• Journal of Nuclear Fuel Cycle and Waste Technology(JNFCWT)
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• v.21 no.2
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• pp.295-301
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• 2023

To broaden the utilization of nuclear energy, uranium as a fuel should be mined indispensably. Mining accounts for the largest portion of the cost of producing the uranium assembly. Therefore, this study analyzes the trends of uranium prices, which have a significant impacts on the mining cost. Uranium production contributing to the price fluctuations is explained in five periods from 1945 to the present. Moreover, the series of events affecting uranium prices from the 1970s until the present are verified. Among them, the most recent incidents considered in this study are the following: COVID-19 pandemic, Kazakhstan unrest, and Russia-Ukraine war. European countries have started to reconsider the transition to nuclear power to reduce their dependence on Russian oil and gas, which has contributed to the surge in uranium prices. Based on the results of this study, various international issues have been closely associated with the nuclear power industry and uranium, affecting the production of uranium and its price.

• Korea Trade Review
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• v.47 no.3
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• pp.141-156
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• 2022

This study intends to examine the regional blocs of the international crude oil futures market by analyzing the dynamic conditional correlation between the international crude oil futures markets using the DCC-GARCH model. For statistical data, from April 2, 2018 to March 31, 2022, international crude oil futures prices such as Europe, the United States, China, and Dubai were used. To summarize the results of the study, first, the phenomenon of regional blocs in the international crude oil futures market is occurring, and it is found that it is gradually strengthening as time goes by. Second, it was found that the dynamic correlation of the international crude oil futures market is temporarily strengthened when a supply-demand imbalance problem occurs due to a global shock. Third, it was found that the volatility of the Chinese crude oil futures market affects the international crude oil futures market. This study confirmed that the regional blocs phenomenon in the international crude oil futures market is strengthened as time goes by. In particular, it suggested that China's influence in the international oil market would increase.

• Journal of the Korean Society of Marine Environment & Safety
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• v.26 no.3
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• pp.262-268
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• 2020

The IMO (International Maritime Organization) has mandated the restriction of SOx emissions to 0.5 % for all international sailing vessels since January 2020. And, a number of countries have designated emission control areas for stricter environmental regulations. Three representative methods have been suggested to cope with these regulations; using low-sulphur oil, installing a scrubber, or using LNG (Liquefied Natural Gas) as fuel. In this paper, economic analysis was performed by comparing the method of installing a scrubber with the method of using low-sulphur oil without installing additional equipment. We suggested plausible layouts and compared the pros and cons of dif erent scrubber types for retrofitting. We selected an international sailing ship as the target vessel and estimated payback time and benefits based on navigation route, fuel consumption, and installation and operation costs. Two case of oil prices were analyzed considering the uncertainty of fuel oil price fluctuation. We found that the expected payback time of investment varies from 1 year to 3.5 years depending on the operation ratio of emission control areas and the fuel oil price change.

• Journal of the Korean Data and Information Science Society
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• v.19 no.4
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• pp.1037-1046
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• 2008

Recently, the oil suppliers who supply the tax-exempt oil to the fishery are confronted with big trouble in their supply and demand system due to the unstable global oil prices. We applied the seasonal ARIMA(SARIMA) model to the low-sulfur and high-sulfur crude oil which are in great request and developed forecasting systems for them. Since there are many parameters in SARIMA, it is difficult to estimate the optimal parameters, but it is overcome by using simulation looping program. In conclusion, we found that the obvious seasonality in demand of low-sulfur and these demands are tending downwards gradually.

• Korean Journal of Agricultural Science
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• v.47 no.1
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• pp.29-41
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• 2020

Biodiesel is a clean energy resource that can replace diesel as fuel, which can be used without any structural changes to the engine. Vegetable oil accounts for 95 percent of the raw materials used to produce biodiesel. Thus, many problems can arise, such as rising prices of food resources and an imbalance between supply and demand. Most of the previous studies using waste cooking oil used waste cooking oil from a single material. However, the waste cooking oil that is actually collected is a mixture of various types of waste cooking oil. Therefore, in this study, biodiesel produced with mixed waste cooking oil was supplied to an agricultural single-cylinder diesel engine to assess its potential as an alternative fuel. Based on the results, the brake specific fuel consumption (BSFC) increased compared to diesel, and the axis power decreased to between 70 and 99% compared to the diesel. For emissions, NO_x and CO₂ were increased, but CO and HC were decreased by up to 1 to 7% and 16 to 48%, respectively, compared to diesel. The emission characteristics of the mixed waste cooking oil biodiesel used in this study were shown to be similar to those of conventional vegetable biodiesel, confirming its potential as a fuel for mixed waste cooking oil biodiesel.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.12
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• pp.295-303
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• 2021

