Sep 2003

It may still be a high-risk exploration area, but interest is rising in offshore gas, where confirmation of a 2 trillion cf field may come in January. The imminent results of a licensing round will demonstrate the extent of international excitement. The country could be on the verge of shedding its old reputation as the dry-hole capital of the world. Nigel Ash investigates

The tantalising prospect of EU membership has accelerated the restructuring along Western lines of central and eastern Europe’s downstream oil markets. The reforms are nearly all in place, consigning Communist-era structures to the scrap-heap of history, writes Ivan Berenyi

Next month, Ramco Energy expects to land gas, its first production as operator, from the Seven Heads field in the Celtic Sea, off the south coast of Ireland. By world standards, the new supply is important only to Ramco and to Ireland. But it could all have been very different, even though the founder and executive chairman of Ramco Energy, Stephen Remp, is a fourth-generation US oilman, reports Derek Bamber

Brazil is grappling with power market reform, outlining the main directions electricity policy will take. Although the detail is yet to be worked out, hydro-power will take precedence over other forms of generation. The future of gas-fired power seems far from assured, as do the prospects for the gas industry. Tom Nicholls reports

With refining margins under pressure, the industry must find ways to remain profitable. Delayed coking offers the opportunity to exploit bottom-of-the-barrel products, writes Graham Phillips, technology manager, refining, Michael Stewart, senior planning consultant, and Randy Wolf, regional vice-president, Foster Wheeler

Proposals to ban the gasoline blending additive MTBE will be expensive for refiners and drivers alike. Meanwhile, the switch to greener motor fuels will bring cleaner air – and a massive bill for the refiners as they adapt to meet new specifications. The result could be a drop in refining capacity. Derek Brower reports

Refining margins, backed up by the companies’ first-half results, point to a substantial improvement in the business environment for the refining industry this year. Strong US demand for gasoline is the driver, Martin Quinlan writes

Every dark cloud has a silver lining, goes the old adage. For the Middle East in 2003, this is doubly true. War in Iraq has helped deliver a heady cocktail of booming prices and robust output for most producers, as well as galvanising long-neglected upstream openings. James Gavin reports