Jan 2009

Falling oil prices have put Opec into crisis mode and prompted another cut in quotas last month. Derek Brower looks at what its members need from the market.

GM and Chrysler, two of the US' biggest car makers, could be bankrupt by the time you read this, writes Derek Brower.

Billions of dollars of capital spending – exactly how much will not be known until final budgets are released – have been cut as Alberta's oil-sands developers rethink plans for mines, upgraders, refineries and pipelines

Global oil demand in 2008 contracted for the first time since 1983 and will fall again in 2009, says the IEA

Progress with CCS is slow, but it's still progress, say Gardiner Hill, director of CCS technology at BP, and Lewis Gillies, head of Hydrogen Energy

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

Falling oil prices have put Opec into crisis mode and prompted another cut in quotas last month

The credit crunch is hitting Russian companies hard, but it has not put a brake on their international ambitions. Latin America is its newest target

Geothermal energy offers the compelling prospect of baseload power generation that operates continuously – regardless of weather conditions, and with negligible fuel costs and greenhouse-gas (GHG) emissions

StatoilHydro's results have disappointed and high costs and lower oil prices will be painful. But strong cash flow offers attractive growth possibilities through M&A

The worldwide independent storage business is not immune to downturns in leading economies – but structural trends are expanding demand for terminal operations

A sharp increase in independent storage capacity has taken some of the fizz from the Singapore business, but logistical demand has been strong so far

Economic troubles might trim the demand for oil storage, but terminal operators hope their growing logistical business will ease the pain

GM and Chrysler, two of the US' biggest car makers, could be bankrupt by the time you read this

With an estimated 370 GW of untapped geo-thermal resources, US authorities are encouraging their development

Falling gasoline demand and price volatility have significantly reduced profits in the US refining sector

The financial crisis may slow growth in the US solar sector, but investment incentives should ensure expansion continues

Criminal charges against five companies are brought forward for the fire at the Buncefield oil storage terminal

Oil exports and production are set to fall in 2009

Tensions escalate between Cyprus and Turkey

Opec is restraining output voluntarily, but some Arabian peninsula oil producers have little choice

Reduced demand leads to European price slump

The EU launches offensive off the Somalian coast

France's Areva is stepping up the drive to win orders for its European Pressurised-water Reactor (EPR) in the UK

In June 2008, it would have looked crazy and pessimistic. Now the Energy Information Administration's (EIA) forecast for oil prices in 2009 – $51 a barrel – looks optimistic

The cost of designing and constructing refining and petrochemicals projects continues to rise

Copenhagen meeting draws nearer but previous conventions leave considerable doubt over what will be achieved

WHEN politicians, regulators and industry executives gathered at the mid-2008 World Petroleum Congress (WPC) in Madrid, US light crude futures were trading at $143 a barrel. What a different event it would have been a few months later

Gas supplies from Russia to Europe have been cut dramatically, amid a deteriorating commercial dispute between Russia's Gazprom and Ukraine's state-owned energy firm, Naftogaz. Flows are "seven-times less than normal", according to Gazprom's deputy chief executive, Alexander Medvedev, because of a unilateral decision by Ukraine to close three pipelines feeding the European market.

OIL PRICES firmed by about 2% in London on Tuesday as Opec ministers emphasised their efforts to bring "balance" to the oil market. By mid-afternoon, the front-month Brent contract in London was trading at just over $44/b. However, wider worries about the global economy continue to undermine sentiment.

GEOTHERMAL energy offers the compelling prospect of baseload power generation that operates continuously – regardless of weather conditions, and with negligible fuel costs and greenhouse-gas (GHG) emissions.

With an estimated 370 GW of untapped geo-thermal resources, US authorities are encouraging their development, writes Anne Feltus

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

Flows of Russian gas to Europe through Ukraine resumed today after a two-week interruption caused by a contractual dispute between Russia and Ukraine. Under the terms of a new contract, Ukrainian energy company Naftogaz will pay $360/'000 cubic metres of gas (cm) in first-quarter 2009 – double the $179.50/'000 cm it paid last year. However, the price should fall later in the year, in line with lower oil prices.

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, writes NJ Watson

Oil prices slumped on Tuesday, reversing a brief and unconvincing early rally. Talk that Opec output cuts may be starting to reduce excess oil supply pushed crude futures higher as trade began. A bout of cold weather provided support too.

The rate at which oilfields are maturing and declining is on the rise, so new fields must be brought on stream ever more quickly, writes the International Energy Agency's Trevor Morgan

THE JUBILEE oilfield, already described by Tullow Oil, the operator, as a world-class reservoir and under development for start-up in October next year, has been shown to be larger than expected. Results last month from two "bold step-out" wells, one in Kosmos' licence and one in Tullow's, have shown extensions to the southeast and to the northwest, while also confirming the excellent production characteristics of the reservoir.