Despite four years of high oil prices, this report sees increasing market tightness beyond 2010, with OPEC spare capacity declining to minimal levels by 2012. A stronger demand outlook, together with project slippage and geopolitical problems has led to downward revisions of OPEC spare capacity...

The Central Asian/Transcaucasian region has the potential to become a significant producer and exporter of oil and gas. Estimates of its reserve base are on the scale of the North Sea. Over the next decade, as world oil demand continues to grow, the region will gain in importance by helping to...