Message-ID: <27852059.1075860894320.JavaMail.evans@thyme> Date: Tue, 29 Jan 2002 22:08:27 -0800 (PST) From: enerfax@msn.com To: enerfaxgold@yahoogroups.com Subject: Enerfax Gas, Oil, Liquids,Derivatives' prices & info (text) Crude Oil Futures Slip After 6-Day Rally 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\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 Wednesday, January 30 2002? No. 472 Visit our website at: http://www.enerfaxgold.com PETROLEUM PRICES ??? | Bonny Light | $19.52 | Brent | $19.39 | Butane | $ 0.36 | Fuel Oil #2 | $ 0.52 | Louisiana | $20.00 | Medit. | $17.59 | Propane Non-tet | $ 0.29 | Propane Wet-tet | $ 0.29 | W. Tx Int Cush | $19.58 | W. Tx Sour | $18.25 | Euro in US equiv | 0.8655 ------------------------------------------------------------- Todays Petro Bulletins * Valero 4th Quarter Earnings Fall 45% * API Says Gulf Coast Gasoline Stocks Up 2.661 Million Barrels Last Week * API Says Crude Oil Stocks Up 0.027 Million Barrels Last Week * Stock Build Cuts Down Recent Oil Price Rally * Unocal Posts 4th Quarter Loss of $29 Million After Charges * Petro-Canada Appoints Norman McIntyre New President; Ron Brenneman Continues as Chief Executive Officer * EOG Resources Has $27.6 Million 4th Quarter Loss, Including $19.2 Million Enron Charge ------------------------------------------------------------- ENERGY MANAGEMENT INSTITUTE Higher Education for refined product professionals NOW ENROLLING RISK MANAGEMENT COURSES: PROFESSIONAL GASOLINE AND DISTILLATE MANAGEMENT, PETROLEUM MARKETER, and ADVANCED GASOLINE AND DISTILLATE MASTER LEVEL. REGISTER NOW, CLASS SIZES ARE LIMITED. SEE COMPLETE DETAILS CLICK HERE: http://www.energyinstitution.org -------------------------------------------------------------- NYMEX - NY Harbor Heating Oil? ? ? ? ? ? Month ??High ??Low? ? Last ? Change Feb 02 0.5270 0.5190 0.5205 -0.0108 Mar 02 0.5290 0.5200 0.5221 -0.0099 Apr 02 0.5305 0.5240 0.5251 -0.0089 May 02 0.5340 0.5281 0.5281 -0.0089 Jun 02 0.5380 0.5325 0.5326 -0.0089 Jul 02 0.5445 0.5386 0.5386 -0.0084 Aug 02 0.5510 0.5466 0.5466 -0.0079 Sep 02 0.5580 0.5556 0.5556 -0.0079 Oct 02 0.5700 0.5646 0.5646 -0.0079 Nov 02 0.5780 0.5726 0.5726 -0.0079 ------------------------------------------------------------- NYMEX Crude Oil Futures ($ / Barrel) Month ?Open ?High ??Low ?Last Change Mar 02 19.75 19.80 19.48 19.58 -0.47 Apr 02 20.07 20.12 19.81 19.91 -0.43 May 02 20.20 20.28 20.00 20.08 -0.40 Jun 02 20.35 20.40 20.15 20.19 -0.37 Jul 02 20.38 20.38 20.20 20.22 -0.34 Aug 02 20.40 20.40 20.20 20.24 -0.32 Sep 02 20.50 20.50 20.23 20.25 -0.32 Oct 02 20.45 20.45 20.27 20.27 -0.31 Nov 02 20.30 20.45 20.29 20.29 -0.30 Dec 02 20.57 20.57 20.31 20.31 -0.29 ------------------------------------------------------------- Crude Oil Futures Slip After 6-Day Rally Crude oil futures for March delivery on the NYMEX slipped $0.47 to $19.58 per barrel, ending a 6-day rally amid forecasts of another weekly build in crude oil inventories. Many expected the API to report that crude oil stocks increased by 1.3 million barrels for the week ended January 25th. In general, the expectations for inventory builds across the petroleum board were strong. Earlier in the week, some support for the market was found in a report by Petrologistics that the 10 OPEC countries with quotas trimmed output by 1.4 million bpd, not far from the cartel's pledge to lower production by 1.5 million bpd. But prices were pressured downward yesterday after a survey by Dow Jones that contends the cartels production in January, excluding Iraq, will be 22.78 million barrels, more than 1 million barrels above its new quota of 21.7 million barrels. February heating oil and gasoline futures on the NYMEX, which are expire on Thursday, came under increased selling pressure. Heating oil for February delivery on the NYMEX dropped $0.0108 to $0.5205 per gallon. February gasoline futures on the NYMEX fell $0.0142 to $0.5669 per gallon. In London, Brent crude oil futures for March delivery on the IPE were down $0.41 to $19.24 per barrel API Report for Week Change from Week Change from Week Ending 1/25/02 Ending 1/18/02 Ending 1/26/01 CRUDE.........315.00 MLN UP 0.03 MLN UP 32.19 MLN DISTILLATE....141.44 MLN DOWN 0.15 MLN UP 28.45 MLN GASOLINE......216.10 MLN UP 2.74 MLN UP 9.36 MLN HEATING OIL... 60.75 MLN UP 1.12 MLN UP 14.36 MLN UTILIZATION... 