Module Descriptions

Advanced Seminar in International Dispute Settlement

Provides students an opportunity to discuss some of the most advanced and topical issues of theoretical and practical significance in the field, thereby serving as a logical way of concluding the academic year for those who are specializing in the field. It is conceived as the “crown” at the end of a sequence of introductory, overview and then more specialised and practical courses on international dispute resolution, commercial arbitration and investment arbitration. (CP52045/10 credits)

Applied Nuclear Energy Law

The main objective of this course is to provide information and guidance on the techniques used by legislators and regulators to govern the uses of nuclear energy and, in particular, to introduce into domestic law the norms embodied in international instruments and regulations (soft law) since these constitute the principal sources of this special branch of law. While the Course will focus on the case of UK nuclear legislation, several other national laws will also be covered as well as the issue of the transposition of EC nuclear regulations, with a view to offer a comprehensive picture. (CP52049/20 credits)

Business and Human Rights Law and Policy In Oil, Gas and Mining

The primary aim of this module is to provide an in depth understanding of the content of international human rights law and policy as it applies to the oil, gas and mining industries. (CP52067/20 credits)

Business Strategy in the Extractive Industries

The main objective of the course is to provide an inter-disciplinary framework for the strategic analysis of firms and markets in the extractive industries. Drawing on core topics in the MBA curriculum, in particular on the ‘Strategic Management and Organisational Analysis’ module, this module uses the field of corporate strategy to provide a series of opportunities for integrated analysis of strategies applied in the extractive industries. (CP52041/20 credits)

Climate Change Economics and Policy

The module aims to provide an in-depth understanding of:

• the climate change problem from an economic perspective;
• the impacts of climate change on the energy sector and other economic activities;
• economic and other instruments to deal with the problem;
• policy issues and options to deal with the climate change problem, with a special emphasis on the energy sector.

The module will be interdisciplinary in nature and will be accessible to students of various educational backgrounds.

Commercial Contracts in the International Oil and Gas Industry

The overall aim of the course is to provide students with a basic understanding of the important forms of company-company contracts in the international oil and gas industry. These contracts will include operator-nonoperator; farmor-farmee; buyer-seller contracts. The course will identify primary negotiation issues and provide alternative approaches to addressing these issues. (CP52014/10 credits)

Commodity Trading and Strategic Asset Optimisation in the Energy Industry

The main objective of this course is to help students to understand commercial strategies currently utilized in the energy trading and marketing industry. The module will give a basic introductory overview, and practical applications of the financial and economic theories, and methodologies utilised in real and financial trading activities, options pricing, real options valuation techniques and asset optimization.

The module uses FINCAD. FINCAD is a global provider of financial analytics and derivatives management solutions, enabling market participants to make informed hedging and investment decisions and comply with financial standards, including hedge accounting. (CP51021/10 credits)

Corporate Social Responsibility and International Business Transactions

This module aims to provide students with practical knowledge and theoretical understanding of corporate social responsibility (CSR) so that students can integrate responsible business practices into all levels of corporate operations. Students will learn to deliver practical solutions to issues in the CSR debate, with learning from case studies, corporate sector experts and academic research.  (CP52037/20 credits)

Critical Business Analysis & Report

The Critical Business Analysis & Report builds on the academic skills developed in the CEPMLP MBA programmes and will provide the opportunity for students to link these with previous experience to develop and integrate critical skills of research and analysis in the practical context of a business related project. (CP50039/40 credits)

Downstream Energy Law and Policy

Downstream energy law and policy is concerned with the structure and regulation of gas and electricity markets. With the advent of liberalisation, most gas and electricity markets have become semi-competitive. There are regulatory structures to control entry to the market. There are rules on how the producers / generators interact with the suppliers – either bilateral markets or pools. There are rules for producers / generators which get special treatment – frequently state-owned companies and renewable generators. There are measures to control security of supply. There are measures dealing with pass through of costs – and attempts to ensure that the consumer price does not reach unacceptable levels. The course looks at regulatory structures – the role of government; the role of the independent regulator; the role of the market operator and the transmission system operator. The course looks at the options for structuring liberalised and semi-competitive markets. It looks at measures to reduce investment risks for additional capacity. It recognises that the position of capacity short markets is different from that of markets with capacity excess – even if in the long term, both ultimately want the same thing…cheap and reliable delivery of the commodity. (CP51002/20 credits)

Economics for Business Managers

The module is aimed at presenting and developing practical applications of economic theory and analytical tools to business decisions. The emphasis is on the study of the production decisions, the interaction of firms in different market structures, and the international financial market. Real world examples from the energy industries will be utilized to demonstrate the theoretical models developed in the class. (CP52052/20 credits)

Economics of Electric Power

The aims of the module are to convey an economic and institutional knowledge of the electric power sector, and to develop the capacity for analysing the economic and policy issues of the electric power sector. The intended learning outcomes of the module are an understanding of the workings of the electric power industry and its economic fundamentals; and the skills to evaluate power system resources and their implications for competition or regulation. The module is designed for an interdisciplinary audience. It is delivered through lectures, problem sets, and virtual direction. It is assessed through the problem sets, an essay, and an examination. A familiarity with microeconomics principles or numerical techniques is not required but would be helpful. (CP52071/20 credits)

Economics of Regulation and Restructuring of Energy Industries

This main aim of the module is to introduce students to the rational for and methods of economic regulation in energy and infrastructure industries, such as the rate-of-return regulation, price-cap regulation and franchise bidding; the issues related to regulation and deregulation; and the reasons for and pathways of restructuring of energy industries. It draws upon recent theoretical and empirical advances in public economics and industrial organization, and is intended to provide students with an analytical framework for regulatory and public policy analysis and a rigorous foundation for further study. (CP52033/20 credits)

