Message-ID: <14085162.1075860920340.JavaMail.evans@thyme> Date: Tue, 22 Jan 2002 21:53:27 -0800 (PST) From: enerfax@msn.com To: enerfaxgold@yahoogroups.com Subject: Enerfax Gas, Oil, Liquids,Derivatives' prices & info (text) Crude Oil Futures Rise on Expiry Mime-Version: 1.0 Content-Type: text/plain; charset=ANSI_X3.4-1968 Content-Transfer-Encoding: 7bit X-From: enerfax1 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 Wednesday, January 23 2002? No. 467 Visit our website at: http://www.enerfaxgold.com/, PETROLEUM PRICES ??? | Bonny Light | $18.81 | Brent | $18.68 | Butane | $ 0.37 | Fuel Oil #2 | $ 0.51 | Louisiana | $18.90 | Medit. | $16.98 | Propane Non-tet | $ 0.28 | Propane Wet-tet | $ 0.28 | W. Tx Int Cush | $18.33 | W. Tx Sour | $16.90 | Euro in US equiv | 0.8862 ------------------------------------------------------------- Todays Petro Bulletins * EOTT Cuts Pay-Out and Outlook; Shares Plunge Over 40% to $8.89 * Conoco Delays Quarterly Earnings Until Thursday * US Petroleum Corporation Acquires Deep Rock Prospect * EIA Says Retail Gasoline Price at $1.105 per Gallon Vs $1.111 per Gallon Last Week * Valero Energy Cuts Crude Oil Runs by 18% on Maintenance Work and Low Margins * Coronado Explorations Completes Merger with Naturol Inc * OSCA Announces Acquisition of Ancor Services for $5 Million * Greens Invoke Profit Motive for Annual Attack on BP * Output from Huge Hibernia Project Off Canada's East Coast to be Well Below Capacity in 2002 Due to Maintenance Shutdown in Mid-Year * FuelSpot Launches New BuyRite(TM) Trading Application ------------------------------------------------------------- NYMEX - NY Harbor Heating Oil? ? ? ? ? ? Month ??High ??Low? ? Last ? Change FEB 02 0.5195 0.5150 0.5141 +0.0000 MAR 02 0.5204 0.5204 0.5181 +0.0015 APR 02 0.5250 0.5150 0.5206 +0.0025 MAY 02 0.5265 0.5195 0.5231 +0.0035 JUN 02 0.5315 0.5240 0.5276 +0.0040 JUL 02 0.5380 0.5340 0.5336 +0.0045 AUG 02 0.5440 0.5400 0.5411 +0.0045 SEP 02 0.5530 0.5500 0.5501 +0.0045 OCT 02 0.5635 0.5580 0.5591 +0.0045 NOV 02 0.5720 0.5634 0.5676 +0.0050 ------------------------------------------------------------- NYMEX Crude Oil Futures ($ / Barrel) Month ?Open ?High ??Low ?Last Change FEB 02 18.30 18.65 18.00 18.34 +0.34 MAR 02 18.98 19.15 18.98 18.98 +0.32 APR 02 19.40 19.49 19.37 19.34 +0.25 MAY 02 19.52 19.77 19.38 19.59 +0.29 JUN 02 19.75 19.95 19.58 19.77 +0.29 JUL 02 19.80 19.92 19.72 19.84 +0.28 AUG 02 19.80 19.80 19.80 19.91 +0.28 SEP 02 19.80 19.95 19.80 19.97 +0.28 OCT 02 19.90 19.90 19.90 20.02 +0.27 NOV 02 19.85 19.85 19.85 20.07 +0.27 ------------------------------------------------------------- Crude Oil Futures Rise on Expiry Crude oil futures for February delivery on the NYMEX rose $0.34 to $18.34 per barrel before they expired yesterday. March crude oil futures on the NYMEX climbed $0.32 to $18.98 per barrel. The White House provided a lift for the market with the announcement of a tender for 22,000 barrels of oil to be added to the SPR in exchange for royalties owed to the government. The SPR currently holds 551 million barrels of oil, enough to supply the nation for 4 weeks. The reserves are located in salt caverns near the Texas and Louisiana coasts of the Gulf of Mexico. Comments from Iran's oil minister also gave the market a boost when he hinted that another production cut might be in the offing at the cartels March meeting. In the meantime, traders are closely watching for signs that the production cuts implemented by producers at the first of the year will actually reduce the volume of oil on the market. OPEC's secretary-general said that compliance with the production cuts would prove sufficient to support prices. Heating oil futures for February delivery on the NYMEX were flat, remaining at $0.5141 per gallon, as the market took a wait and see stance ahead of weekly inventory data. News of 265,000 bpd, or 18%, in run cuts at Valero's 12 US refineries, mainly due to poor refining margins, gave a lift to gasoline futures. Valero also plans to cut an additional 425,000 bpd, or 28% of its total US production, in February for planned maintenance and economic reasons. February gasoline futures on the NYMEX gained $0.0087 to $0.5479 per gallon. In London, Brent crude oil futures for March delivery on the IPE were up $0.18 to $18.75 per barrel. ------------------------------------------------------------- ?????????????????????? NYMEX Henry Hub Natural Gas Futures 12 Month Strip ?2.4628 -0.0708 ? ? ? 