FEBRUARY 2012
State budget under pressure as ICP hits $115 per barrel
The CGES said that the world’s crude oil stock had dropped to 63 days of reserve
Media
Highlight
One could recall Dr. Fadhil Chalabi telling this correspondent at the CGES of the possibilities the tar sands offered to the world.
Recent
FEBRUARY 2012
Energy Think Tanks Expect To See Global Crude Prices Fall
The CGES projects that Brent crude oil futures could drop from last year's average to 107 dollars this year.
FEBRUARY 2012
North Sea Oil Exports to Asia at 8-Year High
“There’s a glut of light-sweet crude,” said Leo Drollas, chief economist at the Centre for Global Energy Studies
FEBRUARY 2012
Gulf concerns to underpin crude
This increased target reflects Riyadh's struggle to fund a projected budget shortfall, according to the CGES.
Archives
2012
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February 1, 2012
Iran tanker group boss steps down, replaced
"He was not really aligned with anybody," said Manouchehr Takin, a petroleum analyst at the CGES.
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January 31, 2012
Need for OPEC oil in coming decades uncertain: CGES
OPEC is moving supplies away from N. America and growing closer to Asian markets, says Julian Lee, senior energy analyst at CGES.
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January 26, 2012
North America May Be Self-Sufficient in Crude Oil by 2030
North America may be self-sufficient in oil by 2030 according to Julian Lee, a senior energy analyst at the CGES.
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January 25, 2012
Saudi Arabia Unable to Fulfill Oil Pledge
Manouchehr Takin of the CGES said a removal of Iranian oil exports would hurt Europe more than Tehran.
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January 24, 2012
Oil, Euro Decline on Greek Debt Concerns
Saudi Arabia has the capacity to make up for a shortfall in Iranian exports, according to the CGES.
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January 23, 2012
EU prepares to ban imports of Iranian oil
The CGES told the BBC these developments had pushed up the price of oil on the energy markets.
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January 23, 2012
Saudi capacity seen sufficient to cover oil sanctions on Iran
Not all of the barrels would need to be replaced as some of it will go to nations unconstrained by any embargo, according to the CGES
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January 23, 2012
Oil Climbs as European Union Agrees on Sanctions Against Iran
The Centre for Global Energy Studies estimate Saudi reserves may be as high as 2.5 million.
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January 23, 2012
Envoy Stresses Failure of Oil Embargos against Iran
Manouchehr Takin, an analyst at the CGES research group, said a removal of Iranian oil exports would hurt Europe more than Tehran.
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January 20, 2012
Europeans fear Iran oil embargo will wreck economy
"Joining the embargo will backfire,” says Manouchehr Takin, senior energy analyst at the CGES.
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January 18, 2012
US Aims to Marginalize Economic Rivals through EU Ban on Iran Oil
Manouchehr Takin of CGES said a ban on Iranian oil exports to Greece, Italy and Spain, "would hurt Europe more than Tehran."
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January 16, 2012
Oil prices, Iran are increasingly sources of concern
“That’s the end game,” said Julian Lee, an energy expert at the London-based CGES
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January 13, 2012
Iran's 'distressed' oil to keep flowing - at deep discount
"I don't think this is a serious blow," said Manouchehr Takin, an energy analyst at the CGES.
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January 9, 2012
Banning Iran's oil
Inside Story discusses with guest Manouchehr Takin, a senior energy analyst at the Centre for Global Energy Studies.
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January 8, 2012
Oil forecasts
"In a matter of days both countries threatened to descend into chaos," says the CGES.
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January 7, 2012
CGES: Russia's 2011 output sets new post-Soviet production record
The CGES said Russia’s oil production for 2011, which topped 2010 by a whisker, reached a record high for the post-Soviet period.
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January 6, 2012
Analysts Warn of Downside to Sanctions on Iran Oil Exports
Leo Drollas of the CGES believes closing the strait could affect about 16 percent of global crude oil shipments.
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January 5, 2012
EU sanctions on Iranian oil will result in more Greek hardship
According to the Centre for Global Energy Studies, Iran exports 450,000 barrels of oil per day to Europe
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January 3, 2012
Oil prices predictions: What will 2012 hold?
Analysts at the Centre for Global Energy Studies (CGES) have predicted an average Brent price of $111 for 2012 as a whole.
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January 2, 2012
Gazing into the energy crystal ball for 2012
Manouchehr Takin of the CGES told New Europe that, in general, oil wouldn’t fall that much.
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January 2, 2012
Putin’s crude wins record premium at Europe’s cost
A ban on Iranian shipments may still not force other countries to compensate for the lost output, said the CGES
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January 2, 2012
Where is Oil Price Heading in 2012?
According to the Centre for Global Energy Studies, average Brent price of crude would be $111 in 2012.
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January 1, 2012
Energy pundits divided on market moves
The CGES prediction puts oil prices only slightly ahead of their current level.
2011
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December 29, 2011
Oil price estimates vary wildly, but average is on the high side
The Centre for Global Energy Studies has a lowball estimate of only $US76 ($74.85) a barrel for Brent crude in 2012
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December 24, 2011
Bad news for oil-importing nations
The CGES estimates that oil demand growth is now galloping at 6.5 mbd and is expected to continue till 2015.
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December 22, 2011
Engine of global growth dependent on Iranian oil
The CGES said that if the Strait of Hormuz is impacted, there would be "an immediate and severe spike in oil prices in 2012.”
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December 21, 2011
High oil prices boost OPEC's income to highest in 51 years
The forecasts by the CGES showed the assumed earnings are based on an average price of OPEC’s basket of a record high of $106.8 a barrel
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December 20, 2011
Sanctions against Iran could trigger oil price spike
The CGES estimates 14% of global crude-oil production could be at risk if the Strait of Hormuz was to become unnavigable
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December 19, 2011
Iraqi Oil Smuggled to Azerbaijan and Afghanistan
According to the CGES report, the Early Oil Project in the Chirag field performed somewhat better than expected.
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December 19, 2011
Kingpin Saudi Arabia, Iran settle over oil output cap
“They all have to reduce their production by 400,000-500,000 barrels per day, which is a reasonable one,” said the CGES
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December 16, 2011
OPEC Deal Leaves Saudis in Role of Swing Oil Producer
OPEC’s new 30 million barrel a day ceiling mean some countries will have to cut production, said Julian Lee of the CGES
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December 16, 2011
Oil Sector Sets Sights High, Adds More Muscle
Recent discoveries by wildcat explorers have changed the way they view the north, says Manouchehr Takin of the CGES
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December 13, 2011
Forex and Futures - Crude Oil Slips
The CGES forecasts a boom in profits for the Organization of the Petroleum Exporting Countries (OPEC).
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December 13, 2011
Iran: EU Oil Ban Impossible
"Europe cannot easily replace that Iranian crude with other crude," the CGES told AFP.