Energy and Climate Change Law and Policy

On successful completion, a candidate will:
(1) have an understanding of international law relating to climate change obligations
(2) have an understanding of regional mechanisms relating to climate change obligations
(3) have an understanding of the variety of national approaches to climate change mitigation be able to discuss climate change obligations in the context of the legal requirements for mitigation (CP52058/20 credits)

Energy and Mining Finance

The primary aim of the course is to provide a detailed consideration of the theory of finance as it applies to the energy and mining industries and to consider how the theory is applied in practice. The two key focus areas will be investment decision making with uncertainty and how the investment demands are financed. (CP52015/20 credits)

Energy Economics: The Issues

The aims of the module are to introduce the economic principles relevant for the energy sector, and to highlight some of the most challenging economic issues facing the global energy complex. The intended learning outcome of the module is an understanding of how economic analysis informs the national and international debates on energy sector issues, and how economics research affects energy sector decisions made by industry or government. The module is designed for an interdisciplinary audience. It is delivered through lectures and virtual direction. It is assessed through class participation, a research paper, and an examination. A familiarity with microeconomics principles or numerical techniques is not required but would be helpful. (CP52002/20 credits)

Energy Economics: The Tools

The aims of the module are to introduce the economic principles relevant for the energy sector, and to provide an overview of the tools typically used in performing economic analysis on the energy sector. The intended learning outcomes of the module are an understanding of the essential concepts and frameworks central to the operation and expansion of the energy sector, their economic implications, and the basic economic tools for analysing them. The module is designed for an interdisciplinary audience. It is delivered through lectures, computer laboratory work, and virtual direction. It is assessed through class participation, a research paper, and an examination. A familiarity with microeconomics principles or numerical techniques is not required but would be helpful. (CP51003/20 credits)

Energy, Environment and Sustainable Development - Economics and Policy Issues

The aim of this course is to help students to understand: the interactions between energy, environment and the climate; economic and other instruments to deal with energy-environment problems; the role of energy in achieving sustainable development; policy issues and options related to energy, environment, climate change and sustainable development. The course will not require any prior knowledge of economics. (CP51023/20 credits)

Environmental and Climate Change Economics and Policy

The module aims to provide students essential analytical tools and a multidisciplinary understanding of environmental and climate change issues as they relate to global energy use.  (CP51041/20 credits)

Environmental Law and Policy for Natural Resources and Energy

The course deals with selected issues central to understanding international and national environmental policy and law related to production and consumption of natural resources and power generation. It addresses, in particular, environmental problems arising in connection with production and transportation of petroleum (both on-land and offshore), mining activities, use of nuclear energy, including production of uranium and disposal of radioactive wastes, and use of fossil fuels, including transboundary air pollution and global climate effects. A special emphasis is placed on the solutions for environmental problems provided by various national regulatory systems, in particular British and North American.  (CP52003/20 credits)

Extractive Industries Revenue Management

The module is designed to provide students with an understanding of the challenges and opportunities facing countries with major oil, gas and/or mining resources. The course will examine the nature and extent of the “Resource Curse” or “Paradox of Plenty”, technical and political causal factors, possible remedies and the role of different stakeholders in their implementation.  (CP52040/10 credits)

Financial and Project Analysis of Natural Resources and Energy Ventures

The main aim of this course is to introduce students to current methods of financial and project appraisal techniques that relate to natural resources and energy organisations. This is a practical course in which evaluation techniques and concepts are taught, such as discounted cash flow, internal rate of return and payback period, which are applied to realistic scenarios, leading to the preparation of spreadsheets, their analysis and interpretation of results. The student should be able to recommend the appropriate appraisal techniques to a given business investment along with an appreciation of social and other non-financial features. Taxation and sources of finance are also introduced in this module, but any in-depth analyses of them can only be provided in other courses. (CP51004/20 credits)

Foundation Accounting

The principle aim of this course is to give an appropriate understanding of the published accounts of a company and their underlying practices and processes, so that an effective contribution may be given, to the senior financial management of an organisation. Particular emphasis is given to accounts of the extractive industries. (CP52048/20 credits)

Foundation Finance

This module will introduce students to the complexities of business finance and aim to give them an understanding of the issues business managers in the energy and extractive industries are required to consider in the decision-making process. All managers, in all types of organisations, have to be constantly aware of the financial implications of decisions being made, including sources and cost of finance, return on investment, management of working capital requirements and of associated business and financial risk. The module is designed to give students an appreciation of the financial management issues they will confront as managers and to give them the confidence in the understanding of finance to be able to ensure the correct financial information is available to them to allow for well informed decision making. (CP52051/20 credits)

Foundation Financial Accounting

The principal aim of this course is to give an appropriate understanding of the published accounts of a company and their underlying principles, so that an effective contribution may be given to the senior financial management of an organisation. Particular emphasis is given to accounts of the extractive industries. (CP51036/10 credits)

Human Resources Management

This course aims to provide students with a strategic understanding and key skills in managing people in organizations. It focuses on the core human resource problems faced by all organizations, including culture change, the contribution of human resources to organizational performance and change, and the developing role of information and communication technologies (ICT), recruitment, selection and retention, human resource development and managing knowledge, motivation and performance management, compensation and rewards, the design of work, and employee relations.  (CP51016/20 credits)

Human Rights and the International Natural Resources Industry

The primary aim of the course is to provide an understanding of the main issues in the field of human rights as they affect the energy and mineral resources industry. It helps prepare the Centre’s students for an emerging field of law practice, advising corporations and host country governments on policies and laws dealing with communities affected by mining and development of energy and natural resources. The focus on mining and minerals development (including petroleum) will be located within a broader framework of foreign investment and the role of corporations in social development. The course will examine the different policy and legal instruments affecting corporations and their relationships with communities. (CP52017/20 credits)

