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India Aims to Cut Iran Imports

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Oil Daily
Wed., May. 16, 2012
Under pressure from the US to cut its Iranian oil imports, India said Tuesday that it aimed to buy 11% less crude from Iran in the fiscal year that began last month. However, Washington said India would need to do more in order to win an exemption from US sanctions set to take effect at the end of June

Anadarko Makes Another Big Gas Find Offshore Mozambique

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Oil Daily
Wed., May. 16, 2012
US independent Anadarko has made a further massive natural gas discovery in a new sector of Mozambique's deepwater Rovuma Basin, announcing Tuesday that the Golfinho area in Offshore Area 1 holds between 13 trillion cubic feet and 45 Tcf of gas in place.

Latest Market Trends May 15, 2012

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Oil Daily
Wed., May. 16, 2012
Graphs showing recent movements in oil and natural gas futures prices and the EIF index of oil and gas company stock prices.

Stock Market Scorecard May 15, 2012

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Oil Daily
Wed., May. 16, 2012
Stock price movements for leading companies in various subsectors of the oil and gas industry.

Daily Oil and Gas Price Review May 15, 2012

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Oil Daily
Wed., May. 16, 2012
Overview of domestic and international spot and futures prices for crude oil, refined petroleum products and natural gas.

Shell-Led Group Firms Up Plans to Export LNG From Canada

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Oil Daily
Wed., May. 16, 2012
Backed by a trio of companies from Asian countries that are the world's three largest consumers of liquefied natural gas, Shell Canada is firming up plans for a multibillion-dollar LNG export terminal in the small British Columbia seaport of Kitimat.

Repsol Starts YPF Dispute Procedure

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Oil Daily
Wed., May. 16, 2012
Repsol has taken initial steps to sue Argentina after the government seized a majority controlling equity stake in the firm’s formerly 57.4%-owned local YPF affiliate.

Total Performs Elgin Top Kill

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Oil Daily
Wed., May. 16, 2012

Rating Downgrade is Latest Setback for Chesapeake

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Oil Daily
Wed., May. 16, 2012
Chesapeake Energy suffered another blow on Tuesday, when Standard & Poor's downgraded the US gas giant's credit rating for the second time in less than a month. It also maintained a negative outlook for Chesapeake's rating moving forward.

Brent Rises, Nymex Crude Falls as Euro Sinks to Four-Month Low

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Oil Daily
Wed., May. 16, 2012
ICE Brent and Nymex/WTI crude oil futures went their separate ways on Tuesday as the euro collapsed against the dollar. Wednesday’s expiry of the Brent contract, combined with the euro's weakness gave the European crude benchmark a slight lift while the Nymex/WTI contract slid towards a crucial support level.

BP Explores Offshore Trinidad

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Oil Daily
Wed., May. 16, 2012
BP Trinidad and Tobago (BPTT) plans to explore new, deep Atlantic waters for oil and gas resources following the signing of two production sharing contracts with the Caribbean state's government.

US Tight Oil Revolution Moves From Exploration to Exploitation

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Oil Daily
Wed., May. 16, 2012
US tight oil plays have moved beyond the phase of acreage acquisition and initial testing, with companies now focusing on detailed development plans, industry executives told the Hart Energy unconventional oil conference in Denver on Tuesday.

North Dakota Overtakes Alaska

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Oil Daily
Wed., May. 16, 2012
North Dakota became the second largest producer of crude oil in the US in March as its output overtook that of Alaska, according to data released by both states. Texas remains the nation's biggest crude producer by far.

US Oil Industry Seeks to Shape Debate About Energy Policy

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Oil Daily
Wed., May. 16, 2012
Seeking to make its voice heard in the debate about energy policy in this year's US presidential race, the oil industry's top lobbying group submitted a wish list on Tuesday to the committees that craft the policy platforms for the two major US political parties.

Brazil's OGX Doubles Output

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Oil Daily
Wed., May. 16, 2012
Brazilian oil start-up OGX said its daily oil output would double to 23,000 barrels from Tuesday as a new well was brought on line in its offshore Waimea complex where the company produced its first ever crude in late January.

CNR Charged in Gas Release

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Oil Daily
Wed., May. 16, 2012
The Alberta government said it has charged Canadian Natural Resources (CNR) with releasing poisonous hydrogen sulfide gas from its Horizon oil sands plant two years ago and failing to report the incident.

Sinopec to Start Shale Output

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Oil Daily
Wed., May. 16, 2012
State Sinopec will start commercial production at its first shale gas project in the Fuling district, southeast of the Sichuan Basin this year, according to the state-owned Assets Supervision and Administration Commission Tuesday.

Excelerate Provides More Details About US Floating LNG Project

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Oil Daily
Wed., May. 16, 2012
Excelerate Energy has provided further details of its Lavaca Bay LNG project, the first floating liquefaction facility proposed in the US.

Market Comment: Chinese Crude Imports Feel Pull Of Gravity

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EI Finance
Wed., May. 16, 2012
Is the Chinese dragon finally starting to feel the downward tug of a cooling economy?

Energy and Equity Market Data

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EI Finance
Wed., May. 16, 2012
How share prices of international oil, gas and service companies fared this week.

Shell, Chevron Win Ukraine Shale

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EI Finance
Wed., May. 16, 2012
Royal Dutch Shell and Chevron have won tenders to explore and develop shale acreage in Ukraine, putting the official stamp on a project Kiev hopes over time will diminish its dependence on Russian gas.

Japan Nationalizes Tepco

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EI Finance
Wed., May. 16, 2012
The Japanese government approved a restructuring plan last week for Tokyo Electric Power Co. (Tepco) that will effectively nationalize the beleaguered firm as the government takes ownership of more than 50% of Tepco's voting rights.

Briefing: Statoil, Repsol Lead the Euro Pack in First Quarter

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EI Finance
Wed., May. 16, 2012
The seven leading European integrated oil majors hoisted first-quarter revenues across the group by around 16.7%, to over $397 billion, while adjusted profits climbed 15.39% to $24.5 billion due to generally buoyant upstream earnings on the back of higher realized oil prices.

European Utility Profits Suffer

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EI Finance
Wed., May. 16, 2012
Several European utilities reported lower profits last week, with gas import margins squeezed and German generators continuing to suffer Berlin's policy of accelerating the phaseout of nuclear plants.

Pioneer's Vertical Integration Still a Winner

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EI Finance
Wed., May. 16, 2012
Price declines in fracking don't mean the E&P was wrong to build up its own capacity in-house.

Qatar Adds IOC Stakes to Shopping Spree

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EI Finance
Wed., May. 16, 2012
Shareholdings in Royal Dutch Shell and Total are among the latest acquisitions for the tiny, cash-flush country leading global LNG exports.

Chesapeake's Financial Health Remains Tenuous

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EI Finance
Wed., May. 16, 2012
Liquidity concerns have come to a head for US gas giant Chesapeake Energy, who sits exposed to the whims of financial institutions and the M&A market.

Genel Expands Kurdistan Acreage

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EI Finance
Wed., May. 16, 2012
UK-listed, Anglo-Turkish Genel Energy is increasing its acreage in the semiautonomous Kurdistan region of northern Iraq with the $175 million acquisition of Petoil Petroleum's 23% stake in the Bina Bawi exploration license, adjacent to Genel's already-producing Taq Taq oil field.

Editorial: Atlantic Basin Refining: Crisis -- Or Opportunity?

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EI Finance
Wed., May. 16, 2012
This looks a crunch week for Atlantic Basin refining, as the Petroplus bankruptcy continues to reverberate through the sector.

Shell Looks Sure of East African Cove

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EI Finance
Wed., May. 16, 2012
Mozambican government approval for its takeover marks another key hurdle cleared for Shell's buy in to one of the most prolific exploration hotspots currently on the radar.

EC OKs French Takeover of Edison

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EI Finance
Wed., May. 16, 2012
The European Commission said May 11 it has cleared EDF's acquisition of a controlling 80% stake in leading Italian energy group Edison.

Survey: M&A Appetite Slowing

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EI Finance
Wed., May. 16, 2012
A survey by advisory firm Ernst & Young shows that oil and gas executives have less appetite for acquisitions than they did six months ago even as they acknowledge an improved deal-making environment and espouse greater faith in the global economic recovery.

Huge US Loan for APLNG

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EI Finance
Wed., May. 16, 2012
The US Export-Import Bank has authorized a $2.95 billion direct loan to support US exports to the Australia Pacific LNG (APLNG) liquefaction project in Queensland, Australia.

Spot LNG: Spot LNG Exporter Netbacks at Key Markets Worldwide

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World Gas Intelligence
Wed., May. 16, 2012
Spot LNG Exporter Netbacks at Key Markets Worldwide, calculated in part on the basis of WGI price assessments for Southwest Europe and Northeast Asia.

MARKET INSIGHT: European Border Price Estimates

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World Gas Intelligence
Wed., May. 16, 2012
WGI's own calculations of European border price estimates.

Current: Gas and Power Prices for Major US and European Hubs

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World Gas Intelligence
Wed., May. 16, 2012
Gas and power prices for major US and European hubs.

Market Insight: US and UK Gas Futures Prices

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World Gas Intelligence
Wed., May. 16, 2012
Gas futures prices in the US and the UK.

Anadarko Enlarges Mozambique Gas Haul

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World Gas Intelligence
Wed., May. 16, 2012
Mozambique's deepwater Rovuma Basin has delivered yet another stunning exploration result for US Anadarko.

Shah Deniz Grapples With Price Conundrum

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World Gas Intelligence
Wed., May. 16, 2012
As the Shah Deniz partners lay the groundwork for expansion, the big question is how the gas will be priced.

Big Names Flock to Cyprus Round

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World Gas Intelligence
Wed., May. 16, 2012
Cyprus will have plenty of LNG experience to draw on should significant gas finds follow awards in its new offshore licensing round.

CARBON: PV Dominates Rival CSP Technology in US Solar Wars

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World Gas Intelligence
Wed., May. 16, 2012
A huge drop in the price of solar photovoltaic (PV) panels is prompting some US firms to switch out of the rival concentrated solar power (CSP) technology.

Peru Gas Deal Opens Gateway to South

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World Gas Intelligence
Wed., May. 16, 2012
An agreement with Camisea producers will allow Peru to push ahead with schemes to benefit the impoverished south.

MARKET INSIGHT: Scant Evidence of European Upswing

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World Gas Intelligence
Wed., May. 16, 2012
Results from five big European utilities show gas demand remains depressed by high import prices and a mild winter.

First Tanker for Angola LNG

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World Gas Intelligence
Wed., May. 16, 2012
Angola LNG is about to launch, receiving its first tanker for test runs at the 5.2 million ton/yr plant.

Spot LNG: Northeast Asian Prices Remain Flat, Rise in Europe

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World Gas Intelligence
Wed., May. 16, 2012
Spot prices have stayed flat in Northeast Asia as buyers largely remain on the sidelines.

Shift From Coal to Aid US Gas Producers

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World Gas Intelligence
Wed., May. 16, 2012
Majors hit by exceptionally low US natural gas prices in the first quarter could be helped by power producers' shift away from coal.

Australian LNG Under Threat

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World Gas Intelligence
Wed., May. 16, 2012
Mounting opposition to Australian coalbed methane developments could hinder LNG export plans.

CURRENT: France May Soften on Nuclear After Greens Do Badly

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World Gas Intelligence
Wed., May. 16, 2012
New French President Francois Hollande may soften his anti-nuclear policy over concerns about job losses and replacement fuels.

HORIZON: Japan Looks to Nuclear Alternatives as Summer Approaches

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World Gas Intelligence
Wed., May. 16, 2012
Japan faces power shortfalls this summer unless some nuclear reactors restart.

US LNG Producers Too Ambitious on Price

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World Gas Intelligence
Wed., May. 16, 2012
US gas producers may hope to sell LNG on oil-indexed or National Balancing Point-equivalent prices -- but Latin American buyers certainly don't want to pay that much.

Four-Month Low for Euro Sinks Nymex, Boosts Brent

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International Oil Daily
Wed., May. 16, 2012
ICE Brent and Nymex/WTI crude oil futures went their separate ways on Tuesday as the euro collapsed against the dollar. Wednesday’s expiry of the Brent contract, combined with the euro's weakness gave the European crude benchmark a slight lift while the Nymex/WTI contract slid towards a crucial support level.

Chesapeake Rating Downgraded Again

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International Oil Daily
Wed., May. 16, 2012
Chesapeake Energy suffered another blow on Tuesday, when Standard & Poor's downgraded the US gas giant's credit rating for the second time in less than a month. It also maintained a negative outlook for Chesapeake's rating moving forward.

BP Plans Trinidad and Tobago Exploration

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International Oil Daily
Wed., May. 16, 2012
BP Trinidad and Tobago (BPTT) plans to explore new, deep Atlantic waters for oil and gas resources following the signing of two production sharing contracts with the Caribbean state's government.

Daily Oil and Gas Price Review May 15, 2012

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International Oil Daily
Wed., May. 16, 2012
Overview of domestic and international spot and futures prices for crude oil, refined petroleum products and natural gas.

Latest Market Trends May 15, 2012

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International Oil Daily
Wed., May. 16, 2012
Graphs showing recent movements in oil and natural gas futures prices and the EIF index of oil and gas company stock prices.

Stock Market Scorecard May 15, 2012

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International Oil Daily
Wed., May. 16, 2012
Stock price movements for leading companies in various subsectors of the oil and gas industry.

India Aims to Cut Iran Oil Imports by 11%

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International Oil Daily
Wed., May. 16, 2012
Under pressure from the US to cut its Iranian oil imports, India said Tuesday that it aimed to buy 11% less crude from Iran in the fiscal year that began last month. However, Washington said India would need to do more in order to win an exemption from US sanctions set to take effect at the end of June.

Repsol Moves to Sue Argentina Over YPF Seizure

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International Oil Daily
Wed., May. 16, 2012
Repsol has taken initial steps to sue Argentina after the government seized a majority controlling equity stake in the firm’s formerly 57.4%-owned local YPF affiliate.

Turkey, Azerbaijan to Finalize Tanap Deal

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International Oil Daily
Wed., May. 16, 2012
Azerbaijan and Turkey should complete work by the end of this month on an intergovernmental agreement to build the Trans-Anatolian Pipeline (Tanap) to carry gas from the BP-operated Shah Deniz field to Europe. According to Vagif Aliyev, head of the investment division of Azeri state Socar, a host government agreement is to be signed simultaneously.

Novatek Slams Tax Hike

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International Oil Daily
Wed., May. 16, 2012
Top Russian gas independent Novatek said Tuesday it would continue to fight mineral extraction tax (MET) hikes proposed by the finance ministry that have led analysts to drastically downgrade the company’s earning potential.

Total Performs Elgin Top Kill

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International Oil Daily
Wed., May. 16, 2012
Total has started the operation to plug the gas leak at its Elgin platform in the UK North Sea by pumping heavy mud into the G4 well from a support vessel, the company said on Tuesday.

Mozambique Gas Haul Nears 100 Tcf

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International Oil Daily
Wed., May. 16, 2012
US independent Anadarko has made a further massive natural gas discovery in a new sector of Mozambique’s deepwater Rovuma Basin, announcing Tuesday that the Golfinho area in Offshore Area 1 holds between 13 trillion cubic feet and 45 Tcf of gas in place.

Bankers Sinks on Albanian Woes

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International Oil Daily
Wed., May. 16, 2012
Shares in Bankers Petroleum plunged 34% on Monday as investors lost patience with the Calgary-based company's failed attempts to meet its production targets at its oil fields in Albania.

UAE Joins Gas Export Forum

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International Oil Daily
Wed., May. 16, 2012
The United Arab Emirates has joined the Gas Exporting Countries Forum (GECF), according to the state news agency Wam.

Calvalley Boss Under Investigation

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International Oil Daily
Wed., May. 16, 2012
The chairman and chief executive of Calgary-based Calvalley Petroleum is under investigation for insider trading, which is alleged to have taken place in March 2009.

Profits Up, Output Down for KMG EP

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International Oil Daily
Wed., May. 16, 2012
Kazakh oil producer Kazmunaigas Exploration Production (KMG EP) saw its first-quarter net profit rise 27% thanks to high oil prices.

Dana Strikes Twice in Egypt

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International Oil Daily
Wed., May. 16, 2012
Korea-owned Dana Petroleum announced Tuesday the results of two successful exploration wells in North Zeit Bay concession in Egypt.

Market Eye: UK Jet Spike Highlights Olympic Supply Crunch

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International Oil Daily
Wed., May. 16, 2012
The UK's jet fuel market looks to be sizzling ahead of the anticipated boom in air traffic around the Queen's Diamond Jubilee and London 2012 Olympics, plus the potentially imminent closure of Petroplus' 220,000 barrels per day UK Coryton refinery

Shell Looks Beyond Pearl for New Opportunities in Qatar

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International Oil Daily
Wed., May. 16, 2012
Already the largest foreign investor in Qatar, Royal Dutch Shell stands ready to invest even more in the gas-rich country, given the right opportunity, Shell's new Qatar head Wael Sawan told International Oil Daily in an interview in Doha this week.

ONGC to Exit South China Sea Block

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International Oil Daily
Wed., May. 16, 2012
India’s Oil and Natural Gas Corp. (ONGC) is set to exit the controversial Block 128 in the South China Sea, Indian media reported Tuesday.

South Korean LNG Imports Up

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International Oil Daily
Wed., May. 16, 2012
South Korea bought 2.72 million tons of LNG in April, up 14.8% from a year ago, customs data showed Tuesday. Average prices jumped 25.2% year-on-year to $15.21/MMBtu.

CBM-LNG Expansions May Have to Wait in Australia

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International Oil Daily
Wed., May. 16, 2012
Expansion plans for the coalbed methane (CBM)-to-LNG plants currently under construction in Australia's Queensland may have to wait as operators deal with opposition to the accelerated development of the CBM industry in the state. Many firms also need more time to secure additional reserves to feed the plants.

Sinopec Plans First Shale Output

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International Oil Daily
Wed., May. 16, 2012
State Sinopec will start commercial production at its first shale gas project in the Fuling district, southeast of the Sichuan Basin this year, according to the state-owned Assets Supervision and Administration Commission Tuesday.

Taiwan Resumes Iran Imports

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International Oil Daily
Wed., May. 16, 2012
Taiwan resumed imports from Iran in March with intake of 95,600 b/d after not taking any Iranian supplies in February, according to data from the Energy Bureau.

