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 an energy economist, based in London, and specialising in international petroleum fiscal regimes, world oil and gas market developments, and energy policy. She is an associate of the Surrey Energy Economics Centre (SEEC) as well as Associate Lecturer in Energy Economics at the University of Surrey. She is Economic Consultant with the Commonwealth Secretariat and she acts as External Expert for the Fiscal Affairs Department at the IMF. She is also a regular contributor to the Liechtenstein based Geopolitical Information Service and is Research Fellow at the Lebanese Centre for Policy Studies. 

From 2005 to 2008, she served as Senior Research Fellow in Energy at the University of Surrey. Over the same period, she also acted as Special Parliamentary Adviser on Energy Issues and Middle Eastern Affairs in the House of Lords, UK. She then worked with Statoil  and Eni.

Dr. Nakhle, who was born in Lebanon, has travelled widely in the major oil and gas producing countries. She has been on energy related exploratory visits to the Arctic and the North Sea.

She is the Director of 'Access for Women in Energy', a non for profit organisation that brings together senior women executives, their male counterparts and policy makers to review timely energy matters.

Dr. Nakhle is trilingual, in spoken and written Arabic, French and English. She has published numerous papers and articles. She has also written two books. Her book, entitled "Petroleum Taxation: Sharing the Wealth", takes the reader step-by-step through the entire petroleum taxation story. Her other book "Out of the Energy Labyrinth", shows how the search for safe global energy supplies can work in harness with the struggle to curb greenhouse gases and climate change. The book is available in English, Japanese, Arabic and Turkish and is co-authored with Lord David Howell. They are currently working on a new energy title.

Dr. Nakhle has also written a report, in both English and Arabic, on the contractual framework for oil and gas investment in Iraq.

She is a member of the International and British Institute of Energy Economics, and makes regular presentations at international conferences on energy issues.

Research Interests

  • Petroleum Fiscal Regimes (globally)
  • Upstream Oil and Gas Investment
  • Energy Policy
  • Natural Gas Markets .

Research Collaborations

Natural Gas in the Commonwealth: Trends and Issues - a study prepared for the Commonwealth Secretariat


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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