Implementation of Climate Change Obligations

On successful completion, a candidate will:
(1) Understand the impact and effect of soft law (international law) obligations relating to climate change and impact on energy sector and energy policy
(2) Understand the enforcement mechanisms of regional and national climate change mitigation schemes
(3) be able to discuss enforcement and implementation of climate change obligations relating to energy  (CP52057/20 credits)

International and Comparative Mineral Law

This module aims at introducing participants to main principles and concepts of legal, regulatory and contractual regimes for mining, from international and comparative perspectives and within a sustainable development framework. The focus is on the understanding of ownership and mineral tenure regimes; the interface between mineral tenure regimes, competitive uses of land and environmental regulation; forms and typical clauses of mining agreements; CSR, scope and implications of voluntary regulation; an introduction to underlying conflicts for the regulation of artisanal and small-scale mining; and methods for, and trends on, community engagement in mining projects. (CP52010/20 credits)

International Arbitration

To provide the candidate with an overview of the law and practice of international arbitration as a major means of settling international disputes. The course will be taught comparatively with reference to various international laws, the arbitration rules of UNCITRAL, the rules of leading arbitration institutions (e.g. AAA, ICC, LCIA, ICSID), and the major international instruments relevant to international arbitration. (CP51019/20 credits)

International Arbitration: Practical Exercises

To enable students to understand the evolving complex practical issues of international arbitration, in the context of both investment relationships between states and foreign investors as well as those between parties to normal commercial contracts, faced by lawyers as counsel to the parties and as arbitrators and to equip them with the necessary skills on how to handle such issues. (CP52065/20 credits)

International Commercial Arbitration: Practical Exercises

To help students to understand the complex practical issues of commercial arbitration faced by arbitrators and lawyers and to equip them with the necessary skills on how to handle such issues. (CP52035/10 credits)

International Developments in Energy Policy

The main aim is to equip the students with an understanding of how economic analysis can help inform and understand energy policy issues. This requires the students to be familiar with the relevant economic analysis the technical dimensions of energy and the policy making process. In addition the course enables the student to become familiar with current issues in energy policy. (CP52005/20 credits)

International Dispute Settlement

The main objective of this course is to provide students with an understanding of the nature and forms of international disputes and the different mechanisms of addressing such disputes in an amicable manner. (CP52020/20 credits)

International Investment Arbitration: Practical Exercises

To help students to understand the evolving complex practical issues of international investment arbitration between states and foreign investors faced by lawyers as counsel to the parties and as arbitrators and to equip them with the necessary skills on how to handle such issues. (CP52036/10 credits)

International Law of Natural Resources and Energy

The main objective of the course is to provide an introduction to the fundamental concepts and specific legal and jurisdictional issues in the field of international and transboundary natural resources. The emphasis is on ensuring a proper understanding of the existing legal mechanisms and international regimes applicable to various types of natural resources located beyond States’ jurisdiction or control.  (CP51007/20 credits)

International Nuclear Energy Law

The main objective of the course is to provide a comprehensive introduction to the international legal and institutional framework in the area of peaceful uses of nuclear energy. The course will provide a practical understanding of the regulatory frameworks applicable to nuclear energy, with particular emphasis on relevant legal and institutional mechanisms for regulation of health and safety, nuclear transports, waste management, civil nuclear liability and international legal framework. It aims to cover the policy and legal aspects of the entire nuclear fuel cycle, and covers international trade in nuclear material, nuclear security and terrorism, as well as a general introduction on non-proliferation of nuclear weapons and international safeguards. (CP51025/20 credits)

International Nuclear Politics

The purpose of the course is to provide a detailed introduction to the policy issues raised by the uses of nuclear energy. The course will embrace the historical development of nuclear power and the influence it has had on international relations and institutions; the international negotiations concerning, in particular, non-proliferation of nuclear weapons and efforts at disarmament; nuclear security and terrorism; access to nuclear technology, equipment and material; governance of nuclear trade; nuclear energy and the protection of the environment; nuclear energy in the European Union; the prospects of a nuclear “renaissance”. (CP51024/20 credits)

International Petroleum Law and Policy

The main objective of the module is to provide an understanding of the main law and policy issues in the international petroleum industry, with an emphasis upon transactional agreements concluded between host government and oil company/investors.
Common and diverging objectives between the two parties and indeed among the international corporate and financial investors themselves are faced in a candid and practical way, with an emphasis upon ways of accommodating the interests of diverse stakeholders in the development of petroleum resources.
A brief introduction is provided to petroleum taxation issues. The module focuses upon problem-solving techniques in a variety of settings, noting the inputs of lawyers, economists, accountants, engineers and geologists. (CP51005/20 credits)

International Relations and Energy and Natural Resources

The main objective of this course is to help the students to understand the int’l environments and of the interaction between international relations (IR) and energy and natural resources industry. This module, together with International Political Economy, is being introduced in order to provide an important political element to the MBA, LLM and MSc Programmes in general, and to form an important part of the specification of Geopolitics of Energy in particular. (CP52008/20 credits)

International Trade Law

The main objective of this course is to provide students with an understanding of the overall regulatory framework within which international business transactions take place. This includes an understanding of international treaties regulating cross-border trade relations and the operation of pertinent international organisations administering those treaties, particularly the WTO. The course approaches most issues from a natural resources perspective. (CP51010/20 credits)

Introduction to Finance

This module will introduce students to the complexities of business finance and aim to give them an understanding of the basic financial issues business managers in the energy and extractive industries are required to consider in the decision-making process. All managers, in all types of organisations, have to be constantly aware of the financial implications of decisions being made, including sources and cost of finance, return on investment and the effective management of working capital requirements. The module is designed to give students an appreciation of issues of this nature they will confront as managers and to give them the confidence in the understanding of finance to be able to ensure the correct financial information is available to them to allow for well informed decision making.  (CP52056/10 credits)

