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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, March 01 2002? No. 493 Visit our website at: http://www.enerfaxgold.com PETROLEUM PRICES ??? | Bonny Light | $20.77 | Brent | $20.69 | Butane | $ 0.38 | Fuel Oil #2 | $ 0.56 | Louisiana | $21.84 | Medit. | $19.42 | Propane Non-tet | $ 0.34 | Propane Wet-tet | $ 0.34 | W. Tx Int Cush | $21.73 | W. Tx Sour | $20.52 | Euro in US equiv | 0.8690 ------------------------------------------------------------- Todays Petro Bulletins * Moody's Revises Petrobras Outlook to `Positive' from `Stable' * Defense Department Says Equilon Wins $408 Million Military Fuel Contract * Nexen Presents at FirstEnergy East Coast Canadian Energy Conference March 5th in New York * Kaneb Closes Acquisition of Statia Terminaling Subsidiaries * Nigerian Liquefied Natural Gas Ltd to Proceed with $2.7 Billion Expansion of Bonny Island LNG Plant * Premcor to Close Hartford, Illinois Refinery in October * Council for Citizens Against Government Waste Opposes New CAFE Standards * Plains All American Pipeline Closes Acquisition of Crude Oil Assets from CornerStone Propane Partners * Phillips Announces 1st Oil and Natural Gas Production from Jade Field ------------------------------------------------------------- OPEN SEASON SG Resources Mississippi, L.L.C., a wholly owned subsidiary of SGR Holdings, L.L.C., is conducting an open season for firm storage services at its new high-deliverability, salt cavern, natural gas storage facility, known as the Southern Pines Energy Center. The open season will begin at 9:00 a.m. CDT on February 4, 2002, and will continue until 5:00 p.m. CDT on March 4, 2002. The project is located at the border of Mississippi and Alabama with access to the major pipelines serving the Mid-Atlantic and the Southeastern United States. The facility is ideally located to serve as a transportation and storage hub for shippers on any one of nine major pipelines that will be interconnected directly or indirectly to the project. Information on the facility and the Open Season is available on our web site at http://www.sgr-holdings.com or contact us at 713-914-8188 -------------------------------------------------------------- NYMEX - NY Harbor Heating Oil? ? ? ? ? ? Month ??High ??Low? ? Last ? Change Mar 02 0.5710 0.5530 0.5628 +0.0089 Apr 02 0.5740 0.5540 0.5715 +0.0170 May 02 0.5730 0.5570 0.5725 +0.0170 Jun 02 0.5760 0.5615 0.5750 +0.0170 Jul 02 0.5795 0.5700 0.5795 +0.0170 Aug 02 0.5865 0.5750 0.5865 +0.0170 Sep 02 0.5950 0.5820 0.5950 +0.0170 Oct 02 0.6035 0.5900 0.6035 +0.0170 Nov 02 0.6115 0.5990 0.6115 +0.0165 Dec 02 0.6185 0.6050 0.6185 +0.0160 ------------------------------------------------------------- NYMEX Crude Oil Futures ($ / Barrel) Month ?Open ?High ??Low ?Last Change Apr 02 21.50 21.80 21.08 21.74 +0.45 May 02 21.70 22.00 21.36 21.96 +0.45 Jun 02 21.80 22.10 21.50 22.04 +0.45 Jul 02 21.73 21.99 21.62 21.99 +0.45 Aug 02 21.70 21.93 21.65 21.93 +0.44 Sep 02 21.62 21.95 21.38 21.87 +0.43 Oct 02 21.55 21.83 21.55 21.83 +0.43 Nov 02 21.53 21.79 21.53 21.79 +0.42 Dec 02 21.48 21.76 21.25 21.76 +0.42 Jan 03 21.50 21.73 21.50 21.73 +0.42 ------------------------------------------------------------- Crude Oil Futures Rise as Economy Brightens Crude oil futures for April delivery on the NYMEX gained $0.45 to $21.74 per barrel yesterday as the government released figures showing that the economy grew by 1.4% in the last quarter of 2001. The upward revision reinforced Federal Reserve Chairman Greenspan's contention that the recession was ending and supported recent signs that fuel demand is picking up steam. In the past month, gasoline demand has grown 2.5% from a year