Gov't-Industry Alliance to Help Tepco in Australia

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LNG Intelligence
Wed., May. 16, 2012
With government help, Tepco will finally get a piece of Wheatstone.

Blackstone Signs on at Sabine Pass

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LNG Intelligence
Wed., May. 16, 2012
Blackstone Group puts $1.5 billion into Cheniere's US LNG export project.

Korea Gas in Canadian LNG Plant Project

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LNG Intelligence
Wed., May. 16, 2012
Kitimat export deal taking shape.

China to Consume 260 Bcm by 2015

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LNG Intelligence
Wed., May. 16, 2012
Natural gas use to double.

Sinopec Plans First Shale Output

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LNG Intelligence
Wed., May. 16, 2012
Sinopec will start commercial production at its first shale gas project in the Fuling district.

CBM-LNG Expansions May Have to Wait in Australia

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LNG Intelligence
Wed., May. 16, 2012
Operators are dealing with opposition to the accelerated growth of the CBM industry.

South Korean LNG Imports Up

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LNG Intelligence
Wed., May. 16, 2012
South Korea bought 2.72 million tons of LNG in April, up 14.8% from a year ago.

Shell Looks Beyond Pearl

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LNG Intelligence
Wed., May. 16, 2012
Already the largest foreign investor in Qatar, Shell stands ready to invest even more.

UAE Joins Gas Forum

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LNG Intelligence
Wed., May. 16, 2012
The UAE is to be the 13th member of the GECF.

Mozambique Gas Haul Nears 100 Tcf

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LNG Intelligence
Wed., May. 16, 2012
Golfinho gas discovery boosts regional totals again.

Repsol Eyes Australian Gas After Argentina Setback

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LNG Intelligence
Wed., May. 16, 2012
Repsol is now focused on "contract sanctity and more stability."

InterOil: LNG Project Can Be Saved

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LNG Intelligence
Wed., May. 16, 2012
InterOil says it has the support of the Prime Minister.

Bentek Energy's Gas Metrics US LNG Imports

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LNG Intelligence
Wed., May. 16, 2012
Bentek Energy's Gas Metrics US LNG Imports

LNG Market Indicators

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LNG Intelligence
Wed., May. 16, 2012
LNG Market Indicators for May 16 2012

LNG Netbacks at Key Receiving Terminals

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LNG Intelligence
Wed., May. 16, 2012
LNG Netbacks at Key Receiving Terminals for May 16 2012

Racing to Market

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LNG Intelligence
Wed., May. 16, 2012
Several of the major players were heard from on Tuesday.

Forecasters See Modest Demand Growth, Diverge on Iran's Output

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Energy Intelligence Briefing
Tue., May. 15, 2012
Although the major forecasters continue to foresee global oil consumption growing at a moderate pace and within a very tight range in 2012, this does not mean the outcome is a foregone conclusion given the major uncertainties plaguing their outlooks.

Energy Intelligence Launches New Energy

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Oil Daily
Tue., May. 15, 2012
The latest in the suite of Energy Intelligence publications tracks the transition of the global energy industry from conventional fossil fuels to alternative energy forms, creating a bridge between old and new and between policy and the market.

Iran Nuclear Talks to Resume, But Progress Remains Elusive

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Oil Daily
Tue., May. 15, 2012
An easing of geopolitical tensions between Iran and the West has contributed to the recent slide in oil prices, but policy analysts are warning against excessive optimism about a diplomatic breakthrough over Tehran's nuclear program.

Latest Market Trends May 14, 2012

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Oil Daily
Tue., May. 15, 2012
Graphs showing recent movements in oil and natural gas futures prices and the EIF index of oil and gas company stock prices.

Stock Market Scorecard May 14, 2012

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Oil Daily
Tue., May. 15, 2012
Stock price movements for leading companies in various subsectors of the oil and gas industry.

Daily Oil and Gas Price Review May 14, 2012

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Oil Daily
Tue., May. 15, 2012
Overview of domestic and international spot and futures prices for crude oil, refined petroleum products and natural gas.

Crude Extends Recent Losses, Brent's Premium Over WTI Widens

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Oil Daily
Tue., May. 15, 2012
Oil futures extended their recent decline Monday as money managers continued to shed long positions amid persistent concerns about the eurozone financial crisis.

Chevron Inks Wheatstone Sales Deal

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Oil Daily
Tue., May. 15, 2012
Chevron has signed a nonbinding agreement with Japan's Tohoku Electric Power Co. to supply the Japanese utility with 1 million tons/yr of LNG for up to 20 years from its 8.9 million tons/yr Australian Wheatstone LNG project, Roy Krzywosinski, Chevron Australia's managing director, told reporters in Adelaide on Sunday.

Saudi Oil Minister Sees Renewable Energy Complementing Crude

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Oil Daily
Tue., May. 15, 2012
Saudi Arabia thinks it is in its "fundamental long-term economic interest" to develop renewable energy, according to Saudi Oil Minister Ali Naimi.

Chariot's Namibia Well Disappoints

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Oil Daily
Tue., May. 15, 2012
Shares in London-listed Chariot Oil & Gas shed almost half their value on Monday after it announced that its hotly anticipated Tapir South exploration well offshore Namibia came up dry.

Shell, Chevron Win Ukraine Shale

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Oil Daily
Tue., May. 15, 2012
Royal Dutch Shell and Chevron have won tenders to explore and develop shale acreage in Ukraine, Ukrainian Prime Minister Mykola Azarov told Euronews television Monday.

Concho Extends Permian Basin Footprint With Big Acreage Buy

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Oil Daily
Tue., May. 15, 2012
Concho Resources has expanded its footprint in the Permian Basin with the acquisition of 310,000 gross acres (200,000 net) from Three Rivers Operating Company for $1.0 billion cash. The deal raises its total position in the play to nearly 750,000 net acres.

Agency Says US on Track for Offshore Wind Energy Leasing

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Oil Daily
Tue., May. 15, 2012
The US Bureau of Ocean Energy Management (BOEM) said on Monday it is on track to hold a lease sale for rights to develop offshore wind farms off six East Cost states by the end of this year.

US Firms Decry Regulatory Risk

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Oil Daily
Tue., May. 15, 2012
Government regulation is the top risk seen by crude oil and natural gas exploration and production companies, according to a study of annual reports by the top 100 producers conducted by accounting and consulting firm BDO USA LLP.

Loan Provides Temporary Relief for Chesapeake

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Oil Daily
Tue., May. 15, 2012
A $3 billion loan extended to Chesapeake Energy has eased concerns about the gas giant's financial position for the time being. But it will ultimately be seen as little more than a band-aid if key asset sales are not executed by year's end.

BHP Billiton May Take Writedown on US Shale Gas Assets

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Oil Daily
Tue., May. 15, 2012
The head of BHP Billiton's petroleum business left the door open to the possibility of a write-down on the company's US shale gas assets on Monday, but defended their long-term value.

Statoil to Drill Three Wells Offshore Newfoundland

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Oil Daily
Tue., May. 15, 2012
Statoil will begin a three-well drilling program later this year offshore Newfoundland, including two exploration wells in the Flemish Pass Basin and another in the Jeanne d'Arc Basin to the west.

Prompt-Month Gas Forwards

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NGW's Gas Market Reconnaissance
Tue., May. 15, 2012
Gas deals settled against the expiration price for that month.

Spot Cash Electricity Prices

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NGW's Gas Market Reconnaissance
Tue., May. 15, 2012
Change in spot power price is from previous day.

Gas Needed to Replace Offline Nuclear Capacity

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NGW's Gas Market Reconnaissance
Tue., May. 15, 2012
Nuclear Regulatory Commission's daily power reactor status.

Today's Short-Term Weather Forecast

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NGW's Gas Market Reconnaissance
Tue., May. 15, 2012
Weather forecast from the NOAA.

Natural Gas/Power Spark Spreads

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NGW's Gas Market Reconnaissance
Tue., May. 15, 2012
Cost of using gas turbines of various heat efficiencies.

Contact Us

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NGW's Gas Market Reconnaissance
Tue., May. 15, 2012
Contact our senior staff to discuss market conditions.

Briefly Noted

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NGW's Gas Market Reconnaissance
Tue., May. 15, 2012
Summary of the day's energy news.

Degree Days

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NGW's Gas Market Reconnaissance
Tue., May. 15, 2012
Sum of temperature variances above and below 65 degrees for six key cities.

Market Watch

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NGW's Gas Market Reconnaissance
Tue., May. 15, 2012
June gas futures nearly gained back Monday's short-covering losses after staging a 2.8% rally to $2.50. Though the session was short of the 3.1% rise needed to eclipse Monday's downdraft, bulls are counting on further lift from Thursday's storage report that should again cut deep into a record storage glut.

Natural Gas Spot Prices

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NGW's Gas Market Reconnaissance
Tue., May. 15, 2012
Gas deals done for next-day flow or weekend delivery.

Natural Gas Futures Contracts

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NGW's Gas Market Reconnaissance
Tue., May. 15, 2012
Results of Nymex trading for Henry Hub gas futures contracts.

Fuel Competition

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NGW's Gas Market Reconnaissance
Tue., May. 15, 2012
Spreads between volume-weighted gas prices and competing fuels.

Brent's Premium Over WTI Widens as Oil Prices Continue Downturn

headlines@energyintel.com

International Oil Daily
Tue., May. 15, 2012
Oil futures extended their recent decline Monday as money managers continued to shed long positions amid persistent concerns about the eurozone financial crisis.

Iran, UN to Resume Nuclear Talks, But Analysts Warn Against Optimism

headlines@energyintel.com

International Oil Daily
Tue., May. 15, 2012
An easing of geopolitical tensions between Iran and the West has contributed to the recent slide in oil prices, but policy analysts are warning against excessive optimism about a diplomatic breakthrough over Tehran's nuclear program.

Loan Eases Chesapeake Concerns

headlines@energyintel.com

International Oil Daily
Tue., May. 15, 2012
A $3 billion loan extended to Chesapeake Energy has eased concerns about the gas giant's financial position for the time being. But it will ultimately be seen as little more than a band-aid if key asset sales are not executed by year's end.

Shale Writedown Possible for BHP Billiton

headlines@energyintel.com

International Oil Daily
Tue., May. 15, 2012
The head of BHP Billiton's petroleum business left the door open to the possibility of a write-down on the company's US shale gas assets on Monday, but defended their long-term value.

InterOil: LNG Project Can Be Saved

headlines@energyintel.com

International Oil Daily
Tue., May. 15, 2012
InterOil said Monday that Papua New Guinea's energy department planned to cancel approval for its $6 billion LNG complex but it was confident the project could be saved.

Daily Oil and Gas Price Review May 14, 2012

headlines@energyintel.com

International Oil Daily
Tue., May. 15, 2012
Overview of domestic and international spot and futures prices for crude oil, refined petroleum products and natural gas.

Latest Market Trends May 14, 2012

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International Oil Daily
Tue., May. 15, 2012
Graphs showing recent movements in oil and natural gas futures prices and the EIF index of oil and gas company stock prices.

Stock Market Scorecard May 14, 2012

headlines@energyintel.com

International Oil Daily
Tue., May. 15, 2012
Stock price movements for leading companies in various subsectors of the oil and gas industry.

E.On Vows UK Gas Price Freeze

headlines@energyintel.com

International Oil Daily
Tue., May. 15, 2012
The head of German E.On's UK business, Tony Cocker, has promised to freeze residential gas and power prices to its 5 million existing UK household customers for the remainder of 2012.

Oil Executive Kidnapped in Libya

headlines@energyintel.com

International Oil Daily
Tue., May. 15, 2012
The head of the Akakus joint venture between state Libyan National Oil Corp. (NOC) and Spanish Repsol was kidnapped last Thursday, reportedly by militias of the Zintan brigade, and released unharmed on Friday.

Chariot Shares Plummet After Namibia Disappointment

headlines@energyintel.com

International Oil Daily
Tue., May. 15, 2012
Shares in London-listed Chariot Oil & Gas shed almost half their value on Monday after it announced that its hotly anticipated Tapir South exploration well offshore Namibia came up dry.

Kar Group Building Taq Taq Export Pipe in Kurdistan

headlines@energyintel.com

International Oil Daily
Tue., May. 15, 2012
The Iraqi Kurdish Kar Group -- operator of the Khurmala field and also the 40,000 barrel per day Erbil refinery it supplies -- has begun work on a pipeline connecting Genel Energy's Taq Taq field to the Khurmala tie-in point to Iraq’s main northern export pipeline that links the Kirkuk field to the Turkish Mediterranean port of Ceyhan.

Kuwait Pushes Back Gas Targets

headlines@energyintel.com

International Oil Daily
Tue., May. 15, 2012
State Kuwait Oil Co. (KOC) plans to increase its nonassociated gas production to 1 Bcf/d by 2017-18, the company's deputy managing director for northern fields, Hosnia Hashim, said over the weekend. That seemingly pushes the target date back by two to three years amid two ongoing investigations into Royal Dutch Shell's agreement with KOC to help develop the difficult Jurassic gas reservoirs.

Russian Official Proposes Tax Breaks

headlines@energyintel.com

International Oil Daily
Tue., May. 15, 2012
The increasing tax burden on gas producers in Russia will necessitate tax breaks for upstream developments in Russia’s Far East, says First Deputy Prime Minister Igor Shuvalov.

Naimi Pushes Renewables, Targets $100 Oil Price

headlines@energyintel.com

International Oil Daily
Tue., May. 15, 2012
Saudi Arabia thinks it is in its "fundamental long-term economic interest" to develop renewable energy, according to Saudi Oil Minister Ali Naimi. The comments followed his statement Sunday that Saudi Arabia wants oil prices around $100 per barrel, and after he said in Japan last week that global oil markets could be oversupplied by as much as 1.5 million barrels per day.

Yemen LNG Pipe Bombed Again

headlines@energyintel.com

International Oil Daily
Tue., May. 15, 2012
The pipeline supplying gas to the Total-led Yemen LNG plant was sabotaged again on Monday, marking the third time it has been blown up in less than two months by suspected Al-Qaeda elements.

Shell, Chevron Win Ukraine Shale

headlines@energyintel.com

International Oil Daily
Tue., May. 15, 2012
Royal Dutch Shell and Chevron have won tenders to explore and develop shale acreage in Ukraine, Ukrainian Prime Minister Mykola Azarov told Euronews television Monday.

Tatneft Sees Q4 Libya Restart

headlines@energyintel.com

International Oil Daily
Tue., May. 15, 2012
Russian regional producer Tatneft hopes to resume its operations in Libya that were halted by last year's civil conflict in the fourth quarter of 2012, according to a report from Russian RBC Daily.

PGNIG Resumes Libya Exploration

headlines@energyintel.com

International Oil Daily
Tue., May. 15, 2012
Polish oil and gas group PGNIG, which is 72.4% state-owned, said on Friday it is resuming gas exploration activities on the Murzuq license in western Libya, along with preparations for drilling there.

China Refining Runs Slip in April

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International Oil Daily
Tue., May. 15, 2012
China’s refining throughput and domestic crude production both slipped slightly in April, according to the National Bureau of Statistics.

Angola LNG Delayed Again

headlines@energyintel.com

International Oil Daily
Tue., May. 15, 2012
Angola LNG, the only LNG project expected to come on stream this year along with Woodside's Pluto project in Australia, will start up in June, Total CEO Christophe de Margerie told reporters at an industry conference in Adelaide, Australia.

Tepco Fuel Costs to Climb as LNG, Oil Factor More

headlines@energyintel.com

International Oil Daily
Tue., May. 15, 2012
The financially crippled Fukushima operator Tokyo Electric Power Corp. (Tepco) expects fuel costs to rise by 460 billion yen ($5.8 billion) this fiscal year compared with last year. The forecast was made Monday during the release of its annual results ended Mar. 30, for which the utility revealed a net loss of 781.6 billion yen -- less dire than the 1.25 trillion yen loss incurred a year earlier.

Australia's LNG Sector Sees Competitive Threats

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International Oil Daily
Tue., May. 15, 2012
A combination of factors are weighing heavily on Australian LNG investors' minds as they consider the future competitiveness of the business. These include rising costs, tight regulations, tax fears and the increasing viability of LNG exports from the US and East Africa.

Japanese Town Backs Nuke Restarts

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International Oil Daily
Tue., May. 15, 2012
The assembly of the Japanese town of Oi decided Monday to support the restart of Kansai Electric’s No. 3 and No. 4 nuclear reactors in Fukui prefecture, according to local reports. Despite differing opinions at meetings, the assembly decided against a prolonged halt in the reactors in order to protect local economy and employment.

Chevron Inks Wheatstone Sales Deal

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International Oil Daily
Tue., May. 15, 2012
Chevron has signed a nonbinding agreement with Japan's Tohoku Electric Power Co. to supply the Japanese utility with 1 million tons/yr of LNG for up to 20 years from its 8.9 million tons/yr Australian Wheatstone LNG project, Roy Krzywosinski, Chevron Australia's managing director, told reporters in Adelaide on Sunday.

Woodside Confirms Bid for Cyprus Exploration Block

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International Oil Daily
Tue., May. 15, 2012
Australian Woodside Petroleum could be preparing for its first foray overseas in several years, having submitted a bid for exploration blocks offshore Cyprus, CEO Peter Coleman told the Australian Petroleum Production and Exploration Association (APPEA) conference in Adelaide.

No Quick Fix to Declines in Qatari Oil Production

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International Oil Daily
Tue., May. 15, 2012
Qatar has asked the world's biggest oil companies to help stem declines at its wholly-owned fields, but the only active plan would see output from an offshore field increase by roughly 50,000 barrels per day after 2017.

Sakhalin Energy Says Japan Ups Order for LNG

headlines@energyintel.com

International Oil Daily
Tue., May. 15, 2012
Gazprom-led Sakhalin Energy, the operator of the Russian-led Sakhalin-2 oil and gas project, has received orders from Japan for additional supplies of LNG this year, according to a company report released late last week. The requested volumes were not disclosed, however, and Gazprom declined to comment.

Papua New Guinea Moves to Cancel InterOil's Project

headlines@energyintel.com

LNG Intelligence
Tue., May. 15, 2012
The PNG government hasn't been happy for awhile.

Sakhalin Energy Says Japan Ups Order for LNG

headlines@energyintel.com

LNG Intelligence
Tue., May. 15, 2012
Gazprom-led Sakhalin Energy has received orders from Japan for additional supplies.

Woodside Confirms Bid for Cyprus Exploration Block

headlines@energyintel.com

LNG Intelligence
Tue., May. 15, 2012
Australia's Woodside could be preparing for its first foray overseas in several years.

