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SEPTEMBER 2010
Since early October 2010 benchmark crude oil prices have been trading in a range between $70 and $80/bbl, showing no sign of breaking decisively in either direction and receiving few signals from market fundamentals.
SEPTEMBER 2010
China is currently consuming roughly an equal amount of energy as the US (about 2.2 bn tonnes per year of oil equivalent), although its GDP is one third than that of the latter.
AUGUST 2010
In view of the revival in global oil demand now underway and the recent leaking of millions of barrels of crude oil into the Gulf of Mexico, questions are being raised once more about how much oil the world needs to find each year to be on the right side of prudence.
AUGUST 2010
Australia is an important LNG exporter that is currently home to one of the biggest LNG ventures in the world, the North West Shelf (NWS) LNG project...
Archives
August 16, 2010
Russia’s Gazprom has dismissed attempts by European countries to emulate the unconventional gas successes of the US, seeking to pour cold water on attempts by several European countries to develop their own shale gas industries.
August 10, 2010
The Nord Stream consortium has begun laying the first of its two parallel gas pipelines beneath the Baltic Sea, with a formal ceremony at Portovaya Bay on the 9th of March.
August 9, 2010
Dr. Leo Drollas, presentation from the Nov. 2009 CGES Executive Retreat.
July 28, 2010
The past month held few surprises as far as the oil price was concerned, with the main benchmarks continuing to trade within the $70-80/bbl corridor that has been a feature of the second quarter of 2010.
July 22, 2010
A 300,000-bpd build in reported onshore stocks of crude and products last month left them just 5 mn bbls below last year’s record highs.
July 20, 2010
Gazprom plans to build five major offshore and ten major onshore pipelines over the coming decade, with a combined length of around 20,000 km. Can Gazprom really complete all the pipelines it is planning to build?
July 5, 2010
The blowout at the Macondo well in the deepwater Gulf of Mexico is a tragedy for those who lost their lives and their families and a potential catastrophe for those whose livelihoods have been impacted.
July 5, 2010
Cameroon’s upstream oil industry is centred on the waters of the Gulf of Guinea, in the Rio del Rey basin close to the border with Nigeria and the Douala/Kribi-Campos basin, and more recently in the Logorne-Birni basin along the border with Chad.
June 2, 2010
Importing gas and oil from the Former Soviet Union and the Middle East
February 28, 2010
Although all consumers saw oil prices rising over the course of 2009, the weakening of the US Dollar against most major currencies from its position at the end of 2008 offset to a degree the increase in dollar- enominated oil prices.
January 18, 2010
In retrospect, 2008 proved to be an exceptional year for the Kingdom of Saudi Arabia. A massive fiscal surplus thanks to record high oil prices in that year enabled the Saudi government to boost its core spending and at the same time build very large financial reserves that offer good support during these leaner times.
December 14, 2009
Since 1987 oil prices have been extremely volatile, ranging from lows of $11/bbl (for front month WTI) in December 1998 to a record high of $134/bbl in June 2008, followed by a precipitous decline to $42/bbl in January 2009 — a fall of $92/bbl (69%) in seven months — only to post a remarkable recovery to around $75/bbl these days.
December 2, 2009
Julian Lee’s Presentation from the Oil and Gas Colombian Congress 2009.
December 1, 2009
Churchill's famous dictum can easily be applied to the oil market by substituting 'the oil price' for Russia and 'the oil futures market and expectations' for Russian national interest. From January '09 onwards it had become clear that the world was experiencing the worst recession since the 1930s.
November 25, 2009
Julian Lee's presentation from the 2009 33rd CGES excutive retreat.
November 17, 2009
As it continues to face difficulties in agreeing transit terms and gas prices with Turkey, Azerbaijan is casting around for alternative ways of exporting its gas.
November 1, 2009
Over the past month Russia has signed two gas deals with neighbouring countries, one with China and another with Azerbaijan. The agreement with China seems to be another tiny step along a very long road that may, or may not, eventually lead to a multi-billion cubic metre per year gas trade...
October 1, 2009
On December 7th, UN climate negotiations will begin in Copenhagen under the auspices of the United Nations Framework Convention on Climate Change (UNFCCC).
September 29, 2009
Russian officials have been making more conciliatory noises about foreign investment in the country’s energy sector, only a year after passing legislation aimed at restricting the input of overseas firms.
September 2, 2009
OPEC is relying on China and India to drive oil demand growth and support prices in the coming years, but the OECD remains the Organisation’s largest market and important changes are taking place there, particularly in the seasonal pattern of oil consumption.
June 18, 2009
Oil production from the Gulf of Mexico (GoM) promises to be an increasingly important source of non-OPEC output in the coming years. However, while several large projects have come on stream in the US’ deepwater section over the last twelve months, Mexico has failed to staunch rapidly declining production rates from its offshore or realise its deepwater potential.
May 15, 2009
Venezuela moved quickly to begin expropriating oil service companies operating in Lake Maracaibo within hours of the National Assembly passing a law extending state control to all oil-related activities.
May 1, 2009
If plants could talk they would protest vehemently, for one of their principal nutrients is CO2 and the US' Environmental Protection Agency (EPA) has just decreed that CO2 — along with methane, CFCs and three other greenhouse gases.
February 12, 2008
Another proposed gas pipeline from the former Soviet Union to Europe has recently hit the headlines after Ukraine’s prime minister urged the EU to back the route that would run from the Caspian Sea to Europe via Ukraine.
© 2010 The Centre for Global Energy Studies – The Centre's main objective is to provide independent and objective information and analysis on the key energy issues of the day. The Centre specialisation include oil market forecasting, OPEC policy, strategic hedging and the politics and economics of the main oil producing regions. Telephone: +44 (0)20 7235 4334
