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Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: "enerfax1" <enerfax@msn.com<@ENRON X-To: EnerfaxGOLD@yahoogroups.com X-cc: X-bcc: X-Folder: \Lynn_Blair_Jan2002\Blair, Lynn\Deleted Items X-Origin: Blair-L X-FileName: lblair (Non-Privileged).pst Enerfax GOLD NORTH AMERICA'S FREE GAS, OIL, LIQUIDS & DERIVATIVES INFORMATION SOURCE Wednesday, December 26 2001 No. 450 Visit our website at: http://www.enerfaxgold.com/, PETROLEUM PRICES | Bonny Light | $18.78 | Brent | $18.60 | Butane | $ 0.36 | Fuel Oil #2 | $ 0.54 | Louisiana | $18.55 | Medit. | $18.23 | Propane Non-tet | $ 0.32 | Propane Wet-tet | $ 0.32 | W. Tx Int Cush | $19.18 | W. Tx Sour | $17.63 | Euro in US equiv | 0.8878 ------------------------------------------------------------- Todays Petro Bulletins * CFTC Data Shows Speculative Net Crude Shorts Rose Last Week * EIA Says World Oil Demand to Rise 56% by 2020 * AltaGas to Invest C$25 Million in Joffre Ethane Extraction Plant * EOTT's Credit Facility Increased to $300 Million * Conoco to Spend Up to $110 Million for Pollution Controls at Oil Refineries * IRS Issues Favorable Tax Ruling on Canadian Pacific Breakup * Anadarko Retains Oil & Gas Journal Property Exchange for South Louisiana Property Divestment * Phillips Announces Agreement with East Timor on Bayu-Undan Gas Development. Mexico Refinery Blast Kills One, Injures 17 * Saudi Arabia and Energy Majors to Sign Natural Gas Deals in March ------------------------------------------------------------- NYMEX - NY Harbor Heating Oil Month High Low Last Change JAN 02 0.5600 0.5460 0.5484 +0.0035 FEB 02 0.5625 0.5490 0.5506 -0.0010 MAR 02 0.5580 0.5470 0.5481 -0.0020 APR 02 0.5525 0.5440 0.5436 -0.0030 MAY 02 0.5525 0.5440 0.5381 -0.0040 JUN 02 0.5525 0.5455 0.5396 -0.0059 JUL 02 0.5570 0.5525 0.5451 -0.0035 AUG 02 0.5640 0.5590 0.5521 -0.0030 SEP 02 0.5730 0.5675 0.5606 -0.0030 OCT 02 0.5810 0.5790 0.5696 -0.0025 ------------------------------------------------------------- NYMEX Crude Oil Futures ($ / Barrel) Month Open High Low Last Change JAN 02 19.25 19.45 19.07 19.36 +0.14 FEB 02 19.43 19.75 19.25 19.62 +0.34 MAR 02 19.60 19.93 19.55 19.82 +0.25 APR 02 19.75 20.10 19.75 19.99 +0.28 MAY 02 19.88 20.12 19.88 20.13 +0.30 JUN 02 19.95 20.23 19.95 20.24 +0.30 JUL 02 20.21 20.21 20.15 20.30 +0.29 AUG 02 20.21 20.30 20.21 20.36 +0.28 SEP 02 20.24 20.28 20.24 20.42 +0.26 OCT 02 20.27 20.40 20.27 20.48 +0.24 ------------------------------------------------------------- Crude Oil Futures Rise Ahead of Extended Holiday Weekend Crude oil futures for February delivery on the NYMEX gained $0.34 to $19.62 per barrel on Friday as the market traded on short-term technicals. Traders were squaring their books before the long Christmas hokiday. Expectations that OPEC would finally move ahead with a plan to remove 2 million bpd from the world market likely gave the pre-holiday market a boost. The cartel has agreed to chop 1.5 million bpd from production if non-OPEC producers remove an additional 500,000 bpd between them. Last week, Omans raised its pledge to trim output from 25,000 to 40,000 bpd, which leaves the cartel only 37,500 bpd short of its goal. OPEC ministers plan to meet in Cairo on December 28th to weigh their options, but insiders say the cartel will move ahead with their plans, despite the relatively small shortfall. Petroleum inventories are 50 million barrels higher than a year ago, after a slumping economy whittled away at demand. But gasoline and heating oil stockpiles unexpectedly fell for the week ended December 14th and crude inventories rose less than predicted. The EIA said that the national average retail price for gasoline has fallen $0.036 to $1.06 per gallon, down $0.36 from a year ago. Gasoline futures for January delivery on the NYMEX climbed $0.0083 to $0.5586 per gallon. January