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Content-Type: text/plain; charset=ANSI_X3.4-1968 Content-Transfer-Encoding: 7bit X-From: enerfax1 <enerfax@msn.com< X-To: EnerfaxGOLD@yahoogroups.com X-cc: X-bcc: X-Folder: \Paul_Luchi_Jan2002_1\Lucci, Paul T.\Deleted Items X-Origin: Luchi-P X-FileName: plucci (Non-Privileged).pst Enerfax GOLD NORTH AMERICA'S FREE? GAS, OIL, LIQUIDS & DERIVATIVES INFORMATION SOURCE Friday, December 21 2001? No. 449 Visit our website at: http://www.enerfaxgold.com/, PETROLEUM PRICES ??? | Bonny Light | $18.97 | Brent | $18.83 | Butane | $ 0.36 | Fuel Oil #2 | $ 0.54 | Louisiana | $18.80 | Medit. | $18.46 | Propane Non-tet | $ 0.30 | Propane Wet-tet | $ 0.30 | W. Tx Int Cush | $18.68 | W. Tx Sour | $17.05 | Euro in US equiv | 0.9008 ------------------------------------------------------------- Todays Petro Bulletins * US Petroleum Corporation Completes Acquisitions of: North Okemah Hunton Prospect; Philadelphia Creek Prospect; Deep Oil and Natural Gas Rights on Cook Ranch; and Deep Oil and Natural Gas Rights Under Nuyaka, Oklahoma * European Commission Approves 2 Separate Deals; One by BP and Other by Shell Involving Major Petrochemical Pipelines in Western Europe * ChevronTexaco to Run Nigerian NNPC Petrol Stations * Maynard Oil Still in Talks with Potential Buyers * Internal Revenue Service Issues Favorable Tax Ruling on Canadian Pacific Spin-Off and Exchange for Shares in PanCanadian Energy Corporation * Puma Energy Acquires Ramani Field Rights; Azeri Joint Venture Definitive Agreement Signed * Fox Energy Completes Sale of Oil and Natural Gas Properties ------------------------------------------------------------- NYMEX - NY Harbor Heating Oil? ? ? ? ? ? Month ??High ??Low? ? Last ? Change JAN 02 0.5770 0.5440 0.5449 -0.0164 FEB 02 0.5825 0.5500 0.5516 -0.0163 MAR 02 0.5780 0.5490 0.5501 -0.0168 APR 02 0.5715 0.5490 0.5466 -0.0158 MAY 02 0.5645 0.5460 0.5421 -0.0138 JUN 02 0.5660 0.5460 0.5431 -0.0133 JUL 02 0.5685 0.5530 0.5486 -0.0133 AUG 02 0.5730 0.5590 0.5551 -0.0133 SEP 02 0.5825 0.5700 0.5636 -0.0128 OCT 02 0.5925 0.5775 0.5721 -0.0128 ------------------------------------------------------------- NYMEX Crude Oil Futures ($ / Barrel) Month ?Open ?High ??Low ?Last Change JAN 02 19.25 19.45 19.07 19.36 -0.44 FEB 02 19.90 20.15 19.17 19.28 -0.52 MAR 02 20.20 20.40 19.48 19.57 -0.48 APR 02 20.44 20.45 19.60 19.71 -0.45 MAY 02 20.49 20.49 20.15 19.83 -0.57 JUN 02 20.55 20.65 19.90 19.94 -0.42 JUL 02 20.59 20.59 20.00 20.01 -0.42 AUG 02 20.55 20.78 20.55 20.08 -0.42 SEP 02 20.77 20.77 20.77 20.16 -0.41 OCT 02 20.35 20.85 20.75 20.24 -0.40 ------------------------------------------------------------- Crude Oil Futures Fall on Profit Taking Crude oil futures for February delivery on the NYMEX dipped $0.52 to $19.28 per barrel yesterday in some late pre-holiday profit taking. Heavy selling set in late as speculative funds bet against OPEC's ability to shore up crude prices in the face of an economic slump that has zapped demand. The sell-off occurred despite the increased likelihood that OPEC will proceed with a 1.5 million bpd reduction in exports. Oman has raised their production cut pledge from 25,000 bpd to 40,000 bpd, leaving non-OPEC producers just 37,500 bpd short of the cartels demand that they slice a combined 500,000 bpd from output. Many say that OPEC is unlikely to bicker over the relatively small shortfall. Crude prices had risen earlier in the week as colder temperatures in the Northeast lowered petroleum stockpiles. Forecasts that Northeastern temperatures will be near or below normal over the Christmas holiday provided support for the market. Gasoline and distillate inventories fell during the week of December 14th, according to data released by the EIA and API. Gasoline futures for January delivery on the NYMEX lost 0.0078 to $0.5503 per gallon. January heating oil futures on the NYMEX fell $ 0.0164 to $0.5449 per gallon. In London, Brent crude oil futures for February delivery on the IPE were down $0.34 to $19.13 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 ?2.8533 +0.0495? ? ? ? 