Energy Economics and Law, _{LLM or MSc}

Programme Fees

Fee information

Fee category	Cost
EU / International students	£26,250
Tuition Fees for 2025/26 Academic Year
UK	£12,200
Tuition Fees for 2024/25 Academic Year

Stage 1

Compulsory Courses

Getting Started at the University of Aberdeen (PD5006)

This course, which is prescribed for all taught postgraduate students, is studied entirely online, is studied entirely online, takes approximately 2-3 hours to complete and can be taken in one sitting, or spread across the first 4 weeks of term.

Topics include University orientation overview, equality & diversity, MySkills, health, safety and cyber security, and academic integrity.

Successful completion of this course will be recorded on your Transcript as ‘Achieved’.

Detailed course information

State Control of Hydrocarbons (LS501E)

30 Credit Points

With only limited exceptions hydrocarbons lie in the ownership or control of states but are frequently explored for and produced by commercial actors. This course considers the means by which the state controls exploitation of its oil and gas reserves. Following a number of introductory online lectures, students will participate in interactive seminars considering topics such as: from energy security to energy trilemma; national oil companies; licensing and production sharing agreements; resource curse and transparency; health, safety and environmental regulation; and decommissioning. This course is available to students registering for the LLM Oil and Gas Law programmes (Dissertation or Professional Skills).

Detailed course information

Contemporary Issues in Energy Economics (BU505G)

15 Credit Points

Embark on an in-depth exploration of the economic foundations shaping contemporary challenges within the energy sector. Develop a deep understanding of the challenges and opportunities inherent in sustainable resource management, sustainable development, and energy consumption. Investigate the energy ‘trilemma’, gaining insights into the roles of public and private entities. Develop the knowledge and analytical skills to meaningfully contribute to shaping the future of the energy sector.

Detailed course information

Investment and Real Options Analysis for Energy (BU505J)

15 Credit Points

This course provides a comprehensive journey into the intricacies of financial decision-making. By blending theory with practical applications, you will develop the skills and insights needed to navigate the ever-evolving landscape of the energy industry. This course blends theory and hands-on Excel modelling to analyse investment choices in the energy sector. Empower your employability by developing practical skills and in depth understanding on financial choices under risk and uncertainty.

Detailed course information

Stage 2

Compulsory Courses

Economics of Energy Transition (BU555H)

15 Credit Points

Focusing on sustainability and innovation, this course offers a comprehensive understanding of economic aspects shaping the transition to cleaner energy sources. Uncover the essence of market failure within the energy sector, dissect the economic implications of environmental policies and scrutinise strategies for an inclusive transformation of the energy sector. Delve into the economic dynamics of electricity markets, evaluating the impact of energy transition on pricing and market structures.

Detailed course information

Resource Rent and Energy Policy (BU555E)

15 Credit Points

This course discusses the world petroleum market in the context of overall energy markets. The main features of the evolving petroleum market are analysed including examination of the Hotelling model and Hubbert curve. Oil price determination is discussed with detailed consideration of the special characteristics of the demand and supply curves in the industry. The role of OPEC in the market is examined, including discussion of the various models of OPEC behaviour and the determinants of its market power. The economics of climate change and the place of renewable energy in the wider energy market is discussed.

Detailed course information

Contract Law Aspects of Oil and Gas Exploration (LS554P)

30 Credit Points

A good knowledge and understanding of the commercial purpose and key features of the principal contracts used in the oil and gas industry is essential for an oil and gas lawyer. This course will examine the contracts entered into between involved in the exploration for and production of oil and gas. These include and the investment contracts entered into between the oil companies themselves in the form of Joint Operating Agreements, and those between oil and gas companies operators and the contractors making up the service and supply chain. The course will be taught by means of a mix of lectures, seminars and interactive workshops.

