Comparison of China's oil import risk: Results based on portfolio theory and a diversification index approach

Energy Policy

Volumn 37, Issue 9, 2009, Pages 3557-3565

  Wu, Gang ^a,b   Liu, Lan Cui ^c   Wei, Yi Ming ^a  

^a BEIJING INSTITUTE OF TECHNOLOGY   (China)

^b Chinese Academy of Sciences   (China)

^c NANJING INSTITUTE OF ENVIRONMENTAL SCIENCES   (China)

Author keywords

Oil import diversification; Oil import risk; Portfolio theory

Indexed keywords

AVERAGE RATE; CRUDE OIL; CRUDE OIL IMPORT; IMPORT RISK; MARINE TRANSPORT; OIL IMPORT; OIL IMPORT DIVERSIFICATION; OIL IMPORT RISK; OIL PRICES; OIL SUPPLIES; OIL TRADE; PORTFOLIO THEORIES; PORTFOLIO THEORY; PRICE RISKS; SYSTEMATIC RISK; TRANSPORT RISKS;

COSTS; EARNINGS; ENERGY MANAGEMENT; HYDRAULIC FLUIDS; HYDROCARBONS; INTERNATIONAL TRADE; PETROLEUM PRODUCTS; PETROLEUM TRANSPORTATION;

CRUDE PETROLEUM;

COMPARATIVE STUDY; ENERGY MARKET; IMPORT; OIL PRODUCTION; OIL SUPPLY; OIL TRADE;

ASIA; CHINA; EURASIA; FAR EAST;

EID: 67650217555     PISSN: 03014215     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.enpol.2009.04.031     Document Type: Article

References (21)

1. Agiobenebo, T.J., 2000. Market Structure, Concentration Indices and Welfare Cost. Department of Economics, University of Port Harcourt, Nigeria & Department of Economics, University of Botswana, Botswana.
2. China Economic Statistical Database, 2008. China Economic Information Network. 〈http://db.cei.gov.cn/haiguan.htm〉.
3. Commerce Department. China's Foreign Economic Relations and Trade Yearbook 1995/96, 1996/97, 1997/98, 1998/99, 2000, 2001, 2002, 2003. China Foreign Economic Relations and Trade Press, Beijing.
4. Commerce Department. China Commerce Yearbook 2004, 2005, 2006, 2007. China Commerce Press, Beijing.
5. General Administration of Customs of China. China Custom Statistical Yearbook 2005, 2006, 2007, 2008. General Administration of Customs of the People's Republic of China Press, Beijing.
6. EIA, 2008. Spot Prices for Crude Oil and Petroleum Products. Energy Information Administration of Department of Energy, US 〈http://www.eia.doe.gov/〉.
7. Gupta E. Oil vulnerability index of oil-importing countries. Energy Policy 36 (2008) 1195-1211
8. International Maritime Bureau (IMB), 2008. International Maritime Bureau piracy reporting centre. 〈http://www.icc-ccs.org/index.php?option=com_fabrik&view=visualization&controller=visualization.googlemap&Itemid=102〉.
9. Lesbirel S.H. Diversification and energy security risks: the Japanese case. Japanese Journal of Political Science 5 (2004) 1-22
10. Li X.G. Diversification and localization of energy systems for sustainable development and energy security. Energy Policy 33 (2005) 2237-2243
11. Nauenberg E., Alkhamisi M., and Andrijuk Y. Simulation of a Hirschman-Herfindahl index without complete market share information. Health Economics 13 (2004) 87-94
12. Neff T.L. Improving energy security in Pacific Asia: diversification and risk reduction for fossil and nuclear fuels. The Pacific Asia Regional Energy Security (1997)
13. Pandian S. The political economy of trans-Pakistan gas pipeline project: assessing the political and economic risks for India. Energy Policy 33 (2005) 659-670
14. Salameh M.G. The new frontiers for the United States energy security in the 21st century. Applied Energy 76 (2003) 135-144
15. State Statistical Bureau. China Statistical Yearbook 2005 (2005), China Statistics Press, Beijing
16. State Statistical Bureau. China Statistical Yearbook 2008 (2008), China Statistics Press, Beijing
17. Stern J. UK gas security: time to get serious. Energy Policy 32 (2004) 1967-1979
18. Tian C.R. Analysis of China's petroleum import/export in 2007. International Petroleum Economics 3 (2008) 36-44 (in Chinese)
19. Wu, G., Wei, Y.M., Fan, Y., Liu, L.C., 2005. Oil import risk analysis of main importers in the world based on HHA approach. In: Proceedings of 2005 Cross-Straits Energy-Economics Conference, Taipei, China (in Chinese).
20. Wu G., Wei Y.M., Fan Y., and Liu L.C. An empirical analysis of the risk of crude oil imports in China using improved portfolio approach. Energy Policy 35 (2007) 4190-4199
21. Wu G., Wei Y.M., and Fan Y. An empirical analysis for the import risk of China's petroleum products based on the improved portfolio approach. IEEE Transactions on Industry Applications (2008) 73-77