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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 Friday, February 1 2002? No. 474 Visit our website at: http://www.enerfaxgold.com PETROLEUM PRICES ??? | Bonny Light | $19.26 | Brent | $19.13 | Butane | $ 0.35 | Fuel Oil #2 | $ 0.54 | Louisiana | $19.85 | Medit. | $17.33 | Propane Non-tet | $ 0.29 | Propane Wet-tet | $ 0.29 | W. Tx Int Cush | $19.48 | W. Tx Sour | $18.40 | Euro in US equiv | 0.8584 ------------------------------------------------------------- Todays Petro Bulletins * Oil Workers Union Rescinds Strike Notice, Awaits New Offer by Oil Companies * Pemex December Crude Output 3.27 Million bpd Vs 3.04 Million bpd Year Ago * Chevron Man Convicted of LA Refinery Threat, Faces Up to 7 Years in Prison * Marathon Oil Approves $1.8 Billion 2002 Budget * Noble Drilling to Move Domicile to Cayman Islands * Apache 4th Quarter Earnings Drop 70% * ChevronTexaco Makes No Move on Phillips or Conoco Yet ------------------------------------------------------------- ENERGY MANAGEMENT INSTITUTE Higher Education for refined product professionals NOW ENROLLING RISK MANAGEMENT COURSES: PROFESSIONAL GASOLINE AND DISTILLATE MANAGEMENT, PETROLEUM MARKETER, and ADVANCED GASOLINE AND DISTILLATE MASTER LEVEL. REGISTER NOW, CLASS SIZES ARE LIMITED. SEE COMPLETE DETAILS CLICK HERE: http://www.energyinstitution.org -------------------------------------------------------------- NYMEX - NY Harbor Heating Oil? ? ? ? ? ? Month ??High ??Low? ? Last ? Change Feb 02 0.5350 0.5080 0.5229 +0.0138 Mar 02 0.5340 0.5120 0.5316 +0.0185 Apr 02 0.5340 0.5170 0.5331 +0.0160 May 02 0.5360 0.5225 0.5356 +0.0140 Jun 02 0.5396 0.5285 0.5396 +0.0125 Jul 02 0.5456 0.5350 0.5456 +0.0120 Aug 02 0.5536 0.5435 0.5536 +0.0115 Sep 02 0.5626 0.5540 0.5626 +0.0115 Oct 02 0.5716 0.5625 0.5716 +0.0110 Nov 02 0.5796 0.5730 0.5796 +0.0105 ------------------------------------------------------------- NYMEX Crude Oil Futures ($ / Barrel) Month ?Open ?High ??Low ?Last Change Mar 02 19.20 19.50 18.95 19.48 +0.40 Apr 02 19.55 19.84 19.33 19.81 +0.37 May 02 19.83 20.08 19.60 20.07 +0.38 Jun 02 20.00 20.23 19.80 20.23 +0.37 Jul 02 19.90 20.32 19.90 20.30 +0.36 Aug 02 19.96 20.35 19.95 20.35 +0.36 Sep 02 20.18 20.45 20.18 20.39 +0.35 Oct 02 20.33 20.43 20.21 20.43 +0.35 Nov 02 20.33 20.47 20.33 20.47 +0.35 Dec 02 20.15 20.51 20.10 20.51 +0.35 ------------------------------------------------------------- Crude Oil Futures Climb After Strike Threatened Crude oil futures for March delivery on the NYMEX climbed $0.40 to $19.48 per barrel after a labor union threatened a strike at 6 US oil refineries. The Paper, Allied-Industrial, Chemical and Energy Workers International union has notified major oil companies that it may order a strike as early as today, unless progress was made in contract negotiations involving almost 30,000 of its members. The March crude oil contract moved between $18.95 and $19.50, with gains of about $0.29 coming in after reports of the strike. The market continues to look for proof that production cuts from OPEC and non- OPEC exporters will be effective. Heating oil and gasoline prices crept higher on a pre-expiry short-covering rally. Refinery run cuts and planned maintenance also helped to support product prices. Heating oil futures for February delivery on the NYMEX gained $0.0138 to $0.5229 per gallon. March heating oil futures rose $0.0185 to $0.5316 per gallon. Gasoline futures for February delivery on the NYMEX increased $0.0061 to $0.5592 per gallon. March gasoline futures climbed $0.0128 to $0.5742 per gallon. In London, Brent crude oil futures for March delivery on the IPE were up $0.39 to $19.18 per barrel. ------------------------------------------------------------- ???????????????????? NYMEX Henry Hub Natural Gas Futures 12 Month Strip ?2.5179 +0.0122 ? ? ? 