Iraqi oil production outperformed expectations in 2015, after numerous years of disappointing growth. Iraqi production, including output from the semi-autonomous Kurdish region, rose by 0.62 mb/d to above 3.9 mb/d in 2015, the fastest growth since 2004 when Iraq’s oil sector was recovering after the US invasion. The growth was even more impressive at points […]
In 2015, oil demand growth, which surprised on the upside, was responsible for most of the adjustment in the oil market imbalance. In 2016, oil demand growth started slowing down and the baton of adjustment passed to non-OPEC supply, particularly US shale, which has declined sharply in recent months. So far, the OPEC cut feedback […]
Argentina clearly has a world-class shale gas resource and its ‘crown jewel’ is the Vaca Muerta play. How such a resource might be developed and linked to global gas trade flows in terms, for example, of reducing Argentina’s LNG import requirements is a complex multi-vector issue. This paper by Ieda Gomes and Roberto Brandt provides […]
Authors of the new OIES publication ‘LNG Markets in Transition: The Great Reconfiguration‘, share insights and conclusions from the book at a recent launch event hosted by CSIS in Washington, DC.
As much of the world pushes ahead with the deployment of renewable energy, resource-rich MENA economies are lagging behind. For the region to catch up, new policies are required to remove barriers of entry to the industry and create investment incentives. This paper contends that while the main obstacles to deployment of renewables are grid […]
This paper brings together findings from previous OIES research on European gas hub price correlation by Beatrice Petrovich with demonstrated capability in European gas transmission system modelling by Harald Heckling and Florian Weiser at EWI Energy Research and Scenarios at the EWI Institute in Cologne. The paper compares the evidence for periodic bottlenecks in Europe’s […]
The LNG market has seen dramatic shifts in its underlying fundamentals since the mid 2000s. The roller-coaster of pricing, the rise of LNG spot and short term trading and the emergence of the US as a source of ‘destination flexible’ supply are just some of the many dimensions of the industry which appear in a […]
This paper is one of the first attempts to delineate the contours of emerging GCC–East Asia relations in the fields of nuclear and renewable energy. On one hand, the GCC countries have been seeking technology from across the world to develop the foundation of their nuclear and renewable energy industries. East Asian countries, on the other […]
Lithuania is one of Europe’s smallest national gas markets until recently reliant, in common with Latvia and Estonia, on imported Russian pipeline gas for all its natural gas requirements. After its accession to the EU in 2004, Lithuania became directly impacted by the developing body of energy market regulation, most notably the Third Package of […]
Analysis of oil price shocks using fundamental measures has for years puzzled researchers. Recent theoretical and empirical work has made considerable improvements on how to model the global oil market. Yet, many studies document a decrease in the explanatory ability of the supply side of the market, as there appears little evidence that oil supply […]
This paper addresses the expanding energy cooperation between Russia and China in the context of the political and commercial relationship between the two countries. It assesses progress during the post-Soviet era, but focuses especially on the past two years since sanctions were imposed on Russia by the US and the EU. It attempts to analyse […]
Structural reforms outlined in Vision 2030 are much needed to shift the economy to a more sustainable path and even if only a small part of Vision 2030 is being implemented, the Saudi economy will look very different in 2030 than it does now. The key question is whether these changes will have a substantial […]
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This year's 'oil day' seminar will be held in Oxford on 25 November.
The aim of our 'oil day' is to bring together small groups of key senior figures from governments, oil companies, refineries, the financial industry, and academia to discuss important and topical issues affecting global oil markets. Attendance is by invitation only and the events are closed to the press.
'... a must-read for scholars of the EU or anyone interested in energy as a source of conflict or cooperation'… https://t.co/0QykN2hnU6
Jonathan Stern, 'Mediterranean gas investors run the risk their assets could be stranded by political disagreements' https://t.co/D8RnwdqN1b
‘Year-on-year growth in Iraqi output has slowed considerably in recent months’-new OIES study on Iraqi oil output.… https://t.co/ZGpQ3k5llG