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December 13, 2011
Oil embargo to harm EU more than Iran
Manouchehr Takin of the CGES maintains that an embargo against Iran's oil exports will have adverse effects on European refineries
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December 13, 2011
New Opec quota accord ‘will fail amid wrangling'
"To realign the quota is a huge task," said Leo Drollas, chief economist at the London-based CGES
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December 12, 2011
Markets fear OPEC deal may falter on Saudi-Iran supply split
"To realign the quota is a huge task," said Leo Drollas, chief economist at the CGES
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December 12, 2011
Tighter sanctions on Iran could cost Eni 'billions'
The CGES said the absence of Iranian oil exports would hurt Europe more than it would Tehran.
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December 12, 2011
OPEC heads for windfall on record oil price
Based on CGES forecasts, the only year in which OPEC's oil revenue was higher was 2008
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December 9, 2011
EU sanctions on Iran will impact Europe
Manouchehr Takin, an analyst at the CGES, said a removal of Iranian oil exports would hurt Europe more than Tehran.
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December 7, 2011
Drollas Says Euro-Zone Crisis May Help Ease Oil Prices
Leo Drollas, chief economist at the CGES, discusses the outlook for oil prices amid a deepening crisis in the eurozone
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December 6, 2011
British Gas owner Centrica strikes Qatar oil deal
Julian Lee, senior energy analyst at the CGES, said: "Qatar has made no secret of its desire to diversify."
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December 5, 2011
Attack on Iran could lead to $200 oil
“The price will go up to $200,” Manouchehr Takin, Senior Petroleum Upstream Analyst with the CGES
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December 5, 2011
Qatar Has World in Its Sights for Power Projects
“It doesn’t have the domestic resource to be able to expand its production,” said Julian Lee of the CGES
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November 28, 2011
Iran oil targeted by Obama sanctions
"Iranian oil would still flow," said Manouchehr Takin, an energy analyst at the CGES.
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November 17, 2011
Biggest Find in Decades Becomes $39 Billion Cautionary Tale
“The biggest worry is whether the project can ever be profitable” said Julian Lee of the CGES
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November 16, 2011
Nord Stream opening strengthens EU-Russia interdependence
Julian Lee of the CGES said that Nord Stream is generally a very positive development for long-term gas supply security.
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November 16, 2011
Crude oil prices increase, challenge $100/bbl in NY market
Analysts at the CGES said, “The oil market is unlikely to remain unaffected by the financial meltdown in Italy
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October 28, 2011
Saudi Opposition to Iran Fades on $100 Oil Goal
"Despite their mutual antipathy, neither country wants prices to fall below $100," Leo Drollas of the CGES
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October 26, 2011
Gulf Debt Risks: Falling Oil Prices, Arab Spring Expenditures
The break-even price for oil in Saudi Arabia is expected to rise to US$110 a barrel in 2015 according to the CGES
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October 25, 2011
Debunking four oil industry myths
The U.K.-based Central For Global Energy Studies aims to dispel a few oil industry myths that many industry experts seem to take for granted:
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October 24, 2011
Post-war production in Libya
"At this stage it is not clear how long it will take to restore loading operations at these terminals," notes CGES.
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October 21, 2011
Takin Says Oil Prices Won't Collapse Due to OPEC Policy
Manouchehr Takin, an analyst at the Centre for Global Energy Studies, talks about the outlook for oil demand and prices.
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October 12, 2011
Despite Lots of Talk, Dollar Still Reigns
“It’s a red herring,” said Leo Drollas, chief economist at the Center for Global Energy Studies in London.
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October 10, 2011
Saudis say oil demand steady as world economy falters
The Center for Global Energy Studies said last month that China’s oil demand would drop to the levels of mid-2010.
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October 7, 2011
Metals to crude, it's a gloomy picture everywhere
Opec won’t allow oil to fall below $90 because of the need to finance social spending, according to the Centre for Global Energy Studies.
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October 5, 2011
OPEC Risks Bear Market as Libya Output Recovers
OPEC won’t allow oil to fall below $90 because of the need for revenue to finance social spending, according to the CGES
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September 30, 2011
The high cost of keeping Arab peace
“Saudi Arabia will cut back after its summer surge,” says Leo Drollas, London-based chief economist at the CGES
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September 29, 2011
Opec's income to soar by $310bn in 2011
OPEC earnings could swell to $1.14 trillion in 2011, showed the figures by the Centre for Global Energy Studies.
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September 23, 2011
Long Shot Iraq
“It is not certain if that number of drilling rigs could be mobilized and transported to Iraq” the CGES report says.
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September 23, 2011
Russian Gas Dispute With Ukraine Threatens New Supply Disruption to Europe
“It’s shaping up as having all the potential for a conflict,” Julian Lee, senior energy analyst at CGES
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September 21, 2011
Russia puts end to gas wars
“Europe is trying to add variety to its sources of gas supply" adds Julian Lee, Senior Energy Analyst at the CGES.
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September 21, 2011
Can Gulf economies grow as the developed world plunges into a recession?
Oil use in the OECD has gone back into reverse again, says UK-based Centre for Global Energy Studies.
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September 20, 2011
Oil downside risk rises as economic outlook darkens
"The oil market is caught between bearish macro-economic factors and bullish micro-economic factors in the oil sector itself" said the CGES
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September 20, 2011
OPEC’s $1 Trillion Cash Quiets Poor as $100 Oil Fills Coffers
“Saudi Arabia will cut back after its summer surge,” said Leo Drollas, London-based chief economist at the CGES
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September 19, 2011
US EIA: Sees Oil Prices At $95/Barrel By 2015, $108 By 2020
The CGES warn that despite slowing global oil demand, "Oil prices are likely to remain high unless the supply shortage eases."
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September 19, 2011
Unrest Continues in the Arab World
“Attempts to avert the spread of popular unrest have led oil-producing countries to pour billions into social spending ” the CGES reported.
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September 19, 2011
Brazil oil bonanza triggers royalties war
"There is a strong expectation that Brazil's future oil reserves will be much greater than those booked so far" the CGES said.
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September 19, 2011
Oil slumps for second day as euro fears dominate
"Only another demand collapse will bring prices down," the UK-based CGES wrote in its latest report.
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September 9, 2011
Gazprom Opens Pipeline to Sakhalin
"It will become a major part of Gazprom's and Russia's gas export infrastructure," said Julian Lee, a Russia analyst at the CGES
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September 9, 2011
Libya's Oil Industry: Don't Expect a Quick Comeback
"China supported nothing, but it came in with the money and the bids," says Julian Lee, senior analyst for the CGES
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August 30, 2011
Libyan Pipedreams
“Libya has been open for foreign investors for decades" said Manouchehr Takin, senior upstream oil analyst with the CGES
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August 26, 2011
Italy and France eye Libyan oil
Julian Lee, with the Centre for Global Energy Studies, says the countries that supported the rebels will now likely be rewarded.
