|
|
Enron Mail |
Mime-Version: 1.0
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 Tuesday, January 22 2002? No. 466 Visit our website at: http://www.enerfaxgold.com/, PETROLEUM PRICES ??? | Bonny Light | $18.27 | Brent | $18.14 | Butane | $ 0.36 | Fuel Oil #2 | $ 0.52 | Louisiana | $18.40 | Medit. | $17.19 | Propane Non-tet | $ 0.28 | Propane Wet-tet | $ 0.29 | W. Tx Int Cush | $18.03 | W. Tx Sour | $16.45 | Euro in US equiv | 0.8844 ------------------------------------------------------------- Todays Petro Bulletins * Baker Hughes Says Rigs Searching for Oil and Natural Gas in US Up 13 to 869 Last Week, Compared to 1128 Year Ago; Canada Up 10 to 437, Compared to 561 Year Ago; Gulf of Mexico Up 6 to 122 Compared to 176 Year Ago * British Energy Minister Against Takeover of Enterprise Oil * Court Overturns Approval of AEP and Central and South West Merger * DEPI to Acquire Oil and Gas Service Provider * Diamond Offshore Drilling Declares Cash Dividend of $0.125 per Common Share * China 2001 Crude Oil Imports 60.3 Million Tons, Down 14% * Oil Prices Creep Higher Monday Morning in Effort to Reverse 2-Week Slump * France Signs Up for Egyptian Natural Gas Exports ------------------------------------------------------------- NYMEX - NY Harbor Heating Oil? ? ? ? ? ? Month ??High ??Low? ? Last ? Change FEB 02 0.5290 0.5125 0.5141 -0.0004 MAR 02 0.5315 0.5150 0.5166 -0.0014 APR 02 0.5295 0.5170 0.5181 -0.0019 MAY 02 0.5295 0.5225 0.5196 -0.0019 JUN 02 0.5370 0.5250 0.5236 -0.0029 JUL 02 0.5430 0.5290 0.5291 -0.0034 AUG 02 0.5500 0.5500 0.5366 -0.0034 SEP 02 0.5590 0.5500 0.5456 -0.0034 OCT 02 0.5680 0.5580 0.5546 -0.0034 NOV 02 0.5765 0.5660 0.5626 -0.0034 ------------------------------------------------------------- NYMEX Crude Oil Futures ($ / Barrel) Month ?Open ?High ??Low ?Last Change FEB 02 18.03 18.50 17.90 18.00 +0.03 MAR 02 18.65 19.14 18.52 18.66 +0.03 APR 02 19.25 19.50 18.95 19.06 +0.03 MAY 02 19.32 19.70 19.20 19.30 +0.03 JUN 02 19.47 19.82 19.40 19.48 +0.03 JUL 02 19.55 19.63 19.50 19.56 +0.04 AUG 02 19.95 19.95 19.57 19.63 +0.04 SEP 02 19.80 19.85 19.80 19.69 +0.05 OCT 02 19.69 19.69 19.69 19.74 +0.05 NOV 02 20.05 20.05 19.80 19.80 +0.06 ------------------------------------------------------------- Crude Oil Futures Inch Upward Crude oil futures for February delivery on the NYMEX inched upward by $0.03 to $18.00 per barrel in an abbreviated session on Friday. The IEA reported that OPEC exports moved closer to the cartels limits. According to the agency, the cartels total production, including Iraq, dropped from 26.04 million bpd in November to 25.65 million bpd for December. However, excluding Iraq, the other 10 members of OPEC increased their December production by 380,000 bpd to 23.65 million bpd, still above its self-imposed limits of 23.2 million bpd. The IEA said that global oil demand rose 100,000 bpd last year, the smallest rise since 1985. For 2002, the agency projects a 600,000 bpd increase in oil consumption, assuming an economic recovery has begun by mid-year. In the US, inventories are at their highest levels in over 2 years as the peak heating oil season slips into spring. OPECs latest production cut on January 1st has yet to be felt in the US and there are many concerns about the degree to which exports have been reduced. The IEA says that the implementation of the production cut commitments have the potential to support crude prices and set the stage for later price gains. A draw in oil stocks should deepen in the 1st quarter because of the cuts, and an expected seasonal build in the 2nd quarter should be less than previously expected, the IEA said. Heating oil futures for February delivery on the NYMEX gained $0.0004 to $0.5141 per gallon. February gasoline futures on the NYMEX rose $0.0031 to $0.5392 per gallon. In London, Brent crude oil futures for March delivery on the IPE were up $0.04 to $18.45 per barrel. ------------------------------------------------------------- ?????????????????????? NYMEX Henry Hub Natural Gas Futures 12 Month Strip ?2.5336 -0.0053 ? ? ? 