18 Month Strip ?2.6023 -0.0552 ? ? | Month | High | Low | Close | Change | | FEB | 2.130 | 2.113 | 2.106 | -0.130 | | MAR | 2.138 | 2.121 | 2.118 | -0.118 | | APR | 2.195 | 2.182 | 2.178 | -0.101 | | MAY | 2.298 | 2.274 | 2.270 | -0.082 | | JUN | 2.360 | 2.345 | 2.338 | -0.074 | | JUL | 2.440 | 2.410 | 2.413 | -0.067 | | AUG | 2.495 | 2.460 | 2.461 | -0.065 | | SEP | 2.505 | 2.470 | 2.473 | -0.056 | | OCT | 2.530 | 2.530 | 2.503 | -0.049 | | NOV | 2.750 | 2.720 | 2.728 | -0.044 | | DEC | 2.955 | 2.920 | 2.938 | -0.034 | | JAN | 3.055 | 3.000 | 3.028 | -0.029 | ------------------------------------------------------------- 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 ------------------------------------------------------------- World Heating Fuel Outlook Mild temperatures in Europe, southern Canada and the eastern US will stifle heating oil usage through the end of January. In the northern hemisphere, only China and Japan are likely to experience generally colder than usual weather. In the US, mild temperatures will continue across the central and eastern sections over the next 7 to 10 days, adding to the lack of seasonal demand for heating oil. Occasional spells of colder weather will occur, but the general trend of unusually mild weather is expected to continue into next month. Temperatures will average from 4? to 9? F above normal through February 1st in the Midwest, Northeast and most of the Southeast. Cold temperatures could occur in areas west of the Rocky Mountains during the next 10 days, raising the demand for heating fuel. Temperatures will be about 4? F below normal along the Pacific Coast and nearly 10? below average in the interior western states. In Canada, cold air will continue to spread across northern and western Canada but will likely not move southward during the next several days, reducing heating demand in southern Manitoba, Ontario, Quebec and the Atlantic Provinces with temperatures averaging from 2? - 8? C above normal through the end of the month. Cold temperatures and strong heating fuel demand will occur in British Columbia, western Alberta and northern parts of Canada for the next 10 days. In Europe, wide-spread pleasant weather is expected for the next few days, keeping demand for heating fuel lower than average. Temperatures from 3? - 7? C above normal will affect most mainland European regions and the UK through early next month. Cold temperatures will prevail in the Scandinavian countries for the next several days, maintaining strong heating needs. ------------------------------------------------------------- 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 ------------------------------------------------------------- Teppco 4th Quarter Earnings Down Teppco Partners says 4th quarter net income fell 7%, but full- year earnings jumped 40% on strong performance of its upstream and downstream units, contributions from Jonah Gas Gathering System acquisition and increased distribution. Teppco reported net income of $21.2 million, or $0.40 per unit, compared with $22.8 million, or $0.53 per unit in a year ago. Full-year 2001 earnings climbed to $109.1 million, or $2.18 per unit, from $77.4 million, or $1.89 per unit in 2000. The company's net income, adjusted for the $19 million Pennzoil settlement, was still over $90 million, exceeding the previous best year by $13 million, with earnings before interest, taxes, depreciation and amortization of $229 million. Teppco faces uncertainties regarding the economy, refined products demand and crude oil pricing. ------------------------------------------------------------- ??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 ????? ------------------------------------------------------------- BP Hit With 1 Million Pounds in Fines After having fines totaling 1 million pounds levied against it, BP said its reputation on safety and pollution issues had been compromised by 2 incidents spanning 3 days at its Grangemouth, Scotland oil and petrochemicals complex. A Scottish court found BP guilty of gross dereliction of duties and ruled that there had been considerable danger to plant operators and members of the public. BP's chemicals operation has been fined 750,000 pounds for failure to ensure the safety of the public after a pipeline rupture at the complex. A