18 Month Strip ?2.6173 -0.0024 ? ? | Month | High | Low | Close | Change | | MAR | 2.150 | 2.095 | 2.138 | +0.058 | | APR | 2.205 | 2.150 | 2.190 | +0.043 | | MAY | 2.280 | 2.230 | 2.258 | +0.028 | | JUN | 2.345 | 2.310 | 2.326 | +0.016 | | JUL | 2.425 | 2.380 | 2.391 | +0.011 | | AUG | 2.485 | 2.430 | 2.448 | +0.008 | | SEP | 2.475 | 2.430 | 2.448 | +0.008 | | OCT | 2.495 | 2.455 | 2.472 | +0.006 | | NOV | 2.735 | 2.685 | 2.699 | +0.005 | | DEC | 2.945 | 2.904 | 2.904 | -0.005 | | JAN | 3.030 | 2.985 | 2.994 | -0.013 | | FEB | 2.980 | 2.940 | 2.947 | -0.018 | ------------------------------------------------------------- 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 ------------------------------------------------------------- Refinery Releases Chemicals Into Air Near San Francisco A chemical release at the ChevronTexaco refinery in Richmond, California sent toxins spewing into the air yesterday, causing county health officials to warn residents to remain indoors. The refinery is located in Richmond, about 10 miles from San Francisco. Chevron officials say the situation is now under control. The chemicals, hydrogen sulfide, sulfur dioxide and sulfur trioxide, can cause a burning and irritating sensation to the eyes, nose, throat and airways upon exposure at certain levels, prompting officials to warn residents to stay indoors and keep their windows closed. Part of the plant is shutdown for maintenance, although some units are still operating. ------------------------------------------------------------- ??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 ????? ------------------------------------------------------------- Occidental Acquires 21% of Lyondell Occidental Petroleum will acquire 21% of Lyondell Chemicals and Lyondell is buying Occidental's 29.5% interest in a joint venture, Equistar Chemicals. Occidental will become Lyondell's largest stockholder and will assume 2 seats on the Lyondell board. The deal will boost Lyondell's stake in Equistar to 70.5%. Millennium Chemicals owns the remaining 29.5%. Occidentals initial equity investment in Lyondell includes a purchase of about 34 million new Series B Lyondell shares that can be converted into common shares after 3 years. Lyondell will use the proceeds of that sale to buy Occidental's portion of Equistar. Occidental gained the stake upon adding its petrochemical business to the venture in 1998. Lyondell said the transactions would conserve cash and provide for acceleration of its debt repayment program. The financial details of the transactions were not disclosed. Lyondell said that while the deals will be cash-flow neutral and will dilute its earnings initially, they will be accretive to cash flow and earnings as the cyclical chemical business improves. With the additional cash, Lyondell is looking to pay off its $5.6 billion purchase of Arco Chemical in 1998. ------------------------------------------------------------- IPE-Brent Crude futures (US $/barrel) Month ?First ?High ?Low ??Sett ?Chg MAR 02 18.95 19.22 18.75 19.18 +0.39 APR 02 19.15 19.42 18.96 19.41 +0.39 MAY 02 19.23 19.54 19.08 19.54 +0.41 JUN 02 19.17 19.48 19.03 19.48 +0.40 JUL 02 19.24 19.51 19.06 19.51 +0.39 AUG 02 19.29 19.56 19.17 19.56 +0.37 SEP 02 19.15 19.61 19.15 19.61 +0.36 OCT 02 19.65 19.65 19.65 19.65 +0.35 NOV 02 19.68 19.68 19.68 19.68 +0.34 DEC 02 19.71 19.71 19.20 19.71 +0.33 ------------------------------------------------------------- NYMEX-Mont Belvieu Propane Gas Futures($ / Gallon) Month ? ?High ??Low ??Last ? Change Feb 02 0.0000 0.0000 0.2850 +0.0000 Mar 02 0.0000 0.0000 0.2850 +0.0000 Apr 02 0.0000 0.0000 0.2875 +0.0000 May 02 0.0000 0.0000 0.2900 +0.0000 Jun 02 0.0000 0.0000 0.2975 +0.0000 Jul 02 0.0000 0.0000 0.3000 +0.0000 Aug 02 0.0000 0.0000 0.3100 +0.0000 Sep 02 0.0000 0.0000 0.3150 +0.0000 Oct 02 0.0000 0.0000 0.3150 +0.0000 Nov 02 0.0000 0.0000 0.3175 +0.0000 ------------------------------------------------------------- Noble Posts 22% Raise in 4th Quarter Profits Noble Drilling has reported a 22% increase in 4th quarter earnings, with profits of $63.5 million or $0.48 per share, up from $51.9 million or $0.38 per share a year earlier. The 4th quarter average estimate of analysts was $0.47 per share. It also had operating revenue of $272.8 million compared to $225.9 million a year ago. Nobles international rigs fetched an average of $62,088 per day in the last quarter, 38% above year ago levels. Its Gulf of Mexico rig utilization fell to 65% from 100% a year ago, but Noble received $44,900 per rig on average during the quarter, a 1% increase over a year earlier. In addition, Noble said it