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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 Monday, February 4 2002? No. 475 Visit our website at: http://www.enerfaxgold.com PETROLEUM PRICES ??? | Bonny Light | $19.87 | Brent | $19.74 | Butane | $ 0.37 | Fuel Oil #2 | $ 0.56 | Louisiana | $20.80 | Medit. | $17.94 | Propane Non-tet | $ 0.29 | Propane Wet-tet | $ 0.29 | W. Tx Int Cush | $20.38 | W. Tx Sour | $19.30 | Euro in US equiv | 0.8622 ------------------------------------------------------------- Todays Petro Bulletins * ExxonMobil Chemical to Buy Solutia's 50% Stake in the Advanced Elastomer Systems * BP Drops UBS Fund Hit by Enron Meltdown * Natural Resources Canada Becomes OGC Principal Member * Shell Commits $32 Million to Emerson Process Management for Major Automation Projects at Deer Park TX Refinery * Rowan Announces Completion of Oilfield-Electric-Marine Acquisition. Nigeria Blasts Death Toll Tops 1,000 * Kuwait's Oil Minister Offers to Resign Taking Responsibility for Deadly Oil Field Fire * OPEC Likely to Leave Oil Production Levels Unchanged at Upcoming March Meeting * Iran Says `Axis of Evil' Tag Pinned by President Bush Will Not Undermine Foreign Investment Prospects in Energy Sector * Iran Considers Caspian Oil Production Sharing Deals * Syria Denies Smuggling Iraqi Oil ------------------------------------------------------------- ENERGY MANAGEMENT INSTITUTE Higher Education for refined product professionals NOW ENROLLING RISK MANAGEMENT COURSES: PROFESSIONAL GASOLINE AND DISTILLATE MANAGEMENT, PETROLEUM MARKETER, and ADVANCED GASOLINE AND DISTILLATE MASTER LEVEL. REGISTER NOW, CLASS SIZES ARE LIMITED. SEE COMPLETE DETAILS CLICK HERE: http://www.energyinstitution.org -------------------------------------------------------------- NYMEX - NY Harbor Heating Oil? ? ? ? ? ? Month ??High ??Low? ? Last ? Change MAR 02 0.5570 0.5210 0.5531 +0.0215 APR 02 0.5570 0.5245 0.5552 +0.0221 MAY 02 0.5570 0.5285 0.5557 +0.0201 JUN 02 0.5580 0.5320 0.5582 +0.0186 JUL 02 0.5590 0.5560 0.5632 +0.0176 AUG 02 0.5715 0.5515 0.5707 +0.0171 SEP 02 0.5770 0.5686 0.5792 +0.0166 OCT 02 0.5785 0.5785 0.5877 +0.0161 NOV 02 0.5750 0.5730 0.5796 +0.0105 DEC 02 0.6025 0.5940 0.6032 +0.0161 ------------------------------------------------------------- NYMEX Crude Oil Futures ($ / Barrel) Month ?Open ?High ??Low ?Last Change MAR 02 19.20 20.55 19.15 20.38 +0.90 APR 02 19.54 20.80 19.51 20.63 +0.82 MAY 02 20.00 20.95 19.75 20.84 +0.77 JUN 02 19.95 21.00 19.95 20.95 +0.72 JUL 02 20.60 21.03 20.00 20.96 +0.66 AUG 02 20.60 20.85 20.28 20.97 +0.62 SEP 02 20.25 21.15 20.36 20.98 +0.59 OCT 02 20.33 20.33 20.21 20.43 +0.35 NOV 02 21.00 21.00 21.00 21.01 +0.54 DEC 02 19.85 21.00 20.45 21.01 +0.50 ------------------------------------------------------------- Crude Oil Futures Jump on Kuwaiti Oil Fire Crude oil futures for March delivery on the NYMEX jumped $0.90 to $20.38 per barrel on Friday after reports of a fire at a Kuwaiti oil field gathering center for petroleum supplies. Short-term supply disruptions are expected from the 600,000 bpd of oil output lost due to the pipeline explosion. Some say that the Kuwaiti fire appears to have driven several of the huge trading funds to cover their short positions. In addition, the market gained support from a prediction by OPEC's secretary-general that oil demand would climb by 500,000 bpd this year. But a senior OPEC official warned that if any major producers flooded the market with crude oil or products that other producers would follow suit to avoid losing market share. Rival producers fear that Russia, which has promised to cut 150,000 bpd of crude supply, could unleash exports of refined products, while still technically sticking to their crude oil curbs. However, US economic data showing a jump in consumer sentiment and a dip in unemployment rates also provided the market with a boost. News that a threatened strike by the Paper, Allied-Industrial, Chemical and Energy Workers International union was averted appeared to have a minimal effect on the market. Heating oil futures for March delivery on the NYMEX rose $0.0215 to $0.5531 per gallon. March gasoline futures on the NYMEX gained $ 0.0292 to $0.6034 per gallon. In London, Brent crude oil futures on the IPE were up $0.80 to $19.98 per barrel. ------------------------------------------------------------- ???????????????????? NYMEX Henry Hub Natural Gas Futures 12 Month Strip ?2.5156 -0.0023 ? ? ? 