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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 Thursday, December 27 2001 No. 451 Visit our website at: http://www.enerfaxgold.com/, PETROLEUM PRICES | Bonny Light | n/a | Brent | n/a | Butane | $ 0.37 | Fuel Oil #2 | $ 0.59 | Louisiana | $21.45 | Medit. | n/a | Propane Non-tet | $ 0.33 | Propane Wet-tet | $ 0.33 | W. Tx Int Cush | $21.28 | W. Tx Sour | $19.65 | Euro in US equiv | 0.8801 ------------------------------------------------------------- Todays Petro Bulletins * OPEC to Cut Output by 1.5 Million Barrels per Day * LUKOIL Considering 7.5% Stake in Baku-Ceyhan Pipeline * Heating Oil Rises to Highest Price in More than a Month * Heating Oil Inventories 18% Higher than Year Ago * Penn Virginia Corporation Announces New Board Member * Japanese Retail Gasoline Prices Hit 19-Month Low in December * EOTT Boosts Credit Line to $300 Million. * Court Denies Maritrans' Claim for Damages from Oil Pollution Act of 1990 * Qatar and UAE Sign $3.5 Billion Natural Gas Transfer Deal ------------------------------------------------------------- NYMEX - NY Harbor Heating Oil Month High Low Last Change JAN 02 0.5980 0.5545 0.5946 +0.0462 FEB 02 0.6000 0.5600 0.5968 +0.0462 MAR 02 0.5930 0.5600 0.5913 +0.0432 APR 02 0.5830 0.5530 0.5838 +0.0402 MAY 02 0.5740 0.5690 0.5758 +0.0377 JUN 02 0.5810 0.5500 0.5763 +0.0367 JUL 02 0.5860 0.5540 0.5813 +0.0362 AUG 02 0.5860 0.5620 0.5878 +0.0357 SEP 02 0.5730 0.5675 0.5606 +0.0000 OCT 02 0.5975 0.5785 0.6043 +0.0347 ------------------------------------------------------------- NYMEX Crude Oil Futures ($ / Barrel) Month Open High Low Last Change FEB 02 19.80 21.43 19.70 21.27 +1.65 MAR 02 20.00 21.60 19.98 21.45 +1.63 APR 02 20.15 21.63 20.15 21.55 +1.56 MAY 02 21.28 21.60 21.10 21.65 +1.52 JUN 02 20.85 21.75 20.85 21.72 +1.48 JUL 02 20.45 21.23 20.45 21.74 +1.44 AUG 02 20.21 20.30 20.21 20.36 +0.00 SEP 02 21.35 21.55 21.35 21.80 +1.38 OCT 02 20.27 20.40 20.27 20.48 +0.00 ------------------------------------------------------------- Crude Oil Futures Rally on Anticipated OPEC Cut Crude oil futures for February delivery on the NYMEX climbed $1.65 to $21.27 per barrel yesterday in its biggest gain in over a year amid signs that OPEC will proceed with plans to cut production by 1.5 million bpd in a bid to lift sagging crude prices. To avoid losing market share, the cartel had demanded that non-OPEC producers contribute a cut of 500,000 bpd between them before it would make any further slices in its own production. So far, Russia, Mexico, Norway, Oman and Angola have committed to a combined 462,500 curb in exports, which appears to be enough to allow OPEC to go ahead with their plans. The ministers are scheduled to meet in Cairo on Friday and are expected to take that opportunity to announce their cut. The IEA projects that world demand will rise by 600,000 bpd next year, about 30% below the average annual gain during the 1990's, as the largest oil consumers, the US and Japan are mired in a recession. The CFTC has reported that traders sold more crude oil futures contracts on the NYMEX than they bought in the week ended December 18th, producing the highest net short position levels since the contracts began trading in 1983. Heating oil futures for January delivery on the NYMEX jumped $0.0462, or 8.4%, to $0.5946 per gallon as colder weather arrived in most of the eastern portion of the US. The increase in heating oil was the biggest gain since last April. January gasoline futures on the NYMEX rose $0.0427 to $0.6013 per gallon. In London, the IPE was closed in observance of Boxing Day. ------------------------------------------------------------- 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 3.0302 +0.0483 18 Month Strip n/a | Month | High | Low | Close | Change | | JAN | 3.030 | 2.890 | 2.911 | +0.016 | | FEB | 3.020 | 2.900 | 2.937 | +0.048 | | MAR | 2.970 | 2.900 | 2.917 | +0.048 | | APR | 2.920 | 2.870 | 2.872 | +0.048 | | MAY | 2.950 | 2.910 | 2.914 | +0.053 | | JUN | 2.980 | 2.920 | 2.963 | +0.051 | | JUL | 3.020 | 3.000 | 3.003 | +0.051 | | AUG | 3.055 | 3.010 | 3.041 | +0.051 | | SEP | 3.055 | 3.050 | 3.046 | +0.051 | | OCT | 3.070 | 3.020 | 3.071 | +0.054 | | NOV | 3.250 | 3.250 | 3.256 | +0.054 | | DEC | 3.435 | 3.400 | 3.431 | +0.054 | ------------------------------------------------------------- World Heating Fuel Projections The eastern half of the US will continue to experience colder weather for the next several days resulting in strong heating fuel consumption. Temperatures are expected to be 8 to 16 degrees below average from the central Plains to the mid-Atlantic region southward to the Gulf of Mexico. New England, the upper Midwest and the northern Plains will be a little milder than normal, but heating fuel demand will remain higher than usual. Mild weather is expected throughout the western states decreasing demand