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Petroleum Economist

Africa's LNG export capacity – already more than a quarter of the world total – could double over the coming five years, with more to come after that if plans under discussion firm up. The main brakes on development are rising construction costs and, in Nigeria, security concerns, Martin Quinlan writes
There are plans for up to 68m t/y of new export capacity in Australia. If all these projects come to fruition, they would help to relieve an increasingly tight supply situation, writes Ian Lewis
The oil price is still above $60/b. But not by much. And, with the global economy still in turmoil, the chances of further losses seem greater than the prospect of a sustained rally, say analysts.
OIL PRICES slumped by over 5% on Tuesday, as concerns about the severity of global recession intensified. With the world's main stock indices falling steeply, Brent futures for December delivery were $3.01 a barrel lower at $56.07/b. WTI futures for December delivery were down by $2.25/b at $60.16/b – having earlier briefly moved below $60/b.
OIL COMPANIES must make technology and technical competence core parts of their business, avoiding "the mistakes of 20 years ago" when the trend was to outsource these areas to contractors, says Andy Inglis, BP's head of exploration and production.
The region's oil- and gas-based economies require highly skilled, highly educated engineers. But a lack of sufficient local engineering programmes means the required engineers are trained elsewhere. Texas A&M University at Qatar seeks to change that. By Mark Weichold, dean and chief executive, Texas A&M University at Qatar
Oil is due to start flowing from the potentially billion-barrel Jubilee field in October 2010, with the prospect of more to come from structures nearby. Cracking the area's deep-water geology has led to forecasts that Ghana will become Africa's next oil-boom state, Martin Quinlan writes
Making biofuels is no longer the attractive proposition its was when oil was trading at over $100/b, but demand driven by transport-fuels quotas should see the industry through the economic slump, writes Ian Lewis
Oil prices got off to a strong start this week, rising by $5 a barrel on Monday to comfortably over $50/b. Traders attributed the rally to firmer equities, following the Citigroup bail-out, a weaker US dollar – boosting the appeal of commodities as a currency hedge – and cold weather. The growing prospect of another cut in Opec production at its 29 November meeting in Cairo was also seen as supportive.