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BP Statistical Review of World Energy – 2012

The BP Statistical Review of World Energy, 2012 – the 61st annual report is launched today – highlights disruptions to supplies and ever-increasing demand as the two big energy stories of 2011.

In the foreground, the ‘Arab Spring’ affected oil and gas supplies—most notably the complete, albeit temporary, loss of Libyan supply—while the tragic Fukushima accident in Japan had knock-on effects for nuclear and other energy sources around the world. These shocks pushed energy prices higher in much of the world, with oil prices reaching a record average of over $100 per barrel (bbl) for the first time in history.

BP Statistical Review of World Energy June 2011

Watch a 3 minute video infographic summary

Methodology

The following methodological changes have been made to this year’s Review:

  • Fuels used as inputs for conversion technologies (gas-to-liquids, coal-to-liquids, and coal-to-gas) are counted as production for the source fuel and the outputs are counted as consumption for the converted fuel.
  • A new table has been added to the Review for consumption of commercial electricity produced from renewable sources. Electricity from renewable sources is converted to tonnes of oil equivalent following the same methodology used for nuclear and hydroelectricity, and is included in the primary energy consumption calculation. • A new table has been added for biofuels production. Biofuels consumption continues to be included in oil consumption data (see footnotes to oil consumption table).
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Where is China heading? What is in it for Latin America?

Contribution to World economic growth by region between 2011-2021

Presentation by Alicia García-Herrero, BBVA Research
IADB Meeting, Washington D.C., April 18, 2012

Latin America should not worry excessively about China for the next few years

But should start preparing for the future by:

  1. Diversifying into other Asian countries
  2. Persuing further economic integration

Best opportunities still in Asia as well as in Latin America itself

Download: Alicia García-Herrero presentation, IADB Meeting, Washington D.C.

Read more

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Emerging Markets Economic Outlook | Annual Report 2012

Contribution to World economic growth by region between 2011-2021

The group of emerging countries which compose the EAGLEs and the Nest (our watch list of countries which could eventually become an EAGLE) is expected to create more than two thirds of total global growth in the next ten years.On the other hand, G7 contribution would be around 16 per cent.

  • China, India, Brazil, Indonesia, Korea, Russia, Turkey, Mexico and Taiwan maintained their EAGLEs membership after BBVA Research updated its forecasts.Egypt became the first “fallen angel” entering the Nest group. Chile and Ukraine also joined this group, which means that there are now 15 economies in the waiting list to become an EAGLE.
  • Changes in the composition of the EAGLEs and the Nest highlight the advantages of using a dynamic approachto evaluate which are the key leading economies in the emerging world.
  • Macroeconomic vulnerabilities in the EAGLEs countries remain relatively limited,at least when compared with the developed world. However, the degree of vulnerability varies widely from country to country. The report offers a map of vulnerability by country.
  • The special topics of the Annual Report pertain to China growing net credit position with the rest of the world,the growing relevance of the Gulf as a bloc and the decreasing economic importance of Africa within EM.

Download: Emerging Markets Economic Outlook. Annual Report 2012

(c) Banco Bilbao Vizcaya Argentaria, S.A. – 2012

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Qatar Special Report | Wealthy state with a big presence

Qatar Special Report | Wealthy state with a big presence

The bay at the heart of Doha, Qatar’s capital, is a striking sight after dark. Across the water from the blocks and curves of the a rapidly multiplying skyscrapers downtown, the softly lit Islamic art museum sits next to a huge sports stadium, long boat docks for arriving spectators trailing elegantly from its sides.

Like much about this small country with big ideas, the nocturnal image is part fact, part fantasy. It is the product of an artist’s impression of what the area might look like by the time the 2022 football World Cup, which Qatar won against the odds, comes to town.

The museum and the skyline are real enough, but the stadium – like most of the rest of the massive infrastructural development planned over the next decade – is still just a twinkle in a designer’s eye. It is the next stage of the extraordinarily ambitious journey planned by Qatar, the world’s largest exporter of liquefied natural gas and a growing regional political force, to establish itself as a leading Middle Eastern country and a big actor on the world stage.