for heating fuel. In Canada, above normal temperatures into early January will keep heating fuel consumption lower than normal. A cool-weather bias will remain in far southeastern Canada for the several days producing above normal demand for heating fuels. Milder weather in western Europe will significantly reduce heating fuel consumption during the next 7 to 10 days. In the UK and France, temperatures will be close to normal through January 5th. Germany and eastern Europe will experience colder temperatures, but some reduction in heating fuels demand will occur. Temperatures in Scandinavia will average from 4 to 8 degrees Celsius below normal producing strong heating oil consumption through early January. China's weather will continue to be colder than usual, with temperatures expected to average from 4 to 8 degrees Celsius below normal for the next 10 days. Japans usage of heating fuel is projected to higher than normal through January 5th. Most of the country will be 2 to 5 degrees Celsius below average. ------------------------------------------------------------- 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 ------------------------------------------------------------- Saudi Minister Says OPEC to Announce Cuts in Cairo Comments made by the Saudi oil minister seem to indicate that OPEC is ready to go ahead with a planned production cut of 1.5 million bpd after receiving commitments from non-member producers to also reduce exports. The minister said that OPEC would announce the reductions at a meeting in Cairo on Friday. The remarks put an end to a threatened price war between the cartel and non-OPEC producers. The cartel had accused the non-aligned producers of taking advantage of curbs already implemented this year by OPEC to grab a larger share of the market. The cartel had demanded that the non-member producing countries trim 500,000 bpd from exports before it would once again slice production. To date Russia, Mexico, Norway, Oman and Angola have pledged cuts totaling 462,500 bpd, which appears to be enough to convince OPEC to proceed with its cut. The ministers also seem to be comfortable with the level of commitment by the non-members to stick to their quotas for the specified 6-month period. The new restrictions will lower exports for 10 OPEC producers to 21.7 million bpd, down 5 million bpd or 19% from a year ago, the lowest level in 10 years. Iraq, the 11th member produces at will because of UN sanctions. The new supply limits are designed to lift prices back to $20-$25 per barrel for the basket of OPEC crude oils. ------------------------------------------------------------- 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 0.3350 0.3300 0.3425 +0.0000 FEB 02 0.3350 0.3300 0.3425 +0.0000 MAR 02 0.3500 0.3350 0.3425 +0.0000 APR 02 0.3225 0.3225 0.3225 +0.0000 MAY 02 0.3250 0.3250 0.3250 +0.0000 JUN 02 0.3275 0.3275 0.3275 +0.0000 JUL 02 0.3325 0.3325 0.3325 +0.0000 ------------------------------------------------------------- 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 0.6040 0.5610 0.6013 +0.0427 FEB 02 0.6100 0.5645 0.6067 +0.0477 MAR 02 0.6150 0.5780 0.6160 +0.0460 APR 02 0.6750 0.6390 0.6750 +0.0445 MAY 02 0.6800 0.6650 0.6780 +0.0435 JUN 02 0.6750 0.6720 0.6765 +0.0420 JUL 02 0.6700 0.6520 0.6705 +0.0400 AUG 02 0.6285 0.6280 0.6225 +0.0000 SEP 02 0.6500 0.6500 0.6475 +0.0375 OCT 02 0.5875 0.5875 0.5875 +0.0000 ------------------------------------------------------------- Patterson-UTI Buys Cleere Drilling Rigs Patterson-UTI Energy has acquired 17 land-based drilling rigs from Cleere Drilling. Patterson-UTI is the 2nd largest operator of land based oil and natural gas drilling rigs in North America. It paid $13.5 million in cash, plus 45 0,000 Patterson-UTI common shares, worth $9.95 million and also 325,000 warrants convertible into common shares at a price of $26.75 per share. Patterson-UTI owns 319 rigs operating in Texas, New Mexico, Oklahoma, Louisiana, Mississippi, Alabama and western Canada. The deal also included 28 rig-moving trucks and other inventory and equipment. -------------------------------------------------------------- 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! ------------------------------------------------------------- Philadelphia Oil Service Index Climbs to August Levels The Philadelphia Oil Service Index climbed as high as 89.85, its highest level since August, closing at 89.41, up 3.8% yesterday. Shares of Rowan added $0.77 to $19.70 and Schlumberger stocks gained $2.85 to $55.95. Integrated oil stocks also gained, as the CBOE Oil Index was up 1.3% to 300.2. ChevronTexaco rose $0.65 to $89.20 and ExxonMobil advanced $0.60 cents to $39.60. On the NYMEX, February crude oil rose to session high at $21.43 per barrel, its highest level in 6 weeks. It closed at $21.27, up $1.65, or 8.6%. Expectations that OPEC will proceed with a planned production cut