Leadership and Decision Making

The aim of this module is to develop a critical insight into the role, responsibilities and competences of leadership within the oil and gas business contexts. The module further seeks to create a critical awareness of current theory and practice in leadership and decision making.  (CP52060/20 credits)

Legal Framework for International Project Finance

Project financing is a tool, not an outcome in itself. This course recognises that energy projects are frequently financed by lenders. Where the lenders are content to accept repayment solely from the revenues of that project – not from the wider revenues of the sponsor – there is a limitation of recourse (or at the extreme an absence of recourse). That is project financing. The course looks at how various types of energy project can be structured to achieve that goal. The bank is not an equity risk taker – its business is to take credit risks. Project finance will force the bank to take a degree of project risk, so the bank will demand a contractual structure which mitigates that risk exposure. The course is concerned with understanding the risks for various energy projects – oil development; gas development; power generators; mining projects etc – and seeing how the principle risks inherent in those projects are moved by contract to the party best able to bear the risk. The course understands that where the bank is happy with the project risk profile, it will lend. If the bank is not happy with the project risk profile, it will not lend. The course looks at the risks which can be moved and how are they moved to a party acceptable to the lender – whilst at the same time ensuring that the holder of that risk is happy with the level of payment for taking that risk. (CP52007/20 credits)

Management in Energy and Natural Resources Industries

The aim of this module is to develop the student’s critical understanding and application of models, approaches and tools for the management of complex energy and natural resources. The module examines the behaviours, contemporary influences and dilemmas within the practice of management in knowledge intensive organisations. (CP51035/20 credits)

Marketing

Acquire knowledge of current theories in marketing and understand their application to corporations in the public and private sectors in a global context. (CP52025/20 credits)

Mineral and Petroleum Taxation

This module will provide students with foundation knowledge on how taxes and non-tax instruments are used by governments and the extractive industry to promote natural resource development while deriving revenues for the state and profits for extractive firms. Emphasis is on providing an understanding of the complex issues of tax regimes and the skill to analysis current topics or controversies, with the objective of providing competent strategy or policy advice to either governments or resource firms. Students will be prepared to compare and evaluate alternative taxation regimes, including environmental and international tax issues. Some topics covered in the module include; resource rent taxation, royalties, direct and indirect taxes, general structure of PSAs/PSCs, transfer pricing, and current issues from around the world. This module does not teach skills in accounting, financial analysis or tax law. (CP52009/20 credits)

Mineral Resources Policy and Economics

All too often mineral policies are developed without any proper understanding of the economic forces which influence all aspects of the mineral industries. Unless they work with those forces, rather than against them, policies are doomed to fail, no matter how well-intentioned or desirable they might appear. Whilst the various sectors of the hard-rock mineral industries share common features, each is influenced by different factors. This course explains, in a straightforward and common sense fashion, the main characteristics of the major sectors and the many forces working on demand, supply and prices. It is often overlooked that mining is primarily an economic activity. The lectures and notes bring out the various conflicting aims and objectives of all concerned with the industries and give an overall view of the economic context for all the legal and policy issues facing the minerals industry without becoming unduly enmeshed in whatever is presently of fashionable concern. (CP52022/20 credits)

National and Comparative Oil and Gas Law

The module aims to provide an understanding of the regulatory and contractual mechanisms required to make a single jurisdiction work in relation to petroleum law. The emphasis is on providing the student with knowledge and understanding of the differences (and similarities) between regimes based on licences, and those based on production sharing contracts.
All oil and gas law throughout the world is the same at a basic level – international law determines which state is entitled to the resource; the entitled state grants rights to individuals to extract the resource; the individuals agree amongst themselves as to how to split the costs and benefits; there is unitisation if necessary; the production is taxed; pipelines etc are built to move the production; the production is sold; and the facilities are ultimately decommissioned. This module aims to show the different models states adopt to facilitate petroleum production, including showing the role for state companies. (CP51039/20 credits)

Natural Resources Sectors: A Multidisciplinary Introduction

The aim of the module is to provide foundational understanding of key disciplines supporting an analysis of the energy and natural resources sectors. The programme delivers essential introductory studies in law, economics, geology and finance enabling students to effectively engage with a multidisciplinary framework of studies underpinning all taught postgraduate degrees within the Graduate School of Natural Resources, Law, Policy and Management.  (CP50001/20 credits)

Oil and Gas law - Commercial Contracts Matrix

On successful completion, a candidate will:
(1) have an understanding of the structure and purpose of a range of commercial oil and gas agreements
(2) have an understanding of the process of creation of the agreements and differences caused by the relative size of the parties
(3) have an understanding of the standard forms and master drafting styles for the agreements
(4) have an understanding of the linkage between the agreements - the flow of risk and reward  (CP52059/20 credits)

Petroleum Policy and Economics

The aim of this module is to equip students with the economic, technical, and institutional knowledge for understanding the working of the international petroleum industry and to develop students’ capacity in analyzing the economic and policy problems associated with international oil and gas markets. The module is organized along the petroleum product value chain, such as exploration and development, production, refining and marketing, and natural gas monetization. By completing this module, students should have the knowledge and understanding of demand, supply and price dynamics of oil, gas and refined petroleum products and the skills to analyze trends and issues in oil and gas markets and to evaluate petroleum projects, contracts, and policies. The module is designed for an interdisciplinary audience and will not require a background in economics. (CP51009/20 credits)

Politics of the Environment and Climate Change

The module aims to enhance students’ understanding of the interplay between the politics and the environment, and climate change governance.

