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          Petroleum Economist March 2009 Issue

          Leader

          To invest or not to invest

          Analysis

          Angola

          Angola no longer a tiger

          With production curtailed by its Opec quota, the long-planned licensing round on ice and the president recently back from asking China for another loan, the Angola of 2009 is very different from the rapidly expanding producer of the past 10 years, Martin Quinlan writes

          Analysis

          Pace in Angola's deep water slows

          The rapid pace of exploration and development behind Angola's remarkable growth as a deep-water producer has slowed, Martin Quinlan writes

          Latin America

          Mexican energy reforms a start, but not enough to halt declining output

          Officials are hailing Mexico's recent energy reforms as a significant step towards reversing sliding oil production, but doubts abound outside government circles, writes Robert Olsen

          Analysis

          Venezuela's oil revolution is stalling

          Falling oil prices are playing havoc with the ambitions of the world's petro-nationalist countries. Venezuela has some backtracking to do. Derek Brower reports

          Petrobras keeps its options open

          Brazil's state-controlled oil company is not cutting investment yet, but may have to if oil prices continue to fall or its financing options look too unappealing, writes Tom Nicholls

          United States

          Arra launches Obama's green revolution

          What provisions does the American Recovery and Reinvestment Act make for the US energy sector? Stephen Angle, John S Decker, Debra J Duncan, L Price Manford, and Christine L Vaughn, partners, Vinson & Elkins LLP, write

          Analysis

          Troubled times for US onshore drillers

          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

          Shipping

          The tide turns for tanker sector

          Lower oil prices and the economic downturn make the outlook less certain for tanker owners, but shipbuilders still have substantial orders on their books, writes Martin Clark

          Analysis

          Tanking sector looks to ride the storm

          Policy changes, the economic slowdown and the vagaries of the oil market are assailing the global tanking business. A recovery could follow, but not until around the start of the next decade, says Nikhil Jain

          The Report Card

          E.On makes hay while the rain pours

          Despite the economic downturn, E.On expects to report strong results for 2008 and maintain the momentum in 2009, writes NJ Watson

          Focus

          Exploration and production

          Don't repeat past mistakes, says IEA

          Canada: Oil-sands production growth scaled back, but the majors press ahead

          Bolivia: Cementing new friendships

          Norway: Sevan platform for first Barents Sea oilfield

          Pipelines

          China comes to Russia's rescue

          Norway: New gas-export pipeline gets state backing

          Investment

          Mideast NOCs take another look at expansion projects

          Natural gas

          Europe: Terms of Russia/Ukraine gas deal a recipe for further dispute

          Russia: Sakhalin Energy starts up

          Alternative energy

          Colombia: "Huge potential" in biofuels

          Power

          Central Europe: Bosnian Serb politics derail €1.5bn energy deal

          UK: Natural gas to plug energy gap

          The Back Page

          The Back Page

          Pragmatism the key to green progress

          Engineering a sustainable building is easy, says Max Fordham. But poor planning is preventing progress. Interview by Tom Nicholls

          News in brief

          Western Europe

          Central and Eastern Europe

          Africa

          North America

          Latin America

          Middle East

          Asia and Australasia

          Markets

          Little reason for optimism

          World oil and gas production

          Opec cuts spread across global supply


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