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August 26, 2011
Oil Constraints
"Oil prices have once again become an economic liability" says Centre for Global Energy Studies in its report.
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August 26, 2011
Oil Rises on Speculation of Additional Stimulus, Irene Threat
Libya will probably restore production to about 300,000 barrels a day over the next two months, the CGES said yesterday
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August 25, 2011
Korean gas pipeline moves back onto agenda after leaders meet
Russia and North Korea have agreed on the creation of a tripartite commission involving South Korea
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August 25, 2011
Oil Trades Near One-Week High in London on Fed Speculation
Saudi Arabia may cut production if a resumption of Libyan exports pushes Brent crude down toward $90 a barrel, according to the CGES
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August 24, 2011
Libya's future in the balance as fighting rages
"There are pictures of damage being inflicted on those cities and those terminals," said Julian Lee, an analyst at the CGES
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August 24, 2011
Will Gadhafi's fall boost the U.S. economy?
Manouchehr Takin of the CGES told CNNMoney that Libya's resumption of production is more likely to be a gradual flow.
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August 23, 2011
Oil market's 'knee jerk reaction' to Libya
Manouchehr Takin, senior petroleum analyst at the CGES, said the return of Libyan production will more likely be a gradual flow.
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August 23, 2011
Libya oil output facing uncertain future in post-Gaddafi era
"We do not know how much the crude exports facilities were hit" said Dr Manouchechr Takin, at the CGES.
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August 23, 2011
What would Gaddafi’s fall mean for oil prices?
For one, says Julian Lee of the CGES, it’s not clear what type of new government will arise.
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August 22, 2011
Oil output swoon jars estimates of non-OPEC supply
Last week, the Center for Global Energy Studies applauded the group's assessment of a demand slump and prompt supply cut in 2009.
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August 17, 2011
Oil market & budget developments
The CGES sees incremental oil demand in 2011 of 0.9 mbpd thanks to slowing economic growth and the impact of high oil prices
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August 11, 2011
Oil majors see production levels decline in Q2
The lacklustre performance is a result of Big Oil’s declining control of easily accessible petroleum reserves, says CGES.
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July 26, 2011
Price dislocation in benchmark crudes
Analysts at the Centre for Global Energy Studies said, "Oil supplies are rising, but markets remain tight"
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July 20, 2011
Russia Aims to Boost Gas Supply to Europe After Nuclear Exit
“Gazprom sees this as a huge opportunity and rightly so,” Julian Lee, a senior analyst at the Centre for Global Energy Studies
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July 19, 2011
Energy prices rebound on higher earnings, lower supply
Analysts at the CGES said, “Oil supplies are rising, but prices have returned to the levels they occupied before June.
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July 19, 2011
High oil prices unlikely to budge
The CGES said oil prices could remain high by a mixture of uncertainties and an unexpected spurt in demand from developing economies
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July 12, 2011
Cheaper oil means trouble
The CGES expects Brent to average about $8/barrel less during the third quarter than without the IEA release
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July 6, 2011
US energy demand growth slows on economic sluggishness
The Saudis saw the need for a formal output increase and even threatened to go it alone if it could not get agreement, the CGES said
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June 28, 2011
Oil prices slip and slide as IEA begins reserve sale
As Julian Lee, from the Centre for Global Energy Studies puts it: ‘The IEA is saying to Opec: "If you don’t do something, we will".’
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June 27, 2011
US meddles in market by SPR release
Press TV Interviewed Manouchehr Takin, an analyst with the CGES, to share his views on the US strategy in reducing gas prices
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June 27, 2011
Takin on oil prices
Manouchehr Takin of the CGES talks about the outlook for oil prices after the IEA agree to releasing reserves
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June 27, 2011
IEA beats speculators at their own game
“This is the first time they are doing this for market purposes - for price control,” Manouchehr Takin of the CGES
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June 24, 2011
Oil price slumps after richest countries raid stockpiles
Julian Lee, from the CGES, said: "The IEA is saying to Opec 'If you don't do something, we will'.
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June 24, 2011
West sends clear signal on oil
Leo Drollas, chief economist at the CGES said that the move could create problems for Saudi Arabia.
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June 22, 2011
Oil below $95 shows Saudis set price over Iran
Saudi Arabia will boost supply to as much as 9.5 mbpd by August according to the London-based CGES.
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June 21, 2011
Oil rises on easing Greek worries
Saudi Arabia will be "cautious" in raising output to avoid weakening prices, according to the Centre for Global Energy Studies.
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June 21, 2011
Crude Oil Rises in N.Y. as Juncker Eases Greek Debt Concerns
CGES forecasts that OPEC will provide 29.6 mbpd during the third quarter, less than the 30.9 million that OPEC projects is needed.
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June 21, 2011
CGES sees little change in oil prices
The CGES sees little change in oil prices for the rest of the year after revising down its latest oil price forecast
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June 20, 2011
Oil: Differences in Opec magnified
But Leonidas Drollas of the CGES notes an inconvenient truth: this power is not spread evenly across the member states.
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June 18, 2011
With the recent volatility in oil prices, what's the outlook for the energy sector?
The Centre for Global Energy Studies (CGES) reports world oil use is expected to increase by 1.6% in 2011
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June 16, 2011
False Promises?
CGES estimates that to reach the production target of 13-14 million barrels per day, Iraq will be need to drill 800-1,200 wells annually
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June 13, 2011
Divided cartel headed for 'slow, painful death'
Julian Lee, of the CGES, said: "There is a real danger that OPEC is heading in that direction."
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June 13, 2011
Gulf Dilemma
"Narrow self-interest on the part of some powerful member-countries prevented the Organisation from acting in a responsible manner" says a note from CGES
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June 12, 2011
Saudis Signal They’re Ready to Increase Oil Output After OPEC Disagreement
“This leaves OPEC in a shambles and the Saudis having to do it on their own,” said Leo Drollas, chief economist at the CGES
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June 11, 2011
Oil leaps as Opec descends into acrimony
The CGES said Opec had been rendered “structurally dysfunctional” by this crucial divide between members with and without spare capacity.
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June 10, 2011
Calgary energy firms work through Yemen violence
The CGES estimated that the strike meant 70 per cent of Yemen's typical oil production - or 190,000 barrels of oil per day - was shut in.