Chevron Inks Wheatstone Sales Deal

headlines@energyintel.com

LNG Intelligence
Tue., May. 15, 2012
Chevron has signed a nonbinding agreement with Japan's Tohoku Electric Power Co.

Japanese Town Backs Nuke Restarts

headlines@energyintel.com

LNG Intelligence
Tue., May. 15, 2012
The assembly of the town of Oi decided Monday to support the restart of two reactors.

Tepco Fuel Costs to Climb as LNG, Oil Factor More

headlines@energyintel.com

LNG Intelligence
Tue., May. 15, 2012
Tepco expects fuel costs to rise by US$5.8 billion this fiscal year compared with last year.

Australia's LNG Sector Sees Competitive Threats

headlines@energyintel.com

LNG Intelligence
Tue., May. 15, 2012
A combination of factors is weighing heavily on Australian LNG investors' minds.

Angola LNG Delayed Again

headlines@energyintel.com

LNG Intelligence
Tue., May. 15, 2012
The project is now slated to start up in June.

Yemen LNG Pipe Bombed Again

headlines@energyintel.com

LNG Intelligence
Tue., May. 15, 2012
The pipeline supplying gas to the Total-led Yemen LNG plant was hit again on Monday.

Australian Companies Are Looking For Workers

headlines@energyintel.com

LNG Intelligence
Tue., May. 15, 2012
This time, they're looking for them in Texas.

LNG Market Indicators

headlines@energyintel.com

LNG Intelligence
Tue., May. 15, 2012
LNG Market Indicators for May 15 2012

LNG Netbacks at Key Receiving Terminals

headlines@energyintel.com

LNG Intelligence
Tue., May. 15, 2012
LNG Netbacks at Key Receiving Terminals for May 15 2012

More Action in the Pacific

headlines@energyintel.com

LNG Intelligence
Tue., May. 15, 2012
Australian progress, yet worries expressed in Adelaide.

Japan Shuts Down Last Nuclear Reactor, US Natural Gas Prices Rebound

headlines@energyintel.com

Energy Intelligence Briefing
Mon., May. 14, 2012
Japan is now without any nuclear generated power for the first time in 40 years, after the country recently shut its only remaining operating reactor, lending more support to the tight LNG market in Asia. With LNG as the main substitution fuel and the region's summer electricity demand on the rise, the Asia LNG spot price has been steadily increasing.

PIW Market Indicators

headlines@energyintel.com

Petroleum Intelligence Weekly
Mon., May. 14, 2012
PIW Market Indicators

Rational Apathy

headlines@energyintel.com

Petroleum Intelligence Weekly
Mon., May. 14, 2012
Oil prices have stabilized, but they are clearly on the defensive. It's difficult to pin recent losses on any one factor, but recent macroeconomic anxiety is certainly playing a major role. Nymex West Texas Intermediate was down as much as $10 per barrel to the $95/bbl level at some points last week, while Brent fell as low as $110/bbl. Weaker equity markets have brought about an overall "risk-off" sentiment among investors, pushing speculative players to liquidate positions in oil.

MOZAMBIQUE

headlines@energyintel.com

Petroleum Intelligence Weekly
Mon., May. 14, 2012
Royal Dutch Shell has received government approval for its proposed acquisition of UK-listed Cove Energy, which has an 8.5% interest in the huge gas discoveries in Offshore Area 1 in the Rovuma Basin.

NIGERIA

headlines@energyintel.com

Petroleum Intelligence Weekly
Mon., May. 14, 2012
ConocoPhillips is putting its assets in the country up for sale, which comprise stakes in four onshore producing licenses, two offshore licenses and a 17% interest in the planned Brass LNG project, sources confirmed last week.

RUSSIA

headlines@energyintel.com

Petroleum Intelligence Weekly
Mon., May. 14, 2012
Norway's Statoil has become state oil giant Rosneft's third new Arctic exploration partner in the space of just three weeks, inking a deal May 5 to explore the Perseevsky license area in the Barents Sea, as well as three blocks in the Far Eastern Sea of Okhotsk.

CHINA

headlines@energyintel.com

Petroleum Intelligence Weekly
Mon., May. 14, 2012
The National Development and Reform Commission has cut gasoline and diesel prices by about 3% in response to declining international crude oil prices, with gasoline prices falling by 330 yuan ($52.30) per ton and diesel by 310 yuan/ton.

RUSSIA

headlines@energyintel.com

Petroleum Intelligence Weekly
Mon., May. 14, 2012
Crude oil exports via the Transneft pipeline system to destinations outside the former Soviet Union climbed to 4.073 million b/d in April, up 6.6% from 3.821 million b/d in March.

Fears Ease Over US East Coast Oil Shortage

headlines@energyintel.com

Petroleum Intelligence Weekly
Mon., May. 14, 2012
Fears of a refined product shortage on the US East Coast this summer are abating. A region with demand of some 5.4 million b/d and already structurally short of products had been pushed to breaking point by the closure of 210,000 b/d of refining capacity over the past two years and the idling of a further 365,000 b/d. But additions to pipeline capacity should now allow more oil to move north from the US Gulf Coast, while upgrades to port facilities will allow for more product imports.

INDIA

headlines@energyintel.com

Petroleum Intelligence Weekly
Mon., May. 14, 2012
Reliance Industries and partner BP run the risk of losing their prized KG-D6 Block in the Krishna Godavari Basin off the country's east coast after New Delhi accused Reliance of being in "deliberate and willful" breach of its contract by producing well short of target, and refused to allow more than $1 billion in cost recovery.

Oil Supply Surge Continues Through April

headlines@energyintel.com

Petroleum Intelligence Weekly
Mon., May. 14, 2012
The surge in global oil supply continued unabated in April, even as oil markets finally started to show some awareness of the extra volumes that have helped to boost inventories. Preliminary PIW soundings indicate a 715,000 barrel per day increase last month to an average 91.525 million b/d.

Q1 Earnings a Mixed Bag for Integrated Majors

headlines@energyintel.com

Petroleum Intelligence Weekly
Mon., May. 14, 2012
The first quarter of 2012 was a mixed bag, in terms of financial performance, for the leading integrated majors. The 12.5% year-on-year rise in crude prices delivered higher oil price realizations than for the same period in 2011, but also triggered lower entitlement volumes under production sharing contracts, denting equity net output.

AFGHANISTAN

headlines@energyintel.com

Petroleum Intelligence Weekly
Mon., May. 14, 2012
The government in Kabul plans to offer up another 10 blocks for international bidders by the end of the year, hoping to maintain the momentum built up by last year's successful award of blocks to state China National Petroleum Corp.

BRAZIL

headlines@energyintel.com

Petroleum Intelligence Weekly
Mon., May. 14, 2012
Oil companies looking for new offshore opportunities will have to wait a while longer, as changes in senior management at state-controlled Petrobras compound the paralysis that has led to serious delays in new licensing rounds.

Aramco's New Trading Arm Spooks Traders

headlines@energyintel.com

Petroleum Intelligence Weekly
Mon., May. 14, 2012
It has been 10 years in the making, but Saudi Aramco finally opened the doors of its first independent trading operation in January. While the Saudi state oil giant has shrugged off its former distaste for active participation in the spot market, the new Aramco Trading's activities will be strictly limited to refined products and other oil and gas byproducts -- there is no intention to trade crude, at least for the foreseeable future.

Judgment Day Looms for Nabucco on Shah Deniz

headlines@energyintel.com

Petroleum Intelligence Weekly
Mon., May. 14, 2012
The contest to transport gas west from the second stage of Azerbaijan's offshore Shah Deniz field is heating up ahead of the May 16 deadline set by the BP-led operating consortium for proposals for pipeline routes into Central Europe.

Chesapeake's Risky Business Laid Low by Gas Prices

headlines@energyintel.com

Petroleum Intelligence Weekly
Mon., May. 14, 2012
With US gas prices still below $2.50/MMBtu and having recently taken a detour below $2/MMBtu, the old adage that "the cure for low prices is low prices" has become the last hope of the country's gas producers. It's a cure that already looks like coming too late for one of the companies most exposed to currently depressed prices, Chesapeake Energy, which has been one of the most dynamic players in the US gas sector over the past decade, but whose cupboard is looking increasingly bare.

LNG

headlines@energyintel.com

Petroleum Intelligence Weekly
Mon., May. 14, 2012
Two Asian investment firms have agreed to make a joint equity investment of $468 million in the US' Cheniere Energy that will support the construction of the Sabine Pass LNG export project in Louisiana.

UNITED STATES

headlines@energyintel.com

Petroleum Intelligence Weekly
Mon., May. 14, 2012
The government has proposed new reporting and environmental regulations for unconventional oil and gas development, giving federal agencies new authority to regulate hydraulic fracturing, or "fracking," on public lands.

PIPELINES

headlines@energyintel.com

Petroleum Intelligence Weekly
Mon., May. 14, 2012
TransCanada has submitted to the US State Department a revised application for a presidential permit for the 830,000 b/d Keystone XL crude oil pipeline from the US-Canada border in Montana to Steele City, Nebraska.

New YPF Won't Solve Argentina's Energy Problems

headlines@energyintel.com

Petroleum Intelligence Weekly
Mon., May. 14, 2012
Less than a month on from the Argentinean government's expropriation of a controlling stake in the country’s largest oil producer, YPF, there are signs that Buenos Aires is at least taking a professional, technocratic approach to how the firm is managed. President Cristina Fernandez de Kirchner has named an experienced oilman, Miguel Galuccio, as the company's new chief executive, in a move which has received cautious praise and which even prompted a brief rally in YPF's share price.

Chinese Oil Demand Growth Falters

headlines@energyintel.com

Petroleum Intelligence Weekly
Mon., May. 14, 2012
China's economy is stuttering, and so is its oil demand. Oil product consumption grew by just 2.7% year-on-year in the first quarter, down sharply from the 10.2% seen in the same period last year. There are some encouraging signs pointing to a possible rebound in economic growth in the second quarter, and that could lift oil demand. But demand growth this year still looks like struggling to top the 5.4% seen in 2011.

New Well Spud in Kurdistan

headlines@energyintel.com

Oil Daily
Mon., May. 14, 2012
Hungarian Mol and the UK-listed Gulf Keystone have announced the spudding of the Bakrman-1 exploration well on the Akri-Bijeel Block in northern Iraq's Kurdistan region.

Ukraine, RWE Sign Gas Deal

headlines@energyintel.com

Oil Daily
Mon., May. 14, 2012
Ukrainian state gas company Naftogas has signed a gas sale and purchase agreement with German RWE Supply & Trading GmbH (RWEST), as Ukraine seeks to reduce its dependence on Russian gas.

Crude Prices Drift Lower as Traders Reduce Long Positions

headlines@energyintel.com

Oil Daily
Mon., May. 14, 2012
Crude oil prices in the US and Europe dipped on Friday and also showed losses for the week despite an easing of worries about the fiscal health of the eurozone.

US Natural Gas Futures Rally on Bullish Fundamentals and Technicals

headlines@energyintel.com

Oil Daily
Mon., May. 14, 2012
The US June natural gas futures contract gained 23¢ or 10% during a week-long rally last week, as physical fundamentals and technical indicators started to show signs of improvement.

Chesapeake May Delay Asset Sales to Preserve Cash Flow

headlines@energyintel.com

Oil Daily
Mon., May. 14, 2012
Chesapeake Energy may delay asset sales in order to preserve cash flow needed to comply with requirements of its corporate credit facility, the company said on Friday, pushing the company's stock down to its lowest level in more than three years.

Latest Market Trends May 11, 2012

headlines@energyintel.com

Oil Daily
Mon., May. 14, 2012
Graphs showing recent movements in oil and natural gas futures prices and the EIF index of oil and gas company stock prices.

Stock Market Scorecard May 11, 2012

headlines@energyintel.com

Oil Daily
Mon., May. 14, 2012
Stock price movements for leading companies in various subsectors of the oil and gas industry.

Daily Oil and Gas Price Review May 11, 2012

headlines@energyintel.com

Oil Daily
Mon., May. 14, 2012
Overview of domestic and international spot and futures prices for crude oil, refined petroleum products and natural gas.

Cyprus Says Response to Bid Round Exceeds its Expectations

headlines@energyintel.com

Oil Daily
Mon., May. 14, 2012
Cyprus has received 15 bids for nine of 12 offshore blocks on offer in its politically sensitive second licensing round. Bidders, including some major oil companies and prominent national oil companies, ignored warnings from Turkey to stay away from the tender and instead focused on Cyprus' significant offshore gas potential.

IEA: Geopolitical Risk Will Keep Oil Prices High

headlines@energyintel.com

Oil Daily
Mon., May. 14, 2012
Crude oil prices were weighed down in April and early May by disappointing economic data in the US and Europe and the perception of easing tensions between Iran and the West, the International Energy Agency said in its latest monthly Oil Market Report.

Brazil's HRT Sees Namibia Bonanza

headlines@energyintel.com

Oil Daily
Mon., May. 14, 2012
Brazilian oil company HRT Participacoes em Petroleo said on Friday it could have as much as 28 billion barrels of oil and gas in Namibia. It also said it expects to start commercial production later this year.

Ecopetrol Secures Pipeline Loan

headlines@energyintel.com

Oil Daily
Mon., May. 14, 2012
Ecopetrol, Colombia's state-controlled oil producer, said it has lined up financing for the first stage of a major pipeline project that aims to connect oil fields along the Venezuelan border with the country’s Caribbean coast.

US Rig Count: Oil +17, Gas -8

headlines@energyintel.com

Oil Daily
Mon., May. 14, 2012
Baker Hughes US Rotary Rig Count for the week ended May 11

BreitBurn Expands its Footprint to Permian Basin

headlines@energyintel.com

Oil Daily
Mon., May. 14, 2012
US independent BreitBurn Energy Partners has expanded its geographic footprint to a seventh state, inking two deals in the West Texas Permian Basin for a combined $220 million.

Canada Needs to Move Swiftly to Grab a Piece of Asian LNG Market

headlines@energyintel.com

Oil Daily
Mon., May. 14, 2012
The concept of satisfying Asian demand for LNG with low-priced Canadian natural gas looks good on paper, but the country needs to move quickly if it wants to join the ranks of global LNG players, according to a report released last week by Ernst & Young.

US Senator Seeks to End Tax Breaks for Oil, Gas, Coal

headlines@energyintel.com

Oil Daily
Mon., May. 14, 2012
Sen. Bernie Sanders (I-Vermont) has introduced legislation that revives previously unsuccessful efforts to repeal oil industry tax breaks. But his bill goes even further by also targeting measures that benefit the coal industry.

US Supply, Demand and Stock Trends at a Glance

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Jet Fuel Intelligence
Mon., May. 14, 2012
A Look at Weekly US Supply, Demand and Stock Trends

Spot Cargo Markets: Bailing Out

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Jet Fuel Intelligence
Mon., May. 14, 2012
The savage Brent sell-off that began last week finally came to a halt Thursday as huge trading swells indicated that most players had finished bailing out of their long positions. The resulting higher refinery margins in all regions, combined with generous Saudi term pricing for June loadings, should increase demand for crude oil, especially now that refineries are coming out of maintenance ahead of the summer peak-demand period.

Spot Cargo and Airport Price Snapshot

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Jet Fuel Intelligence
Mon., May. 14, 2012
A Look at Weekly Spot Cargo and Airport Prices

NOTICE TO SUBSCRIBERS

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Jet Fuel Intelligence
Mon., May. 14, 2012
With this issue JFI is introducing new pricing data on page 6, replacing airport prices for locations in the US, Europe and Asia that are based on outdated formulas.

CHINA

headlines@energyintel.com

Jet Fuel Intelligence
Mon., May. 14, 2012
China is mulling the inclusion of the aviation sector in the domestic carbon trading scheme that the country is preparing to introduce. But Beijing remains opposed to the EU’s stance of imposing a carbon penalty on all international flights entering or leaving its territory, a government official reportedly said last week.

Colonial Expands Capacity to Head Off Supply Shortfalls

headlines@energyintel.com

Jet Fuel Intelligence
Mon., May. 14, 2012
Colonial Pipeline Co.'s new slogan -- "We Move the Energy That Moves America" -- resonates throughout the airline industry. Airlines depend on deliveries of jet fuel from Gulf Coast refineries to airports in the Northeast -- in particular New York's three hubs. Deliveries from Gulf Coast plants to the Northeast have increased dramatically as refineries in Pennsylvania have shut down.

UNITED KINGDOM

headlines@energyintel.com

Jet Fuel Intelligence
Mon., May. 14, 2012
One surprise included in the UK government's legislative program for the next 12 months in the annual Queen's Speech to parliament last week is a provision to facilitate the sale of the Government Pipeline and Storage System (GPSS), an aviation fuel pipeline network owned and run by the Ministry of Defence (MOD).

Deadline Looms in the UK for Coryton Refinery Rescue

headlines@energyintel.com

Jet Fuel Intelligence
Mon., May. 14, 2012
Mid-May marks the expiration of the three-month tolling deal put in place in February by a consortium of privately held energy investor AtlasInvest, private equity house KKR and investment bank Morgan Stanley to keep the Coryton refinery in the southeastern UK operating. The administrator for bankrupt owner Petroplus is seeking a longer-term solution for creditors -- preferably a sale.

AUSTRALIA

headlines@energyintel.com

Jet Fuel Intelligence
Mon., May. 14, 2012
Linc Energy Chief Executive Peter Bond is flying 4,300 km across Australia in a coal-fueled plane to garner publicity for his company’s Underground Coal Gasification (UCG) process. UCG involves heating underground coal reserves in situ to a temperature of more than 1,000°C.

US June Gas Futures Soar 10%, Fundamentals Turn More Bullish

headlines@energyintel.com

Natural Gas Week
Mon., May. 14, 2012
The US June natural gas contract saw a strong week-long 10% rally last week as fundamentals improve.

Chevron to Deploy Innovative Drillship to Gulf

headlines@energyintel.com

Natural Gas Week
Mon., May. 14, 2012
Chevron has announced the arrival of a cutting-edge, newly built drillship in the Gulf of Mexico.

Baker Hughes Rig Count

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Natural Gas Week
Mon., May. 14, 2012
Baker Hughes US Rotary Rig Count for the week ended May 11

BP Develops Emergency Deepwater Well Capping System for Global Use

headlines@energyintel.com

Natural Gas Week
Mon., May. 14, 2012
As part of an effort to never repeat the failures of Macondo, BP has developed its own well capping system.