ago, averaging 8.4 million bpd, helped out by increased sales of SUVs, warmer than usual winter temperatures and lower retail prices. Recently, total fuel demand has been about 2% below last year, after remaining about 4% below for most of the winter due to unseasonably warm temperatures, which lowered heating oil demand, and a sharp drop in airline flights after September 11th. An agreement between OPEC and other producing nations to trim output by almost 2 million bpd appear to be finally taking hold. Refiners have also cut runs because of poor profit margins, which could add to the total oil in inventories but lowers products supply. According to EIA data, oil inventories dropped by 1 million barrels, or 0.6%, last week, marking the 2nd consecutive week supplies have fallen. Heating oil futures for March delivery rose $0.0089 to $0.5628 per gallon in pre-expiry trading. April heating oil futures gained $0.017 to $0.5715 per gallon. Gasoline futures for March delivery on the NYMEX, which also expired yesterday, lost $0.003 to $0.581 per gallon. April gasoline futures climbed $0.0135 $0.6778 per gallon. In London, Brent crude oil futures on the IPE was up $0.48 to $21.33 per barrel. ------------------------------------------------------------- NYMEX Henry Hub Natural Gas Futures 12 Month Strip ?2.7883 -0.0395 ? ? ? 18 Month Strip ?2.8977 -0.0322 ? ? | Month | High | Low | Close | Change | | APR | 2.465 | 2.340 | 2.357 | -0.070 | | MAY | 2.515 | 2.410 | 2.415 | -0.064 | | JUN | 2.570 | 2.470 | 2.478 | -0.058 | | JUL | 2.620 | 2.530 | 2.536 | -0.055 | | AUG | 2.670 | 2.585 | 2.591 | -0.050 | | SEP | 2.680 | 2.605 | 2.606 | -0.046 | | OCT | 2.715 | 2.651 | 2.651 | -0.040 | | NOV | 2.990 | 2.921 | 2.921 | -0.032 | | DEC | 3.250 | 3.186 | 3.186 | -0.019 | | JAN | 3.365 | 3.300 | 3.306 | -0.013 | | FEB | 3.320 | 3.220 | 3.251 | -0.014 | | MAR | 3.250 | 3.125 | 3.161 | -0.014 | ------------------------------------------------------------- OPEC Production to Stay Unchanged OPEC is will not to adjust production in its March meeting, according to its secretary general. OPEC expects oil prices to remain at current levels through the first half of this year. The cartel cut its production by 1.5 million bpd in January in an effort to bolster prices. OPEC may consider adjusting production at its September meeting or call an emergency meeting before then if necessary. Prices have rallied recently amid rumors of a possible attack on Iraq and expectations of a decline in inventories. ------------------------------------------------------------- ??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 ????? ------------------------------------------------------------- Kinder Morgan Stock Price Tumbles Kinder Morgan shares fell over 11% yesterday, down $5.20 to $41.00 per share, and shares of Kinder Morgan Energy Partners dropped $3.30, over 10%, to $28.60, even after its CEO denied speculation that it may have trouble accessing cash. Kinder Morgan, which depends on limited partnerships to provide tax relief, also said that those limited partnerships were not being investigated by the SEC and its accounting practices are not being questioned. Kinder Morgan Energy said it plans to cut its $3.5 billion debt and will make a public offering in May. After its $750 million purchase of Tejas Gas, Kinder Morgan Energy has about $1.28 billion in commercial paper outstanding. It said that bank credit lines will cover the commercial paper loans. Tejas operates 3400-mile natural gas pipeline in Texas with a 3.5 Bcf per day capacity. Kinder Morgan Energy said that its EPS for the 1st quarter remains at $0. 