Features / In Review
American-Chinese struggle over Africa
In the context of continuous struggle to dominate the world's economies and be labeled as the unbreakable mega power, the U.S. and China are keeping close eye on the African continent, the land of yet-to-find black gold. Doubts and certainties of reserves dilemma
Oil reserves are defined as the quantities of crude oil estimated to be commercially recoverable by application of development projects to known accumulations from a given date forward under defined conditions. Reserves are further categorized by the level of certainty associated with the estimates. This is contrasted with contingent resources, which are those quantities of petroleum estimated, as of a given date, to be potentially recoverable from known accumulations, but the applied projects are not yet considered mature enough for commercial development because of one or more contingencies When prices wobble subsidies’ balance
Petroleum product subsidies have again started to rise with the slow recover of international prices. This note reviews recent developments in terms of subsidy levels and argues that it is necessary to reform the policy framework for setting petroleum product prices in order to reduce the fiscal burden of these subsidies and to address the market change Legal safeguards in Egypt’s petroleum concession agreements
The Petroleum Industry is one of the most dynamic and flourishing industries in Egypt and petroleum production is by far the largest single industrial activity, representing eight to ten percent of Egypt's GDP. The Egyptian Government is encouraging the International Oil Companies (IOC) to participate in the activity of exploration and exploiting oil and natural gas. Actually, more than 50 international companies are operating in Egypt. Hence, rules and regulations are crucial to control the foreign operations in the country Into the Global Jackup Market
Over the last quarter of 2010, the drilling offshore makers enjoyed a status of stability in the jackup market. The last eight months, the global jackup utilization counted for 80% since the beginning of 2010. However, the supply-side of the equation has grown with 13 jackups delivered and 11 additions are still expected before year-end. In aggregate there are 366 jackups currently marketed around the world, out of which 290 are working Why does Russia support Iran sanctions?
Gazprom, the largest natural gas company in the world and the mainstay of the Russian economy, is in deep crisis. By Gazprom’s own estimates, it will not be able to reach the pre-crisis level until 2013. Based on a conditional assessment, for Gazprom to climb back to its former position, it needs to make sure that there is no alternate route for gas supplies to Europe. This, in essence, is the reason why Russia supported the United Nations Security Council sanctions on Iran U.S Natural gas shale amazes the world
Gas shale has become an important source of natural gas in the United States over the past decade, and interest has spread to potential gas shale in Canada, Europe, Asia, and Australia. One analyst expects gas shale to supply as much as half the natural gas production in North America by 2020 Will the British giant collapse?
Last July, the U.S. House of Representatives voted to end the federal moratorium on deepwater drilling for oil companies, imposing new federal safety requirements. The proposal to end the moratorium was an amendment to a pending energy bill. The moratorium will not end unless the Senate also votes to terminate it and President Barack Obama signs the legislation into law. The fate of the proposal in the Senate is uncertain. The Obama administration imposed the six-month moratorium on exploratory drilling in waters more than 500 feet deep in response to the BP oil spill. The moratorium runs through the end of November 
