Dr Carole Nakhle

Associate Lecturer in Energy Economics

Qualifications: PhD (Energy Economics, Surrey), MSc, BSc


Office hours

To be arranged.

Further information



Dr Carole Nakhle is the founder and Director of Crystol Energy. She acts as Associate Lecturer in Energy Economics at the University of Surrey (UK) and Associate of the Surrey Energy Economics Centre (SEEC), in addition to her roles as Research Fellow at the Lebanese Centre for Policy Studies (Beirut) and Scholar at the Carnegie Middle East Centre (Beirut). She is also Economic Consultant to the Commonwealth Secretariat; External Expert for the Fiscal Affairs department at the IMF and Consultant for the World Bank. She makes regular contributions to Geopolitical Information Service (Liechtenstein) and acts as visiting lecturer at international institutions such as The Graduate School of International and Development Studies in Geneva. She is the founder and director of the non-for-profit organisation “Access for Women in Energy” and is Program Advisor to the Washington based International Tax and Investment Centre (ITIC).
Between 2009 and 2011, she worked with Statoil as industry analyst then as External Institutions Manager with ENI. From 2005 to 2008, she served as Senior Research Fellow in Energy Economics at the University of Surrey and acted as Special Parliamentary Adviser on Energy Issues and Middle Eastern Affairs in the House of Lords, UK – a role she resumed for one year in 2012.
Dr Nakhle, who was born in Lebanon, is trilingual, in spoken and written Arabic, French and English. She has published numerous papers and articles, which appeared in various journals and newspapers. She acts as Expert Reviewer to leading international publishers, such as Cambridge University Press, Routledge and Palgrave and refereed journals.

Research Interests

  • Petroleum Fiscal Regimes (globally)
  • Upstream Oil and Gas Economics
  • Energy Policy
  • Natural Gas Markets 
  • Gas Monetisation

Research Collaborations

Carnegie Middle East Centre

International Tax and Investment Centre

Lebanese Centre for Policy Studies

Oxford Institute for Energy Studies


In addition to her regular contribution appearing on http://www.geopolitical-info.com/en/ Dr Nakhle’s publications include:

Nakhle, C. (2014) 'Can Oil and Gas Markets Adjust to a Rising Persia?', Carnegie Middle East Centre, Oct.

Nakhle, C. (2014) 'Energy and Climate Security: Then and Now', in Global Agenda 2013: Water, Energy, and the Arab Awakening, United Nations University.

Nakhle, C. (2014) ‘America is Right, the UK’s North Sea Tax Regime Needs Reforming’, The Conversation, 16 July.

Nakhle, C. (2014) ‘Managing Expectations and Depoliticizing the Sector’, article published by the Lebanese Centre for Policy Studies (LCPS), the Daily Star (18 March) and in Arabic by Annahar (20 March).

Nakhle, C. (2013) 'Lebanon Oil and Gas: What is on Offer?', Oxford Energy Forum, Issue 93, August.

Nakhle, C. (2013) 'Making the Reward Worth the Risk', The Executive Magazine, March. 

Nakhle, C. (2013) 'Offshore Gas Pre-Qualification Process: So Far so Good', Lebanese Centre for Policy Studies, article also published in Al Akhbar, February. 

Nakhle, C. (2013) 'Gas: Lebanon Needs a Clear and Robust Framework to Address the Challenges Ahead', Lebanese Centre for Policy Studies, article also published in the Daily Star, January..

Nakhle, C. (2012) 'Iraq's Fourth Licensing Round: Business as Usual?', Middle East Economic Survey (MEES), vol. 3, no. 4, pp. 14-21, April.

Nakhle, C., Hall, R. (2012) 'The Taxation of Upstream Oil - Principles, Practice and Prospects', Centre for Global Energy Studies.

Nakhle, C., Shamsutdinova, I. (2012) 'Arctic Oil and Gas Resources: Evaluating Investment Opportunities', Oil Gas and Energy Law Intelligence, Special Edition 'Arctic Region: Boundaries, Resources and the Promise of Co-Operation', vol 10, Issue 2.  

Nakhle, C. (2011) 'Coal, Oil and Natural Gas', in Fred Nadis and Jack Waskey (eds) 'World History Encyclopedia, Era 9: Promises and Paradoxes, 1945-Present', ABC-CLIO.

Nakhle, C. (2010) 'Iraq's Oil: Dangers and Rewards', International Energy Law Review, Issue 8, pp. 13-21.

Nakhle, C. (2010) 'North Africa - A Region with a Difference?', WEG Newsletter, Windsor Energy Group, November Issue. 

