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PIW Market Indicators

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Petroleum Intelligence Weekly
Mon., May. 21, 2012
PIW Market Indicators

Caspian Producers Seek Answers to Export Puzzle

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Petroleum Intelligence Weekly
Mon., May. 21, 2012
Crude oil exports from the Caspian Sea region, currently running at a steady 2 million b/d, are set to climb over the next few years as Kazakhstan's supergiant Kashagan field finally comes on stream and as production from the Chevron-operated Tengiz development reaches its peak. But a shortage of pipeline capacity -- a perennial problem in the Caspian -- makes it far from clear where the extra barrels will end up. This is a particular challenge for the partners at Kashagan.

CORPORATE

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Petroleum Intelligence Weekly
Mon., May. 21, 2012
Norway's Statoil will invite Russian state oil giant Rosneft to participate in projects offshore Norway and elsewhere under a strategic alliance signed by the two companies earlier this month.

UKRAINE

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Petroleum Intelligence Weekly
Mon., May. 21, 2012
Royal Dutch Shell and Chevron have emerged as the winners in the country's shale gas tender, Prime Minister Mykola Azarov confirmed last week.

INDIA

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Petroleum Intelligence Weekly
Mon., May. 21, 2012
Under pressure from the US to cut its imports of Iranian oil, New Delhi has said that it is aiming to buy 11% less crude from Iran in the fiscal year that began in April.

Eni Probe Not Expected to Affect Kashagan Timetable

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Petroleum Intelligence Weekly
Mon., May. 21, 2012
Development work on Kazakhstan's Kashagan oil field will not be affected by allegations of fraud against the Eni subsidiary involved in the project by Italian prosecutors. The giant Caspian Sea field is still set to start production at the end of this year, according to a senior Kazakh official

QATAR

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Petroleum Intelligence Weekly
Mon., May. 21, 2012
The country's sovereign wealth funds have been on a corporate shopping spree, with Qatar Holding, a subsidiary of the state Qatar Investment Authority, acquiring a 3% stake in French major Total and a small but valuable holding in Anglo-Dutch supermajor Royal Dutch Shell.

MOZAMBIQUE

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Petroleum Intelligence Weekly
Mon., May. 21, 2012
The country's offshore gas potential continues to grow at a startling pace, with two huge new discoveries announced last week lifting resource estimates for the deepwater Rovuma Basin close to 100 Tcf.

Setbacks Replace Success in West African Deepwater

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Petroleum Intelligence Weekly
Mon., May. 21, 2012
Ghana's giant deepwater Jubilee field was a dream discovery that overnight revived explorers' waning enthusiasm for West Africa. But the quest for Jubilee look-alikes in West African waters is proving frustrating. A string of noncommercial discoveries is cooling the excitement that Jubilee created, while Jubilee itself is underperforming. Teething troubles at new fields and extravagant claims about new plays were perhaps to be expected, but drilling setbacks are tempering the initial exuberance.

CHINA

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Petroleum Intelligence Weekly
Mon., May. 21, 2012
Chinaoil, the trading arm of state PetroChina, is in talks to buy US refiner Valero Energy's shuttered 235,000 b/d refinery on the Caribbean island of Aruba.

Light, Sweet Glut Creates Dilemma for US Refiners

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Petroleum Intelligence Weekly
Mon., May. 21, 2012
The sea-change in the US domestic oil supply outlook is presenting a dilemma for the country's refiners. Increasing volumes of relatively cheap light, sweet crude are now available from shale plays such as the Eagle Ford and the Bakken, and refiners are happily running more of these grades. But having recently spent billions adding heavy, sour crude processing capacity, they seem reluctant to spend big again to run even more of these light, sweet volumes.

Majors Bet Big on Cellulosic Ethanol

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Petroleum Intelligence Weekly
Mon., May. 21, 2012
Royal Dutch Shell's recent decision to shelve plans for its first commercial-scale cellulosic ethanol plant with Canadian partner Iogen appeared a setback for the agricultural waste-derived advanced biofuel. But the broader trend in the sector is in fact toward increasing involvement by major oil companies who had otherwise seemed to be losing interest in renewable energy, according to PIW's new sister publication New Energy.

Minas Touch

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Petroleum Intelligence Weekly
Mon., May. 21, 2012
North Sea Dated Brent has established an impressive position as a benchmark in Asia-Pacific crude markets, but further progress continues to be hampered by Indonesia's reluctance to drop its flawed medium sweet marker, Minas.

IEA

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Petroleum Intelligence Weekly
Mon., May. 21, 2012
Geopolitical risk should keep oil prices high this year, despite relatively weak market fundamentals, the International Energy Agency (IEA) argues in its latest monthly oil market report.

Ample Stocks Put Oil Market in Comfort Zone

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Petroleum Intelligence Weekly
Mon., May. 21, 2012
Concerns over the global economy and heavy losses in equities have been the main factors behind the recent slide in crude prices. But oil markets might have been better placed to resist pressure from the sell-off in other financial markets if underlying fundamentals had been tight. The reality is that they are anything but -- April saw a huge 1.9 million barrel per day build in global inventories.

Colombia the Pick of South America's Bid Rounds

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Petroleum Intelligence Weekly
Mon., May. 21, 2012
Against a backdrop of resurgent resource nationalism in some parts of South America, three producers in the Andean region -- Colombia, Peru and Bolivia -- are holding exploration licensing rounds this year, and hoping that the lure of their geology will trump concerns over security, social unrest and contract sanctity.

ARGENTINA

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Petroleum Intelligence Weekly
Mon., May. 21, 2012
Spain's Repsol has initiated legal proceedings against the government over last month's expropriation of a controlling 51% stake in its local affiliate YPF.

IRAQ

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Petroleum Intelligence Weekly
Mon., May. 21, 2012
The Iraqi-Kurdish Kar Group has begun work on a pipeline connecting Genel Energy’s Taq Taq field to the country’s main northern export pipeline to Turkey via a tie-in at its Khurmala field, and is also building a gas pipeline extension from the Erbil power station.

SAUDI ARABIA

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Petroleum Intelligence Weekly
Mon., May. 21, 2012
Oil Minister Ali Naimi has affirmed that Riyadh believes it is in the kingdom's "fundamental long-term economic interest" to develop renewable energy to “supplement existing energy sources [and] help prolong our continued export of crude oil.”

Putin's Return Brings Modest Progress on Tax

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Petroleum Intelligence Weekly
Mon., May. 21, 2012
For the country's oil sector, Vladimir Putin's second incarnation as Russian President has got off to a promising start, with a series of announcements on proposed tax reforms and incentives aimed at encouraging upstream development. Changes to offshore taxation were unveiled last month to coincide with the finalization of state oil giant Rosneft's groundbreaking strategic alliance with Exxon Mobil, and Putin has followed this up with further changes and incentives focusing on onshore tight oil.

SAUDI ARABIA

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Petroleum Intelligence Weekly
Mon., May. 21, 2012
The kingdom's oil output soared to over 10.1 million barrels per day in April, above the recent peak of 10.047 million b/d set in November last year and its highest level in more than three decades, according to official Saudi production data.

CANADA

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Petroleum Intelligence Weekly
Mon., May. 21, 2012
The country needs to move quickly if it wants to join the ranks of global LNG players and secure new markets in Asia for its currently low-priced gas, according to a new report from consultancy Ernst & Young.

CYPRUS

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Petroleum Intelligence Weekly
Mon., May. 21, 2012
The government has received 15 bids for nine out of 12 offshore blocks on offer in its politically sensitive second licensing round.

Latest Market Trends May 18, 2012

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Oil Daily
Mon., May. 21, 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 18, 2012

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Oil Daily
Mon., May. 21, 2012
Stock price movements for leading companies in various subsectors of the oil and gas industry.

Daily Oil and Gas Price Review May 18, 2012

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Oil Daily
Mon., May. 21, 2012
Overview of domestic and international spot and futures prices for crude oil, refined petroleum products and natural gas.

US Natgas Extends Rally, Up More Than 40% From April Lows

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Oil Daily
Mon., May. 21, 2012
June natural gas futures shot 5.7% higher Friday to cap a bullish weeks-long surge into the mid-$2.70s.

Brent's Fall Slows But Crude Prices Decline for Third Straight Week

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Oil Daily
Mon., May. 21, 2012
After a week in which Brent crude futures lost slightly more than $5 amid anxiety about the eurozone debt crisis and the future of the euro, Brent showed signs of stabilization on Friday.

Pemex Sets Date for Contract Awards

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Oil Daily
Mon., May. 21, 2012
Mexican state oil company Pemex has confirmed that it will announce results of a second round of third party oil exploration and production contracts Jun. 19 -- less than two weeks before Mexico's presidential and congressional elections on Jul. 1.

Spain's Repsol Cancels All LNG Sales to Argentina

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Oil Daily
Mon., May. 21, 2012
Spain’s Repsol has canceled all LNG sales to Argentina after the government there expropriated most of the firm’s stake in YPF, Argentina’s largest oil and gas producer, earlier this month.

US Rig Count: Oil +10, Gas +2

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Oil Daily
Mon., May. 21, 2012
Baker Hughes US rotary rig count for the week ended: Oil +10, Gas +2.

Repsol Cuba Well Fails

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Oil Daily
Mon., May. 21, 2012
Repsol said Friday that the first of three planned wells in Cuban waters was unsuccessful, a blow to Cuba's hopes for energy independence.

Chevron in Pole Position as US Allows Firms to Invest in Myanmar

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Oil Daily
Mon., May. 21, 2012
The US made a U-turn last week when it suspended sanctions on Myanmar (Burma), opening the door for American oil and gas companies to invest in the gas-rich Southeast Asian country barely more than a month after saying that it would launch a progressive and targeted easing of sanctions that was expected to keep the energy sector out of reach for US investors.

Oil Sands Output 'Set to Explode'

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Oil Daily
Mon., May. 21, 2012
While everyone agrees that Alberta's oil sands production is set to increase dramatically, there is a wide range of opinion as to how much.

Banks Could Seize Grupo Petersen's YPF Shares as Collateral

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Oil Daily
Mon., May. 21, 2012
Argentina’s Grupo Petersen, which holds a 25.5% stake in YPF, has defaulted on loans totaling $400 million, which could result in a syndicate of banks taking all of the company’s YPF shares in lieu.

Affiliate Buys El Paso Assets

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Oil Daily
Mon., May. 21, 2012
El Paso Pipeline Partners said it will acquire Cheyenne Plains Gas Pipeline and the remaining interest in Colorado Interstate Gas it does not already own from El Paso Corp. for $635 million.

CFTC to Relax Trading Rule

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Oil Daily
Mon., May. 21, 2012
The Commodity Futures Trading Commission (CFTC) is set to make it easier for traders to avoid triggering curbs aimed at reining in speculation in commodities markets, according to two people briefed on the matter.

Alberta Premier to Visit China

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Oil Daily
Mon., May. 21, 2012
Alberta Premier Alison Redford is planning a visit to China next month to talk up the province's abundant oil sands resources and hopefully attract more Chinese investment.

El Paso Plans LNG Exports

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Oil Daily
Mon., May. 21, 2012
US natural gas producer and pipeline operator El Paso Corp. has joined the growing ranks of companies hoping to export liquefied natural gas overseas, filing an export license for its existing Elba Island import terminal in Georgia.

Turkey Issues Cyprus Gas Warning

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Oil Daily
Mon., May. 21, 2012
Turkey said on Friday that companies bidding to develop Cyprus' offshore gas fields would be shut out of Turkish energy projects, amid a spat between the rivals about who has rights to potentially vast reserves in the east Mediterranean.

