Aug 2002

In the search for reserves, oil companies are increasingly moving into highly sensitive areas – from environmental, political, economic and social perspectives. They are being told they must rectify the mistakes of the past, often in countries where, previously, there was an emphasis on production, with little attention paid to, or often local requirement for, observation of international standards of behaviour, writes Derek Bamber

Schlumberger’s acquisition of Sema signalled, in no uncertain terms, a commitment to IT and enables the company to accelerate its drive towards real-time oil and gas reservoir management. Euan Baird, chairman and CEO, discusses the company’s strategy. Tom Nicholls reports

Political and economic risk have always been characteristics of operating in South America. But the appetite for financing energy projects and business is especially weak now, even if many of the projects remain sound. It is a difficult time for bankers in South America’s energy sector, finds Derek Brower

Contagion from Argentina’s economic crisis has not dragged down the continent, but it is has added to the risks already associated with doing business in the main energy countries of South America. Derek Brower examines the investment environment for energy projects in each of the countries

As expected, Opec chose not to change its production rates at its most recent meeting in Vienna, preferring to postpone any decision on changing output until its next official session, in September. David Townsend, in Vienna, looks at the group’s latest decision, the thinking behind it and its impact on the market

The drastic impact on Italy’s oil products market of the country’s escalating gas consumption – forecast to rise by a third by 2015 – is examined in a new study. Findings include the large fuel oil market shrinking to less than a third of its present size by 2015, with the gasoil market growing and then declining to less than its present size and total oil products demand declining by 15%. If fulfilled, the forecast will place seemingly impossible demands on Italy’s refiners, Martin Quinlan writes

With crude production rising and domestic demand rather flat, Russia is determined to push more oil onto world markets. Until now, exports have mostly gone to Europe, with worldwide market share languishing below 10%. But several ambitious pipeline projects should start to expand the scope of the country’s oil trade in the next few years, writes Isabel Gorst

If the 20th century was the carbon age, there is an argument the 21st century will be the renewables era. For advocates of “green” energy sources, the millennium has started with unprecedented optimism and, in wind power, industrial growth on a scale never before witnessed, writes Dan Rigden

Oil companies take renewable energy and alternative fuels seriously. The involvement of the biggest players varies enormously, but all are, at the very least, keeping a “watching brief” on the subject and most are committed to significant research into hydrogen technology and fuel cells, writes Dan Rigden

Despite California’s problems, electricity market reforms in most OECD countries are proving successful, thanks to significant investment. However, as a new report warns, there is a need for major new funding in some areas, especially transmission, which remains mostly regulated. David Townsend reports

The vast energy storehouse in Alberta’s oil sands – promoted as the most politically stable non-Opec oil source for the US – is suddenly beset by economic and environmental woes, writes WJ Simpson

Massive industry restructuring since privatisation has benefited consumers, but environmental policy goals are likely to be missed By Keith Palmer NM Rothschild & sons

Construction risk mitigation measures are crucial if financing is to be forthcoming for power generation projects. But achieving the balance between complexity and competition in the EPC arrangements is fundamental

With carbon emissions limits comes a potential impact on asset values which should not be underestimated. Will carbon emerge as the new energy commodity and, if so, what can be done to prepare for its financial influence?

Exploiting tidal energy for power generation is not a new idea, but has limited commercial application. Now a new idea may be about to change that perception

Africa's power sector may be considered a no-go area for investors, but new reform programmes are opening the door of opportunity to some early players

US forays into the European energy market have met with limited success. What can Europe learn as they look to expand across the Atlantic in the current resurgence of European energy players?

Predicting the weather has always been an inexact science, with long-term forecasts largely regarded as impossible. But now new tools are becoming available that can help energy players mitigate weather risks