heating oil futures on the NYMEX rose $0.0035 to $0.5484 per gallon after forecasts that temperatures in the Northeast would be near or below normal over the Christmas season. In London, Brent crude oil futures for February delivery on the IPE were up $0.23 to $19.36 per barrel. ------------------------------------------------------------- Power Traders If you like tools, wouldn't it be nice to have one that makes you money? --Profit from Time2Trade(tm) Power Analysts If you like detail, wouldn't it be great to have it all? --AcuPower - Now with Trader & Analyst Consoles For a free trial go to http://www.capacitymap.com/ ------------------------------------------------------------- NYMEX Henry Hub Natural Gas Futures 12 Month Strip 2.9819 +0.1286 18 Month Strip 3.0817 +0.1223 | Month | High | Low | Close | Change | | JAN | 2.910 | 2.690 | 2.895 | +0.209 | | FEB | 2.920 | 2.754 | 2.889 | +0.181 | | MAR | 2.880 | 2.750 | 2.869 | +0.158 | | APR | 2.830 | 2.725 | 2.824 | +0.133 | | MAY | 2.860 | 2.775 | 2.861 | +0.120 | | JUN | 2.900 | 2.835 | 2.912 | +0.113 | | JUL | 2.930 | 2.880 | 2.952 | +0.110 | | AUG | 2.970 | 2.925 | 2.990 | +0.103 | | SEP | 2.965 | 2.875 | 2.995 | +0.103 | | OCT | 3.010 | 2.945 | 3.017 | +0.103 | | NOV | 3.175 | 3.140 | 3.202 | +0.103 | | DEC | 3.350 | 3.300 | 3.377 | +0.108 | ------------------------------------------------------------- Energy Releases Opt in Email has 9 times the response of regular mail and costs less than the postage. Have your press or news releases sent to over 50,000 energy professionals. For More Information Write Energyreleases@yahoo.com ------------------------------------------------------------- Bad Weather in Russia Lowers Oil Exports Russia is set to announce crude exports in the 4th quarter were almost 150,000 bpd below what was planned due to bad weather. The fall, equal to what OPEC asked Russia to cut in exports in the 1st quarter of 2002, would be down from an initial 4th quarter schedule of 2.88 million bpd for Russian and transit oil. The 4th quarter figures will be released in early January. Predictions are that Russia will be short by 145,000 160,000 bpd if the weather does not take a turn for the worse. Third quarter exports came in around 3 million bpd. Russia committed to trim exports by 150,000 bpd as part of OPEC's plan to have non-members contribute 500,000 bpd in export reductions before the cartel would lower its production by 1.5 million bpd. Removal of the oil from the global market is aimed at lifting prices which have tumbled as an economic downturn has eaten away at demand. But, Russian oil exports were already hard hit by inclement weather in November when the key ports of Novorossiisk and Tuapse in Russia, Odessa in Ukraine and Ventspils in Latvia were closed for a total of 25 days. In December, Novorossiisk was shut- down for over 10 days, while Lithuanian terminal Butinge was closed the entire month because of an oil leak. Russian crude output and export schedules are established every quarter and spread among the country's oil firms. OPEC has asked Russia to explain the statistics of its promised 1st quarter cut before the cartel meets on December 28 in Cairo to set its own final reduction. Those close to the situation have reported that Russia will set exports at 2.6 million bpd, or about 144,000 bpd lower than the 4th quarter. Lukoil said that Russia needed to reduce output to prevent an already overloaded pipeline system from breaking down. ------------------------------------------------------------- GET REAL about energy risk management with KWI In today's fast moving energy markets you need to be able to manage risk in real time. That means knowing before you hit a risk problem, not afterwards when it may be too late to prevent big losses spreading right through your enterprise. With kW3000(tm), our multi-commodity, integrated