Futures Industry Seeks to Protect Clients After MF Global Meltdown

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Oil Daily
Mon., May. 21, 2012
The collapse of derivatives broker MF Global late last year continues to reverberate throughout the industry, and although progress has been made to strengthen customer protections, the industry and regulators still have a ways to go.

Barclays Ups Estimate for Global E&P Spending

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Oil Daily
Mon., May. 21, 2012
Barclays Capital is now projecting that global exploration and production spending will hit a record $614 billion in 2012, up from an original forecast of $598 billion that it released in December.

India Supports Tapi Pipeline

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Oil Daily
Mon., May. 21, 2012
India on Thursday cleared the way for a state-owned utility to purchase natural gas from Turkmenistan through the long-discussed Turkmenistan-Afghanistan-Pakistan-India gas pipeline, a project with strong US backing.

Can Another Ailing US Northeast Refinery Be Saved?

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Oil Daily
Mon., May. 21, 2012
Opinions are divided as to whether Sunoco and private equity firm Carlyle Group can cut a deal to keep Sunoco’s 335,000 barrel-per-day Philadelphia refinery open beyond August.

NOTICE TO SUBSCRIBERS

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Jet Fuel Intelligence
Mon., May. 21, 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.

Energy Intelligence Launches New Energy

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Jet Fuel Intelligence
Mon., May. 21, 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.

Jet Fuel Intelligence Data

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Jet Fuel Intelligence
Mon., May. 21, 2012
Spot Cargo, Futures Market Prices, Distillate Crack Spreads, Biofuel Prices, Global Carbon Prices, EU Carbon Futures Prices, and EU Carbon Forward Curve

US Supply, Demand and Stock Trends at a Glance

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Jet Fuel Intelligence
Mon., May. 21, 2012
A Look at Weekly US Supply, Demand and Stock Trends

Pacific Snapshot: Japanese Demand Growth Met by Imports

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Jet Fuel Intelligence
Mon., May. 21, 2012
Stocks across the Pacific Basin fell sharply during the first two months of the year with Japanese inventories falling by almost 15% as traders sought to minimize their end March tax bills.

UNITED KINGDOM

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Jet Fuel Intelligence
Mon., May. 21, 2012
A deal to buy out the 220,000 barrels per day Coryton refinery from bankrupt pan-European merchant refiner Petroplus could be imminent, with the European parliament member for the area telling Jet Fuel Intelligence he had spoken May 17 with one of two possible bidders looking to finalize a rescue soon.

Aviation Forum Assesses Risks at IATA Meeting in Chicago

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Jet Fuel Intelligence
Mon., May. 21, 2012
The International Air Transport Association's (IATA) Fuel Forum drew more than 500 delegates to Chicago last week to assess the pressing issues facing the aviation sector. High oil prices and upheaval in the eurozone overshadowed the event as the agenda ran through topics ranging from repercussions for airlines of refinery closures in the US Northeast to the impact of geopolitics on jet fuel demand and prices.

Greek Tragedy

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Jet Fuel Intelligence
Mon., May. 21, 2012
The global oil market's main price driver is no longer major oil producer Iran but now Greece -- a country whose 11.5 million population consumes barely 340,000 barrels of oil per day.

TRADING

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Jet Fuel Intelligence
Mon., May. 21, 2012
Russia's Lukoil International Trading and Supply Co. is keen to set itself apart from fellow international oil trading companies Vitol, Glencore and Trafigura as it looks to expand into Spain's jet fuel and diesel markets after investing in a new diesel and jet fuel import terminal in Barcelona.

European Sporting Events Force Airspace Redesign

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Jet Fuel Intelligence
Mon., May. 21, 2012
Polish and Ukrainian airspace has been completely redesigned by the region's air traffic control agency, Eurocontrol, to cope with this year's Euro 2012 football tournament and the potential 150 extra flights per day to the two host nations during the Jun. 8-Jul. 1 competition.

EMISSIONS TRADING

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Jet Fuel Intelligence
Mon., May. 21, 2012
The European Commission has reported "systematic non-reporting of 2011 emissions from flights to or from EU airports by airlines based in China and India," against an otherwise "very high level of compliance."

Baker Hughes Rig Count

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Natural Gas Week
Mon., May. 21, 2012
Baker Hughes US rotary rig count for the week ended: Oil +10, Gas +2.

Gas Price Report

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Natural Gas Week
Mon., May. 21, 2012
This week's summary of overall gas price trends.

Canadian Price Report

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Natural Gas Week
Mon., May. 21, 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. 21, 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. 21, 2012
How this week's average coal and petroleum fuel prices compared to natural gas market prices.

Spot Electricity Trading

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Natural Gas Week
Mon., May. 21, 2012
This week's average price for reported spot electricity trades.

North American Weekly Gas Storage

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Natural Gas Week
Mon., May. 21, 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. 21, 2012
This week's trading summary and 12-month-strip movements for the CME/Nymex Henry Hub natural gas contract.

Prices and Differentials for Major Hubs and Selected City Gates

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Natural Gas Week
Mon., May. 21, 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. 21, 2012
This week's natural gas intrastate spot prices.

Natural Gas Weekly Spot Prices

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Natural Gas Week
Mon., May. 21, 2012
This week's natural gas weekly spot prices for interstate pipelines in the US and Canada.

Repsol Reports First Cuban Well a Bust

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Natural Gas Week
Mon., May. 21, 2012
The first of three wells planned off the coast of Cuba and less than 60 miles off the coast of Florida has come up dry.

Bentek: NGLs Surplus to Last to Mid-Decade, Infrastucture Needed

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Natural Gas Week
Mon., May. 21, 2012
Natural gas liquids producers had a great year in 2011, but growing surpluses are ungilding the lily.

US LNG Exports Will Be Needed as Global Gas Use Outstrips Supply

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Natural Gas Week
Mon., May. 21, 2012
US LNG exports will be vital after 2015 as demand will outstrip supply by 5 Bcf/d without it, Bentek Energy analysts say.

June Gas Futures Rally to $2.70s; Contract Up 44% Since April Low

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Natural Gas Week
Mon., May. 21, 2012
US June natural gas futures shot 5.7% higher Friday to cap a bullish weeks-long surge into the mid-$2.70s.

Shareholders Get Vocal During a Rough Week for Chesapeake Energy

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Natural Gas Week
Mon., May. 21, 2012
Chesapeake Energy saw a tumultuous week as shareholders clamoring for new board member nominations and a court-ordered delay of the company's annual shareholder meeting.

Investor Coalitions Call for Fracking Disclosure, Non-Toxic Ingredients

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Natural Gas Week
Mon., May. 21, 2012
Investor coalitions are urging natural gas producers and drilling contractors to adopt ambitious best practices.

Economides: NatGas Prices Will Bounce Back to $8/Mcf Long Term

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Natural Gas Week
Mon., May. 21, 2012
Natural gas may be sporting a $2 handle now, but that could be a distant memory by the end of the decade.

LNG UPDATE: Proposed US LNG Export Projects Seeking DOE OK Grows to Thirteen

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Natural Gas Week
Mon., May. 21, 2012
Three more projects have been added to the list of US LNG export projects seeking US Department of Energy clearance.

WORLD: Australian Non-Shale Reserves at 390 Tcf

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Natural Gas Week
Mon., May. 21, 2012
Even without shale gas, Australian gas production could run for 184 years, the government said.

WORLD: Japan Consumes More LNG With Nukes Down

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Natural Gas Week
Mon., May. 21, 2012
Japan's LNG consumption rose 33% in April from a year ago.

WORLD: East Africa Racks Up Additional Gas Finds, Reinforces LNG Exports

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Natural Gas Week
Mon., May. 21, 2012
Eni has reported a massive new natural gas discovery offshore Mozambique.

Rival Energy Forms Face Complex Landscape, New Energy Data Shows

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Natural Gas Week
Mon., May. 21, 2012
Renewable energy is becoming increasingly competitive with conventional energy, the latest data from New Energy shows.

CURRENT: BOEM Moves to Make Atlantic Offshore Wind Reality

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Natural Gas Week
Mon., May. 21, 2012
A federal agency is on track to hold a lease sale for wind projects offshore six East Coast states.

CANADA: Shell-Led LNG Project in BC Gaining Momentum

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Natural Gas Week
Mon., May. 21, 2012
Shell Canada and its partners are officially launching a multibillion-dollar LNG export project at Kitimat, British Columbia.

WORLD: Total Plugs Spewing Well in North Sea

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Natural Gas Week
Mon., May. 21, 2012
A natural gas leak on a North Sea platform has been stopped after heavy drilling mud was pumped into the well.

MARKET VIEW: Surge in Gas-Fired Power Demand Behind Futures Rally, But Jury Out

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Natural Gas Week
Mon., May. 21, 2012
US gas futures hit the $2.70s last week, 80¢ above April lows, but some say gains are tied to perception not reality.

'Coordinated Cyber Intrusions' Via Emails Real, Growing Threat

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Natural Gas Week
Mon., May. 21, 2012
US natural gas pipeline companies recently found themselves on the receiving end of "coordinated cyber intrusions."

ROUNDUP: Exploration & Production:

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Natural Gas Week
Mon., May. 21, 2012
The US Interior Department updated its estimate of the number of federal oil and gas leases that are idle, reviving a longstanding debate.

ROUNDUP: Macondo Aftermath:

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Natural Gas Week
Mon., May. 21, 2012
Attorneys for Macondo criminal defendent Kurt Mix said they have evidence proving his innocence.

ROUNDUP: Legal & Legislative:

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Natural Gas Week
Mon., May. 21, 2012
Vermont Gov. Peter Shumlin has signed into law the nation’s first ban on hydraulic fracturing.

ROUNDUP: Mergers & Acquisitions:

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Natural Gas Week
Mon., May. 21, 2012
Concho Resources will buy Three Rivers Operating’s oil and natural gas assets for $1 billion in cash.

ROUNDUP: Regency Energy Partners Planning Additional Eagle Ford Gathering

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Natural Gas Week
Mon., May. 21, 2012
Regency Energy Partners will expand its Edwards Lime gathering system in the Eagle Ford Shale.

ROUNDUP: Also Noted:

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Natural Gas Week
Mon., May. 21, 2012
Bureau of Land Management Director Robert Abbey will retire at the end of May.

Gas Needed to Replace Offline Nuclear Capacity

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NGW's Gas Market Reconnaissance
Mon., May. 21, 2012
Nuclear Regulatory Commission's daily power reactor status.

Today's Short-Term Weather Forecast

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NGW's Gas Market Reconnaissance
Mon., May. 21, 2012
Weather forecast from the NOAA.

Spot Cash Electricity Prices

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NGW's Gas Market Reconnaissance
Mon., May. 21, 2012
Change in spot power price is from previous day.

Natural Gas/Power Spark Spreads

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NGW's Gas Market Reconnaissance
Mon., May. 21, 2012
Cost of using gas turbines of various heat efficiencies.

Contact Us

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NGW's Gas Market Reconnaissance
Mon., May. 21, 2012
Contact our senior staff to discuss market conditions.

Degree Days

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NGW's Gas Market Reconnaissance
Mon., May. 21, 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
Mon., May. 21, 2012
June natural gas futures fell almost 5% to the low $2.60s Monday taking back most of Friday’s 5.8% gain. Profit-taking in the wake of last week's rally was credited for the drop.

Briefly Noted

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NGW's Gas Market Reconnaissance
Mon., May. 21, 2012
Summary of the day's energy news.

