Demand Prompts Saudis to Boost June Output Oil Daily (Monday, May 19, 2008) Saudi Arabia said Friday it would increase crude oil production in June by 300,000 barrels per day, but the decision was not made to appease US President George W. Bush during his visit to the kingdom on Friday. Instead, the Saudis said they hatched the plan earlier this month based on their ongoing policy of adjusting output based on customer requests.

Kinder Morgan Opening Rex-West Last Leg Flow to Midwestern Pipes Natural Gas Week (Monday, May 19, 2008) Moving Rockies natural gas supplies as far eastward as central Missouri, the second and final arm of Rockies Express West pipeline is ready to come online, according to project co-owners Kinder Morgan, Sempra and ConocoPhillips.

Oregon Weighs LNG With Rockies Supply; Becomes Campaign Issue Natural Gas Week (Monday, May 19, 2008) Just a few months ago, opposition to three LNG terminals planned off the coast of Oregon was limited to the idea that only one terminal was needed to meet consumer demand. Now, the Oregon Department of Energy, Gov. Ted Kulongoski, and state legislators are on the brink of a new position: markets in Oregon, California and other surrounding states could be best served by pipelines bringing Rockies gas into the Pacific Northwest.

Indonesia Bids to Head Off Wider Fuel Price Protests International Oil Daily (Monday, May 19, 2008) The Indonesian government has confirmed it will raise the price of subsidized fuel by up to 30%, despite the wave of protests that has rippled across the archipelago since it said recently that it was considering the move.

Split Decision Helps EnCana Punch Its Weight Petroleum Intelligence Weekly (Monday, May 19, 2008) In the late 1990s, when oil prices were low, consolidation and mergers were the order of the day. Now, with oil over $120/bbl, it seems the reverse may be true, at least for some. Frustrated by what it sees as the unfairly low stock market valuation of its assets, Canada's EnCana last week announced that it is splitting into two separate companies -- an integrated oil sands and refining business, and a pure-play natural gas business.

Opec Windfall Raises Doubts Over Supply Petroleum Intelligence Weekly (Monday, May 19, 2008) Opec's annual oil revenues are soaring to unprecedented heights and could top $1 trillion within the next year or two. According to PIW estimates, Opec net oil revenues will grow by more than $305 billion this year to $980 billion, assuming an average Opec basket price of about $100/bbl. This huge buildup of cash has implications for both global financial markets and Opec decision-making, and will do much to shape the direction of oil markets in the next few years.

Iran: Charm Mission Energy Compass (Friday, May 16, 2008) For more than a decade before the Baath regime was toppled in 2003, Iraq tried to blunt the effect of UN sanctions by enticing Security Council members with lucrative oil deals. A similar strategy is now being pursued by Iran, which is negotiating multibillion-dollar oil and gas contracts with Russian and Chinese companies. Less overtly, Iran is also offering deals to companies from some of the council's 10 nonpermanent members.

Briefing: Behind the Resource Curse Energy Compass (Friday, May 16, 2008) The run-up in oil prices to more than $120 per barrel is delivering financial windfalls for producing states, and could be reducing poverty or improving the lives of citizens in many nations. Instead, mounting revenues from oil and gas production in Africa and Southeast Asia continue to fuel corruption, economic stagnation, inequality and conflict -- the so-called "resource curse."