The oil sectors in the North African countries of Algeria, Libya, Egypt and Sudan have witnessed major transformations in the past decade or so. In Algeria, government reforms in the mid 1980s resulted in the entry of a wide range foreign oil companies to an oil sector previously dominated by...

The main purpose of this report is to analyse the main features of the current crude oil pricing system; to describe the structure of the main benchmarks currently used namely Brent West Texas Intermediate (WTI) and Dubai-Oman; to clearly identify the various financial layers that have emerged...

While higher fuel specifications and regulatory changes in the bunkers market are most likely to have a big impact on long-term fuel oil demand, a structural shift of a similar magnitude on the supply side is already taking place, particularly in Russia, the largest exporter of fuel oil. The...