Analysis  |  16 April 2015

Norway at a turning point

Exactly fifty years after the beginning of its impressive offshore adventure, Norway is facing significant changes. 2015 is set to bring a drop in offshore investments by 20 percent and a further ten percent in 2016. An almost stable production level is predicted at least for the coming five years. A loss of 10,000 to 15,000 jobs is expected. A drastic fall in revenue for the companies active on the Norwegian continental shelf (NCS) and an equally heavy fall in tax income for the Norwegian state is unavoidable. These are the parameters Norway is currently looking at. The country with just 5.2 million inhabitants became, according to some criteria, the richest country in the world, but has now reached a turning point. However, as a representative of a foreign oil company put it, “There is no reason to be pessimistic.”

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Report  |  16 April 2015

Renewable Energy Perspectives of oil exporter Azerbaijan

By Vasif Safarov

The EU Strategy for the South Caucasus is a long term strategy directed towards creating a secure political, economic and social environment on the eastern borders of EU. Azerbaijan (officially Azerbaijan Republic) is the largest and most populous country in this region and is rich in hydrocarbon resources and plays an important role in supplying the EU with oil and natural gas. But the country is not only rich in fossil fuels, there are also great opportunities to develop a renewable energy sector.

Analysis  |  16 April 2015

Plunging oil prices – US Tight Oil Boom or the Burst?

By Dr. Salman Ghouri and Dr. Amjad Ansari

The global shale oil and gas industry is still in its infancy (in the learning curve) but the United States industry is far ahead and has shown inspiring results as their shale/tight oil production increased from 1.24 million barrels daily (MMBD) in 2007 to 4.68 MMBD in 2014 – which represents approximately a 3-3/4 fold increase [note 1].

Report  |  16 April 2015

Security of power supply in Poland

By Wladyslaw Mielczarski

On Tuesday, (14.04.2015), the Highest Audit Chamber (Najwyzsza Izba Kontroli - NIK) in Poland published a report on the security of power supply. The audit took place between May and October 2014 and was carried out with the assistance of supporting experts. Two of the most importing findings of the NIK relate to the lack of a general incentive system for investments in new generating capacities. This system should be based on the market rules and applied to all entities operating in an electricity market independently of their ownership.

Analysis  |  7 April 2015

Has Greece Been Dealt a Hand of Pocket Rockets or the Hammer?

By Christos Brakoulias

Greece’s new government has been hinting at pocket rockets or double aces, the best Hold'em poker hand you can hope to have, amid the on-going negotiations over reforms demanded in return for aid from its creditors for some time now. Nevertheless, the Greek government has yet to provide significant indications other than its tiresome rhetoric.

Analysis  |  2 April 2015

Electricity In Russia’s Relations With Its Neighbours: Source Of Integration, Influence And Income

By Irina Mironova

One characteristic feature of the past year in Russia-EU relations is ever-complicating relations, which have direct impact on bilateral energy relations. A rather long-lasting story of European dependence on Russian gas; persistent discussions about the reliability of Russian gas supplies [note 1]; ongoing crisis in Ukraine and enhancing security of transit concerns [note 2], a range of sanctions against Russia in relation to the Ukraine crisis [note 3] – a list long enough to think of self-dependence policy rather than integration projects.

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