Detailed course information

Stage 3

Compulsory Courses

Dissertation in Energy Economics and Law (EC5904)

60 Credit Points

Dissertation project for MSc Law & Economics of Oil and Gas

Detailed course information

Programme Fees

Fee information

Fee category	Cost
EU / International students	£27,000
Tuition Fees for 2024/25 Academic Year
UK	£12,200
Tuition Fees for 2024/25 Academic Year

Stage 1

Compulsory Courses

Getting Started at the University of Aberdeen (PD5506)

This course, which is prescribed for all taught postgraduate students, is studied entirely online, is studied entirely online, takes approximately 2-3 hours to complete and can be taken in one sitting, or spread across the first 4 weeks of term.

Topics include University orientation overview, equality & diversity, MySkills, health, safety and cyber security, and academic integrity.

Successful completion of this course will be recorded on your Transcript as ‘Achieved’.

Detailed course information

Economics of Energy Transition (BU555H)

15 Credit Points

Focusing on sustainability and innovation, this course offers a comprehensive understanding of economic aspects shaping the transition to cleaner energy sources. Uncover the essence of market failure within the energy sector, dissect the economic implications of environmental policies and scrutinise strategies for an inclusive transformation of the energy sector. Delve into the economic dynamics of electricity markets, evaluating the impact of energy transition on pricing and market structures.

Detailed course information

Resource Rent and Energy Policy (BU555E)

15 Credit Points

This course discusses the world petroleum market in the context of overall energy markets. The main features of the evolving petroleum market are analysed including examination of the Hotelling model and Hubbert curve. Oil price determination is discussed with detailed consideration of the special characteristics of the demand and supply curves in the industry. The role of OPEC in the market is examined, including discussion of the various models of OPEC behaviour and the determinants of its market power. The economics of climate change and the place of renewable energy in the wider energy market is discussed.

Detailed course information

Dissertation in Energy Economics and Law (EC5904)

60 Credit Points

Dissertation project for MSc Law & Economics of Oil and Gas

Detailed course information

Contract Law Aspects of Oil and Gas Exploration (LS554P)

30 Credit Points

A good knowledge and understanding of the commercial purpose and key features of the principal contracts used in the oil and gas industry is essential for an oil and gas lawyer. This course will examine the contracts entered into between involved in the exploration for and production of oil and gas. These include and the investment contracts entered into between the oil companies themselves in the form of Joint Operating Agreements, and those between oil and gas companies operators and the contractors making up the service and supply chain. The course will be taught by means of a mix of lectures, seminars and interactive workshops.

Detailed course information

Stage 2

Compulsory Courses

Investment and Real Options Analysis for Energy (BU505J)

15 Credit Points

This course provides a comprehensive journey into the intricacies of financial decision-making. By blending theory with practical applications, you will develop the skills and insights needed to navigate the ever-evolving landscape of the energy industry. This course blends theory and hands-on Excel modelling to analyse investment choices in the energy sector. Empower your employability by developing practical skills and in depth understanding on financial choices under risk and uncertainty.

Detailed course information

Contemporary Issues in Energy Economics (BU505G)

15 Credit Points

Embark on an in-depth exploration of the economic foundations shaping contemporary challenges within the energy sector. Develop a deep understanding of the challenges and opportunities inherent in sustainable resource management, sustainable development, and energy consumption. Investigate the energy ‘trilemma’, gaining insights into the roles of public and private entities. Develop the knowledge and analytical skills to meaningfully contribute to shaping the future of the energy sector.

Detailed course information

State Control of Hydrocarbons (LS501E)

30 Credit Points

With only limited exceptions hydrocarbons lie in the ownership or control of states but are frequently explored for and produced by commercial actors. This course considers the means by which the state controls exploitation of its oil and gas reserves. Following a number of introductory online lectures, students will participate in interactive seminars considering topics such as: from energy security to energy trilemma; national oil companies; licensing and production sharing agreements; resource curse and transparency; health, safety and environmental regulation; and decommissioning. This course is available to students registering for the LLM Oil and Gas Law programmes (Dissertation or Professional Skills).

