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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\E-mail Bin X-Origin: Watson-K X-FileName: kwatson (Non-Privileged).pst Enerfax GOLD NORTH AMERICA'S FREE? GAS, OIL, LIQUIDS & DERIVATIVES INFORMATION SOURCE Thursday, January 31 2002? No. 473 Visit our website at: http://www.enerfaxgold.com PETROLEUM PRICES ??? | Bonny Light | $18.79 | Brent | $18.66 | Butane | $ 0.35 | Fuel Oil #2 | $ 0.50 | Louisiana | $18.79 | Medit. | $16.86 | Propane Non-tet | $ 0.29 | Propane Wet-tet | $ 0.29 | W. Tx Int Cush | $18.61 | W. Tx Sour | $18.66 | Euro in US equiv | 0.8614 ------------------------------------------------------------- Todays Petro Bulletins * PetroChina Cut 16,600 Jobs in 2001 * Enbridge 4th Quarter Operating Profit Rose Due to Big Acquisition, But Net Earnings Fell 33% After Prior-Year Gain from Income Tax Reductions * Murphy Oil 4th Quarter Profits and Revenues Fall Sharply with Energy Prices * Valero Energy Shuts Down 141,000 bpd Wilmington Refinery Near Los Angeles Due to Instrumentation Problem; To Be Restarted by Tomorrow * BP to Shutdown 218,000 bpd Crude Distillation Unit at Texas City Refinery Until March 10th for Planned Maintenance * BP to Shutdown 200,000 bpd Crude Distillation Unit and 85,000 bpd Reformer Unit at Whiting, Indiana Refinery for Planned Maintenance in February * ChevronTexaco Board to Meet, But Mum on Bid Report * US Cash Crudes Lower on Inventory Build ------------------------------------------------------------- ENERGY MANAGEMENT INSTITUTE Higher Education for refined product professionals NOW ENROLLING RISK MANAGEMENT COURSES: PROFESSIONAL GASOLINE AND DISTILLATE MANAGEMENT, PETROLEUM MARKETER, and ADVANCED GASOLINE AND DISTILLATE MASTER LEVEL. REGISTER NOW, CLASS SIZES ARE LIMITED. SEE COMPLETE DETAILS CLICK HERE: http://www.energyinstitution.org -------------------------------------------------------------- NYMEX - NY Harbor Heating Oil? ? ? ? ? ? Month ??High ??Low? ? Last ? Change Feb 02 0.5110 0.4990 0.5091 -0.0114 Mar 02 0.5140 0.5010 0.5131 -0.0090 Apr 02 0.5180 0.5075 0.5171 -0.0080 May 02 0.5230 0.5110 0.5216 -0.0065 Jun 02 0.5290 0.5170 0.5271 -0.0055 Jul 02 0.5340 0.5260 0.5336 -0.0050 Aug 02 0.5450 0.5350 0.5421 -0.0045 Sep 02 0.5540 0.5445 0.5511 -0.0045 Oct 02 0.5630 0.5550 0.5606 -0.0040 Nov 02 0.5720 0.5625 0.5691 -0.0035 ------------------------------------------------------------- NYMEX Crude Oil Futures ($ / Barrel) Month ?Open ?High ??Low ?Last Change Mar 02 18.95 19.10 18.56 19.08 -0.50 Apr 02 19.30 19.48 19.00 19.44 -0.47 May 02 19.50 19.70 19.25 19.69 -0.39 Jun 02 19.60 19.89 19.50 19.86 -0.33 Jul 02 19.65 19.95 19.65 19.94 -0.28 Aug 02 19.95 19.99 19.75 19.99 -0.25 Sep 02 19.95 20.12 19.80 20.04 -0.21 Oct 02 19.92 20.08 19.92 20.08 -0.19 Nov 02 19.94 20.12 19.94 20.12 -0.17 Dec 02 20.00 20.16 19.90 20.16 -0.15 ------------------------------------------------------------- Crude Oil Futures Dip as Inventories Rise Crude oil futures for March delivery on the NYMEX dipped $0.50 to $19.08 per barrel yesterday after weekly inventory reports said that inventories were continuing to grow, in spite of an output cut by major oil producing countries. While the API said crude supplies increased by 27,000 barrels, the API reported a much steeper 2.1 million barrel rise. The API said that gasoline inventories climbed by 2.74 million barrels and EIA data indicated a 2.6 million barrel increase. But the implied demand for gasoline remained unchanged. Distillate stocks fell by 200,000 barrels according to the EIA and by 150,000 barrels in API data. Implied demand for distillates dropped from 4.12 million barrels to 3.85 million barrels last week. The API said that refinery usage dropped to 85.8% from 89.4%, while the EIA pegged it at 86.8%. Traders are still watching OPEC and non-cartel producers who committed to cut almost 2 million bpd from supplies on January 1st. It may take a few more weeks before the reductions have an impact in the US and there have been conflicting reports of compliance by the producers. Heating oil futures for February delivery on the NYMEX tumbled $0.0114 to $0.5091 per gallon. February gasoline futures on the NYMEX fell $0.0138 to $0.5531 per gallon. In London, Brent crude oil futures for March delivery on the IPE were down $0.45 to $18.79 per barrel. ------------------------------------------------------------- ???????????????????? NYMEX Henry Hub Natural Gas Futures 12 Month Strip ?2.5057 ? ? ? 