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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 28 2001? No. 452 Visit our website at: http://www.enerfaxgold.com/, PETROLEUM PRICES ??? | Bonny Light | $19.95 | Brent | $19.77 | Butane | $ 0.38 | Fuel Oil #2 | $ 0.58 | Louisiana | $21.16 | Medit. | $19.40 | Propane Non-tet | $ 0.33 | Propane Wet-tet | $ 0.33 | W. Tx Int Cush | $20.90 | W. Tx Sour | $19.30 | Euro in US equiv | 0.8830 ------------------------------------------------------------- Todays Petro Bulletins * Sinopec Group's 2001 Profits Down by a Third * Ultramar Diamond Shamrock Says Fluid Catalytic Cracker at Oil Refinery Near San Francisco Up and Running Again After Delayed Restart * Spending Cuts Combined with Last Year's Record Profits Give Most Oil Companies Enough Cushion to Weather Low Price-Demand Scenario Expected for 1st Half of 2002 * Occidental Petroleum to Idle Texas Chemical Plant Because of Market Conditions * John S Herold CEO Says Upcoming Earnings Releases May Hold Nasty Surprises; Possibility of Massive Year-End Oil Industry Financial Write-Downs * Kaneb Announces 800,000-Barrel Terminal Acquisition in Portland, Oregon from ExxonMobil * Former President of Congo Republic on Trial in Absentia Charged with Treason for Allegedly Cheating Nation Out of Millions of Dollars in Oil Revenues ------------------------------------------------------------- NYMEX - NY Harbor Heating Oil? ? ? ? ? ? Month ??High ??Low? ? Last ? Change JAN 02 0.5880 0.5765 0.5815 -0.0131 FEB 02 0.5900 0.5800 0.5856 -0.0112 MAR 02 0.5870 0.5780 0.5821 -0.0092 APR 02 0.5795 0.5740 0.5756 -0.0082 MAY 02 0.5740 0.5670 0.5691 -0.0067 JUN 02 0.5745 0.5690 0.5701 -0.0062 JUL 02 0.5790 0.5725 0.5751 -0.0062 AUG 02 0.5870 0.5800 0.5816 -0.0062 SEP 02 0.5945 0.5870 0.5896 -0.0062 OCT 02 0.6025 0.5950 0.5981 -0.0062 ------------------------------------------------------------- NYMEX Crude Oil Futures ($ / Barrel) Month ?Open ?High ??Low ?Last Change FEB 02 20.65 21.00 20.33 20.90 -0.37 MAR 02 20.85 21.20 20.85 21.14 -0.31 APR 02 21.03 21.38 20.87 21.24 -0.31 MAY 02 21.15 21.33 21.10 21.34 -0.31 JUN 02 21.25 21.55 21.15 21.40 -0.32 JUL 02 21.35 21.47 21.25 21.41 -0.33 AUG 02 21.32 21.35 21.27 21.44 -0.33 SEP 02 21.50 21.50 21.45 21.47 -0.33 OCT 02 21.83 21.83 21.83 21.83 +0.00 NOV 02 21.86 21.86 21.86 21.86 +0.00 ------------------------------------------------------------- Crude Oil Futures Slip in Profit-Taking Crude oil futures for February delivery on the NYMEX slipped $0.37 to $20.90 per barrel yesterday, but remained near 6-week highs. Traders attributed the losses to some profit-taking after crude prices climbed by $1.65 per barrel on Wednesday. Speculation that OPEC members will keep pumping over their quotas also pressured the market downward. OPEC is expected to announce its 4th production cut in a year today. It is expected to cut output by 1.5 million bpd after receiving pledges from non-member producing countries to lower exports by a combined total of 462,500 bpd. However, the 10 OPEC members with quotas exceeded their quotas by 500,000 - 600,000 bpd in November. Some expect that actual output reductions from OPEC and non- members will be closer to 1.0 1.2 million bpd, which could be enough to prevent crude oil inventories from rising. The production cuts are aimed at lifting prices back into the $22 - $25 range for OPEC's basket of crudes. The IEA has forecast that world oil demand will rise next year by 600,000 bpd, about 30% below the demand growth rate over the last decade. Heating oil futures for January delivery on the NYMEX fell $0.0131 to $0.5815 per gallon. January gasoline futures on the NYMEX dipped $0.0086 to $0.5927 per gallon. In London, Brent crude oil futures for February delivery on the IPE were up $1.01 to $20.34 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 ?2.7936 -0.2366? ? ? ? 