Natural Gas Spot Prices

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NGW's Gas Market Reconnaissance
Mon., May. 21, 2012
Gas deals done for next-day flow or weekend delivery.

Prompt-Month Gas Forwards

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NGW's Gas Market Reconnaissance
Mon., May. 21, 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. 21, 2012
Results of Nymex trading for Henry Hub gas futures contracts.

Fuel Competition

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NGW's Gas Market Reconnaissance
Mon., May. 21, 2012
Spreads between volume-weighted gas prices and competing fuels.

Brent Futures Show Signs of Stabilization On Euro Hopes

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International Oil Daily
Mon., May. 21, 2012
After a week in which Brent crude futures lost slightly more than $5 amid anxiety about the eurozone debt crisis and the future of the euro, the July contract showed signs of stabilization on Friday.

Grupo Petersen's YPF Shares Could Be Seized

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International Oil Daily
Mon., May. 21, 2012
Argentina’s Grupo Petersen, which holds a 25.5% stake in YPF, has defaulted on loans totaling $400 million, which could result in a syndicate of banks taking all of the company’s YPF shares in lieu.

Repsol Misses With First Cuba Well

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International Oil Daily
Mon., May. 21, 2012
Repsol said Friday that the first of three planned wells in Cuban waters was unsuccessful, a blow to Cuba's hopes for energy independence.

Repsol Cancels All LNG Sales to Argentina

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International Oil Daily
Mon., May. 21, 2012
Spain’s Repsol has canceled all LNG sales to Argentina after the government there expropriated most of the firm’s stake in YPF, Argentina’s largest oil and gas producer, earlier this month.

CFTC to Ease Trading Regulation

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International Oil Daily
Mon., May. 21, 2012
The Commodity Futures Trading Commission (CFTC) is set to make it easier for traders to avoid triggering curbs aimed at reining in speculation in commodities markets, according to two people briefed on the matter.

Barclays: E&P Capex on the Rise

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International Oil Daily
Mon., May. 21, 2012
Barclays Capital is now projecting that global exploration and production spending will hit a record $614 billion in 2012, up from an original forecast of $598 billion that it released in December. The revised projection represents an increase of 10.5% over actual 2011 spending of $556 billion.

Regulators Have More to Achieve After MF Global Collapse

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International Oil Daily
Mon., May. 21, 2012
The collapse of derivatives broker MF Global late last year continues to reverberate throughout the industry, and although progress has been made to strengthen customer protections, the industry and regulators still have a ways to go.

Daily Oil and Gas Price Review May 18, 2012

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International Oil Daily
Mon., May. 21, 2012
Overview of domestic and international spot and futures prices for crude oil, refined petroleum products and natural gas.

Latest Market Trends May 18, 2012

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International Oil Daily
Mon., May. 21, 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 18, 2012

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International Oil Daily
Mon., May. 21, 2012
Stock price movements for leading companies in various subsectors of the oil and gas industry.

Energy Intelligence Launches New Energy

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International Oil Daily
Mon., May. 21, 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.

Turkey Steps Up Cyprus Gas Spat

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International Oil Daily
Mon., May. 21, 2012
Turkey said on Friday that companies bidding to develop Cyprus' offshore gas fields would be shut out of Turkish energy projects, amid a spat between the rivals about who has rights to potentially vast reserves in the East Mediterranean.

China Pushes Electric Vehicles, Fuel Economy to Curb Oil Dependence

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International Oil Daily
Mon., May. 21, 2012
While US efforts to improve vehicle efficiency attract most attention, China -- now the world's largest automobile market -- is also forging ahead quietly with its own efforts to control the environmental impact of explosive car ownership growth. Beijing is adopting a multipronged approach that aims not just to limit fossil fuel use and curb emissions, but also to remodel its auto industry and potentially take a lead in the frontier territory of electric vehicles.

AIM Firms Vulnerable to Takeover

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International Oil Daily
Mon., May. 21, 2012
Oil and gas companies listed on London's Alternative Investment Market (AIM) are becoming increasingly vulnerable to takeover due to their desperate need for investment capital, Ernst & Young has said in a new report.

Socar Teams With Petrovietnam at Azeri Fields

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International Oil Daily
Mon., May. 21, 2012
Azerbaijan's state Socar said Friday it signed a preliminary agreement with Vietnamese counterpart Petrovietnam to further explore an onshore Azeri oil block with total estimated recoverable reserves of around 15 million tons.

TNK-BP Won't Give Up on Ukraine

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International Oil Daily
Mon., May. 21, 2012
TNK-BP is prepared to compete for future Ukraine tenders to explore for shale gas despite its recent unsuccessful bid and complaints about transparency.

Bulgaria Wins Gazprom Discount

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International Oil Daily
Mon., May. 21, 2012
Bulgaria’s Ministry of Economy, Energy and Tourism has confirmed that Russia’s Gazprom is to offer the country -- a likely transit state for the planned 63 Bcm/yr South Stream gas pipeline to Europe -- an 11.1% discount on the price it pays for Russian gas, taking effect from Apr. 1. The deal sounds political in nature, with Moscow’s oil and gas analyst community viewing it as somewhat negative for sentiment in Gazprom itself.

Heritage Targets Turkey for Its Kurdish Gas

headlines@energyintel.com

International Oil Daily
Mon., May. 21, 2012
The UK’s Heritage Oil said Friday that it is considering natural gas exports to Turkey for production from its Miran field development in Iraq's Kurdistan region, even though there is still no clear legal path for gas exports direct to Turkey amid political tensions between the Kurdistan Regional Government (KRG) and the Iraqi central government in Baghdad.

Japan Questions US Court on Iran

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International Oil Daily
Mon., May. 21, 2012
Japan’s industry minister has questioned a US court order freezing Iranian transactions at a Japanese bank that handles most of the country’s payments for crude oil imports from Iran.

Chevron Positioned Well in Post-Sanctions Myanmar

headlines@energyintel.com

International Oil Daily
Mon., May. 21, 2012
The US made a U-turn last week when it suspended sanctions on Myanmar (Burma), opening the door for American oil and gas companies to invest in the gas-rich Southeast Asian country barely more than a month after saying that it would launch a progressive and targeted easing of sanctions that was expected to keep the energy sector out of reach for US investors.

No Mandatory Power Cuts for Japan

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International Oil Daily
Mon., May. 21, 2012
The Japanese government Friday urged power savings this coming summer, but did not issue a mandatory power-reduction order after facing strong opposition from industry groups.

KNOC Still Keen on Ulsan Storage Hub

headlines@energyintel.com

International Oil Daily
Mon., May. 21, 2012
Korea National Oil Corp. (KNOC) will pursue its Ulsan oil storage hub project despite facing setbacks earlier at a similar project at Yeosu. The state firm now plans to proceed with the Ulsan project in two phases -- first building products storage and then crude storage instead of investing in both at the same time.

Rail Restrictions Induce Russian Run Cuts

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International Oil Daily
Mon., May. 21, 2012
Russia may face domestic fuel shortages after authorities restricted the transport of crude oil by rail, pressing some of the country's major refiners to decrease their crude processing, according to statements by the plants' owners last week.

Repsol Cancels Argentine LNG Shipments

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LNG Intelligence
Mon., May. 21, 2012
Ten shipments cancelled for 2012.

Alberta Premier to Visit China

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LNG Intelligence
Mon., May. 21, 2012
Premier follows a parade of Canadian officials heading west.

El Paso Plans LNG Exports

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LNG Intelligence
Mon., May. 21, 2012
Natural gas producer and pipeline operator El Paso has joined the US LNG export derby.

Turkey Steps Up Cyprus Gas Spat

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LNG Intelligence
Mon., May. 21, 2012
Companies bidding to develop Cyprus' offshore gas fields would be shut out of Turkey.

No Mandatory Power Cuts For Japan

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LNG Intelligence
Mon., May. 21, 2012
Strong opposition from industry groups held off mandate.

US LNG Exports Likely, One Way or Another

headlines@energyintel.com

LNG Intelligence
Mon., May. 21, 2012
President Obama's administration is under pressure to make a decision.

Asian Spot Market Pull from Europe the New Normal

headlines@energyintel.com

LNG Intelligence
Mon., May. 21, 2012
Atlantic Basin spot LNG sellers seem to be looking nowhere but East these days.

Bentek Energy's Gas Metrics US LNG Imports

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LNG Intelligence
Mon., May. 21, 2012
Bentek Energy's Gas Metrics US LNG Imports

LNG Market Indicators

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LNG Intelligence
Mon., May. 21, 2012
LNG Market Indicators for May 21 2012

LNG Netbacks at Key Receiving Terminals

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LNG Intelligence
Mon., May. 21, 2012
LNG Netbacks at Key Receiving Terminals for May 21 2012

G'Day

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LNG Intelligence
Mon., May. 21, 2012
There was a picture with the PM, and a rally across the sea.

MOZAMBIQUE

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Energy Compass
Fri., May. 18, 2012
Gas discoveries keep piling in, adding momentum to emerging plans for major LNG developments.

Marketplace: And the Bears Have It -- For Now

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Energy Compass
Fri., May. 18, 2012
Oil prices are being pummeled by a shower of bearish developments that could herald further weakness through June and July before a seasonal demand recovery finally lends renewed support. But a short-covering rally may well come first, as soon as next week in fact, as oil and other markets appear to be moving into oversold territory.

Scant Common Ground

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Energy Compass
Fri., May. 18, 2012
Ahead of a critical May 23 meeting in Baghdad with the five permanent UN Security Council members plus Germany (P5+1), Iran this week at talks in Vienna rejected an International Atomic Energy Agency request for more inspections of suspected nuclear sites. Energy Compass estimates global imports from Iran are already down to 1.9 million b/d this month, 600,000 b/d below last year's average.

Nigeria: Term Crude Contracts Face Product-Style Problems

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Energy Compass
Fri., May. 18, 2012
Signs are that Nigeria’s crude export business is getting bogged down under patronage demands and political dithering, too -- even as President Goodluck Jonathan’s government grapples with the aftermath of massive abuse of subsidies on imported oil products. Traders predict that resulting delays in awarding term crude contracts for 2012-13 could stretch out for months.

Crude Oil, Netbacks and Products (Market Indicators)

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Energy Compass
Fri., May. 18, 2012
Crude oil, netbacks and products prices.

Ukraine: Some New Friends, Even More Fights

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Energy Compass
Fri., May. 18, 2012
Royal Dutch Shell and Chevron's rush into Ukraine's shale gas patch comes at a time of general optimism in the country's oil and gas sector. But politically, Ukraine is becoming more and more isolated, as the health of jailed former Prime Minister Yulia Tymoshenko takes center stage in the diplomatic arena. The risk for investors, especially European ones, is very real.

UAE

headlines@energyintel.com

Energy Compass
Fri., May. 18, 2012
Despite bleak prospects for increasing its gas exports, the UAE this week joined the Gas Exporting Countries Forum (GECF), becoming the latest gas producer to sign up to the loosely affiliated gas talk shop.

LNG

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Energy Compass
Fri., May. 18, 2012
Russia's Sakhalin-2 LNG project, which produced 10.67 million tons of LNG in 2011, above nameplate capacity, plans to conduct a preliminary feasibility study on a third train, for expected completion late this year.

INDIA

headlines@energyintel.com

Energy Compass
Fri., May. 18, 2012
Under pressure from the US to cut its Iranian oil imports, New Delhi said the country aims to buy 11% less crude from Iran in the fiscal year that began Apr. 1.

