At a time when gas supply is tight and cold weather had been forecast for this winter period some would say that Gazprom’s timing to have a dispute with Ukraine, the main highway for transporting gas into Europe, was not looking to anyone’s best interests except their own. Whilst it is true that the message from Russia to its former states is a very clear one, the damage done to their credibility is also very clear.

Read the rest of this article

mWELCOME

Welcome to the February issue of MZINE. This month we will be looking at the Russian - Ukraine gas dispute and how that affects both the UK and Europe see MSTORY for our main article. MPRICES  looks at the spot Oil Forward Curve, whilst at MPHASIS  Derek has discovered a Siberian winter! Don't forget to check out our thought of the month at MPATHY.

Our latest list of training courses can be found at MTRAIN, please note that on 2nd  March we have the UK Gas Markets course in Aberdeen and then on 8th/9th March the UK Gas Markets course has the Network Code course following it at Oxford UK as well as another opportunity to get a good understanding of the Emissions Trading Scheme on the 22nd March.

Please feel free to contact me about this newsletter and let me have your thoughts, what you like and don't like, I am open to your suggestions.

And if you have enjoyed reading this newsletter and think you know someone who might also enjoy it then feel free to forward it on.

Kind regards.

Paul Cassar
Editor

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mTRAIN

All of our training courses can now earn, participating solicitors, CPD points from the law society. Attendance at any of our events may also contribute to meeting accountancy CPD requirements under the terms of the ICAEW’s CPD policy. Please visit www.icaew.co.uk/cpd for the ICAEW's CPD policy details.

Over the next few months the following one-day events are being held in Oxford, UK and London, UK. 

More information about these courses can be found by clicking on the course title or visiting energytrainingnetwork.com and clicking on public courses. Alternatively you can contact me by email or phone +44 (0) 1235 553917, fax +44 (0) 1235 553917.

Any of our public courses can be held at your location, for your company, or they can be tailor made to your requirements. If you want to find out more contact our Training Manager Nick White nick@mjmenergy.com +44(0) 1235 211161.

OTHER DATES

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mPRICES
Forward Oil Curve

THE FORWARD CURVE  

Tighter fundamentals and threats to oil exports from both Iran and Nigeria are pushing oil prices back up again. Nearby months remain in contango – with prompt prices below forward – encouraging refiners to build crude stocks. However, longer-term prices are up sharply in response to growing unrest in Nigeria and the dispute regarding Iran ’s nuclear research – both of which have the potential to cause major interruptions to oil supplies.

Longer-term prices for Calendar 2007 WTI are back over $68/bbl as the market reacted to renewed uncertainty over upstream supplies combined with bullish expectations for the global economy and oil demand growth. OPEC’s margin of spare capacity remains too small to compensate for lost exports from either Iran or Nigeria . The balance of Calendar 2006 WTI is over $68/bbl – equivalent to $67/bbl for Brent or around $61/bbl for the new OPEC basket of crudes.

CGES Monthly Oil Report, 19 January 2006  www.cges.co.uk

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mPHASIS!
for the lighter side of life!

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mPATHY
thought of the month

Charity is the power of defending that which we know to be indefensible. Hope is the power of being cheerful in circumstances which we know to be desperate.

Chesterton 1874-1936
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mOFFERS
this month's exciting offers!

As a special thank you to all our readers we would like to offer you this free Conversion chart which you can print off and carry with you wherever you go.
Download pdf

LNG Today:2004 edition
As relevant today as the day it was written, this timely report is on offer to MZINE readers for £400. Just type MZINE in the 'notice to us box' to claim your discount!
Click for more information or to order your copy.

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mFEATURE

LOCATION, LOCATION, VOCATION

MJMENERGY TRAINING IN ABERDEEN  

Serving the Energy Industry has always been a core value for MJMEnergy, so when delegates from Aberdeen starting traveling to Oxford to attend a number of our energy training courses, the most obvious way of responding to our customer’s needs was to take our courses to Aberdeen.  

In September 2003, with this in mind we set up our first week of training in Aberdeen at The Macaulay Institute, Craigiebuckler, to offer our courses to companies in the region. Aberdeen is home to more than 300 international energy companies and we wanted to take our training to where there was a need.  
The first time we ran a series of courses it was something of an unknown quantity and while some subjects such as the UK Gas Market Introduction were well-attended, other more specific subjects were presented to just a few delegates. We were well aware of the marketing problems involved in getting the word round so many companies, each with many different departments.  

Since then things have developed, the word has spread and we’re seeing a growing number of delegates on the public courses and several large oil companies have now invited us to present in-house training tailored to their specific needs.  
We now make regular visits to the city and March 2^nd 2006 offers the first opportunity of the year to join us for our popular one-day training course, the UK Gas Market Introduction; this time we are located at the Norwood Hall Hotel, Cults. This will be a new location for us and having now had two ‘taster’ days (literally), we were impressed by the standard of the hotel, the food, the helpfulness of the staff and the relaxed atmosphere in which to learn and enjoy discussion with lecturers and fellow delegates.  
Responding to the vocational needs of our customers is vital to MJMEnergy Training. Whether it means simply providing the right subject or presenting at the correct level in a format that is easy to understand; we want to make our services accessible to everyone who wants to gain a better industry insight.

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