Oil demand in transportation sector in Iran: an efficiency and income asymmetric modelling approach

The transportation sector in Iran consumed about 52 per cent of oil demand in 2005. This high consumption rate of oil in the sector is fuelled by many factors including fiscal policies structural, as well as infrastructural factors. The vehicle ownership (intensity), efficiency of vehicles, public transportation, transport infrastructure, per capita income, cost of vehicle use, and fuel prices are among the factors which are shaping the trend of oil demand in this very important sector. Energy in Iran is heavily subsidized and in the transportation sector, the subsidy amounted to $3.59 billion in 1996, rising to$12.43 billion in 2005. Copyright 2007 Organization of the Petroleum Exporting Countries.

Real purchasing power of oil revenues for OPEC Member Countries: a broad currency basket and dynamic trade pattern approach

The purpose of this paper is to examine the real purchasing power of OPEC Member Countries' oil revenues, which are subject to "the value of the US dollar vis-à-vis other major currencies" and "world imported inflation". The exponential weighting average formula with a broad basket of currencies is suggested. The basket of currencies is labelled as a broad currency basket and includes the major trading partners of OPEC Member Countries. The weights are normalized OPEC import shares of the countries of the basket and are updated and adjusted every year to incorporate a gradual change in the trade pattern. In other words, the dynamic trade pattern approach is incorporated in the calculations. The nominal dollar oil revenues of OPEC Member Countries are about $5,099 billion during 1970 to 2004, of which$3,725 bn (73 per cent) have been lost due to imported inflation and the dollar's depreciation. Imported inflation and dollar depreciation have had a respective 78.6 per cent and 21.4 per cent contribution to the losses of the purchasing power of OPEC Member Countries. The imported inflation rate approaches a stable low level, but OPEC still has a lot of concerns on dollar swings. The euro offers opportunities for many oil-exporting nations that have extensive trade relations with Euro-zone countries. Payments for oil exports can be invoked in euros at the prevailing dollar-euro rate on the day of a given contract, or any other trigger formula. This would immunize a major portion of OPEC oil revenues from dollar depreciation. Copyright 2005 Organization of the Petroleum Exporting Countries.

Improving the magnetodynamical properties of NiFe/Pt bilayers through Hf dusting

We investigate the effect of hafnium (Hf) dusting on the magnetodynamical properties of NiFe/Pt bilayers using spin-torque-induced ferromagnetic resonance measurements on 6 μm wide microstrips on high-resistive Si substrates. Based on two series of NiFe(tNiFe)/Hf(tHf)/Pt(5) stacks, we first demonstrate that the zero-current magnetodynamic properties of the devices benefit from Hf dusting: (i) the effective magnetization of the NiFe layer increases by 4%–8% with Hf present and (ii) the damping α decreases linearly with tHf by up to 40%. The weaker anisotropic magnetoresistance (AMR≈0.3%–0.4%) of the 3 nm NiFe series is largely unaffected by the Hf, while the stronger AMR of the 5 nm NiFe series drops from 0.7% to 0.43% with increasing tHf. We find that the spin Hall efficiency ξSH is independent of the NiFe thickness, remaining unaffected (ξSH = 0.115) up to tHf = 0.4 nm and then decreasing linearly for higher tHf. The different trends of α and ξSH suggest that there is an optimum Hf thickness (≈0.4 nm) for which the threshold current for auto-oscillation should have a minimum, while the much lower damping should improve mutual synchronization. Our results also indicate that the spin-orbit torque is entirely damping-like with no field-like torque component. Finally, the internal spin Hall angle of Pt is estimated to be θSH = 0.22 by calculating the transparency of the interface.QC 20180911</p

Aviation fuel demand modelling in OECD and developing countries: impacts of fuel efficiency

On the quest for reducing the fuel consumption per passenger per flight for economical and environmental reasons, commercial aircraft manufacturers are implementing new strategies for optimising aircraft performance by using new lighter and stronger materials and enhancing engines' efficiencies in terms of fuel consumption and maintenance requirements. With the rising and falling of economies, whether in the Organization for Economic Cooperation and Development (OECD) countries or other developing countries, the aviation industry has been affected by multiple factors such as passenger traffic, freight traffic, airport capacities and oil prices. Aircraft manufacturers have worked on improving the engine efficiency of their newly built airplanes (e.g. Airbus's A-380 and Boeing's B-787), and many airports in the world have increased the number of their runways to face the increasing demand for air traffic in the world. Aviation efficiency can also be achieved through better load management, which in return enables airliners to cope with higher oil prices or rising costs. Aviation fuel demand is modelled in OECD North America, Europe and Pacific regions and some selected developing countries. Price elasticities of fuel demand in all regions are low, while income elasticities are high. The elasticity of aviation fuel demand on passenger kilometre performed (PKP) is considerably low. One per cent increase in PKP leads to less than half a per cent increase in aviation fuel demand, confirming an ongoing fuel efficiency in aviation industry. Copyright 2009 The Authors. Journal compilation 2009 Organization of the Petroleum Exporting Countries.

Fuel demand and car ownership modelling in India

Motorisation in Asia is soaring with rapid growth in incomes non-lin-early. Even though car ownership per 1,000 population is still low in countries like China, India or Indonesia, escalating number of cars is affected by GDP growth among other infrastructural factors in a non-linear manner. This quick growth in car ownership may represent a significant implication on road transport fuel demand. This paper forecasts the demand for road transport fuel in India. For this purpose, econometric models, based on time series data, are constructed as for a major factor affecting fuel demand in road transportation i.e. car ownership. Copyright 2007 Organization of the Petroleum Exporting Countries.