18 Month Strip ?2.6121 -0.0052 ? ? | Month | High | Low | Close | Change | | MAR | 2.175 | 2.100 | 2.138 | +0.000 | | APR | 2.220 | 2.160 | 2.198 | +0.008 | | MAY | 2.280 | 2.240 | 2.266 | +0.008 | | JUN | 2.350 | 2.310 | 2.331 | +0.005 | | JUL | 2.410 | 2.385 | 2.391 | +0.000 | | AUG | 2.465 | 2.425 | 2.446 | -0.002 | | SEP | 2.470 | 2.430 | 2.446 | -0.002 | | OCT | 2.480 | 2.440 | 2.470 | -0.002 | | NOV | 2.710 | 2.650 | 2.695 | -0.004 | | DEC | 2.920 | 2.880 | 2.894 | -0.010 | | JAN | 3.020 | 2.480 | 2.981 | -0.013 | | FEB | 2.960 | 2.480 | 2.931 | -0.016 | ------------------------------------------------------------- OPEN SEASON SG Resources Mississippi, L.L.C., a wholly owned subsidiary of SGR Holdings, L.L.C., is conducting an open season for firm storage services at its new high-deliverability, salt cavern, natural gas storage facility, known as the Southern Pines Energy Center. The open season will begin at 9:00 a.m. CDT on February 4, 2002, and will continue until 5:00 p.m. CDT on March 4, 2002. The project is located at the border of Mississippi and Alabama with access to the major pipelines serving the Mid-Atlantic and the Southeastern United States. The facility is ideally located to serve as a transportation and storage hub for shippers on any one of nine major pipelines that will be interconnected directly or indirectly to the project. Information on the facility and the Open Season is available on our web site at http://www.sgr-holdings.com or contact us at 713-914-8188. ------------------------------------------------------------- New Agreement Averts Strike at Refineries Shell has negotiated a contract agreement with the 30,000 member Paper, Allied-Industrial, Chemical and Energy Workers union, averting the first nationwide strike against US oil refiners since 1980. The union had threatened to strike refineries owned by ChevronTexaco, Exxon Mobil, BP and Phillips at midnight Thursday. The agreement between Shell and the union will be used as a model for contracts with other companies. Just hours before the negotiation's deadline, the union rescinded its threat of strike, which allowed talks to continue. Terms of the 4-year contract include pay raises of $0.85 per hour in the first year with hikes of 3.5%, 3.7% and 4% in subsequent years. The contract also increased the benefit for death resulting from a work accident to $500,000 from $250,000. Workers at 153 oil and natural gas refineries and terminals will be affected by the deal. ------------------------------------------------------------- ??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 ????? ------------------------------------------------------------- World Heating Fuel Outlook Arctic temperatures moving into eastern Canada will increase demand for heating oil in Quebec, Ontario and the northeastern US through next week. Warmer than usual temperatures will continue in much of Europe, but a cold snap in western Europe early next week will boost heating fuel usage for a few days. In the US, cold air will cover most of the northeast and northern portions of the country producing a hefty increase in heating fuel demand. A warm air mass in the southwest will reduce the high usage seen the past week. In Canada the coldest air mass of the season will continue in the eastern provinces during the next week. Heating fuel demand will remain above normal as warmer temperatures in the west lower usage slightly. In Europe, average heating fuel demand will stay below normal across much of the continent as temperatures 3? - 8? above normal continue through next week. A cold front in western Europe at the beginning of this week will bump up usage for a few days. In China, cooler weather will continue to move across much of the nation as relatively cold temperatures persist in the west central regions. The chilly weather will keep heating fuel usage above normal. Temperatures in Japan are expected to be 2? - 4? below normal through next week producing slightly above normal