It attempts to address the politics of the environment and climate change in the context of global politics. The key issues under discussion include the core characteristics of environmental problems, the theories that explain the environmental policy-making, the power and institutions behind the policy-making, and the implications of the policy pursued so far by the major economies.  (CP52061/20 credits)

Project Management Processes

The module is designed to introduce students to the processes and skills involved in designing, scoping and managing complex projects within the constraints of time, budget, specification and customer satisfaction. (CP52055/20 credits)

Public Policies for Resource-Based Development

This module provides students with an understanding of the typical policy challenges faced by countries endowed with natural resources and a critical awareness of the proposed causal mechanisms explaining variation in outcomes across these countries. The course covers the resource curse debate, theoretical approaches to public policy analysis and the practical policy challenges of turning resource wealth into positive development outcomes. (CP51026/20 credits)

Quantitative Methods for Energy Economists

The main objective of this course is to equip students with a basic understanding of statistical concepts, quantitative methods and econometric tools utilized in analysing energy markets. The module will give an introductory overview and practical applications of statistical theories and quantitative methods utilized in analysing energy markets and industry.  (CP52069/20 credits)

Renewable Energy: Technology, Economics and Policy

The aim of this module is to:
To develop an understanding of renewable energy resources and the numerous technologies that converts it into useful forms.
To develop an understanding of the economic issues of renewable energy research, development and deployment at both private and commercial scale.
To develop an understanding of government and industry policies to encourage the deployment of renewable energy production and use.  (CP52063/20 credits)

Risk and Crisis Management

The aim of the module is to develop the student´s critical understanding and application of approaches, perspectives, practices of crisis & risk management, their connection to decision making & development of management policies in business, placing emphasis on energy organizations/companies.  (CP52070/20 credits)

Stakeholder Management and Business Ethics

The aim of this module is to develop a critical insight into the key concepts and theories of business ethics. The module further seeks to create a practical insight into the application of stakeholder management to oil and gas business contexts. (CP52062/20 credits)

Strategic Management and Organisational Analysis

This module will encourage a critical and reflexive orientation to the understanding of successful approaches to strategic management and organisational analysis and develop understanding of the requirements for effective executive and organisational analyses and decision making in an increasingly complex and uncertain business environment. The module will develop an appreciation of basic concepts and essential strategic and organisational management tools for understanding data and analysing decisions. Students will learn the analytic skills needed to accomplish, defend and critique a business analysis.  (CP52044/20 credits)

Transatlantic Negotiation Simulation Exercise

The Transatlantic Negotiation Exercise will be carried out between the Masters students at the CEPMLP and the post-graduate students at the Washington College of Law of the American University, International Legal Studies Programme.

The main aim of this module is to provide a formal forum in which using tried and tested methods of international negotiations, in a detailed form, the participants can gain or improve their negotiating skills.  (CP52064/20 credits)

Transnational Investment Law and Policy

The main objectives of this course are to provide a survey of international investment law and policies, and to set the various approaches to regulating foreign investment in a social, economic and political context. In addition the course will provide students with an understanding of current and emerging developments in investment laws and policies. (CP52023/20 credits)

Transnational Legal Problems Facing Extractive Industries

This course has two aims: (1) to develop a solid understanding of the applicability, and application, of multiple sets of legal norms (domestic/international; public/private) to the extractive industries; (2) to develop skills for addressing key legal issues facing the extractive industries in the various stages of contracting and investing and the manner in which problems and options can be analysed and addressed. (CP52066/20 credits)

Mining Agreements

To provide the student with the basic legal tools needed for structuring mining transactions, to understand main factors influencing the choice of alternative structures, and the contents and drafting of main contractual forms used in the mining industry. (CP52027/10 credits)

Modern Practice in Petroleum Licensing

Year by year the scale and diversity of investment in the upstream petroleum industry will grow. All co-operants, the representatives of the Host Government and the private landowners, as well as the International Oil Companies, the IOC's and moreover the Host Communities affected by the licensing process will need to have a comprehensive understanding of the geopolitical, legislative, contractual and regulatory matters that inform today's oil industry. Major new issues affecting all in the industry include the impact of Islamic Law and the growing demand for recognition of the rights of host communities. The aim of the module is to provide an introduction to these issues from the perspective of a practitioner. (CP52021/10 credits)

World Fiscal Systems for Petroleum Investment

The aim of this course is to provide students with advanced skills and understanding to carry out detailed and quantitative analysis of fiscal systems for petroleum, and to use this understanding to evaluate risk and provide a sound basis for economic decision-making. (CP52024/10 credits)

Directed Reading

The aim of a Directed Reading is to allow a student to carry out a piece of research in a field which is of particular interest to the student, is relevant to their programme of study but which is not available as a formal part of the syllabus. (CP51014/10 credits)

Directed Reading

The aim of a Directed Reading is to allow a student to carry out a piece of research in a field which is of particular interest to the student, is relevant to their programme of study but which is not available as a formal part of the syllabus. (CP51015/20 credits)

Dissertation

The dissertation contributes to the achievement of the aims of the Masters degree namely:- to promote a deeper and critical understanding of selected areas relating to the specialisation of the student; to develop originality of thought and skills of research, analysis, argumentation and expression; to build upon, develop and integrate the knowledge and skills acquired in the taught modules.

A dissertation of up to 15,000 words on a topic approved by an academic supervisor (CP50003/40 credits)

Extended PhD Proposal

The Extended PhD proposal contributes to the achievement of the aims of the Masters degree namely:- to promote a deeper and critical understanding of selected areas relating to the specialisation of the student; to develop originality of thought and skills of research, analysis, argumentation and expression; to build upon, develop and integrate the knowledge and skills acquired in the taught modules. In addition, the PhD proposal should provide the basis for significantly more specialised and detailed research to be undertaken as part of the PhD programme.