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June 10, 2011
Saudi set to raise output despite deadlock at OPEC meeting
The senior energy analyst with the CGES, Julian Lee, says the long standing divisions in OPEC were finally showed in glaring lights this week
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June 9, 2011
ExxonMobil strikes oil in Gulf of Mexico
While this is good news for the U.S. oil industry, it's unlikely to have a noticeable impact on the world oil supply, according to the CGES
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June 9, 2011
Market Expectations Fall Flat As OPEC Unable To Reach Accord
James Longmore, an energy analyst at the CGES, had questioned if Iran and Venezuela would be willing to sit on the sidelines
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June 9, 2011
OPEC’s ‘Worst Meeting’ Ends Without Production Agreement, Boosting Prices
Iran refused to sign on to the agreement that OPEC reached at a 1999 meeting, said Leo Drollas, chief economist at the CGES
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June 9, 2011
Norway and Russia call dibs on the Arctic
“It’s probably far too early to say there are significant volumes of anything there”, the CGES told the BBC.
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June 9, 2011
U.S crude up as supply concerns mount
"Saudi Arabia's comments on oil supply and the news out of Libya add to confidence about the supply outlook," said the CGES
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June 9, 2011
Worst OPEC Meeting Ever: Everyone Loses – Analysis
Massive state spending has raised their break-even price to $83 per barrel, as estimated by the CGES
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June 8, 2011
Hopes For Lower Petrol Pump Prices Dashed
One industry expert, Dr Leo Drollas of the CGES, told Sky's Jeff Randall Live that the cartel should have acted earlier.
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June 8, 2011
Russia and Norway agree deal over oil-rich Barents Sea
"The expectation is that it has the potential to hold significant volumes of oil and gas" said Julian Lee of the CGES
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June 8, 2011
OPEC Meets Amid Global Uncertainty
Saudi Arabia has highlighted concerns going so far as to warn that it will raise supplies — even if other OPEC members fail to reach a deal.
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June 6, 2011
Opec faces tough call over oil output
“If they get bogged down in an argument about shares of the total, it’ll be very difficult,” says Leo Drollas at the CGES
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June 6, 2011
OPEC Upstaged by Qaddafi in Most-Hostile Meeting Since Gulf War
“The meetings are not political -- they are business meetings to look at the oil market,” said Manouchehr Takin, an analyst at the CGES
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June 6, 2011
Pembroke Chevron refinery: Safety record 'exceptional'
Julian Lee, senior energy analyst at the CGES, said the plant was an important part of the UK's oil infrastructure
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June 6, 2011
Complexity vs. demagogy
Then there’s China, which, CGES notes, accounted for 37% of incremental oil demand worldwide over the past decade.
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June 3, 2011
Opec considers increase in oil output
The CGES estimated that Opec would need to raise actual output – as distinct from quotas – by 1m b/d if the market was not to tighten further.
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June 2, 2011
OPEC to Resist Calls to Aid Recovery With More Oil
“The risk of them doing nothing is that the market is denied oil it needs,” said Leo Drollas, chief economist at the CGES
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June 1, 2011
OPEC seen ignoring West’s call to act
OPEC is unlikely to bow to western pressure to officially raise oil output at its meeting next week
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May 31, 2011
Petro states should note oil's power to fell the mighty
Saudi Arabia needs about $83 per barrel to balance its budget - according to an estimate from the Centre for Global Energy Studies.
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May 27, 2011
OPEC braces to meet rising oil demand
Leo Drollas, chief economist of the CGES, observed that "Saudi Arabia could ask OPEC members to raise their production quotas"
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May 26, 2011
Oil prices slide on fresh demand worries
OPEC "is struggling to find a way to deal with the current market situation " the CGES said in its May study.
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May 24, 2011
Oil Rises After Biggest Loss in Week
The IEA may coordinate the release of emergency oil stockpiles if OPEC doesn’t raise production, the London-based CGES said in a report.
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May 24, 2011
IEA Hints at Oil Stock Release Unless OPEC Acts, CGES Says
"The IEA has tried to convince OPEC to produce more crude, but it is unlikely that a response will be forthcoming," the CGES said in a monthly report.
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May 23, 2011
Yemen Unrest Cuts Oil Production by About 70 Percent, CGES Says
Attacks on pipelines in Yemen have reduced the country’s oil production by about 70 percent, according to the CGES
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May 23, 2011
OPEC ministers come under pressures ahead of June 8 meeting
Leo Drollas of the CGES, said it is hard to see how anything could be accomplished at the upcoming OPEC meeting
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May 23, 2011
Oil Drops a Second Day
The IEA may release emergency oil stockpiles if OPEC doesn't raise production, the London-based CGES said in a report yesterday.
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May 22, 2011
Yemen oil crisis: minister predicts "catastrophe"
Yemen’s oil exports are down around 70 percent since unrest began, according to the Centre for Global Energy Studies.
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May 20, 2011
Energy Agency Calls for Rise in World Oil Output
“So far there hasn’t been much reaction in the West to the high prices,” said Leo Drollas, chief economist at the CGES.
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May 19, 2011
Iran sets stage for tense Opec meeting
Saudi Arabia dislikes acting unilaterally and it could ask Opec members to raise their production quotas, said Leonidas Drollas of the CGES
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May 16, 2011
Saudi seen needing $91 oil to fund gov't spending plans
Saudi Arabia needs oil to trade at about $91 a barrel this year to cover the cost of government programmes, according to the CGES
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May 16, 2011
Oil prices seen peaking at $120/barrel in mid-2011
Global oil prices are likely to peak at around $120/barrel in mid-2011 Leo Drollas, chief economist at the CGES, said Friday.
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May 15, 2011
Oil Rises a Second Day as European Growth Accelerates
Iraq may raise its oil production to 7 million barrels a day by 2020 thereby adding to OPEC’s spare capacity, said the CGES
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May 13, 2011
Oil demand flattens as prices spike
“Underlying all this is the fundamental tightening of the market” said Leonidas Drollas, chief economist of the CGES.
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May 4, 2011
U.S. leverage to crimp Iranian oil exports fades
"If refiners want Iranian oil, they will get it through a trader," said Manouchehr Takin, a senior petroleum analyst at the CGES
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April 25, 2011
Athens to Riyadh: What’s up with oil prices?
“There is no chance of these prices declining in Greece for the time being – sadly,” Leo Drollas, Deputy Executive Director at the CGES
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April 24, 2011
Countries Search For Other Means Of Obtaining Crude Oil
Analysts at the CGES said OPEC members have not replaced oil production lost to the conflict in Libya, leaving a shortage of 1 million b/d in March.
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April 21, 2011
OPEC and global oil consumption
Press TV interviewed Manouchehr Takin from the CGES regarding OPEC, oil production, and obtaining accurate statistics on global consumption.
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April 21, 2011
Global oil demand set to moderate in 2011
The Centre for Global Energy Studies and the IEA both expect oil demand growth of 1.4 mbpd (1.6%) in 2011
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April 20, 2011
Crude price climbs as production lags
Analysts at the CGES said, “Oil prices [generally] are rising to levels that are beginning to affect demand"
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April 20, 2011
Energy sector hit by S&P warning over US debt
In the report, the CGES also warns that “…Oil demand cannot continue to grow over time without the supply to satisfy it."
