Dec 2008

"The barbarians have long since arrived at the gates of world oil, have achieved control of many commanding heights and should not now be expected to retreat." Derek Brower speaks to author Duncan Clarke

With a healthy inventory of upstream projects in development, Shell must put its operational mettle to the test

As investment conditions worsen, private-sector oil companies are pulling out of Latin America. ExxonMobil is leading the way

Competition to construct a pipeline to deliver gas from the Arctic to US markets is intensifying

The independent storage business is doing well, driven by high refinery utilisation, growth in long-distance trade and high demand for products. Over-expansion in new capacity is the main threat

By the end of March, two new independent storage terminals will have opened their pipes and the Singapore business will have two new operators. Some say the rise in capacity is bound to depress the market – but take-up indicates that the demand is there

Operators at the big ARA terminals are benefiting from long-distance trade and new products

The Caspian region has a vital role to play in improving European – and UK – energy security, writes UK energy minister Malcolm Wicks

Trinidad and Tobago must find more gas if it is to expand its export business and local gas-based industries

Crude oil futures have broken below $50/b, following the release of yet more poor economic data from the world's large economies. This morning in London, the Ice front-month contract traded as low as $46/b before buying firmed prices above $47/b. But further losses are likely, say analysts.

Under Barack Obama, the US will introduce its own cap-and-trade greenhouse-gas emissions scheme and take centre stage in international climate talks, writes Tom Nicholls

INVESTMENT in carbon capture and storage (CCS) projects is "nowhere near enough" to meet goals set out by G8 governments in July, claims the International Energy Agency (IEA). CCS is widely regarded as one of the most important technologies in bringing carbon emissions down.

The Brent contract for January delivery was firm this morning in London, trading at around $43.70/b, reflecting a hint optimism about the world economy that prompted a surge in global commodity and equity markets on Monday. Opec's assertion that it would cut production at its meeting in Oran, Algeria, next week also injected some strength into oil prices, which had fallen to four-year lows beneath $40/b last week.

Rising oil demand from China was one force behind the bull-run in energy markets of the last few years. Can the market rely on the country's economy to rescue prices? Derek Brower reports

SHADY financiers, dodgy lenders, poor borrowers, the Fed, George Bush, short traders, bad regulation, panic. Now there's another culprit to blame for the global recession: the oil price.

Oil prices firmed on Tuesday in anticipation of another cut in Opec's oil production. With cartel officials gathering in Oran, Algeria, for tomorrow's summit, Brent futures for January delivery were up by $0.94 a barrel at $45.54/b at midday. The January WTI contract was $0.88/b higher at $45.39/b.

THE UN claims it remains on course to reach a new international agreement on climate change by December 2009, following last month's meeting in Poznañ, Poland. In a separate meeting last month, European leaders confirmed the EU's goals of cutting greenhouse-gas emissions by 20% below 1990 levels by 2020 and deriving 20% of its energy from renewables by the same date.

Oil companies are cutting back their capex plans, but they need to be ready to respond to any upturn in demand, writes Ian Lewis