44 and it expects to earn $1.81 per share this year. ------------------------------------------------------------- IPE-Brent Crude futures (US $/barrel) Month ?First ?High ?Low ??Sett ?Chg APR 02 21.11 21.40 20.85 21.33 +0.48 MAY 02 21.02 21.35 20.84 21.30 +0.55 JUN 02 20.86 21.12 20.69 21.12 +0.52 JUL 02 20.80 21.01 20.70 21.01 +0.50 AUG 02 20.77 20.96 20.67 20.96 +0.49 SEP 02 20.75 20.91 20.75 20.91 +0.46 OCT 02 20.75 20.87 20.60 20.87 +0.45 NOV 02 20.75 20.83 20.66 20.83 +0.45 DEC 02 20.63 20.79 20.40 20.79 +0.45 JAN 02 20.72 20.72 20.72 20.72 +0.44 ------------------------------------------------------------- NYMEX-Mont Belvieu Propane Gas Futures($ / Gallon) Month ? ?High ??Low ??Last ? Change Mar 02 0.3400 0.3350 0.3350 +0.0075 Apr 02 0.3475 0.3330 0.3350 +0.0075 May 02 0.3450 0.3350 0.3350 +0.0075 Jun 02 0.3450 0.3375 0.3375 +0.0075 Jul 02 0.3375 0.3000 0.3375 +0.0075 Aug 02 0.3400 0.3100 0.3400 +0.0075 Sep 02 0.3400 0.3125 0.3400 +0.0075 Oct 02 0.3475 0.3400 0.3475 +0.0075 Nov 02 0.3475 0.3175 0.3475 +0.0075 Dec 02 0.3500 0.3450 0.3500 +0.0075 ------------------------------------------------------------- Canadian Producers Receive C$85 Million to Drop Oil Sands Dispute A group of seven Canadian producers will receive C$85 million from the Alberta government to end a dispute that threatened to block further development of Alberta's massive northern oil sands. The agreement with the government and Conoco will settle a complex dispute that has dragged on for years. Conoco became involved after buying Gulf Canada last year. The companies claimed they were deprived of their rights after provincial regulators told them in 1999 to shutdown about 150 natural gas wells located at Surmont, near Fort McMurray. The wells produced natural gas from reservoirs overlying the oil sands deposits. The regulators ruled gas production would deplete underground pressures, jeopardizing plans by Gulf Canada to develop a C$1.3 billion oil sands project. Alberta has decided not to pay compensation to the producers which claim C$200 million annually in lost revenues. Alberta's oil sands, with total reserves of 300 billion barrels, are expected to attract at least C$25 billion in spending as energy companies proceed with numerous projects. ------------------------------------------------------------- IPE - ARA Gas Oil Futures $ / Tonne Month ??High ??Low ???Sett ?Change MAR 02 171.50 167.00 168.75 - 1.00 APR 02 173.50 170.00 171.50 - 0.75 MAY 02 174.50 172.50 172.75 - 1.00 JUN 02 176.50 173.75 174.75 - 1.00 JUL 02 178.00 176.50 176.50 - 1.00 AUG 02 178.50 178.25 178.25 - 1.00 SEP 02 180.00 180.00 180.00 - 1.00 OCT 02 181.75 181.75 181.75 - 1.00 NOV 02 182.75 182.75 182.75 - 1.00 DEC 02 183.50 183.25 183.25 - 0.75 ------------------------------------------------------------- NY HARBOR UNLEADED GAS FUTURES Month? ?High ? Low ???Last ??Change Mar 02 0.5945 0.5760 0.5810 -0.0030 Apr 02 0.6790 0.6630 0.6778 +0.0135 May 02 0.6850 0.6710 0.6848 +0.0130 Jun 02 0.6900 0.6760 0.6880 +0.0130 Jul 02 0.6830 0.6730 0.6830 +0.0130 Aug 02 0.6710 0.6620 0.6710 +0.0126 Sep 02 0.6540 0.6480 0.6540 +0.0126 Oct 02 0.6260 0.6240 0.6260 +0.0121 Nov 02 0.6165 0.6070 0.6165 +0.0121 Dec 02 0.6140 0.6070 0.6140 +0.0121 ------------------------------------------------------------- Marathon Holds First Investor Meeting At its first investor meeting since its split from US Steel, Marathon Oil revealed plans for 2 natural gas projects, a North Sea natural gas pipeline and a LNG facility in Mexico. The LNG facility would have the capacity to convert 750 MMcf per day of LNG back into natural gas to be sold in Mexico and California. Marathon could face some stiff competition as there are more than a dozen plans to build LNG facilities in or near the US. The project which includes a LNG terminal, pipelines