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April 20, 2011
Oil prices expected to exceed $130 by end of year
Oil prices are likely to exceed $130 per barrel before the end of the year, according to latest forecast from Centre for Global Energy Studies
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April 20, 2011
CGES's Drollas Says Oil Price May Rise to $135 This Year
Leo Drollas, deputy director of the Centre for Global Energy Studies, discusses the outlook for oil production by members of OPEC
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April 19, 2011
Oil prices slump despite Saudi production cut
The Centre for Global Energy Studies said the kingdom is overstating how well supplied the market is
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April 19, 2011
Gasoline prices climb in California and the nation
The state's average over the last week for a gallon of regular gasoline is up 4.4 cents to $4.205. The U.S. has seen a 5.3-cent rise to $3.844.
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April 18, 2011
Oil falls, but gasoline prices are still rising
The new monthly oil report by the Center for Global Energy Studies said that OPEC had failed to replace all of the oil lost from Libya
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April 18, 2011
High prices despite 'oversupply'
Analysts at the Centre for Global Energy Studies (CGES), observed, “Oil prices are rising to levels that are beginning to affect demand
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April 16, 2011
Higher Saudi spending pushes breakeven price of oil up 23%
Saudi Arabia is "terrified" in the wake of its higher budget commitments that prices will collapse, the CGES said
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April 14, 2011
Africa poised to become energy powerhouse
“There’s certainly more talk of environmental protection,” says Julian Lee, an analyst at the Center for Global Energy Studies
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April 13, 2011
Gaddafi's oil revolution
Libyan leader Muammar Gaddafi has had an eventful career. But one aspect of his life has largely been forgotten in the West.
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April 12, 2011
Natural gas enters revival era
Mr Manouchehr Takin of the CGES said that "Pipeline problems are being reduced and transportation is improving with LNG.”
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April 11, 2011
Africa holds the key to solving world energy crisis
"There's certainly more talk of environmental protection," says Julian Lee, an analyst at the Center for Global Energy Studies.
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April 10, 2011
Energy: Can it sustain us in the future?
“People have forgotten Chernobyl and now they are being reminded of the risks of nuclear with this tragedy,” Manouchehr Takin of the CGES
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April 8, 2011
Turkish-Azeri Gas transit deal may ease caspian supply to Europe
“They can’t develop Shah Deniz-2 until they’ve got a way to get the gas out,” Julian Lee, a senior energy analyst at the CGES
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April 7, 2011
Over a Barrel (part 1)
Sheikh Yamani is now 81, and is chairman of the CGES which he founded after being removed from office by the Saudi rulers in 1986.
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April 7, 2011
Oil rise has not hit recovery, says Iraq
Iraqi output averaged 2.75m barrels per day in February, according to the CGES, making the country the third-biggest producer in Opec.
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April 7, 2011
Oil could rocket to $200-$300: Yamani
Leo Drollas of the CGES, said the kingdom had provided 550,000 barrels per day to replace lost Libyan supplies
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April 7, 2011
Renewable energy still too expensive, says report
“If something happens in Saudi Arabia it will go to $200 to $300.” Yamani told Reuters on the sidelines of a conference of the CGES which he chairs.
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April 6, 2011
Yamani: Oil could reach $300/bbl over unrest in Saudi Arabia
“If something happens in Saudi Arabia it will go to $200 to $300[/bbl].” said Yamani at an energy conference at the CGES.
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April 6, 2011
Iraq Won’t Be Able to Pass Oil Law by June, Al-Janabi Says
Passage of the law by June or July is “unfeasible,” Adnan Al-Janabi said at a conference organized by the Centre for Global Energy Studies.
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April 6, 2011
Saudi and Opec breakeven oil prices are rising at worrying levels
Saudi Arabia needs oil prices to remain around $83 to breakeven in 2011, according to the Centre for Global Energy Studies (CGES).
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April 6, 2011
$300 not improbable in case of Saudi unrest, says Yamani
"I don’t expect this for the time being, but who would have expected Tunisia?” Yamani said on the sidelines of a conference of the CGES
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April 6, 2011
Saudi Arabia, UK agree on need to stabilize oil market
Fears of rocketing oil prices were stoked when Sheikh Yamani told a CGES conference that serious unrest could push oil prices as high as $300/bbl.
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April 5, 2011
Oil could hit $200-$300 on Saudi unrest - Yamani
Oil prices could rocket to $200- $300 a barrel if Saudi Arabia is hit by serious political unrest, CGES chairman Sheikh Zaki Yamani has said
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April 5, 2011
Fears over Middle East unrest send oil to pre-recession highs
The spike is a function of fear rather than fundamentals, according to Manouchehr Takin of the Centre for Global Energy Studies
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March 31, 2011
US$1,000 Billion revenue in crude oil exports for OPEC
According to the CGES Saudi Arabia will now require a Crude Oil price of 83 bbl so as to balance their National budget for the year.
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March 30, 2011
Opec set for $1,000bn in export revenues
“The more they earn, the more they tend to spend. So the oil price they need is ratcheted up,” said Leo Drollas, chief economist at the CGES
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March 29, 2011
A 'proxy war' in Bahrain
Although not a major oil producer, Bahrain is important for its population mix, "many with Iranian ties," said analysts at the CGES
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March 29, 2011
Qatar recognises Libyan rebels after oil deal
Manouchehr Takin, from the CGES, told Al Jazeera that the deal, if confirmed, would be "a landmine, legally speaking".
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March 28, 2011
U.S. Treasury OKs Libyan rebel oil sales
Qatar won't confirm the story, but Julian Lee of the Centre for Global Energy Studies says the rebels' claim is feasible.
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March 25, 2011
Oil has shot up to $34 a barrel
“If it weren’t for the dentists in New York buying WTI contracts, the oil price would be even more volatile.” says Leo Drollas of CGES
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March 24, 2011
From tsunamis to Typhoons
In the short run, Japan will have to burn more oil: at least 300,000 barrels per day (bpd) more, according to the CGES.
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March 23, 2011
OPEC ambiguity poses a risk to oil market
The London Center for Global Energy Studies also warned OPEC's stance may hurt both the producer group and world economic recovery.
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March 23, 2011
Oil up in Asia on Libya tensions
In London, the CGES warned that the tightening market is in danger of repeating the 2008 price surge, when crude futures topped $147 a barrel.
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March 22, 2011
Oil Prices To Remain Above $100 Without OPEC Action
The price of oil will average above $100 per barrel for all of 2011, the Centre for Global Energy Studies said Monday.
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March 22, 2011
Crude price rebounds after weekend combat in Libya
Analysts at the CGES pointed out global oil demand growth is proving remarkably robust in the first quarter of 2011 despite soaring prices.
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March 22, 2011
Oil Futures: Crude Lower, But Supported By Middle East Supply Worries
"The oil market needs a signal from OPEC that the lost Libyan production will be replaced - and soon," the CGES said in its monthly oil report.