Detailed course information

Programme Fees

Fee information

Fee category	Cost
EU / International students	£26,250
Tuition Fees for 2025/26 Academic Year
UK	£12,200
Tuition Fees for 2024/25 Academic Year

Semester 1

Compulsory Courses

Critical Legal Thinking and Scholarship (LS501T)

This course provides students from diverse legal and educational backgrounds with a common understanding of the core research, analytical, and writing skills which will be required for LLM-Taught courses. The course is delivered as a series of five interactive lectures with two individual assessments designed to encourage critical thinking and provide opportunities for early feedback. It also incorporates a library workshop to provide students with hands-on experience with the resources available for course and dissertation work.

Detailed course information

Getting Started at the University of Aberdeen (PD5006)

This course, which is prescribed for all taught postgraduate students, is studied entirely online, takes approximately 5-6 hours to complete and can be taken in one sitting, or spread across a number of weeks.

Topics include orientation overview, equality and diversity, health, safety and cyber security and how to make the most of your time at university in relation to careers and employability.

Successful completion of this course will be recorded on your Enhanced Transcript as ‘Achieved’.

Detailed course information

Energy and Petroleum Economics (BU5073)

15 Credit Points

This course discusses the world petroleum market in the context of overall energy markets. The main features of the evolving petroleum market are analysed including examination of the Hotelling model and Hubbert curve. Oil price determination is discussed with detailed consideration of the special characteristics of the demand and supply curves in the industry. The role of OPEC in the market is examined, including discussion of the various models of OPEC behaviour and the determinants of its market power. The economics of climate change and the place of renewable energy in the wider energy market is discussed.

Detailed course information

Corporate Finance and Accounting for Energy (BU5074)

15 Credit Points

This course ensures students understand why companies behave the way they do with respect to financing choices and how this interacts with financial markets, with particular reference to the petroleum and energy industries. The course covers Investment Appraisal Techniques Employed in the Petroleum Industry, Risk Analysis, Portfolio Theory and the Capital Asset Pricing Model (CAPM).

Detailed course information

State Control of Hydrocarbons (LS501E)

30 Credit Points

With only limited exceptions hydrocarbons lie in the ownership or control of states but are frequently explored for and produced by commercial actors. This course considers the means by which the state controls exploitation of its oil and gas reserves. Following a number of introductory online lectures, students will participate in interactive seminars considering topics such as: from energy security to energy trilemma; national oil companies; licensing and production sharing agreements; resource curse and transparency; health, safety and environmental regulation; and decommissioning. This course is available to students registering for the LLM Oil and Gas Law programmes (Dissertation or Professional Skills).

Detailed course information

Optional Courses

Resource Rent and Energy Policy

Semester 2

Compulsory Courses

Contracting in Hydrocarbon Operations (LS551K)

30 Credit Points

A good knowledge and understanding of the commercial purpose and key features of the principal contracts used in the oil and gas industry is essential for an oil and gas lawyer. This course will examine the contracts entered into between involved in the exploration for and production of oil and gas. These include and the investment contracts entered into between the oil companies themselves in the form of Joint Operating Agreements, and those between oil and gas companies operators and the contractors making up the service and supply chain. The course will be taught by means of a mix of lectures, seminars and interactive workshops.

Detailed course information

Issues in Energy & Petroleum Economics (BU5557)

15 Credit Points

Much of this course is devoted to petroleum policies. Concepts of economic rents from petroleum exploitation and the various mechanisms by which the rents can be collected by the state are discussed, including production sharing and service contracts. Licensing policies, including relinquishment terms, pricing, procurement, domestic market obligations, the role of state oil companies, and depletion policy are examined. The Oil Fund concept and the issue of oil and gas security of supply are discussed. State and private ownership and control of gas acquisition, transmission and distribution to customers are examined. The economics of CO2 capture and storage is discussed.