18 Month Strip ?2.9223? ? | Month | High | Low | Close | Change | | JAN | 2.750 | 2.500 | 2.555 | -0.356 | | FEB | 2.650 | 2.600 | 2.619 | -0.318 | | MAR | 2.810 | 2.550 | 2.630 | -0.287 | | APR | 2.770 | 2.560 | 2.630 | -0.242 | | MAY | 2.780 | 2.580 | 2.681 | -0.233 | | JUN | 2.890 | 2.700 | 2.740 | -0.223 | | JUL | 2.930 | 2.770 | 2.788 | -0.215 | | AUG | 2.900 | 2.790 | 2.833 | -0.208 | | SEP | 2.900 | 2.830 | 2.843 | -0.203 | | OCT | 2.930 | 2.870 | 2.878 | -0.193 | | NOV | 3.150 | 3.090 | 3.068 | -0.188 | | DEC | 3.350 | 3.250 | 3.258 | -0.173 | ------------------------------------------------------------- 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 ------------------------------------------------------------- Canadian Oil Stocks Surge Canadian oil stocks surged yesterday morning as investors welcomed apparent confirmation that OPEC would make its much predicted production cut today. The Toronto Stock Exchange oil and natural gas sub-index was up 1.89% at 9,047.34 just before noon. The jump followed Saudi Arabia's oil minister's statement that OPEC would announce a production cut of 1.5 million bpd. The Canadian markets were closed Tuesday and Wednesday for the Christmas holiday. The TSE's energy group topped the 9,000 level for the first time in more than a month. Non-OPEC exporters Russia, Mexico, Norway, Oman and Angola have together agreed to cut crude exports by 462,500 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 $/barrel) Month ?First ?High ?Low ??Sett ?Chg FEB 02 20.40 20.55 19.98 20.34 +1.01 MAR 02 20.10 20.11 19.62 20.01 +0.89 APR 02 20.05 20.10 19.64 20.01 +0.92 MAY 02 20.11 20.14 19.85 20.06 +0.89 JUN 02 20.21 20.30 19.92 20.16 +0.88 JUL 02 20.31 20.31 20.20 20.26 +0.88 AUG 02 20.32 20.32 20.32 20.32 +0.85 SEP 02 20.39 20.39 20.38 20.38 +0.82 OCT 02 20.44 20.44 20.44 20.44 +0.80 NOV 02 20.48 20.48 20.48 20.48 +0.77 ------------------------------------------------------------- NYMEX-Mont Belvieu Propane Gas Futures($ / Gallon) Month ? ?High ??Low ??Last ? Change JAN 02 0.3395 0.3305 0.3375 -0.0050 FEB 02 0.3450 0.3350 0.3375 -0.0050 MAR 02 0.3450 0.3375 0.3375 -0.0050 APR 02 0.3450 0.3450 0.3450 +0.0000 MAY 02 0.3475 0.3475 0.3475 +0.0000 JUN 02 0.3500 0.3500 0.3500 +0.0000 JUL 02 0.3550 0.3550 0.3550 +0.0000 ------------------------------------------------------------- Fitch Places Express Pipeline on Rating Watch Negative Fitch has placed the `A' rating of the $150 million 6.47% senior secured notes and the `BBB' rating of the $250 million 7.39% subordinated secured notes issued by Express Pipeline on Rating Watch Negative. The action reflects the weakened fundamentals of the US energy market and the resulting impact on the overall credit quality of the crude shippers. In addition, the financial performance of Express has been below original projections due to weakened demand in its targeted regional markets. The Express notes were issued in February 1998 to finance the construction of the Express Pipeline and to repay the costs incurred in the acquisition and upgrading of the Platte pipeline. The ability of Express to service its debt is largely dependent upon the revenues received from the pipeline transportation tariffs paid by various crude shippers under contractual off-take arrangements. Express is a wholly owned subsidiary of Alberta Energy. The Express Pipeline System consists of two main segments, the Express and Platte pipelines. The Express segment is 785 miles long beginning in Hardisty, Alberta and running to Casper, WY. The Platte segment