Greens, Industry Both Shellacking Middle-Ground BLM Fracking Rule

headlines@energyintel.com

Natural Gas Week
Mon., May. 14, 2012
Proposed BLM rules requiring disclosure of chemicals used in hydraulic fracturing is getting blasted from both sides.

Transportation Update: Store Chain Making ‘Kwik Trip’ to Natural Gas

headlines@energyintel.com

Natural Gas Week
Mon., May. 14, 2012
Midwest convenience store chain sells --and uses -- natural gas as a transportation fuel.

ConocoPhillips Gets Behind LNG Exports, Unconventional Gas E&P

headlines@energyintel.com

Natural Gas Week
Mon., May. 14, 2012
North America's gas bounty is ample enough to supply domestic needs and LNG exports, new Conoco CEO Ryan Lance says.

EOG Resources Eyes Ethane Price Rebound as NGL Production Rises

headlines@energyintel.com

Natural Gas Week
Mon., May. 14, 2012
EOG Resources’s strategy to reinvent itself as an oil company barreled full speed ahead during the first quarter.

Pipeline Capacity Utilization

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Natural Gas Week
Mon., May. 14, 2012
Pipeline Capacity Utilization for ___ 2011

Gas Price Report

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Natural Gas Week
Mon., May. 14, 2012
This week's summary of overall gas price trends.

Canadian Price Report

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Natural Gas Week
Mon., May. 14, 2012
This week and historical data on Canadian regional gas pricing from the wellhead to delivery.

Gas Price Trends

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Natural Gas Week
Mon., May. 14, 2012
This week and historical data on US regional gas pricing from the wellhead to delivery.

Comparative Fuel Prices

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Natural Gas Week
Mon., May. 14, 2012
How this week's average coal and petroleum fuel prices compared to natural gas market prices.

North American Weekly Gas Storage

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Natural Gas Week
Mon., May. 14, 2012
A summary of US Energy Information Adminstration and Enerdata reports on North American storage volumes.

Natural Gas Futures

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Natural Gas Week
Mon., May. 14, 2012
This week's trading summary and 12-month-strip movements for the CME/Nymex Henry Hub natural gas contract.

Spot Electricity Trading

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Natural Gas Week
Mon., May. 14, 2012
This week's average price for reported spot electricity trades.

Prices and Differentials for Major Hubs and Selected City Gates

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Natural Gas Week
Mon., May. 14, 2012
This week's prices and differentials between major natural gas hubs in the US and Canada.

Natural Gas Intrastate Gas Prices

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Natural Gas Week
Mon., May. 14, 2012
This week's natural gas intrastate spot prices.

Natural Gas Weekly Spot Prices

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Natural Gas Week
Mon., May. 14, 2012
This week's natural gas weekly spot prices for interstate pipelines in the US and Canada.

WORLD: China Begins Drilling in Disputed Area

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Natural Gas Week
Mon., May. 14, 2012
China National Offshore Oil Corp. has started drilling operations in waters claimed by Vietnam, China and Taiwan.

WORLD: Cyprus Upbeat on NatGas Hotspot Despite Ongoing Turkish Imbroglio

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Natural Gas Week
Mon., May. 14, 2012
Flush from Noble Energy's offshore success, Cyprus has held a second bid round off its southern coast.

CURRENT: Ferc Transmission Order Props Up Renewables

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Natural Gas Week
Mon., May. 14, 2012
Ferc Order 1000 will attempt to forge regional cooperation when decisions are made on new transmission projects.

Australia Companies, Visa Officials Scoping Workers at Houston Event

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Natural Gas Week
Mon., May. 14, 2012
Australian companies are coming to Houston to lure Texans to the Land Down Under.

Leasing Offshore Virginia Hangs on Five-Year Plan, Obama's Re-Election

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Natural Gas Week
Mon., May. 14, 2012
A continued ban on drilling offshore Virginia appears to hinge on whether President Obama is re-elected this fall.

Second Equity Investor at Sabine Pass May Close Deal for Cheniere

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Natural Gas Week
Mon., May. 14, 2012
Cheniere Energy has landed a second equity investor for its now fully approved Sabine Pass liquefaction project.

MARKET VIEW: Asian Players Making Cheniere's Sabine Pass LNG Exports Reality

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Natural Gas Week
Mon., May. 14, 2012
Asian firms continue to step up as enthusiastic backers for Cheniere Energy's Sabine Pass LNG export project.

ROUNDUP: Mergers & Acquisitions:

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Natural Gas Week
Mon., May. 14, 2012
Chesapeake may delay “one or more” planned asset monetization efforts to preserve cash flows needed to meet credit facility requirements.

ROUNDUP: Legal & Legislative:

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Natural Gas Week
Mon., May. 14, 2012
The federal PHMSA will require pipeline companies to keep up-to-date records on pressures or face penalties.

ROUNDUP: Anadarko NatGas Drilling Project in Utah Lauded for Greenish Bent

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Natural Gas Week
Mon., May. 14, 2012
An innovative environmentally friendly plan has been approved for 3,675 new gas wells in Uintah County, Utah.

ROUNDUP: North American Shale Update:

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Natural Gas Week
Mon., May. 14, 2012
Enterprise Products Partners has opened its cryogenic natural gas processing plant in the Yoakum, Texas.

Canada: Ontario Stumbles Implementing Green Energy Plan

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Natural Gas Week
Mon., May. 14, 2012
Ontario's Green Energy Plan to harness renewable energy will soon result in the highest power rates in North America.

ROUNDUP: Also Noted:

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Natural Gas Week
Mon., May. 14, 2012
Offshore Technology Conference 2012 attendance reached a 30-year high of 89,400.

ROUNDUP: Infrastructure Update:

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Natural Gas Week
Mon., May. 14, 2012
Hackers have been targeting gas pipeline company computer networks, according to US Homeland Security officials.

Prudential Opens Energy Finance Group; Chief Sees Opportunities

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Natural Gas Week
Mon., May. 14, 2012
Low gas prices continue to weigh on the market, but opportunities still abound, the Prudential energy group head tells NGW.

Gas Needed to Replace Offline Nuclear Capacity

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NGW's Gas Market Reconnaissance
Mon., May. 14, 2012
Nuclear Regulatory Commission's daily power reactor status.

Today's Short-Term Weather Forecast

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Mon., May. 14, 2012
Weather forecast from the NOAA.

Spot Cash Electricity Prices

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Mon., May. 14, 2012
Change in spot power price is from previous day.

Natural Gas/Power Spark Spreads

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Mon., May. 14, 2012
Cost of using gas turbines of various heat efficiencies.

Contact Us

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Mon., May. 14, 2012
Contact our senior staff to discuss market conditions.

Degree Days

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Mon., May. 14, 2012
Sum of temperature variances above and below 65 degrees for six key cities.

Market Watch

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Mon., May. 14, 2012
June gas futures tumbled 3.1% into the low $2.40s Monday as traders took profits from last week's 10% surge.

Briefly Noted

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Mon., May. 14, 2012
Summary of the day's energy news.

Natural Gas Spot Prices

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Mon., May. 14, 2012
Gas deals done for next-day flow or weekend delivery.

Prompt-Month Gas Forwards

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Mon., May. 14, 2012
Gas deals settled against the expiration price for that month.

Natural Gas Futures Contracts

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NGW's Gas Market Reconnaissance
Mon., May. 14, 2012
Results of Nymex trading for Henry Hub gas futures contracts.

Fuel Competition

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NGW's Gas Market Reconnaissance
Mon., May. 14, 2012
Spreads between volume-weighted gas prices and competing fuels.

Oil Prices Drop Again as Traders Reduce Long Positions

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International Oil Daily
Mon., May. 14, 2012
Crude oil prices in the US and Europe dipped on Friday and also showed losses for the week despite an easing of worries about the fiscal health of the eurozone.

IEA Warns Geopolitical Risk Will Continue Pressuring Oil Prices

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International Oil Daily
Mon., May. 14, 2012
Crude oil prices were weighed down in April and early May by disappointing economic data in the US and Europe and the perception of easing tensions between Iran and the West, the International Energy Agency said in its latest monthly Oil Market Report.

Brazil's HRT Has High Hopes for Namibia

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International Oil Daily
Mon., May. 14, 2012
Brazilian oil company HRT Participacoes em Petroleo said on Friday it could have as much as 28 billion barrels of oil and gas in Namibia. It also said it expects to start commercial production later this year.

Ecopetrol Lines Up Pipe Financing

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International Oil Daily
Mon., May. 14, 2012
Ecopetrol, Colombia's state-controlled oil producer, said it has lined up financing for the first stage of a major pipeline project that aims to connect oil fields along the Venezuelan border with the country’s Caribbean coast.

Chesapeake May Delay Asset Sales

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International Oil Daily
Mon., May. 14, 2012
Chesapeake Energy may delay asset sales in order to preserve cash flow needed to comply with requirements of its corporate credit facility, the company said in a regulatory filing on Friday, pushing its stock down to its lowest level in more than three years.

Swift Action Needed for Canada to Grab Share of Asian LNG

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International Oil Daily
Mon., May. 14, 2012
The concept of satisfying Asian demand for LNG with low-priced Canadian natural gas looks good on paper, but the country needs to move quickly if it wants to join the ranks of global LNG players, according to a report released last week by Ernst & Young.

Daily Oil and Gas Price Review May 11, 2012

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International Oil Daily
Mon., May. 14, 2012
Overview of domestic and international spot and futures prices for crude oil, refined petroleum products and natural gas.

Latest Market Trends May 11, 2012

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International Oil Daily
Mon., May. 14, 2012
Graphs showing recent movements in oil and natural gas futures prices and the EIF index of oil and gas company stock prices.

Stock Market Scorecard May 11, 2012

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International Oil Daily
Mon., May. 14, 2012
Stock price movements for leading companies in various subsectors of the oil and gas industry.

Novatek Posts Profit Jump

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International Oil Daily
Mon., May. 14, 2012
Top Russian gas independent Novatek on Friday said profits increased by 13% year-on-year in the first quarter thanks to stronger sales and a foreign exchange gain.

B&S Spuds Second Falklands Well

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International Oil Daily
Mon., May. 14, 2012
London-listed explorer Borders and Southern announced Friday the spudding of its second and final well in the waters to the south of the Falkland Islands in the South Atlantic.

UK Tanker Drivers Reject Strike

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International Oil Daily
Mon., May. 14, 2012
UK tanker drivers have voted narrowly against a strike, after accepting proposals tabled after eight days of talks at conciliation service Acas. It ends two months of uncertainty over whether a strike would, or would not, disrupt motor fuel deliveries to the country's filling stations.

President Gets New Chairman

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International Oil Daily
Mon., May. 14, 2012
London-listed President Petroleum announced Friday the appointment of Peter Levine -- the former head of Russia-focused Imperial Energy, bought by India's ONGC for $2.1 billion in 2009 -- as executive chairman.

Cyprus Blocks Attract 15 Bids Despite Turkish Threat

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International Oil Daily
Mon., May. 14, 2012
Cyprus has received 15 bids for nine of 12 offshore blocks on offer in its politically sensitive second licensing round. Bidders, including some major oil companies and prominent national oil companies, ignored warnings from Turkey to stay away from the tender and instead focused on Cyprus' significant offshore gas potential.

EDF Takeover of Edison Cleared

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International Oil Daily
Mon., May. 14, 2012
The European Commission said Friday it had cleared EDF's acquisition of a controlling 80% stake in leading Italian energy group Edison.

Ukraine, RWE Sign Gas Deal

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International Oil Daily
Mon., May. 14, 2012
Ukrainian state gas company Naftogas has signed a gas sale and purchase agreement with German RWE Supply & Trading GmbH (RWEST), as Ukraine seeks to reduce its dependence on Russian gas.

Nord Stream Considers Adding Two More Pipes

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International Oil Daily
Mon., May. 14, 2012
The Gazprom-led Nord Stream consortium that delivers Russian gas direct to Germany said Friday it is considering laying two more pipelines across the Baltic Sea to cater to future European demand.

Roc Inks Bohai Deal With CNOOC

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International Oil Daily
Mon., May. 14, 2012
Chinese National Offshore Oil Corp. (CNOOC) announced Friday that it has signed a production sharing contract (PSC) with a subsidiary of Australia-registered Roc Oil for Block 09/05 in the Bohai bay offshore northeast China.

New Well Spud in Kurdistan

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International Oil Daily
Mon., May. 14, 2012
Hungarian Mol and the UK-listed Gulf Keystone have announced the spudding of the Bakrman-1 exploration well on the Akri-Bijeel Block in northern Iraq's Kurdistan region.

Centrica Takes Flak Over CEO Pay, Retail Price Hikes

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International Oil Daily
Mon., May. 14, 2012
Centrica, the largest residential energy supplier in the UK, is facing flak over its chief executive's salary and its propensity to raise prices -- while failing to deliver on its business targets.

E.On Poised to Sell German Gas Grid to Macquarie-Led Group

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International Oil Daily
Mon., May. 14, 2012
Cost-cutting German utility E.On, which is partway through a €15 billion ($19.4 billion) divestment program, has reportedly agreed to sell its German gas transmission grid network, known as Open Grid Europe, to a consortium led by a fund controlled by Macquarie Group for €3.2 billion.

Iraq Cuts Deeper Than Saudi With June Prices to Asia

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International Oil Daily
Mon., May. 14, 2012
Iraq dropped the June Asian export formula price of its key Basrah Light crude by 45¢ per barrel against competing Saudi Arab Medium crude -- its largest deviation from Saudi differentials in five months. The last time medium, sour Basrah Light had gone its separate way from Arab Medium had been for the January formula price, when it fell by 55¢/bbl against the medium, sour Saudi grade.

Inpex Hikes Capex to Reach Output Target

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International Oil Daily
Mon., May. 14, 2012
Japanese top explorer Inpex said Friday it will double its exploration budget to 300 billion yen ($3.8 billion) over the next five years and boost outlays further to more than 1 trillion yen over 10 years after the start-up of its Ichthys LNG project in Australia in late 2016.

Bentek Energy's Gas Metrics US LNG Imports

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LNG Intelligence
Mon., May. 14, 2012
Bentek Energy's Gas Metrics US LNG Imports

Angola Receives First LNG Tanker

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LNG Intelligence
Mon., May. 14, 2012
Angola's LNG export project is proceeding despite thwarted plans for the US market.

Inpex to Hike Capex to Reach Output Target

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LNG Intelligence
Mon., May. 14, 2012
Inpex said Friday it will double its exploration budget to $3.8 billion over the next five years.

Nord Stream Considers Adding Two More Pipes

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LNG Intelligence
Mon., May. 14, 2012
The Gazprom-led Nord Stream group might lay two more pipelines across the Baltic Sea.

Cyprus Blocks Attract 15 Bids Despite Turkish Threat

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LNG Intelligence
Mon., May. 14, 2012
Cyprus has received 15 bids for nine of 12 offshore blocks on offer.

Novatek Posts Profit Jump

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LNG Intelligence
Mon., May. 14, 2012
Company still looking for a direct link to Europe.

Shale Gas Explorer Says UK Production May Start in 2014

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LNG Intelligence
Mon., May. 14, 2012
Cuadrilla appears to have overcome seismic troubles.

Venezuelan LNG Exports?

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LNG Intelligence
Mon., May. 14, 2012
LNG has entered the conversation again in Caracas.

LNG Market Indicators

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LNG Intelligence
Mon., May. 14, 2012
LNG Market Indicators for May 14 2012

LNG Netbacks at Key Receiving Terminals

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LNG Intelligence
Mon., May. 14, 2012
LNG Netbacks at Key Receiving Terminals for May 14 2012

All the Gas in China

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LNG Intelligence
Mon., May. 14, 2012
How will China keep up with gas demand?

Crude Oil, Netbacks and Products

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Energy Compass
Fri., May. 11, 2012
Crude oil, netbacks and products prices.

Market Place: Marketplace: Start the Engines

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Energy Compass
Fri., May. 11, 2012
The savage Brent sell-off that began last week finally came to a halt Thursday, with large volumes traded into price upticks, suggesting players are mostly finished parting with their long positions. Higher resulting refinery margins in all regions, combined with benign Saudi term pricing for June loadings, should increase demand for crude oil, especially now that refineries are coming out of maintenance ahead of the summer peak-demand period.

Russia: Putin Looks After Sechin, Eyes Oil and Gas Revenue Gains

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Energy Compass
Fri., May. 11, 2012
Indications are that Igor Sechin will keep his role in the country's oil and gas sector, although a new Russian cabinet has yet to be formed following the May 7 inauguration of Vladimir Putin as president. This goes particularly for state-controlled Rosneft, which under Sechin's supervision managed to forge three Arctic megadeals in the last nine months. Oil and gas are going to continue playing key roles during Putin's new term, given planned increases in social and defense spending.

Elections Everywhere

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Energy Compass
Fri., May. 11, 2012
Domestic elections are forming a backdrop for geopolitics worldwide this month -- although a runoff vote in Iran’s parliamentary elections that further weakened President Mahmoud Ahmadinejad is unlikely to have much impact on Iran's nuclear stance, as Supreme Leader Ayatollah Khamenei was firmly in control to begin with. Other countries voting recently include Syria, Algeria, France, Greece and Russia, with Egypt to follow soon.

OPEC

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Energy Compass
Fri., May. 11, 2012
The Arab Spring has inflated the 2012 break-even oil price for national budgets in several Mideast countries above $100/bbl, although Saudi Arabia remains well below that psychological threshold.

IRAQ

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Energy Compass
Fri., May. 11, 2012
Vice President Tareq al-Hashemi of the Iraqiya party said Wednesday that he intends to stay in Turkey until the political crisis in Iraq is resolved.

RUSSIA

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Energy Compass
Fri., May. 11, 2012
Deputy Prime Minister Igor Sechin pulled off a third landmark Arctic exploration deal before his impending exit from the cabinet, with Norway's Statoil becoming the latest international major to team up with state-controlled Rosneft.

Pressure Points

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Energy Compass
Fri., May. 11, 2012
The latest inventory report from the US Department of Energy shows a 3.7 million bbl build in crude oil stocks in the week to May 4, to 379.5 million bbl.

CHINA

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Energy Compass
Fri., May. 11, 2012
Crude imports rose by 3.3% year-on-year in April to reach 5.44 million b/d, according to Chinese government customs data. This is a significant slowdown from March.

INDIA

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Energy Compass
Fri., May. 11, 2012
Reliance Industries and partner BP are at risk of losing their gas-rich KG-D6 Block offshore eastern India after New Delhi accused Reliance of being in "deliberate and willful" breach of its contract by producing well short of target.

