Feb 2009

January's alarming and – for some – catastrophic contractual dispute between Russia and Ukraine will compel Europe to make greater efforts to diversify its natural gas supplies and to move away from gas as an energy source

Obama must face the task of balancing growing demand with reducing greenhouse-gas emissions, affordability and security

Rising oil inventories and weak demand kept oil prices under pressure last month. On 21 January, Brent March futures were just below $44/b and the March WTI contract was trading at around a $2/b discount to Brent

Demand drops as global economic growth almost halves

Cleaner burning synthetic transport fuels offer air quality improvements and can provide supply security. But synfuels are destined to remain outside mainstream supply

As commodity prices soared, so did the cost of finding and developing the world's oil and gas. But what now

The gas spat between Russia and Ukraine puts energy security back at the top of the EU's agenda. But the options for Europe remain limited unless it changes strategy

Geography, history and the preparations countries put in place after the 2006 gas war between Russia and Ukraine dictated who suffered most in the latest gas crisis

The rate at which oilfields are maturing and declining is on the rise, so new fields must be brought on stream ever more quickly

Of Europe's large industrialised countries, Italy has to fight the toughest battles to secure its energy supplies. For many years hopes have been pinned on gas – but now nuclear is back in the picture

The gas-starved countries of the Mideast Gulf are looking to Iran to satisfy their import needs with several new pipeline schemes. But their prospects are uncertain

The US pipeline system is in need of maintenance. But inspecting and repairing pipelines is no easy task

It is unclear whether Russia or Ukraine won their latest – and most dangerous – gas war. But Europe was left looking more vulnerable than ever to supply disruptions

The company's financial results and forecasts are positive, but falling energy prices and the global financial crisis may yet take their toll on Vestas

The economics of wind energy may be shakier, given falling energy prices and a tight credit environment, but the need for countries to meet tough renewable-energy targets should help the industry ride the downturn

In a difficult investment climate for the wind sector, technological developments aimed at generating more power from turbines and reducing costs are increasingly important

Asia is back on the radar screen of Canadian pipeline firms, as oil and gas producers look beyond their traditional US export markets. Companies are concerned that planned environmental measures from US President Barack Obama's administration will restrict the flow of oil-sands-derived crude to the US

With both Opec and the US Energy Information Administration (EIA) forecasting a steep fall in oil demand in 2009, Saudi Arabia is cajoling its fellow Opec producers to stick to their quotas. The kingdom has threatened to make large unilateral cuts in output if others fail to live up to their word

The global economic downturn is causing havoc in oil markets. Last month, the International Energy Agency (IEA) again revised its forecast demand figures downwards, noting that stocks are at record levels. The crude build in tanks at Cushing, Oklahoma, is now so large that WTI's role as an international benchmark is also under threat

Total is set to buy half of Amso

Mechanical glitch causes shutdown for Qatargas

GTL's technology means Petrobras will no longer have to flare gas

A consortium of 26 corporations and five environmental groups has asked federal policymakers to enact what it terms as "a regulated economy-wide, market-driven approach to climate protection"

Joint venture between Dow Chemical and Petrochemical Industries collapses after worsening economic conditions

More power sector corporate deals were completed in 2008 than in 2007, but the overall value of transactions fell by 41% as companies adopted a "wait-and-see" approach because of the financial crisis, says PricewaterhouseCoopers (PwC)

The nightmare combination of overextended exploration companies, falling oil prices and a drying-up of credit found its first victim when Canada's Oilexco took its wholly owned UK subsidiary, Oilexco North Sea, to the administrators last month

The UK has some of the world's most powerful tidal conditions but only now is the tidal industry starting to make progress

CRUDE oil futures in London were hovering at around $44/b on Tuesday afternoon, little changed from Monday, as the market awaited direction from stocks figures to be released in the US on Wednesday morning. In New York, the front-month contract for light sweet crude oil retained its sharp discount to London's Brent, trading at around $40/b.

The economics of wind energy may be shakier, given falling energy prices and a tight credit environment, but the need for countries to meet tough renewable-energy targets should help the industry ride the downturn, writes Ian Lewis

The company's financial results and forecasts are positive, but falling energy prices and the global financial crisis may yet take their toll on Vestas, writes NJ Watson

THE front-month contract for light sweet crude oil on Nymex was trading at just over $41/b on Tuesday, after the US Senate approved a plan designed to boost the country's economy, the world's largest oil market.

Obama must face the task of balancing growing demand with reducing greenhouse-gas emissions, affordability and security

A CONSORTIUM of 26 corporations and five environmental groups has asked federal policymakers to enact what it terms as "a regulated economy-wide, market-driven approach to climate protection." In testimony before the House Energy and Commerce Committee on 15 January, representatives of the US Climate Action Partnership (Uscap) presented A Blueprint for Legislative Action – a detailed plan for reducing greenhouse-gas (GHG) emissions by 80% from 2005 levels by 2050, which, it says, are "aggressive emissions-reduction targets that can be achieved at manageable costs to the economy."

Short-term concerns about low oil prices should not affect long-term investment in oil projects, says IEA executive director Nobuo Tanaka.

Opec's efforts to support oil prices are, so far, failing to gain traction. Oil futures remain under severe downward pressure: on Wednesday, US light crude futures for March delivery, although up by $0.22 a barrel on the day, were trading at $35.15/b.

JANUARY's alarming and – for some – catastrophic contractual dispute between Russia and Ukraine will compel Europe to make greater efforts to diversify its natural gas supplies and to move away from gas as an energy source.

The gas spat between Russia and Ukraine puts energy security back at the top of the EU's agenda. But the options for Europe remain limited unless it changes strategy, argues Derek Brower

PRODUCTION growth from the oil sands will come to a virtual standstill over the next six years and spending will fall by at least C$97bn ($78bn) from now until 2020. But new investment could still reach C$218bn in the 2009-20 period, according to the Canadian Energy Research Institute (Ceri).

Oil prices are holding steady at around $40 a barrel despite further falls in the world's main stock indices. But given the relentless flow of bad economic news and bearish demand forecasts, oil's chances of a recovery remain remote. On Monday, the Dow Jones Industrial Average closed at its lowest level for 12 years, undermined by growing concerns about the effectiveness of the US' economic stimulus and bank-rescue strategy. Japanese shares were close to a 26-year low and European stocks are also continuing to fall.

The number of working land rigs in the US has fallen to a three-year low and the level of drilling is expected to fall further, writes Anne Feltus