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March 21, 2011
Japan crisis forces rethink of the nuclear option
Leo Drollas, chief economist at the Centre for Global Energy Studies, says: “Obviously in Japan, there will be a major rethink.”
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March 21, 2011
The Impact of Japan's Earthquake, MENA Unrest
According to the CGES, Japan’s dependence on oil as a primary energy source has decreased from 78% in 1973 to its current value of 43%
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March 21, 2011
Libya oil faces steep hurdles before return to global markets
“There are no guarantees Gaddafi will not follow a scorched earth policy,” said Leo Drollas, chief economist at the CGES
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March 17, 2011
China Suspends New Nuclear Projects as Radiation Fears Spread
The State Council message may be aimed at addressing public anxiety about the events in Japan “The politicians can’t be indifferent,” said the CGES
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March 16, 2011
China to Suspend Approval of New Nuclear Projects
"The politicians can't be indifferent," said Manouchehr Takin, an analyst at London's Centre for Global Energy Studies
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March 15, 2011
Japan quake scrambles market
“The sixth-largest earthquake recorded anywhere in the world since 1900” said analysts at the CGES
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March 15, 2011
Japan nuclear crisis mixed message for climate change
"Disruption to the Japanese nuclear industry means that they're going to be relying on oil and gas for power generation," said the CGES
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March 14, 2011
Japanese earthquake fells oil prices in early trading
Oil prices fell some $2/bbl in early trading Mar 11 on reports a massive earthquake and huge tsunami hit Japan
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March 14, 2011
After 8.9 quake, explosion hits pchem complex in Japan
“The fire at Cosmo Oil’s Chiba refinery appears to have destroyed several natural gas storage tanks,” said Centre for Global Energy Studies.
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March 11, 2011
Shale Oil and Gas – Offering a Bright Prospect of Profits for Oil and Gas Companies
According to the CGES, leading countries reduced their dependency on imported oil from the Middle East, which is why global resources have been affected.
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March 10, 2011
Analysts say Libya crisis can push oil prices past US$200
Stocks in Europe were at a six-year low by the end of January, according to the Centre for Global Energy Studies in London.
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March 10, 2011
New rules could make oil even more volatile
"By restricting the positions of those that add liquidity you can create volatility." said Leo Drollas of the Centre for Global Energy Studies.
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March 8, 2011
Saudi Arabia replacing Libyan oil production for moment, but worries remain
With Saudi oil, Libya will still be replaceable in terms of quantity, according to Manouchehr Takin of the CGES
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March 7, 2011
Turkmen Gas Looks Attractive to China
"I don't think China particularly wants gas in the west."Julian Lee, senior energy analyst at the CGES said Thursday.
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March 4, 2011
China needs many energy partners
Julian Lee, an energy analyst at London's Center for Global Energy Studies, told Bloomberg News the squeeze is on for Gazprom.
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March 4, 2011
Turkmenistan pumps up gas deliveries to China
"There may be pressure for Gazprom to deliver into the east of the country if it wants a deal,” said Julian Lee, senior energy analyst at the CGES
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March 4, 2011
China Turns to Turkmenistan for Gas Amid Gazprom Pipeline Talks
“If they can continue to ramp up volumes from Turkmenistan, it may put pressure on Gazprom to deliver into the east of the country” said Julian Lee, senior energy analyst at the CGES
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March 3, 2011
Gaddafi threatens revenge as Libya's output plunges
“Latest estimates suggest that somewhere between 50% and 80% of Libya’s oil production has been lost” the CGES said.
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March 2, 2011
The world is badly placed to cope with another oil crisis
Even seismic shocks in oil-producing countries might not cut off supplies. Yet the example of Iran shows what can go wrong as the CGES points out.
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March 1, 2011
Why Libya's Uprising Is Bad for the World Economy
"There is huge uncertainty about what the future of Libya is going to look like," says Julian Lee, analyst for the CGES in London.
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February 28, 2011
Unrest pushes up oil prices
Julian Lee, a senior analyst at the Centre for Global Energy Studies, talks about the outlook for oil supply and prices.
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February 28, 2011
Crude Oil Prices: A Brief on Current Drivers
Global crude oil consumption outstripped addition by 1.3 million barrels per day between 2Q10 and 4Q10, according to the CGES.
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February 27, 2011
The EU’s entanglement in the southern revolutions
According to Machoucher Takin, an analyst for the CGES, oil prices are currently at a two and a half year high with projections to increase.
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February 25, 2011
There Goes Libyan Oil
“Because of what is happening in Middle East, Europe says Russia is the lesser evil in terms of security of supply,” said Manouchehr Takin of the CGES
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February 25, 2011
Iran sells more oil as Libyan exports dwindle
"The Iranians sell most of their oil on a landed basis," said Leo Drollas, chief economist at the CGES
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February 25, 2011
Europe rethinks dependence on Libyan oil
Manouchehr Takin of the CGES, suggests yet another way forward. "They will find other sources, like Norway and the Arctic.”
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February 25, 2011
Turmoil unlikely to raise gas prices long-term
“It wasn’t that long ago – in June 2008 – that the Saudis agreed to pump more oil to bring prices down,” recalls Manouchehr Takin of the Centre for Global Energy Studies.
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February 24, 2011
Oil aplenty, so why is it nearly $100?
Leo Drollas, an analyst with the CGES, said that it appears fewer pure speculators are in oil markets today than in 2008.
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February 24, 2011
Either the Saudis step in or oil prices are going to the moon (and other predictions)
Just yesterday I was listening to the chief economist at the Centre for Global Energy Studies explain calmly why the oil price was unlikely to hit $150 a barrel.
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February 23, 2011
Reasons for oil not to hit $150
The main factor keeping a lid on oil prices, Leo Drollas told an audience in London on Wednesday, is relatively low pure speculation compared to 2008.
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February 23, 2011
Libyan unrest rattles oil markets
Oil prices are going up because “people have the worst-case scenario in the back of their minds,” says the CGES
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February 23, 2011
Oil speculation is less intense than in 2008 rally
The intensity of speculation in oil markets is lower than in the rally of 2008, according to an analyst at the Centre for Global Energy Studies.
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February 22, 2011
Iraq Struggles With High-Flying Oil Goals
The Center for Global Energy Studies, which recently published a report on Iraq’s progress, expects four million barrels a day closer to 2018.
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February 22, 2011
Oil prices in 'danger zone' for global economy, says IEA's Fatih Birol
Dr Manouchehr Takin, from the CGES, said: "If Opec is going to take action it's in their interests to take a risk on the upside for oil prices.
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February 21, 2011
OPEC needs to raise oil output before any new crisis, says think tank
A CGES monthly oil report challenged OPEC's position that the current oil supplies were sufficient to meet global demand.