18 Month Strip ?2.6575 +0.0048 ? ? | Month | High | Low | Close | Change | | FEB | 2.274 | 2.210 | 2.236 | -0.018 | | MAR | 2.270 | 2.210 | 2.236 | -0.018 | | APR | 2.290 | 2.255 | 2.279 | -0.012 | | MAY | 2.360 | 2.330 | 2.352 | -0.007 | | JUN | 2.430 | 2.400 | 2.412 | -0.007 | | JUL | 2.500 | 2.475 | 2.480 | -0.009 | | AUG | 2.540 | 2.520 | 2.526 | -0.009 | | SEP | 2.545 | 2.515 | 2.529 | -0.007 | | OCT | 2.570 | 2.535 | 2.552 | -0.005 | | NOV | 2.790 | 2.755 | 2.772 | +0.005 | | DEC | 2.990 | 2.945 | 2.972 | +0.010 | | JAN | 3.065 | 3.040 | 3.057 | +0.013 | ------------------------------------------------------------- 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 ------------------------------------------------------------- California Nears Deadline to Remove MTBE from Gasoline California has until the end of this year to remove MTBE from gasoline and replace it with ethanol. But state officials are worried they won't meet the deadline and that could drive up gasoline prices. The delay could also prove a problem for the governor. In early 1999, he declared MTBE a threat because studies showed it was leaking into the state's groundwater. He ordered it banned by the end of 2002, in favor of ethanol, which is made from corn. But three years later, MTBE is still in use in the state's reformulated gasoline. The gasoline additive problem has parallels to last year's energy crisis. Davis faces several infrastructure obstacles to getting ethanol-based fuel in California. Last year, US ethanol production was more than 1.8 billion gallons. California will need nearly 950 million gallons per year, requiring a production increase. That increase would necessitate production and transportation upgrades for the ethanol plants, which are behind schedule in making the changes. It also requires an estimated $100 million in new equipment and refineries in California. A lack of rail transport could also contribute to supply problems, making gasoline prices rise as much as $0.50 per gallon. ------------------------------------------------------------- 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 ------------------------------------------------------------- Book Predicts Imminent Decline of World Oil Supplies Even though the world is now experiencing what appears to be an overabundance of oil, with lowered demand and brimming inventories, a new book "Hubbert's Peak: The Impending World Oil Shortage" advances the idea that crude oil supplies will peak within the next 7 years, then slowly begin to dwindle. The book contends that the world will not be prepared to deal with the situation when the peak in production occurs. The book says several events could zap supplies and create an energy crisis, including a big war in the Middle East. It points out that while there still may be a few huge oilfields left to discover, most have, or will shortly reach their maximum output level and begin to dry up. According to the book, most new discoveries since 1975 have been mediocre. The book is based on theories by a geologist who accurately predicted in the mid 1950s that US crude production would reach its zenith in 1970. The US now depends on imports for over half of its crude consumption. Critics of the theory do not argue with the eventual outcome, but they do argue that the timetable is too severe. They acknowledge that there will be a day when the world's oil output will start to shrivel, but point out that improved technologies and economies will delay the decline. Many believe that there is still sufficient oil supply in the Middle East, but Western powers have imposed economic sanctions that have restricted its production. In addition, new technologies being developed will decrease demand, expanding the timetable for the deterioration of oil supplies. Detractors point to the increased usage of natural gas, development of fuel cells, conservation, new methods that allow oil sands mining as well as solar, wind and geothermal technologies will diminish dependence upon oil as a fuel. ------------------------------------------------------------- ??