WEG Update

November 2007

Dear Reader,

This is the Windsor Energy Group’s latest update on major developments involving the global energy market. If you would like to learn more about this newsletter or forthcoming events, or perhaps would like to suggest an event or article for inclusion in the next edition, please do not hesitate to contact us.

Kind Regards,

Mr. Toby Osborne,

Editor

MEC International

Granville House

132 Sloane Street

London - SW1X9AX

Tel: 020 75914816

Fax: 020 75914801

Website: www.meconsult.co.uk

Email : projects@meconsult.co.uk

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Main Articles

China ’to be largest energy user’

China is set to become the world’s largest consumer of energy by about 2010, according to a study by the International Energy Agency (IEA).

BBC News 7th November 2007

Solar-power fever may not last: Japan’s Tokuyama

The world’s current fever for solar power may not be sustainable and could be a bubble, an executive at Japanese silicon maker Tokuyama Corp said on Monday.

Reuters 5th November 2007

NZ reserves accord with Japan

Japan and New Zealand on Monday signed an accord on oil reserves that could pave the way for New Zealand to buy options to buy oil from Japanese companies in case of emergency.

Upstream November 5th 2007

PetroChina debuts at number one

Shares in PetroChina nearly tripled in their mainland China market debut today, making it the world’s largest listed company by market capitalisation with a total market value of $1.1 trillion.

Upstream November 5th 2007

Big melt meets big empty: Rethinking the implications of climate change and peak oil

Environmental and development NGOs are now fixated on climate change to the exclusion of nearly every other topic. Discussions in and among these organizations center on capping carbon emissions and trading emissions rights, and doing this internationally in a way that will be deemed equitable by the global South and acceptable to the industrial Northern countries

Energy Bulletin 4th November 2007

African oil grab ‘fuelling corruption’

Strong economic growth and huge windfalls from high oil prices have fuelled corruption in sub-Saharan Africa and robbed countries of funds for development, researchers said at a World Bank Summit in South Africa today.

Upstream 2nd November 2007

Nanoscience big news in gas sector

In a wake-up call for the natural gas industry, Saeid Mokhatab and Brian Towler of the University of Wyoming warn this week that ignoring the potential of nanotechnology to revolutionise the business could be an "enormous missed opportunity".

Financial Times 2nd November 2007

US and EU urge Opec to boost output ahead of winter

Opec came under renewed pressure yesterday from the US and Europe to boost its production as prices surged to new highs amid falling crude oil inventories ahead of the winter peak season.

Financial Times 2nd November 2007

Saudis urge Iran to join Gulf plan for nuclear plant

Saudi Arabia is calling on Iran to respond to an Arab proposal for a joint uranium enrichment plant outside the Middle East, the first regional attempt to defuse Tehran’s nuclear crisis.

Financial Times 2nd November 2007

Supply fears puts oil at new high

Oil prices have rebounded, settling at a record closing high in New York, spurred on by investor fears that supplies could be threatened.

BBC News 2nd November 2007

Russia in Ukraine refinery spat

Russia says the armed seizure of a Ukrainian oil refinery in which it has a stake is a "flagrant outrage".

BBC News 2nd November 2007

Oil prices: The only way is up

Oil prices are set to top $100 as speculators continue to drive prices higher, say analysts and industry figures.

Energy Publisher 31st October 2007

U.S. and India have a chance for a win-win energy solution

On his trip to India this week, Treasury Secretary Henry Paulson will likely express U.S. frustration over the apparent collapse of the civilian nuclear deal between the two countries as well as concern about India’s desire to complete a large gas pipeline agreement with Iran. But Paulson should also emphasize the win-win economic opportunities between India and the United States. A good place to start would be helping India meet its huge energy needs in ways that aren’t as politically charged as nuclear reactors and Iranian gas.

Mercury News 30th October 2007

Politics, not shortage behind high oil price- Qatar

OPEC would be happy to raise crude oil output if needed but there was no sign yet of a supply shortage in world oil markets, despite record high prices, Qatar’s oil minister said on Monday.

Reuters 29th October 2007

British Energy hit by nuclear reactor faults

British Energy suffered another setback on Monday after it closed down two of its ageing nuclear reactors and delayed the restart of two more because of boiler problems, sending its shares down more than 8 per cent.

Financial Times 22nd October 2007

Nuclear Power Primed for Comeback

Two decades ago, after Duke Energy abandoned its partly built nuclear power reactors here, the site was sold and turned into a movie set. Director James Cameron used it to film "The Abyss," a 1989 movie about civilian divers who encounter aliens while trying to rescue a stricken nuclear submarine. Cameron filled the unused nuclear containment building with water and hauled a section of an oil rig, a tiny submarine and fiberglass rocks inside to make convincing underwater scenes.

Washington Post 8th October 2007

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Upcoming Events

WEG review Central Asian Gas Markets Study

The WEG study (Realising the Promise – Central Asian Gas Markets) will cover developments in the Central Asian countries, Russia, the Caucasus and Iran on the supply side as well as the surrounding markets and areas through which pipelines will pass.

A roundtable to discuss the study will be held in Almaty on 1 October, the eve of KIOGE.  It will be chaired by Lord Fraser, a former energy minister.  Leading energy executives, policy advisers, energy shipping and transportation executives, and representatives of interested governments and inter-government agencies, will be invited to join the review.  A subsequent diplomatic briefing, hosted by the Ambassador of Kazakhstan, will be held in London and Houston.

Central Asian Gas Markets Study

C5: Financing Renewable Energy Forum

C5’s Financing Renewable Energy Forum returns on 29th & 30th November, this time to the fantastic 5* Bayerischer Hof Hotel in Munich.

This conference will put you side-by-side with the leading developers, consultants, lawyers, bankers and other investors in the market today , and, unlike other Renewable Energy Finance events, there is a genuine opportunity to build close business relationships.

Financing Renewable Energy Forum

TIOGE 2007

The conference is officially supported by the Ministry of Oil & Gas of Turkmenistan, 50 high level speakers will make presentations across the 2 days and in excess of 500 delegates are expected to participate in the conference and its associated networking functions including business breakfasts, coffee breaks, lunches, cocktail parties and a gala dinner. The conference will take place on the 14th and 15th of November in Ashgabat.

TIOGE 2007

MEC International

Granville House

132 Sloane Street

London - SW1X9AX

Tel: 020 75914816

Fax: 020 75914801

Website: www.meconsult.co.uk

Email : info@meconsult.co.uk