The Factors Affecting the Capital Structure of Petroleum Companies

Energy is an indispensable input for almost all the processes necessary for social life to survive. It has a critical prescription in terms of economic and political security of countries with limited geographical distribution and reserves. Economically, the petroleum industry is at the top of the high-risk sectors, which include high fixed capital investment and accompanying high activity and inadequate reserves. In addition, the industry is particularly influenced by the decisions of national and international regulatory agencies and institutions. In this book, "petroleum" is used to cover crude oil and natural gas. The petroleum industry has a complex and wide structure. The petroleum value chain starts with exploration and has a structure extending from oil production to transportation, refining, marketing and petrochemical industries. The reason for the complexity is that the industry depends on numerous political and economic and technological influences that are independent and / or interrelated.