The structure of the flow around an oblate ellipsoidal bubble of fixed shape is studied by means of direct numerical simulation for Reynolds numbers Re up to 103. In agreement with a previous study by Dandy and Leal [Phys. Fluids29, 1360 (1986)] the computations demonstrate that if the bubble aspect ratio &khgr; is high enough a standing eddy can exist at the rear of the bubble in an intermediate range of Re. This eddy disappears beyond a certain Reynolds number and it is shown that its existence is governed by the competition between accumulation and evacuation of the vorticity in the flow. The range of Re where the eddy exists increases very rapidly with &khgr; meaning that this structure is certainly present in many experimental situations. The evolution of the drag coefficient with Re reveals that the oblateness has a dramatic influence on the minimum value of Re beyond which Moore’s theory [J. Fluid Mech.23, 749 (1965)] can be used to predict the rise velocity of a bubble of fixed shape. In contrast, owing to the shape of the vorticity distribution at the surface of the bubble, no noticeable influence of the standing eddy on the drag is found. A quantitative comparison between the present results and those of previous authors shows that the computational description of the boundary layer around curved free surfaces is not a trivial matter since a strong influence of the numerical method is observed. ©1995 American Institute of Physics.