front to back office software, you can monitor your Profit At Risk(tm), counterparty risk and mark-to-market all in real time. Keep alert to risk. Do it in real time. Call KWI -http://www.kwi.com/ Americas: +1-281-681-3301 / Europe: +44 (0) 20-7386-2700 / Asia Pacific: +61(0) 2-9976-6111 ------------------------------------------------------------- IPE-Brent Crude futures (US $/barrel) Month First High Low Sett Chg FEB 02 19.25 19.51 19.25 19.37 +0.24 MAR 02 19.00 19.20 18.91 19.07 +0.25 APR 02 19.11 19.25 18.93 19.25 +0.41 MAY 02 19.12 19.20 19.01 19.20 +0.31 JUN 02 19.24 19.36 19.20 19.36 +0.35 JUL 02 19.34 19.49 19.23 19.49 +0.38 AUG 02 19.42 19.42 19.42 19.42 +0.21 SEP 02 19.43 19.43 19.43 19.43 +0.12 OCT 02 19.46 19.46 19.46 19.46 +0.07 NOV 02 19.53 19.53 19.53 19.53 +0.07 ------------------------------------------------------------- NYMEX-Mont Belvieu Propane Gas Futures($ / Gallon) Month High Low Last Change Jan 02 0.3300 0.3175 0.3200 +0.0050 Feb 02 0.3225 0.3200 0.3200 +0.0050 Mar 02 0.3200 0.3200 0.3200 +0.0025 Apr 02 0.3225 0.2950 0.3225 +0.0000 May 02 0.3250 0.3250 0.3250 -0.0025 Jun 02 0.3275 0.3275 0.3275 +0.0000 Jul 02 0.3325 0.2950 0.3325 +0.0000 Aug 02 0.3400 0.3100 0.3400 +0.0000 Sep 02 0.3500 0.3275 0.3500 +0.0000 Oct 02 0.3500 0.3275 0.3500 +0.0000 ------------------------------------------------------------- Saudi Arabia and Oil Majors Negotiating Natural Gas Agreements Saudi Arabia and 8 international oil companies, which are negotiating large natural gas investments in the country, have said that they expect to sign executive agreements by next March. The agreements center around 3 multi-billion dollar projects in the Saudi natural gas sector. ExxonMobil and Royal Dutch/Shell will take the lead in the kingdom's natural gas initiative. ExxonMobil has the lead role in the $15 billion South Ghawar development, core venture one, which includes Royal Dutch/Shell, BP and Phillips. ExxonMovil will also lead the $5 billion Red Sea development, core venture 2, which includes Occidental and Marathon. Royal Dutch/Shell has the leading role in the $5 billion Shaybah development, core venture three, with Conoco and TotalFinaElf. The natural gas initiative is expected to boost the Saudi economy and create jobs. The kingdom's natural gas upstream has been off-limits to foreign companies for the past 25 years. ------------------------------------------------------------- ENERGY JOB LISTINGS Whether you are actively looking for a job, or want to explore opportunities in the energy industry, go to http://www.energyjobs.com. At Energyjobs.com, your job hunting is made easy, convenient and confidential. Conduct your own search or participate in our Job Match feature, which accurately matches your qualifications, experience and requirements to any new job that appears, and then sends you an e-mail notification! Best of all, membership < is FREE. To register and become a member, simply go to http://www.energyjobs.com/jobseeker_registration_frm.html ------------------------------------------------------------- IPE - ARA Gas Oil Futures $ / Tonne Month High Low Sett Change JAN 02 167.50 165.00 165.00 - 5.25 FEB 02 168.75 167.00 167.50 - 4.25 MAR 02 169.25 168.00 168.25 - 3.75 APR 02 169.75 168.75 168.75 - 4.00 MAY 02 173.00 173.00 173.00 + 0.00 JUN 02 171.50 170.25 170.50 - 3.50 JUL 02 172.00 172.00 172.00 - 3.50 AUG 02 173.50 173.50 173.50 - 3.50 SEP 02 178.50 178.50 178.50 + 0.00 OCT 02 180.00 180.00 180.00 + 0.00 ------------------------------------------------------------- NY HARBOR UNLEADED GAS FUTURES Month High Low Last Change JAN 02 0.5620 0.5500 0.5586 +0.0083 FEB 02 0.5650 0.5560 0.5590 +0.0023 MAR 02 0.5760 0.5700 0.5700 +0.0003 APR 02 0.6370 0.6325 0.6305 +0.0005 MAY 02 0.6430 0.6375 0.6345 +0.0000 JUN 02 0.6440 0.6410 0.6345 +0.0000 JUL 02 0.6420 0.6420 0.6305 -0.0085 AUG 02 0.6285 0.6280 