is 932 miles long beginning in Casper and extending to Wood River, IL. ------------------------------------------------------------- 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 02 175.25 169.75 174.00 + 7.50 FEB 02 175.75 170.75 175.50 + 8.50 MAR 02 175.75 172.25 175.75 + 8.25 APR 02 176.25 175.25 176.25 + 8.25 MAY 02 177.00 174.00 177.00 + 8.50 JUN 02 178.25 174.50 178.25 + 7.75 JUL 02 179.75 179.75 179.75 + 8.50 AUG 02 181.25 179.75 181.25 + 8.25 SEP 02 183.00 180.00 183.00 + 8.50 OCT 02 184.75 184.75 184.75 + 8.75 ------------------------------------------------------------- NY HARBOR UNLEADED GAS FUTURES Month? ?High ? Low ???Last ??Change JAN 02 0.5950 0.5850 0.5927 -0.0086 FEB 02 0.6025 0.5920 0.5982 -0.0085 MAR 02 0.6120 0.6020 0.6080 -0.0080 APR 02 0.6725 0.6625 0.6680 -0.0070 MAY 02 0.6740 0.6670 0.6720 -0.0060 JUN 02 0.6740 0.6690 0.6705 -0.0060 JUL 02 0.6700 0.6520 0.6705 +0.0000 AUG 02 0.6600 0.6600 0.6615 +0.0000 SEP 02 0.6500 0.6500 0.6475 +0.0000 OCT 02 0.6275 0.6275 0.6235 +0.0000 -------------------------------------------------------------- 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! ------------------------------------------------------------- Nigeria Under Pressure to Comply with New Quotas At the OPEC meeting today in Cairo, Nigeria will likely receive intense pressure to increase compliance with its official OPEC limits. The cartel is expected to finalize an agreement to cut 1.5 million bpd from output along with almost 500,000 bpd of reductions from non-OPEC producers at the meeting. The cartels overall compliance with its self-imposed limits improved in November as the 10 members were 600,000 bpd over their limits. However, according to its own data, Nigeria pumped 300,000 bpd in excess of its quota, making it responsible for half the cheating. If OPEC cuts output by an expected 1.5 million bpd, Nigeria's new quota would be about 1.79 million bpd, necessitating a 400,000 bpd cut, or 22% from its November volumes. Nigeria's presidential adviser on energy will takeover as OPEC President on January 1st, making it even more important that it adhere to the quota. Some cartel members say that full compliance will be stressed at the meeting because they have asked non-members to make commitments and it is important for OPEC to stick to set an example. It is unlikely that OPEC members will reach full compliance during January. Sales commitments for the month have already been made and although some members like Saudi Arabia have flexibility in their contracts others would need to reduce volumes already sold. ------------------------------------------------------------- ??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? ? ? | Agua Dulce | 2.49 | | ANR SE | 2.59 | | Carthage TG | 2.52 | | Chicago Citygate | 2.65 | | Columbia Gulf Onshore | 2.60 | | Dominion South Point | 2.77 | | Henry Hub | 2.63 | | Houston Ship Channel | 2.63 | | Katy Hub | 2.54 | | NGPL LA Pool | 2.55 | | NGPL - Midcontinent | 2.47 | | NGPL STX | 2.52 | | NGPL TX/OK | 2.53 | | NNG Demarc. | 2.59 | | Niagara | 2.90 | | Sonat Tier 1 | 2.59 | | TCO IPP Pool | 2.78 | | Tetco ELa | 2.59 | | Tetco M-3 | 3.22 | | Tetco STX | 2.53 | | TGP Zone 0 | 2.52 | | TGP Zone 1 (500 Leg) | 2.58 | | TGT Zone SL | 2.64 | | New York Citygate | 3.38 | | Transco Station 65 | 2.63 | | Transco Zone 6 (NY) | 3.39 | | Trunk ELa | 2.55 | | Western Region | California Border | 2.54 | | El Paso Keystone | 2.41 | | El Paso San Juan-Blanco | 2.40 | | Waha Hub | 2.46 | | Canadian/Rockies Region | Nova/Aeco (C$/gig) | 3.52 | | Dawn Hub/Union | 2.84 | | Northwest Stanfield | 2.36 | | Wyoming Pool | 2.33 | | Opal/Kern River | 2.68 | | PGT-Malin | 2.49 | | Sumas | 2.42 | Flow date 12/28 ------------------------------------------------------------- Crude and Product Stocks Up The DOE has reported crude oil inventories rose 2.6 million barrels from prior period. Gasoline stocks fell 3.3 million barrels and distillate stocks fell 1.7 million barrels from the prior period. ------------------------------------------------------------- ?