Feb 2004

While power and gas traders have established a base camp in the foothills of the emissions learning curve, most oil traders are still unaware of the mountain they must climb before January 2005. Liz Bossley examines the significance of the European Emissions Trading Scheme for oil traders

The main topic on the energy agenda of the European Union (EU) in coming months will be security of electricity supply and infrastructure investments

Wind power is the fastest-growing sector of both the European and US electricity industries, according to a new report. With continuing government subsidies and technological advances the trend is set to continue, as countries target increased electricity generation from renewable sources. NJ Watson reports

Oil production exceeded 1m b/d for the first time at the turn of the year and is on course to double by 2007 or 2008. Increasing exports and revenues are raising Angola’s profile internationally and the government has been adjusting its policies to suit its new status. However, some remain to be convinced that the bad old days of financial mismanagement are past, Martin Quinlan writes

This year should see continued strong emphasis on LNG growth, as demand for natural gas accelerates. By 2025, gas may overtake oil as the main source of world primary energy demand. By Philip Watts, chairman of the committee of managing directors, Royal Dutch/Shell Group

The investment community’s relationship with the Middle East has never been more central than it is today. Far too often, the focus is on geopolitics, conflict and cultural differences. Instead, we must focus on partnership, and we must do so quickly, before those differences are allowed to cause further divides. By David J O’Reilly, chairman and chief executive officer, ChevronTexaco

Predicting the short-term future of energy markets is impossible, but, by recognising the issues that will shape the future, plans can be made now to ensure a healthy industry in 30 years time. By Claude Mandil, executive director, International Energy Agency

The prospect of further oil and gas investment is opening up in Sudan as the guns fall silent on Africa’s longest-running civil war. Martin Clark reports

The $3.7bn Chad-Cameroon pipeline – one of the largest investment projects ever seen in sub-Saharan Africa – delivered first oil to the Kribi floating export terminal, off the Atlantic coast, last October. It was a major triumph for ExxonMobil and all the parties involved, Martin Clark writes

Attempts by Asian countries to reduce reliance on Middle East oil are underpinning Russian desires to establish new eastern markets. But agreement on pipeline routes remains elusive, writes James Gavin

The controversial OCP pipeline, which transports crude from Amazon oilfields to the Pacific, began operating in September. But there are doubts whether this will act as a catalyst to spark the oil boom predicted, and hoped for, by the government to spark the country’s economic revival. NJ Watson reports

As tanker congestion in the Bosporus worsens, the importance of transport routes that bypass the strait grows. However, a lack of leadership from Bulgaria, Greece and Russia has meant delays to construction of the proposed Burgas-Alexandroupolis pipeline. NJ Watson reports

The UK’s gas surplus could turn into a shortage as soon as next year and by the end of the decade the country could be importing half of its gas needs. Pipelines from Norway, Belgium and the Netherlands, and three planned LNG receiving terminals will amply fill the gap. Tom Nicholls reports

As the oil and gas industry grapples with the challenges of the 21st century, venturing into ever-deeper waters and experimenting with technology, the pipeline business is growing up fast. Martin Clark reports

Iraq’s pipeline capacity once ran to near 6m b/d. But neglect, sabotage and politics are barring the way to the country’s full re-emergence as a global oil player. James Gavin reports

In its efforts to survive the Kremlin's onslaught intact, Yukos is courting Western media and opinion. By inviting journalists to visit its social projects in Siberia, the company hoped to show that it is indispensable to the welfare of Russia. Derek Brower reports from Siberia