18 Month Strip ?2.9594 +0.0482? ? ? | Month | High | Low | Close | Change | | JAN | 2.700 | 2.601 | 2.686 | +0.070 | | FEB | 2.725 | 2.665 | 2.708 | +0.058 | | MAR | 2.720 | 2.665 | 2.711 | +0.053 | | APR | 2.690 | 2.650 | 2.691 | +0.048 | | MAY | 2.760 | 2.690 | 2.741 | +0.046 | | JUN | 2.789 | 2.740 | 2.799 | +0.044 | | JUL | 2.840 | 2.790 | 2.842 | +0.044 | | AUG | 2.890 | 2.840 | 2.887 | +0.046 | | SEP | 2.880 | 2.840 | 2.892 | +0.046 | | OCT | 2.910 | 2.860 | 2.914 | +0.046 | | NOV | 3.100 | 3.020 | 3.099 | +0.046 | | DEC | 3.280 | 3.230 | 3.269 | +0.046 | ------------------------------------------------------------- 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 ------------------------------------------------------------- Conoco Acquires Statoil's Vietnamese Offshore Interests Conoco has agreed with Norway's Statoil to purchase a portion of its interests in the $1.3 billion Nam Con Son natural gas project, offshore Vietnam, raising Conoco's total acreage position in Vietnam to 6.05 million gross acres, or 3.2 million net. The purchase included Statoil's 50% interest in Block 05.3, extending over 462,000 acres. BP holds the remaining 50% percent interest. Conoco also acquired Statoil subsidiary, Statoil Vietnam, which owns a 16.33% stake of the 240 mile Nam Con Son pipeline to move natural gas to an industrial complex near Ho Chi Minh City. Other stakeholders in the pipeline are BP with 32.67%, who will turn over operatorship to 51% owner, PetroVietnam after the first 5 years of production. Natural gas delivery is scheduled to begin next year. The company currently is the largest acreage holder of any foreign energy company in Vietnam. Conoco's current total production in Vietnam is about 50,000 bpd of oil equivalent, or 10,000 bpd net, from the Rang Dong Field in Block 15-2 in the Cuu Long Basin. Added future production is expected when the Sutu Den Field in Block 15-1, also in the Cuu Long Basin, comes on-stream in late 2003. Early estimates of Sutu Den's initial future production are around 65,000 bpd. ------------------------------------------------------------- ??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 $/barrel) Month ?First ?High ?Low ??Sett ?Chg FEB 02 19.40 19.86 19.04 19.13 -0.34 MAR 02 19.22 19.78 18.78 18.82 -0.48 APR 02 19.20 19.56 18.84 18.84 ?0.46 MAY 02 19.28 19.55 18.89 18.89 -0.47 JUN 02 19.40 19.65 19.01 19.01 -0.45 JUL 02 19.50 19.74 19.11 19.11 -0.43 AUG 02 19.59 19.85 19.21 19.21 -0.43 SEP 02 19.31 19.31 19.31 19.31 -0.42 OCT 02 19.73 19.73 19.39 19.39 -0.42 NOV 02 19.79 19.79 19.46 19.46 -0.41 ------------------------------------------------------------- NYMEX-Mont Belvieu Propane Gas Futures($ / Gallon) Month ? ?High ??Low ??Last ? Change Jan 02 0.3225 0.3100 0.3150 -0.0100 Feb 02 0.3200 0.3150 0.3150 -0.0100 Mar 02 0.3275 0.3175 0.3175 -0.0100 Apr 02 0.3225 0.2950 0.3225 -0.0100 May 02 0.3275 0.3100 0.3275 -0.0100 Jun 02 0.3275 0.2900 0.3275 -0.0100 Jul 02 0.3325 0.2950 0.3325 -0.0100 Aug 02 0.3400 0.3100 0.3400 -0.0075 Sep 02 0.3500 0.3275 0.3500 -0.0100 Oct 02 0.3500 0.3275 0.3500 -0.0100 ------------------------------------------------------------- Conoco to Clean Up Oil Refinery Pollution Conoco has reached an agreement with the Justice Department to spend $95 million - $110 million on pollution control equipment at its oil refineries. The DOJ has reached similar deals with Navajo Refining and Montana Refining, subsidiaries of Holly Corp, to spend $16 million - $21 million for pollution controls at their refineries. The settlements are