Europe & Eurasia
The plan and the reality
1 January 2003
The European Union (EU) agreed a new deadline for opening its energy markets, in December. Although a victory in principle for liberalisation, at present there is anything but a level playing field in the EU gas and electricity markets. David Townsend reports
Enlarged energy
1 January 2003
The arrival of the first wave of new countries acceding to the European Union, in 2004, will change the energy landscape of the continent. David Townsend looks at some of the implications for the natural gas and electricity sectors from these newcomers
Tax and be damned
1 July 2002
The UK’s decision to increase North Sea taxes has infuriated upstream operators. Although the North Sea’s fiscal regime remains among the most generous in the world, operators say the change will wipe value off the upstream portfolios of many of the players and force further asset rationalisations, writes Derek Brower
Hard choices
1 March 2002
EU to spur deregulation
1 January 2002
A strong new impulse towards a rapid 100% opening of gas and electricity markets is expected to come from EU heads of state and government when they meet in Barcelona, in March, writes Helen Avati
Polishing the family silver
1 December 2000
Prior to last month’s party conference, Petroleum Economist spoke to Norway’s state secretary at the ministry of oil and energy, Bjørg Sandal, about the government’s thinking behind the proposed changes.
EU looks to secure Russian supply future
1 December 2000
The recent high-level political initiative for an EU-Russia “strategic energy partnership” has refocused attention on the need to establish a better legal framework for foreign investors in Russia. One of the main instruments available to achieve this aim is the Energy Charter Treaty. Dr Ria Kemper, secretary- general of the Energy Charter Secretariat, explains why completion of Russia’s ratification of this treaty is important for EU-Russian energy co-operation.
A liberating experience
1 October 2000
While there is some disparity between various member states on implementing the EU’s gas directive, the process is now firmly entrenched in the energy policies of most governments and the promise of a fully-liberalised energy market is now a reality.
The least that energy traders should know about the FSMA
1 October 2000
It is unusual for Petroleum Economist to start any article with a disclaimer, but there is something about speaking to the Financial Services Authority (FSA) that induces paranoia.
The power of protest is not acceptable
1 October 2000
When four European Union member governments caved in to protestors, who were demonstrating against high fuel prices, by cutting taxes it brought only a mild rebuke from the European Commission and a request for the tax cuts to be explained. However, action is unlikely, or will take a long time.
High-level backing for PSAs
1 October 2000
President Vladimir Putin broke his journey to Japan in early September to attend a conference about production-sharing agreements (PSAs) that was taking place on Sakhalin Island in the Russian Far East. PSAs are one of the most important mechanisms for attracting outside investment, the president told delegates.
Presidential intervention
1 October 2000
More sabre rattling by the Commission
1 September 2000
The Commission has asked the French and Belgian governments why they haven’t introduced secondary leglisation to comply fully with the gas directive.
France gets busy
1 September 2000
The Great Game, still
1 September 2000