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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: \Kim_Watson_Mar2002\Watson, Kimberly\Deleted Items X-Origin: Watson-K X-FileName: kwatson (Non-Privileged).pst Enerfax GOLD NORTH AMERICA'S FREE? GAS, OIL, LIQUIDS & DERIVATIVES INFORMATION SOURCE Friday, January 18 2002? No. 465 Visit our website at: http://www.enerfaxgold.com/, PETROLEUM PRICES ??? | Bonny Light | $18.60 | Brent | $18.47 | Butane | $ 0.36 | Fuel Oil #2 | $ 0.51 | Louisiana | $18.20 | Medit. | $17.47 | Propane Non-tet | $ 0.28 | Propane Wet-tet | $ 0.28 | W. Tx Int Cush | $17.98 | W. Tx Sour | $16.35 | Euro in US equiv | 0.8810 ------------------------------------------------------------- Todays Petro Bulletins * Enerfax GOLD to Be Closed Monday for Martin Luther King Jr Holiday * FTC Seeks More Information on Phillips-Conoco Deal * Shell Volunteers Across the Country to Honor Martin Luther King Jr * Labor Leaders Arrested in Nigeria * NCE Petrofund Announces Purchase of $19.8 Million of Oil & Natural Gas Properties * LUKOIL Nominates Emerging Markets Guru Mark Mobius and ChevronTexaco VP Richard Matzke to Be Independent Directors * BP Cuts Crude Runs at West Coast Refineries Because of Unprofitable Refining Margins * Marathon Cuts Production 15% Across 935,000 bpd US Refining System Due to Continuing Poor Margins * PanCanadian's North Sea Buzzard Oil Discovery Third Larger than Early Estimate; Britain's Biggest Discovery in Decade * Board of Directors of the New Valero Holds First Meeting, Announces Board Changes * Kaneb Pipe Line Partners Names Jimmy Harrison New President of Pipeline System * PGS Awarded $58 Million in New Onshore and Transition Zone Contracts * Wyoming Oil & Minerals Announces Acquisition of New Frontier Energy ------------------------------------------------------------- NYMEX - NY Harbor Heating Oil? ? ? ? ? ? Month ??High ??Low? ? Last ? Change Feb 02 0.5380 0.5080 0.5145 -0.0176 Mar 02 0.5430 0.5120 0.5180 -0.0176 Apr 02 0.5410 0.5150 0.5200 -0.0166 May 02 0.5400 0.5170 0.5215 -0.0151 Jun 02 0.5455 0.5240 0.5265 -0.0146 Jul 02 0.5480 0.5290 0.5325 -0.0141 Aug 02 0.5530 0.5372 0.5400 -0.0136 Sep 02 0.5640 0.5474 0.5490 -0.0131 Oct 02 0.5630 0.5580 0.5580 -0.0131 Nov 02 0.5710 0.5650 0.5660 -0.0131 ------------------------------------------------------------- NYMEX Crude Oil Futures ($ / Barrel) Month ?Open ?High ??Low ?Last Change Feb 02 19.10 19.15 17.85 17.97 -0.89 Mar 02 19.75 19.80 18.50 18.63 -0.85 Apr 02 20.10 20.10 18.93 19.03 -0.81 May 02 20.25 20.35 19.23 19.27 -0.78 Jun 02 20.32 20.35 19.40 19.45 -0.75 Jul 02 20.30 20.30 19.52 19.52 -0.72 Aug 02 20.15 20.15 19.59 19.59 -0.68 Sep 02 20.28 20.00 19.64 19.64 -0.67 Oct 02 20.15 20.30 19.69 19.69 -0.66 Nov 02 19.90 19.90 19.74 19.74 -0.65 ------------------------------------------------------------- Crude Oil Futures Continue Downward Spiral Crude oil futures for February delivery on the NYMEX tumbled $0.89 to $17.97 per barrel yesterday, settling below $18.00 per barrel for the first time since November of 1999. The session low of $17.80 per barrel was the lowest level for front month crude since it hit an intraday low of $17.29 per barrel last November. The last 9 sessions have seen February crude futures plunge by $3.51 per barrel with an unusually mild winter slicing demand and swelling oil and products stockpiles, which were already far higher than normal as air travel nose-dived and a recession set in after the September 11th attacks. Already down 30% lower since the September attacks, prices have dropped further after the API report showed total crude and product inventories rising to their highest level since August 1999. Many doubt OPEC's ability to maintain its modest level of quota discipline after it and rival exporters agreed to cut almost 2 million bpd from the worlds supplies. Traders are concerned that if January supply figures showed that producers have not cut back as much as they promised, confidence in the agreement could quickly disintegrate. Heating oil futures for February delivery on the NYMEX fell $0.0176 to $0.5145 per gallon. February gasoline futures on the NYMEX lost $0.0224 to $0.5361 per gallon. In London, Brent crude oil futures for March delivery were down $0.62 to $18.41 per barrel. ------------------------------------------------------------- ?????????????????????? NYMEX Henry Hub Natural Gas Futures 12 Month Strip ?2.5389 -0.0781 ? ? ? 