YEMEN

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Energy Compass
Fri., May. 11, 2012
Facing a likely export shortfall this year due to two gas pipeline attacks in less than a month, Total-led Yemen LNG (YLNG) is increasingly concerned that it could become the target of a sustained bombing campaign like that plaguing oil operations.

Venezuela: Lessons From East Asia Deals Not All Upbeat

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Energy Compass
Fri., May. 11, 2012
The billions of dollars in oil and gas deals that a Venezuelan delegation trumpeted on returning to Caracas from Asia this month seem on examination mainly to have marked the end of Japanese and South Korean flirtation with Venezuelan oil and demonstrated that if Caracas wants to place notable quantities of its hydrocarbons in East Asia, it will either need to participate in building joint-venture refineries, as it is doing in China, or develop LNG exports, as Seoul would like.

Opec File: They Are All Price Hawks Now

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Energy Compass
Fri., May. 11, 2012
All members have effectively signed off on a policy of maximizing both oil profits and the productive lives of their fields -- including Saudi Arabia, despite its recent bearish talk. In short form, the strategy is: Sell as little as you can for the highest possible price. Why then, after Brent futures jumped over $125 in February and stayed there, did Saudi Oil Minister Ali Naimi condemn "unjustified" prices? A consumer threat to release oil from strategic petroleum stocks was a big factor.

Iran: Global Players Angle for Position in Fast-Moving Diplomatic Game

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Energy Compass
Fri., May. 11, 2012
Geopolitical positioning worldwide on Iran's confrontation with the West continues apace ahead of the scheduled midsummer intensification of US and EU sanctions against Tehran and May 23 nuclear talks in Baghdad. A new president in France and an expanded government in Israel are adding uncertainty and volatility to the mix, as is talk of delaying EU sanctions for six month -- even though betting is still against a delay.

Perspective: Comprehensive Deal on Iran's Nuclear Program Possible

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Energy Compass
Fri., May. 11, 2012
The tea leaves are looking auspicious for a comprehensive deal between Iran and the West over Tehran’s nuclear program, with the interests of the two main adversaries -- Iran and the US -- apparently coinciding in a more significant way than at any other time since the 1979 Islamic Revolution.

Market Forces: Complex Biodiesel Angle to Spain, Argentina Dispute

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Energy Compass
Fri., May. 11, 2012
Angered by Argentina's decision to expropriate YPF, Spain has opted to stop importing biodiesel from Argentina, in favor of supplies from inside the EU. While this seems at first like a simple case of retaliation, or an attempt to bring pressure on the government of President Cristina Fernandez de Kirchner, it potentially carries wider ramifications for biodiesel at both ends of the supply chain.

Canada: Courts Likely to Determine Fate of Oil Sands Export Pipeline

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Energy Compass
Fri., May. 11, 2012
The Canadian courts are likely to be the ultimate deciders of whether Enbridge succeeds in punching a new crude oil pipeline from Northern Alberta through the mountainous rain forests of British Columbia to Canada's West Coast, with all the delay that implies in getting oil sands production to Asia. The reason? Canada's federal government doesn't have treaties with "First Nations" in the area where the pipeline would terminate, leaving government approvals subject to court challenge.

West African Crudes Struggle in Oversupplied Market

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Energy Intelligence Briefing
Fri., May. 11, 2012
Sellers of June loading West African crudes have had a difficult month as a result of slower demand, a dip in benchmark prices and weaker differentials.

Repsol Moves On Without YPF

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Oil Daily
Fri., May. 11, 2012
Repsol stock gained 8% in Madrid on Thursday after the Spanish major posted solid first-quarter earnings that not only beat analysts' consensus forecasts, but also eased investor fears about the firm's ability to advance its growth strategy without its recently nationalized Argentine YPF affiliate.

Statoil Details Arctic Plans

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Oil Daily
Fri., May. 11, 2012
Just days after signing a cooperation agreement with Russia's Rosneft to jointly explore areas of the Russian Arctic, Statoil revealed Thursday the details of further Arctic exploration plans in Norway's slice of the Barents Sea.

Anadarko Sells US Gulf Stake

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Oil Daily
Fri., May. 11, 2012
Stone Energy said it will buy Anadarko Petroleum's working interests in a US Gulf field for $67 million in cash.

Latest Market Trends May 10, 2012

headlines@energyintel.com

Oil Daily
Fri., May. 11, 2012
Graphs showing recent movements in oil and natural gas futures prices and the EIF index of oil and gas company stock prices.

Stock Market Scorecard May 10, 2012

headlines@energyintel.com

Oil Daily
Fri., May. 11, 2012
Stock price movements for leading companies in various subsectors of the oil and gas industry.

Daily Oil and Gas Price Review May 10, 2012

headlines@energyintel.com

Oil Daily
Fri., May. 11, 2012
Overview of domestic and international spot and futures prices for crude oil, refined petroleum products and natural gas.

Iran Puts its Oil Output Much Higher Than Opec's Secondary Sources

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Oil Daily
Fri., May. 11, 2012
How are sanctions impacting Iran’s production and exports of crude oil? Well, the latest monthly report from Opec gives two very different answers to that question.

US Defense Secretary Urges Senate to Ratify Law of Sea Treaty

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Oil Daily
Fri., May. 11, 2012
Defense Secretary Leon Panetta went to bat for US energy companies this week by stressing the importance of the US joining the United Nations Convention on the Law of the Sea (Unclos).

Waste Management Plans to Convert All its Vehicles to Natural Gas

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Oil Daily
Fri., May. 11, 2012
Houston-based Waste Management (WM) isn’t experimenting with various alternative fuels anymore. “[Our] primary strategy is convert to natural gas … period,” said Eric Woods, vice president of fleet and logistics.

Crude Futures End Mixed on US, Chinese Economic Data

headlines@energyintel.com

Oil Daily
Fri., May. 11, 2012
Oil prices ended mixed in choppy trading on Thursday as weaker-than-expected Chinese trade data, higher Opec production and evidence of a strengthening US jobs market muddied the oil demand outlook.

US Confident It Can Enforce Sanctions Against Iran's Central Bank

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Oil Daily
Fri., May. 11, 2012
With less than two months remaining before US sanctions against Iran’s central bank kick in, the Treasury Department is confident it will be able to thwart any efforts to circumvent the sanctions. It is also watching for any signs of payments to Iran being covertly routed through Lebanon.

Ukraine Shale Winners Tipped

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Oil Daily
Fri., May. 11, 2012
Shell and Chevron are likely to win tenders to explore and develop two potentially large shale gas fields in Ukraine, outbidding Eni, Exxon Mobil and TNK-BP, a government source told Reuters on Thursday.

Libya Protest Standoff Ends

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Oil Daily
Fri., May. 11, 2012
Security forces on Wednesday arrested the armed protesters outside the Benghazi headquarters of Libya's state Agoco, but it remains unclear when a 30,000 b/d cut to production will be restored.

Corruption Probe at Eni Unit

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Oil Daily
Fri., May. 11, 2012
The much delayed supergiant Kashagan field offshore Kazakhstan could find itself in new bother just as it was starting to look like the operating consortium was going to meet its latest target of achieving first oil by the end of 2012.

China Import Growth Slows

headlines@energyintel.com

Oil Daily
Fri., May. 11, 2012
China's crude imports rose by 3.3% year-on-year in April to reach 5.44 million b/d, according to Chinese government customs data.

Saudi Arabia's Crude Output Hits Highest Level in 30 Years

headlines@energyintel.com

Oil Daily
Fri., May. 11, 2012
Saudi Arabia pumped over 10.1 million barrels per day in April, pushing beyond the three-decade high achieved late last year, Saudi data show.

EPA Drops Vapor Recovery Requirement

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Oil Daily
Fri., May. 11, 2012
The US Environmental Protection Agency (EPA) has announced that equipment installed at filling stations to capture gasoline vapors when motorists refuel their vehicles can be phased out beginning later this year.

Energy Intelligence Launches New Energy

headlines@energyintel.com

Oil Daily
Fri., May. 11, 2012
The latest in the suite of Energy Intelligence publications tracks the transition of the global energy industry from conventional fossil fuels to alternative energy forms, creating a bridge between old and new and between policy and the market.

Cress Buys More Bakken Acreage

headlines@energyintel.com

Oil Daily
Fri., May. 11, 2012
Houston-based Cress Oil said it has purchased an additional 16,000 acres in the Bakken Shale in Montana this week, marking the company's third acquisition in the tight oil play this year.

Colombia Signs Pipeline, Trade Deals With China

headlines@energyintel.com

Oil Daily
Fri., May. 11, 2012
Colombian President Juan Manuel Santos signed a raft of business deals in China this week, including one covering a feasibility study for a 600,000 barrel per day crude export pipeline linking Venezuela with Colombia’s Pacific coast.

Gas in Storage Rises by 30 Bcf

headlines@energyintel.com

Oil Daily
Fri., May. 11, 2012
Stocks of working natural gas in US storage facilities rose by 30 Bcf in the week ended May 4, taking storage levels to 2,606 Bcf, according to the Energy Information Administration. Gas in storage was 799 Bcf higher than at the same time last year.

Energy Firms More Inclined to Sell Assets, Less Inclined to Buy

headlines@energyintel.com

Oil Daily
Fri., May. 11, 2012
Oil and gas executives have less of an appetite for acquisitions than they did six months ago, despite an improved deal-making environment and greater faith in the global economic recovery, according to the results of a survey by accounting and advisory firm Ernst & Young.

TransCanada to Expand Alberta Terminal

headlines@energyintel.com

Oil Daily
Fri., May. 11, 2012
TransCanada said it has secured "firm commitments" from parties interested in accessing a new terminal at the starting point of its Keystone pipeline system.

Gas Needed to Replace Offline Nuclear Capacity

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Fri., May. 11, 2012
Nuclear Regulatory Commission's daily power reactor status.

Today's Short-Term Weather Forecast

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Fri., May. 11, 2012
Weather forecast from the NOAA.

Spot Cash Electricity Prices

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Fri., May. 11, 2012
Change in spot power price is from previous day.

Natural Gas/Power Spark Spreads

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Fri., May. 11, 2012
Cost of using gas turbines of various heat efficiencies.

Contact Us

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Fri., May. 11, 2012
Contact our senior staff to discuss market conditions.

Degree Days

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Fri., May. 11, 2012
Sum of temperature variances above and below 65 degrees for six key cities.

Market Watch

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Fri., May. 11, 2012
The June natural gas contact posted a five-session rally to end the week with a 10% gain.

Briefly Noted

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Fri., May. 11, 2012
Summary of the day's energy news.

Natural Gas Spot Prices

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Fri., May. 11, 2012
Gas deals done for next-day flow or weekend delivery.

Prompt-Month Gas Forwards

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Fri., May. 11, 2012
Gas deals settled against the expiration price for that month.

Natural Gas Futures Contracts

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Fri., May. 11, 2012
Results of Nymex trading for Henry Hub gas futures contracts.

Fuel Competition

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Fri., May. 11, 2012
Spreads between volume-weighted gas prices and competing fuels.

Brent Futures Drop on Chinese, US Economic Data

headlines@energyintel.com

International Oil Daily
Fri., May. 11, 2012
Oil prices ended mixed in choppy trading on Thursday as weaker-than-expected Chinese trade data, higher Opec production and evidence of a strengthening US jobs market muddied the oil demand outlook.

Iran Assesses Oil Output Much Greater Than Secondary Opec Sources

headlines@energyintel.com

International Oil Daily
Fri., May. 11, 2012
How are sanctions impacting Iran’s production and exports of crude oil? Well, the latest monthly report from Opec gives two very different answers to that question.

US Confident of Enforcement of Iran Bank Sanctions

headlines@energyintel.com

International Oil Daily
Fri., May. 11, 2012
With less than two months remaining before US sanctions against Iran’s central bank kick in, the Treasury Department is confident it will be able to thwart any efforts to circumvent the sanctions. It is also watching for any signs of payments to Iran being covertly routed through Lebanon.

Daily Oil and Gas Price Review May 10, 2012

headlines@energyintel.com

International Oil Daily
Fri., May. 11, 2012
Overview of domestic and international spot and futures prices for crude oil, refined petroleum products and natural gas.

Latest Market Trends May 10, 2012

headlines@energyintel.com

International Oil Daily
Fri., May. 11, 2012
Graphs showing recent movements in oil and natural gas futures prices and the EIF index of oil and gas company stock prices.

Stock Market Scorecard May 10, 2012

headlines@energyintel.com

International Oil Daily
Fri., May. 11, 2012
Stock price movements for leading companies in various subsectors of the oil and gas industry.

Colombia Inks Pipe Deal With China

headlines@energyintel.com

International Oil Daily
Fri., May. 11, 2012
Colombian President Juan Manuel Santos signed a raft of business deals in China this week, including one covering a feasibility study for a 600,000 b/d crude export pipeline linking Venezuela with Colombia’s Pacific coast.

Energy Intelligence Launches New Energy

headlines@energyintel.com

International Oil Daily
Fri., May. 11, 2012
Introducing New Energy! The latest in the suite of Energy Intelligence publications tracks the transition of the global energy industry from conventional fossil fuels to alternative energy forms, creating a bridge between old and new and between policy and the market.

Repsol Moves to Show Bright Future Without YPF

headlines@energyintel.com

International Oil Daily
Fri., May. 11, 2012
Repsol stock gained 8% in Madrid on Thursday after the Spanish major posted solid first-quarter earnings that not only beat analysts' consensus forecasts, but also eased investor fears about the firm’s ability to advance its growth strategy without its recently-nationalized Argentine YPF affiliate.

Statoil Eyes New Prospects in Norway's Barents Sea

headlines@energyintel.com

International Oil Daily
Fri., May. 11, 2012
Just days after signing a cooperation agreement with Russia's Rosneft to jointly explore areas of the Russian Arctic, Statoil revealed Thursday the details of further Arctic exploration plans in Norway's slice of the Barents Sea.

Novatek Steps Up Export Bid

headlines@energyintel.com

International Oil Daily
Fri., May. 11, 2012
Leading independent Russian gas producer Novatek says it is in talks with the government over acquiring export rights as it retains a bullish outlook on European gas demand.

Ukraine Eyes Qatari LNG

headlines@energyintel.com

International Oil Daily
Fri., May. 11, 2012
Cash-strapped Ukraine is considering imports of LNG from Qatar as a cheaper alternative to Russian gas and as it tries to diversify its energy supply routes away from its powerful eastern neighbor.

Eni's Kashagan Unit Under Threat Amid Corruption Claims

headlines@energyintel.com

International Oil Daily
Fri., May. 11, 2012
The much delayed supergiant Kashagan field offshore Kazakhstan could find itself in new bother just as it was starting to looking like the operating consortium was going to meet its latest target of achieving first oil by the end of 2012.

Board Seat Awaits Sechin

headlines@energyintel.com

International Oil Daily
Fri., May. 11, 2012
Igor Sechin, Russia's powerful deputy prime minister for energy, appears set to join the board of Rosneftegas, potentially dealing a blow to former Russian President Dmitry Medvedev's effort to keep government officials off the boards of state-controlled companies.

TNK Seeks Tax Breaks as Q1 Profits Drop 17%

headlines@energyintel.com

International Oil Daily
Fri., May. 11, 2012
Russian-UK joint venture TNK-BP reported a 17% drop in first-quarter net income to $2.18 billion from the $2.62 billion a year earlier. The company boosted production 4% to 2.037 million barrels of oil equivalent per day, due largely to increases from operations at Uvat in the Tyumen region of western Siberia and at Verkhnechonskoye in the Irkutsk Oblast region of southeastern Siberia.

Tawke Reserves Up, But Kurdistan Export Impasse Remains

headlines@energyintel.com

International Oil Daily
Fri., May. 11, 2012
Kurdistan-focused DNO International announced Thursday a fresh reserves upgrade, ahead of its potential listing in London later this year. DNO, currently listed in Oslo, now claims as of Mar. 31 a net 502 million barrels of oil (including condensates and other liquids) plus 165 billion cubic feet of gas as proven and probable (2P) reserves. The revised figure for oil is 35% ahead of a previous end-December estimate.

Saudi Arabia Hits Another Production High

headlines@energyintel.com

International Oil Daily
Fri., May. 11, 2012
Saudi Arabia pumped over 10.1 million barrels per day in April, pushing beyond the three-decade high achieved late last year, Saudi data show.

Ukraine Shale Winners Tipped

headlines@energyintel.com

International Oil Daily
Fri., May. 11, 2012
Shell and Chevron are likely to win tenders to explore and develop two potentially large shale gas fields in Ukraine, outbidding Eni, Exxon Mobil and TNK-BP, a government source told Reuters on Thursday.

European Utility Profits Slide in Harsh Economy

headlines@energyintel.com

International Oil Daily
Fri., May. 11, 2012
German utilities RWE and E.On put a brave face on first-quarter results this week, having both suffered from a continuing gas margin squeeze, plus ongoing pain from the government-enforced phase-out of their nuclear plants.

Agoco Protest Standoff Ends

headlines@energyintel.com

International Oil Daily
Fri., May. 11, 2012
Security forces on Wednesday arrested the armed protesters outside the Benghazi headquarters of Libya’s state Agoco, but it remains unclear when a 30,000 cut to production will be restored.

Taqa Profits Up on Higher Prices

headlines@energyintel.com

International Oil Daily
Fri., May. 11, 2012
Despite a 3% drop in production, Abu Dhabi National Energy Co. (Taqa) reported Thursday that net profits for the first quarter more than tripled as a result of higher oil prices and the sale of noncore assets in Canada.

China Import Growth Slows

headlines@energyintel.com

International Oil Daily
Fri., May. 11, 2012
China’s crude imports rose by 3.3% year-on-year in April to reach 5.44 million b/d, according to Chinese government customs data.

Singapore Product Stocks Rise

headlines@energyintel.com

International Oil Daily
Fri., May. 11, 2012
Singapore’s onshore oil product inventories rose to their highest level in a month, expanding by 1.54 million bbl to hit 40.09 million bbl in the week ending May 9, according to figures released by trade group IESingapore.

Japan Mulls Iran Tanker Insurance

headlines@energyintel.com

International Oil Daily
Fri., May. 11, 2012
Japan is considering providing sovereign insurance for Japanese oil tankers calling at Iran, although negotiations with the EU to avert looming European sanctions remain its top priority, according to a Japanese government source familiar with the shipping situation.

