PETROLEUM PRODUCTS PRICES BEHAVIOR AND DEMAND TRENDS: AN ECONOMETRIC ANALYSIS

This study examines the relationship between crude oil and petroleum products prices in the European, Asian and North American markets over the period January 2005 to December 2011. We develop a statistical model, based on the long term equilibrium between the prices, which takes into account the changes in the oil product demand trends. We explain price behaviors by the impact of the demand trends. Because the refining industry which transforms crude into petroleum products is a joint product industry, petroleum product pricing is affected by demand trends both in terms of quality and quantity (2012). Consequently, the long term equilibrium between prices, estimated through a cointegration approach, are affected by several structural breaks. We also develop a panel econometric model which takes into account the relative share of each oil products in the final demand. Finally, the different results are compared to a marginal cost derived from an oil refining optimisation model. This econometric modeling approach enables a better understanding of the long term equilibrium between prices of petroleum products and crude. Methods Our objective is to model the formation of prices of petroleum products on the international markets. Among the more than twenty different products that come out of a refinery, we have selected a limited number of products for our analysis: two light cuts (gasoline and naphtha), two middle distillates (jet fuel and dieseil oil) and heavy fuel oil

Hydroclimatic vulnerability of peat carbon in the central Congo Basin: codes for age-depth models, geospatial data processing and analysis

This dataset includes two packages: Age_depth_models and Tropical_Peats for the creation of the age-depth models and the processing and analysis of the geospatial data, which are presented in the article Hydroclimatic vulnerability of peat carbon in the central Congo Basin. The package Age_depth_models includes the data and R codes to run the age/depth models of cores CEN-17.4, LOK5-5 and BDM1-7. The package Tropical_Peats (JupyterHub notebooks https://jupyter.org) includes all the codes for the processing and analysis of the climate spaces (precipitation amount and seasonality index), tropical peatland distribution and precipitation reconstruction. In summary, the data processing starts with the upload of the CHELSA data Version 1.2 (climatologies) publicly available at https://chelsa-climate.org/downloads/ and of the PEATMAP dataset (current geographical extents of peat-bearing regions) publicly available at https://archive.researchdata.leeds.ac.uk/251/. Then the data are reprojected (if necessary) and downsampled, the tropical areas are extracted, matched, analysed and ultimately plotted. Note that the sedimentary data presented in this study are available at https://doi.pangaea.de/10.1594/PANGAEA.938019