18:40 Introduction and Announcements

18:40-19:20 Turbulence in Global Financial Markets: Oil and Gas Prices

19:20-19:40 Q&A 

Speaker

Okan Yardimci, EMRA, Turkey; University of Oxford, UK

Dr. Yardimci graduated from the Middle East Technical University (Turkey), Department of Petroleum and Natural Gas Engineering in 2004. He got an MBA degree from the Atılım University (Turkey) in 2008 and joined an Executive Program on economics of regulation in the Michigan State University (USA) in 2008. Afterwards, he participated in Master of Law (LL.M.) at the Pennsylvania State University (USA) between 2013-2015. He had been working as a reservoir engineer in an international oil company before he was recruited by the Energy Market Regulatory Authority (EMRA) of Turkey. He teaches economics of regulation, financing of energy investments, oil and gas law, petroleum property valuation, reservoir engineering, production engineering at several universities. He is an Academic Visitor at the University of Oxford, St Antony's College, South East European Studies (SEESOX). His research project at SEESOX focuses on Eastern Mediterranean and energy geopolitics. 

Abstract

The impact of the COVID-19 hammered the oil and gas industry in 2020, forcing WTI prices to go negative for the first time on record. We haven’t seen a full recovery yet and the recent highlights in the financial markets shows us the fragility of today's financial system. During these times of ongoing volatility in global financial markets, we’ll discuss the oil and gas prices. 

Our event will address the following issues:

- Oil collapse in 2020

- The recent highlights in the financial markets and effects on oil and gas prices

Springer, 2018

A book chapter by O. Yardımcı and Prof. Dr. M.B. Karan 

in the “Energy Economy, Finance and Geostrategy”

Bir bölümünü Prof. Dr. M.B. Karan ile kaleme aldığımız 

“Energy Economy, Finance and Geostrategy” isimli kitap

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Effectiveness of Regulation: An Investigation of the Turkish Natural Gas Distribution Market

Okan YARDIMCI [1] and Mehmet Baha KARAN [2]

Abstract

In this chapter, the effectiveness of regulation in the Turkish natural gas distribution sector is investigated by examining EMRA’s implementations and the performances of the companies. The analyses were taken into account mainly in the context of the effectiveness of regulation rather than in drawing conclusions with respect to economic paradigms, like market failure.  The important regulations with regard to the Turkish natural gas distribution sector were analyzed within the scope of the differences between the various planned and recognized situations. Thus, it was understood that some of the regulations did not produce effective results. Particularly the comparison between private and state-owned companies concerning their performances and R&D expenditures revealed the alienation experienced from the expected benefits of liberalization. The regulations to encourage sector development and cost reduction through R&Ds have not been properly implemented. The obtained results are considered as partially regulatory failure.

Keywords

Natural gas, distribution, natural monopoly, effective regulation, regulatory failure

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[1] O. Yardımcı

Energy Expert, Energy Market Regulatory Authority; Part-Time Instructor, Middle East Technical University

e-mail: oyardimci@epdk.org.tr

[2] M.B. Karan

Professor of Finance, Department of Business Administration, Hacettepe University, Turkey

e-mail: mbkaran@hacettepe.edu.tr

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