would change its jurisdiction of incorporation to the Cayman Islands from Delaware as part of a corporate restructuring. The company will form Noble Corp, a subsidiary of Noble Drilling and the holding company of all the companies in the Noble group. Due to its significant exposure to the international markets, Noble said the new structure will give it greater flexibility operationally and financially. Stockholders must approve the move at the annual meeting in April. Nobles shares closed at $31.97, up $1.17. ------------------------------------------------------------- IPE - ARA Gas Oil Futures $ / Tonne Month ??High ??Low ???Sett ?Change FEB 02 162.75 157.75 160.75 + 5.00 MAR 02 162.25 159.00 160.75 + 4.25 APR 02 162.25 160.75 161.75 + 3.50 MAY 02 164.50 162.25 163.75 + 4.00 JUN 02 166.00 164.50 165.50 + 3.50 JUL 02 167.75 166.50 167.25 + 3.25 AUG 02 170.00 168.25 169.25 + 3.25 SEP 02 172.00 171.00 171.25 + 3.25 OCT 02 173.25 171.00 173.25 + 3.25 NOV 02 175.25 173.25 174.50 + 3.25 ------------------------------------------------------------- NY HARBOR UNLEADED GAS FUTURES Month? ?High ? Low ???Last ??Change Feb 02 0.5660 0.5500 0.5592 +0.0061 Mar 02 0.5750 0.5580 0.5742 +0.0128 Apr 02 0.6440 0.6290 0.6437 +0.0118 May 02 0.6502 0.6390 0.6502 +0.0113 Jun 02 0.6519 0.6420 0.6519 +0.0110 Jul 02 0.6474 0.6385 0.6474 +0.0105 Aug 02 0.6366 0.6240 0.6366 +0.0102 Sep 02 0.6181 0.6135 0.6181 +0.0099 Oct 02 0.5916 0.5815 0.5916 +0.0094 Nov 02 0.5826 0.5810 0.5826 +0.0084 -------------------------------------------------------------- Union Threaten Strike at 6 US Refineries The Paper, Allied-Industrial, Chemical and Energy Workers International union has notified major oil companies that it may order a strike as early as today, unless progress was made in contract negotiations involving almost 30,000 members. The union said it would strike at 6 refineries, 2 in Texas and 4 in California, owned by ExxonMobil, ChevronTexaco, BP and Phillips. Combined, the plants have a production capacity of 1.2 million bpd, or about 9% of the nations oil refinery output. The refinery workers have been instructed to proceed with an orderly shutdown if no agreement or contract extension was in place by midnight last night, when the current contract expires. It would be the 1st strike at any US refineries since 1980. The union says that both parties are far apart on major issues and that picketing was a likelihood unless an agreement could be reached. Shell is the lead company negotiating with PACE officials and said it hoped for an agreement before the deadline. The oil companies are expected to keep the refineries running if a strike occurs, but would not say if production might be reduced. In the event of a strike, managers at the companies will run the refineries. Phillips said it would continue operating its California refineries with non-union personnel. Shell has offered a pay raise of $0.60 per hour for the contracts 1st year and annual raises of 3% and 3.5% after that. Shell's offer also called for a $0.75 per hour differential for the evening shift and $1.25 per hour for overnight shifts, $0.25 above the current contract in both cases. The union is bargaining for a pay hike of $1.40 per hour in the 1st year of the contract and subsequent annual raises of 6%. The union is also seeking an evening shift differential of 5% of the top pay grade at the worker's plant and 10% for overnight shifts. If the sides reach agreement, unions and oil companies will likely use it as a benchmark for oil workers contracts around the nation. US oil workers average earnings are about $23 per hour, or about $48,000 per year, excluding overtime. Under the union's proposal the 1st year average of the contract would rise to $25.79 an hour. ------------------------------------------------------------- ENERGY. @ENERGY(r), FEA's Complete Suite of Energy Products, BUILT FOR THE FUTURE. *Manage all your energy risks. *Build and Price deals. *Value physical assets (generation, storage, etc.) *Report and reduce your energy risks FEA FINANCIAL ENGINEERING ASSOCIATES Inc. http://www.fea.com/?cId=17 main phone number:? 