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US petroleum data released Wednesday was seen as bullish and the oil price rallied as a result. On the face of it, the US market got a little tighter as overall stock levels fell 5 million barrels from the previous week. Product stocks fell more than expected while crude stocks rose a moderate 1.4 million bbl, which is to be...
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Top articles from all Energy Intelligence Publications:
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Opec Sees World Awash in Oil in Months Ahead
Oil Daily (Thursday, March 11, 2010)
Opec warned on Wednesday that the world is awash in oil and that global crude stocks could rise by 1.1 million barrels per day in the first half of this year, or an additional 200 million barrels, if Opec members do not rein in their output. |
Tullow Talks Up Ugandan Dream Team
International Oil Daily (Thursday, March 11, 2010)
Tullow Oil formally confirmed on Wednesday what markets have known for weeks -- that supermajor Total and CNOOC of China are Tullow's preferred candidates to farm in on the development of its prolific Lake Albert licenses onshore in Uganda. |
Pressure Mounts on Kazakh Oil Chief
Nefte Compass (Thursday, March 11, 2010)
Timur Kulibayev, the billionaire chairman of Kazakhstan's state oil company Kazmunaigas and the son-in-law of President Nursultan Nazarbayev, is coming under mounting pressure as new allegations about his past business dealings come to light. But well-placed Kazakh sources believe the revelations are unlikely to affect Kulibayev's status as the kingpin of the republic's oil and gas industry. |
Russia Strives for Global Pricing Recognition
Nefte Compass (Thursday, March 11, 2010)
Russia is driven by a desire that its standing as a top world oil power should be reflected in how prices are formed in global trading markets. But while its campaign to establish its new Espo crude export grade as an international benchmark shows promise, efforts to turn itself into a leading oil product market look less likely to succeed. |
Venezuelan Output Slides to 2.5 Million b/d in February
Energy Intelligence Briefing (Wednesday, March 10, 2010)
Venezuelan production slid back unexpectedly in February despite continued improvements in Orinoco tar sands upgrading operations. Trade and shipping data from Venezuela's ministry of energy point at crude production for February of 2.527 million barrels per day, down from a estimated 2.669 million b/d in January. The production calculated by EIB is significantly lower than the official production data based on royalty payments that the government provides. |
Shell's Iraq Gains, Risks
World Gas Intelligence (Wednesday, March 10, 2010)
The ever-contentious deal Royal Dutch Shell initially struck in 2008 to gather and market some 700 million cubic feet per day of associated gas from southern Iraqi oil fields that was then being flared, as well as any incremental associated or nonassociated gas from that region, has ballooned in size, cost and controversy since last year's award of oil field contracts to international companies. The deal could produce 5 Bcf/d or more of gas, much of it for export -- or it could fall apart. |
MARKET INSIGHT -- Asia Goes Quiet
World Gas Intelligence (Wednesday, March 10, 2010)
With winter drawing to a close, the Asian spot market has turned quiet. Buyers are becoming relaxed about spot requirements, as they turn their attention to increasingly plentiful Asian, as well as Mideast, volumes in preference to Atlantic Basin cargoes -- suggesting more sellers on that side of the world may soon be seeking out the US as the proverbial destination of last resort. |
Chu: Natural Gas to Serve as Transition Fuel
Oil Daily (Wednesday, March 10, 2010)
Natural gas will play an important role as a transitional fuel as the US seeks to reduce its dependence on imported oil and develop cleaner forms of energy, US Energy Secretary Steven Chu told the Cera Week conference in Houston on Tuesday. |
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