Bargaining between the host country and oil companies is very common to international oil and gas development projects.The existence of information asymmetry gives the host country an endogenous bargaining advantage.F...Bargaining between the host country and oil companies is very common to international oil and gas development projects.The existence of information asymmetry gives the host country an endogenous bargaining advantage.Foreign oil companies might change their unfavorable negotiating position by changing the order of bidding and adjusting bidding strategies.This paper introduces both factors into a bilateral bargaining model to study the impact of information asymmetry and bidding order on the strategy and equilibrium returns of oil companies.According to the ownership of the right to bid first,two scenarios are designed for the model to compare the equilibrium returns of the host country and oil companies.The results show that:1)There is a first-mover advantage in the process of bilateral bidding,so oil companies better bid first;2)The information asymmetry will lead to a higher nominal income ratio of oil companies and a lower nominal income ratio of the host country,but it doesn’t affect the total income ratio at all.展开更多
On December 9, 2014 the scientific research project ＂Developmentand commercial application of technology forultra-deep HDS of diesel （RTS）＂ jointly performed bythe SINOPEC Research Institute of Petroleum Processin...On December 9, 2014 the scientific research project ＂Developmentand commercial application of technology forultra-deep HDS of diesel （RTS）＂ jointly performed bythe SINOPEC Research Institute of Petroleum Processing（RIPP）, the Yanshan Petrochemical Branch Company（YPBC）, the Maoming Petrochemical Branch Companyand the Guangzhou Petrochemical Branch Company haspassed in Beijing the technical appraisal organized by theScience and Technology Division of the Sinopec Corp.展开更多
The research project'Development and application of FCC additive for maximization of propylene and isobutylene'jointly undertaken by RIPP,the Baling Petrochemical Company(BPC)and the SINOPEC
基金the financial support provided by the Humanities and Social Sciences Program of Chinese Ministry of Education(Grant Nos.19YJCZH106 and 20YJCZH201)National Natural Science Foundation of China(Grant Nos.71904111 and 71774105)Program for the Philosophy and Social Sciences Research of Higher Learning Institutions of Shanxi(Grant No.201803079,2nd[2018]of Jin Education)。
文摘Bargaining between the host country and oil companies is very common to international oil and gas development projects.The existence of information asymmetry gives the host country an endogenous bargaining advantage.Foreign oil companies might change their unfavorable negotiating position by changing the order of bidding and adjusting bidding strategies.This paper introduces both factors into a bilateral bargaining model to study the impact of information asymmetry and bidding order on the strategy and equilibrium returns of oil companies.According to the ownership of the right to bid first,two scenarios are designed for the model to compare the equilibrium returns of the host country and oil companies.The results show that:1)There is a first-mover advantage in the process of bilateral bidding,so oil companies better bid first;2)The information asymmetry will lead to a higher nominal income ratio of oil companies and a lower nominal income ratio of the host country,but it doesn’t affect the total income ratio at all.
文摘On December 9, 2014 the scientific research project ＂Developmentand commercial application of technology forultra-deep HDS of diesel （RTS）＂ jointly performed bythe SINOPEC Research Institute of Petroleum Processing（RIPP）, the Yanshan Petrochemical Branch Company（YPBC）, the Maoming Petrochemical Branch Companyand the Guangzhou Petrochemical Branch Company haspassed in Beijing the technical appraisal organized by theScience and Technology Division of the Sinopec Corp.
文摘The research project'Development and application of FCC additive for maximization of propylene and isobutylene'jointly undertaken by RIPP,the Baling Petrochemical Company(BPC)and the SINOPEC