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February 21, 2011
Oil price fueling fears for airlines
Leo Drollas, chief economist at the CGES suggests "tactical hedgers" such as Ryanair, which tries to dip into the hedging market when it fears rising fuel prices, often lose.
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February 14, 2011
Have Saudis Overstated How Much Oil Is Left?
Manouchehr Takin, a senior analyst at the CGES and a former senior official in Opec, believes that the WikiLeaks cables are alarmist
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February 14, 2011
Protests and oil prices are ‘short term,’ specialists say
“The market is simply worrying, be it about domestic effects of rising consumer prices or fears of disruption in the Suez Canal, ” said the CGES.
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February 7, 2011
Al Naimi remains Saudi Oil Minister after term ends
“I don’t expect any changes while the king is sick and with unrest in the region,” said Leo Drollas, chief economist at the CGES
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February 7, 2011
Currency wars: regional implications
Conversely, as the CGES has suggested, the broader impact of currency wars on global trade and therefore on oil demand may portend a decline in oil prices
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February 7, 2011
Global Crude Oil Prices: Three Critical Issues to Watch
Domestic demand for crude oil grew by about two and a half times the global rate, according to the CGES
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February 6, 2011
The Russian oligarchs and "Bolshoi Petroleum”
Manouchehr Takin of the CGES had said at the time that it was unlikely BP would collapse because BP had assets.
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February 6, 2011
Egypt and $100 Oil: The Smell of Fear
The CGES told New Europe by phone that it is very common sense that there is a fear of disruption from the political developments in the Middle East.
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February 4, 2011
Russia, Britain: A BP-Rosneft alliance
“The potential is there, but exploring requires risk-taking”, said Manouchehr Takin, senior analyst at the CGES
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February 3, 2011
Oil and unrest: what's the worst that could happen?
Manouchehr Takin, analyst at the Centre for Global Energy Studies said he believed disruptions would not last long
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February 2, 2011
OPEC´s Oil Reserve Revisionism
Manouchehr Takin, head of upstream research in the CGES, sees Iran’s reserve increase as a reaction to Iraq’s increase
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February 1, 2011
Egypt riots force petrol price rises
Leo Drollas, Chief Economist of CGES, said that the combination of a severe winter and a reduction in supply was causing the increase.
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January 25, 2011
Possibility of OPEC production boost lowers crude prices
The CGES believe "OPEC will fail to provide enough additional crude to keep a lid on prices"
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January 24, 2011
Winter cold continues gas price rally
At the CGES, analysts noted 6 months of “much stronger than expected demand growth” has drawn crude inventories down.
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January 24, 2011
Oil prices diverge, Saudi says OPEC may raise output
The Centre for Global Energy Studies said that "without more oil from OPEC, oil prices will continue to rise in 2011"
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January 24, 2011
OPEC inaction to blame for oil price spike, says think tank
OPEC inaction over recent oil price spikes is setting the stage for even higher prices for the energy commodity, the CGES said Monday.
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January 23, 2011
Oil price to average $70-90 per barrel
According to the CGES, $90 per barrel oil could prove too expensive for the global economy at this stage of the recovery
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January 23, 2011
The Arctic: a new frontier for oil, gas firms
"The potential is there, but exploring requires risk-taking," said Manouchehr Takin, senior analyst at the CGES
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January 20, 2011
Iraqi Oil Not Flooding Market Any Time Soon
A recent CGES report estimates that Iraq would have to increase production by an unprecedented 2 Mbpd annually.
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January 20, 2011
Energy commodity report
The CGES had said that “despite OPEC insisting otherwise, the CGES is still of the view that $90/bbl oil could prove too expensive"
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January 18, 2011
Oil has airlines over barrels
As Leo Drollas, chief economist at the CGES points out, jet fuel is a middle-distillate crude oil derivative similar to heating oil.
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January 18, 2011
Polar pioneers: Is arctic oil the final frontier?
"The reason these basins have not been fully explored already is because of the cost" the Centre for Global Energy Studies said.
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January 18, 2011
BP moves on after Gulf of Mexico oil disaster
With its reputation in the US in tatters, energy giant BP is trying to move on from the Gulf of Mexico disaster by expanding operations in Russia.
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January 11, 2011
Oil at $90 a barrel too high for recovery, says think tank
Crude oil prices of $90 a barrel or more are too high to help global economic recovery, the CGES has said
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January 3, 2011
Rising crude price threatens recovery in US, elsewhere
CGES worries the US balance of payments called the current account, which, the think tank points out, is in “perennial deficit.”
2010
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December 21, 2010
Shale gas: an energy saviour?
Dr Manouchehr Takin from the CGES said: "Shale gas is definitely a phenomenon"
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December 21, 2010
Think tank warns of OPEC hunger for higher oil prices
OPECis courting risks for world economic recovery by not doing enough to maintain a better balance between oil price and production, CGES warned in its Monthly Oil Report.
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December 21, 2010
CGES again upgrades oil price forecast for 2011
Oil prices are most likely to approach $100 per barrel (dpb) in 2011, according to latest forecast from Centre for Global Energy Studies (CGES).
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December 20, 2010
Oil prices may increase next year
Oil prices may increase next year on heightened demand that has eroded excess global crude inventories, according to the CGES
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December 13, 2010
OPEC Cheating Most Since 2004 as Options Signal Oil Hitting $100 Next Year
“Bells are ringing in the corridors already."said Leo Drollas, the London-based director and chief economist at the CGES
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December 13, 2010
OPEC retains current production
At the CGES, London, analysts reported, “(OPEC) Ministers expressed their general satisfaction with the current level of oil prices”
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December 11, 2010
Has OPEC built enough capacity during the lean years?
"Overall, global demand is not growing fast enough to draw down spare capacity over the next 2-3 years," said Manouchehr Takin at the CGES
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December 9, 2010
Oil price rise puts pressure on Opec
The CGES said it was “serendipitous that we’ve seen Saudi Arabia and China protecting the two ends of the range that prices have been moving in”.
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November 29, 2010
Shale gas popularity rising but experts remain divided
The use of shale gas has already heavily influenced energy prices around the world, said Manouchehr Takin with the CGES.
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November 29, 2010
The loaning of the green
At the CGES, analysts agree there was unprecedented surge in global oil demand after 10 consecutive quarters of global stock builds.
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November 25, 2010
Oil price swings highlight Opec’s weakness
The latest oil report from the CGES finds that not a single Opec member is currently abiding by its agreed production limit
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November 22, 2010
Think tank cautious on rising oil demand
Rising oil demand figures are more about shifting inventories and stocks than actual increases in end-user consumption, CGES claim
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November 15, 2010
Oman Contract Struggles to Benchmark Middle East Oil Prices
“As long as Saudis don’t participate, the Oman contract is not going to grow as much,” said Leo Drollas, chief economist of the CGES
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November 9, 2010
Financial markets driving oil prices
Oil prices are projected to average $75 this year and could be higher in 2011 to remain above their 2009 level said Leo Drollas, CGES.