Students who propose to follow up their degree with a PhD may, with the approval of an academic supervisor, submit a 10,000 word PhD proposal. (CP50004/40 credits)

Internship

The internship provides the student with the opportunity to apply in the workplace the knowledge and skills learnt at CEPMLP and to learn how professionals in the field perform their tasks.

Students who choose this option are required to source an organisation willing to offer a 3-month work placement, approved by an academic supervisor. The Internship includes the submission of a written report as part of the assessment. (CP51012/20 credits)

Internship

The internship provides the student with the opportunity to apply in the workplace the knowledge and skills learnt at CEPMLP and to learn how professionals in the field perform their tasks.

Students who choose this option are required to source an organisation willing to offer a 3-month work placement, approved by an academic supervisor. The Internship includes the submission of a written report as part of the assessment. (CP51013/40 credits)

Accounting

 (CP50024/20 credits)

Downstream Energy Law and Policy

Downstream energy law and policy is concerned with the structure and regulation of gas and electricity markets. With the advent of liberalisation, most gas and electricity markets have become semi-competitive. There are regulatory structures to control entry to the market. There are rules on how the producers / generators interact with the suppliers – either bilateral markets or pools. There are rules for producers / generators which get special treatment – frequently state-owned companies and renewable generators. There are measures to control security of supply. There are measures dealing with pass through of costs – and attempts to ensure that the consumer price does not reach unacceptable levels. The course looks at regulatory structures – the role of government; the role of the independent regulator; the role of the market operator and the transmission system operator. The course looks at the options for structuring liberalised and semi-competitive markets. It looks at measures to reduce investment risks for additional capacity. It recognises that the position of capacity short markets is different from that of markets with capacity excess – even if in the long term, both ultimately want the same thing…cheap and reliable delivery of the commodity. (CP50033/20 credits)

Economics

 (CP50026/20 credits)

Energy Economics: The Issues

This is a module in applied economics that applies economic analysis to energy sector issues. Various contemporary and traditional issues faced by the energy sector such as competition versus state control in the sector, pricing, regulation, environmental challenges, economics of renewable energies, as well as issues like high energy prices, energy security, energy sector reform and energy investments are considered. The aim is to familiarise the students with economic concepts and their applications to analyse and appraise the energy sector issues and policies. The module provides an international perspective and allows students to appreciate the challenges in a logical manner. (CP50037/20 credits)

Energy Economics: The Tools

This module introduces the tools relevant for the economic analysis of energy sector challenges. The module introduces energy data and tools for demand analysis as well as the demand-side management. Similarly, it also presents the concepts for energy investment analysis and tools for analysing fossil fuel and electricity supply. Finally, it introduces the integrated analysis of supply and demand-sides. The aim of the module is to help students understand the essential tools that are required to gain a good understanding of energy economics. Students get an opportunity to see how various approaches and methods are used to deal with decision making problems in the energy sector. (CP50038/20 credits)

Energy, Environment and Sustainable Development – Economic and Policy Issues

This module focuses on energy-environment interactions and highlights the role energy plays in ensuring sustainable development. The module introduces the key economic concepts used to analyse energy-environment interactions and applies them to stationary and mobile sources of pollution to bring out the effects, policy challenges and to analyse alternative measures that have been used to address these issues. The module also introduces to the economics of climate change and the Clean Development Mechanism. The aim of the module is to allow students to consider the energy-related environmental issues and policies from an economic perspective. The module provides an international outlook and helps gain a broad understanding of various energy-induced environmental challenges and policies.  (CP50047/20 credits)

Environmental Law and Policy for Natural Resources and Energy

This is a tailor-made course specifically designed for those students who specialise in energy and natural resources law and policy. The module is based on a transnational approach: it combines elements of international and comparative environmental law and deals with selected issues central to understanding legal and policy issues related to extractive industries and power generation. It addresses, in particular, environmental impacts and aspects of on-land and offshore exploration, production and transportation of petroleum, mining operations, nuclear energy safety and disposal of radioactive waste, and use of fossil fuels, including transboundary air pollution and global climate effects. A special emphasis is placed on examining various environmental tools (such as standards, EIA, environmental managements systems) that provide solutions of environmental problems in different national regulatory systems, both developed (UK and USA) and developing. (CP50012/20 credits)

Finance

 (CP50025/20 credits)

Financial and Project Analysis for Natural Resources and Energy Ventures

The main aim of this course is to introduce you into current appraisal techniques and concepts that relate to natural resources and energy organisations. It focuses on the internal investment decision from the perspective of the operational manager. The key starting point is the question: how can companies create value through sound investment decisions in order to support the business? As a result, we are concerned with the deployment of finance, rather than how it is generated from the financial markets.
This is a practical course in which evaluation techniques, such as discounted cash flow analysis, are applied to realistic scenarios, leading to the preparation of spreadsheets, their analysis and interpretation of results. The objective is the capability to recommend appropriate appraisal techniques to a given business investment, along with an appreciation of social and other non-financial features, underpinned by a basic understanding of the principles of risk analysis. (CP50041/20 credits)

Foundation Financial Accounting

This 10 credit course introduces the subject of financial accounting for non-accounting master’s students. It is specific to financial accounting, in that its focus is to provide a basis for the successful student to enter into management decision making processes involving the final accounts of an organisation, particularly within the extractive industries. For example, the analysed published accounts are all from the oil, gas and mining sectors, thus requiring an understanding of specific financial reporting characteristics, unique to them.
To meet the above prime objectives, the course is directed to the understanding and interpretation of accounts, rather than on their preparation. However, in order to effectively do so, there has to be an appreciation of their development, so some practical accounting work is included. In this short course, the topic of management accounting is not included. (CP50042/10 credits)