part of the EPA's effort to reduce air emissions from refineries. The agreement affects Conoco's refineries located in Lake Charles, Louisiana; Ponca City, Oklahoma; Commerce City, Colorado and Billings, Montana. Conoco will also pay a $1.5 million fine under the Clean Air Act and spend about $5 million on environmental projects in communities around the refineries. The new environmental projects will reduce annual emissions of nitrogen oxide by about 3,210 tons, sulfur dioxide by 4,000 tons, volatile organic compounds by 100 tons and particulate matter by 400 tons. Navajo and Montana Refining will pay a $750,000 civil penalty and spend about $1.5 million on environmental projects. The government has reached similar agreements over the past year with Motiva Enterprises, Equilon Enterprises, Deer Park Refining Limited Partnership, Marathon Ashland Petroleum, Koch Petroleum Group, BP, Amoco and Arco. ------------------------------------------------------------- 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 02 173.25 168.50 170.25 - 2.25 FEB 02 174.75 170.00 171.75 - 2.00 MAR 02 175.25 170.50 172.00 - 2.00 APR 02 175.50 171.00 172.75 - 2.00 MAY 02 175.50 171.50 173.00 - 1.75 JUN 02 176.75 172.75 174.00 - 1.25 JUL 02 177.75 175.50 175.50 - 1.25 AUG 02 179.25 177.00 177.00 - 1.25 SEP 02 180.50 178.50 178.50 - 1.25 OCT 02 181.75 180.00 180.00 - 1.00 ------------------------------------------------------------- NY HARBOR UNLEADED GAS FUTURES Month? ?High ? Low ???Last ??Change JAN 02 0.5740 0.5450 0.5503 -0.0078 FEB 02 0.5820 0.5540 0.5567 -0.0109 MAR 02 0.5910 0.5685 0.5697 -0.0091 APR 02 0.6500 0.6305 0.6300 -0.0088 MAY 02 0.6550 0.6310 0.6345 -0.0085 JUN 02 0.6540 0.6370 0.6345 -0.0085 JUL 02 0.6420 0.6420 0.6420 -0.0080 AUG 02 0.6350 0.6350 0.6310 -0.0069 SEP 02 0.6185 0.6185 0.6185 -0.0059 OCT 02 0.5960 0.5960 0.5960 -0.0060 ------------------------------------------------------------- Oman Paves Way for OPEC Cut An announcement by Oman that it will increase its production cut commitment from 25,000 bpd to 40,000 bpd, seemingly assures that OPEC will proceed with a plan to remove 2 million bpd from the world oil market as of January 1st in order to support sagging crude oil prices. OPEC members have said they will cut exports by 1.5 million bpd, but only on the condition that non-aligned producing countries also reduce production by 500,000 bpd. Oman's announcement raises the non-member total to 462,500 bpd. Insiders say that OPEC would be unlikely to quibble over the shortfall. The average price for the cartels basket of crudes was $17.80 on Wednesday, far below their target range of $22 $28 per barrel. OPEC's official quota is 23.2 million bpd, but the cartels members have yet to reach compliance with the quota since it went into effect on September 1st. ------------------------------------------------------------- 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! ------------------------------------------------------------- Iraq to Renew Oil Agreement with Jordan Iraq's Oil Minister says there was no obstacle to renewing its annual oil agreement with Jordan. The minister of the 2 countries met to renew the annual oil agreement with Iraq worth more than $700 million. Iraq has agreed to supply Jordan with 5.5 million tonnes of crude oil and petroleum products next year. Jordan's oil purchases from Iraq are exempted from UN sanctions. Earlier this month, Jordan said it was seeking bids from foreign firms to build a pipeline to transport Iraqi crude to its sole refinery that would replace the current cumbersome export of crude by trucks. It is planned that the $350 million pipeline will extend from the Iraqi pumping station in Haditha, 160 miles northwest of Baghdad to Jordan's refinery of Zarga, northeast of Amman. ------------------------------------------------------------- ??ENERGY. @ENERGY(r), FEA's Complete Suite of Energy Products, BUILT FOR THE FUTURE. *Manage all your energy risks. *Build and Price deals. *Value physical assets (generation, storage, etc.) *Report and reduce your energy risks FEA FINANCIAL ENGINEERING ASSOCIATES Inc. http://www.fea.com/?cId=14 main phone number:? 