fpembleton,
Beautiful up there in Alberta, haven't had a chance to visit there yet, but have a friend or two in Edmonton so have seen a lot of photos.
Oil news this morning (sorry to C&P, couldn't capture the URL):
[B] OIL UPDATE: Gasoline plunges as summer worry eases
15-May-2001 7:36:15
(BridgeNews) May 15, 0730 GMT/1630 JT
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TOP STORIES:
NYMEX Oil Review: Gasoline plunges as summer worry eases
New York, May 14 (BridgeNews) - Gasoline futures fell as much as 6% Monday
as worries about the ability to meet motorists' demand this summer continued to
dissipate. The decline dragged New York crude for most of the day, before a
late short-covering rally helped crude futures settle up 16 cents at $28.71 per
barrel. Jun gasoline settled 403 points lower, or 3.72%, at $1.0098 a gallon,
up from its 97.50-cent intra-day low.
( Story .1900 )
API Preview: Crude seen lower; gasoline, distillate, runs up
New York, May 14 (BridgeNews) - Inventories of crude oil are expected to
have declined by 2.1 million barrels last week. Meanwhile, gasoline stocks are
expected to have risen 2.0 million barrels, distillate inventories 0.85 million
barrels and refinery operations by 0.65 basis points of capacity, according to
the average of analysts and brokers estimates.
( Story .1885 )
US retail gasoline price rise smallest in at least 2 months
New York, May 1 (BridgeNews) - Gasoline prices rose by 1 cent per gallon
last week to $1.713, hitting another all-time high for U.S. retail regular
grade prices but registering the smallest increase in at least two months.
( Story .21099 )
Buyers: Saudis hike crude allocation to Europe for June vs May
London, May 14 (BridgeNews) - 0618 ET - Saudi Arabia has informed its
European crude customers that it will impose a smaller cut from nominated
contractual volumes in June than it did in May, sources with contract holders
in Europe said Monday. State-owned Saudi Aramco has said it will supply roughly
4-5% more crude against nominated volumes to Europe than in May, the sources
said. This leaves cuts from nominations in June at 15-28%, compared with 20-33%
in May, the sources added.
( Story .12724 )
IPO Filing: Statoil ASA files $57.62 mln of stock for US IPO
Washington, May 14 (BridgeNews) - Statoil ASA, owned by the Kingdom of
Norway, registered $57.62 million of stock for its U.S. initial public
offering, according to a Securities and Exchange Commission filing Monday.
Statoil and Norway will be selling shares in the IPO. Statoil released the date
schedule for its initial public offering, starting with pre-marketing on Monday
May 14 and concluding with first day trading in New York and Oslo on June 18.
( Stories .12142, .16995 )
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OF INTEREST:
--ASIA/PACIFIC--
OPEC: Iran to supply full nominated volumes to India in June
Singapore, May 15 (BridgeNews) - The National Iranian Oil Company (NIOC)
will supply full nominated volumes of June-loading crude oil to Indian Oil
Corp. (IOC), maintaining the May stance, according to industry sources. The
state-run Saudi Aramco, however, will cut its June crude supplies by 6% from
the nominated volumes to the IOC, according to the sources.
( Story .22497 )
Thai-Indonesia negotiate 5,000-bpd Murban, Oman process pact
Singapore, May 15 (BridgeNews) - The Petroleum Authority of Thailand (PTT)
and Indonesia's Pertamina will discuss a possible crude refining pact, an
official close to the matter said Tuesday. Thailand's offer apparently is to
refine an initial 5,000 barrels per day of crude oil--ideally Abu Dhabi Murban
or Oman--and supply Pertamina with oil products, mainly gas oil, he said.
( Story .11377 )
Taiwan seen to issue July crude tender if OPEC keeps June cuts
Singapore, May 15 (BridgeNews)- Taiwan's Chinese Petroleum Corp. (CPC) will
likely issue a tender to buy July-loading Persian Gulf crudes next week, if its
term suppliers of the Organization of Petroleum Exporting Countries (OPEC)
maintain similar supply cuts in June from May, according to sources Tuesday.
( Story .23143 )
Australia Laminaria oil field to spend A$130 mln on 2nd phase
Sydney, May 15 (BridgeNews) - The joint venture partners in the Laminaria
oil field, situated in the Timor Sea, approved A$130 million in capital
expenditure for the second stage of Laminaria's development, Woodside Petroleum
Ltd., the operator of the field said on Tuesday. Laminaria's total field
production capacity is expected to increase by about 21 million barrels in the
period mid-2002 to the end of 2003.
( Story .11253 )
Japan Press: Gasoline sales fall in early May on price hike
Tokyo, May 15 (BridgeNews) - Gasoline sales by Japan's major oil
distributors are estimated to have fallen 5% on year in the first ten days of
May due to a wholesale price hike from April, the Japanese-language
Nenryo-Yushi Shimbun reported Tuesday. Steady sales before "Golden Week"
holidays also depressed gasoline sales in early May, according to the report.
( Story .22819 )
Repeats: Indian Oil to maintain Iranian term crude buy in 2001-02
Mumbai, May 14 (BridgeNews) - The state-owned Indian Oil Corp. (IOC) will
likely maintain the volume of crude import from Iran in its term contract for
2001-02, expected to be renewed this month, a government official said Monday.
A delegation from IOC will visit Iran later this month to finalize the
contract, the official added.
( Story .22871 )
--AMERICAS--
Venezuela PDVSA restarts 77,000bpd Cardon catcracker
Caracas, May 14 (BridgeNews) - Venezuela's state oil company PDVSA
restarted the 77,000 bpd fluid catalytic cracker at its 305,000 bpd Cardon
refinery over the weekend, industry sources said Monday. The unit was shut May
3 for repairs following a series of power interruptions. PDVSA has delayed some
gasoline cargoes from the refinery, but did not cancel any, the company said.
( Story .17307 )
Kerr-McGee to buy HS Resources for $1.7 bln
New York, May 14 (BridgeNews) - Kerr-McGee Corp. agreed to acquire HS
Resources Inc. for $1.7 billion, including the assumption of debt worth $450
million. Kerr-McGee will pay $66 per HS Resources share in cash for 70% of the
purchase price and stock in the ratio of 0.9404 Kerr-McGee shares for each HS
Resources share for the remaining 30%. The purchase is expected to increase
Kerr-McGee's daily gas production volumes by 15% and reduce lifting costs by
about 6%. The transaction is expected to add to Kerr-McGee's earnings and cash
flow immediately.
( Story .14048 )
--EUROPE/MIDEAST/AFRICA--
Traders: Norway Heidrun June crude program set at 5.27 mln bbl
London, May 14 (BridgeNews) - The June loading program for Norway's
Norwegian Sea Heidrun oilfield has been set at 5.27 million barrels, North Sea
crude trading sources said Monday. The June program is made up of four cargoes
of 600,000 barrels each, two cargoes of 950,000 barrels each, one cargo of
650,000 barrels, and four pipeline cargoes of 80,000 barrels each, the trading
sources said.
( Story .15903 )
Best,
Roebear |
