Energy Comments Publications

The results of OIES research is published as working papers, energy comments, presentations and articles as well as commercially published books and monographs. The views expressed in all OIES publications are those of the authors and do not necessarily represent the views of the Oxford Institute for Energy Studies or any of its Members.

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  • Saudi Arabia: Shifting the Goal Posts

    By: Bassam Fattouh

    While the market has been focused on short-term issues such as OPEC’s success in rebalancing the market in 2018; its exit strategy after the expiry of the deal; and the risk that the market over-tightens, OPEC and its dominant player Saudi Arabia have been keen to shift the market focus towards the longer term. The […]

  • Disruptive Change in the Transport Sector – Eight Key Takeaways

    By: OIES

    The Oxford Institute for Energy Studies held a Work​shop – the first of a series – on ‘Disruptive Change in the Transport Sector’ in relation to its impact on energy use in private transport. Participants included experts from the energy, auto, mobility, and technology sectors. This document summarises eight key takeaways from the Workshop discussions: Despite many government announcements […]

  • Reflection on the Baumgarten Gas Explosion: Markets are Working

    By: Thierry Bros

    On the morning of 12 December (9:00 CET), an explosion at the major European gas hub at Baumgarten in Austria forced the operator to close the gas facility. Italian gas prices surged as a result to 80€/MWh or 27$/MMBtu and Italy declared a state of emergency regarding energy supplies. Flows restarted later the same evening […]

  • OPEC’s Hard Choices

    By: Bassam Fattouh

    Oil market sentiment has shifted considerably over the last few weeks. Brent is trading above $60 per barrel, the major benchmarks are in backwardation, stocks have been falling towards the five-year average, global oil demand remains strong, financial positioning is at record length, OPEC and non-OPEC compliance has been high, the additional Nigerian and Libyan […]

  • US Crude Exports – Gaining Ground

    By: Dominic Haywood

    US crude oil exports surged to a record high of 1.8 mb/d in October 2017, 1.2 mb/d higher y/y. A few months earlier, the market had fervently questioned the ability of the US to export more than 1.2 mb/d, suggesting capacity constraints would cap departures at this level and result in large inventory builds on […]

  • The political economy of energy subsidies in Egypt and Tunisia: the untold story

    By: Ferdinand Eibl

    Energy subsidies have been described as socially inequitable and fiscally draining for economies in the Middle East and North Africa (MENA). This is particularly true for resource-scarce, labour-abundant economies such as Tunisia and Egypt who cannot rely on ample resource rents to finance energy subsidies. Despite these shortcomings, governments have struggled to reform subsidies and […]

  • The Significance of the US Withdrawal from the Paris Agreement on Climate Change

    By: David Robinson

    This comment discusses the significance of the US Withdrawal from the Paris Agreement on Climate Change. Although it is too early to predict the long-term implications for climate change of the US decision to withdraw from the Paris Agreement, it is argued that the decision is unlikely to have a major negative impact on the […]

  • The Decarbonised Electricity System of the Future: The ‘Two Market’ Approach

    By: Malcolm Keay , David Robinson

    Electricity markets are broken; they no longer fulfil their primary functions of providing appropriate signals for producers and consumers.  The problem arises from a combination of changes in technology (from predominantly marginal cost plants to predominantly capital cost plants) and of policy (support for intermittent renewable plants) which undermine traditional market structures.  In the view […]

  • Qatar LNG: New trading patterns but no cause for alarm

    By: Howard Rogers

    As described in a recent Comment (‘Feud Between Brothers: the GCC rift and implications for oil and gas markets’), the severing of diplomatic ties with Qatar by Saudi Arabia, the UAE, Bahrain and Egypt, amid accusations of supporting extremism have prompted many to ponder the impact on oil and gas markets. This Comment examines the […]

  • EU ETS: fasten your seat belts

    By: Thierry Bros

    This third OIES Brexit publication looks at the European-wide EU emissions trading system (EU ETS) issues. We argue that the many burdensome patches to be implemented, together with those that are already agreed or discussed, are as nothing compared to the Brexit unknowns if there is no united political will.

  • Feud Between Brothers: the GCC rift and implications for oil and gas markets

    By: Bassam Fattouh , Bill Farren-Price

    Earlier this week, Saudi Arabia, the UAE, Bahrain and Egypt cut diplomatic and economic ties with Qatar, accusing Qatar of supporting extremism. The measures are of unprecedented severity in modern GCC diplomacy with adverse consequences for Qatar, not least for its reputation as a business and international and regional transit hub and as host for […]

  • UK Storage encounters a Rough patch

    By: Chris N Le Fevre

    On April 12 Centrica Storage announced the suspension of injections at the Rough gas storage facility until at least May 2018. Whilst the market had to some extent been pre-warned of the problems the relatively muted response was, nevertheless, surprising. Does this reaction signal a declining role for long range storage or is the market […]

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