Human Resources Management

This module aims to provide students with a strategic understanding and key skills in managing human resources more effectively in the energy and extractive industries. It focuses on the core human resource problems faced by all organizations, including culture change, the contribution of human resources to organizational performance and change, and the developing role of information and communication technologies (ICT), recruitment, selection and retention, human resource development and managing knowledge, motivation and performance management, compensation and rewards, the design of work, and employee relations. (CP50046/20 credits)

International and Comparative Mineral Law

The module provides an introduction to the main legal and policy issues in the mining industry, with an emphasis on the common methods within which mining is regulated. The approach is a comparative one and focuses on techniques applicable in various settings and countries, noting the influence of law, economics, finance, technical aspects and geology. Students will acquire understanding of the key law and policy issues relating to the regulation of mining, including the ownership of minerals and application for rights to mine; and the effects that mining can have, on environment and communities, and how these are addressed. (CP50040/20 credits)

International Law of Natural Resources and Energy

The main objective of the course is to provide an introduction to the fundamental concepts and specific legal and jurisdictional issues in the field of international and transboundary natural resources. The emphasis is on ensuring a proper understanding of the existing legal mechanisms and international regimes applicable to various types of natural resources located beyond States’ jurisdiction or control.  (CP50048/20 credits)

International Petroleum Law and Policy

The main objective of this module is to provide an understanding of the main law and policy issues in the international petroleum industry, with an emphasis upon transactional agreements concluded between host government and oil company/investors.
Common and diverging objectives between the two parties and indeed among the international corporate and financial investors themselves are faced in a candid and practical way, with an emphasis upon ways of accommodating the interests of diverse stakeholders in the development of petroleum resources.
A brief introduction is provided to petroleum taxation issues. The module focuses upon problem-solving techniques in a variety of settings, noting the inputs of lawyers, economists, accountants, engineers and geologists. (CP50005/20 credits)

Introduction to Finance

This module will introduce the students to the complexities of business finance and aim to give them an understanding of the issues business managers in the energy and extractive industries are required to consider in the decision-making process. All managers, in all types of organisations, have to be constantly aware of the financial implications of decisions being made, including sources and cost of finance, return on investment, management of working capital requirements and of associated business and financial risk. The module is designed to give students an appreciation of the financial management issues they will encounter as managers and to give them the confidence in the understanding of finance to be able to ensure the correct financial information is available to them to allow for well informed decision making. (CP50044/10 credits)

Investment Decision Making in the Energy and Mining Industries

The primary aim of the course is to provide a detailed consideration of the theory of finance as it applies to the energy and mining industries and to consider how the theory is applied in practice. The two key focus areas will be investment decision making with uncertainty and how the investment demands are financed. (CP50008/20 credits)

Legal Framework for International Project Finance

Project financing is a tool, not an outcome in itself. This course recognises that energy projects are frequently financed by lenders. Where the lenders are content to accept repayment solely from the revenues of that project – not from the wider revenues of the sponsor – there is a limitation of recourse (or at the extreme an absence of recourse). That is project financing. The course looks at how various types of energy project can be structured to achieve that goal. The bank is not an equity risk taker – its business is to take credit risks. Project finance will force the bank to take a degree of project risk, so the bank will demand a contractual structure which mitigates that risk exposure. The course is concerned with understanding the risks for various energy projects – oil development; gas development; power generators; mining projects etc – and seeing how the principle risks inherent in those projects are moved by contract to the party best able to bear the risk. The course understands that where the bank is happy with the project risk profile, it will lend. If the bank is not happy with the project risk profile, it will not lend. The course looks at the risks which can be moved and how are they moved to a party acceptable to the lender – whilst at the same time ensuring that the holder of that risk is happy with the level of payment for taking that risk. (CP50013/20 credits)

Management in Energy and Natural Resources Industries

The aim of this module is to develop the student’s critical understanding and application of models, approaches and tools for the management of complex energy and natural resources organisations. (CP50045/20 credits)

Marketing

 (CP50023/20 credits)

Mineral and Petroleum Taxation

This module will provide students with foundation knowledge on how taxes and non-tax instruments are used by governments and the extractive industry to promote natural resource development while deriving revenues for the state and profits for extractive firms. Emphasis is on providing an understanding of the complex issues of tax regimes and the skill to analysis current topics or controversies, with the objective of providing competent strategy or policy advice to either governments or resource firms. Students will be prepared to compare and evaluate alternative taxation regimes, including environmental and international tax issues. Some topics covered in the module include; resource rent taxation, royalties, direct and indirect taxes, general structure of PSAs/PSCs, transfer pricing, and current issues from around the world. This module does not teach skills in accounting, financial analysis or tax law. (CP50006/20 credits)

Mineral Resources Policy and Economics

All too often mineral policies are developed without any proper understanding of the economic forces which influence all aspects of the mineral industries. Unless they work with those forces, rather than against them, policies are doomed to fail, no matter how well-intentioned or desirable they might appear. Whilst the various sectors of the hard-rock mineral industries share common features, each is influenced by different factors. This course explains, in a straightforward and common sense fashion, the main characteristics of the major sectors and the many forces working on demand, supply and prices. It is often overlooked that mining is primarily an economic activity. The lectures and notes bring out the various conflicting aims and objectives of all concerned with the industries and give an overall view of the economic context for all the legal and policy issues facing the minerals industry without becoming unduly enmeshed in whatever is presently of fashionable concern. (CP50014/20 credits)