0.6225 +0.0000 SEP 02 0.6170 0.6170 0.6100 +0.0000 OCT 02 0.5875 0.5875 0.5875 -0.0085 ------------------------------------------------------------ Get familiar with oil-gasoline.com, inc. This web site ranks among the favorite sites for petroleum company executives. In 2002, the corporation plans to run an interactive crude oil model to provide the latest status of world-wide supply and demand. You will want to bookmark this one! ------------------------------------------------------------- EIA 2002 Energy Outlook Average world oil prices will gradually move higher from 2002 through the year 2020 as demand rises by 56%, according to the EIA in its Annual Energy Outlook 2002 report, but natural gas and electricity prices will likely fall. The EIA expects world oil demand to rise to 118.9 million bpd in 2020. World demand stood at 76 million bpd seen in 2000. World oil prices will also average $22.48 a barrel in 2001, down from $27.72 in 2000, before starting a gradual increase after 2002, the report predicted. The price in 2020 will reach $24.68 per barrel, largely due to higher projected world demand. The EIA also forecasted that OPEC oil production will reach 57.5 million bpd in 2020, almost twice the 30.9 million bpd produced last year. Average wellhead prices for natural gas will likely be at $4 per Mcf in 2001, up from $3.60 in 2000, but then decline sharply by 2020, the EIA report said. It predicted a price of $3.26 per Mcf for 2020, even though demand that year will likely be 1 Tcf lower than was projected in 2001, because of a less optimistic assessment of natural gas reserves discovered by exploratory drilling. Electricity prices are also predicted to decline to $0.065 per kWh in 2020, down from $0.069 in 2000. But the new 2020 price level is higher than the $0.061 projected last year because of higher than previously expected electricity demand. The accuracy of 20-year forecast is not only severely limited but also does not account for the volatility during the period. To see the full report, please go to: www.eia.doe.gov/oiaf/aeo/index.html ------------------------------------------------------------- ENERGY. @ENERGY(r), FEA's Complete Suite of Energy Products, BUILT FOR THE FUTURE. *Manage all your energy risks. *Build and Price deals. *Value physical assets (generation, storage, etc.) *Report and reduce your energy risks FEA FINANCIAL ENGINEERING ASSOCIATES Inc. http://www.fea.com/?cId=14 main phone number: 1 510-548-6200 email address: info@fea.com ------------------------------------------------------------- PHYSICAL GAS PRICES Gulf/Eastern Region | Agua Dulce | 2.49 | | ANR SE | 2.54 | | Carthage TG | 2.57 | | Chicago Citygate | 2.57 | | Columbia Gulf Onshore | 2.57 | | Dominion South Point | 2.70 | | Henry Hub | 2.63 | | Houston Ship Channel | 2.64 | | Katy Hub | 2.58 | | NGPL LA Pool | 2.53 | | NGPL - Midcontinent | 2.46 | | NGPL STX | 2.51 | | NGPL TX/OK | 2.55 | | NNG Demarc. | 2.51 | | Niagara | 2.82 | | Sonat Tier 1 | 2.56 | | TCO IPP Pool | 2.71 | | Tetco ELa | 2.54 | | Tetco M-3 | 2.98 | | Tetco STX | 2.47 | | TGP Zone 0 | 2.48 | | TGP Zone 1 (500 Leg) | 2.54 | | TGT Zone SL | 2.59 | | New York Citygate | 3.03 | | Transco Station 65 | 2.64 | | Transco Zone 6 (NY) | 3.03 | | Trunk ELa | 2.51 | | Western Region | California Border | 2.55 | | El Paso Keystone | 2.44 | | El Paso San Juan-Blanco | 2.40 | | Waha Hub | 2.49 | | Canadian/Rockies Region | Nova/Aeco (C$/gig) | 3.42 | | Dawn Hub/Union | 2.78 | | Northwest Stanfield | 2.46 | | Wyoming Pool | 2.31 | | Opal/Kern River | 2.31 | | PGT-Malin | 2.53 | | Sumas | 2.46 | Flow Dates 12/22-26 ------------------------------------------------------------- Shell and Gazprom in Russian Arctic Natural Gas Deal Russia's Gazprom is set to conclude a joint venture agreement with Shell that will allow Shell to invest in a huge Arctic natural gas