Message-ID: <11783778.1075860921579.JavaMail.evans@thyme> Date: Mon, 28 Jan 2002 22:08:08 -0800 (PST) From: enerfax@msn.com To: enerfaxgold@yahoogroups.com Subject: Enerfax Gas, Oil, Liquids,Derivatives' prices & info (text) Crude Oil Futures Gain on OPEC Compliance 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 Tuesday, January 29 2002? No. 471 Visit our website at: http://www.enerfaxgold.com PETROLEUM PRICES ??? | Bonny Light | $19.84 | Brent | $19.71 | Butane | $ 0.37 | Fuel Oil #2 | $ 0.53 | Louisiana | $20.45 | Medit. | $17.91 | Propane Non-tet | $ 0.29 | Propane Wet-tet | $ 0.29 | W. Tx Int Cush | $20.03 | W. Tx Sour | $18.60 | Euro in US equiv | 0.8623 ------------------------------------------------------------- Todays Petro Bulletins * EIA Says Retail Regular Gasoline Drops to $1.101 per Gallon Last Week from $1.105 per Gallon * Methanex Posts 4th Quarter Loss of $13 Million on Slumping Methanol Prices * Valero Says Commerce City, Colorado Refinery Back Up After Fire * Enbridge Stock rises on C$1 Billion Asset Sale * EOTT Energy Partners Rises Sharply After Last Week's 40% Losses * Morgan Stanley to Buy Ex-Texaco World Headquarters in Northern Suburb of New York City for Undisclosed Amount * Fitch Assigns `BBB+' Senior Unsecured Debt Rating to Transocean's Notes * Michigan Attorney General Files Lawsuit Against Stations Accused of Gasoline Price Gouging ------------------------------------------------------------- ENERGY MANAGEMENT INSTITUTE Higher Education for refined product professionals NOW ENROLLING RISK MANAGEMENT COURSES: PROFESSIONAL GASOLINE AND DISTILLATE MANAGEMENT, PETROLEUM MARKETER, and ADVANCED GASOLINE AND DISTILLATE MASTER LEVEL. REGISTER NOW, CLASS SIZES ARE LIMITED. SEE COMPLETE DETAILS CLICK HERE: http://www.energyinstitution.org -------------------------------------------------------------- NYMEX - NY Harbor Heating Oil? ? ? ? ? ? Month ??High ??Low? ? Last ? Change Feb 02 0.5425 0.5270 0.5313 -0.0060 Mar 02 0.5420 0.5280 0.5320 -0.0056 Apr 02 0.5435 0.5315 0.5340 -0.0051 May 02 0.5420 0.5370 0.5370 -0.0041 Jun 02 0.5490 0.5380 0.5415 -0.0041 Jul 02 0.5520 0.5460 0.5470 -0.0041 Aug 02 0.5600 0.5545 0.5545 -0.0041 Sep 02 0.5650 0.5635 0.5635 -0.0041 Oct 02 0.5750 0.5725 0.5725 -0.0041 Nov 02 0.5860 0.5800 0.5805 -0.0041 ------------------------------------------------------------- NYMEX Crude Oil Futures ($ / Barrel) Month ?Open ?High ??Low ?Last Change Mar 02 20.15 20.37 19.81 20.05 +0.06 Apr 02 20.44 20.65 20.10 20.34 +0.11 May 02 20.60 20.80 20.30 20.48 +0.12 Jun 02 20.70 20.85 20.43 20.56 +0.10 Jul 02 20.73 20.79 20.55 20.56 +0.07 Aug 02 20.80 20.80 20.50 20.56 +0.04 Sep 02 20.65 20.70 20.57 20.57 +0.02 Oct 02 20.80 20.80 20.58 20.58 +0.01 Nov 02 20.80 20.80 20.59 20.59 +0.00 Dec 02 20.80 20.80 20.45 20.60 -0.01 ------------------------------------------------------------- Crude Oil Futures Gain on OPEC Compliance Crude oil futures for March delivery on the NYMEX gained $0.06 to $20.05 per barrel yesterday, after a estimate showed an 89% adherence by OPEC to its most recent set of quotas. The gain marked the 6th day in a row that crude futures have risen. A report from Petrologistics said that OPEC's January production, excluding Iraq, was 22.25 million bpd, still above its monthly quota of 21.7 million bpd. However, it seems that OPEC's compliance with their quotas is much improved compared to previous output curbs. The 10 OPEC countries with quotas trimmed output by 1.4 million bpd, according to the report, not far from the cartels pledge to lower production by 1.5 million bpd. A possible fly in the ointment is that the report only covers the 1st three weeks of the month and lower production could be due to a slow start after the beginning of the year. A sudden surge in production during the last week of the month would skew the figures. Forecasts for balmy weather in much of the Northeast kept the lid on crude prices ahead of the weekly inventory data. Heating oil futures for February delivery on the NYMEX lost $0.0006 to $0.5313 per gallon. February gasoline futures on the NYMEX fell $0.0017 to $0.5811 per gallon. In London, Brent crude oil futures for March delivery on the IPE were up $0.28 to $19.65 per barrel. ------------------------------------------------------------- ???????????????????? NYMEX Henry Hub Natural Gas Futures 12 Month Strip ?2.3724 -0.0866 ? ? ? 