In this report:

  • Politics: There appears neither the scope nor the popular appetite for radical change.
  • Economy: The task of turning Qatar into a wellfunctioning diversified economy has only just begun.
  • Finance: The question is whether the banks are in a position to be more than mere recyclers of state investment.
  • Energy: Demand in the US for Qatari natural gas has been hit by the arrival of shale gas but demand from conveniently located Asian markets is holding up well.

and much much more

Download: QATAR Special Report

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Chile – Special report

Chile President Sebastián Piñera visits Queen Elizabeth II

Chile President Sebastián Piñera visits Queen Elizabeth II, Oct. 2010
President Piñera: ‘When you are poor, you worry about food and shelter. As you grow richer, other things become important: education, health, the environment’

Over the past 20 years, Chile has gained a reputation for stability. Once the poorest “Captaincy General” of Spain’s colonial possessions, last year it joined the rich countries’ club, the Organisation for Economic Co-operation and Development.

It has come to be known for having South America’s best managed economy, and has undergone a largely peaceful transition to democracy after the dictatorship of Augusto Pinochet ended in 1990.

But over the past few months, a country sometimes known as the “Switzerland of Latin America” has started to behave more like protest-engulfed Greece or Spain.

On August 25, more than 100,000 students took part in a march in Santiago demanding free education and other reforms. This degenerated into pitched battles with the police, who then doused the capital’s streets with tear gas.

In this report:

  • Economy | Steady demand insulates the home front
  • Politics | Both left and right face a battle to court young, disenchanted voters
  • Astronomy | Sterile desert is an ideal spot to search for life
  • Metals market | Country’s confidence is etched in copper
  • Power generation | Energy plans require PR and fat purses
  • Innovation | Incentives to support ideas
  • … and much more

Download: CHILE Special Report

(c) Financial Times

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BP Statistical Review of World Energy – June 2011

 

For 60 years, the BP Statistical Review of World Energy has provided high-quality, objective and globally consistent data on world energy markets. The Review is one of the most widely respected and authoritative publications in the field of energy economics, used for reference by the media, academia, world governments and energy companies. A new edition is published every June.

BP Statistical Review of World Energy June 2011

Methodology

The following methodological changes have been made to this year’s Review:

  • Fuels used as inputs for conversion technologies (gas-to-liquids, coal-to-liquids, and coal-to-gas) are counted as production for the source fuel and the outputs are counted as consumption for the converted fuel.
  • A new table has been added to the Review for consumption of commercial electricity produced from renewable sources. Electricity from renewable sources is converted to tonnes of oil equivalent following the same methodology used for nuclear and hydroelectricity, and is included in the primary energy consumption calculation. • A new table has been added for biofuels production. Biofuels consumption continues to be included in oil consumption data (see footnotes to oil consumption table).
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Investing in PERU | a special report by the FT

Peru presiden Ollanta Humala

Business slowly accepts president as early fears of an authoritarian approach seem to fade away.

Ollanta Humala admits he sometimes looks in the mirror and cannot believe he is president. Members of the exclusive Club Nacional, styled on the English gentleman’s model and situated a few hundred metres from the presidential palace in central Lima, feel the same way. It has been less

It has been less than four months since Mr Humala, a former army officer with no government experience, unexpectedly won the June 5 run-off. His narrow victory over centre- right candidate Keiko Fujimori, the daughter of a former president, sparked a record sell-off on the Lima stock exchange.

Since then, Mr Humala has dispelled many of the concerns held by investors – including the buttoneddown businessmen lunching in the Club Nacional’s chandeliered dining rooms. “There is a mood of cautious optimism,” admits one.

Even by Latin American standards, it has been a remarkably volatile year in Peru. It is the world’s second-biggest producer of copper, silver and zinc, and one of the globe’s fastestgrowing  conomies,having trebled in size since 2000.

 Download: PERU Special Report

(c) Financial Times