Pressure Points

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Energy Compass
Fri., May. 18, 2012
The latest inventory report from the US Department of Energy shows a 2.1 million bbl build in crude oil stocks in the week to May 11, to 381.6 million bbl. Gasoline inventories fell by 2.8 million bbl to 204.3 million bbl, while distillate stocks -- heating oil and diesel -- were down 1 million bbl to 119.8 million bbl.

QATAR

headlines@energyintel.com

Energy Compass
Fri., May. 18, 2012
The government has asked Total and Exxon Mobil to help stem declines at its three wholly owned oil fields, but the only active plan would see output from the offshore Bul Hanine field increase by roughly 50,000 b/d, from 48,000 b/d to 95,000 b/d, after 2017.

AUSTRALIA

headlines@energyintel.com

Energy Compass
Fri., May. 18, 2012
Expansion of coalbed methane (CBM)-to-LNG plants currently under construction in Queensland may have to wait given growing public opposition to rapid CBM development.

Market Forces: US Gas Market Goes into Reverse, Where Next?

headlines@energyintel.com

Energy Compass
Fri., May. 18, 2012
Anyone betting on US natural gas prices remaining below $2/MMBtu less than a month ago when the Nymex front-month price hit $1.907, the lowest in more than a decade, would have been wrong -- as gamblers in this fickle market usually are. Overt market signals suggested prices would remain depressed. Yet in a matter of weeks, prices are up more than 35%, closing Tuesday at $2.61 -- although fundamentals are largely unchanged. Some are now forecasting a quick leap to $4.

Turkey: Edging Closer to Iraqi Kurds, But How Close? How Fast?

headlines@energyintel.com

Energy Compass
Fri., May. 18, 2012
Expectations that Turkey may open itself up as an export route for oil and gas from Iraq’s Kurdistan region are rising ahead of a conference early next week in Erbil, which promises to host both Turkish Energy Minister Taner Yildiz and the head of Turkey’s energy regulatory authority, Hasan Koktas. But just how bold a line Ankara will take remains to be seen.

Saudi Arabia: Where All That New Production Is Going

headlines@energyintel.com

Energy Compass
Fri., May. 18, 2012
With European and Asian customers both cutting back on Iranian oil purchases, the easy assumption has been that Saudi Arabia -- the only Opec country with notable spare capacity -- was making up the difference. However, the data show a more complicated reality.

LNG: Asian Spot Market Pull from Europe the New Normal

headlines@energyintel.com

Energy Compass
Fri., May. 18, 2012
Atlantic Basin spot LNG sellers seem to be looking nowhere but East these days -- a condition that may soon become chronic and spread in its wake some of the same gas price uncertainty now evident in European markets. Behind it all is robust Asian LNG demand since closure of Japan's nuclear plants and plummeting European gas use. Ahead, if such flows persist, could be major changes in term-gas pricing in Asia.

FUNDAMENTALS

headlines@energyintel.com

Energy Compass
Fri., May. 18, 2012
Geopolitical risk should keep crude oil prices high this year despite relatively weak fundamentals, the International Energy Agency (IEA) says in its latest monthly market report.

United States: LNG Exports Likely, One Way or Another

headlines@energyintel.com

Energy Compass
Fri., May. 18, 2012
US President Barack Obama's administration is under pressure, both at home and abroad, to either approve or sharply and definitively restrict plans to export a significant chunk of domestic natural gas as LNG. But the uncertainty underlying such pressure may be exaggerated. In fact, gas producers and LNG terminal owners are likely to gain eventual approval for substantial exports, if not from the Obama team then through litigation or a future administration.

US Suspends Myanmar Sanctions

headlines@energyintel.com

Oil Daily
Fri., May. 18, 2012
The US on Thursday suspended sanctions barring US investment in Myanmar in response to political reforms in the poor southeast Asian state, drawing praise from some US lawmakers but criticism from human rights advocates.

Cairn Submits Cyprus Bid

headlines@energyintel.com

Oil Daily
Fri., May. 18, 2012
UK-listed Cairn Energy revealed Thursday that it submitted a bid this week for offshore acreage on offer in Cyprus in a consortium with US independent Marathon Oil and the exploration arm of Athens-based contractor CCC. Awards are expected later this year.

Husky Starts Capturing CO2

headlines@energyintel.com

Oil Daily
Fri., May. 18, 2012
Husky Energy said on Thursday it has begun operating a carbon-capture and storage facility at an ethanol manufacturing plant at Lloydminster, Saskatchewan, and will use the gas to boost output from its heavy oil fields in the region.

Latest Market Trends May 17, 2012

headlines@energyintel.com

Oil Daily
Fri., May. 18, 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 17, 2012

headlines@energyintel.com

Oil Daily
Fri., May. 18, 2012
Stock price movements for leading companies in various subsectors of the oil and gas industry.

Daily Oil and Gas Price Review May 17, 2012

headlines@energyintel.com

Oil Daily
Fri., May. 18, 2012
Overview of domestic and international spot and futures prices for crude oil, refined petroleum products and natural gas.

Brent Sinks to Lowest Close This Year on Eurozone Pessimism

headlines@energyintel.com

Oil Daily
Fri., May. 18, 2012
Brent crude futures tumbled to their lowest close of the year on Thursday as concerns about Europe's common currency, the euro, continue to plague the market.

US Senate Expected to Revisit Additional Sanctions Against Iran

headlines@energyintel.com

Oil Daily
Fri., May. 18, 2012
The US Senate rejected legislation on Thursday that would have imposed further sanctions on Iran, specifically targeting the National Iranian Oil Company (Nioc) and the country’s oil tanker company.

Energy Intelligence Launches New Energy

headlines@energyintel.com

Oil Daily
Fri., May. 18, 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.

PetroChina Hopes to Run Parent Company's Crude at Aruba Refinery

headlines@energyintel.com

Oil Daily
Fri., May. 18, 2012
PetroChina's interest in Valero's shuttered Aruba refinery is predicated on its desire to process equity crude from parent company China National Petroleum Corp.'s expanding overseas upstream operations at the plant and sell the oil products into global oil markets, a Beijing-based industry official told Oil Daily.

Canada Plans Huge Auction of Exploration Rights in Arctic Waters

headlines@energyintel.com

Oil Daily
Fri., May. 18, 2012
Offshore oil and gas exploration rights in a huge swath of the Canadian Arctic are set to be auctioned off as part of the federal government's quest to turn the country into an "energy superpower."

Gazprom Ups Exploration Spending

headlines@energyintel.com

Oil Daily
Fri., May. 18, 2012
Russia's Gazprom intends to allocate a total 61.4 billion rubles ($1.98 billion) to geological exploration domestically and abroad this year, compared with 51.3 billion spent in 2011, the company said Thursday in its in-house magazine.

Petrobras Accentuates the Positive Despite Problems

headlines@energyintel.com

Oil Daily
Fri., May. 18, 2012
Brazil's state-controlled Petrobras put a positive spin on its most recent quarterly results during a Thursday conference call with analysts, despite a substantial decline in year-on-year net income and a worrisome delay in issuance of the company’s updated business plan.

Three More US Liquefied Natural Gas Export Applications Filed

headlines@energyintel.com

Oil Daily
Fri., May. 18, 2012
As US natural gas producers bemoan a domestic natural gas surplus that has weighed heavily on prices, the US Department of Energy is seeing a growing list of applications to export some of that gas in the form of LNG.

Atlas Buys More Barnett Assets

headlines@energyintel.com

Oil Daily
Fri., May. 18, 2012
Atlas Resource Partners said it has acquired 16,000 net acres in the Barnett Shale from privately-held Titan Operating for $184 million. These assets come with 250 Bcfe of proved reserves and 700 Bcfe of proved, probable and possible reserves.

Imperial May Sell Refinery

headlines@energyintel.com

Oil Daily
Fri., May. 18, 2012
Imperial Oil put its money-losing Nova Scotia oil refinery on the auction block on Thursday, adding to a list of plants on both sides of the Atlantic that face sale or closure due to pricey crude and falling gasoline demand.

Enbridge Unveils Another Big Pipeline Expansion Plan

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Oil Daily
Fri., May. 18, 2012
Canadian pipeline giant Enbridge is pushing ahead with an ambitious C$3.2 billion (US$3.15 billion) expansion plan that, among other things, would allow it to transport additional volumes of North American crude oil to refineries in eastern Canada and the eastern US.

Gas in Storage Rises by 61 Bcf

headlines@energyintel.com

Oil Daily
Fri., May. 18, 2012
Stocks of working natural gas in US storage facilities rose by 61 Bcf in the week ended May 11, taking storage levels to 2,667 Bcf, according to the Energy Information Administration.

Cyber Security Expert Says Hackers Target US Gas Pipelines

headlines@energyintel.com

Oil Daily
Fri., May. 18, 2012
Several of the nation's natural gas pipeline companies have been targeted in a coordinated program of cyber-attacks on their computer systems that began in December.

Contact Us

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Fri., May. 18, 2012
Contact our senior staff to discuss market conditions.

Degree Days

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Fri., May. 18, 2012
Sum of temperature variances above and below 65 degrees for six key cities.

Today's Short-Term Weather Forecast

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NGW's Gas Market Reconnaissance
Fri., May. 18, 2012
Weather forecast from the NOAA.

Gas Needed to Replace Offline Nuclear Capacity

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Fri., May. 18, 2012
Nuclear Regulatory Commission's daily power reactor status.

Natural Gas/Power Spark Spreads

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Fri., May. 18, 2012
Cost of using gas turbines of various heat efficiencies.

Spot Cash Electricity Prices

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Fri., May. 18, 2012
Change in spot power price is from previous day.

Fuel Competition

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Fri., May. 18, 2012
Spreads between volume-weighted gas prices and competing fuels.

Briefly Noted

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Fri., May. 18, 2012
Summary of the day's energy news.

Natural Gas Futures Contracts

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Fri., May. 18, 2012
Results of Nymex trading for Henry Hub gas futures contracts.

Prompt-Month Gas Forwards

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Fri., May. 18, 2012
Gas deals settled against the expiration price for that month.

Natural Gas Spot Prices

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Fri., May. 18, 2012
Gas deals done for next-day flow or weekend delivery.

Market Watch

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Fri., May. 18, 2012
June gas futures left Thursday's losses in the dust Friday, jumping 5.7% to end the week in the $2.70s.

US Suspends Myanmar Sanctions

headlines@energyintel.com

International Oil Daily
Fri., May. 18, 2012
The United States on Thursday suspended sanctions barring US investment in Myanmar in response to political reforms in the poor southeast Asian state, drawing praise from some US lawmakers but criticism from human rights advocates.

Eurozone Pessimism Drops Brent to 2012 Low

headlines@energyintel.com

International Oil Daily
Fri., May. 18, 2012
Brent crude futures tumbled to their lowest close of the year on Thursday as concerns about Europe's common currency, the euro, continue to plague the market.

US Senate Expected to Revisit Iran Sanctions

headlines@energyintel.com

International Oil Daily
Fri., May. 18, 2012
The US Senate rejected legislation on Thursday that would have imposed further sanctions on Iran, specifically targeting the National Iranian Oil Company (Nioc) and the country’s oil tanker company.

Three More Apply to Export US LNG

headlines@energyintel.com

International Oil Daily
Fri., May. 18, 2012
As US natural gas producers bemoan a domestic natural gas surplus that has weighed heavily on prices, the US Department of Energy is seeing a growing list of applications to export some of that gas in the form of LNG.

Petrobras Spins Positive Despite Concerns

headlines@energyintel.com

International Oil Daily
Fri., May. 18, 2012
Brazil's state-controlled Petrobras put a positive spin on its most recent quarterly results during a Thursday conference call with analysts, despite a substantial decline in year-on-year net income and a worrisome delay in issuance of the company’s updated business plan.