18 Month Strip ?2.6527 -0.0647 ? ? | Month | High | Low | Close | Change | | FEB | 2.274 | 2.245 | 2.254 | -0.140 | | MAR | 2.269 | 2.250 | 2.254 | -0.109 | | APR | 2.305 | 2.290 | 2.291 | -0.092 | | MAY | 2.380 | 2.380 | 2.359 | -0.087 | | JUN | 2.440 | 2.425 | 2.419 | -0.087 | | JUL | 2.500 | 2.500 | 2.489 | -0.077 | | AUG | 2.610 | 2.515 | 2.535 | -0.071 | | SEP | 2.605 | 2.520 | 2.536 | -0.063 | | OCT | 2.630 | 2.540 | 2.557 | -0.064 | | NOV | 2.815 | 2.710 | 2.767 | -0.049 | | DEC | 2.968 | 2.968 | 2.962 | -0.049 | | JAN | 3.050 | 3.050 | 3.044 | -0.049 | ------------------------------------------------------------- Allegheny Energy Supply Company, Salt River Project (SRP) and Sempra Energy Resources announce Open Season for proposed Desert Crossing Gas Storage and Transportation System. Open Season for customers interested in capacity begins Jan. 10, 2002 and extends through Feb. 8, 2002. For information, visit www.desert-crossing.com ------------------------------------------------------------- New Trinidad Oil Field Trinidad and Tobago will receive between $2.6 billion and $3.5 billion from a major oil find there by BHP Billiton. When the oil field comes on stream in 2004, BHP hopes to double current local oil production of 100,000 bpd over its life cycle which he estimates at 17 years. Minimum reserves are around 300 million barrels. BHP plans to invest $500 million over the next few years to develop the Greater Angostura field off the northeast coast. ------------------------------------------------------------- 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 ------------------------------------------------------------- Unions Urge Senate to Pass Energy Bill Several major trade unions have joined the president in urging the Senate to pass an energy bill that allows drilling in the Arctic National Wildlife Refuge. The unions favor the bill because of the large number of jobs it will create for their workers. The Senate majority leader has said the chamber, which is controlled by Democrats, will take up energy legislation later this month. Democrats favor another plan to triple the amount renewable power in use and outlaw the use of the additive MTBE in gasoline within 4 years. Some Democratic senators have vowed to prevent the bill from passing. One senator has suggested the use parliamentary procedures to prevent the Senate from even considering ANWR exploration. The presidents of the Teamsters Union and United Brotherhood of Carpenters are pushing senate leaders to pass the presidents bill in the first week of February, and have criticized the Senate for politicizing the energy legislation. A 10-year old study by the API concluded that ANWR drilling could create up to 700,000 new jobs. However, critics of drilling in the refuge put the number at a much lower 46,000 jobs and called the API study bogus. Foreign oil imports accounts for 57% of the nations supply. The 16 billion barrels of oil the Arctic refuge may hold would be enough crude to replace Iraqi exports for 70 years, according to Republicans. The energy bill passed by the Republican-controlled House would also give $33.5 billion in tax breaks and incentives to oil and coal companies. ------------------------------------------------------------- ??