Vietnam Cuts Product Prices

headlines@energyintel.com

International Oil Daily
Fri., May. 11, 2012
Vietnam has cut the price of some of its refined products for the first time this year, after oil prices retreated from earlier highs, the Ministry of Finance said this week.

Japan Nationalizes Tepco

headlines@energyintel.com

International Oil Daily
Fri., May. 11, 2012
The Japanese government approved late on Wednesday a restructuring plan for Tokyo Electric Power Co. (Tepco), which effectively nationalizes the company in the short term with the government to own more than 50% of voting rights after injecting 1 trillion yen ($12.5 billion) in it.

CNOOC's Deepwater Strategy in Question Despite Rig Debut

headlines@energyintel.com

International Oil Daily
Fri., May. 11, 2012
Despite spudding its first deepwater well this week, uncertainty surrounds China National Offshore Oil Corp.'s (CNOOC) deepwater strategy over the long term. A lack of discoveries in China's deepwater in recent years and a change of management at the top of CNOOC have raised doubts about the company's deepwater production targets.

Energy Intelligence Uranium Market Update

headlines@energyintel.com

Nuclear Intelligence Weekly
Fri., May. 11, 2012
A roundup of uranium prices and other market data.

Market Points

headlines@energyintel.com

Nuclear Intelligence Weekly
Fri., May. 11, 2012
The U3O8 spot price climbed for the third week in a row, jumping 25¢ to $52/lb for the May 11 assessment. In two weeks the price has climbed 70¢, the first such increase since January.

CHINA

headlines@energyintel.com

Nuclear Intelligence Weekly
Fri., May. 11, 2012
China's State Council avoided approving the Ministry of Environment's new nuclear safety plan at a recent meeting, Caixin magazine said in a May 11 report citing Zhang Guobao, the former head of the National Energy Administration, who was speaking at a Beijing conference on May 10.

SOUTH KOREA

headlines@energyintel.com

Nuclear Intelligence Weekly
Fri., May. 11, 2012
The Uljin nuclear power plant's No. 4 reactor is facing a two-year shutdown after defects in its steam generator were found to be more serious than expected, according to a report in Korea's Chosunilbo newspaper May 10.

BRAZIL

headlines@energyintel.com

Nuclear Intelligence Weekly
Fri., May. 11, 2012
Brazil is shelving plans to build at least four new reactors because of the Fukushima Daiichi disaster in Japan, after announcing an 18-month delay in February.

LITHUANIA

headlines@energyintel.com

Nuclear Intelligence Weekly
Fri., May. 11, 2012
Lithuania's government on May 9 adopted a set of legal documents, including a concession agreement, that foresees 20% ownership for vendor Hitachi in the $6.5 billion Visaginas NPP project.

Spot Price Continues Climb

headlines@energyintel.com

Nuclear Intelligence Weekly
Fri., May. 11, 2012
The U3O8 spot price as reported by NIW’s Uranium Price Panel climbed for the third week in a row, jumping 25¢ to $52/lb for the May 11 assessment. In two weeks the price has climbed 70¢, an increase greater than any two-week period since the first two weeks of the year, when it rose by $1.38 -- from $51.08 on Dec. 30 to $52.46 on Jan. 13.

UNITED KINGDOM

headlines@energyintel.com

Nuclear Intelligence Weekly
Fri., May. 11, 2012
The government will soon introduce its electricity market reform bill to parliament with the hope that it becomes law by 2013.

North Korea: Stalemated Diplomacy, But DPRK Provocations Continue

headlines@energyintel.com

Nuclear Intelligence Weekly
Fri., May. 11, 2012
Even if Pyongyang doesn't proceed with what many outside North Korea are predicting -- a new underground nuclear test -- there is little likelihood of any substantive agreement, large or small, taking place between Pyongyang and any world powers until after the elections at the end of the year in the US and South Korea. That said, North Korean provocations are likely to continue.

Decommissioning: GAO Claims NRC Funding Oversight Flawed

headlines@energyintel.com

Nuclear Intelligence Weekly
Fri., May. 11, 2012
The Nuclear Regulatory Commission (NRC) is not doing a good job of estimating nuclear decommissioning costs, according to the Government Accountability Office (GAO). In a report released May 7, the GAO said that five of 12 US reactors it assessed had funds to pay for as much as 76% of their projected decommissioning costs.

Japan: First Images from Inside Fukushima SFP

headlines@energyintel.com

Nuclear Intelligence Weekly
Fri., May. 11, 2012
Most notable among the first photographs taken inside the Unit-3 spent fuel pool (SFP) at the Fukushima Daiichi nuclear power station is the ghostly outline of a 35-metric ton fuel handling crane that fell into the pool after the hydrogen explosion that wrecked the entire reactor. The photos underscore the difficulty that Tokyo Electric Power Co. faces in trying to remove the spent fuel assemblies stored at the damaged nuclear power plants.

Japan: Government to Nationalize Tepco

headlines@energyintel.com

Nuclear Intelligence Weekly
Fri., May. 11, 2012
The Japanese government will seek “majority” ownership of the Tokyo Electric Power Co. (Tepco), effectively nationalizing the utility, although the exact percentage of government ownership has not been revealed, or perhaps even decided. The move is a step toward releasing some 1 trillion yen ($12.5 billion) requested by Tepco to help the beleaguered utility meet its mounting liabilities.

Japan: As Nuclear Power Ends, Energy Policy Adrift

headlines@energyintel.com

Nuclear Intelligence Weekly
Fri., May. 11, 2012
With opinion in Japan still deeply divided over nuclear power and no reactors currently operating in the country, the government has yet to unveil an expected revision of its 2010 energy strategy, which had banked on nuclear to provide half of the country's long-term power generation. The only thing that's clear at this point is that any recommended energy scenario will assign a bigger role to renewables and an even bigger role to LNG.

GREENLAND

headlines@energyintel.com

Nuclear Intelligence Weekly
Fri., May. 11, 2012
A prefeasibility study for the Kvanefjeld uranium and rare earth metals deposit projects a $1.53 billion mine with output of 2.6 million lbs U3O8 per year, Australia's Greenland Minerals and Energy (GME) announced last week.

Tepco Nationalization Depends on Restarts and Rate Hikes

headlines@energyintel.com

Nuclear Intelligence Weekly
Fri., May. 11, 2012
The Tokyo Electric Power Co. (Tepco) nationalization plan faces numerous hurdles in order to succeed; for one thing it requires Tepco to restart shuttered nuclear plants, including all or part of the troubled Kashiwazaki-Kariwa NPP. But for now it's the only way Tepco will get the $12.5 billion needed to meet its mounting liabilities.

UAE: Reactor Plans Beset by Delays, Higher Costs

headlines@energyintel.com

Nuclear Intelligence Weekly
Fri., May. 11, 2012
The United Arab Emirates is facing a longer approval timeline and potentially higher costs for its planned nuclear power program, according to NIW sister publication International Oil Daily.

Uranium: Utility Uranium Deliveries Increase 18%

headlines@energyintel.com

Nuclear Intelligence Weekly
Fri., May. 11, 2012
US utilities increased uranium inventories by 3% and deliveries of total uranium purchases by 18%, in 2011, according to the US Energy Information Administration's (EIA) latest Uranium Marketing Annual Report. The EIA reports a weighted average price for short-, medium- and long-term contracts for the year at $55.9/lb U3O8 and for spot contracts at $54.7/lb U3O8.

CZECH REPUBLIC

headlines@energyintel.com

Nuclear Intelligence Weekly
Fri., May. 11, 2012
CEZ will most likely look for a strategic equity partner for its Temelin newbuild project, the company announced this week.

Russia: Kiriyenko May Leave Rosatom to Head Up Russian Energy Portfolio

headlines@energyintel.com

Nuclear Intelligence Weekly
Fri., May. 11, 2012
As Russian President Vladimir Putin forms teams both in the Kremlin and in Prime Minister Dmitry Medvedev's government, Sergei Kiriyenko, despite his wish to stay, is likely to be elevated out of Rosatom. Analysts in Moscow believe he will be in charge of Russia's entire energy portfolio, including the all important oil and natural gas sectors.

Enrichment: Urenco's Possibilities With South Korea -- and South Africa?

headlines@energyintel.com

Nuclear Intelligence Weekly
Fri., May. 11, 2012
While Urenco USA is continuing talks with Korea Electric Power Corp. over a possible stake in further capacity at Urenco's centrifuge enrichment plant in New Mexico, "there hasn't been any decision" on the matter yet, according to Urenco Chief Executive Helmut Engelbrech.

Uranium: Kazakh Production Increases, Along With Costs

headlines@energyintel.com

Nuclear Intelligence Weekly
Fri., May. 11, 2012
Kazakhstan may be the world's leading producer of uranium by country but it is running into the problems typical of mining enterprises reaching middle-age -- its days of relatively effortless cheap production may be past. This is reflected in the increasing demand for sulphuric acid to counter the neutralizing effects of higher carbon concentrations at many in situ operations -- both new and old. Not surprisingly, this rising demand, along with high inflation, is driving up production costs.

Repsol Moves to Show Bright Future Without YPF

headlines@energyintel.com

LNG Intelligence
Fri., May. 11, 2012
A strong demand for LNG helped the books.

Japan Nationalizes Tepco

headlines@energyintel.com

LNG Intelligence
Fri., May. 11, 2012
The Japanese government approved late on Wednesday a restructuring plan for Tepco.

Ukraine Eyes Qatari LNG

headlines@energyintel.com

LNG Intelligence
Fri., May. 11, 2012
Ukraine seeks to reduce cost and dependence on Russia.

Novatek Steps Up Export Bid

headlines@energyintel.com

LNG Intelligence
Fri., May. 11, 2012
Novatek looks for cracks in Gazprom's export monopoly.

Osaka Area Could See 19% Summer Power Shortfall

headlines@energyintel.com

LNG Intelligence
Fri., May. 11, 2012
If Osaka has to face a hot summer without nuclear power, the numbers won't add up.

Taiwan's March LNG Imports Up 16.7%

headlines@energyintel.com

LNG Intelligence
Fri., May. 11, 2012
Other imports did not match the pace of LNG.

India Yet to Get Supreme Court Notice

headlines@energyintel.com

LNG Intelligence
Fri., May. 11, 2012
Reliance is pursuing arbitration over KG-D6.

More on Conoco's US LNG Thoughts

headlines@energyintel.com

LNG Intelligence
Fri., May. 11, 2012
It was only last year that Conoco expressed doubt about US LNG export economics.

Mozambique OKs Shell Bid for Cove

headlines@energyintel.com

LNG Intelligence
Fri., May. 11, 2012
Mozambique has given its approval to Shell's proposed acquisition of Cove Energy.

LNG Market Indicators

headlines@energyintel.com

LNG Intelligence
Fri., May. 11, 2012
LNG Market Indicators for May 11 2012

LNG Netbacks at Key Receiving Terminals

headlines@energyintel.com

LNG Intelligence
Fri., May. 11, 2012
LNG Netbacks at Key Receiving Terminals for May 11 2012

The Pacific Front

headlines@energyintel.com

LNG Intelligence
Fri., May. 11, 2012
Australia is looking at costs.

Oil Markets Take a One-Two Punch From Fundamentals, Economic Uncertainty

headlines@energyintel.com

Energy Intelligence Briefing
Thu., May. 10, 2012
Global oil prices have taken a turn and cooled off as a result of a number of factors, particularly anxiety-inducing headlines about the global economy and the fate of the eurozone, where recent elections have rocked the political and economic landscape. Physical fundamentals have also been important in keeping a lid on prices and helping spur the recent selloff to as low as $95 and $110 for Nymex West Texas Intermediate (WTI) and Brent, respectively.

Equities and Currencies

headlines@energyintel.com

Nefte Compass
Thu., May. 10, 2012
Share and Currency Prices Closing May 9, 2012

Crude Oil: Brent Breaks to the Downside

headlines@energyintel.com

Nefte Compass
Thu., May. 10, 2012
After weeks of monotonous range trading, Brent futures finally broke out of range.

Events

headlines@energyintel.com

Nefte Compass
Thu., May. 10, 2012
CIS Oil & Gas Summit, Russia, Ukraine, the Caspian & Central Asia, May 14-16, Paris, www.theenergyexchange.co.uk, tel: +44 (0) 1242 529 090

Russian Shipments to Syria Dry Up

headlines@energyintel.com

Nefte Compass
Thu., May. 10, 2012
Markets were unmoved as the flow of gasoil shipments from Russia to Syria ran dry.

Swiss Firm Signs Tajik PSA

headlines@energyintel.com

Nefte Compass
Thu., May. 10, 2012
Tajikistan, one of the last frontiers, could now be "properly explored," a Swiss company said after signing a production sharing agreement (PSA).

Chinese Raise Hopes for Kyrgyz Oil Sector

headlines@energyintel.com

Nefte Compass
Thu., May. 10, 2012
A Chinese firm has struck oil in Kyrgyzstan, raising hopes for the country's underdeveloped energy sector.

Putin Eases Tight Oil Tax Burden

headlines@energyintel.com

Nefte Compass
Thu., May. 10, 2012
Russin oil producers have been boosted by a pledge of tax breaks.

Novatek Tumbles on Tax Changes

headlines@energyintel.com

Nefte Compass
Thu., May. 10, 2012
Shares in Novatek have taken a dive over the past week as investors fear the drastically higher mineral extraction tax rates to be imposed on Russia's independent gas producers will restrain the company's profitability going forward.

Surgut Suffers Big Forex Loss

headlines@energyintel.com

Nefte Compass
Thu., May. 10, 2012
Surgutneftegas endured a rare dip into the red in the first quarter.

Bashneft Declares Its Hand in Iraq

headlines@energyintel.com

Nefte Compass
Thu., May. 10, 2012
Bashneft is the only Russian company to clearly indicate its interest in Iraq's fourth bid round.

Russian Oil Output Shows Little Change

headlines@energyintel.com

Nefte Compass
Thu., May. 10, 2012
Russia produced 10.33 million b/d of crude oil and condensate in April, up 0.9% on the year but down 0.3% from March.

Rosneft Pins Its Hopes on Gas

headlines@energyintel.com

Nefte Compass
Thu., May. 10, 2012
Rosneft has confirmed its future growth would come mainly from its gas reserves.

Croatia Mothballs Plans for LNG Terminal

headlines@energyintel.com

Nefte Compass
Thu., May. 10, 2012
E.On Ruhrgas confirms that plans for an LNG import terminal in Croatia are being sidelined.

Sechin Signs Up Statoil for Arctic Exploration

headlines@energyintel.com

Nefte Compass
Thu., May. 10, 2012
Igor Sechin looks to have masterminded Russia's last Arctic partnership for some time after Statoil signed up.

Russia Mulls New State Oil-Field Services Company

headlines@energyintel.com

Nefte Compass
Thu., May. 10, 2012
Prospects for a Russian state oil-field services company are casting a shadow over a precariously balanced sector.

Bashneft Keeps Trebs, Titov on Track

headlines@energyintel.com

Nefte Compass
Thu., May. 10, 2012
Bashneft keeps Trebs and Titov fields on schedule for 2012 startup despite oil spillage.

Russian Gas Production, April 2012

headlines@energyintel.com

Nefte Compass
Thu., May. 10, 2012
Russian Gas Production, April 2012

Russian Gas Sales Drop Sharply

headlines@energyintel.com

Nefte Compass
Thu., May. 10, 2012
Russian natural gas output dropped 2% year-on-year in April while exports tumbled 22%.

Lithuania Taps Qatar for LNG

headlines@energyintel.com

Nefte Compass
Thu., May. 10, 2012
Lithuania has opened LNG talks with Qatar in line with its drive to break its reliance on Russian gas.

Crude Oil Exports Bypassing the Transneft Pipeline System, April 2012

headlines@energyintel.com

Nefte Compass
Thu., May. 10, 2012
Crude Oil Exports Bypassing the Transneft Pipeline System, April 2012

Russian Crude Oil Exports to Non-CIS Markets, April 2012

headlines@energyintel.com

Nefte Compass
Thu., May. 10, 2012
Russian Crude Oil Exports to Non-CIS Markets, April 2012

Socar Connections Pay Off for Caspian Oil Traders

headlines@energyintel.com

Nefte Compass
Thu., May. 10, 2012
Nefte Compass looks at some of the new trading firms affiliated to state giant Socar.

Brent Snaps Losing Streak as Greek Bailout Payment is Approved

headlines@energyintel.com

Oil Daily
Thu., May. 10, 2012
Brent crude futures climbed back into positive territory in late trading on Wednesday, snapping five days of losses after approval of a bailout payment to Greece eased worries about eurozone debt.

UK to Privatize Jet Fuel Pipelines

headlines@energyintel.com

Oil Daily
Thu., May. 10, 2012
The UK is to enable the sale of the Government Pipeline and Storage System (GPSS), an aviation fuel pipeline network owned and run by the Ministry of Defence (MOD). It's one surprise in a wider energy bill, which features in the government's legislative plans for the coming 12 months.

Algeria Holds Elections

headlines@energyintel.com

Oil Daily
Thu., May. 10, 2012
A low turnout is predicted in Algerian elections Thursday, the first to be held in the North African oil state since the Arab Spring swept away regimes in neighbors Egypt, Libya and Tunisia. Analysts expect state-approved Islamists to poll well after a low-key campaign.

Chinese Firm Finds Oil in Kyrgyzstan

headlines@energyintel.com

Oil Daily
Thu., May. 10, 2012
Chinese minnow Chzhunnen Oil Exploration has found oil in former Soviet republic Kyrgyzstan, boosting Kyrgyz hopes that more foreign players will be persuaded to invest in the country's stunted energy sector.

Latest Market Trends May 9, 2012

headlines@energyintel.com

Oil Daily
Thu., May. 10, 2012
Graphs showing recent movements in oil and natural gas futures prices and the EIF index of oil and gas company stock prices.

Stock Market Scorecard May 9, 2012

headlines@energyintel.com

Oil Daily
Thu., May. 10, 2012
Stock price movements for leading companies in various subsectors of the oil and gas industry.

Daily Oil and Gas Price Review May 9, 2012

headlines@energyintel.com

Oil Daily
Thu., May. 10, 2012
Overview of domestic and international spot and futures prices for crude oil, refined petroleum products and natural gas.

Congressional Budget Office Touts Benefits of Using Less Oil

headlines@energyintel.com

Oil Daily
Thu., May. 10, 2012
A Congressional Budget Office (CBO) study released Wednesday asserts that policies designed to expand domestic oil supply will not protect US consumers from oil market volatility driven by disruptions in global oil supply.