18 Month Strip ?2.6197 ? ? | Month | High | Low | Close | Change | | MAR | 2.115 | 2.030 | 2.080 | +0.013 | | APR | 2.180 | 2.100 | 2.147 | -0.003 | | MAY | 2.260 | 2.200 | 2.230 | -0.010 | | JUN | 2.340 | 2.290 | 2.310 | -0.010 | | JUL | 2.420 | 2.350 | 2.380 | -0.013 | | AUG | 2.465 | 2.410 | 2.440 | -0.013 | | SEP | 2.470 | 2.435 | 2.440 | -0.018 | | OCT | 2.490 | 2.450 | 2.466 | -0.022 | | NOV | 2.725 | 2.694 | 2.694 | -0.024 | | DEC | 2.940 | 2.900 | 2.909 | -0.024 | | JAN | 3.030 | 3.000 | 3.007 | -0.024 | | FEB | 3.010 | 2.965 | 2.965 | -0.026 | ------------------------------------------------------------- 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 http://www.desert-crossing.com ------------------------------------------------------------- President Pushes for ANWR Drilling in State of Union Speech In the annual State of the Union address, President Bush called for immediate passage of a National Energy Plan that would create jobs for hundreds of thousands of unemployed Americans and decrease dependence on foreign oil. The President's comments were directed at the Senate where energy legislation is currently stalled. During one- half of the speech, the President spoke to economic issues facing the country and made specific inference that developing domestic resources for energy was a matter of both national security and economic recovery. Supporters of opening the coastal plain of the Arctic National Wildlife Refuge say that the President's remarks are indicate that safe and responsible ANWR development could double the current domestic supply of oil and help stimulate the economy through job creation. The president made a strong statement in a bipartisan fashion that included support for domestic energy. The presence of president of the International Brotherhood of Teamsters, which supports the president's ANWR efforts, illustrated the importance President Bush places on ANWR and jobs. The president enhanced bipartisan support by demanding environmental protection. No areas in the US are equal to ANWR in their oil potential and environmental safeguards. The US Geological Survey reports that beneath the 1.5 million-acre tract in Alaska's Coastal Plain is upwards of 16 billion barrels of recoverable oil. The 2,000 acres of the ANWR designated for exploration could replace Iraqi imports for the next 70 years, create hundreds of thousands of jobs nationwide and help promote national security. ------------------------------------------------------------- ??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 ????? ------------------------------------------------------------- Phillips and Conoco Merger Could Be Blocked Phillips and Conoco could face an unwelcome hurdle in their planned $26.2 billion merger in the form of a competing bid from ChevronTexaco and/or others. The deal could be susceptible to intervention because Conoco shareholders would get little or no premium. Conoco investors will get 0.4677 of a share in the new company for each of their shares. Phillips investors will receive a one-on-one swap. A competing offer could lead to a bidding war, since oil and natural gas prices are depressed. It seems that Conoco could be an easier target for ChevronTexaco because a bid for Phillips large refining interests on the West Coast may raise antitrust concerns. Shell, which has been seeking to expand their natural gas assets in North America could also be interested in Conoco. Conoco increased its natural gas reserves and production by 50% through its acquisition of Gulf Canada Resources last July. But, acquisition of Phillips could be more attractive to TotalFinaElf and would present no antitrust difficulties because it has no oil refinery operations in the US. However, competing bidders could find themselves put off by a poison pill buried in the Phillips/Conoco deal. The companies included a $550 million breakup fee if either company terminates the deal. However, that can be overcome if both are bought. Also, Phillips and Conoco tied up the industry's top 6 advisers, reducing the number of potential advisers available to other bidders and providing themselves with some high powered ammunition to fight a hostile bid. ------------------------------------------------------------- IPE-Brent