field operated by Gazprom. The deal is supported by both Vladimir Putin and Tony Blair. Gazprom brought the field onstream last October in the polar region of Yamal-Nenets. The field, Zapolyarnoye, is the world's 5th largest natural gas field. It holds 3 trillion cubic meters and a life of at least 42 years. ------------------------------------------------------------ Energy Seminars, Inc. Announces Key Seminar Offerings for January: Energy Seminars will be going to Florida and Calgary in 2002! Click to www.energyseminars.com to see our 2002 schedule. Register on-line at http://www.energyseminars.com or call Registrar Gina Patrick Phone: 281-362-7979 FAX: 281-296-9922 ------------------------------------------------------------- Antitrust Lawsuit Reinstated Against Major Oil Companies An appeals court has strengthened the claims of a 1997 lawsuit that alleges oil and petrochemical companies used shared salary information to unlawfully keep workers' pay at artificially low levels. The 2nd Circuit Court of Appeals tossed out a lower court ruling dismissing the lawsuit, brought against 14 major companies that employ about 80% - 90% percent of the industry's work force. The defendants previously denied the allegations. The case was sent back to the lower court for further proceedings. The lawsuit was brought by a former Exxon worker on behalf of herself and other Exxon employees alleging the companies violated federal antitrust law by regularly sharing detailed information about compensation paid to nonunion managerial, professional and technical employees agreeing that they would use the data to set salaries. In addition to Exxon, the other defendants include: Mobil, Texaco and Chevron. ------------------------------------------------------------- Energy Sponsor Become the Official Sponsor of the Enerfax Publications. This unique opportunity is limited to one special company or organization. For more information please write sponsor@enerfax.com ------------------------------------------------------------- Washington DC January 24, 2002 Spencer Abraham U.S. Secretary of Energy to address energy community on potential security and commerce threats. Also to speak will be key directors from the CIA, SPR, IEA, SPR and more. See complete detail and register today at http://www.wesc.org ------------------------------------------------------------- FINANCIAL SUMMARY The TSE 300 added 73.33 points to 7528.30 The CRB Index rose 1.25 points to 191.40 The US Dollar gained 1.31 points to 116.98 The Dow advanced 50.16 points to 10035.34 The S&P 500 climbed 4.96 points to 1144.89 The Nasdaq was up 27.29 points to 1945.83 February NYMEX Crude Oil rose 0.34 to 19.62 Canadian-US Exchange added 0.0033 to 1.5775 ------------------------------------------------------------- Please Welcome Our Advertisers by Visiting These Websites! http://www.fea.com/ http://www.kwi.com/ http://www.capacitymap.com/ http://www.energyseminars.com http://www.energyjobs.com Enerfax Gold is the North America's Gas, Oil, Liquids and Derivatives information source. It is sent to you free of charge. Enerfax Gold may be copied and redistributed in its entirety to all interested energy professionals. Please send us the e-mail addresses of other energy professionals that would like to be added to Enerfax Gold's growing distribution list of thousands of energy professionals in the US and Canada at subscribegold@enerfax.com The information contained herein was obtained from sources which Enerfax Gold believes to be reliable, but does not guarantee its accuracy. Your support of our advertisers is greatly appreciated and will keep Enerfax Gold free. Thank you. Your comments are welcome. For information on advertising, please write advertising@enerfax.com Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
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