1 510-548-6200 email address: info@fea.com ------------------------------------------------------------- PHYSICAL GAS PRICES? ? ? Gulf/Eastern Region | Agua Dulce | 2.00 | | ANR SE | 2.10 | | Carthage TG | 2.09 | | Chicago Citygate | 2.17 | | Columbia Gulf Onshore | 2.10 | | Dominion South Point | 2.31 | | Henry Hub | 2.14 | | Houston Ship Channel | 2.17 | | Katy Hub | 2.11 | | NGPL LA Pool | 2.10 | | NGPL - Midcontinent | 2.06 | | NGPL STX | 2.06 | | NGPL TX/OK | 2.07 | | NNG Demarc. | 2.15 | | Niagara | 2.29 | | Sonat Tier 1 | 2.12 | | TCO IPP Pool | 2.25 | | Tetco ELa | 2.07 | | Tetco M-3 | 2.37 | | Tetco STX | 2.01 | | TGP Zone 0 | 2.04 | | TGP Zone 1 (500 Leg) | 2.08 | | TGT Zone SL | 2.10 | | New York Citygate | 2.40 | | Transco Station 65 | 2.13 | | Transco Zone 6 (NY) | 2.41 | | Trunk ELa | 2.11 | | Western Region | California Border | 2.18 | | El Paso Keystone | 2.06 | | El Paso San Juan-Blanco | 2.07 | | Waha Hub | 2.08 | | Canadian/Rockies Region | Nova/Aeco (C$/gig) | 2.91 | | Dawn Hub/Union | 2.26 | | Northwest Stanfield | 2.06 | | Wyoming Pool | 1.94 | | Opal | 1.94 | | PGT-Malin | 2.12 | | Sumas | 2.02 | Flow Date 2/1 ------------------------------------------------------------- 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 ------------------------------------------------------------- EIA Says Refinery Run Cuts Build Crude Oil Stocks Crude oil stocks built sharply last week as poor profit margins and ample supply of refined products forced refiners to slash runs, according to the EIA. The nation's refineries have slowed by 5.4% in the past two weeks, dropping to just 86.8% last week. Last week's refinery use figure is the lowest reported by the EIA since February 2000. Crude stocks built 2.1 million barrels last week as big refiners reduced runs to battle weak demand and poor margins. Earlier, the API showed crude supplies of 32.2 million barrels, or 11%, above last year. The EIA reported a 2.6 million barrel gasoline build, boosted by a 120,000 bpd increase in gasoline imports as supplies flowed in from Europe. Refinery run cuts are not decreasing gasoline supplies as much as other products, with gasoline production holding strong last week at 8.15 million bpd. Total US product demand is down 4.5% from a year ago, even though gasoline demand is 0.8% higher. Distillate fuel stocks dropped 200,000 barrels, a small fall at a time when winter heating demand normally draws down inventories rapidly. Mild temperatures in the Northeast meant that heating oil stocks actually rose 1.5 million barrels. Diesel fuel stocks fell 1.7 million barrels. ------------------------------------------------------------- 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 ------------------------------------------------------------- Exxon Denies Baton Rouge Refinery Maintenance Exxon Mobil is not planning February maintenance on a crude distillation unit at its 488,000 bpd Baton Rouge refinery, correcting earlier reports to the contrary. Industry sources had said Exxon Mobil planned to shutdown a crude distillation unit at the plant today for 4 weeks. The plant has shut a portion of its 35,000 bpd alkylation unit for work, but that the work has little effect on the refinery's output. ---------------------------------------------------------------------- ---------------------------------------------------- EIA REPORT for CHANGE from WEEK CHANGE from WEEK WEEK ENDED 1/25/02 ENDED 1/18/02 ] ENDED 1/25/01 CRUDE........ 316.9 MLN UP 2.1 MLN UP 24.7 MLN DISTILLATE... 138.8 MLN DOWN 0.2 MLN UP 20.6 MLN GASOLINE..... 216.7 MLN UP 2.6 MLN UP 13.3 MLN HEATING OIL.. 59.5 MLN UP 1.5 MLN UP 10.2 MLN UTILIZATION.. 86.8% DOWN 2.9% DOWN 5.1% PRODUCT DEMAND 19.1 MLN bpd DOWN 0.2 MLN bpd DOWN 4.5% 4-WEEK AVERAGE -------------------------------------------------------------- FINANCIAL SUMMARY The TSE 300 gained 99.66 points to 7648.49 The CRB Index climbed 0.36 points to 187.29 The US Dollar increased 0.54 points to 120.16 The Dow advanced 157.00 points to 9920.00 The S&P 500 climbed 16.63 points to 1130.20 The Nasdaq was up 20.59 points to 1934.03 March NYMEX Crude Oil added 0.40 to 19.48 Canadian-US Exchange rose 0.0009 to 1.5923 ------------------------------------------------------------- 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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