_Economy and Finance

2013 Outlook Commodities Review European Gas and LNG Thierry Bros Key points ■ On 8 October, the second 27.5 bcm/y Nord Stream line was launched, bringing the facility’s total capacity to 55 bcm/y (the first line was opened in November 2011). The pipeline is designed to bring greater stability to the supply of Russian gas to Europe by reducing dependence on transit countries, with which Russia has repeatedly faced serious issues over gas prices.

2013 Outlook Commodities Review US Natural Gas Laurent Key Key points ■ The US natural gas forward curve is, in our opinion, well priced for the start of the winter but too expensive from March to the rest of 2013. Cal 13 price forecast is $3.52/MMbtu, 40 cents below the current curve.

2013 Outlook Commodities Review Oil Michael Wittner Key points ■ The outlook for oil market fundamentals is neutral through 2013. With another year of sluggish economic growth expected, global demand growth is forecast at 0.8 Mb/d next year, driven by emerging markets east of Suez.

http://wiki.fool.com/ How to Calculate Net Revenue Interest for Oil & Gas Original post by D. Laverne O'Neal of Demand Media Net revenue interest is defined as a share of oil or gas production that is calculated after deducting any burdens from the working interest. For example, an oil well typically has a mineral rights owner and an overriding royalty owner. These owners receive a flat percentage "off the top," so to speak, of the well proceeds. The remaining owners are known as working interest owners. Each owns a working interest percentage of the well proceeds. Each must calculate her net revenue interest in production.

http://www.spe.org/ Download the New Reserves Classification Guide 2 November 2011 in Americas,Asia-Pacific,Canada,Europe and Sub-Saharan Africa,Europe, Russia and West Africa,Latin America and Caribbean,Middle East, North Africa and India,Regions,Russia and Caspian,SPE News,Technical,United States

http://www.redorbit.com/ Russian Oil Companies to Use New Reserve Classification From 2009 – Trutnev July 11, 2008 ARKHANGELSK. July 11 (Interfax) – Russian oil companies will move to a new oil reserve classification beginning in 2009, Natural Resources Minister Yury Trutnev said.

From http://www.novatek.ru/eng/news_center/clas/ Russian Classification of Reserves The estimation of reserves of natural gas, gas condensate and crude oil can be broken down into two components: (i) geological reserves, or the quantities of natural gas, gas condensate and crude oil contained in the subsoil and (ii) extractable reserves, or the portion of geological reserves whose extraction from the subsoil as of the date the reserves are calculated is economically efficient given market conditions and rational use of modern extraction equipment and technologies and taking into account compliance with the requirements of subsoil and environmental protection.