and a power plant could start up in 2005. The other project is a North Sea pipeline, with a 900 MMcf per day capacity, that would run 675 kilometers to a terminal in England. Marathon and US Steel traded under a tracking stock structure over the last 10 years or so, which restricted the performance of Marathons stock. In the past few years, Marathon has been revamping its exploration and production business, which was having trouble replacing it oil and natural gas reserves. Marathon has cut nearly 25% of the jobs in its exploration and production unit since 1999 and sold most of its Canadian oil assets. It is now focusing on projects in Russia, North America, North Africa, Indonesia and the North Sea. Marathon was also awarded a stake in one of Saudi Arabia's highly valued natural gas projects and has a strong refining and marketing partnership with Ashland. In January, Marathon reported a 4th quarter loss of $898 million and has about $900 million of debt from the breakup with US Steel. ------------------------------------------------------------- ENERGY. @ENERGY(r), FEA's Complete Suite of Energy Products, BUILT FOR THE FUTURE. *Manage all your energy risks. *Build and Price deals. *Value physical assets (generation, storage, etc.) *Report and reduce your energy risks FEA FINANCIAL ENGINEERING ASSOCIATES Inc. http://www.fea.com/?cId=18 main phone number: 1 510-548-6200 email address: info@fea.com ------------------------------------------------------------- PHYSICAL GAS PRICES? ? ? Gulf/Eastern Region | Agua Dulce | 2.38 | | ANR SE | 2.45 | | Carthage (E.Tex) | 2.45 | | Chicago Citygate | 2.53 | | Columbia Gulf Onshore | 2.47 | | Dominion South Point | 2.70 | | Henry Hub | 2.49 | | Houston Ship Channel | 2.48 | | Katy Tailgate/Exxon | 2.45 | | NGPL LA Pool | 2.44 | | NGPL - Midcontinent | 2.39 | | NGPL STX | 2.39 | | NGPL TX/OK | 2.43 | | NNG Demarc. | 2.49 | | Niagara | 2.61 | | Sonat Tier 1 | 2.45 | | TCO IPP Pool | 2.60 | | Tetco ELa | 2.43 | | Tetco M-3 | 2.84 | | Tetco STX | 2.42 | | TGP Zone 0 | 2.43 | | TGP Zone 1 (500 Leg) | 2.46 | | TGT Zone SL | 2.48 | | New York Citygate | 3.22 | | Transco Station 65 | 2.51 | | Transco Zone 6 (NY) | 3.23 | | Trunk ELa | 2.44 | | Western Region | California Border | 2.38 | | El Paso Keystone | 2.30 | | El Paso San Juan-Blanco | 2.28 | | Waha Hub | 2.38 | | Canadian/Rockies Region | Nova/Aeco (C$/gig) | 3.30 | | Dawn Hub/Union | 2.56 | | Northwest Stanfield | 2.30 | | Wyoming Pool | 2.15 | | Opal | 2.16 | | PGT-Malin | 2.35 | | Sumas | 2.24 | Flow Date 3/01 ------------------------------------------------------------- Nymex Option Volatility Supplied by "The Daily Hedger" http://www.energyinstitution.org West Texas Intermediate Days Left Implied Month Settlement to Expire Volatility Apr $21.96 14 47.8% May $22.04 47 46.2% Jun $21.99 76 47.5% Jul $21.93 108 44.9% Aug $21.87 138 43.1% Sep $21.83 167 41.5% Oct $21.79 200 39.6% Nov $21.76 230 37.9% Dec $21.73 259 36.3% Jan $21.70 290 40.9% Heating Oil Futures Days left Implied Month Settlement to Expire Volatility Apr $0.5725 24 43.3% May $0.5750 55 41.7% Jun $0.5795 88 39.8% Jul $0.5865 116 37.7% Aug $0.5950 147 35.8% Sep $0.6035 179 35.0% Oct $0.6115 208 34.4% Nov $0.6185 241 36.3% Dec $0.6235 266 34.0% Jan $0.6235 300 34.4% Unleaded Futures Days left Implied Month Settlement to Expire Volatility Apr $0.6848 24 44.3% May $0.6880 55 44.4% Jun $0.6830 88 46.4% Jul $0.6710 116 46.9% Aug $0.6540 147 46.5% Sep $0.6260 179 48.2% Oct $0.6165 208 40.9% Natural Gas Futures Implied Month Settlement Days Left Volatility Apr $2.415 24 43.7% May $2.478 55 40.8% Jun $2.536 88 38.4% Jul $2.591 116 39.2% Aug $2.606 147 42.7% Sep $2.651 179 41.2% Oct $2.921 208 30.0% Nov $3.186 241 