18 Month Strip ?2.5266 -0.0760 ? ? | Month | High | Low | Close | Change | | FEB | 2.025 | 1.850 | 1.908 | -0.129 | | MAR | 2.090 | 1.960 | 1.984 | -0.120 | | APR | 2.180 | 2.060 | 2.079 | -0.101 | | MAY | 2.270 | 2.160 | 2.175 | -0.094 | | JUN | 2.340 | 2.255 | 2.255 | -0.087 | | JUL | 2.410 | 2.320 | 2.330 | -0.084 | | AUG | 2.465 | 2.380 | 2.390 | -0.077 | | SEP | 2.475 | 2.375 | 2.399 | -0.077 | | OCT | 2.500 | 2.410 | 2.429 | -0.074 | | NOV | 2.720 | 2.664 | 2.664 | -0.069 | | DEC | 2.955 | 2.879 | 2.879 | -0.066 | | JAN | 3.040 | 2.977 | 2.977 | -0.061 | ------------------------------------------------------------- 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 ------------------------------------------------------------- Senate Considers Improved Fuel Efficiency A provision to require improved fuel efficiency requirements for vehicles is expected to be approved by a Senate committee in the next few weeks. A draft copy of the energy bill circulated last month called for increasing the fuel efficiency of cars built between years 2007 and 2010 to 36 mpg, and 27.5 mpg for light trucks. Those figures are much higher than the current Corporate Average Fuel Economy standards, which require cars to average 27.5 mpg and light trucks to get 20.7 mpg. US automakers say that higher fuel efficiency requirements would force them to make vehicles that are more expensive and lighter, and possibly less safe. But Honda disagrees, saying that fuel economy could be improved in an affordable way without affecting safety. ------------------------------------------------------------- ??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 ????? ------------------------------------------------------------- Centrica to Buy Enbridge Assets Centrica, the UK's largest natural gas supplier, has agreed to buy the building-services units of Canada's Enbridge for C$1 billion in cash to add to its customer base in the US and Canada. The purchase will give Centrica 1.3 million heating, ventilation and air- conditioning clients to whom it also hopes to sell natural gas and power. It already has almost 2 million customers in North America. Centrica, which has estimated its exposure to Enron at up to $43 million, has been diversifying abroad to reduce its concentration in the UK. The company is still about 6 million customers short of its 2003 goal of 10 million users in North America by the end of 2003. Enbridge plans to spend C$5 billion over the next 5 years to expand its delivery systems. The company's credit rating was lowered by S&P last month after a $330 million bid for a stake in a Spanish pipeline. The asset sale was unrelated to the credit rating cut. Centrica, which was spun off from British Gas in 1997, plans to use existing debt to pay for the sale. Centrica has 900,000 natural gas customers, or about 25% of the Ontario market. It also has 600,000 clients who have signed up to switch to the company when Ontario's power market is deregulated on May 1st. More than 50% of its North American customers are in Ontario and it is the 2nd largest natural gas supplier in the province. The company says it is expanding from just offering natural gas and power into a value-added businesses that include servicing, similar to British Gas in the UK. The companies that Centrica has agreed to buy had assets of C$676 million and pre-tax earnings of C$55 million at the end of the 3rd-quarter. Centrica expects to close the deal by June. The company agreed to buy Enron's British energy supply business and some assets for 96.4 million pounds in cash last month. Centrica, which controls more than 70% of the natural gas market in the UK, now offers credit card, insurance, telecommunications and in addition to energy. ------------------------------------------------------------- IPE-Brent Crude futures (US $/barrel) Month ?First ?High ?Low ??Sett ?Chg MAR 02 19.65 19.75 19.39 19.65 +0.28 APR 02 19.80 19.93 19.56 19.80 +0.30 MAY 02 19.89 20.02 19.75 19.90 +0.28 JUN 02 19.80 19.87 19.60 19.81 +0.27 JUL 02 19.80 19.80 19.60 19.79 +0.26 AUG 02 19.82 19.82 19.82 19.82 +0.24 SEP 02 19.83 19.84 