This unique book analyses all the commercial aspects of oil companies, taking into account the significant structural changes within the sector since the mid-1990s. As well as detailing the analytical techniques used to price oil equities, an up-to-date section on oil industry corporate finance explains how the competitive structure of the industry has influenced company performance and how this governs corporate conduct. Illustrated with topical examples, the book examines the structure and ownership of the industry and shows how to project pr…