1 510-548-6200 email address: info@fea.com ------------------------------------------------------------- PHYSICAL GAS PRICES? ? ? Gulf/Eastern Region | Agua Dulce | 2.45 | | ANR SE | 2.52 | | Carthage TG | 2.53 | | Chicago Citygate | 2.44 | | Columbia Gulf Onshore | 2.56 | | Dominion South Point | 2.71 | | Henry Hub | 2.60 | | Houston Ship Channel | 2.58 | | Katy Hub | 2.52 | | NGPL LA Pool | 2.50 | | NGPL - Midcontinent | 2.38 | | NGPL STX | 2.45 | | NGPL TX/OK | 2.49 | | NNG Demarc. | 2.43 | | Niagara | 2.75 | | Sonat Tier 1 | 2.52 | | TCO IPP Pool | 2.69 | | Tetco ELa | 2.54 | | Tetco M-3 | 3.00 | | Tetco STX | 2.48 | | TGP Zone 0 | 2.46 | | TGP Zone 1 (500 Leg) | 2.53 | | TGT Zone SL | 2.58 | | New York Citygate | 3.00 | | Transco Station 65 | 2.62 | | Transco Zone 6 (NY) | 3.00 | | Trunk ELa | 2.50 | | Western Region | California Border | 2.54 | | El Paso Keystone | 2.39 | | El Paso San Juan-Blanco | 2.39 | | Waha Hub | 2.46 | | Canadian/Rockies Region | Nova/Aeco (C$/gig) | 3.40 | | Dawn Hub/Union | 2.73 | | Northwest Stanfield | 2.45 | | Wyoming Pool | 2.30 | | Opal/Kern River | 2.30 | | PGT-Malin | 2.55 | | Sumas | 2.48 | Flow Date 12/21 ------------------------------------------------------------- Korean Refinery Utilizes ExxonMobil Sulfur Removing Process ExxonMobil Research and Engineering has announced the license and successful startup of SCANfining, ExxonMobil's proprietary gasoline sulfur reduction process, at LG-Caltex's Yosu, Korea refinery. SCANfining selectively removes sulfur from catalytically cracked naphtha with little octane loss. SCANfining, which uses a proprietary, selective catalyst, RT 225, jointly developed by EMRE and Akzo Nobel Catalysts, reduces the loss of octane-rich olefins and hydrogen consumption. The LG-Caltex SCANfining unit processes 20,000 bpd of catalytic naphtha. SCANfining was retrofitted into an existing naphtha hydrotreater, requiring minimal capital investment. The retrofitting was accomplished in 2 months. LG-Caltex, a joint venture between the Koreas LG Group and ChevronTexaco, is one of Korea's largest oil refiners and petrochemical producers, with a refinery capacity of 650,000 bpd of crude oil. ------------------------------------------------------------ ?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 ------------------------------------------------------------- Enbridge Take Control of Frontier Pipeline Enbridge has increased its stake in Frontier Pipeline. It is now the majority owner of the pipeline used to transport crude oil to the Salt Lake City area. Enbridge will pay $28.9 million to BP Pipelines for an additional 34% stake in Frontier, increasing its ownership share to just under 78%. Anschutz holds the remaining 22%. The 16- inch pipeline runs to the Utah border from Casper, Wyoming, and has a capacity of 65,000 bpd, most of which is destined for refineries near Salt Lake City. ------------------------------------------------------------- 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 -------------------------------------------------------------- FINANCIAL SUMMARY The TSE 300 dipped 46.12 points to 7454.97 The CRB Index rose 0.48 points to 190.15 The US Dollar tumbled 0.13 points to 115.62 The Dow declined 85.31 points to 9985.18 The S&P 500 fell 9.63 points to 1139.93 The Nasdaq was down 64.35 points to 1918.54 February NYMEX Crude Oil lost 0.52 to 19.28 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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