Daily Archives: March 8, 2011

Sheila McNulty

Sara Akbar, chief executive of Kuwait Energy, an independent oil and gas company focused on the region, brought to the IHS Cambridge Energy Research Associates’ annual energy conference in Houston what she called a “view from the street” on the North Africa/Middle East tensions.
Akbar said that although the region was made up of disparate countries, they had enough similarities that one spark had set off change throughout. Even in Kuwait – which she noted had a very stable political system – there were calls for change. Read more

As the struggle continues in Libya, what effect is it having on the oil market? Plus: can gas from Azerbaijan’s Shah Deniz field challenge the dependency on Russian supplies? Read more

With Brent oil around 115$ per barrel and expected to rise further in the light of the unrest in the Middle East, it is worth considering who will be squeezed hardest among the countries of the emerging world.

China and India are the two largest net oil importers in emerging markets. But both are big consumers of coal and rely less on oil than some of their rivals. Chile and Thailand depend far more on imported oil. As the chart below the fold shows, the level of oil dependency is relates to the energy mix which varies a lot between countries. As in so many sectors, policy matters.

oil dependency chart

The chart illustrates energy supply by fuel for key countries and regions. Latin America is relies more on oil than any region after the Middle East. About half of its total energy consumption comes from oil and the remaining half is largely composed of gas.

 Read more

Could Saudi Arabia be telling porkies when it comes to its spare capacity capabilities? It’s something Goldman Sachs analysts are wondering on Tuesday. Read more

Influential members of Opec, the oil cartel, are joining Saudi Arabia in raising output to cool soaring prices and allay fears of a supply crunch in the west. Read more