Daily Oil and Gas Price Review May 17, 2012

headlines@energyintel.com

International Oil Daily
Fri., May. 18, 2012
Overview of domestic and international spot and futures prices for crude oil, refined petroleum products and natural gas.

Latest Market Trends May 17, 2012

headlines@energyintel.com

International Oil Daily
Fri., May. 18, 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 17, 2012

headlines@energyintel.com

International Oil Daily
Fri., May. 18, 2012
Stock price movements for leading companies in various subsectors of the oil and gas industry.

Energy Intelligence Launches New Energy

headlines@energyintel.com

International Oil Daily
Fri., May. 18, 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.

India Decides to Go Ahead With Tapi Pipeline

headlines@energyintel.com

International Oil Daily
Fri., May. 18, 2012
India on Thursday said it would purchase natural gas from Turkmenistan through the long discussed Turkmenistan-Afghanistan-Pakistan-India (Tapi) gas pipeline, a project with strong US backing.

Cairn Submits Cyprus Bid, Advances North Sea Work

headlines@energyintel.com

International Oil Daily
Fri., May. 18, 2012
UK-listed Cairn Energy revealed Thursday that it submitted a bid this week for offshore acreage on offer in Cyprus in a consortium with US independent Marathon Oil and the exploration arm of Athens-based contractor CCC. Awards are expected later this year.

Rescue Shaping Up for UK's Coryton Refinery

headlines@energyintel.com

International Oil Daily
Fri., May. 18, 2012
A deal to buy out the Coryton refinery in the southeastern UK from bankrupt pan-European merchant refiner Petroplus seems to be at hand, with the European parliament member for the area telling International Oil Daily he had spoken on Thursday morning with a bidder looking to finalize a rescue soon.

Gazprom Neft Hires Halliburton in Iraq

headlines@energyintel.com

International Oil Daily
Fri., May. 18, 2012
Russia's Gazprom Neft, the oil arm of state gas giant Gazprom, said Thursday it had chosen US oil-field service company Halliburton to test 11 wells at its Badra field in Iraq under a three-year, $95 million contract.

More Pay at Somalia Well

headlines@energyintel.com

International Oil Daily
Fri., May. 18, 2012
Canadian minnow Africa Oil said Tuesday that the Shabeel-1 well in the Puntland area of Somalia that is being drilled by its 51%-owned subsidiary Horn Petroleum has hit an additional pay zone of up to 3 meters.

China Sales Boost Transneft Profits

headlines@energyintel.com

International Oil Daily
Fri., May. 18, 2012
State-controlled Russian oil pipeline monopoly Transneft said Thursday that net profit grew by 59% in 2011 thanks to the start of crude oil shipments to China via a spur from the East Siberia-Pacific Ocean pipeline in January last year.

Masdar Sees Commercial Start to Shams Power by Year-End

headlines@energyintel.com

International Oil Daily
Fri., May. 18, 2012
Abu Dhabi state Masdar expects to start generating power from its first concentrated solar power project Shams-1 this summer, the general manager of Shams Power Co. Yousif al-Ali said at a conference Thursday in Abu Dhabi.

Canadians Seek South Africa Partner

headlines@energyintel.com

International Oil Daily
Fri., May. 18, 2012
Calgary-based Canadian Natural Resources is looking for a partner to help explore two blocks off the coast of South Africa, a relatively unprecedented move for a company that generally prefers to work alone.

Bashneft Fires Managers Over Spill

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International Oil Daily
Fri., May. 18, 2012
Two senior executives have been fired from Russian regional independent oil producer Bashneft after the April spill at its Trebs oil field.

Gazprom Ups Exploration Spending

headlines@energyintel.com

International Oil Daily
Fri., May. 18, 2012
Russia's Gazprom intends to allocate a total 61.4 billion rubles ($1.98 billion) to geological exploration domestically and abroad this year, compared with 51.3 billion spent in 2011, the company said Thursday in its in-house magazine.

Singapore Product Stocks Fall

headlines@energyintel.com

International Oil Daily
Fri., May. 18, 2012
Singapore’s onshore oil product inventories fell, while light distillate stocks tumbled to their lowest level in almost seven months in the week ending May 16, according to figures released by trade group IESingapore. Total product stocks fell by 1.03 million bbl to settle at 39.06 million bbl – a drop of 2.6% from the previous week.

Market Eye: Looming End of Turnarounds Hits Asian Products

headlines@energyintel.com

International Oil Daily
Fri., May. 18, 2012
Asia-Pacific light distillate markets plumbed new depths, while in a rare move gasoline cracks broke away from US gasoline markets this week. Asian light distillate cracks have been hurt by expectations that refineries will return from turnarounds in June, while gasoline cracks have also been pummeled by dismal naphtha cracks and the weak European gasoline market.

Japan Braces for Power Savings

headlines@energyintel.com

International Oil Daily
Fri., May. 18, 2012
Japan is bracing for power conservation measures this summer as all the country’s nuclear reactors remain closed with no clear indication of when they will restart. Businesses and individuals will be required to reduce power usage according to targets set by power utilities from July to September, according to a final draft of measures the government is expected to implement.

Roc Gets Loan for Malaysia Project

headlines@energyintel.com

International Oil Daily
Fri., May. 18, 2012
Australian minnow Roc Oil and partners have secured $162 million in project finance for the pre-development phase of the Balai Cluster risk-service contract (RSC) in Malaysia undertaken at the start of 2012.

PetroChina Eyes Aruba to Refine Overseas Output

headlines@energyintel.com

International Oil Daily
Fri., May. 18, 2012
PetroChina's interest in Valero's shuttered Aruba refinery is predicated on its desire to process equity crude from parent company China National Petroleum Corp.'s expanding overseas upstream operations at the plant and selling oil products into global oil markets, a Beijing-based industry official told International Oil Daily.

Market Points

headlines@energyintel.com

Nuclear Intelligence Weekly
Fri., May. 18, 2012
The U3O8 spot price fell 12¢ to $51.88 this week, its largest drop in four weeks.

Spot Price Drops as Usec Survives

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Nuclear Intelligence Weekly
Fri., May. 18, 2012
The U3O8 spot price fell 12¢ to $51.88 per pound U3O8 this week. It was the first drop in four weeks reported by NIW's Uranium Price Panel and the largest since the slide from $51.23/lb U3O8 to $51/lb on Mar. 22.

Energy Intelligence Uranium Market Update

headlines@energyintel.com

Nuclear Intelligence Weekly
Fri., May. 18, 2012
A roundup of uranium prices and other market data.

JAPAN

headlines@energyintel.com

Nuclear Intelligence Weekly
Fri., May. 18, 2012
The town assembly of Ohi has agreed to restarting Kansai Electric's Units 3 and 4 of its Ohi nuclear power plant, in the Fukui prefecture. Their decision will be submitted to the mayor, and then to the governor of Fukui.

CHINA

headlines@energyintel.com

Nuclear Intelligence Weekly
Fri., May. 18, 2012
China may restart approvals of new nuclear projects as soon as the end of June, when the State Council (or cabinet) is likely to revisit the safety plans submitted to it by the environment ministry in December, Bloomberg quoted China Nuclear Energy Association official Xu Yuming telling a Beijing conference.

UNITED STATES

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Nuclear Intelligence Weekly
Fri., May. 18, 2012
Georgia Power's Vogtle Plant may see an increase in building costs of $900 million for its two new Westinghouse AP1000 reactors.

NORTH KOREA

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Nuclear Intelligence Weekly
Fri., May. 18, 2012
According to the latest satellite imagery, North Korea is only a year or two away from completion of an experimental light-water reactor at its Yongbyon nuclear site, a Johns Hopkins-affiliated website called 38north.org revealed in a May 16 report

MALAWI

headlines@energyintel.com

Nuclear Intelligence Weekly
Fri., May. 18, 2012
Paladin Energy ended a five-day strike that began May 11 at its Kayelekera mine on the southeast coast of Malawi, which brought production to a halt.

AUSTRALIA

headlines@energyintel.com

Nuclear Intelligence Weekly
Fri., May. 18, 2012
A Mitsubishi subsidiary, Mitsubishi Development Pty, will fund all of the uranium exploration efforts of Areva subsidiary Afmeco Mining and Exploration in Australia under an agreement announced last week

SAUDI ARABIA

headlines@energyintel.com

Nuclear Intelligence Weekly
Fri., May. 18, 2012
Saudi Oil Minister Ali Naimi's failure this week to mention nuclear power as one of the components of Saudi Arabia's future energy supply mix bodes poorly for nuclear vendors eager for a substantial Saudi market.

Conversion: Mysterious Shutdown at Metropolis UF6 Plant

headlines@energyintel.com

Nuclear Intelligence Weekly
Fri., May. 18, 2012
Honeywell International's fraught relations with its employees at the long-troubled Converdyn conversion plant in Metropolis, Illinois, took a turn for the worst last week when unionized employees were sent home after plant equipment was damaged under mysterious circumstances -- sabotage was suspected but not confirmed by either the company or workers. The shutdown occurred only three days ahead of an annual maintenance outage.

Enrichment: DOE Funds Paducah

headlines@energyintel.com

Nuclear Intelligence Weekly
Fri., May. 18, 2012
With the May 15 announcement that the US Department of Energy (DOE) has completed a deal to keep the Paducah, Kentucky, gaseous diffusion plant open, Usec got half of the federal support it wants by the end of the month. The deal, rich in complexities, gives Energy Northwest the equivalent of up to 9,156 metric tons uranium (mtU) in depleted uranium tails that it can then pay Usec to enrich to the equivalent of 482 mtU of low enriched uranium.

Japan: Tepco Chairman on the Hot Seat

headlines@energyintel.com

Nuclear Intelligence Weekly
Fri., May. 18, 2012
The outgoing chairman of the Tokyo Electric Power Co (Tepco), Tsunehisa Katsumata, testifying before the Fukushima Nuclear Accident Independent Investigation Commission this week, portrayed himself as almost intentionally passive in the face of his company's worst disaster. He did not participate in many crucial decisions, including those over venting the Fukushima reactors and injecting salt water into them, and denied allegations that Tepco was planning a total retreat from the plant site.

Cameco Buys a Trader

headlines@energyintel.com

Nuclear Intelligence Weekly
Fri., May. 18, 2012
The biggest question within the uranium industry after this week's announcement of Cameco Corp.'s intended €105 million ($136 million) purchase of Nukem Energy GmbH is whether Nukem will really survive as one of the major players in the uranium market.

Uranium: Athabasca's Opportunities for Acquisitive Uranium Companies

headlines@energyintel.com

Nuclear Intelligence Weekly
Fri., May. 18, 2012
Despite Cameco's recent acquisition of Nukem, the Athabasca Basin remains the area of most speculation about uranium industry acquisitions, and for good reason. On paper at least three companies -- UEX, Fission Energy and Denison Mines -- have holdings that look quite attractive, particularly to major producers Cameco and Rio Tinto, which have interests in the area.

Corporate: Nukem's Future Under Cameco

headlines@energyintel.com

Nuclear Intelligence Weekly
Fri., May. 18, 2012
The biggest question within the uranium industry after this week's announcement of Cameco Corp.'s intended €105 million ($136 million) purchase of Nukem Energy GmbH from Advent International is whether Nukem will really survive as one of the major players in the uranium market.

France: Hollande Victory Impacts Nuclear Policy

headlines@energyintel.com

Nuclear Intelligence Weekly
Fri., May. 18, 2012
Following the defeat of pro-nuclear French President Nicholas Sarkozy in May 6 elections to socialist Francois Hollande, France looks set to reduce its reliance on nuclear power, albeit possibly not as markedly as planned under a pre-election pact with the French Greens, whose candidate Eva Joly failed to garner much support from the French electorate.