32.8% Dec $3.306 269 40.1% Jan $3.251 300 51.0% ------------------------------------------------------------- Oil Shares Climb on Rating Upgrade Shares of oil companies traded mostly higher yesterday after Deutsche Banc Alex Brown upgraded its rating on integrated oil companies, citing better prospects for prices ahead. The integrated oil group was upgraded to `overweight' from `neutral'. Despite the near-term risks to prices and equities, the fundamentals are improving, eroding the fear of a price war. As a result, the oil price forecast has been increased by $1 to $20.50 per barrel for 2002. It also upgraded ExxonMobil to `buy' from `market perform' and raised its price target on its stock to $46 from $41 to reflect an improved outlook for earnings, returns, upstream volume growth and the potential for significant multiple expansion during 2002. ------------------------------------------------------------- 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 ------------------------------------------------------------- BP to End Political Donations BP, which operates in over 90 countries, says that as a global policy from now on it will make no political contributions from corporate funds anywhere in the world. The move comes as US lawmakers consider restrictions on corporate donations to politicians and political parties. The downfall of Enron has added pressure to revamp political campaign finance laws. Enron donated about $6 million to politicians since 1989 and had close ties to a range of lawmakers and government officials. BP says that it will engage in policy debate, stating its views and encouraging the development of ideas, but it will not fund any political activity or any political party. BP conducts about 40% of its business in the US and is one of the largest foreign firms operating in the nation. Most of BP's $840,000 in US political donations made last year were tied to Amoco and Arco, which are now merged with BP. At a federal level, BP's $250,000 of donations were split about 60-40 in favor of Republicans, while the $590,000 donated at state level was split about 60-40 in favor Democrats. In the US, BP has received criticism from environmental groups opposed to drilling in protected areas in Alaska. Outside the US it has been targeted by human rights groups for its relationships with Chinese firms. ------------------------------------------------------------- Have your ad seen by over 45,000 energy professionals for $500. Write GOLDADS@enerfax.com for more information or call 800-809-8289 -------------------------------------------------------------- FINANCIAL SUMMARY The TSE 300 decreased 9.39 points to 7637.50 The CRB Index gained 0.89 points to 192.33 The US Dollar dropped 0.40 points to 119.17 The Dow declined 21.45 points to 10106.13 The S&P 500 lost 3.16 points to 1106.73 The Nasdaq was down 20.39 points to 1731.49 April NYMEX Crude Oil rose 0.45 to 21.74 Canadian-US Exchange fell 0.0036 to 1.6047 ------------------------------------------------------------- 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. Past issues are also available on http://www.egroups.com, sign up for a free id with password. Then go to Join a Group and put Enerfax in the search box to view past isues. ------------------------------------------------------------- To subscribe write enerfaxgold-subscribe@egroups.com To unsubscribe write enerfaxgold-unsubscribe@egroups.com For information on advertising, please write advertising@enerfax.com To unsubscribe write enerfaxgold-unsubscribe@egroups.com. For advertising information write advertisegold@enerfax.com Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
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