Opec

The fate of proposals to reform the Mexican oil and gas industry, now being considered by the country’s lawmakers, matters well beyond Mexico itself. The outcome could reshape the energy sector in a number of important countries. Read more

The Brent oil price fell by more than six dollars last week and at $ 104 is now 20 per cent below its recent peak in the spring of 2012. No particular events have triggered the fall. There has been no deal with Iran which would end sanctions. Economic activity levels are hardly exciting but they haven’t suddenly collapsed. Uncertainties around North Korea might normally have been expected to push prices up. Read more

The World Economic forum is getting underway in Davos, Switzerland. Getty Images

Fashions come and go and the agenda for the annual meeting of the World Economic Forum in Davos is usually a pretty good guide as to whether skirts are long or short this year. This year’s title for the meeting is “Resilient Dynamism”, which is very cool. But the issues that have slipped down the agenda are energy security and climate change.

There are a few odd sessions, but the focus has shifted and apart from one brief reference to natural resources, neither energy nor climate are mentioned on the web page setting out this year’s themes. This is a very big change from only four or five years ago, when both were prominent topics at every meeting. Read more

The new paper from the Belfer Center at Harvard on the prospect of sharply rising oil production over the next decade is a substantial and interesting piece of work.   The headlines, however, oversell the content.  America isn’t about to be self-sufficient in oil or to start exporting a surplus.  Around the world there is indeed plenty of oil but politics are likely to keep production well below the physical potential.

The report “Oil: The Next Revolution” by Leonardo Maugeri, is based on a detailed field by field analysis of the world’s oil resources. Read more