GasAtacama to Invest in Regas Terminal

headlines@energyintel.com

LNG Intelligence
Fri., May. 18, 2012
The source of the LNG could be the US.

India Decides to Go Ahead With Tapi Pipeline

headlines@energyintel.com

LNG Intelligence
Fri., May. 18, 2012
Afghanistan and Pakistan have committed to the safety and security of the line.

Nippon Yusen Eyes Longer Ship Life

headlines@energyintel.com

LNG Intelligence
Fri., May. 18, 2012
LNG carriers will now be expected to serve 20 years instead of just 13.

Exxon Says Asia-Pacific to Account For Third of Global Gas Demand

headlines@energyintel.com

LNG Intelligence
Fri., May. 18, 2012
Exxon exec outlines Asian gas picture.

Qatar Eyes Bulgaria Investment

headlines@energyintel.com

LNG Intelligence
Fri., May. 18, 2012
Qatari Prime Minister Al-Thani makes a visit.

More US LNG Projects File For Exports

headlines@energyintel.com

LNG Intelligence
Fri., May. 18, 2012
The US Department of Energy is seeing the list of LNG export applications grow.

Japan Braces for Power Savings

headlines@energyintel.com

LNG Intelligence
Fri., May. 18, 2012
Businesses and individuals will be required to reduce power usage according to targets.

China Widens Shale Auction

headlines@energyintel.com

LNG Intelligence
Fri., May. 18, 2012
China's shale gas auction to include domestic private companies.

Gas Dispute Moving to New Heights?

headlines@energyintel.com

LNG Intelligence
Fri., May. 18, 2012
Turkey has accused Israel of violating north Cyprus airspace.

Western Australia to Create Wealth Fund

headlines@energyintel.com

LNG Intelligence
Fri., May. 18, 2012
WA plans to channel 1% of its mineral wealth each year into the fund.

India's Gas Shortage Hurts Power Projects

headlines@energyintel.com

LNG Intelligence
Fri., May. 18, 2012
Faltering production at KG-D6 is having an effect downstream.

Tax Hikes Accelerate Novatek's Export Push

headlines@energyintel.com

LNG Intelligence
Fri., May. 18, 2012
Russia's top independent gas producer may alter LNG export plans.

LNG Market Indicators

headlines@energyintel.com

LNG Intelligence
Fri., May. 18, 2012
LNG Market Indicators for May 18 2012

LNG Netbacks at Key Receiving Terminals

headlines@energyintel.com

LNG Intelligence
Fri., May. 18, 2012
LNG Netbacks at Key Receiving Terminals for May 18 2012

Multiple Ceilings

headlines@energyintel.com

LNG Intelligence
Fri., May. 18, 2012
There is precious little headroom for US gas prices.

Crude Oil: Prices Slide as Fundamentals Weaken

headlines@energyintel.com

Nefte Compass
Thu., May. 17, 2012
The sell-off in crude oil futures continued for the second week running.

Statoil to Offer Norwegian Shelf to Rosneft

headlines@energyintel.com

Nefte Compass
Thu., May. 17, 2012
Statoil says there is no deadline for determining which assets to offer Rosneft in exchange for Russian Arctic deal.

Tighter Markets Foster Hopes of Recovery

headlines@energyintel.com

Nefte Compass
Thu., May. 17, 2012
Both gasoil and fuel oil are seeing tighter markets, and gasoil at least can nurse hopes of a recovery.

Sechin Tipped to Retain Power Over Russian Energy

headlines@energyintel.com

Nefte Compass
Thu., May. 17, 2012
Sergei Bogdanchikov, the former president of Rosneft, could take over at Gazprom, as reshuffles get under way.

Kashagan Venture Shrugs Off Threat From Eni Probe

headlines@energyintel.com

Nefte Compass
Thu., May. 17, 2012
A Kazakh official said corruption claims against Eni are "pure Italian business" and will not affect the Kashagan field.

Tax Hikes Accelerate Novatek's Export Push

headlines@energyintel.com

Nefte Compass
Thu., May. 17, 2012
Russia's top independent gas producer vows to fight tooth and nail against proposed tax hikes.

Kazakhstan to Open Oil Link to Kyrgyzstan

headlines@energyintel.com

Nefte Compass
Thu., May. 17, 2012
Kazakhstan has agreed to build a 40,000 b/d oil pipeline to neighboring Kyrgyzstan.

Georgians Make Bond Market Debut

headlines@energyintel.com

Nefte Compass
Thu., May. 17, 2012
Georgian Oil and Gas Corp. has placed $250 million in eurobonds, following in the footsteps of Azeri counterpart Socar.

Equities and Currencies

headlines@energyintel.com

Nefte Compass
Thu., May. 17, 2012
Share and Currency Prices Closing May 16, 2012

JKX Starts Russian Gas Sales

headlines@energyintel.com

Nefte Compass
Thu., May. 17, 2012
The UK independent has become a rare foreign entrant onto the Russian gas sales market.

Gazprom Neft Targets Technology Transfer

headlines@energyintel.com

Nefte Compass
Thu., May. 17, 2012
Gazprom Neft is the latest to announce plans to develop tight oil in Siberia using shale gas technology.

Kazakh Producer Compensated for Extra Costs

headlines@energyintel.com

Nefte Compass
Thu., May. 17, 2012
Kazmunaigas Exploration Production is benefiting from a rise in domestic oil prices.

EU Keeps Door Open for South Stream

headlines@energyintel.com

Nefte Compass
Thu., May. 17, 2012
The EU has not said a final "no" to Moscow's request for its South Stream gas pipeline to be given Brussels' favored Ten-E status.

Azerbaijan, Turkey Keep Tanap on Track

headlines@energyintel.com

Nefte Compass
Thu., May. 17, 2012
Baku and Ankara should finalize key agreements on the Tanap gas pipeline by the end of this month.

Ukraine Picks Shell, Chevron for Shale

headlines@energyintel.com

Nefte Compass
Thu., May. 17, 2012
The fields could cater for 10% of Ukraine's needs, easing the country's dependence on Russian gas.

Tatneft Hopes for Libyan Return

headlines@energyintel.com

Nefte Compass
Thu., May. 17, 2012
Tatneft aims to resume operations in Libya in the fourth quarter of 2012 that were halted by last year's conflict.

Novatek Reaps Higher Netbacks

headlines@energyintel.com

Nefte Compass
Thu., May. 17, 2012
Greater proximity to end-users helped top Russian gas independent Novatek lift profits.

E.On Reaps Rewards From Russian Power Business

headlines@energyintel.com

Nefte Compass
Thu., May. 17, 2012
Russia provided one of the few bright spots for Germany's E.On in the first quarter of 2012.

TNK-BP Profits Fall Despite Higher Production

headlines@energyintel.com

Nefte Compass
Thu., May. 17, 2012
TNK-BP saw a mixed first quarter after rising costs offset strong prices and increased production.

Kazakh Crude Oil and Gas Condensate Production, April 2012

headlines@energyintel.com

Nefte Compass
Thu., May. 17, 2012
Kazakh Crude Oil and Gas Condensate Production, April 2012

Offtakers of Seaborne Crude Oil Exports, April 2012

headlines@energyintel.com

Nefte Compass
Thu., May. 17, 2012
Offtakers of Seaborne Crude Oil Exports, April 2012

Offtakers of Seaborne Crude Oil Exports, March 2012

headlines@energyintel.com

Nefte Compass
Thu., May. 17, 2012
Offtakers of Seaborne Crude Oil Exports, March 2012

Barcelona Helps Litasco Build for the Future

headlines@energyintel.com

Nefte Compass
Thu., May. 17, 2012
At the recent launch of its new diesel terminal in the port of Barcelona, Litasco Group Chief Executive Officer Sergei Chaplygin outlined the company's expansion plans and targets in an exclusive interview with Nefte Compass.

Enbridge to Invest in West-East Oil Line

headlines@energyintel.com

Oil Daily
Thu., May. 17, 2012
Enbridge kicked off more than C$3 billion (US$3 billion) of oil pipeline expansions on Wednesday, with the bulk of the investment going to plans to transport large volumes of western Canadian crude to Eastern refineries.

Italy's Eni Adds to Natural Gas Bounty Offshore Mozambique

headlines@energyintel.com

Oil Daily
Thu., May. 17, 2012
Italy's Eni announced Wednesday another giant natural gas discovery in Mozambique's deepwater Rovuma Basin, increasing its estimate for the potential gas in place for Offshore Area 4 to between 47 Tcf and 52 Tcf. Across the border in Tanzania, BG and Ophir Energy also reported a smaller, yet still substantial, gas discovery of around 3.5 Tcf in Block 1.

July Brent Crude Drops Below $110, Nymex WTI Approaches $90

headlines@energyintel.com

Oil Daily
Thu., May. 17, 2012
The new front-month July Brent crude contract fell below $110 in late trading on Wednesday, as eurozone pessimism outweighed supportive US inventory numbers.

Latest Market Trends May 16, 2012

headlines@energyintel.com

Oil Daily
Thu., May. 17, 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 16, 2012

headlines@energyintel.com

Oil Daily
Thu., May. 17, 2012
Stock price movements for leading companies in various subsectors of the oil and gas industry.

Daily Oil and Gas Price Review May 16, 2012

headlines@energyintel.com

Oil Daily
Thu., May. 17, 2012
Overview of domestic and international spot and futures prices for crude oil, refined petroleum products and natural gas.

EOG Joins Encana, Devon in Tuscaloosa Marine Shale Oil Play

headlines@energyintel.com

Oil Daily
Thu., May. 17, 2012
EOG Resources has amassed at least 120,000 acres in the emerging Tuscaloosa Marine Shale oil play in the past six months and has applied for permits to drill two horizontal wells, an expert on the play told an industry gathering on Wednesday.

Total Halts North Sea Leak

headlines@energyintel.com

Oil Daily
Thu., May. 17, 2012
Total has stopped the flow of gas leaking from the G4 well at its 46.2%-operated UK North Sea Elgin-Franklin complex after carrying out a successful well intervention operation, the French major announced on Wednesday.

Tepco to Invest in Wheatstone LNG

headlines@energyintel.com

Oil Daily
Thu., May. 17, 2012
Japan's embattled power utility Tokyo Electric Power (Tepco) remains keen to invest in US Chevron's Wheatstone LNG project in Australia, despite having racked up huge losses following the Fukushima crisis last year.

Oxfam Sues SEC Over Transparency

headlines@energyintel.com

Oil Daily
Thu., May. 17, 2012
Oxfam America has filed a lawsuit against the US Securities and Exchange Commission (SEC) for failing to issue a final financial transparency regulation that would apply to energy and mining companies.

BP to Restart West Coast Refinery

headlines@energyintel.com

Oil Daily
Thu., May. 17, 2012
BP plans to complete the restart of its 225,000 b/d Cherry Point, Washington, refinery by the end of May, according to sources familiar with refinery operations.

US Seeks G8 Support for Oil Release

headlines@energyintel.com

Oil Daily
Thu., May. 17, 2012
President Barack Obama will seek support to tap emergency oil reserves from other Group of Eight leaders at a summit this weekend before the European Union's July embargo of Iranian crude, Kyodo news agency reported on Wednesday.

Apache Hopes to Repeat Forties Success at UK's Beryl Field

headlines@energyintel.com

Oil Daily
Thu., May. 17, 2012
Impressive results from a well at Apache's recently acquired Beryl field lend credence to the notion that the US independent can revitalize production from the mature UK North Sea property.