The aim of this study is to analyze the effects of oil prices on economic growth and exchange rate in Saudi Arabia during the period 1980-2020. For this purpose, the linear and nonlinear ARDL models are estimated. The linear ARDL model shows that the oil price and economic growth are cointegrated. Moreover, the two variables have a significant positive association in the long run. However, the oil price has no significant impact on the exchange rate. When estimating the nonlinear ARDL model, it has been shown that oil price is only cointegrated with economic growth but not with the exchange rate. The estimation of nonlinear effects using the nonlinear ARDL model shows that economic growth is affected by both positive and negative oil shocks in the long run. However, the impact of positive shocks is higher than those of negative shocks. Moreover, results show that the short-run effects of positive and negative oil shocks are not statistically significant. Regarding the exchange rate, our results show that the effects of positive and negative oil shocks are not statistically significant. Consequently, this study concludes that the oil price has an asymmetric effect on economic growth in Saudi Arabia, but not on the exchange rate.

• Korea Trade Review
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• v.44 no.1
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• pp.75-86
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• 2019

This study performs a factor analysis that affects the bunker oil price using the Co-integration model and Vector Error Correction Model (VECM). For this purpose, we use data from Clarkson and the analysis results show 17.6% decrease in bunker oil price when the amount of crude oil production increases at 1.0%, 10.3% increase in bunker oil price when the seaborne trade volume increases at 1.0%, 1.0% decrease in bunker oil price when total volume of vessels increases at 1.0%, and 0.003% increase in bunker oil price when 1.0% increase in world GDP, respectively. This study is meaningful in that this study estimates the speed of convergence to long-term equilibrium and identifies the price adjust mechanism which naturally exists in bunker oil market. And it is expected that the future study can provide statistically more meaningful econometric results if it can obtain data during more long-periods and use more various kinds of explanatory variables.

• The Journal of Asian Finance, Economics and Business
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• v.4 no.1
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• pp.25-38
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• 2017

This study investigates the causal relationship between stock prices and exchange rates for six Middle Eastern countries, namely, Egypt, Iran, Jordan, Kuwait, Oman, and Saudi Arabia before and during (after) the 2007 global financial crisis for the period between January 2004 and September 2015. The sample is divided into two sub-periods, that is, the period from January 1, 2004 to September 30, 2007 and the period from October 1, 2007 to September 30, 2015, to represent the pre-crisis period and the post-crisis period, respectively. Using Vector Autoregressive (VAR) model in a multivariate framework (including two control variables, inflation rates and oil prices) the results suggest that in the case of Jordan, Kuwait and Saudi Arabia, there exists bidirectional causalities after the crisis period but not the before. The opposite status is available for the case of Iran. In the case of Oman, there is bidirectional causality between the variables of interest in both periods. The results also reveal that the relationship between stock prices and exchange rates has become stronger after the 2007 global financial crisis. Overall, the results of this study indicate that fluctuations in foreign exchange markets can significantly affect stock markets in the Middle East.

• Environmental and Resource Economics Review
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• v.24 no.3
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• pp.523-549
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• 2015

This paper investigates an oil refiner's asymmetric behavior in the adjustments of gasoline and diesel prices to changes in his own price and his rivals' prices as well as input costs. An asymmetric error correction model which allows a firm's pricing behavior to the deviation of other firms' prices from their long-run equilibrium level is employed for estimation using weekly data for the period April 2009 to January 2015. Evidence is found that there is a significant degree of asymmetry in the adjustment of wholesale prices to changes in crude oil price. A similar result in regard to the exchange rate is also found by the data. The estimation results for firm's response to changes in other firms' prices indicates that implicit collusion could be more easily exploited in the wholesale petroleum market as results of firms' interaction with each other and anticipation of rivals' pricing behavior. A few refiners show competitive price adjustment in response to the upward deviation of the others' prices from their equilibrium level.

• 한국신재생에너지학회:학술대회논문집
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• 2006.11a
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• pp.79-82
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• 2006

Fueled by ballooning oil prices, waste plastics are now regarded as being cheap and abundant renewable sources, removing their stigma of dirty wastes Catalytic pryolysis of plastics in liquid phase allows recovery of light fuel oil as well as green treatment of polymerics wastes, and therefore significant efforts have been devoted to this research field. In this study, catalytic Pyrolysis of LDPE was carl ied out in semi-batch reactor which equipped a unit of separation and recirculation. The effect of react ion conditions were examined by analyzing liquid oil yield and carbon number distribution of products