One of the biggest risks to the global economy at present is the possibility that Iran could close the Strait of Hormuz, in line with its recent threats. Around 20% of the world’s oil trade and 28% of liquefied natural gas (LNG) exports pass through the waterway, and any disruption to this would cause oil… [Read more]

China’s 12th Five Year Plan announced this month contains few surprises. The bulk of the targets for the 2011-2015 period set out for different industries have already been leaked over previous months. If anything, the government’s economic strategy as laid out in the new plan justifies Business Monitor International’s expectation that there will be an… [Read more]

Several developments in 2010 will linger well into 2011. My colleagues and BMI’s Oil and Gas Team see industry majors continuing their push into deepwater drilling and unconventional hydrocarbons, while cash-rich national oil companies keep looking for upstream opportunities. Depressed US gas prices are unlikely to move significantly in 2011, while Asia-Pacific remains the LNG… [Read more]

After eight months of protracted negotiations, Iraq finally appears within reach of forming a new government. Incumbent Prime Minister Nouri al-Maliki’s dogged efforts to retain the premiership have succeeded. His State of Law alliance won 89 seats in Iraq’s March 2010 parliamentary elections, and his premiership prospects were boosted by last-minute support secured from conservative… [Read more]

In 2008 a nuclear renaissance in Europe and North America was heralded for a variety of reasons: A combination of high oil and gas prices meant nuclear was cost competitive The need to expand electricity generating capacity as Communist-era power plants in Eastern Europe and heavy polluting plants in Western Europe were due to shut… [Read more]

Shale gas is the topic du jour right now in the energy industry. In the US, soaring production from shale, thanks to advances in hydraulic fracturing and horizontal drilling technology, has turned the gas market on its head. While just a few years ago, the US was planning for rising gas imports, now LNG (liquefied… [Read more]

One area of significant interest in the US energy market over the past eighteen months has been hydrocarbons extracted from shale. Strong industry interest in shale-derived gas may yet reverse the medium-term decline in US natural gas production. Shale deposits are widespread across the US, but concentrated in states such as Texas, Arkansas, Oklahoma, Pennsylvania… [Read more]