Mixed US Test Results for Gasoline Containing 15% Ethanol

headlines@energyintel.com

Oil Daily
Thu., May. 17, 2012
Testing by the US auto and oil industries indicates that some car engines can encounter serious problems if they run on gasoline containing up to 15% ethanol -- a blend known as E15. On the other hand, the tests also showed that some cars run well on fuel containing up to 20% ethanol.

W&T Sells US Gulf Stake

headlines@energyintel.com

Oil Daily
Thu., May. 17, 2012
W&T Offshore said it has sold its 40% working interest in the South Timbalier 41 field in the Gulf of Mexico to Energy Partners Ltd. (EPL) for $32.4 million. EPL already held a 60% working interest in the field.

Repsol Files YPF Compensation Claim in US Court

headlines@energyintel.com

Oil Daily
Thu., May. 17, 2012
Spain's Repsol YPF and asset management firm Texas Yale Capital have launched a class action lawsuit in New York seeking compensation from the government of Argentina, which recently renationalized Repsol's Argentina subsidiary YPF.

Summary of Weekly Petroleum Data for the Week Ending May 11, 2012

headlines@energyintel.com

Oil Daily
Thu., May. 17, 2012

Downstream Weighs on Petrobras

headlines@energyintel.com

Oil Daily
Thu., May. 17, 2012
Brazil’s state-controlled Petrobras reported net income of 9.2 billion reals ($4.6 billion) in this year’s first quarter, 16% lower than in the same period of last year, despite a 2% increase in production volumes of oil and gas

Contact Us

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Thu., May. 17, 2012
Contact our senior staff to discuss market conditions.

Degree Days

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Thu., May. 17, 2012
Sum of temperature variances above and below 65 degrees for six key cities.

Today's Short-Term Weather Forecast

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Thu., May. 17, 2012
Weather forecast from the NOAA.

Gas Needed to Replace Offline Nuclear Capacity

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Thu., May. 17, 2012
Nuclear Regulatory Commission's daily power reactor status.

Natural Gas/Power Spark Spreads

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Thu., May. 17, 2012
Cost of using gas turbines of various heat efficiencies.

Spot Cash Electricity Prices

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Thu., May. 17, 2012
Change in spot power price is from previous day.

Fuel Competition

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Thu., May. 17, 2012
Spreads between volume-weighted gas prices and competing fuels.

Briefly Noted

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Thu., May. 17, 2012
Summary of the day's energy news.

Natural Gas Futures Contracts

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Thu., May. 17, 2012
Results of Nymex trading for Henry Hub gas futures contracts.

Natural Gas Spot Prices

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Thu., May. 17, 2012
Gas deals done for next-day flow or weekend delivery.

Prompt-Month Gas Forwards

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Thu., May. 17, 2012
Gas deals settled against the expiration price for that month.

Storage Report

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Thu., May. 17, 2012
North American storage volumes as of last Friday.

Market Watch

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Thu., May. 17, 2012
June gas futures took a breather from this week's 7.7% jump in prices, dipping less than 1% into the $2.50s.

Brent Futures Fall Below $110 on Eurozone Pessimism

headlines@energyintel.com

International Oil Daily
Thu., May. 17, 2012
The new front-month July Brent crude contract fell below $110 in late trading on Wednesday, as eurozone pessimism outweighed supportive US inventory numbers.

US Seeks G8 Support To Tap Oil Reserves

headlines@energyintel.com

International Oil Daily
Thu., May. 17, 2012
President Barack Obama will seek support to tap emergency oil reserves from other Group of Eight leaders at a summit this weekend before the European Union's July embargo of Iranian crude, Kyodo news agency reported on Wednesday.

Repsol Files Compensation Suit Against YPF in US Court

headlines@energyintel.com

International Oil Daily
Thu., May. 17, 2012
Spain's Repsol YPF and asset management firm Texas Yale Capital have launched a class action lawsuit in New York seeking compensation from the government of Argentina, which recently renationalized Repsol's Argentina subsidiary YPF.

Daily Oil and Gas Price Review May 16, 2012

headlines@energyintel.com

International Oil Daily
Thu., May. 17, 2012
Overview of domestic and international spot and futures prices for crude oil, refined petroleum products and natural gas.

Latest Market Trends May 16, 2012

headlines@energyintel.com

International Oil Daily
Thu., May. 17, 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 16, 2012

headlines@energyintel.com

International Oil Daily
Thu., May. 17, 2012
Stock price movements for leading companies in various subsectors of the oil and gas industry.

Petrobras Downstream Weighs Down Income

headlines@energyintel.com

International Oil Daily
Thu., May. 17, 2012
Brazil's state-controlled Petrobras reported net income of 9.2 billion reals ($4.6 billion) in this year’s first quarter, 16% lower than in the same period of last year, despite a 2% increase in production volumes of oil and gas

East Africa Racks Up Further Gas Finds

headlines@energyintel.com

International Oil Daily
Thu., May. 17, 2012
Italy's Eni announced Wednesday another giant natural gas discovery in Mozambique's deepwater Rovuma Basin, increasing its estimate for the potential gas in place for Offshore Area 4 to between 47 Tcf and 52 Tcf. Across the border in Tanzania, BG and Ophir Energy also reported a smaller, yet still substantial, gas discovery of around 3.5 Tcf in Block 1.

Nabucco West Submits Bid

headlines@energyintel.com

International Oil Daily
Thu., May. 17, 2012
The EU-backed Nabucco pipeline venture looking to ship Caspian and Mideast gas to Europe on Wednesday submitted a proposal for a scaled-down version of itself to carry Azeri gas from Turkey’s western border.

Energy Intelligence Launches New Energy

headlines@energyintel.com

International Oil Daily
Thu., May. 17, 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.

Tethys Posts Loss, Ups Kazakh Reserves

headlines@energyintel.com

International Oil Daily
Thu., May. 17, 2012
Central-Asia focused Tethys Petroleum posted a steeper net loss for the first quarter on higher expenses, but also revealed a higher estimate for its reserves in Kazakhstan.

US Camac Takes Four Kenyan Exploration Blocks

headlines@energyintel.com

International Oil Daily
Thu., May. 17, 2012
Houston-based Camac Energy made its East African debut this week when it signed production sharing contracts for four exploration blocks in Kenya. The deals will see the little-known independent, whose only other operations are in Nigeria and China, line up alongside existing players BG, Total and US Anadarko Petroleum in exploring the Kenyan offshore, where interest has been sparked by massive gas strikes offshore Tanzania and Mozambique to the south.

E.On Confirms Sale of German Gas Grid

headlines@energyintel.com

International Oil Daily
Thu., May. 17, 2012
German utility E.On on Wednesday confirmed recent rumors that it has agreed to sell its 12,000 km gas transmission network in Germany -- Open Grid Europe -- to an Australian-led consortium for roughly €3.2 billion ($4.1 billion).

Total Stops Elgin Gas Leak

headlines@energyintel.com

International Oil Daily
Thu., May. 17, 2012
Total has stopped the flow of gas leaking from the G4 well at its 46.2%-operated UK North Sea Elgin-Franklin complex after carrying out a successful well intervention operation, the French major announced on Wednesday.

Uzbekistan Aims to Double Reserves by 2030

headlines@energyintel.com

International Oil Daily
Thu., May. 17, 2012
Uzbekistan's state-run Uzbekneftegas plans to more then double the country's oil and gas reserves by 2030 as it aspires to ship more energy supplies to China. The firm plans to increase reserves to 5.6 billion tons of oil equivalent, a company official was quoted as saying by local media Wednesday.

Aminex Quits North Korea

headlines@energyintel.com

International Oil Daily
Thu., May. 17, 2012
Aminex said Wednesday it is pulling out of North Korea to concentrate on the booming East African upstream.

Japan Stocks Hit 16-Week High

headlines@energyintel.com

International Oil Daily
Thu., May. 17, 2012
Japan's onshore oil product inventories rose for a third consecutive week, reaching their highest level in 16 weeks, according to data released by the Petroleum Association of Japan trade group.

Qatar's Conservative Oil Policy Hits Maersk Hard

headlines@energyintel.com

International Oil Daily
Thu., May. 17, 2012
There are no plans to hike output from Qatar's offshore Al-Shaheen oil field beyond current levels because of Qatari government policy, says a senior official with Denmark's Maersk Oil, the sole operator of the field.

Japan Consumes More LNG

headlines@energyintel.com

International Oil Daily
Thu., May. 17, 2012
Japanese utilities burned 4.56 million tons of LNG equivalent in April, up 33% from a year ago, data from the Federation of Electric Power Companies of Japan showed Wednesday.

Inpex, Chubu Ink Ichthys Deal

headlines@energyintel.com

International Oil Daily
Thu., May. 17, 2012
Japan’s Inpex and partners of the Ichthys LNG project have agreed to transfer a 0.735% interest of the 8.4 million ton/yr project to Chubu Electric, which earlier agreed to buy 0.49 million tons/yr of LNG from the project for 15 years.

Tepco Woos Japanese Partners for Wheatstone LNG Investment

headlines@energyintel.com

International Oil Daily
Thu., May. 17, 2012
Japan's embattled power utility Tokyo Electric Power (Tepco) remains keen to invest in US Chevron's Wheatstone LNG project in Australia despite having racked up huge losses following the Fukushima crisis last year.

Shell, Asian Partners Unveil Details of LNG Canada

headlines@energyintel.com

International Oil Daily
Thu., May. 17, 2012
Investors in a Royal Dutch Shell-led LNG export scheme near Kitimat in northern British Columbia unveiled formally Wednesday their LNG Canada project, which also marks the start of formal consultations with local communities including the aboriginal group First Nations about the plan.

Aussie Gov't Says Future Natgas Assured

headlines@energyintel.com

LNG Intelligence
Thu., May. 17, 2012
Even without shale gas, current production could run for 184 years.

Oil Search Gets Bids

headlines@energyintel.com

LNG Intelligence
Thu., May. 17, 2012
Bids for Gulf of Papua stakes are attractive, exec says.

Shell, Asian Partners Unveil Details of LNG Canada

headlines@energyintel.com

LNG Intelligence
Thu., May. 17, 2012
Export scheme near Kitimat in northern British Columbia formally took the stage Wednesday.

Inpex, Chubu Ink Ichthys Deal

headlines@energyintel.com

LNG Intelligence
Thu., May. 17, 2012
Chubu takes some equity.

Japan Consumes More LNG

headlines@energyintel.com

LNG Intelligence
Thu., May. 17, 2012
April consumption is up 33% from a year ago.

East Africa Racks Up Further Gas Finds

headlines@energyintel.com

LNG Intelligence
Thu., May. 17, 2012
Both Tanzania and Mozambique move closer to LNG export projects.

EU Clears Angolan LNG JV

headlines@energyintel.com

LNG Intelligence
Thu., May. 17, 2012
No competition concerns seen by EU regulators.

India Proposes to Import Gas From US

headlines@energyintel.com

LNG Intelligence
Thu., May. 17, 2012
India floats proposal during government-to-government talks.

Market Insight: US and UK Gas Futures Prices

headlines@energyintel.com

LNG Intelligence
Thu., May. 17, 2012
Gas futures prices in the US and the UK

LNG Market Indicators

headlines@energyintel.com

LNG Intelligence
Thu., May. 17, 2012
LNG Market Indicators for May 17 2012

LNG Netbacks at Key Receiving Terminals

headlines@energyintel.com

LNG Intelligence
Thu., May. 17, 2012
LNG Netbacks at Key Receiving Terminals for May 17 2012

'Haphazard' Policy

headlines@energyintel.com

LNG Intelligence
Thu., May. 17, 2012
But North American LNG exports will proceed anyway, says Barclays.

