Sep 2005

Oil futures scaled new heights last month, with the front month of US light crude futures hitting $67.10/b on 12 August and Brent reaching $66.45/b

The new hydrocarbons law gives foreign companies control over the exploitation of new acreage in the country. But will it be effective enough to keep Sonatrach at arm's length? Ayesha Daya reports

The UK's Centrica wants a bigger slice of the European gas market and it wants Brussels to level the playing field once and for all. Robert Lea writes

The worldwide chemicals business climbed out of its long slump last year and achieved its best results since 1997. The sector's characteristic cyclicality points to an acceleration of the recovery this year – but high prices for feedstocks and energy could check the upturn, Martin Quinlan writes

Developments in Washington, in states throughout the country and in the business community show the US may be approaching a tipping point on the climate-change issue, writes Truman Semans, director for markets and business strategy at the Pew Center on Global Climate Change

With oil prices appearing to have settled in the $45-55/b range and with renewed debate over a looming plateau in conventional oil production, attention is once more turning to the promise and potential of non-conventional oil, writes Tony Reinsch, director, strategy and competition, Upstream Group, PFC Energy

Private individuals, as well as pension funds, mutual funds and other investors who cannot deal directly in the physical or derivative oil markets have in the past had to satisfy their appetite for oil price exposure by investing in oil-company shares. Oil Securities is seeking to change that with a new oil security. Liz Bossley investigates

Refining margins have risen in recent years and should stay high for several more. Brad VanTassel, vice-president and director, and Oliver Steen, practice area manager, The Boston Consulting Group, Houston, examine the factors behind the change in the industry's structure and how investment should be handled

Refiners in many locations are making substantial profits, mainly as a result of constraints in the industry's conversion capacity. The same constraints are a contributing factor to the present high prices for light crudes. The long view says a new wave of conversion investment is needed – but many refiners prefer the short view, Martin Quinlan writes

Once upon a time, economists praised the German economy for its long-term stability and steady growth. If that reputation has taken a knock in recent years, the country's two biggest utilities, E.On and RWE, have not noticed. Analysts and investors alike continue to hold both in high regard, writes Derek Brower

The Serbian government expects to raise about $3.6bn this year by privatising controlling interests in a number of banks and large businesses. Anthony Sinclair and Sunil Puri, international arbitration group, Allen & Overy, explain why bilateral investment treaties should be considered by would-be foreign investors

The petrochemicals industry has altered immensely over the last century, but there remain certain constants. Shell is one of them, writes Martin Clark