Trends
Wind sector set to ride out turbulence
3 February 2009
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
Vestas manages the winds of change
3 February 2009
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
Prices under downward pressure
1 February 2009
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
Costs stay high despite oil-price slump
1 February 2009
As commodity prices soared, so did the cost of finding and developing the world's oil and gas. But what now
Demand slides and WTI is cut adrift
1 February 2009
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
Weak demand keeps oil price under pressure
27 January 2009
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.
Running faster just to stand still
27 January 2009
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
Ghana: 'World-class' Jubilee oilfield larger than expected
27 January 2009
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.
Back to the drawing board for Europe's energy diversification plans DUPLICATE 2745774
20 January 2009
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
Gas taps on for EU; some Opec taps yet to be turned off
20 January 2009
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.
Bulgaria and Serbia feel the heat
20 January 2009
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 price weakness persists despite Opec efforts
13 January 2009
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.
Unlocking the value of the world's geothermal resources
13 January 2009
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.
Power from the earth's heat
13 January 2009
With an estimated 370 GW of untapped geo-thermal resources, US authorities are encouraging their development, writes Anne Feltus
Frosty relations
6 January 2009
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.
Falling crude prices bite in the oil sands
5 January 2009
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
Oil demand contracts for the first time in 25 years
5 January 2009
Global oil demand in 2008 contracted for the first time since 1983 and will fall again in 2009, says the IEA
The capital spending conundrum
5 January 2009
Oil companies are cutting back their capex plans, but they need to be ready to respond to any upturn in demand
What motivates Opec
5 January 2009
Falling oil prices have put Opec into crisis mode and prompted another cut in quotas last month
Arabia's poor relations face up to the law of diminishing returns
5 January 2009
Opec is restraining output voluntarily, but some Arabian peninsula oil producers have little choice
Oil Markets: What motivates Opec
1 January 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.
North America: US Senate rejects automaker bailout
1 January 2009
GM and Chrysler, two of the US' biggest car makers, could be bankrupt by the time you read this, writes Derek Brower.
Oil prices rise to $45/b as Opec gathers in Algeria
16 December 2008
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.
Inching towards Copenhagen
16 December 2008
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.
The capital spending conundrum
16 December 2008
Oil companies are cutting back their capex plans, but they need to be ready to respond to any upturn in demand, writes Ian Lewis