Detailed course information

Real Options and Decision Making (BU5556)

15 Credit Points

The goal of this course is to deepen and broaden students' understanding and develop their analytical skills regarding investment decisions under uncertainty and the value of flexibility and information. The course will introduce relevant concepts from economics and finance such as decision trees, the Black-Scholes equation and the binomial option pricing model and discuss how these concepts may be applied to assess investments with applications related to the energy industry such as the development of an oil lease.

Detailed course information

Semester 3

Compulsory Courses

Master of Laws Dissertation (LS5904)

60 Credit Points

Between May and mid-August students prepare a 10,000 word dissertation on a topic of their choice related to their specialist LLM programme. Students are instructed through the delivery of a preparatory lecture, two supervisory meetings and a two hour dissertation planning workshop in a small group setting. Students are expected to spend considerable time on independent research throughout the course of the dissertation module, including; preparation of dissertation plan, amendment of plan in accordance with supervisory comments, preparation for the dissertation workshop, and, of course, in the final 10,000 word dissertation itself.

Detailed course information

Programme Fees

Fee information

Fee category	Cost
EU / International students	£27,000
Tuition Fees for 2024/25 Academic Year
UK	£12,200
Tuition Fees for 2024/25 Academic Year

Semester 1

Please note that all January Start Students must produce their Dissertation Project during the Summer Semester, preparation for which begins in January.

Compulsory Courses

Critical Legal Thinking and Scholarship (LS551T)

This course provides students from diverse legal and educational backgrounds with a common understanding of the core research, analytical, and writing skills which will be required for LLM-Taught courses. The course is delivered as a series of five interactive lectures with two individual assessments designed to encourage critical thinking and provide opportunities for early feedback. It also incorporates a library workshop to provide students with hands-on experience with the resources available for course and dissertation work.

Detailed course information

Getting Started at the University of Aberdeen (PD5506)

This course, which is prescribed for all taught postgraduate students, is studied entirely online, takes approximately 5-6 hours to complete and can be taken in one sitting, or spread across a number of weeks.

Topics include orientation overview, equality and diversity, health, safety and cyber security and how to make the most of your time at university in relation to careers and employability.

Successful completion of this course will be recorded on your Enhanced Transcript as ‘Achieved’.

Detailed course information

Optional Courses

Contracting in Hydrocarbon Operations (LS551K)

30 Credit Points

A good knowledge and understanding of the commercial purpose and key features of the principal contracts used in the oil and gas industry is essential for an oil and gas lawyer. This course will examine the contracts entered into between involved in the exploration for and production of oil and gas. These include and the investment contracts entered into between the oil companies themselves in the form of Joint Operating Agreements, and those between oil and gas companies operators and the contractors making up the service and supply chain. The course will be taught by means of a mix of lectures, seminars and interactive workshops.

Detailed course information

Real Options and Decision Making (BU5556)

15 Credit Points

The goal of this course is to deepen and broaden students' understanding and develop their analytical skills regarding investment decisions under uncertainty and the value of flexibility and information. The course will introduce relevant concepts from economics and finance such as decision trees, the Black-Scholes equation and the binomial option pricing model and discuss how these concepts may be applied to assess investments with applications related to the energy industry such as the development of an oil lease.

Detailed course information

Issues in Energy & Petroleum Economics (BU5557)

15 Credit Points

Much of this course is devoted to petroleum policies. Concepts of economic rents from petroleum exploitation and the various mechanisms by which the rents can be collected by the state are discussed, including production sharing and service contracts. Licensing policies, including relinquishment terms, pricing, procurement, domestic market obligations, the role of state oil companies, and depletion policy are examined. The Oil Fund concept and the issue of oil and gas security of supply are discussed. State and private ownership and control of gas acquisition, transmission and distribution to customers are examined. The economics of CO2 capture and storage is discussed.

Detailed course information

Semester 2

Please note that all January Start Students must produce their Dissertation Project during the Summer Semester, preparation for which begins in January.