85.8% DOWN 2.6% DOWN 4.7% ------------------------------------------------------------- ???????????????????? NYMEX Henry Hub Natural Gas Futures 12 Month Strip ?2.4381 +0.0657 ? ? ? 18 Month Strip ?2.5883 +0.0617 ? ? | Month | High | Low | Close | Change | | FEB | 2.080 | 1.910 | 2.006 | +0.098 | | MAR | 2.090 | 2.010 | 2.067 | +0.083 | | APR | 2.180 | 2.100 | 2.150 | +0.071 | | MAY | 2.270 | 2.200 | 2.240 | +0.065 | | JUN | 2.350 | 2.280 | 2.320 | +0.065 | | JUL | 2.395 | 2.350 | 2.393 | +0.063 | | AUG | 2.445 | 2.390 | 2.453 | +0.063 | | SEP | 2.455 | 2.420 | 2.458 | +0.059 | | OCT | 2.480 | 2.450 | 2.488 | +0.059 | | NOV | 2.720 | 2.690 | 2.718 | +0.054 | | DEC | 2.930 | 2.900 | 2.933 | +0.054 | | JAN | 3.025 | 3.000 | 3.031 | +0.054 | ------------------------------------------------------------- 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 Earnings Tumble Economic recession, high product inventories and mild weather have cut 4th quarter profits at oil refineries, despite lower crude oil prices. Valero Energy says January's profit margins were even weaker than those posted in the 4th quarter, when margins declined 40% from last year. Valero reported net income fell 45% to $51.6 million, or $0.82 per share, compared with $93.3 million, or $1.47 per share. in the prior year's 4th quarter. Marathon Oil also says profits from its 62% stake in MAP, a joint downstream venture with Ashland, fell on lower refining and wholesale marketing gross profit margins. Last Friday, Ashland reported earnings from refining and marketing fell about 32% on lower profit margins. Marathon says 4th quarter refining, marketing and transportation income was $221 million, compared with the $305 million a year ago. Including all operations, Marathon posted a loss before special items of $898 million, or $2.90 per share, compared with a loss of $310 million, or $1 per share, in the year-ago period. After adjustments for special items, Marathon's net income was $98 million, or $0.32 per share, compared with $386 million, or $1.25 per share, a year ago. ------------------------------------------------------------- ??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 ????? ------------------------------------------------------------- Petro-Canada Buys Veba Assets from BP Petro-Canada is buying the exploration and production assets of Germany's Veba Oil & Gas from BP in a C$3.2 billion deal that will be funded by debt. The cash deal brings Petro-Canada assets in the North Sea, North Africa and South America. It opens the door to a host of new international prospects in concentrated areas. The transaction is expected to increase Petro-Canada's earnings and cash flow per share immediately, allowing it to fund growth and pay down the debt it is taking on. It is Canada's 4th largest oil producer, refiner and gasoline marketer by stock market value. Last year it bought Lundin Oil's Libyan assets to complement its Algerian holdings. It is best known for natural gas and oil sands assets in Western Canada, stakes in offshore projects on the East Coast and a national chain of gasoline stations. Petro-Canada beat out Australia's Woodside Petroleum for the assets. Veba produces 175,000 barrels of oil equivalent per day and has proved reserves of 600 million barrels. The addition will increase Petro-Canada's reserves by 71% to 