Jan 2000

Kuwait recently unveiled its plans for doubling production from its northern oilfields with, for the first time since nationalisation in 1975, the help of foreign companies, and the move has strong implications for the country.

Vopak – the merged Pakhoed and Van Ommeren – became a reality in November 1999, prompting the largest corporate shake-up in worldwide independent storage.

ANALYSING Singapore’s independent oil storage business – and its refining, supply and trading businesses – has, for some years now, been an exercise in trying to explain the unexpected. For a while, “booming consumption in Asia” was a useful explanation for continuing good business, despite the growth of refining and storage capacity in “the regions”, as Singaporeans refer to Asia’s developing consumption centres

INDEPENDENT storage operators at the big “gateway” ports serving continental Europe had a healthy year in 1998, and continuing good conditions characterised much of 1999. But it seems that the trends behind the strong demand have changed, leading some to doubt whether 2000 will be equally satisfactory.

The US storage market has just undergone an interesting 12 months, which has changed the face of the sector.

In June 1997, Hungary became the first central European country to join the International Energy Agency (IEA). One month later, after years of mutual observation and cautious dialogue, the European Commission recommended the opening of formal negotiations with Poland, Hungary, the Czech Republic, Slovenia and Estonia, with a view to accession of these countries to the European Union (EU). Entry to the EU requires candidates to make their legislation compatible with EU standards and rules, as well as achieving convergence on monetary, economic, military and environmental policies. It represents a huge effort and needs careful planning, writes Marc Partridge, head of oil and gas project finance, Crédit Lyonnais.

A discovery by Triton, in a little-explored area, could make Equatorial Guinea the latest west African deep-water hot spot.

Security of supply has become a strategic priority, rivalling the problems expected when the market is opened to competition.

In this second part of trading Brent, the tools that emerged to handle the different needs of the small oil producers and the very large players are examined, as well as the evolution of the Brent OTC and IPE swaps and options markets.

Having lost the battle to prevent Tyumen Oil acquiring one of its prize assets, BP Amoco is reconsidering its position in Russia.

Shell’s move into Iran should be viewed as part of the company’s growing presence in the Middle East as a whole, with each new opportunity to participate being fully investigated. That could mean it becoming an integrated gas and power company in Saudi Arabia.

Growth in condensates trade, spurred by the Asian recovery, may be distorting the regional oil market, writes Al Troner, managing director, Asia Pacific Energy Consulting

The radical restructuring of National Power, in which its domestic and international activities are to split, has raised the prospect of an imminent takeover. But those with a view to buying up UK generation capacity may fall foul of the DTI as the government struggles to support its indigenous coal production.

Is taxation an effective means of curbing environmental damage caused by emissions of “greenhouse” gases? The UK Chemical Industries Association thinks so. The World Wide Fund for Nature disagrees

The internet may open the doors to power traders, providing transparency, liquidity, security and lowering prices. But, there is far, far more on offer

The threat of global warming is real. Governments have set emission limits in the Kyoto Protocol. Now they will target industry. What mechanisms will be used for emission reductions; what are the likely impacts on the electricity sector?

In the UK a tax on emissions - or Climate Change Levy - will be introduced. But it paves the way for an emissions trading market in which participants will be able to achieve energy efficiency improvements at least cost

Traditional VAR and PAR risk assessment methodologies are fundamentally flawed when it comes to the global energy business. The solution: a new generation of risk management tools

Energy services companies (ESCOs) were born out of the need to maintain profits against a background of increasing competition following industry restructuring. Now, they are synonymous with value added benefits