Compulsory Courses

Master of Laws Dissertation (LS5904)

60 Credit Points

Between May and mid-August students prepare a 10,000 word dissertation on a topic of their choice related to their specialist LLM programme. Students are instructed through the delivery of a preparatory lecture, two supervisory meetings and a two hour dissertation planning workshop in a small group setting. Students are expected to spend considerable time on independent research throughout the course of the dissertation module, including; preparation of dissertation plan, amendment of plan in accordance with supervisory comments, preparation for the dissertation workshop, and, of course, in the final 10,000 word dissertation itself.

Detailed course information

Semester 3

Optional Courses

State Control of Hydrocarbons (LS501E)

30 Credit Points

With only limited exceptions hydrocarbons lie in the ownership or control of states but are frequently explored for and produced by commercial actors. This course considers the means by which the state controls exploitation of its oil and gas reserves. Following a number of introductory online lectures, students will participate in interactive seminars considering topics such as: from energy security to energy trilemma; national oil companies; licensing and production sharing agreements; resource curse and transparency; health, safety and environmental regulation; and decommissioning. This course is available to students registering for the LLM Oil and Gas Law programmes (Dissertation or Professional Skills).

Detailed course information

Energy and Petroleum Economics (BU5073)

15 Credit Points

This course discusses the world petroleum market in the context of overall energy markets. The main features of the evolving petroleum market are analysed including examination of the Hotelling model and Hubbert curve. Oil price determination is discussed with detailed consideration of the special characteristics of the demand and supply curves in the industry. The role of OPEC in the market is examined, including discussion of the various models of OPEC behaviour and the determinants of its market power. The economics of climate change and the place of renewable energy in the wider energy market is discussed.

Detailed course information

Corporate Finance and Accounting for Energy (BU5074)

15 Credit Points

This course ensures students understand why companies behave the way they do with respect to financing choices and how this interacts with financial markets, with particular reference to the petroleum and energy industries. The course covers Investment Appraisal Techniques Employed in the Petroleum Industry, Risk Analysis, Portfolio Theory and the Capital Asset Pricing Model (CAPM).

Detailed course information

Programme Fees

Please refer to our Tuition Fees page for fee information for this programme, or contact study@abdn.ac.uk.

Year 1

Compulsory Courses

Getting Started at the University of Aberdeen (PD5006)

This course, which is prescribed for all taught postgraduate students, is studied entirely online, is studied entirely online, takes approximately 2-3 hours to complete and can be taken in one sitting, or spread across the first 4 weeks of term.

Topics include University orientation overview, equality & diversity, MySkills, health, safety and cyber security, and academic integrity.

Successful completion of this course will be recorded on your Transcript as ‘Achieved’.

Detailed course information

Optional Courses

Investment and Real Options Analysis for Energy (BU505J)

15 Credit Points

This course provides a comprehensive journey into the intricacies of financial decision-making. By blending theory with practical applications, you will develop the skills and insights needed to navigate the ever-evolving landscape of the energy industry. This course blends theory and hands-on Excel modelling to analyse investment choices in the energy sector. Empower your employability by developing practical skills and in depth understanding on financial choices under risk and uncertainty.

Detailed course information

Contemporary Issues in Energy Economics (BU505G)

15 Credit Points

Embark on an in-depth exploration of the economic foundations shaping contemporary challenges within the energy sector. Develop a deep understanding of the challenges and opportunities inherent in sustainable resource management, sustainable development, and energy consumption. Investigate the energy ‘trilemma’, gaining insights into the roles of public and private entities. Develop the knowledge and analytical skills to meaningfully contribute to shaping the future of the energy sector.

Detailed course information

State Control of Hydrocarbons (LS501E)

30 Credit Points

With only limited exceptions hydrocarbons lie in the ownership or control of states but are frequently explored for and produced by commercial actors. This course considers the means by which the state controls exploitation of its oil and gas reserves. Following a number of introductory online lectures, students will participate in interactive seminars considering topics such as: from energy security to energy trilemma; national oil companies; licensing and production sharing agreements; resource curse and transparency; health, safety and environmental regulation; and decommissioning. This course is available to students registering for the LLM Oil and Gas Law programmes (Dissertation or Professional Skills).