Crude futures (US $/barrel) Month ?First ?High ?Low ??Sett ?Chg MAR 02 18.93 19.05 18.38 18.79 -0.45 APR 02 19.16 19.27 18.64 19.02 -0.43 MAY 02 19.29 19.37 18.75 19.13 -0.41 JUN 02 19.30 19.30 18.72 19.08 -0.37 JUL 02 19.29 19.29 18.79 19.12 -0.34 AUG 02 19.28 19.28 19.06 19.19 -0.30 SEP 02 19.15 19.25 19.00 19.25 -0.27 OCT 02 19.30 19.30 19.30 19.30 -0.25 NOV 02 19.34 19.34 19.34 19.34 -0.24 DEC 02 19.48 19.48 19.08 19.38 -0.23 ------------------------------------------------------------- NYMEX-Mont Belvieu Propane Gas Futures($ / Gallon) Month ? ?High ??Low ??Last ? Change Feb 02 0.0000 0.0000 0.2850 -0.0065 Mar 02 0.0000 0.0000 0.2850 -0.0040 Apr 02 0.0000 0.0000 0.2875 -0.0035 May 02 0.0000 0.0000 0.2900 -0.0035 Jun 02 0.0000 0.0000 0.2975 -0.0025 Jul 02 0.0000 0.0000 0.3000 -0.0100 Aug 02 0.0000 0.0000 0.3100 -0.0050 Sep 02 0.0000 0.0000 0.3150 -0.0050 Oct 02 0.0000 0.0000 0.3150 -0.0090 Nov 02 0.0000 0.0000 0.3175 -0.0075 ------------------------------------------------------------- World Heating Fuel Outlook Bitterly cold weather in the eastern half of Canada and the western half of the US over the next week will result in a substantial boost to heating fuel usage. Mild weather will persist throughout much of Europe and China's weather will be cold over the next week or so. A big increase in the heating fuel demand will continue to be seen through the week across the western portions of the US as a cold air mass from Canada moves southeastward. The eastern part of the nation will see warmer than usual weather causing the heating demand to remain lower than normal. Canada's coldest air mass of the season will shift from the western provinces into Ontario and Quebec this week. The demand for heating oil will jump as the frigid temperatures replace mild weather in the east. Chilly temperatures will continue in the west maintaining steady heating demand usage, but warmer weather is expected for northern British Columbia and Alberta. In Europe, temperatures 5? - 9? above normal continue through next week resulting in below normal heating fuel demand across much of the continent. The warmer temperatures will shift into the far eastern countries of the region allowing near- normal temperatures to return to the western countries by the end of next week. In China, wintry weather will continue to track across much of the country as relatively cold temperatures persist in the west central regions of the continent, boosting heating fuel consumption. Japanese temperatures are expected to average 2? - 4 ? degrees below normal during the next 10 days with heating fuel consumption expected to be slightly above normal. ------------------------------------------------------------- IPE - ARA Gas Oil Futures $ / Tonne Month ??High ??Low ???Sett ?Change FEB 02 160.00 155.00 155.75 - 5.75 MAR 02 160.50 155.50 156.50 - 5.50 APR 02 162.00 157.50 158.25 - 5.25 MAY 02 162.75 159.75 159.75 - 5.75 JUN 02 165.25 161.75 162.00 - 5.25 JUL 02 164.00 164.00 164.00 - 5.00 AUG 02 169.25 166.00 166.00 - 5.00 SEP 02 170.50 167.50 168.00 - 5.00 OCT 02 173.00 170.00 170.00 - 5.00 NOV 02 174.25 171.25 171.25 - 5.00 ------------------------------------------------------------- NY HARBOR UNLEADED GAS FUTURES Month? ?High ? Low ???Last ??Change Feb 02 0.5550 0.5390 0.5531 -0.0138 Mar 02 0.5630 0.5450 0.5614 -0.0143 Apr 02 0.6319 0.6170 0.6319 -0.0121 May 02 0.6389 0.6280 0.6389 -0.0119 Jun 02 0.6409 0.6280 0.6409 -0.0117 Jul 02 0.6369 0.6340 0.6369 -0.0111 Aug 02 0.6264 0.6220 0.6264 -0.0104 Sep 02 0.6082 0.6050 0.6082 -0.0104 Oct 02 0.5860 0.5815 0.5822 -0.0099 Nov 02 0.5810 0.5742 0.5742 -0.0094 -------------------------------------------------------------- Investors Wary of Petro-Canada's Veba Deal Investors gave Petro-Canada's $2 billion acquisition of Veba Oil & Gas' energy assets a tough reception yesterdayday, driving the stock price down to a 6-month low on concerns about rising debt as oil prices drop. Petro-Canada aims to vastly expand its international exploration and production profile by buying the assets of Germany's Veba from BP. The assets are located in the North Sea, North Africa and South America. The cash deal will boost Petro-Canada's reserves and production by more than 70% and add to earnings and cash flow per share. But it will also increase debt to 2.1 times last year's cash flow. Weakening commodity prices mean cash flow this year could be lower, exasperating the problem. Shares in Petro-Canada sank C$1.58, or more than 4%, to C$35.30 yesterday. Veba's assets are located in a dozen countries. ------------------------------------------------------------- ENERGY. @ENERGY(r), FEA's Complete Suite of Energy Products, BUILT FOR THE FUTURE. *Manage all your energy risks. *Build and Price deals. *Value physical assets (generation, storage, etc.) *Report and reduce your energy risks FEA FINANCIAL ENGINEERING ASSOCIATES Inc. http://www.fea.com/?cId=17 main phone number:? 