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          Petroleum Economist October 2009 Issue

          Leader

          Made in Brazil

          Analysis

          Brazil

          Pre-salt laws put Petrobras centre stage

          Petrobras says it's capable of developing Brazil's pre-salt oil and gas resources. The government is giving it the chance, writes Tom Nicholls

          United Kingdom

          North Sea: still attractive for some

          Difficult times have led heavyweight operators to review their North Sea portfolios, but there is no shortage of buyers for their assets, Martin Quinlan writes

          West of Shetland gas by 2014

          Canada

          China's oil sands push

          PetroChina has staked China's claim to Canada's oil sands, providing local developers with an export alternative to the US market, writes Derek Brower

          Natural gas

          The US natural gas glut

          A recent bounce in natural gas prices might prove short-lived. But the longer-term future for the US gas sector is bright, writes Derek Brower

          US CBM producers send mixed signals

          Permitting and drilling activity in US CBM plays is falling, but industry and government are investing for the future, writes Anne Feltus

          Credit crunch not over for gas

          Some gas companies are struggling to raise finance, others are using innovative means to secure investment, while the Chinese just carry on spending, writes NJ Watson

          Booming gas demand leaves Middle East short of supply options

          Without a shift in the region's gas-pricing regime, Middle East producers will struggle to keep up with consumption, writes James Gavin

          China set to become the world's third-largest market for natural gas

          Gas makes up around only 4% of China's energy mix, but successful exploration and pipeline infrastructure developments will lead to rapid consumption growth, writes John C Harris

          China puts a prop under LNG market

          Asian demand is supporting the LNG business despite low prices and the recession, reports Conal Walsh from Perth

          Signs of life in floating LNG

          Interest in floating gas-liquefaction terminals is growing, but obstacles to commercial deployment remain, writes Ian Lewis

          GTL investment hits the buffers

          Oryx is close to capacity and Shell's Pearl is on track to start up in early 2011, but new GTL investment decisions are unlikely until costs decline further, writes Alex Forbes

          The Report Card

          Price slump leaves Devon short of cash

          With US gas prices at seven-year lows and unlikely to rebound in the near future, Devon Energy faces a difficult few months, writes NJ Watson

          Focus

          Exploration and production

          United States: BP makes 'giant discovery' in Gulf of Mexico

          West Africa: Anadarko uncovers a new offshore oil province

          Iraq: IOCs move on second bid round

          Climate change

          Is there a Plan B?

          Natural gas

          Australia: Gorgon LNG under way at last

          Brazil: Gas surpluses mount

          Latin America: Falling Brazilian gas demand hits Bolivia

          Turkmenistan keeps Russia at bay

          Qatar limits LNG project delays and proves APX technology

          Pipelines

          Investment decision on Nabucco imminent

          Alternative energy

          Solar firms seek fresh pastures as Spanish construction bonanza ends

          Power

          Dubai: New energy bodies to manage supply security

          The Back Page

          Smartening-up electricity supply

          Google and GE are among those working on a new way of supplying electricity to homes and businesses – smart grids are hailed by some as a miracle cure for global warming, writes Conal Walsh

          News in brief

          Western Europe

          Eastern Europe and CIS

          Africa

          North America

          Latin America

          Middle East

          Asia and Australasia

          Oil and gas licensing rounds

          Markets

          Bears and bulls battle around $70/b

          WGC News

          Fernandez de Kirchner: gas sector vital for recovery

          President Cristina Fernández de Kirchner calls on the gas industry to focus on "the real economy, production and investment"

          Libya tightens control over energy sector

          A shake up at the top of Libya's oil and gas sector could spell a harsher climate for foreign investors

          IGU: gas the key to growing energy, climate needs

          The global gas industry is meeting in Buenos Aires to discuss its strategy to deal with climate change and expectations for rising consumption

          Credit crunch not over yet for gas industry

          Natural gas prices remain depressed as US storage volumes reach record highs, putting further pressure on cash-strapped producers

          YPF to step up exploration in Argentina

          Ghana chooses Nigeria's Oando for $1bn gas project

          Global oil and gas M&A deal count showing signs of life

          Khelil: European demand potential remains huge

          Gas will be more competitive than other energy sources says Algeria's Chakib Khelil

          Gazprom stays bullish despite demand slump

          Gazprom's export plans will not be de-railed by weakening demand

          GDF Suez to join Nord Stream but project still waiting for green light

          Nord Stream expects approval, as GDF plans to join the pipeline consortium

          Unconventional gas fuelling the future

          The huge potential of uncoventional gas will reshape the global gas industry

          Qatargas sees LNG supply tightening, but could boost output at "short notice"

          IEA: CO2 emissions falling, Copenhagen still crucial

          Global GHG emissions could fall by 3% this year, but $3 trillion still required to tackle climate change

          Ukraine: EU needs no new pipelines; no dispute with Gazprom expected

          Ukraine is a reliable gas-trasit state, more gas pipeline capacity to Europe is not needed, says Naftogaz

          Gas and oil prices to continue to diverge through 2010

          Oil and natural gas prices will continue to diverge next year and possibly beyond

          Mideast gas demand set to accelerate

          Dollar to make space for other currencies, eventually

          Don't underestimate the role of gas

          ExxonMobil wins race for Ghana oilfield stake

          Gazprom and Repsol in talks about Yamal LNG

          Iran says it will supply half Nabucco pipeline's capacity

          Gazprom sets its sights on US market

          Unconventional gas could add 60-250% to global reserves

          Total says Shtokman uneconomic at today's gas prices

          Signs of recovery, but costs won't fall much further

          Ease price restrictions to encourage spending, says Pluspetrol

          German regulation threatens pipeline bottlenecks

          Significant Colombian LNG exports on the horizon, says ANH's Zamora

          Iran looks to lift gas output by two-thirds over next five years

          US gas in storage near record levels

          World oil and gas production

          Non-Opec production dips


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