Eagle Ford Shale Brings Big Economic Benefits to South Texas

headlines@energyintel.com

Oil Daily
Thu., May. 10, 2012
The economic impact of the Eagle Ford Shale in South Texas reached $25 billion for the 20 counties in and around the play last year, according to a study released Wednesday by the University of Texas-San Antonio's (UTSA) Institute for Economic Development.

Pemex Lowers Maya Premium to US

headlines@energyintel.com

Oil Daily
Thu., May. 10, 2012
Mexico Crude Oil Pricing for June 2012.

US Export Loan Could Give Much Needed Boost to APLNG Project

headlines@energyintel.com

Oil Daily
Thu., May. 10, 2012
The US Export-Import Bank has authorized a $2.95 billion direct loan for the Australia Pacific LNG (APLNG) liquefaction project -- a loan that could pave the way for a final investment decision in favor of APLNG's second train later this year.

Alberta Defends Oil Sands Crude

headlines@energyintel.com

Oil Daily
Thu., May. 10, 2012
Before it brands oil from Canada's oil sands as dirty, the European Union should try to get more accurate data on how much greenhouse gas is released from the crude oil that Europe consumes, the government of the Canadian province of Alberta said on Wednesday.

Brazil’s March Output Drops

headlines@energyintel.com

Oil Daily
Thu., May. 10, 2012
Brazil’s production of oil and condensates fell by 5.4% to 2.085 million barrels per day in March, compared with the previous month, according to data from the ANP, Brazil’s oil regulator.

New Conoco CEO: US Has Enough Gas to Support LNG Exports

headlines@energyintel.com

Oil Daily
Thu., May. 10, 2012
The US has ample natural gas supplies that are sufficient to meet its own needs and support some level of liquefied natural gas (LNG) exports, ConocoPhillips Chief Executive Ryan Lance said on Wednesday.

Republicans Press for Expansion of US Offshore Oil and Gas Leasing

headlines@energyintel.com

Oil Daily
Thu., May. 10, 2012
House Republicans said Wednesday they will insist on an expansion of offshore oil and gas drilling when federal regulators formally submit a schedule of offshore lease sales to Congress for review.

Paloma is Seller in Marathon Deal

headlines@energyintel.com

Oil Daily
Thu., May. 10, 2012
Privately owned Paloma Partners II has identified itself as the main seller in Marathon Oil's recently disclosed $767 million acquisition of 20,000 net acres in the heart of the booming Eagle Ford Shale play of South Texas.

Summary of Weekly Petroleum Data for the Week Ending May 4, 2012

headlines@energyintel.com

Oil Daily
Thu., May. 10, 2012

EOG Achieves Huge Increase in Oil Output

headlines@energyintel.com

Oil Daily
Thu., May. 10, 2012
EOG Resources relied on its four key US onshore liquids plays to raise its domestic crude and condensate production to 131,000 barrels per day during the first quarter, up 61% from 81,400 b/d during the same period last year.

Louisiana Releases Tuscaloosa Well Data

headlines@energyintel.com

Oil Daily
Thu., May. 10, 2012
Devon Energy's third horizontal well targeting the Tuscaloosa Marine Shale tested at a rate of 259 barrels of oil per day, according to the Louisiana Department of Natural Resources (DNR).

Enbridge Presses Ahead With Pipeline Expansion Projects

headlines@energyintel.com

Oil Daily
Thu., May. 10, 2012
Canadian pipeline giant Enbridge says it will invest an estimated C$5.2 billion (US$5.2 billion) in various projects to expand crude oil transportation capacity to the US Gulf Coast.

Oil Markets Take a One-Two Punch From Fundamentals, Economic Uncertainty

headlines@energyintel.com

Oil Market Intelligence
Thu., May. 10, 2012
Global oil prices have taken a turn and cooled off as a result of a number of factors, particularly anxiety-inducing headlines about the global economy and the fate of the eurozone, where recent elections have rocked the political and economic landscape. Physical fundamentals have also been important in keeping a lid on prices and helping spur the recent selloff to as low as $95 and $110 for Nymex West Texas Intermediate (WTI) and Brent, respectively.

Gas Needed to Replace Offline Nuclear Capacity

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Thu., May. 10, 2012
Nuclear Regulatory Commission's daily power reactor status.

Today's Short-Term Weather Forecast

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Thu., May. 10, 2012
Weather forecast from the NOAA.

Spot Cash Electricity Prices

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Thu., May. 10, 2012
Change in spot power price is from previous day.

Natural Gas/Power Spark Spreads

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NGW's Gas Market Reconnaissance
Thu., May. 10, 2012
Cost of using gas turbines of various heat efficiencies.

Contact Us

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Thu., May. 10, 2012
Contact our senior staff to discuss market conditions.

Degree Days

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Thu., May. 10, 2012
Sum of temperature variances above and below 65 degrees for six key cities.

Market Watch

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NGW's Gas Market Reconnaissance
Thu., May. 10, 2012
June gas futures tacked a couple of cents on the recent rally Thursday in the wake of an expectedly light storage report.

Briefly Noted

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Thu., May. 10, 2012
Summary of the day's energy news.

Natural Gas Spot Prices

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NGW's Gas Market Reconnaissance
Thu., May. 10, 2012
Gas deals done for next-day flow or weekend delivery.

Prompt-Month Gas Forwards

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NGW's Gas Market Reconnaissance
Thu., May. 10, 2012
Gas deals settled against the expiration price for that month.

Natural Gas Futures Contracts

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NGW's Gas Market Reconnaissance
Thu., May. 10, 2012
Results of Nymex trading for Henry Hub gas futures contracts.

Storage Report

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NGW's Gas Market Reconnaissance
Thu., May. 10, 2012
North American storage volumes as of last Friday.

Fuel Competition

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NGW's Gas Market Reconnaissance
Thu., May. 10, 2012
Spreads between volume-weighted gas prices and competing fuels.

Greek Bailout Approval Helps Brent Climb Back Into Black

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International Oil Daily
Thu., May. 10, 2012
Brent crude futures climbed back into positive territory in late trading on Wednesday, snapping five days of losses after approval of a bailout payment to Greece eased worries about eurozone debt.

US Gas Supplies Sufficient for LNG Exports, Reports New Conoco Chief

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International Oil Daily
Thu., May. 10, 2012
The US has ample natural gas supplies that are sufficient to meet its own needs and support some level of liquefied natural gas (LNG) exports, ConocoPhillips Chief Executive Ryan Lance said on Wednesday.

Brazil Output Falls in March

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International Oil Daily
Thu., May. 10, 2012
Brazil’s production of oil and condensates in March fell by 5.4% to 2.085 million b/d, according to figures from the ANP, Brazil’s oil regulator. That came despite an 11% increase in crude output from the offshore subsalt region, which yielded 130,700 b/d during the month.

Daily Oil and Gas Price Review May 9, 2012

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International Oil Daily
Thu., May. 10, 2012
Overview of domestic and international spot and futures prices for crude oil, refined petroleum products and natural gas.

Latest Market Trends May 9, 2012

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International Oil Daily
Thu., May. 10, 2012
Graphs showing recent movements in oil and natural gas futures prices and the EIF index of oil and gas company stock prices.

Stock Market Scorecard May 9, 2012

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International Oil Daily
Thu., May. 10, 2012
Stock price movements for leading companies in various subsectors of the oil and gas industry.

Loan Could Put APLNG in Business

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International Oil Daily
Thu., May. 10, 2012
The US Export-Import Bank has authorized a $2.95 billion direct loan for the Australia Pacific LNG (APLNG) liquefaction project -- a loan that could serve as the cornerstone funding needed to support the sanction of APLNG's second train later this year.

Pemex Lowers Crude Premiums

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International Oil Daily
Thu., May. 10, 2012
Mexico Crude Pricing for June 2012

China Lowers Fuel Prices

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International Oil Daily
Thu., May. 10, 2012
China said on Wednesday that it will lower gasoline and diesel prices by about 3% from Thursday in response to declines in international crude oil prices, although the moderate cut is unlikely to be sufficient to stimulate demand much in the world's second-largest oil consumer.

Norwegian Juniors Post Mixed Bag of Q1 Results

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International Oil Daily
Thu., May. 10, 2012
Norway-focused offshore players Lundin and Det Norske reported lower first-quarter earnings on Wednesday as higher tax charges and exploration costs weighed on their bottom lines, while state Petoro's profits climbed thanks to a jump in oil and gas output and strong growth in gas sales.

Time Running Out for UK's Coryton Refinery

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International Oil Daily
Thu., May. 10, 2012
Mid-May marks the expiry of a three-month tolling deal put in place by an investor group to keep the Coryton refinery in the southeastern UK operating while the administrator for bankrupted owner Petroplus seeks a longer-term solution for creditors -- preferably a sale.

Mozambique OKs Shell Bid for Cove

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International Oil Daily
Thu., May. 10, 2012
Mozambique has given its approval to Royal Dutch Shell's proposed acquisition of Cove Energy and its 8.5% interest in Offshore Area 1 in Mozambique's Rovuma Basin, clearing the way for the $1.8 billion deal to go ahead.

Rebounding Libya Output, High Prices Lift OMV Profits

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International Oil Daily
Thu., May. 10, 2012
Austria's integrated oil and gas champion OMV topped analysts' forecasts for its first-quarter results on Wednesday as rebounding production in Libya and sustained high oil prices helped boost earnings. But OMV Chief Executive Gerhard Roiss warned that ramping up output in Libya further to prewar levels will prove difficult, as security issues continue to pose a threat to operations there.

Algeria Votes, Oil Reforms Promised

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International Oil Daily
Thu., May. 10, 2012
A low turnout is predicted in Algerian elections Thursday, the first to be held in the North African oil state since the Arab Spring swept away regimes in neighbors Egypt, Libya and Tunisia. Analysts expect state-approved Islamists to poll well after a low-key campaign.

UK to Privatize Jet Fuel Pipelines

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International Oil Daily
Thu., May. 10, 2012
The UK is to enable the sale of the Government Pipeline and Storage System (GPSS), an aviation fuel pipeline network owned and run by the Ministry of Defence (MOD). It's one surprise in a wider energy bill, which features in the government's legislative plans for the coming 12 months.

Chinese Firm Makes Kyrgyzstan Oil Find

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International Oil Daily
Thu., May. 10, 2012
Chinese minnow Chzhunnen Oil Exploration has found oil in former Soviet republic Kyrgyzstan, boosting Kyrgyz hopes that more foreign players will be persuaded to invest in the country's stunted energy sector.

PTT Sets Up Myanmar Task Force

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International Oil Daily
Thu., May. 10, 2012
The former chief executive of Thai PTT Exploration and Production (PTTEP), Anon Sirisaengtaksin, will head parent PTT Group's first task force on Myanmar, which aims to present an investment plan for the country's energy industry to Myanmar officials by the end of this year, Thai newspaper The Nation reported this week.

Japan Stocks Hit 15-Week High

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International Oil Daily
Thu., May. 10, 2012
Japan’s onshore oil product inventories rose to their highest level in three and a half months, increasing by 2.8% to hit 74.99 million bbl in the week ending May 5, according to data released by the Petroleum Association of Japan trade group. This was an increase of 2.04 million bbl from the previous week. Stocks are at their highest level since Jan. 21, when they stood at 78.36 million bbl.

Beijing OKs Domestic Portions of China-Myanmar Pipelines

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International Oil Daily
Thu., May. 10, 2012
China's National Development and Reform Commission (NDRC) has approved the domestic sections of cross-border oil and gas pipelines from Myanmar to China's southwest Yunnan province, according to the website of state China National Petroleum Corp. (CNPC).

Reliance Cuts Gas Reserve Estimate

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International Oil Daily
Thu., May. 10, 2012
Reliance Industries has cut proven gas reserve estimates for its Indian blocks by 6.7% to 3.67 Tcf, the firm said in its 2011/12 annual report Tuesday. The drop, however, was less than what the market had speculated, Reuters said.

Bahrain Plans Deep Gas Wells

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International Oil Daily
Thu., May. 10, 2012
State Bahrain Petroleum Co. (Bapco) expects to see the first of a three-well exploration program targeting deep gas drilled in 2013-14, a Bapco manager said this week.

Indonesia to Pay Higher Gas Price to Conoco, Pertamina

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International Oil Daily
Thu., May. 10, 2012
Indonesia state gas distribution company PT Perusahaan Gas Negara (PGN) has agreed to pay higher gas prices to US ConocoPhillips and state Pertamina after signing two amended gas supply contracts. Officials hope the move will spur new exploration in Indonesia and help trim a government budget deficit.

Conoco Says US LNG Exports "Reasonable"

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LNG Intelligence
Thu., May. 10, 2012
Will Golden Pass join the US LNG export derby?

Repsol Diverts Cargo Amid YPF Row

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LNG Intelligence
Thu., May. 10, 2012
Repsol canceled an LNG cargo to Argentina citing concerns about creditworthiness.

Indonesia to Pay Higher Gas Price to Conoco, Pertamina

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LNG Intelligence
Thu., May. 10, 2012
Officials hope the move will spur exploration in Indonesia and help trim a gov't budget deficit.

Bahrain Plans Deep Gas Wells

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LNG Intelligence
Thu., May. 10, 2012
Bahrain Petroleum expects to see the first of a three-well exploration program in 2013-14.

Reliance Cuts Gas Reserve Estimate

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LNG Intelligence
Thu., May. 10, 2012
Reliance cut proven gas reserve estimates for its Indian blocks by 6.7% to 3.67 Tcf.

Mozambique Talks to Shell on Developing LNG

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LNG Intelligence
Thu., May. 10, 2012
"We believe what they are saying," says Mozambique's President.

Conoco Preparing to Sell Brass LNG Stake

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LNG Intelligence
Thu., May. 10, 2012
Brass LNG is expected to see a final investment decision by year-end.

LNG Market Indicators

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LNG Intelligence
Thu., May. 10, 2012
LNG Market Indicators for May 10 2012

LNG Netbacks at Key Receiving Terminals

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LNG Intelligence
Thu., May. 10, 2012
LNG Netbacks at Key Receiving Terminals for May 10 2012

The Mammoth Task Ahead

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LNG Intelligence
Thu., May. 10, 2012
President Guebuza of Mozambique talked about energy and stability.

PetroChina Eyes Valero's Aruba Refinery

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Oil Daily
Wed., May. 09, 2012
PetroChina is in talks to buy Valero Energy's shuttered 235,000 b/d refinery in Aruba, according to sources familiar with the negotiations, potentially bringing back another refinery to the troubled Atlantic market.

Latest Market Trends May 8, 2012

headlines@energyintel.com

Oil Daily
Wed., May. 09, 2012
Graphs showing recent movements in oil and natural gas futures prices and the EIF index of oil and gas company stock prices.

Stock Market Scorecard May 8, 2012

headlines@energyintel.com

Oil Daily
Wed., May. 09, 2012
Stock price movements for leading companies in various subsectors of the oil and gas industry.

Daily Oil and Gas Price Review May 8, 2012

headlines@energyintel.com

Oil Daily
Wed., May. 09, 2012
Overview of domestic and international spot and futures prices for crude oil, refined petroleum products and natural gas.

Conoco Said to Be Preparing Sale of Nigerian Assets

headlines@energyintel.com

Oil Daily
Wed., May. 09, 2012
ConocoPhillips is selling off its Nigerian oil and gas portfolio, specifically interests in four producing onshore licenses, two offshore licenses and its 17% stake in the planned Brass LNG plant -- for which a final investment decision is expected by year-end.

Oil Extends Losses on Doubts About Greek Adherence to Bailout Deal

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Oil Daily
Wed., May. 09, 2012
Oil prices weakened on Tuesday for a fifth day running as Greece's post-election uncertainty added to signs of economic slowdown on both sides of the Atlantic, fanning concerns about weakening demand for petroleum as supply increases.

Statoil Earnings, Output Rise

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Oil Daily
Wed., May. 09, 2012
Statoil's net adjusted earnings climbed 41% year-on-year to 16.8 billion kroner ($2.87 billion) in the first quarter, driven largely by high oil and gas prices and higher-than-expected production.

Anadarko Wins Utah Approval

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Oil Daily
Wed., May. 09, 2012
The Obama administration has approved a plan by Anadarko Petroleum to drill up to 3,675 wells over the next 10 years at the Greater Natural Buttes tight gas field in Utah's Uinta Basin.

CGX Guyana Well Disappoints

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Oil Daily
Wed., May. 09, 2012
Toronto-based CGX Energy said its Eagle-1 well offshore Guyana identified the presence of good quality sandstone reservoirs, but these ultimately proved to be water-bearing.

MarkWest Buys Keystone Midstream

headlines@energyintel.com

Oil Daily
Wed., May. 09, 2012
MarkWest Energy Partners said it will buy Keystone Midstream Services for $512 million to boost its processing operations in the liquids-rich Marcellus shale gas play.

Afghanistan Plans to Offer 10 Exploration Blocks in Bid Round

headlines@energyintel.com

Oil Daily
Wed., May. 09, 2012
Afghanistan plans to offer up another 10 blocks for international bidders by the end of the year, hoping to maintain momentum built on the successful award of blocks to China National Petroleum Corp. (CNPC) last December.

CNOOC Readies Deepwater Rig

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Oil Daily
Wed., May. 09, 2012
China National Offshore Oil Corp. (CNOOC) will deploy its first deepwater rig to its Liwan project in the South China Sea Wednesday.

BP Deepwater Well Cap Can Be Flown to Every Corner of the Globe

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Oil Daily
Wed., May. 09, 2012
One of the greatest challenges BP and other industry players dealt with in trying to control the 2010 blowout at its Macondo well was the lack of a containment system that would fit over the damaged wellhead and stop it from spewing oil into the Gulf of Mexico.

EIA Short-Term US Energy Outlook - May 2012

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Oil Daily
Wed., May. 09, 2012

Shell, Iraq Discuss Majnoon Cuts

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Oil Daily
Wed., May. 09, 2012
Royal Dutch Shell is in talks with Iraq to cut the production target for the Majnoon oilfield, oil ministry documents show, in a move that may prompt discussions with other companies and lead to a downsizing of the country's unrealistic output goals.

Brazil Keeps Upstream Investors on Hold

headlines@energyintel.com

Oil Daily
Wed., May. 09, 2012
Oil companies looking for new opportunities in Brazil will have to wait a while longer, as changes in senior management at state-controlled Petrobras compound the paralysis that has led to serious delays in new licensing rounds.