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 ????? ------------------------------------------------------------- Suncor 4th Quarter Profits Drop Suncor Energy has reported that earnings dropped by 77% in profit for the 4th quarter, citing higher than expected start-up costs for its oil sands expansion and falling oil and natural gas prices. Suncor's report led off what is expected to be the industry's weakest Canadian quarter in about two years. Fourth quarter profits were C$26 million, or C$0.09 per share, falling from C$111 million, or C$0.46 per share a year earlier. Cash flow fell 38% to C$133 million, from C$216 million in the 4th quarter of 2000. Revenues of C$883 million, were down 5% from C$927 million. Suncor is known for its oil sands mining and synthetic crude processing operation in Alberta. The company completed its 4-year, C$3.4 billion Project Millennium, which almost doubled production to 225,000 bpd at the end of last year. Suncor says that with Project Millennium completed, it can now focus on getting back to basics in 2002. Results were also affected by a 36% drop in refining margins, which erased net earnings at its Sunoco gasoline station division. Last week Suncor warned of a dip in profit because of cost overruns associated with its oil sand expansion. Oil sands production averaged 153,000 bpd in the 4th quarter, up from 110,000 a year ago. The company expects average first-quarter output of about 200,000 bpd and full-year production of 210,000 bpd. Suncor also expects cash operating costs for 2002 of C$10 to C$10.50 per barrel, it said. For 2001, net earnings rose 3% to C$388 million, or C$1.63 per share, from C$377 million, or C$1.58 per share, due to an increase in production, and higher natural gas prices and retail margins earlier in the year. ------------------------------------------------------------- IPE-Brent Crude futures (US $/barrel) Month ?First ?High ?Low ??Sett ?Chg MAR 02 19.25 19.38 18.23 18.40 -0.63 APR 02 19.40 19.50 18.44 18.58 -0.68 MAY 02 18.81 19.60 18.60 18.81 -0.58 JUN 02 19.60 19.60 18.63 18.67 -0.74 JUL 02 19.57 19.57 18.90 19.06 -0.40 AUG 02 19.60 19.60 19.23 19.23 -0.28 SEP 02 00.00 00.00 00.00 00.00 +0.00 OCT 02 00.00 00.00 00.00 00.00 +0.00 NOV 02 00.00 00.00 00.00 00.00 +0.00 DEC 02 00.00 00.00 00.00 00.00 +0.00 ------------------------------------------------------------- NYMEX-Mont Belvieu Propane Gas Futures($ / Gallon) Month ? ?High ??Low ??Last ? Change Feb 02 0.0000 0.0000 0.2775 +0.0000 Mar 02 0.0000 0.0000 0.2780 +0.0020 Apr 02 0.0000 0.0000 0.2800 +0.0000 May 02 0.0000 0.0000 0.2825 +0.0000 Jun 02 0.0000 0.0000 0.2900 +0.0000 Jul 02 0.0000 0.0000 0.3000 +0.0000 Aug 02 0.0000 0.0000 0.3050 +0.0000 Sep 02 0.0000 0.0000 0.3050 +0.0000 Oct 02 0.0000 0.0000 0.3150 +0.0000 Nov 02 0.0000 0.0000 0.3150 +0.0000 ------------------------------------------------------------- Kinder Morgan Beats 4th Quarter and Yearly Estimates Kinder Morgan has posted a 4th quarter net income of $72.4 million, or $0.60 per share, beating the forecast for earnings of $0.55 per share. In 2000, it had earnings of $55.3 million, or $0.43 per share. However, total operating profits slid to $288.6 million from $905.7 million in the 4th quarter of 2000. The company said earnings were due to KMI's ownership of the general partner of Kinder Morgan Energy Partners, which reported 4th-quarter earnings of $120.7 million, or $0.40 per unit, easily beating the forecast for earnings of $0.39 per unit The partnership made $77.1 million, or $0.34 per unit, a year ago. KMPs net income for last year was $251.9 million pretax compared to $113.3 million a year ago. ------------------------------------------------------------- IPE - ARA Gas Oil Futures $ / Tonne Month ??High ??Low ???Sett ?Change FEB 02 164.50 157.25 157.50 - 2.75 MAR 02 165.50 159.00 159.00 - 3.50 APR 02 166.75 160.50 160.50 - 3.75 MAY 02 168.00 162.00 162.00 - 3.50 JUN 02 170.00 163.75 163.75 - 3.50 JUL 02 171.00 165.50 165.50 - 3.50 AUG 02 169.50 167.25 167.25 - 3.50 SEP 02 174.00 169.00 169.00 - 3.50 OCT 02 175.50 170.75 170.75 - 3.50 NOV 02 176.25 172.00 170.00 - 3.25 ------------------------------------------------------------- NY HARBOR UNLEADED GAS FUTURES Month? ?High ? Low ???Last ??Change Feb 02 0.5620 0.5310 0.5361 -0.0224 Mar 