19.74 19.84 +0.21 OCT 02 19.83 19.86 19.83 19.86 +0.18 NOV 02 19.87 19.87 19.87 19.87 +0.16 DEC 02 19.88 19.88 19.66 19.88 +0.14 ------------------------------------------------------------- NYMEX-Mont Belvieu Propane Gas Futures($ / Gallon) Month ? ?High ??Low ??Last ? Change Feb 02 0.0000 0.0000 0.2950 +0.0025 Mar 02 0.0000 0.0000 0.2925 +0.0025 Apr 02 0.0000 0.0000 0.2925 +0.0025 May 02 0.0000 0.0000 0.2950 +0.0025 Jun 02 0.0000 0.0000 0.3000 +0.0025 Jul 02 0.0000 0.0000 0.3100 +0.0025 Aug 02 0.0000 0.0000 0.3150 +0.0025 Sep 02 0.0000 0.0000 0.3200 +0.0025 Oct 02 0.0000 0.0000 0.3240 +0.0025 Nov 02 0.0000 0.0000 0.3250 +0.0025 ------------------------------------------------------------- Exxon Mobil Replaces 110% of Production Exxon Mobil has replaced 110% of the oil and natural gas it produced last year after raising its spending even as prices dropped. Exxon Mobil also increased its capital spending 10% last year and expects to do the same this year. It added the equivalent of 1.8 billion barrels of oil to its reserves in 2001. Last year marked the 8th consecutive year that reserve additions have exceeded production. Helped by projects in the deep-waters of the Gulf of Mexico and Alaska's North Slope, the company replaced 109% of its oil and natural gas of production in North America. Other additions came from projects in Qatar, Norway, Malaysia, Equatorial Guinea, Kazakhstan and Australia. Exxon Mobil had 21.6 billion barrels of proved oil and natural gas reserves at the end of last year. At current production rates, that is sufficient to last more than 13 years. Exxon Mobil produced 1.6 billion oil-equivalent barrels in 2001. ------------------------------------------------------------- IPE - ARA Gas Oil Futures $ / Tonne Month ??High ??Low ???Sett ?Change FEB 02 166.25 163.75 164.00 + 3.75 MAR 02 166.50 164.00 164.25 + 3.25 APR 02 167.50 164.75 164.75 + 2.50 MAY 02 168.25 166.00 166.00 + 2.50 JUN 02 170.50 167.50 167.50 + 2.50 JUL 02 171.75 169.25 169.25 + 2.50 AUG 02 173.50 171.00 171.00 + 2.50 SEP 02 172.75 172.75 172.75 + 2.50 OCT 02 174.25 174.25 174.25 + 2.50 NOV 02 175.25 175.25 175.25 + 2.50 ------------------------------------------------------------- NY HARBOR UNLEADED GAS FUTURES Month? ?High ? Low ???Last ??Change Feb 02 0.5900 0.5695 0.5811 -0.0017 Mar 02 0.5990 0.5800 0.5890 -0.0022 Apr 02 0.6670 0.6510 0.6563 -0.0039 May 02 0.6700 0.6575 0.6625 -0.0037 Jun 02 0.6720 0.6580 0.6638 -0.0029 Jul 02 0.6650 0.6586 0.6586 -0.0021 Aug 02 0.6520 0.6440 0.6466 -0.0013 Sep 02 0.6281 0.6125 0.6281 +0.0118 Oct 02 0.5860 0.6011 0.5815 +0.0118 -------------------------------------------------------------- Unocal Replaces 222% of Crude Oil and Natural Gas Production Unocal has replaced more than 222% of its worldwide crude oil and natural gas production during 2001 with new proved reserves. At the end of last year, Unocal's estimate of worldwide reserves was 1.81 billion barrels of oil equivalent, up 15% from 1.58 billion BOE the year before. Unocal booked its 1st reserves from the Mad Dog field in the Gulf of Mexico, and added reserves in Azerbaijan, Thailand, Indonesia, the Gulf of Mexico region, onshore Texas and Alaska. During 2001, it added reserves of 241 million BOE from discoveries and extensions and improved recovery. Reserve acquisitions onshore Texas, in the Gulf of Mexico shelf, Brazil and Canada totaled 113 million BOE. Unocal also made net upward revisions of 80 million BOE because of price effects and reservoir performance. Because of cost recovery provisions in certain production-sharing contracts, reserves increase when prices decline. Production of 193 million BOE and the sale of 5 million BOE in reserves partially offset the increases. For 2001, initial worldwide finding and development costs were $5.39 per BOE. Unocal's preliminary estimated worldwide finding, development and acquisition costs for new reserves were $6.18 per BOE. ------------------------------------------------------------- ENERGY. @ENERGY(r), FEA's Complete Suite of Energy Products, BUILT FOR THE FUTURE. *Manage all your energy risks. *Build and Price deals. *Value physical assets (generation, storage, etc.) *Report and reduce your energy risks FEA FINANCIAL ENGINEERING ASSOCIATES Inc. http://www.fea.com/?cId=17 main phone number:? 