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November 4, 2010
Budget strain not behind higher Saudi oil price view
"The absolute minimum OPEC oil price basket that Saudi Arabia needs is around $60 per barrel" said Leo Drollas of the CGES
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October 26, 2010
Too early to tell if current oil spike will stay
It may be too early to tell if the current 10 percent rise in crude oil prices is here to stay, the CGES said in its monthly oil report.
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October 26, 2010
Subsidies seen endangering OPEC prosperity
Member countries of OPEC are eroding their export capacities by subsidizing domestic consumption, warns the CGES.
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October 12, 2010
Iraq jostles for power in Opec
“Actual production capacity is what counts when it comes to negotiating with other Opec ministers,” says the CGES
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October 4, 2010
Iraq’s proven oil reserves soar by a quarter
The CGES said that although he had not seen the exact details of the revision, he did not think it was “purely political”.
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September 29, 2010
Oil firms reap benefit of Iran's build-up of crude stocks
"Iran needs its oil income for government spending," said Manouchehr Takin, a petroleum analyst at the Centre for Global Energy Studies
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September 22, 2010
Events can dent OPEC confidence, says report
OPEC's aggregate oil export revenues are expected to be almost 25 percent up on the 2009 recession-hit level, CGES said
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September 20, 2010
LUKoil Venture Could Send Pipe Gas to China
"Every deal that China signs for alternatives to Russian gas must chip away at the Russian position," said Julian Lee an analyst at the CGES
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September 17, 2010
Dubai Petrol Stations Running out Gas
Dr. Manouchehr Takin, a petroleum analyst with the Centre for Global Energy Studies in London agreed with Bain.
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September 16, 2010
Abu Dhabi Paymasters Fund Fujairah to Bypass Hormuz
“It still involves costs -- the pipeline will need maintenance and security in the desert,” said Leo Drollas, deputy director of the CGES
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September 9, 2010
Takin on BP Report
VIDEO: Manouchehr Takin, an analyst at the CGES, talks about BP Plc's oil spill report and the political reaction.
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September 7, 2010
Off the Hydrocarbon Dole, Persian Gulf Countries Begin Phase Out of Energy Subsidies
“Gulf countries have been saying that this is not sustainable because subsidies are now leading to wastage,” said the CGES
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September 3, 2010
Record Russian Oil Premium Vanishes on Refinery Run Cuts: Energy Markets
“Some of the Iranian grades are fairly close competitors with Urals,” Julian Lee, a senior energy analyst at the CGES said yesterday.
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September 1, 2010
Oil Price Ignores Long-Term Supply Worries
By comparison, the capital and operating costs of deep-water Atlantic wells come to between $30 and $40/bbl, according to the CGES.
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August 25, 2010
Oil Firms 'Will Overcome Arctic Challenges'
Manouchehr Takin from CGES, added that the sheer size of potential reserves hidden below the icy waters meant the region would not be overlooked.
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August 22, 2010
Kuwait signs oil pact with Iraq
Manouchehr Takin, an analyst for the Centre for Global Energy Studies said Rumaila was the most contentious of several oilfields that straddle the border.
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August 3, 2010
Energy prospectors go west to Blackpool in search of 'shale gas'
Cuadrilla Resources, backed by former BP chief Lord Browne, hopes to extract gas from the Bowland shale
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August 3, 2010
Ecuador, for pay, will not drill in Amazon reserve
Ecuador signed a deal to hold donations from rich nations willing to pay to refrain from drilling for oil in an Amazon wildlife reserve.
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July 30, 2010
Shell defends deep-water oil drilling, as profits soar
"Drilling becomes more of a conventional realm of production," said Manouchehr Takin, a senior analyst at the Centre for Global Energy Studies
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July 28, 2010
BP Spill Thwarts Shell, Statoil in Arctic Oil Drilling Delay
... to the cost of producing a barrel of oil, according to Manouchehr Takin, a senior petroleum analyst at the Center for Global Energy Studies in London. ...
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July 23, 2010
Lebanon: ‘Drill Baby Drill’
“This is a very large discovery which extends into Lebanese waters,” said Dr Takin of the CGES
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July 23, 2010
Oil market equilibrium fragile, says think tank
"There seems little fundamental reason for oil prices to break out of their current trading range," CGES said.
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July 1, 2010
Iraq looks to spectacular oil boom to revive its political fortunes
The CGES predicts that "the evolution of Iraq's oil capacity over the next 10 years promises to be the most important issue confronting Saudi Arabia in particular
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June 22, 2010
Brazil plans $224 billion expansion for oil production and export
The London Center for Global Energy Studies said in its Monthly Oil Report Tuesday hopes of a global economic recovery had nudged the crude oil price higher ...
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June 17, 2010
BP's Oil Spill Fines Could Hit $63 Billion
"American people have got to be calm," said Dr. Leo Drollas, the chief economist and deputy director of the Centre for Global Energy Studies
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June 7, 2010
Turkey: Emerging energy hub?
As Manouchehr Takin, an Iranian analyst at the CGES, pointed out: “Unfortunately, politics distorts the markets.”
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May 26, 2010
Low oil prices might favor economic recovery
"A slowdown in the rate of Chinese economic growth would remove at a stroke the single largest support of oil demand," CGES noted
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May 25, 2010
Oil market in fear of double-dip recession, says think tank
World oil markets are living in fear of a double-dip recession, London think tank Center for Global Energy Studies said.
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May 24, 2010
Oil prices continue to tumble as dollar strengthens
Analysts at the Centre for Global Energy Studies, London, said, “A month ago the oil market was in bullish mood"
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May 2, 2010
Problems with big oil that won't go away
As Manouchehr Takin of the CGES says: "Companies are constantly pushing the technological boundaries, and this can increase the risk
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February 26, 2010
Stocks could cover Iran oil supply loss for year: IEA
There was always the danger that politics in Iran would impact supply, said Leo Drollas, chief economist at the Centre for Global Energy Studies.
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February 23, 2010
Oil price slide to under $79
The Centre for Global Energy Studies said in its latest monthly report that global oil demand was growing again following the economic downturn
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February 22, 2010
Energy Think Tank: Little Chance of $80-$90 Oil Price 2H 2010
In its monthly oil report for February, the London-based Centre for Global Energy Studies said global oil demand is growing again
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February 20, 2010
Tug of war between producers and consumers on the cards
In the light of the prevailing indications, it is indeed difficult to see much support for higher oil prices, the CGES said in its February Monthly Oil Report
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February 15, 2010
Turkmens Seek Foreign Bids for Gas Deposits
“Russian and Asian companies are most likely to show an interest in new offshore acreage” Julian Lee, senior energy analyst at the CGES
