Global Oil Industry Efficiency and Productivity in the Upstream Sector

Abstract

The book addresses a crucial issue regarding the economic development of countries. The structure of the oil industry -and in particular the upstream sector, responsible for the exploration and extraction of hydrocarbons- maintains a strategic value, since a large part of the energy sovereignty of each region depends on it; the income it generates in the local and international markets affects the economic performance variables of companies and populations around the world. In this scenario, the work presented is focused on diagnosing the efficient performance of the upstream sector of each economy and on finding out whether total factor productivity means that the economy has progressed technologically and has improved the efficiency in the use of its resources, thus achieving an increase in its production by improving the combination of its factors and its production processes. This book is a valuable input for the design and implementation of a national public energy policy for the operations of the state-owned company Petróleos Mexicanos (Pemex), since it provides a tool to evaluate the role of efficiency and technological change in the productivity of the factors used, with the purpose of improving its processes and identifying the moments when it is reduced, thus being able to react in time to formulate more realistic objectives and determine the factors that contribute to improve it.