Editors Notes: ROGTEC Magazine Issue 14

Dear Readers,

Although I can hardly believe it, we are coming to the end of the year and the last issue of ROGTEC 08. It has been an interesting year in many respects; we have seen oil reach a peak of 147 dollars a barrel and swing back down to ?? at time of going to press. The facts are simple: global demand for oil, gas and petroleum products are increasing exponentially and commodity prices have always swayed primarily on the simple equation of supply and demand. The reduction in prices have come as welcome relief to struggling consumers and indeed economies, however the majority of consumables we use, from the computer on which I am writing this letter, to the car you drive and the petrol you fill it with are made from our beloved oil. It is true, and indeed obvious, that as the price of oil comes down, so do the profit margins of the operators. However, with demand continuing to stay strong for petroleum products globally, the smart money is on small drop followed steady increase in the price of a barrel. History shows that the oil industry tends to learn from its mistakes, and if operators stop investing in future production today due the low price of a barrel, there will be a lack of supply in the short to medium term. This will cause a serious spike in oil prices due demand outstripping supply. Leading the way in this respect are TNK-BP, who have recently announced that despite the current financial downturn, they intend to continue producing oil, increasing their reserves, building winter roads and oil-gathering centers, and constructing pipelines that will connect new fields with the trunk pipeline. Also let us not forget about natural gas, of which the Russian Federation holds the largest global reserves. A cheaper, greener and more abundant resource than its more illustrious brother oil, natural gas will, many say, become the hydrocarbon of choice in the not so distant future.

Back to ROGTEC Magazine, and we have had a great few months showcasing our latest issue. First up was our annual trip to Almaty for the Kazakhstan Oil and Gas Exhibition. We have seen this show grow and prosper over the last 4 years and this year was no exception. It was great to see all of our clients supporting the event, and we were again proud to be the only mainstream regional publication with a booth and personal presence at the exhibition. We followed this with a great booth and significant bonus distribution at the Russian Oil and Gas Technology Conference in Moscow. In fact, our presence was such that for the second year running, its seems we outgunned the official publication! On a serious note there were some great technologies under the spotlight, which we will look forward to reporting on later next year. From Russia to the Middle East, and ADIPEC, one of the largest energy exhibitions on the planet. It was great to be at this industry standard event and one we will look forward to attend again next year.

As I´m sure most of you new, ROGTECMAGAZINE.com has recently been relaunched and is receiving some serious attention from the industry. Since launching our newsletter at the beginning of November, we have received a fantastic response with direct replies a significant increase of traffic to ROGTECMAGAZINE.com. Our online issue is receiving some serious viewing and we are very proud to have received some great feedback.

Let me take this opportunity to wish you all a very happy holiday season, and remember, if you´re thinking Russia, think ROGTEC!