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 ------------------------------------------------------------- Russia's Oil Export Plan Leaves Loopholes Russia's 1st quarter oil export schedule makes it only appear that the country will keep a promise to cut 150,000 bpd of exports in a bid to help OPEC lift sagging crude prices. This week, it set an export schedule to export 30.9 million tonnes of its own crude and will ship 3.63 million tonnes of Kazakh and 725,000 tonnes of Azeri crude in the 1st quarter of next year. Although the schedule looks like a firm pledge to reduce exports, there is no benchmark figure to which the schedule could be compared. Russian traders say that the country's oil firms will seek ways to increase crude exports to the West because it pays more than domestic consumers. They point out that while the export schedule includes only volumes moved by the state pipeline Transneft, over 2 million tonnes per quarter bypass Transneft. There are many ways to increase officially declared 1st quarter volumes, for example, by allowing oil companies to export cargoes not shipped in November and December due to storms. It is also possible that Russian oil companies will increase oil volumes to Ukraine and Belarus refineries, where their further shipments will be hard to track. ------------------------------------------------------------- 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 ------------------------------------------------------------- OPEC Expected to Announce Production Cut Today OPEC is expected to officially announce its plan to cut up to 1.5 million bpd from exports at a meeting in Cairo today. The output cut is expected to be effective as of January 1st and last 3-6 months and is aimed at lifting prices back into the $22 - $25 range for OPECs basket of crudes. But some members of the cartel appear to be bowing to the realization that the global economy has weakened by saying that they believe $20 to $22 is a reasonable level and that $25 is not a reasonable price. The demand for oil is growing at its slowest pace since 1984, forcing OPEC and non-aligned producers to cut supplies. The IEA predicts that oil demand will grow by just 600,000 bpd, which is 30% lower than the average growth over the last decade. However, many think that OPEC will fail because of the cartels poor record of compliance to previously instituted reductions. OPEC members exceeded their quotas by 500,000 - 600,000 bpd in November. If OPEC does not stick to its self-imposed limits, there is very little incentive for producers outside the cartel to abide by their commitments. Some expect that actual output reductions from OPEC and non-members will be closer to between 1 million and 1.2 million bpd, which would be just about enough to keep stockpiles from rising. ------------------------------------------------------------ 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 97.99 points to 7650.58 The CRB Index lost 1.42 points to 192.07 The US Dollar dropped 0.29 points to 117.49 The Dow advanced 43.17 points to 10131.31 The S&P 500 climbed 7.76 points to 1157.13 The Nasdaq was up 15.72 points to 1976.42 February NYMEX Crude Oil fell 1.65 to 20.90 Canadian-US Exchange added 0.0000 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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