Feb 2008

As the scramble for oil and gas assets intensifies, international oil companies need to adapt to two related challenges: the resurgence of resource nationalism and stiffer competition from national oil companies as they expand beyond their borders. Alex Forbes reports

There are three ways of doing business with ExxonMobil: "The Exxon way, the Exxon way and the Exxon way. In that order." Tom Nicholls writes

Why are crude prices so high? Some say supply and demand, some say speculators. Shortages of refinery capacity are making a significant contribution, Martin Quinlan writes

Serbia is the latest country to fall under Gazprom's spell. But a new deal raises more questions than it answers, writes Derek Brower

A crude pipeline that avoids the bottleneck of the Malacca Straits has plenty of appeal for Mideast Gulf producers shipping oil to east Asia. But any such project faces significant hurdles, writes Martin Clark

New pipeline capacity is urgently needed to bring gas from the US' Rocky Mountains to market, writes Anne Feltus

South America's plans for a regional gas pipeline network are being quietly dropped in favour of LNG, writes Robert Cauclanis

Improving relations with its neighbours may help to enhance Poland's energy-supply security, writes NJ Watson

Part of the solution to global warming is to develop buildings that give back to the environment – like trees. So says architect and design visionary William McDonough. Interview by Alex Forbes

No NOC or IOC, no matter how large or capable, has all the answers to the challenges ahead. Without co-operation, the energy sector will unlikely be able to make the $20 trillion investment in infrastructure necessary to meet rising demand. By Milton Costa Filho, general manager, and Pedro Martínez Lara, technical assistant, Petrobras Mexico

Volatility in the crude markets persists, as bearish sentiment last week gave way to a sharp spike in the price of oil in New York. The contract for March delivery of light sweet crude was trading at $91.88/b on Monday, up by around $3.50/b from Thursday.

The shut-down of two nuclear plants has forced utilities to pay high prices for spot LNG cargoes. But with negligible indigenous energy resources, import-dependent Japan has little choice, writes Ian Lewis

The gas industry in Japan faces a number of challenges – market deregulation, rising LNG prices and the need to reduce emissions. The Japan Gas Association's Gas Vision 2030 encompasses a number of initiatives that aim to reduce significantly CO2 emissions by 2030. By Haruki Takahashi, vice-chairman, the Japan Gas Association

Several days of strong buying have pushed oil prices back into the mid-$90/b range. On Monday, the market consolidated gains of more than $8/b in the past week. In London, the price for Brent crude for April delivery had increased to more than $95/b. In New York, the contract for March delivery of light sweet crude oil traded at up to $96.24/b.

The chances of a further weakening in oil prices are increasing as concern over the economic outlook for the US, the world's largest energy consumer, builds. For now, prices are proving resilient: at around $90 a barrel, futures are level with last week and are still only 10% below the record high of above $100/b set at the start of the year.

Oil prices remain at around $100 a barrel and are likely to hold steady over the next few days. On Tuesday, Nymex light crude futures were trading at just over $99/b and Brent futures were just short of $98/b.

Proponents of biofuels in the transport sector have been forced on to the defensive by findings suggesting the environmental benefits may not be as great as previously suggested. But Western governments still believe the sector has a big future, writes Ian Lewis

Over the next 15-20 years, biofuels could meet much more of the world's energy needs. But the economic, environmental and social effects of development must be assessed to inform strategies. By Alexander Müller, assistant director-general, Natural Resources Management and Environment Department, UN Food and Agriculture Organization