SandRidge Reports Strong Results From Mississippian Lime Oil Wells

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Oil Daily
Wed., May. 09, 2012
SandRidge Energy has unveiled promising results from two wells in the Mississippian Lime tight oil play in Oklahoma, supporting the company's assertion that it could turn out to be just as important to the Midcontinent region as the Bakken play is to North Dakota and Montana.

US Biofuels Mandate Comes Under Fire

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Oil Daily
Wed., May. 09, 2012
A federal mandate requiring growing volumes of biofuels to be blended into US fuel supplies is coming under fire from the oil industry and some politicians who hope to change it through legislation or litigation.

ConocoPhillips Eyes Nigeria Exit

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EI Finance
Wed., May. 09, 2012
ConocoPhillips is looking to sell out of Nigeria, offloading interests in four producing onshore licenses, two offshore licenses and a 17% stake in the yet-to-be-sanctioned Brass LNG plant.

Briefing: Is Coryton Primed to Be the 'Delta' Analog for Europe?

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EI Finance
Wed., May. 09, 2012
US airlines Delta made headlines last week with its purchase of a Pennsylvania refinery. Might a similar outcome come for the UK's Coryton plant?

Energy and Equity Market Data

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EI Finance
Wed., May. 09, 2012
How share prices of international oil, gas and service companies fared this week.

Market Comment: Integrated Oil Stocks Bridge April Declines in Oil, Broader Market

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EI Finance
Wed., May. 09, 2012
After another month of twists and turns, both equity markets and crude oil futures ended April lower than they entered. But the EIF Index bridged those declines, falling more than the S&P 500 but less than benchmark crude.

Editorial: Dividends Gone Wild

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EI Finance
Wed., May. 09, 2012
Robust oil prices have turned on the cash flow spigots for producers, so the question becomes, what to do with all that cash? One answer is bigger dividends.

Cheniere Lands Equity Investor

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EI Finance
Wed., May. 09, 2012
Cheniere Energy has landed a second preliminary equity investor for its now fully approved Sabine Pass liquefaction facility in Louisiana.

Rosneft Inks Third Arctic Partnership

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EI Finance
Wed., May. 09, 2012
Norway's Statoil has become the third foreign firm to ink a cooperation agreement with Rosneft offshore Russia.

Putin Pledges Tight Oil Tax Breaks

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EI Finance
Wed., May. 09, 2012
Russian President Vladimir Putin has outlined tax breaks for tight oil development starting in 2013 in the hope of boosting output by 2 million b/d.

Pemex Sees Profits, Taxes Rise

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EI Finance
Wed., May. 09, 2012
Mexican state oil firm Pemex reported a first-quarter net profit of 33.9 billion pesos ($2.6 billion), up from just 1.5 billion pesos in the same period of last year.

Mimi Buys $2B Browse Stake

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EI Finance
Wed., May. 09, 2012
Japan's Mitsui and Mitsubishi "Mimi" joint venture has agreed to pay $2 billion for a 14.7% stake in Woodside Petroleum's 12 million ton/yr Browse LNG project offshore Western Australia and has signed up to be the project's first customers, lifting 1.5 million tons/yr of LNG.

PTTEP and Shell: A Sign of Things to Come?

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EI Finance
Wed., May. 09, 2012
Royal Dutch Shell's decision to only match PTTEP's offer for East Africa-focused Cove Energy may serve as a broader warning to all midsized NOCs: Acquiring new resources is ever more competitive and a game that will be increasingly difficult to play.

Arab Spring Fallout Pushes Mideast Budgets Above $100/bbl

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EI Finance
Wed., May. 09, 2012
Latest projections from the International Monetary Fund show a growing number of Mideast oil exporters will need an oil price of well over $100 per barrel to balance their books in 2012.

Market in Shock Over Steep Hike in Russian Gas Taxes

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EI Finance
Wed., May. 09, 2012
Russia's gas producers had expected tax hikes in their future, but the magnitude of the ramp up announced last week shocked investors and companies alike.

BG Sheds Downstream Assets to Avert Jump in Debt

headlines@energyintel.com

EI Finance
Wed., May. 09, 2012
UK gas giant BG Group revealed significant inflation at its Queensland Curtis LNG project last week -- pressure that appears to have spurred an accelerated disposal of the company's noncore assets.

Spot LNG: Spot LNG Exporter Netbacks at Key Markets Worldwide

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World Gas Intelligence
Wed., May. 09, 2012
Spot LNG Exporter Netbacks at Key Markets Worldwide, calculated in part on the basis of WGI price assessments for Southwest Europe and Northeast Asia.

MARKET INSIGHT: Asian LNG Markets

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World Gas Intelligence
Wed., May. 09, 2012
Prices and volumes from Asian LNG markets.

Current: Gas and Power Prices for Major US and European Hubs

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World Gas Intelligence
Wed., May. 09, 2012
Gas and power prices for major US and European hubs.

Market Insight: US and UK Gas Futures Prices

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World Gas Intelligence
Wed., May. 09, 2012
Gas futures prices in the US and the UK.

Reliance Plays Risky Indian Game

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World Gas Intelligence
Wed., May. 09, 2012
Reliance and new partner BP risk losing their prized KG-D6 Block offshore India in a row over cost recovery.

Asian Prices Jump on Strong Demand, Gain Less in Europe

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World Gas Intelligence
Wed., May. 09, 2012
Spot LNG prices jumped in Northeast Asia this week and also rose in Southwest Europe.

Cyprus Upbeat on Gas Hotspot

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World Gas Intelligence
Wed., May. 09, 2012
Big players may steer clear of Cyprus' second bid round, despite government hopes for a good turnout.

MARKET INSIGHT: Northeast Asian Buyers Lap up More LNG

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World Gas Intelligence
Wed., May. 09, 2012
Northeast Asian buyers continued to lap up LNG in the first quarter of 2012 on seasonal winter demand.

Yemen LNG Fears More Attacks

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World Gas Intelligence
Wed., May. 09, 2012
Yemen LNG is worried that two bomb attacks in less than a month could herald a sustained bombing campaign.

Gazprom's Export Paralysis

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World Gas Intelligence
Wed., May. 09, 2012
The top-level struggle for control of Gazprom's export strategy will likely continue under President Putin.

Repsol Diverts Cargo Amid YPF Row

headlines@energyintel.com

World Gas Intelligence
Wed., May. 09, 2012
Repsol has canceled an LNG cargo to Argentina citing concerns about creditworthiness -- but some suspect in reprisal for YPF's nationalization.

Croatian LNG Plans in Limbo

headlines@energyintel.com

World Gas Intelligence
Wed., May. 09, 2012
Slumping European gas demand is undermining attempts to line up alternatives to Russian gas.

Australian Cost Hike Takes Shine off BG Results

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World Gas Intelligence
Wed., May. 09, 2012
Soaring costs at BG's QCLNG project in Australia soured what was an otherwise good first quarter.

CARBON: European Drivers Fail to Get Charge From Electric Cars

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World Gas Intelligence
Wed., May. 09, 2012
Electric cars are still failing to grab drivers' imagination, largely because of price.

HORIZON: Canada Lines Up Plans for LNG Exports to Asia

headlines@energyintel.com

World Gas Intelligence
Wed., May. 09, 2012
Like the US, Canada was talking of LNG imports as recently as five years ago. Today, it is planning LNG exports.

CNOOC Steals LNG Inland Shipping March

headlines@energyintel.com

World Gas Intelligence
Wed., May. 09, 2012
CNOOC wants to extend its LNG marketing reach to inland areas not served by gas pipelines.

CURRENT: Germany Highlights Gas in Power Market Future

headlines@energyintel.com

World Gas Intelligence
Wed., May. 09, 2012
Germany may have to use a lot more gas in its energy mix when it phases out nuclear power.

Gas Needed to Replace Offline Nuclear Capacity

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Wed., May. 09, 2012
Nuclear Regulatory Commission's daily power reactor status.

Today's Short-Term Weather Forecast

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Wed., May. 09, 2012
Weather forecast from the NOAA.

Spot Cash Electricity Prices

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Wed., May. 09, 2012
Change in spot power price is from previous day.

Natural Gas/Power Spark Spreads

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Wed., May. 09, 2012
Cost of using gas turbines of various heat efficiencies.

Contact Us

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Wed., May. 09, 2012
Contact our senior staff to discuss market conditions.

Degree Days

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Wed., May. 09, 2012
Sum of temperature variances above and below 65 degrees for six key cities.

Market Watch

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Wed., May. 09, 2012
June gas futures moved 3% higher Wednesday, capping a three-day 18.6-cent rally to $2.465/MMBtu.

Briefly Noted

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Wed., May. 09, 2012
Summary of the day's energy news.

Natural Gas Spot Prices

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Wed., May. 09, 2012
Gas deals done for next-day flow or weekend delivery.

Prompt-Month Gas Forwards

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Wed., May. 09, 2012
Gas deals settled against the expiration price for that month.

Natural Gas Futures Contracts

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Wed., May. 09, 2012
Results of Nymex trading for Henry Hub gas futures contracts.

Fuel Competition

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Wed., May. 09, 2012
Spreads between volume-weighted gas prices and competing fuels.

Valero's Aruba Refinery Eyed by PetroChina

headlines@energyintel.com

International Oil Daily
Wed., May. 09, 2012
PetroChina is in talks to buy Valero Energy's shuttered 235,000 b/d refinery in Aruba, according to sources familiar with the negotiations, potentially bringing back another refinery to the troubled Atlantic market.

Guyana Well Falls Short of Expectations

headlines@energyintel.com

International Oil Daily
Wed., May. 09, 2012
Toronto-based CGX Energy said its Eagle-1 well offshore Guyana identified the presence of good quality sandstone reservoirs, but these ultimately proved to be water-bearing.

Crude Prices Continue Losses on Greek Bailout Deal Concerns

headlines@energyintel.com

International Oil Daily
Wed., May. 09, 2012
Oil prices weakened on Tuesday for a fifth day running as Greece's post-election uncertainty added to signs of economic slowdown on both sides of the Atlantic, fanning concerns about weakening demand for petroleum as supply increases.

Daily Oil and Gas Price Review May 8, 2012

headlines@energyintel.com

International Oil Daily
Wed., May. 09, 2012
Overview of domestic and international spot and futures prices for crude oil, refined petroleum products and natural gas.

Latest Market Trends May 8, 2012

headlines@energyintel.com

International Oil Daily
Wed., May. 09, 2012
Graphs showing recent movements in oil and natural gas futures prices and the EIF index of oil and gas company stock prices.

Stock Market Scorecard May 8, 2012

headlines@energyintel.com

International Oil Daily
Wed., May. 09, 2012
Stock price movements for leading companies in various subsectors of the oil and gas industry.

Petrobras Senior Management Movements Delay Upstream Investors

headlines@energyintel.com

International Oil Daily
Wed., May. 09, 2012
Oil companies looking for new opportunities in Brazil will have to wait a while longer, as changes in senior management at state-controlled Petrobras compound the paralysis that has led to serious delays in new licensing rounds.

Gas Natural Confident in Argentina

headlines@energyintel.com

International Oil Daily
Wed., May. 09, 2012
Spain's Gas Natural said on Tuesday it was not expecting an expropriation of its business in Argentina and had not provisioned for a loss of assets in the country.

Conoco to Sell Nigerian Assets

headlines@energyintel.com

International Oil Daily
Wed., May. 09, 2012
ConocoPhillips is selling off its Nigerian oil and gas portfolio, specifically interests in four producing onshore licenses, two offshore licenses and its 17% stake in the planned Brass LNG plant -- for which a final investment decision is expected by year-end.

Shell Seeks Cuts to Iraq Target

headlines@energyintel.com

International Oil Daily
Wed., May. 09, 2012
Royal Dutch Shell is in talks with Iraq to cut the production target for the Majnoon oil field, oil ministry documents show, in a move that may prompt discussions with other companies and lead to a downsizing of the country's unrealistic output goals.

Statoil Posts Higher Profit, Lifts Lid on Rosneft Deal

headlines@energyintel.com

International Oil Daily
Wed., May. 09, 2012
Statoil’s net adjusted earnings climbed 41% year-on-year to 16.8 billion kroner ($2.87 billion) in the first quarter, ahead of analyst consensus forecasts, driven largely by high oil and gas prices and higher-than-expected production.

Kuwait Targets Permanent LNG Import Facility by 2017

headlines@energyintel.com

International Oil Daily
Wed., May. 09, 2012
Kuwait could have a permanent LNG facility on line by 2017, a top executive from state Kuwait Petroleum Corp. (KPC) said Tuesday.

Analysts Debate Diminished 'Iran Premium' in Oil Markets

headlines@energyintel.com

International Oil Daily
Wed., May. 09, 2012
A more conciliatory tone from Iran over its nuclear program has helped pushed down oil prices lately, but some experts don’t expect that trend to hold for too long. Even if Iran and the West agree to rapprochement on the nuclear issue, Jamie Webster, a senior manager at PFC Energy, believes that crude oil prices will remain over $100 per barrel.

Kazakh Explorer Roxi Posts Loss

headlines@energyintel.com

International Oil Daily
Wed., May. 09, 2012
Kazakhstan-focused oil and gas company Roxi Petroleum posted a net loss of $9.4 million in 2011, narrowing the loss of $54 million it posted in 2010.

Ukraine Reveals Tanap Interest

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International Oil Daily
Wed., May. 09, 2012
Prime Minister Mykola Azarov says Ukraine is keen to play a role in building the Trans-Anatolian pipeline (Tanap) that has emerged as the favorite to carry gas from Azerbaijan's offshore Shah Deniz field across Turkey en route to Europe.

UK Environment Czar Backs Fracking

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International Oil Daily
Wed., May. 09, 2012
UK Environment Agency Chairman Chris Smith has spoken in favor of hydraulic fracturing, or fracking. His remarks are influential but, as yet, no final government decision on resumption of shale development via fracking has been taken.

Agoco, NOC Dispute Output Cut

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International Oil Daily
Wed., May. 09, 2012
Libya's state Arabian Gulf Oil Co. (Agoco) is producing 340,000 b/d after first cutting output by 20,000 b/d on Thursday, and a further 10,000 b/d on Friday, as armed protesters continue to block access to its headquarters in Benghazi, a company spokesman told International Oil Daily on Tuesday. But parent company state National Oil Corp. (NOC) issued a statement over the weekend saying there was no truth to the reports about Agoco cutting production.

Market Eye: Suezmaxes Dominate Fuel Oil Arb

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International Oil Daily
Wed., May. 09, 2012
Europe’s fuel oil exporters are using smaller Suezmax tankers rather than their usual very large crude carriers (VLCCs) to work the structural flow of Russian high-sulfur fuel oil to Singapore -- swapping diminishing economies of scale for faster journey times and more marketable parcel sizes.

Afghanistan to Dangle More Blocks After Chinese Bite

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International Oil Daily
Wed., May. 09, 2012
Afghanistan plans to offer up another 10 blocks for international bidders by the end of the year, hoping to maintain momentum built on the successful award of blocks to China National Petroleum Corp. last December.

Record Volumes for DME in April

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International Oil Daily
Wed., May. 09, 2012
The Dubai Mercantile Exchange (DME) said Tuesday that its average daily traded volumes hit a new record high in the month of April with 6,158 contracts. This was up from a previous high of 5,378, set in February.

REE Chief Visits Bolivia

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International Oil Daily
Wed., May. 09, 2012
Bolivia's Energy Minister Juan Jose Sosa met the chief executive of Spanish power grid REE Jose Folgado in La Paz on Monday, in what REE described as the start of a negotiating process aimed at settling compensation by Bolivia for its nationalization of REE's 99.94% stake in local power transmission grid TDE.

Gamesa Drops US Offshore Plans

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International Oil Daily
Wed., May. 09, 2012
Spanish wind turbine maker Gamesa has dropped plans to build, locate and test a 5 MW offshore prototype wind turbine in US waters at Cape Charles in Virginia; instead the G128 prototype model will be tested at Arinaga Quay in Gran Canaria.

Canning Shale Estimates Confirmed

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International Oil Daily
Wed., May. 09, 2012
An independent resource assessment for the Valhalla area of Western Australia's Canning Basin has confirmed it contains significant amounts of unconventional gas and condensates.

CNOOC Readies First Deepwater Rig

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International Oil Daily
Wed., May. 09, 2012
China National Offshore Oil Corp. (CNOOC) will deploy its first deepwater rig to its Liwan project in the South China Sea Wednesday. The CNOOC 981 semisubmersible rig, which can operate at a water depth of 3,000 meters, was lauded by the National Energy Bureau (NEB) as a key initial milestone in China's drive toward deepwater exploration.

Sinopec Poised to Overtake PetroChina in Sichuan Gas

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International Oil Daily
Wed., May. 09, 2012
Sinopec is challenging to replace PetroChina as the largest natural gas producer in China's biggest gas province of Sichuan in the country's southwest. Industry officials said a lack of proven gas reserves at mature gas fields has been plaguing PetroChina's gas production in Sichuan over recent years.

Kuwait Targets Permanent LNG Import Facility by 2017

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LNG Intelligence
Wed., May. 09, 2012
The only questions that remain are location, capacity, and design.

US Ex-Im Bank Approves $3B to Assist APLNG

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LNG Intelligence
Wed., May. 09, 2012
US promotes Australian LNG exports.

Reliance D6 Output to Keep Sinking

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LNG Intelligence
Wed., May. 09, 2012
India's LNG imports to keep rising.

UK Environment Czar Backs Fracking

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LNG Intelligence
Wed., May. 09, 2012
UK Environment Agency Chairman Chris Smith has spoken in favor.

Canning Shale Estimates Confirmed

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LNG Intelligence
Wed., May. 09, 2012
Western Australia's Canning Basin becomes shale hotspot.

Sinopec Poised to Overtake PetroChina in Sichuan

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LNG Intelligence
Wed., May. 09, 2012
Sinopec is challenging PetroChina in the country's southwest.

Bentek Energy's Gas Metrics US LNG Imports

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LNG Intelligence
Wed., May. 09, 2012
Bentek Energy's Gas Metrics US LNG Imports

LNG Market Indicators

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LNG Intelligence
Wed., May. 09, 2012
LNG Market Indicators for May 9 2012

LNG Netbacks at Key Receiving Terminals

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LNG Intelligence
Wed., May. 09, 2012
LNG Netbacks at Key Receiving Terminals for May 9 2012

UK Shale 'Ticks the Box'

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LNG Intelligence
Wed., May. 09, 2012
British self-reliance might win out.