1.4 billion barrels of oil equivalent, and output 78% to 400,000 barrels of oil equivalent per day. In North Africa, Veba has production in Libya and Syria and a small position in Egypt. ------------------------------------------------------------- IPE-Brent Crude futures (US $/barrel) Month ?First ?High ?Low ??Sett ?Chg MAR 02 19.40 19.40 19.08 19.24 -0.41 APR 02 19.51 19.54 19.26 19.45 -0.35 MAY 02 19.65 19.66 19.40 19.54 -0.36 JUN 02 19.48 19.57 19.34 19.45 -0.36 JUL 02 19.46 19.57 19.34 19.46 -0.33 AUG 02 19.45 19.58 19.45 19.49 -0.33 SEP 02 19.44 19.60 19.44 19.52 -0.32 OCT 02 19.55 19.55 19.55 19.55 -0.31 NOV 02 19.58 19.58 19.58 19.58 -0.29 DEC 02 19.62 19.65 19.51 19.61 -0.27 ------------------------------------------------------------- NYMEX-Mont Belvieu Propane Gas Futures($ / Gallon) Month ? ?High ??Low ??Last ? Change Feb 02 0.0000 0.0000 0.2915 -0.0035 Mar 02 0.0000 0.0000 0.2890 -0.0035 Apr 02 0.0000 0.0000 0.2910 -0.0015 May 02 0.0000 0.0000 0.2935 -0.0015 Jun 02 0.0000 0.0000 0.3000 +0.0000 Jul 02 0.0000 0.0000 0.3100 +0.0000 Aug 02 0.0000 0.0000 0.3150 +0.0000 Sep 02 0.0000 0.0000 0.3200 +0.0000 Oct 02 0.0000 0.0000 0.3240 +0.0000 Nov 02 0.0000 0.0000 0.3250 +0.0000 ------------------------------------------------------------- ChevronTexaco Posts 4th Quarter Loss ChevronTexaco has posted a 4th quarter loss, mainly due to write- offs of $1.85 billion in assets because of lower oil and natural gas prices and $1.17 billion for merger costs. ChevronTexaco had a loss of $2.52 billion, or $2.36 per share, compared to net income of $2.04 billion, or $1.92, a year ago, based on the combined pre-merger reports of Chevron and Texaco. Revenue fell by 33% to $21.5 billion from $32.3 billion. Earnings from oil and natural gas production tumbled 73% to $544 million from $2.05 billion. Refining profit margins dropped 45%. Merger expenses, estimated to be about $1.5 billion through 2003, climbed because of higher costs associated with workforce reductions. ChevronTexaco has cut about 2,000 jobs out of the 4,500 it has planned. Merger expenses of $1.17 billion included about $700 million for the workforce reduction, $300 million for the relocation and closing of offices, and $150 million from the sale of assets. It now expects its total costs from the $45.8 billion merger to rise by a third to $2 billion. ChevronTexaco also wrote-off the $100 million cost of a computer program. In the 4th quarter, ChevronTexaco's oil and natural gas production climbed to 1.8 million barrels of oil equivalent per day from 1.74 million. Income from refining, marketing and transportation business slid 57% to $215 million from $498 million. The price ChevronTexaco received for its oil was down 39% to $16.95 in the 4th-quarter and natural gas fell to $2.27 per MMcf from $5.62. Sales of gasoline and refined products slipped 3% to 1.65 million bpd. Operating losses from ChevronTexaco's chemical joint venture with Phillips Petroleum increased to $17 million last quarter from $13 million a year ago, due to a drop in chemical profit margins. The company wrote down the value of oil and natural gas producing properties by $1.4 billion because of a price drop in the quarter. It also lowered the value of assets in its chemical unit and properties that were deemed as unprofitable to develop by $452 million. Excluding special items, ChevronTexaco's 4th quarter earnings would have been $498 million, or $0.47 per share, almost half of analysts average estimates of $0.90 per share. ------------------------------------------------------------- IPE - ARA Gas Oil Futures $ / Tonne Month ??High ??Low ???Sett ?Change FEB 02 163.75 160.75 161.50 - 2.50 MAR 02 163.25 161.25 162.00 - 2.25 APR 02 165.00 163.00 163.50 - 1.25 MAY 02 165.75 165.00 165.50 - 0.50 JUN 02 168.25 166.50 167.25 - 0.25 JUL 02 169.00 169.00 169.00 - 0.25 AUG 