1 510-548-6200 email address: info@fea.com ------------------------------------------------------------- PHYSICAL GAS PRICES? ? ? Gulf/Eastern Region | Agua Dulce | 1.97 | | ANR SE | 2.06 | | Carthage TG | 2.05 | | Chicago Citygate | 2.12 | | Columbia Gulf Onshore | 2.06 | | Dominion South Point | 2.20 | | Henry Hub | 2.07 | | Houston Ship Channel | 2.12 | | Katy Hub | 2.06 | | NGPL LA Pool | 2.03 | | NGPL - Midcontinent | 2.01 | | NGPL STX | 2.00 | | NGPL TX/OK | 2.03 | | NNG Demarc. | 2.09 | | Niagara | 2.30 | | Sonat Tier 1 | 2.05 | | TCO IPP Pool | 2.15 | | Tetco ELa | 2.05 | | Tetco M-3 | 2.38 | | Tetco STX | 1.98 | | TGP Zone 0 | 2.01 | | TGP Zone 1 (500 Leg) | 2.05 | | TGT Zone SL | 2.06 | | New York Citygate | 2.39 | | Transco Station 65 | 2.13 | | Transco Zone 6 (NY) | 2.40 | | Trunk ELa | 2.07 | | Western Region | California Border | 2.17 | | El Paso Keystone | 2.05 | | El Paso San Juan-Blanco | 2.05 | | Waha Hub | 2.05 | | Canadian/Rockies Region | Nova/Aeco (C$/gig) | 2.93 | | Dawn Hub/Union | 2.24 | | Northwest Stanfield | 2.06 | | Wyoming Pool | 1.95 | | Opal | 1.97 | | PGT-Malin | 2.13 | | Sumas | 2.06 | Flow Date 1/31 ------------------------------------------------------------- ENERGY MANAGEMENT INSTITUTE Higher Education for refined product professionals NOW ENROLLING RISK MANAGEMENT COURSES: PROFESSIONAL GASOLINE AND DISTILLATE MANAGEMENT, PETROLEUM MARKETER, and ADVANCED GASOLINE AND DISTILLATE MASTER LEVEL. REGISTER NOW, CLASS SIZES ARE LIMITED. SEE COMPLETE DETAILS CLICK HERE :http://www.energyinstitution.org ------------------------------------------------------------- Iran's Petroleum Minister Says Cut Unnecessary Iran sees no reason for OPEC to cut oil production at its meeting in March, according to its petroleum minister. His comments came as OPEC's general secretary forecast that oil producing nations would again begin cooperating on pricing. Several OPEC members were Athens attending an energy sector conference. Russia says it will apply the same criteria it used when it last decided to cut oil production, including an appraisal of the international oil situation. Russia disappointed OPEC last year when asked it to cut output to keep up prices. Russia initially offered a cut of just 30,000 bpd, and only after intensive lobbying by OPEC officials offered to increase its cut to 150,000 bpd. OPEC says the economic fallout from the September 11th attacks would only have short to medium term effect on oil prices. It forecasts world oil demand reaching around 106 million bpd by 2020 compared with 76 million bpd now. By 2020, OPEC says it will be producing 53 million bpd, or a market share of about 50%. ------------------------------------------------------------- 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 ------------------------------------------------------------- FINANCIAL SUMMARY The TSE 300 lost 18.31 points to 7548.83 The CRB Index fell 0.38 points to 186.93 The US Dollar increased 0.24 points to 119.62 The Dow advanced 144.99 points to 9618.24 The S&P 500 rose 12.93 points to 1113.57 The Nasdaq was up 20.45 points to 1913.44 March NYMEX Crude Oil dropped 0.50 to 19.08 Canadian-US Exchange climbed 0.0008 to 1.5912 ------------------------------------------------------------- For information on advertising on Enerfax GOlD or Enerfax Daily please write advertise@enerfax.com or call 800-809-8289 ------------------------------------------------------------- Past issues available on Divine's Sagewave. Go to http://www.sagewave.com/D2/autolog/common/log.asp?KEY=enerfax for a free membership to view past issues. ------------------------------------------------------------- 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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