1 510-548-6200 email address: info@fea.com ------------------------------------------------------- PHYSICAL GAS PRICES? ? ? Gulf/Eastern Region | Agua Dulce | 1.91 | | ANR SE | 1.98 | | Carthage TG | 1.96 | | Chicago Citygate | 2.04 | | Columbia Gulf Onshore | 2.00 | | Dominion South Point | 2.10 | | Henry Hub | 2.02 | | Houston Ship Channel | 2.02 | | Katy Hub | 1.96 | | NGPL LA Pool | 1.95 | | NGPL - Midcontinent | 1.92 | | NGPL STX | 1.93 | | NGPL TX/OK | 1.94 | | NNG Demarc. | 2.02 | | Niagara | 2.19 | | Sonat Tier 1 | 1.99 | | TCO IPP Pool | 2.11 | | Tetco ELa | 1.99 | | Tetco M-3 | 2.25 | | Tetco STX | 1.93 | | TGP Zone 0 | 1.93 | | TGP Zone 1 (500 Leg) | 1.97 | | TGT Zone SL | 2.00 | | New York Citygate | 2.28 | | Transco Station 65 | 2.05 | | Transco Zone 6 (NY) | 2.28 | | Trunk ELa | 1.99 | | Western Region | California Border | 2.08 | | El Paso Keystone | 1.94 | | El Paso San Juan-Blanco | 1.95 | | Waha Hub | 1.94 | | Canadian/Rockies Region | Nova/Aeco (C$/gig) | 2.83 | | Dawn Hub/Union | 2.15 | | Northwest Stanfield | 2.05 | | Wyoming Pool | 1.88 | | Opal | 1.88 | | PGT-Malin | 2.09 | | Sumas | 2.05 | Flow Date 1/29 ------------------------------------------------------------- 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 ------------------------------------------------------------- Residual Fuel Market Tumbles on Warm Weather The market for residual fuel on the East and Gulf coasts tumbled yesterday on the back of 60-degree weather in New York and 70-degree weather in Houston. A deal for 50,000 barrels of 1.0%-sulfur residual fuel was done in New York Harbor at $14.90 per barrel, down $0.35 per barrel. It is likely the market could be even lower today. The market for 0.3%-sulfur high pour material managed to hold around $16.50 per barrel, but 3.0%-sulfur fuel was down $0.25 per barrel and quoted around $14.00 per barrel. February swaps for 1.0%-material on the East Coast fell $0.40 per to $14.95, while March declined $0.35 to $15.05. Second quarter was quoted in the range of $15.40-$15.50, down $0.30 per barrel. The West Coast market was essentially unchanged despite unusually cold weather, which really isn't a factor since residual fuel is seldom used as a source of power by utilities there. ------------------------------------------------------------- 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 ------------------------------------------------------------- Senate Committee to Vote on Energy Tax Breaks and Incentives The Senate Finance Committee has scheduled a vote on energy tax breaks and incentives. The committee had been considering between $10 billion - $15 billion in tax breaks, but the cost of the war on terrorism and the recession could affect the final amount. Both Republican and Democratic lawmakers are pushing for a tax credit for small, independent well operators that would go into effect when crude prices fall drastically. Supporters say that tax relief is needed because marginal wells account for 20% of US oil production. Even though both the higher fuel economy requirements and the tax breaks will be parts of the Senate's comprehensive energy bill, it is unclear when, or if, the full Senate will vote on the bill. Both sides of the aisle have threatened a filibuster if ANWR language is added to, or deleted from the final bill. The House has already passed an energy bill, which would permit drilling in ANWR and provide over $33 billion in energy tax breaks and incentives. If the Senate passes a bill, a compromise would have to be reached before the legislation could make its way to the presidents desk for his signature. ------------------------------------------------------------- FINANCIAL SUMMARY The TSE 300 lost 15.56 points to 7643.73 The CRB Index fell 1.98 points to 187.87 The US Dollar increased 0.02 points to 119.87 The Dow advanced 25.67 points to 9865.75 The S&P 500 dipped 0.22 points to 1133.06 The Nasdaq was up 6.21 points to 1943.91 March NYMEX Crude Oil climbed 0.06 to 20.05 Canadian-US Exchange rose 0.0046 to 1.6125 ------------------------------------------------------------- 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. 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