heating fuel consumption. ------------------------------------------------------------- IPE-Brent Crude futures (US $/barrel) Month ?First ?High ?Low ??Sett ?Chg MAR 02 19.35 20.03 18.80 19.98 +0.80 APR 02 19.50 20.20 19.03 20.20 +0.79 MAY 02 19.60 20.31 19.15 20.28 +0.74 JUN 02 19.45 20.18 19.10 20.18 +0.70 JUL 02 19.45 20.17 19.16 20.17 +0.66 AUG 02 20.20 20.20 20.20 20.20 +0.64 SEP 02 19.62 20.23 19.31 20.23 +0.62 OCT 02 19.65 20.26 19.46 20.26 +0.61 NOV 02 20.28 20.28 20.28 20.28 +0.60 DEC 02 19.63 20.30 19.38 20.30 +0.59 ------------------------------------------------------------- NYMEX-Mont Belvieu Propane Gas Futures($ / Gallon) Month ? ?High ??Low ??Last ? Change Mar 02 0.2950 0.2900 0.2950 +0.0100 Apr 02 0.2975 0.2900 0.2975 +0.0100 May 02 0.3000 0.2900 0.3000 +0.0100 Jun 02 0.3075 0.2975 0.3075 +0.0100 Jul 02 0.3075 0.3000 0.3075 +0.0075 Aug 02 0.3200 0.3100 0.3200 +0.0100 Sep 02 0.3250 0.3125 0.3250 +0.0100 Oct 02 0.3250 0.3150 0.3250 +0.0100 Nov 02 0.3275 0.3175 0.3275 +0.0100 Dec 02 0.3350 0.3250 0.3350 +0.0100 ------------------------------------------------------------- Qatar Warns Non-OPEC Oil Exporters Qatar's oil minister says that if any major oil producer flooded international markets with crude oil or refined products, OPEC would suspend its supply cuts in March. OPEC implemented its 4th successive production cut last month after a negotiated agreement with other exporters including Russia, Mexico and Norway. Russia says it plans to increase exports of refined oil to ease a glut on its domestic market, despite its agreement with OPEC. Last week, Russia cut in half its export duties for fuel oil, having cut tariffs on other product exports earlier. The OPEC oil ministers are due to meet next on March 15th. Qatar now says $20 ? $22 per barrel is a reasonable target for OPEC's reference basket of crude oils, well below the cartel's official range of $22 ? $28 per barrel. ------------------------------------------------------------- IPE - ARA Gas Oil Futures $ / Tonne Month ??High ??Low ???Sett ?Change MAR 02 169.50 159.75 167.25 + 6.25 APR 02 169.50 161.50 168.75 + 7.00 MAY 02 169.75 164.00 169.75 + 6.00 JUN 02 171.50 165.00 171.50 + 6.00 JUL 02 173.25 173.25 173.25 + 6.00 AUG 02 174.75 174.75 174.75 + 5.50 SEP 02 176.50 176.00 176.50 + 5.25 OCT 02 178.25 178.25 178.25 + 5.00 NOV 02 179.25 175.00 179.25 + 4.75 DEC 02 180.00 180.00 180.00 + 4.75 ------------------------------------------------------------- NY HARBOR UNLEADED GAS FUTURES Month? ?High ? Low ???Last ??Change MAR 02 0.6070 0.5640 0.6034 +0.0292 APR 02 0.6690 0.6345 0.6662 +0.0225 MAY 02 0.6740 0.6430 0.6712 +0.0210 JUN 02 0.6725 0.6450 0.6712 +0.0193 JUL 02 0.6650 0.6495 0.6657 +0.0183 AUG 02 0.6525 0.6525 0.6547 +0.0181 SEP 02 0.6050 0.6050 0.6082 -0.0104 OCT 02 0.5822 0.5822 0.5822 -0.0099 NOV 02 0.5742 0.5742 0.5742 -0.0094 DEC 02 0.5727 0.5727 0.5727 -0.0094 -------------------------------------------------------------- CFTC To Restructure The Commodity Futures Trading Commission plans to restructure to implement a major overhaul of futures laws passed by Congress in 2000. The legislation deregulated futures and derivatives markets to help better face growing global competition. It also changes the CFTC's role from a front-line regulator to more of an oversight agency. The functions previously performed by the agency's divisions of Trading and Markets and Economic Analysis will be performed by 2 new divisions and one new office. ------------------------------------------------------------- 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=18 Jennifer Cogley Marketing Department Financial Engineering Associates 2201 Dwight Way Berkeley, CA 94704 www.fea.com mailto:jennifer.cogley@fea.com T. +1 510-549-8702x209 F. +1 510-548-0332 ------------------------------------------------------------- PHYSICAL GAS PRICES? ? ? Gulf/Eastern Region | Agua Dulce | 2.06 | | ANR SE | 2.15 | | Carthage TG | 2.13 | | Chicago Citygate | 2.20 | | Columbia Gulf Onshore | 2.17 | | Dominion South Point | 2.37 | | Henry Hub | 2.19 | | Houston Ship Channel | 2.18 | | Katy Hub | 2.13 | | NGPL LA Pool | 2.14 | | NGPL - Midcontinent | 2.07 | | NGPL STX | 2.10 | | NGPL TX/OK | 2.12 | | NNG Demarc. | 2.16 | | Niagara | 2.36 | | Sonat Tier 1 | 2.16 | | TCO IPP Pool | 2.27 | | Tetco ELa | 2.16 | | Tetco M-3 | 2.48 | | Tetco STX | 2.08 | | TGP Zone 0 | 2.11 | | TGP Zone 1 (500 Leg) | 2.15 | | TGT Zone SL | 2.17 | | New York Citygate | 2.56 | | Transco Station 65 | 2.22 | | Transco Zone 6 (NY) | 2.56 | | Trunk ELa | 2.15 | | Western Region | California Border | 2.17 | | El Paso Keystone | 2.05 | | El Paso San Juan-Blanco | 2.05 | | Waha Hub | 2.10 | | Canadian/Rockies Region | Nova/Aeco (C$/gig) | 2.99 | | Dawn Hub/Union | 2.30 | | Northwest Stanfield | 2.04 | | Wyoming Pool | 1.91 | | Opal | 1.91 | | PGT-Malin | 2.10 | | Sumas | 2.00 | Flow Dates 02/2-4 ------------------------------------------------------------- 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 ------------------------------------------------------------- Administration Considering New Fuel Standards In a move that seems to please neither environmentalists nor auto makers, the administration is asking Congress for authority to rework the CAFE system, established in 1975 to set fuel economy standards. In a letter to congressional leaders, the transportation secretary cited a report by the National Academy of Sciences, which said that current fuel economy could be improved by existing technology. But he also pointed out that the panel said that CAFE has produced smaller and lighter cars, resulting in more traffic deaths. He said that the DOT is deeply concerned about the adverse impact that CAFE has had on safety. According to CAFE standards cars must get at least 27.5 mpg, while pickups, minivans and SUVs must get 20.7 mpg. Auto makers are not required to meet the standard for each model, but must meet the average for their entire fleet. Lighter automobiles with better mileage offset heavier gas-guzzling vehicles. The DOT secretary said that a new standard could be weight-based, so as to not encourage manufacturers to build smaller cars to meet the standard. The secretary is seeking an increased the budget to revise the standards. Environmentalists are not encouraged however, skeptically arguing that the administration is trying to head off a Senate vote on CAFE standards and preserve oil imports from Saudi Arabia. They also contend that the administration is unwilling to take sensible steps to cut out oil dependence. Auto manufacturers say that the proposals would just create different winners and losers depending on the rules and that there are a lot of details that need to be examined. ------------------------------------------------------------- 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 End Week with Rally Canadian energy stock prices jumped higher Friday along with oil prices. Merger partners PanCanadian Energy and Alberta Energy were among the top movers at the end of a week of big deals. The TSE's oil and natural gas sub-index jumped more than 150 points, or 1.7%, to 9109.44, the highest level since December. The rally came as oil rose to a 3-week high. WTI crude oil climbed $0.90 per barrel to close at $20.38 after OPEC forecast a modest increase of 500,000 bpd in oil demand in 2002 over 2001. OPEC says the most likely outcome of its March 15th meeting would be no change in the output quotas. Shares in PanCanadian and AEC both rose about 4%. The proposed combined company will be called EnCana Corp. Petro-Canada, which agreed last week to buy the international assets of Veba Oil & Gas for C$3.2 billion, rose C$0.19 to C$36.54. Nexen also jumped 4%, up C$1.29 to C$32.59 after a 4.3% increase on Thursday. Baytex Energy jumped more than 5% to C$4.73. ------------------------------------------------------------- FINANCIAL SUMMARY The TSE 300 gained 42.02 points to 7690.57 The CRB Index climbed 2.22 points to 189.51 The US Dollar decreased 0.38 points to 119.79 The Dow declined 12.74 points to 9907.26 The S&P 500 lost 8.00 points to 1122.20 The Nasdaq was down 22.79 points to 1911.24 March NYMEX Crude Oil added 0.90 to 20.38 Canadian-US Exchange fell 0.0016 to 1.5907 ------------------------------------------------------------- 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/ 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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