02 171.00 170.50 171.00 + 0.00 SEP 02 173.00 172.75 173.00 + 0.25 OCT 02 175.00 175.00 175.00 + 0.75 NOV 02 176.25 176.25 176.25 + 1.00 ------------------------------------------------------------- NY HARBOR UNLEADED GAS FUTURES Month? ?High ? Low ???Last ??Change Feb 02 0.5730 0.5610 0.5669 -0.0142 Mar 02 0.5820 0.5690 0.5757 -0.0133 Apr 02 0.6495 0.6390 0.6440 -0.0123 May 02 0.6540 0.6460 0.6508 -0.0117 Jun 02 0.6560 0.6500 0.6526 -0.0112 Jul 02 0.6480 0.6460 0.6480 -0.0106 Aug 02 0.6375 0.6368 0.6368 -0.0098 Sep 02 0.6200 0.6186 0.6186 -0.0095 Oct 02 0.5921 0.5815 0.5921 +0.0106 Nov 02 0.5836 0.5810 0.5836 +0.0000 -------------------------------------------------------------- Marathon Posts $898 Million Loss Marathon Oil has reported a 4th quarter loss of $898 million, or $2.90 per share, from $310 million or $1 per share a year ago, as a weak economy and mild temperatures sliced demand for oil and natural gas. Revenue fell to $6.85 billion from $8.05 billion, or 15%. Marathon, was split into a separate company after parent USX spun off its steel business. USX changed its name to Marathon and will focus on oil and natural gas production and refining. It took charges of $996 million in the 4th quarter, mainly due to its split from USX's steel business. Excluding the charges, profit would have been $98 million, or $0.32 per share. The average estimate of analysts was $0.41. Profit from oil and natural gas production plunged 71% to $117 million. Earnings from refining crude oil, transportation and marketing dropped 28%, to $221 million. ------------------------------------------------------------- ENERGY. @ENERGY(r), FEA's Complete Suite of Energy Products, BUILT FOR THE FUTURE. *Manage all your energy risks. *Build and Price deals. *Value physical assets (generation, storage, etc.) *Report and reduce your energy risks FEA FINANCIAL ENGINEERING ASSOCIATES Inc. http://www.fea.com/?cId=17 main phone number:? 1 510-548-6200 email address: info@fea.com ------------------------------------------------------------- PHYSICAL GAS PRICES? ? ? Gulf/Eastern Region | Agua Dulce | 1.90 | | ANR SE | 1.96 | | Carthage TG | 1.95 | | Chicago Citygate | 2.01 | | Columbia Gulf Onshore | 1.97 | | Dominion South Point | 2.10 | | Henry Hub | 1.97 | | Houston Ship Channel | 2.01 | | Katy Hub | 1.95 | | NGPL LA Pool | 1.92 | | NGPL - Midcontinent | 1.90 | | NGPL STX | 1.92 | | NGPL TX/OK | 1.91 | | NNG Demarc. | 1.99 | | Niagara | 2.17 | | Sonat Tier 1 | 1.96 | | TCO IPP Pool | 2.08 | | Tetco ELa | 1.96 | | Tetco M-3 | 2.27 | | Tetco STX | 1.92 | | TGP Zone 0 | 1.92 | | TGP Zone 1 (500 Leg) | 1.95 | | TGT Zone SL | 1.97 | | New York Citygate | 2.32 | | Transco Station 65 | 2.05 | | Transco Zone 6 (NY) | 2.32 | | Trunk ELa | 1.95 | | Western Region | California Border | 2.07 | | El Paso Keystone | 1.94 | | El Paso San Juan-Blanco | 1.95 | | Waha Hub | 1.93 | | Canadian/Rockies Region | Nova/Aeco (C$/gig) | 2.73 | | Dawn Hub/Union | 2.12 | | Northwest Stanfield | 2.00 | | Wyoming Pool | 1.84 | | Opal | 1.86 | | PGT-Malin | 2.05 | | Sumas | 2.00 | Flow Date 1/30 ------------------------------------------------------------- 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 ------------------------------------------------------------- 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 ------------------------------------------------------------- FINANCIAL SUMMARY The TSE 300 lost 76.59 points to 7567.14 The CRB Index fell 0.56 points to 187.31 The US Dollar decreased 0.49 points to 119.38 The Dow declined 247.51 points to 9618.24 The S&P 500 dipped 32.42 points to 1100.64 The Nasdaq was down 50.92 points to 1892.99 March NYMEX Crude Oil dropped 0.47 to 19.58 Canadian-US Exchange slid 0.0221 to 1.5904 ------------------------------------------------------------- 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/