Detailed course information

Economics of Energy Transition (BU555H)

15 Credit Points

Focusing on sustainability and innovation, this course offers a comprehensive understanding of economic aspects shaping the transition to cleaner energy sources. Uncover the essence of market failure within the energy sector, dissect the economic implications of environmental policies and scrutinise strategies for an inclusive transformation of the energy sector. Delve into the economic dynamics of electricity markets, evaluating the impact of energy transition on pricing and market structures.

Detailed course information

Resource Rent and Energy Policy (BU555E)

15 Credit Points

This course discusses the world petroleum market in the context of overall energy markets. The main features of the evolving petroleum market are analysed including examination of the Hotelling model and Hubbert curve. Oil price determination is discussed with detailed consideration of the special characteristics of the demand and supply curves in the industry. The role of OPEC in the market is examined, including discussion of the various models of OPEC behaviour and the determinants of its market power. The economics of climate change and the place of renewable energy in the wider energy market is discussed.

Detailed course information

Contract Law Aspects of Oil and Gas Exploration (LS554P)

30 Credit Points

A good knowledge and understanding of the commercial purpose and key features of the principal contracts used in the oil and gas industry is essential for an oil and gas lawyer. This course will examine the contracts entered into between involved in the exploration for and production of oil and gas. These include and the investment contracts entered into between the oil companies themselves in the form of Joint Operating Agreements, and those between oil and gas companies operators and the contractors making up the service and supply chain. The course will be taught by means of a mix of lectures, seminars and interactive workshops.

Detailed course information

Year 2

Compulsory Courses

Dissertation in Energy Economics and Law (EC5904)

60 Credit Points

Dissertation project for MSc Law & Economics of Oil and Gas

Detailed course information

Optional Courses

Investment and Real Options Analysis for Energy (BU505J)

15 Credit Points

This course provides a comprehensive journey into the intricacies of financial decision-making. By blending theory with practical applications, you will develop the skills and insights needed to navigate the ever-evolving landscape of the energy industry. This course blends theory and hands-on Excel modelling to analyse investment choices in the energy sector. Empower your employability by developing practical skills and in depth understanding on financial choices under risk and uncertainty.

Detailed course information

Contemporary Issues in Energy Economics (BU505G)

15 Credit Points

Embark on an in-depth exploration of the economic foundations shaping contemporary challenges within the energy sector. Develop a deep understanding of the challenges and opportunities inherent in sustainable resource management, sustainable development, and energy consumption. Investigate the energy ‘trilemma’, gaining insights into the roles of public and private entities. Develop the knowledge and analytical skills to meaningfully contribute to shaping the future of the energy sector.

Detailed course information

State Control of Hydrocarbons (LS501E)

30 Credit Points

With only limited exceptions hydrocarbons lie in the ownership or control of states but are frequently explored for and produced by commercial actors. This course considers the means by which the state controls exploitation of its oil and gas reserves. Following a number of introductory online lectures, students will participate in interactive seminars considering topics such as: from energy security to energy trilemma; national oil companies; licensing and production sharing agreements; resource curse and transparency; health, safety and environmental regulation; and decommissioning. This course is available to students registering for the LLM Oil and Gas Law programmes (Dissertation or Professional Skills).

Detailed course information

Economics of Energy Transition (BU555H)

15 Credit Points

Focusing on sustainability and innovation, this course offers a comprehensive understanding of economic aspects shaping the transition to cleaner energy sources. Uncover the essence of market failure within the energy sector, dissect the economic implications of environmental policies and scrutinise strategies for an inclusive transformation of the energy sector. Delve into the economic dynamics of electricity markets, evaluating the impact of energy transition on pricing and market structures.

