Petroleum Economist July 2007 Issue

Leader

Time is not on our side

Analysis

Libya

BP's back

BP IS BACK in Libya, 33 years after its Sarir concession was nationalised by the then-Colonel Muammar Qadhafi – and in a big way. At the end of May the firm signed an agreement described by its new chief executive, Tony Hayward, as "BP's single biggest exploration commitment", Martin Quinlan writes.
Russia

Going, going ... gone

TNK-BP's hopes of retaining its licence for the Kovykta gasfield in eastern Siberia are over. The Russian major has been forced to sell, but has cut a deal and will form a strategic alliance with Gazprom that could lead to new opportunities in Russia and overseas, Derek Brower and Tom Nicholls write
Kazakhstan

New kid on the block

KazMunaiGaz Exploration and Production is not just the upstream arm of the national oil and gas company. It is the new gatekeeper to the country's onshore resources. Derek Brower reports from Kazakhstan
Latin America: Brazil

A positive picture

With a budget of $25.7bn this year, Petrobras is outspending most of the world's supermajors, writes Robert Cauclanis
Sub-salt gains new converts

Petrobras continues to produce exciting results from exploration beneath the thick layers of salt under established offshore heavy-oil plays. IOCs are hoping to follow suit. Robert Cauclanis reports
Latin America: Colombia

A dependable destination

Growing foreign investment in the oil industry – partly thanks to resource nationalism elsewhere – means Colombia will not become a net oil importer for at least seven years, writes Tom Nicholls
Latin America: Peru

Camisea receives a boost

The success of Peru's plans to develop the country's gas industry depends on investment, but more importantly on the support of indigenous tribes in the Amazon region, writes NJ Watson
Chemicals

New axis drives the business

The new axis linking Chinese demand with Mideast output has brought the worldwide chemicals sector to a business peak. Some forecast that it will also bring the next industry downturn, Martin Quinlan writes
Strong chemicals profits

EU producers hope for demand surge

It remains uncertain how – and if – Europe will meet its biofuels targets, writes Ian Lewis
Middle East

Gas plans shifting up a gear

Qatar has set a high benchmark for gas development in the Middle East. Having neglected gas for years, other countries in the region are determined to catch up, writes James Gavin
Drilling technology

Advancing under pressure

With most easy-to-access hydrocarbons discovered, energy firms are looking to formations in ultra-deep, HP/HT environments. But exploiting these reserves will not be easy, or cheap, writes Anne Feltus
Gas to liquids

Reality check

After the heady optimism of 2006, the first half of this year has been a reality check for the nascent GTL industry, writes Alex Forbes
GTL with a difference

If you can't flare it, reinject it or pipe it somewhere else, what do you do with associated gas? Petrobras thinks CompactGTL, a UK firm, may have a solution. Tom Nicholls writes
Focus

World energy statistics

CO2 dominates BP energy review

Markets

IEA sees oil prices heading north

Corporate

Companies spend big on E&P

E&P companies likely to drive further M&A

Abu Dhabi takes a foothold in Western Canada

Energy policy

UK: The future is nuclear

Power

Russia: Enel buys power plant

Legal

See you in court

Environment

United States: Cars to get cleaner

European Union: Green gas and green credits

Refining and marketing

Czech Republic: Eni and PKN eye Shell's stake in refiner

Romania: Petrom keeps refinery running

The Back Page

The Battle of Alberta

Edmonton and Calgary have always been rivals. But Alberta's boom is pitting them in a new battle for the title of Canada's oil capital. Or does the province have room for two world-class oil towns, asks Derek Brower?
News in brief

News in brief

Markets

US stocks data halt oil's rise ... for now

World oil and gas production

Output down on seasonal outages and lower Opec supply