More Details on Texas Liquefaction

headlines@energyintel.com

LNG Intelligence
Thu., May. 17, 2012
Excelerate execs talked more about their proposed floating liquefaction project off Texas.

Energy Equity Index Values

headlines@energyintel.com

New Energy
Thu., May. 17, 2012
The comparative performance of share prices for oil and gas, nuclear and renewable energy companies.

EU Biofuel Fundamentals

headlines@energyintel.com

New Energy
Thu., May. 17, 2012
Data on biodiesel and ethanol deliveries in the European Union.

US Biofuel Fundamentals

headlines@energyintel.com

New Energy
Thu., May. 17, 2012
Supply, demand and inventory data for ethanol and biodiesel in the US.

US Ethanol and Gasoline Futures

headlines@energyintel.com

New Energy
Thu., May. 17, 2012
A graph comparing price movements in US gasoline and ethanol futures markets.

Key Biofuel Prices

headlines@energyintel.com

New Energy
Thu., May. 17, 2012
The latest prices for ethanol and biodiesel from markets in Europe and the US.

Average EU Carbon Prices

headlines@energyintel.com

New Energy
Thu., May. 17, 2012
Monthly average prices from Europe's carbon market, converted into dollars.

EU Carbon Futures Prices

headlines@energyintel.com

New Energy
Thu., May. 17, 2012
Europe's carbon futures prices over the past year and their forward curve.

Global Carbon Prices

headlines@energyintel.com

New Energy
Thu., May. 17, 2012
Carbon prices for benchmark months from markets in Europe, the US and New Zealand.

Global Electricity Prices

headlines@energyintel.com

New Energy
Thu., May. 17, 2012
Select wholesale electricity prices from the Americas, Europe and Asia.

Power Generation by Source

headlines@energyintel.com

New Energy
Thu., May. 17, 2012
A set of charts showing the breakdown of power generation by source in key countries around the world.

Fuel Switching Threshold

headlines@energyintel.com

New Energy
Thu., May. 17, 2012
The fuel switching threshold -- the carbon price at which it becomes more profitable to generate electricity from gas than from coal, in Europe and the US.

Levelized Cost of Energy

headlines@energyintel.com

New Energy
Thu., May. 17, 2012
EI New Energy's proprietary data on the costs of building facilities and generating electricity, known as the levelized cost of energy (LCOE). This dataset covers eight forms of renewables, four forms of fossil fuel and nuclear.

Energy Futures: Reference Prices

headlines@energyintel.com

New Energy
Thu., May. 17, 2012
A summary of key reference prices from carbon, oil, gas and coal futures markets.

Renewable Energy Price Parity

headlines@energyintel.com

New Energy
Thu., May. 17, 2012
A calculation of the gas or carbon price that would allow renewable energy to match the profitability of new gas-fired power, without subsidies.

Regional Power Generation Costs

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New Energy
Thu., May. 17, 2012
A snapshot of energy costs, this table compares the lifetime costs of generating electricity for wind, solar, coal and gas.

Bonn Climate Talks Get Going

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New Energy
Thu., May. 17, 2012
Participants from 181 countries convened this week in Bonn, Germany, for the latest round of international climate talks.

EU Warns Asian Airlines

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New Energy
Thu., May. 17, 2012
Airlines from China and India could be fined for failing to report their carbon dioxide (CO2) emissions for flights in and out of the EU, as required under the controversial expansion of the EU’s Emissions Trading System (ETS) to aviation.

As Shell Hesitates, BP Still Bullish on Advanced Ethanol

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New Energy
Thu., May. 17, 2012
Royal Dutch Shell's recent decision to shelve plans for its first commercial-scale cellulosic ethanol plant with Canadian partner Iogen appeared to set back prospects for the advanced biofuel. The situation is very different, however, across the border in the US, where strong policy support continues. Rival major BP remains positive about prospects there, and is pushing ahead with a commercial-sized project.

Saudis Unveil Solar Plan

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New Energy
Thu., May. 17, 2012
Saudi Arabia's King Abdullah City for Atomic and Renewable Energy (Ka-Care) revealed its proposed future energy mix to accommodate high energy demand growth in the kingdom, although the plans, submitted nearly a year ago, still lack approval from the most senior levels of government.

US Advances Atlantic Wind

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New Energy
Thu., May. 17, 2012
The US government took steps to prepare areas for wind energy leasing rights off the mid- and north Atlantic coasts, in hope of establishing the first offshore wind farms in federal waters.

LNG Adds Twist to Abu Dhabi Renewable Plan

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New Energy
Thu., May. 17, 2012
After spending years convincing the world that it is serious about renewable and nuclear energy, Abu Dhabi has decided to turn to imported LNG to meet surging electricity demand from 2014. The move will allow the emirate to meet near term demand as it works on its nuclear and renewables projects, but also highlights the slow progress of its alternative energy program. New Energy looks at the issues.

France Rethinks Nuclear Role

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New Energy
Thu., May. 17, 2012
France is set to rethink its civilian nuclear policy, following the victory by Socialist President Francois Hollande over pro-nuclear Nicolas Sarkozy.

US Candidates Far Apart on Carbon, Less on Green Energy

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New Energy
Thu., May. 17, 2012
With six months to go until US elections, it's clear that prospects for a national carbon price in the US will hinge on whether President Barack Obama earns a second four-year term or is replaced by presumed Republican opponent Mitt Romney. The outcome of the contest is also set to affect a raft of environmental policies, but here, the differences may not be as sharp as portrayed by the campaigns and mainstream media.

Wind Eyes Floating Structures in Push to Deeper Waters

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New Energy
Thu., May. 17, 2012
For the UK and Denmark, favorable coastal conditions have allowed them to become global leaders in offshore wind, using conventional seabed mounted substructures. But for many others, prime real estate is in waters too deep for this technology. Attention is now focusing on tackling this with floating structures, with Europe again leading the way.

China Eyes Renewable Quotas

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New Energy
Thu., May. 17, 2012
Beijing is soliciting feedback on proposed requirements for a renewable energy quota system, signaling that the country is on track to introduce a renewable portfolio standard this year.

China Sets Sights on Electric Vehicles, Fuel Economy

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New Energy
Thu., May. 17, 2012
While US efforts to improve vehicle efficiency attract most attention, China -- now the world's largest automobile market -- is also forging ahead quietly with its own efforts to control the environmental impact of explosive car ownership growth. The mission: to rein in Chinese oil demand. New Energy looks inside the program.

Rival Energy Forms Face Complex Landscape, Data Shows

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New Energy
Thu., May. 17, 2012
As technologies advance and economies of scale are built up, the renewable energy sector is increasingly competing with conventional energy on its own terms. Proprietary data on the cost of electricity generation developed by Energy Intelligence's New Energy confirms this changing landscape, but also paints a complex picture.

Beyond the Conventional

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New Energy
Thu., May. 17, 2012
Welcome to New Energy, a new publication from Energy Intelligence devoted to renewables, carbon and transportation. New Energy will cover alternative energy in the context of the broader business, with a focus on the strategic interplay between different energy forms and between incumbents and new players.

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

headlines@energyintel.com

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

headlines@energyintel.com

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

headlines@energyintel.com

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

headlines@energyintel.com

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

headlines@energyintel.com

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

headlines@energyintel.com

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.

Contact Us

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Wed., May. 16, 2012
Contact our senior staff to discuss market conditions.

Degree Days

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Wed., May. 16, 2012
Sum of temperature variances above and below 65 degrees for six key cities.

Today's Short-Term Weather Forecast

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NGW's Gas Market Reconnaissance
Wed., May. 16, 2012
Weather forecast from the NOAA.

Gas Needed to Replace Offline Nuclear Capacity

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NGW's Gas Market Reconnaissance
Wed., May. 16, 2012
Nuclear Regulatory Commission's daily power reactor status.

Natural Gas/Power Spark Spreads

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Wed., May. 16, 2012
Cost of using gas turbines of various heat efficiencies.

Spot Cash Electricity Prices

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Wed., May. 16, 2012
Change in spot power price is from previous day.

Fuel Competition

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Wed., May. 16, 2012
Spreads between volume-weighted gas prices and competing fuels.

Briefly Noted

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Wed., May. 16, 2012
Summary of the day's energy news.

Natural Gas Futures Contracts

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Wed., May. 16, 2012
Results of Nymex trading for Henry Hub gas futures contracts.

Prompt-Month Gas Forwards

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NGW's Gas Market Reconnaissance
Wed., May. 16, 2012
Gas deals settled against the expiration price for that month.

Natural Gas Spot Prices

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Wed., May. 16, 2012
Gas deals done for next-day flow or weekend delivery.

Market Watch

headlines@energyintel.com

NGW's Gas Market Reconnaissance
Wed., May. 16, 2012
The rally in natural gas futures rolled on for another session Wednesday, surging 4.8% into the $2.60s.

Four-Month Low for Euro Sinks Nymex, Boosts Brent

headlines@energyintel.com

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

headlines@energyintel.com

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

headlines@energyintel.com

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

headlines@energyintel.com

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

headlines@energyintel.com

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

headlines@energyintel.com

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%

headlines@energyintel.com

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

headlines@energyintel.com

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

headlines@energyintel.com

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

headlines@energyintel.com

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

headlines@energyintel.com

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

headlines@energyintel.com

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

headlines@energyintel.com

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

headlines@energyintel.com

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

headlines@energyintel.com

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

headlines@energyintel.com

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

headlines@energyintel.com

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

headlines@energyintel.com

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

headlines@energyintel.com

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

headlines@energyintel.com

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

headlines@energyintel.com

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

headlines@energyintel.com

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

headlines@energyintel.com

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

Blackstone Signs on at Sabine Pass

headlines@energyintel.com

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

headlines@energyintel.com

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

China to Consume 260 Bcm by 2015

headlines@energyintel.com

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

Sinopec Plans First Shale Output

headlines@energyintel.com

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

headlines@energyintel.com

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

South Korean LNG Imports Up

headlines@energyintel.com

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

headlines@energyintel.com

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

UAE Joins Gas Forum

headlines@energyintel.com

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

Mozambique Gas Haul Nears 100 Tcf

headlines@energyintel.com

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

Repsol Eyes Australian Gas After Argentina Setback

headlines@energyintel.com

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

InterOil: LNG Project Can Be Saved

headlines@energyintel.com

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

Bentek Energy's Gas Metrics US LNG Imports

headlines@energyintel.com

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

LNG Market Indicators

headlines@energyintel.com

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

LNG Netbacks at Key Receiving Terminals

headlines@energyintel.com

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

Racing to Market

headlines@energyintel.com

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

headlines@energyintel.com

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

headlines@energyintel.com

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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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

Sakhalin Energy Says Japan Ups Order for LNG

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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

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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

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

Japanese Town Backs Nuke Restarts

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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

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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

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

Angola LNG Delayed Again

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

Yemen LNG Pipe Bombed Again

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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

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

LNG Market Indicators

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

LNG Netbacks at Key Receiving Terminals

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

More Action in the Pacific

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

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

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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

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

Rational Apathy

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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

Spot Cash Electricity Prices

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

Natural Gas/Power Spark Spreads

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

Contact Us

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

Degree Days

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NGW's Gas Market Reconnaissance
Mon., May. 14, 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
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

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

Natural Gas Spot Prices

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

Prompt-Month Gas Forwards

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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?