Myanmar’s continuing reform drive has attracted the interest of investors around the world, but the question remains whether or not we are witnessing a true opening up of one of the world’s most secluded states. Rahul Ghosh, Head of Asia Research, discusses with Andrew Wood, Asia Country Risk Analyst, and Daniel Gan, Infrastructure analyst, the… [Read more]
Norwegian national oil company (NOC), Statoil, is eying UK North Sea assets in an attempt to replicate a number of groundbreaking Norwegian Continental Shelf (NCS) discoveries made in 2011. Statoil’s exploration chief, Tim Dodson, told Reuters that the company was considering bidding for new blocks, or could potentially ‘farm-in’ to an existing concession. Statoil is… [Read more]
Recently, there has been considerable speculation that the US can achieve energy independence over the coming years as a result of the development of unconventional domestic oil and gas resources. Some proponents of US energy independence argue that Washington would no longer need to involve itself in the affairs of the Middle East, or to… [Read more]
Our bullish oil view has played out, with Brent crude briefly hitting highs above US$128/bbl on reports of an explosion on a Saudi pipeline (which was subsequently refuted, pushing Brent back down slightly). The CRB Index is our means of playing a broad improvement in the commodities complex, including oil, and our key market view… [Read more]
Over the last two years, oil and gas exploration in East Africa has gathered pace as high oil global prices have spurred ‘frontier’ exploration. In particular, a number of large gas discoveries have been made in the Rovuma Basin, off the shore of Mozambique and Tanzania. Licence operators have now proved-up between 1.5trn and 1.9trn… [Read more]
We don’t wish to speak too soon, but the technicals suggest that oil prices could be headed back to their 2008 record highs. It was at that time, in June-July 2008, that we said that the risk to the global economy was flipping quickly from inflation to deflation, which of course played out spectacularly. The… [Read more]
Front-month Brent Crude was testing key resistance at US$120/bbl on the morning of February 17, buoyed by rumours that Iran was set to cut off oil supplies to Europe, and with a resolution to the Greece crisis inching toward fruition. The key upside level for Brent is US$127.02/bbl, which represents the April 2011 high. A… [Read more]