Detailed course information

Resource Rent and Energy Policy (BU555E)

15 Credit Points

This course discusses the world petroleum market in the context of overall energy markets. The main features of the evolving petroleum market are analysed including examination of the Hotelling model and Hubbert curve. Oil price determination is discussed with detailed consideration of the special characteristics of the demand and supply curves in the industry. The role of OPEC in the market is examined, including discussion of the various models of OPEC behaviour and the determinants of its market power. The economics of climate change and the place of renewable energy in the wider energy market is discussed.

Detailed course information

Contract Law Aspects of Oil and Gas Exploration (LS554P)

30 Credit Points

A good knowledge and understanding of the commercial purpose and key features of the principal contracts used in the oil and gas industry is essential for an oil and gas lawyer. This course will examine the contracts entered into between involved in the exploration for and production of oil and gas. These include and the investment contracts entered into between the oil companies themselves in the form of Joint Operating Agreements, and those between oil and gas companies operators and the contractors making up the service and supply chain. The course will be taught by means of a mix of lectures, seminars and interactive workshops.

Detailed course information

Programme Fees

Please refer to our Tuition Fees page for fee information for this programme, or contact study@abdn.ac.uk.

Stage 1

Compulsory Courses

Getting Started at the University of Aberdeen (PD5506)

This course, which is prescribed for all taught postgraduate students, is studied entirely online, is studied entirely online, takes approximately 2-3 hours to complete and can be taken in one sitting, or spread across the first 4 weeks of term.

Topics include University orientation overview, equality & diversity, MySkills, health, safety and cyber security, and academic integrity.

Successful completion of this course will be recorded on your Transcript as ‘Achieved’.

Detailed course information

Optional Courses

Economics of Energy Transition (BU555H)

15 Credit Points

Focusing on sustainability and innovation, this course offers a comprehensive understanding of economic aspects shaping the transition to cleaner energy sources. Uncover the essence of market failure within the energy sector, dissect the economic implications of environmental policies and scrutinise strategies for an inclusive transformation of the energy sector. Delve into the economic dynamics of electricity markets, evaluating the impact of energy transition on pricing and market structures.

Detailed course information

Resource Rent and Energy Policy (BU555E)

15 Credit Points

This course discusses the world petroleum market in the context of overall energy markets. The main features of the evolving petroleum market are analysed including examination of the Hotelling model and Hubbert curve. Oil price determination is discussed with detailed consideration of the special characteristics of the demand and supply curves in the industry. The role of OPEC in the market is examined, including discussion of the various models of OPEC behaviour and the determinants of its market power. The economics of climate change and the place of renewable energy in the wider energy market is discussed.

Detailed course information

Contract Law Aspects of Oil and Gas Exploration (LS554P)

30 Credit Points

A good knowledge and understanding of the commercial purpose and key features of the principal contracts used in the oil and gas industry is essential for an oil and gas lawyer. This course will examine the contracts entered into between involved in the exploration for and production of oil and gas. These include and the investment contracts entered into between the oil companies themselves in the form of Joint Operating Agreements, and those between oil and gas companies operators and the contractors making up the service and supply chain. The course will be taught by means of a mix of lectures, seminars and interactive workshops.

Detailed course information

Stage 2

Compulsory Courses

Dissertation in Energy Economics and Law (EC5904)

60 Credit Points

Dissertation project for MSc Law & Economics of Oil and Gas

Detailed course information

Optional Courses

Investment and Real Options Analysis for Energy (BU505J)

15 Credit Points

This course provides a comprehensive journey into the intricacies of financial decision-making. By blending theory with practical applications, you will develop the skills and insights needed to navigate the ever-evolving landscape of the energy industry. This course blends theory and hands-on Excel modelling to analyse investment choices in the energy sector. Empower your employability by developing practical skills and in depth understanding on financial choices under risk and uncertainty.