further 250,000 pound fine was imposed on BP Grangemouth for failure to ensure the safety of employees during a fire at the refinery's catalytic cracking unit just 3 days after the first incident when flammable hydrocarbon vapors exploded, causing 5 BP employees to flee for their lives. BP said that it is in the midst of a 3-year 240 million pound upgrade to the safety infrastructure at the huge Grangemouth facility, which refines crude oil from the North Sea and manufactures bulk petrochemicals and plastics. To repair damage to its reputation, the oil firm has heightened its public relations within the local community and carefully explains what its doing and why its doing it in relation to the ongoing improvements. ------------------------------------------------------------- IPE-Brent Crude futures (US $/barrel) Month ?First ?High ?Low ??Sett ?Chg MAR 02 18.70 18.70 18.56 18.75 +0.00 APR 02 18.90 19.30 18.70 18.80 +0.00 MAY 02 19.04 19.45 18.80 18.91 +0.00 JUN 02 19.07 19.40 18.90 18.93 +0.00 JUL 02 19.11 19.34 18.88 18.97 +0.00 AUG 02 19.14 19.44 19.02 19.02 +0.00 SEP 02 19.10 19.22 19.07 19.07 +0.00 OCT 02 19.18 19.20 19.12 19.12 +0.00 NOV 02 19.33 19.48 19.17 19.17 +0.00 DEC 02 19.38 19.54 19.20 19.21 +0.00 ------------------------------------------------------------- NYMEX-Mont Belvieu Propane Gas Futures($ / Gallon) Month ? ?High ??Low ??Last ? Change Feb 02 0.0000 0.0000 0.2875 +0.0000 Mar 02 0.0000 0.0000 0.2750 +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 0.3075 +0.0000 Aug 02 0.0000 0.0000 0.3125 +0.0000 Sep 02 0.0000 0.0000 0.3125 +0.0000 Oct 02 0.0000 0.0000 0.3225 +0.0000 Nov 02 0.0000 0.0000 0.3225 +0.0000 ------------------------------------------------------------- Petro-Canada Profit Falls Sharply Petro-Canada's 4th quarter profit tumbled 75% as lower oil and natural gas prices and exposure to Enron took their toll. Petro- Canada is in a long list of major oil companies in North America whose profits were squeezed by worsening industry conditions as the world economy weakened. Quarterly net earnings were C$71 million, or C$0.27 per share, down from C$287 million, or C$1.05 per share, before reorganization costs in 2000. Profit was lowered by C$15 million, or C$0.06 per share, after Petro-Canada severed its natural gas trading ties with Enron. Cash flow was more than cut in half to C$307 million, or C$1.17 a share, from C$684 million, or C$2.52 per share. Revenues were C$1.8 billion, down 39% from C$2.9 billion. Petro-Canada does not expect sharply higher prices this year, even though its capital spending is expected to increase 9% this year to more than C$1.8 billion. Earnings at the company's exploration and production division sank 79% in the quarter to C$52 million, due to sharply weaker oil prices and lower production after non-core asset sales during 2001. Petro-Canada sold its crude oil for an average C$29.32 per barrel in the quarter, down 36% from the year before, while the price it received for its natural gas averaged C$3.17 per Mcf, down 57%. Total oil and natural gas production averaged 205,000 barrels of oil equivalent per day, down from year-earlier 211,000. ------------------------------------------------------------- IPE - ARA Gas Oil Futures $ / Tonne Month ??High ??Low ???Sett ?Change FEB 02 162.00 156.50 159.25 + 0.00 MAR 02 163.00 158.50 160.25 + 0.00 APR 02 164.25 160.25 161.50 + 0.00 MAY 02 166.25 163.25 163.25 + 0.00 JUN 02 167.50 163.50 165.00 + 0.00 JUL 02 169.00 166.00 167.00 + 0.00 AUG 02 170.50 168.50 169.00 + 0.00 SEP 02 170.75 170.75 170.75 + 0.00 OCT 02 172.50 172.50 172.50 + 0.00 NOV 02 173.75 173.75 173.75 + 0.00 ------------------------------------------------------------- NY HARBOR UNLEADED GAS FUTURES Month? ?High ? Low ???Last ??Change Feb 02 0.5540 0.5390 0.5479 +0.0087 Mar 02 0.5630 0.5510 0.5575 +0.0073 Apr 02 0.6335 0.6230 0.6275 +0.0063 May 02 0.6390 0.6325 0.6348 +0.0059 Jun 02 0.6405 0.6340 0.6370 +0.0058 Jul 02 0.6370 0.6320 0.6325 +0.0051 Aug 02 0.6280 0.6215 0.6215 +0.0046 Sep 02 0.6055 0.6045 0.6045 +0.0028 Oct 02 0.5860 0.5785 0.5785 +0.0023 Nov 02 0.5750 0.5700 0.5700 +0.0000 -------------------------------------------------------------- Schlumbergers Profits Dip 22% Schlumberger's net income dropped by 22% in the 4th quarter due to a decline in drilling activity. Profit for the last quarter was $185 million, or $0.32 per share, down from