02 0.5760 0.5470 0.5498 -0.0223 Apr 02 0.6450 0.6200 0.6220 -0.0186 May 02 0.6520 0.6298 0.6298 -0.0180 Jun 02 0.6460 0.6325 0.6325 -0.0173 Jul 02 0.6460 0.6287 0.6287 -0.0161 Aug 02 0.6240 0.6182 0.6182 -0.0151 Sep 02 0.6100 0.6017 0.6017 -0.0141 Oct 02 0.5835 0.5762 0.5762 -0.0136 Nov 02 0.5755 0.5682 0.5682 -0.0131 -------------------------------------------------------------- Enterprise Acquires Diamond-Koch's Liquid Storage Business Enterprise Products Partners has acquired a natural gas liquids and petrochemical liquids storage business from Diamond-Koch for $129 million in cash. The storage facilities consist of 30 salt dome storage caverns with a total permitted capacity of 77 million barrels. The facilities provide storage services for mixed natural gas liquids, ethane, propane, butanes, natural gasoline and olefins, such as ethylene, polymer grade propylene, chemical grade propylene and refinery grade propylene. The caverns are located in Mont Belvieu, Texas. The acquisition should provide annual cash accretion to our partners of $0.12 per unit on a fully diluted basis. ------------------------------------------------------------- ??ENERGY. @ENERGY(r), FEA's Complete Suite of Energy Products, BUILT FOR THE FUTURE. *Manage all your energy risks. *Build and Price deals. *Value physical assets (generation, storage, etc.) *Report and reduce your energy risks FEA FINANCIAL ENGINEERING ASSOCIATES Inc. http://www.fea.com/?cId=17 main phone number:? 1 510-548-6200 email address: info@fea.com ------------------------------------------------------------- PHYSICAL GAS PRICES? ? ? Gulf/Eastern Region | Agua Dulce | 2.29 | | ANR SE | 2.36 | | Carthage TG | 2.34 | | Chicago Citygate | 2.38 | | Columbia Gulf Onshore | 2.36 | | Dominion South Point | 2.54 | | Henry Hub | 2.41 | | Houston Ship Channel | 2.40 | | Katy Hub | 2.34 | | NGPL LA Pool | 2.35 | | NGPL - Midcontinent | 2.28 | | NGPL STX | 2.30 | | NGPL TX/OK | 2.32 | | NNG Demarc. | 2.34 | | Niagara | 2.60 | | Sonat Tier 1 | 2.36 | | TCO IPP Pool | 2.50 | | Tetco ELa | 2.40 | | Tetco M-3 | 2.84 | | Tetco STX | 2.32 | | TGP Zone 0 | 2.30 | | TGP Zone 1 (500 Leg) | 2.36 | | TGT Zone SL | 2.37 | | New York Citygate | 2.97 | | Transco Station 65 | 2.42 | | Transco Zone 6 (NY) | 2.97 | | Trunk ELa | 2.34 | | Western Region | California Border | 2.35 | | El Paso Keystone | 2.25 | | El Paso San Juan-Blanco | 2.22 | | Waha Hub | 2.28 | | Canadian/Rockies Region | Nova/Aeco (C$/gig) | 3.02 | | Dawn Hub/Union | 2.43 | | Northwest Stanfield | 2.20 | | Wyoming Pool | 2.15 | | Opal | 2.15 | | PGT-Malin | 2.27 | | Sumas | 2.21 | Flow Date 1/18 ------------------------------------------------------------- Oil Service and Integrated Shares Rise The Philadelphia Oil Service Index gained 0.3% to 75.77 yesterday after falling by 4% a day earlier. Within the index, Nabors Industries shares were up $0.17 to $27.77 and shares of Transocean Sedco Forex rose $0.13 to $28.18. The CBOE Oil Index of integrated oil stocks, closed up 0.1% to290.07. ChevronTexaco climbed $0.15 to $87.40 while ExxonMobil added $0.16 to $38.64. US traded shares of BP increased $0.29 to $44.84. ------------------------------------------------------------- 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 gained 68.69 points to 7652.71 The CRB Index dropped 2.41 points to 1991.91 The US Dollar increased 0.36 points to 117.92 The Dow advanced 137.77 points to 9850.04 The S&P 500 climbed 11.31 points to 1138.88 The Nasdaq was up 41.38 points to 1985.82 February NYMEX Crude Oil fell 0.89 to 17.97 Canadian-US Exchange rose 0.0060 to 1.6107 ------------------------------------------------------------- Please Welcome Our Advertisers by Visiting These Websites! http://www.fea.com/ http://www.kwi.com/ http://www.desert-crossing.com To subscribe write enerfaxgold-subscribe@egroups.com To unsubscribe write enerfaxgold-unsubscribe@egroups.com 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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