of 1.5 million bpd at a meeting in Cairo on Friday likely gave the market a lift. Although non-OPEC producers are a little short of the 500,000 bpd reduction that OPEC demanded, it appears that they came close enough, with a combined pledge to cut 462,500 bpd, to satisfy the cartel. ------------------------------------------------------------- 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 ------------------------------------------------------------- Egypt Increases Oil Reserves Egypt's Oil Ministry says new oil and condensate finds with recoverable reserves of 178 million barrels, and natural gas reserves of 1.5 Tcf have been discovered. About 15 wells had been drilled, of which 7 were now producing at a total of 16,000 bpd. The oil discoveries were made in the Gulf of Suez and the country's western and eastern deserts, and the natural gas discoveries were made in the Nile Delta area, western desert and in the Mediterranean sea. Egypt produced about 640,000 barrels of oil per day in November. It has proven natural gas reserves of 53.3 Tcf, and oil reserves of 3.8 billion barrels. ------------------------------------------------------------- PHYSICAL GAS PRICES Gulf/Eastern Region | Agua Dulce | 2.80 | | ANR SE | 2.88 | | Carthage TG | 2.84 | | Chicago Citygate | 2.98 | | Columbia Gulf Onshore | 2.92 | | Dominion South Point | 3.14 | | Henry Hub | 2.96 | | Houston Ship Channel | 2.96 | | Katy Hub | 2.90 | | NGPL LA Pool | 2.86 | | NGPL - Midcontinent | 2.79 | | NGPL STX | 2.83 | | NGPL TX/OK | 2.84 | | NNG Demarc. | 2.92 | | Niagara | 3.17 | | Sonat Tier 1 | 2.91 | | TCO IPP Pool | 3.09 | | Tetco ELa | 2.91 | | Tetco M-3 | 3.65 | | Tetco STX | 2.85 | | TGP Zone 0 | 2.83 | | TGP Zone 1 (500 Leg) | 2.90 | | TGT Zone SL | 2.94 | | New York Citygate | 3.81 | | Transco Station 65 | 2.97 | | Transco Zone 6 (NY) | 3.91 | | Trunk ELa | 2.87 | | Western Region | California Border | 2.83 | | El Paso Keystone | 2.74 | | El Paso San Juan-Blanco | 2.72 | | Waha Hub | 2.79 | | Canadian/Rockies Region | Nova/Aeco (C$/gig) | 3.84 | | Dawn Hub/Union | 3.09 | | Northwest Stanfield | 2.69 | | Wyoming Pool | 2.68 | | Opal/Kern River | 2.68 | | PGT-Malin | 2.79 | | Sumas | 2.55 | Flow Date 12/27 ------------------------------------------------------------- UDS Refinery Restart Delayed Ultramar Diamond Shamrock has run into problems trying to restart the fluid catalytic cracker at its Golden Eagle refinery near San Francisco following scheduled maintenance work. The catalytic cracker and an alkylation unit had to be closed down, contributing to a rise in wholesale gasoline prices in the area. A new attempt to restart the FCC is expected today. UDS announced in November that it had shutdown the FCC at the 170,000 bpd refinery for scheduled maintenance work and that would be followed by maintenance work on the hydrocracker at the same refinery. Wholesale CARB gasoline prices in San Francisco rose by over $0.04 per gallon yesterday. ------------------------------------------------------------- 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 ------------------------------------------------------------- Taiwan Deregulates Oil Market Taiwan's economics ministry has announced the full opening of the oil market to foreign-refined products, heaping pressure on state- run giant Chinese Petroleum Corp to speed up deregulation. The privatization of Taiwan's oil products came after passage of the oil management law in September, which would open the floodgates to imports of gasoline, diesel and kerosene, and expand the island nation's already crowded energy market. After the opening, any company, which has facilities to store 60 days of reserves or 50 million liters of the oil products, is allowed to buy them from foreign refiners, said the Energy Commission. In 1999, the government cut restrictions on imports of jet fuel, fuel oil and LPG as part of its drive to meet requirements for entry into the WTO. The complete deregulation was set to further erode market share of dominant supplier CPC. CPC, faced with a saturated domestic market and increasing competition, will have to accelerate its privatization or see a further erosion of dominance in the local oil market. CPC says it plans to sell as much as a 50% stake overseas in the second half of 2002. ------------------------------------------------------------- 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 24.29 points to 7552.59 The CRB Index rose 1.90 points to 193.49 The US Dollar gained 0.80 points to 117.78 The Dow advanced 52.80 points to 10088.14 The S&P 500 climbed 4.72 points to 1149.37 The Nasdaq was up 16.22 points to 1960.70 February NYMEX Crude Oil rose 1.65 to 21.27 Canadian-US Exchange added 0.0160 to 1.5935 ------------------------------------------------------------- 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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