about $238 million, or $0.41 per share a year ago. Analysts had forecast earnings of $0.33 per share. Revenue for 2001 was up 27% to $3.63 billion. The number of Schlumberger's rigs in use world-wide in the 4th quarter dropped by 8% from a year ago and 13% from the 3rd quarter. The company's tax payment climbed from $82.7 million a year ago to $219 million last quarter after it divested a water-meter business. Schlumberger said its 2002 business depends heavily on the timing and strength of the economic recovery in North America. The company cut its debt to about $5 billion last quarter from $5.7 billion the previous quarter and it obtained an additional $4.6 billion credit line last quarter. The company has retained its investment grade rating with both Moody's and S&P. ------------------------------------------------------------- ??ENERGY. @ENERGY(r), FEA's Complete Suite of Energy Products, BUILT FOR THE FUTURE. *Manage all your energy risks. *Build and Price deals. *Value physical assets (generation, storage, etc.) *Report and reduce your energy risks FEA FINANCIAL ENGINEERING ASSOCIATES Inc. http://www.fea.com/?cId=17 main phone number:? 1 510-548-6200 email address: info@fea.com ------------------------------------------------------------- PHYSICAL GAS PRICES? ? ? Gulf/Eastern Region | Agua Dulce | 2.06 | | ANR SE | 2.09 | | Carthage TG | 2.12 | | Chicago Citygate | 2.14 | | Columbia Gulf Onshore | 2.15 | | Dominion South Point | 2.27 | | Henry Hub | 2.18 | | Houston Ship Channel | 2.20 | | Katy Hub | 2.14 | | NGPL LA Pool | 2.08 | | NGPL - Midcontinent | 2.04 | | NGPL STX | 2.07 | | NGPL TX/OK | 2.08 | | NNG Demarc. | 2.10 | | Niagara | 2.34 | | Sonat Tier 1 | 2.14 | | TCO IPP Pool | 2.25 | | Tetco ELa | 2.14 | | Tetco M-3 | 2.45 | | Tetco STX | 2.08 | | TGP Zone 0 | 2.07 | | TGP Zone 1 (500 Leg) | 2.12 | | TGT Zone SL | 2.15 | | New York Citygate | 2.52 | | Transco Station 65 | 2.22 | | Transco Zone 6 (NY) | 2.52 | | Trunk ELa | 2.10 | | Western Region | California Border | 2.16 | | El Paso Keystone | 2.04 | | El Paso San Juan-Blanco | 2.03 | | Waha Hub | 2.06 | | Canadian/Rockies Region | Nova/Aeco (C$/gig) | 3.02 | | Dawn Hub/Union | 2.24 | | Northwest Stanfield | 2.09 | | Wyoming Pool | 1.96 | | Opal | 1.98 | | PGT-Malin | 2.14 | | Sumas | 2.07 | Flow Date 1/23 ------------------------------------------------------------- Fire at Chevron Refinery Does Little Damage A fire late Sunday in a hydrotreating unit at the ChevronTexaco refinery in El Segundo, California, near Los Angeles, was quickly extinguished and other refinery units were not affected. The hydrotreating unit was due to have been brought down soon for scheduled maintenance work and because of the fire the work can now be carried out a little quicker. ------------------------------------------------------------- Pennzoil Introduces New High Mileage Vehicle Motor Oil Pennzoil has introduced a new product specifically for high mileage vehicles: Pennzoil High Mileage Vehicle formula. Providing maximum protection for vehicles with odometer readings of 75,000 miles and beyond, Pennzoil High Mileage Vehicle motor oil helps prevent most of the common problems associated with older engines. These problems include cracked seals that cause leaks to form into deposits, robbing an engine of horsepower. In your engine, these deposits can cause piston rings to stick, allowing combustion gases to contaminate the oil, resulting in thicker oil. Pennzoil's new formula was developed with additional components to help prevent these types of engine problems. Pennzoil's unique formula features an additive that interacts with the rubber in engine seals causing them to swell and preventing them from getting hard and cracked, ensuring better seal-to-seal metal contact, helping to prevent leaks and to reduce oil consumption. ------------------------------------------------------------- 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 23.56 points to 7559.29 The CRB Index dropped 0.98 points to 189.09 The US Dollar increased 0.06 points to 117.57 The Dow declined 58.05 points to 9713.80 The S&P 500 fell 8.27 points to 1119.31 The Nasdaq was down 47.81 points to 1882.53 February NYMEX Crude Oil rose 0.34 to 18.34 Canadian-US Exchange dipped 0.0049 to 1.6083 ------------------------------------------------------------- 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/