A methodological approach to strategic petroleum reserves

Samouilidis, J; Berahas, S

dc.contributor.author	Samouilidis, J	en
dc.contributor.author	Berahas, S	en
dc.date.accessioned	2014-03-01T01:06:01Z
dc.date.available	2014-03-01T01:06:01Z
dc.date.issued	1982	en
dc.identifier.issn	0305-0483	en
dc.identifier.uri	https://dspace.lib.ntua.gr/xmlui/handle/123456789/9121
dc.relation.uri	http://www.scopus.com/inward/record.url?eid=2-s2.0-0020380768&partnerID=40&md5=aed43b8c50ece22ec17a93509862a0b3	en
dc.subject.classification	Management	en
dc.subject.classification	Operations Research & Management Science	en
dc.title	A methodological approach to strategic petroleum reserves	en
heal.type	journalArticle	en
heal.language	English	en
heal.publicationDate	1982	en
heal.abstract	Energy constitutes a small fraction of the production inputs in the economy, yet the rigidity imposed by the short and medium term inability to substitute energy with other production factors in case of an energy shortage, requires the establishment of safeguard mechanisms to ensure sufficient energy supply during an emergency. These safeguards usually take the form of strategic energy reserves. A methodological approach is presented here, relating the level of strategic petroleum reserves, the decision variable, with the costs associated with their storage and the economic losses incurred by an energy shortage. This approach is based on the use of a decision tree, to portray emergency scenarios. Each scenario, a branch of the decision tree, can be evaluated in terms of a cost function which includes the inventory procurement and maintenance cost and the shortage cost inflicted by a petroleum shortfall. © 1982.	en
heal.publisher	PERGAMON-ELSEVIER SCIENCE LTD	en
heal.journalName	Omega	en
dc.identifier.isi	ISI:A1982PL09400011	en
dc.identifier.volume	10	en
dc.identifier.issue	5	en
dc.identifier.spage	565	en
dc.identifier.epage	574	en