These days, asking for a status report has become the short “status me”. Running short on time? Simply turn a noun into a verb – your turn of phrase may catch on (it sometimes works the other way round, as well).

This final issue for 2006 has a different sort of feel to it – not the usual end-of-the-year feel. As we worked to bring all the parts together, we looked back over the year as well a forward into the coming year. The one thing that stood out is that where the industry stands at this moment has been the real focus of this issue. In some ways it works like a good status report – a finger on the pulse, if you will. Prepare to be statused.

What better way to get a snapshot of the entire oil activities off Norway’s coast than to talk with the man who heads the only “100% Norwegian” oil company, Kjell Pedersen of Petoro. For many Petoro is almost invisible, but as the proprietor of the state’s direct investment in oil and gas activities, this small company is the pulse of the Norwegian continental shelf. He tells of developments since Petoro’s inception as well forward to the future. The prognosis looks good.

In a perspective from across the Northern Atlantic, we have an interview with Teekay President of Gas Services, David Glendinning, who explains how his company has become a key participant when it comes to LNG transport as well as in the transport of compressed natural gas. The company’s strategy means Teekay will continue to be an important player as the gas transportation business grows.

And grow it will. We include two views into ongoing growth in gas – important reading whether you are a decision maker or just curious about how things are shaping up. As Ormen Lange and Snøhvit come on-line in 2007, a better grasp of the economic forces at work will be invaluable in understanding how these fields will make their mark in the marketplace.

In some oil regions, “The Resource Curse” has meant corruption, with oil wealth flowing into the pockets and offshore bank accounts of the few, while the majority live well below the poverty line by any standard. The Extraction Industries Transparency Initiative – EITI – aims to change this by offering support to countries that wish to break the cycle of corruption. October’s EITI conference in Oslo helped to shed even more light on these issues, hopefully encouraging higher levels of transparency around the globe.

We also include coverage from India about the high-level trade mission – the third meeting of the Indo-Norwegian Joint Working Group (JWG) – led by HRH Crown Prince Haakon and included representatives of several Norwegian ministries, most notably Odd Roger Enoksen , Minister of Petroleum and Energy. Norsk Hydro and India’s ONGC Videsh announced a deal during the same week.

And there’s much more, including downstream and subsea industry reports, information about upcoming events and even something for those craving a new gadget. There you are – you’ve been statused.

Everyone here at the magazine would like to wish you