Nakhle, C. (2010) 'Oil: Tragedy and Transition', Oil, Gas & Energy Law Intelligence (OGEL), vol. 8, Issue 3.  

Nakhle, C. (2010) 'The Arctic The Last Great Oil Frontier or Is It?', International Energy Law Review, Issue 6, pp. 1-5.

Nahkle, C. (2010) 'What Have We Learned from the Australian Resource Taxation Experience?', ITIC Special Edition Bulletin

Nakhle, C. (2010) ‘Petroleum Fiscal Regimes: Evolution and Challenges’, in Philip Daniel, Michael Keen and Charles McPherson (eds)¸ The Taxation of Petroleum and Minerals: Principles, Problems and Practice, IMF, Washington.

Nakhle C. (2009) ‘Iraq First Bidding Round - The Greatest Race on Earth’ or was it?’
- Published in Italian in AGI Energia, July
- Published in English in Global Arab Network, August

Nakhle, C. (2009) ‘Petroleum Taxation’, in Joanne Evans and Lester C Hunt (eds), International Handbook on the Economics of Energy, Edward Elgar, UK-USA

Nakhle C. (2009) ‘Falling Oil Revenues: Opportunities or Set-back?’ The Review, June-August

Nakhle, C. (2009) ‘The Arctic: the Last Great Oil Frontier?’, The International Herald Tribune, 22 March.

Nakhle, C. (2008) ‘Iraq’s Oil Future: Finding the right framework’, Surrey Energy Economics Centre, University of Surrey, UK (study sponsored by the International Tax and Investment Centre, ITIC, Washington).

Nakhle, C. (2008), ‘Petroleum Taxation: Sharing the Oil Wealth”, Routledge, London

Nakhle, C. (2008) ‘Can the North Sea still Save Europe?’ OPEC Energy Review, June, pp. 123-138

Nakhle, C. (2008) ‘Petroleum Taxation: some Guiding Axioms’, ITIC’s 12th annual Special Report

Nakhle, C. (2007) ‘Do High Oil Prices Justify an Increase in Taxation in a Mature Oil Province? The Case of the UK Continental Shelf’, Energy Policy, vol. 35, pp.4305–4318

Nakhle, C. (2007) ‘Energy and Climate – no Need for Conflict’, IAEE Energy Forum, Third Quarter, International Association for Energy Economists.

Nakhle, C., Howell, D. (2007) ‘Out of the Energy Labyrinth’, I.B.Tauris, London.

Nakhle, C., Howell, D. (2006) ‘Fuelling a Climate Breakthrough’, International Herald Tribune, Nov. 15.

Nakhle, C. (2006) ‘Liberalisation and Energy Security: Competing or Complementary Objectives?’ IBL Focus, July, No.30.

Nakhle, C., Howell, D. (2006) ‘Thanks, Iran, for the Reminder’, International Herald Tribune, Thursday, February 9.

Nakhle, C. (2006) ‘Is the Oil Industry still Attracting the Talent it Needs?’, The Way Ahead, Society of Petroleum Engineer (SPE), February, Vol.2, no. 1.

Nakhle, C. (2005) ‘Look at the North Sea in a New Way’, Financial Times, Monday, November 28.

Nakhle, C. (2005) ‘Taxing a Declining Province’, Petroleum Review, September, Vol.59, n.704.

Nakhle, C. (2005) ‘Black Gold: Still a Man’s World?’ Oil, Gas & Energy Law (OGEL), October, Vol.3, Issue 3.

Nakhle, C., Howell, D. (2005) ‘OPEC & the IEA Have to Get it Right this Time’, International Herald Tribune, Friday, September 30.

Nakhle, C. (2005) ‘Managing Decline: Getting the North Sea Fiscal Regime Right’, Oil, Gas & Energy Law (OGEL), June, Vol.3, Issue 2.

Nakhle, C. (2005) ‘Why Were Arab Women Dismissed from the Oil Industry?’, Published in Arabic in Al-Hayat, Wednesday, June 4.

Nakhle, C. (2005) ‘Opinions on the UK North Sea Petroleum Fiscal Regime: Preferences Revealed’, International Energy Law and Taxation Review, May, Issue 5.

Nakhle, C. (2005) ‘North Sea Taxation: Has the UK Reached the Tipping Point?’ Oil, Gas & Energy Law (OGEL), March, Vol.3, Issue 1.

Nakhle, C. (2005) ‘The Impact of Terrorism on Oil Price’, Published in Arabic in Al-Qabas Newspaper, Kuwait, February, 15.


Carole coordinates and teaches on the ECOM032 Economics of International Oil and Gas module. [Click here to access the teaching materials]

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