National and Comparative Oil and Gas Law

The module aims to provide an understanding of the regulatory and contractual mechanisms required to make a single jurisdiction work in relation to petroleum law. The emphasis is on providing the student with knowledge and understanding of the differences (and similarities) between regimes based on licences, and those based on production sharing contracts.
All oil and gas law throughout the world is the same at a basic level – international law determines which state is entitled to the resource; the entitled state grants rights to individuals to extract the resource; the individuals agree amongst themselves as to how to split the costs and benefits; there is unitisation if necessary; the production is taxed; pipelines etc are built to move the production; the production is sold; and the facilities are ultimately decommissioned. This module aims to show the different models states adopt to facilitate petroleum production, including showing the role for state companies. (CP50049/20 credits)

Organisation Behaviour

 (CP50027/20 credits)

Petroleum Policy and Economics

This module deals with the economic and policy aspects of the international oil and industry. It presents the specific economic characteristics of the industry and explains the developments of the industry using economic logic. The module covers the entire supply chain of the oil and gas industry and focuses both on the supply and demand sides of the industry. It also considers the current issues and challenges faced by the industry. The main aim of the module is to help students become familiar with the economic concepts relevant for the petroleum industry and apply them to analyse relevant developments and challenges of the industry.  (CP50007/20 credits)

Strategic Management and Organisational Analysis

This module is designed to give students an overview of the wide and complex field of Strategic Management and Organisational Analysis. It will provide them with tools for effective executive and organisational analyses and decision making, with a specific focus on the Extractive Industries. It will raise awareness, provide skills and enable students to integrate learning from other disciplines. The module has two main components: • Firstly, acquiring theory and understanding key concepts in the field of strategy, and; • Secondly, developing the ability to apply theory, models and concepts learned to analyse organisations. This module works with two challenges, complexity and breadth. To get the most out of it, students will require to read widely and think deeply. This will give students a rewarding grasp of a vital subject.  (CP50043/20 credits)

Strategic Planning

 (CP50036/20 credits)

Directed Reading

Provide DL students with a range of optional modules related to Energy and Natural Resources Law and Policy, allowing them to tailor their studies to their needs and interests; enable DL students integrate new ideas and skills (acquired outwith but related to the DL programme) into their academic profile; equip DL students with the core competences, knowledge and skills required to work in a professional capacity thereby enhancing competitiveness in the labour and professional markets; enhance the research capability of DL students by giving them the opportunity to independently research on topics relevant to the programme but not being taught; provide DL students opportunity for more inter-disciplinary research into Energy and Natural Resources related subjects; further the aims of the DL programme; namely, to widen participation to students and make it readily available to a wider audience (CP50034/10 credits)

Directed Reading

Provide DL students with a range of optional modules related to Energy and Natural Resources Law and Policy, allowing them to tailor their studies to their needs and interests; enable DL students integrate new ideas and skills (acquired outwith but related to the DL programme) into their academic profile; equip DL students with the core competences, knowledge and skills required to work in a professional capacity thereby enhancing competitiveness in the labour and professional markets; enhance the research capability of DL students by giving them the opportunity to provide DL students opportunity for more inter-disciplinary research into Energy and Natural Resources related subjects; further the aims of the DL programme; namely, to widen participation to students and make it readily available to a wider audience (CP50035/20 credits)

Aquatic Ecosystems

To understand the nature of aquatic ecosystems, and the uses of water for humans and the natural environment.  (UN50010/20 credits)

Contexts for Water Resources Management

To understand the contexts, especially the physical and social contexts, within which the management of water resources takes place. (UN50009/20 credits)

Environment and Natural Resource: Science and Society

To provide a broad understand of the science and policy behind the integrated management of natural systems. (UN50012/20 credits)

Implementation of Water Resources Management

To understand the mechanisms by which communities and organisations can progressively implement an integrated approach to the management of water resources. (UN50011/20 credits)

International Law of Water Resources

The primary objective of this course is to provide an overview of the law that governs the non-navigational uses of international watercourses. The course begins with an overview of the fundamental principles of public international law, considered in the specific context of international watercourses. At the end of the modules, students are expected to be able to identify the legal issues and possible solutions for addressing international water problems. An understanding of the basic principles of public international law is required. The programme will consist of seven 3-hour lectures, with some provision for student presentations. The assessment for the course is one research paper, maximum length 4500 words due at the end of the term. (UN50001/20 credits)

National Water Law and Regulation

The primary objective of this course is to provide an overview of the fundamental legal principles that govern national freshwaters from a comparative law perspective. The course begins with an overview of legal entitlement to water and compares national legal regulatory systems. At the end of the module, students are expected to be able to identify the legal issues and possible solutions for addressing national water problems. An understanding of the basic principles of national law is required. This course will consider the principles of national water law and administration. Basic historical and current concepts of national water law will be identified and analysed. Existing systems of water law in various countries (i.e., civil law countries, common law countries, Muslim countries) will be examined and compared. The course will address the issues of ownership and legal entitlement with respect to water resources; legal regimes governing the right to use water; regulation of the beneficial uses of water resources and water quality and pollution control. Finally, such issues as water resources administration and privatisation of the water industry will be examined. The new developments in Scotland will be analysed and compared with water law revision activities in other countries (i.e. Australia, China, Kenya, Namibia and South Africa). (UN50002/20 credits)

National Water Law and Regulation (SCM)

Aim of this module is to provide students with an understanding of the role of law and policy in catchment management and to enable students to work with relevant legislation and policy at European and national levels.  (UN50008/10 credits)

Regulation of Water Services

The aim of the module is to develop an understanding of the options for ownership and structure of water services, the role of law and legal frameworks, the importance of good governance and the role of economic regulation in both the public and the private sectors. (UN50003/20 credits)

The Politics and Policy of Water Resource Management

The aim of this module is to provide students with
: (i) An understanding of the politics of water resource management
(ii) An understanding of how public policy is formulated and implemented in relation to water resource management  (UN50013/20 credits)