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 ????? ------------------------------------------------------------- Refiners to Begin Seasonal Maintenance Early Poor refining margins and sizable gasoline imports expected from Europe have prompted some US refiners to begin planned 1st quarter maintenance earlier than usual this year. The shut down of refineries for retooling could mean that gasoline stocks may not build as fast as usual in the near future, but plants should be ready to produce at high levels leading into the peak summer driving season. Summer gasoline prices will likely be less than the last 2 years, but the seasonal rise in gasoline demand should cause retail prices to rise above current levels. Valero has announced an ambitious schedule for planned maintenance at half of its refineries. Orion, ChevronTexaco, Citgo, Premcor, and Crown Central all have gasoline units down for maintenance which are expected to return to operation in February. ChevronTexaco's 295,000 bpd Pascagoula, MS refinery and Citgo's 310,000 bpd Lake Charles, LA refinery are expected to close their gasoline units for scheduled maintenance sometime in the first quarter. Venezuela's state oil company will shutdown a 108,000 bpd gasoline unit in early February. The scheduled maintenance is not expected to produce the restricted supply that the nation experienced last year when gasoline futures hit a record of $1.17 per gallon in May. Gasoline demand has been unexpectedly heavy recently, spurred on by low prices, a decrease in flying since September 11th and record sales late last year for SUVs. However, isolated markets in the Midwest and California, where a lack of pipeline capacity and heavy environmental controls on gasoline limit supply options, could see prices spike. ------------------------------------------------------------- IPE-Brent Crude futures (US $/barrel) Month ?First ?High ?Low ??Sett ?Chg MAR 02 18.80 18.80 18.30 18.45 +0.40 APR 02 18.80 18.99 18.50 18.64 +0.06 MAY 02 18.92 19.07 18.65 18.79 -0.02 JUN 02 18.97 19.07 18.74 18.82 +0.15 JUL 02 19.00 19.00 18.84 18.88 -0.18 AUG 02 19.04 19.10 18.93 18.93 -0.30 SEP 02 19.08 19.08 18.98 18.98 +0.00 OCT 02 19.10 19.10 19.03 19.03 +0.00 NOV 02 19.07 19.07 19.07 19.07 +0.00 DEC 02 19.21 19.30 19.09 19.11 +0.00 ------------------------------------------------------------- NYMEX-Mont Belvieu Propane Gas Futures($ / Gallon) Month ? ?High ??Low ??Last ? Change Feb 02 0.0000 0.0000 0.2875 +0.0100 Mar 02 0.0000 0.0000 0.2750 +0.0070 Apr 02 0.0000 0.0000 0.2875 +0.0075 May 02 0.0000 0.0000 0.2900 +0.0075 Jun 02 0.0000 0.0000 0.2975 +0.0075 Jul 02 0.0000 0.0000 0.3075 +0.0075 Aug 02 0.0000 0.0000 0.3125 +0.0075 Sep 02 0.0000 0.0000 0.3125 +0.0075 Oct 02 0.0000 0.0000 0.3225 +0.0075 Nov 02 0.0000 0.0000 0.3225 +0.0075 ------------------------------------------------------------- CNOOC to Purchase Repsol's Indonesian Assets CNOOC has agreed to buy the Indonesian assets of Spanish oil major Repsol-YPF for $585 million in cash, its biggest international expansion ever. The purchase will bring 360 million barrels of oil equivalent in proved net working interest reserves and add 15 ? 20 million BOE to CNOOC's annual output. Standard & Poor's estimated in a report that the acquisition would increase daily output by 17% to 356,000 BOE in 2002, and boost reserves to 1.985 billion BOE. CNOOC is now targeting 2002 output of 125 ? 