Petroleum Review - February 2010
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Editorial – Much food for thought at IP Week 2010
ENERGY INSTITUTE – OVERVIEW
New year and a new directionLast year saw the UK in recession, with small but positive signs of optimism about the near-term future economic outlook. However, most predict that 2010 will remain tough operating year for many sectors of the economy and, whilst the lights must stay on, this is likely to be reflected in energy companies continuing to be challenged throughout. Concern will still loom large about the degree of investment needed in the energy system to make essential transitions to a more sustainable future, writes Louise Kingham FEI, Chief Executive, Energy Institute.
ENERGY INSTITUTE – TECHNICAL
EI technical programme – working for the industry
Those who have read the summary of the recently revised Energy Institute (EI) strategy for 2010–2015 (see p13), will know that the EI is a learned society, which exists to develop and disseminate knowledge, skills and good practice towards a safer and more secure energy system. A number of key aims lie at the core of this strategy – gaining and developing energy knowledge; disseminating energy knowledge and developing understanding; raising standards and improving learning; and recognising the energy practitioner. The EI’s technical programme plays a central role in achieving these key aims. Martin Maeso, EI Technical Director, explains how the technical programme is defined and operated, and how the central objectives for the programme underpin the future strategy of the EI.
MIDDLE EAST – ROUND-UP
A middle year in the Middle East
The Middle East is entering 2010 with a relative sense of comfort – with crude prices being at a convenient level for most countries to post sizeable budget surpluses and the budgetary fears of 2008 and 2009 being relegated to memory. Samuel Ciszuk, Middle East and North African Energy Analyst, IHS Global Insight, writes.
IRAQ – KIDNAP & RANSOM
Drill, but beware of the risks
Iraq’s audacious plans to out-produce Saudi Arabia and Russia are already leading to a rapid rise in criminality in the oilfields, which in other oil producers has been the key driver behind kidnap for ransom and attacks on infrastructure. Nigel Bance reports.
LUBRICANTS – ENGINE OIL
Understanding engine oil
When you take your car in to have it serviced, would you know what lubricating oil should be used in its engine, or do you care? Rod Parker, Editor of LUBE Magazine and UK Lubricants Association (UKLA) Executive Director, explains.
MIDDLE EAST – ROUND-UP
MENA – oil and gas production trends and insights to 2014
With two thirds of global oil reserves and an estimated 45% of the world’s natural gas reserves, the Middle East & North Africa (MENA) region is rightly regarded as the world’s most influential oil and gas province as Rod Westwood (pictured), Senior Analyst, Douglas-Westwood, reviews.
Features
E&P – NON-CONVENTIONALS
Non-conventional oil: can it fill the gap?
The oil crisis is not dead – only sleeping – according to a gathering consensus, writes David Strahan.
E&P – IOCS AND NOCS
Shift in power to NOCs
Johan Nell, Global Upstream Lead, Accenture, investigates the changing relationship between international oil companies (IOCs) and national oil companies (NOCs).
OIL AND GAS – FINANCE
Debt financing in the midstream oil and gas market
The global recession and market downturn has had a dramatic effect on the mid and downstream oil and gas markets, including refineries, oil terminals, pipelines and LNG. Participants in these sectors have had to re-examine every aspect of how they operate and fund themselves. With respect to the outlook for bank financing in the midstream sector, Bora Bariman, Associate Director, UK Oil & Gas, Lloyds Banking Group, examines sector dynamics, developments in the debt financing environment and repercussions for financial structures over the next few years.
IP WEEK – PREVIEW
It's that time of year again
IP Week 2010 is just around the corner. With only a couple of weeks to go, what can delegates expect from this year’s conference? Petroleum Review has a look at what’s on offer for this year.
WORLD – CARBON MARKET
Crunching credit and climate
Flawed assumptions underlying the carbon trade are no different from those of the Enron and sub-prime crises. Maria Kielmas writes in this thought provoking article.
CLIMATE CHANGE – COPENHAGEN
Copenhagen ends, but many questions still remain
The Copenhagen conference in December achieved very little in terms of legally-binding emission reduction targets. So, what are the implications for the oil and gas industry? Keith Nuthall, Emma Jackson and Eric Lyman report for Petroleum Review.
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