Detailed course information

Contemporary Issues in Energy Economics (BU505G)

15 Credit Points

Embark on an in-depth exploration of the economic foundations shaping contemporary challenges within the energy sector. Develop a deep understanding of the challenges and opportunities inherent in sustainable resource management, sustainable development, and energy consumption. Investigate the energy ‘trilemma’, gaining insights into the roles of public and private entities. Develop the knowledge and analytical skills to meaningfully contribute to shaping the future of the energy sector.

Detailed course information

State Control of Hydrocarbons (LS501E)

30 Credit Points

With only limited exceptions hydrocarbons lie in the ownership or control of states but are frequently explored for and produced by commercial actors. This course considers the means by which the state controls exploitation of its oil and gas reserves. Following a number of introductory online lectures, students will participate in interactive seminars considering topics such as: from energy security to energy trilemma; national oil companies; licensing and production sharing agreements; resource curse and transparency; health, safety and environmental regulation; and decommissioning. This course is available to students registering for the LLM Oil and Gas Law programmes (Dissertation or Professional Skills).

Detailed course information

Economics of Energy Transition (BU555H)

15 Credit Points

Focusing on sustainability and innovation, this course offers a comprehensive understanding of economic aspects shaping the transition to cleaner energy sources. Uncover the essence of market failure within the energy sector, dissect the economic implications of environmental policies and scrutinise strategies for an inclusive transformation of the energy sector. Delve into the economic dynamics of electricity markets, evaluating the impact of energy transition on pricing and market structures.

Detailed course information

Resource Rent and Energy Policy (BU555E)

15 Credit Points

This course discusses the world petroleum market in the context of overall energy markets. The main features of the evolving petroleum market are analysed including examination of the Hotelling model and Hubbert curve. Oil price determination is discussed with detailed consideration of the special characteristics of the demand and supply curves in the industry. The role of OPEC in the market is examined, including discussion of the various models of OPEC behaviour and the determinants of its market power. The economics of climate change and the place of renewable energy in the wider energy market is discussed.

Detailed course information

Contract Law Aspects of Oil and Gas Exploration (LS554P)

30 Credit Points

A good knowledge and understanding of the commercial purpose and key features of the principal contracts used in the oil and gas industry is essential for an oil and gas lawyer. This course will examine the contracts entered into between involved in the exploration for and production of oil and gas. These include and the investment contracts entered into between the oil companies themselves in the form of Joint Operating Agreements, and those between oil and gas companies operators and the contractors making up the service and supply chain. The course will be taught by means of a mix of lectures, seminars and interactive workshops.

Detailed course information

Stage 3

Optional Courses

Investment and Real Options Analysis for Energy (BU505J)

15 Credit Points

This course provides a comprehensive journey into the intricacies of financial decision-making. By blending theory with practical applications, you will develop the skills and insights needed to navigate the ever-evolving landscape of the energy industry. This course blends theory and hands-on Excel modelling to analyse investment choices in the energy sector. Empower your employability by developing practical skills and in depth understanding on financial choices under risk and uncertainty.

Detailed course information

Contemporary Issues in Energy Economics (BU505G)

15 Credit Points

Embark on an in-depth exploration of the economic foundations shaping contemporary challenges within the energy sector. Develop a deep understanding of the challenges and opportunities inherent in sustainable resource management, sustainable development, and energy consumption. Investigate the energy ‘trilemma’, gaining insights into the roles of public and private entities. Develop the knowledge and analytical skills to meaningfully contribute to shaping the future of the energy sector.

Detailed course information

State Control of Hydrocarbons (LS501E)

30 Credit Points

With only limited exceptions hydrocarbons lie in the ownership or control of states but are frequently explored for and produced by commercial actors. This course considers the means by which the state controls exploitation of its oil and gas reserves. Following a number of introductory online lectures, students will participate in interactive seminars considering topics such as: from energy security to energy trilemma; national oil companies; licensing and production sharing agreements; resource curse and transparency; health, safety and environmental regulation; and decommissioning. This course is available to students registering for the LLM Oil and Gas Law programmes (Dissertation or Professional Skills).

Detailed course information