130 million BOE. Its previous target was 110 million BOE. CNOOC plans to keep its annual output growth rate of 15% in the next several years, and estimates its 2001 output at 95 million BOE. For Repsol, the sale is part of its longstanding strategy of selling non-core assets to reduce its $20 billion debt. Repsol plans to cut its capitalization ratio, debt to market cap plus debt, to 30% - 35% from 47% at the end of the 3rd quarter. The acquisition will make CNOOC the largest offshore oil producer in Indonesia. It already has a presence there through a 39.5% interest in the Malacca Strait production-sharing contract. Merrill Lynch is the advisor to the acquisition. CNOOC expects its capital expenditure for 2002 to reach $1.5 ? $1.6 billion, including the purchase. ------------------------------------------------------------- IPE - ARA Gas Oil Futures $ / Tonne Month ??High ??Low ???Sett ?Change FEB 02 161.00 157.00 157.25 - 0.25 MAR 02 162.00 158.25 158.50 - 0.50 APR 02 163.25 159.75 159.75 - 0.75 MAY 02 164.50 161.25 161.25 - 0.75 JUN 02 166.50 163.00 163.00 - 0.75 JUL 02 167.25 164.75 164.75 - 0.75 AUG 02 169.00 166.50 166.50 - 0.75 SEP 02 170.50 168.25 168.25 - 0.75 OCT 02 172.25 170.00 170.00 - 0.75 NOV 02 171.25 171.25 171.25 - 0.75 ------------------------------------------------------------- NY HARBOR UNLEADED GAS FUTURES Month? ?High ? Low ???Last ??Change FEB 02 0.5485 0.5360 0.5392 +0.0031 MAR 02 0.5600 0.5490 0.5502 +0.0004 APR 02 0.6300 0.6210 0.6212 -0.0008 MAY 02 0.6400 0.6310 0.6289 -0.0009 JUN 02 0.6400 0.6325 0.6312 -0.0013 JUL 02 0.6350 0.6325 0.6274 -0.0013 AUG 02 0.6270 0.6270 0.6169 -0.0013 SEP 02 0.6100 0.6060 0.6017 -0.0141 OCT 02 0.5835 0.5835 0.5762 -0.0136 -------------------------------------------------------------- Shell Begins Production from Two New Gulf of Mexico Fields Two new sub-sea fields in the Gulf of Mexico, Crosby and Einset, have started up, according to Shell Exploration & Production. All three wells at the Crosby development, located in Mississippi Canyon Blocks 898 and 899, are online and producing 20,000 barrels of oil per day. Peak production for Crosby is expected to be 60,000 bpd and 90 MMcf per day by the end of the first quarter. Shell operates Crosby, located in 4,400 feet of water, and has a 50% interest in the project. BP owns the other 50%. Einset is currently producing at a rate of 30 MMcf per day. It is expected to recover in excess of 30 Bcf of natural gas. Peak production is expected to reach at least 60 MMcf per day. It is located in 3,500 feet of water and is a single well project located in Viosca Knoll Block 872. Shell operators Einset and holds a 50% interest. Dominion Exploration & Production holds the remaining interest. ------------------------------------------------------------- ??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 | 2.14 | | ANR SE | 2.19 | | Carthage TG | 2.16 | | Chicago Citygate | 2.22 | | Columbia Gulf Onshore | 2.23 | | Dominion South Point | 2.37 | | Henry Hub | 2.28 | | Houston Ship Channel | 2.27 | | Katy Hub | 2.16 | | NGPL LA Pool | 2.17 | | NGPL - Midcontinent | 2.11 | | NGPL STX | 2.15 | | NGPL TX/OK | 2.14 | | NNG Demarc. | 2.15 | | Niagara | 2.44 | | Sonat Tier 1 | 2.22 | | TCO IPP Pool | 2.35 | | Tetco ELa | 2.25 | | Tetco M-3 | 2.63 | | Tetco STX | 2.16 | | TGP Zone 0 | 2.15 | | TGP Zone 1 (500 Leg) | 2.20 | | TGT Zone SL | 2.24 | | New York Citygate | 2.67 | | Transco Station 65 | 2.28 | | Transco Zone 6 (NY) | 2.67 | | Trunk ELa | 2.19 | | Western Region | California Border | 2.16 | | El Paso Keystone | 2.04 | | El Paso San Juan-Blanco | 2.03 | | Waha Hub | 2.08 | | Canadian/Rockies Region | Nova/Aeco (C$/gig) | 2.92 | | Dawn Hub/Union | 2.28 | | Northwest Stanfield | 2.05 | | Wyoming Pool | 1.98 | | Opal | 1.99 | | PGT-Malin | 2.12 | | Sumas | 2.04 | Flow Dates 1/19-22 ------------------------------------------------------------- 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 slid 47.92 points to 7604.79 The CRB Index dropped 1.84 points to 190.07 The US Dollar decreased 0.41 points to 117.51 The Dow declined 78.19 points to 9771.85 The S&P 500 fell 11.301 points to 1127.58 The Nasdaq was down 55.48 points to 1930.34 February NYMEX Crude Oil rose 0.03 to 18.00 Canadian-US Exchange gained 0.0025 to 1.6132 ------------------------------------------------------------- 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/
|