The price of oil has fluctuated wildly in the last few years and has placed a spotlight on oil investing vehicles. Of particular interest has been the discrepancy between oil investing returns and the hypothetical returns to spot oil. We attempt to understand the source of that discrepancy by...

Sharing costs and risks are the basic foundation of any the joint venture. However, the required financial commitments might be jeopardized either by a co-venturer who cannot afford the payment of the related costs or a co-venturer who simply chooses not to pay its share. The petroleum industry...