Only registred members can create thier own customized alerts.
ENERGY MARKETS REPORT INCLUDING: OPEC have agreed that crude prices should remain at current levels
WTI Crude futures have fallen from a three-day high over concerns that Greece still have not reached a debt-swap deal, threatening the European economy and fuel demand. The Algerian Oil Minister has commented that OPEC are happy with the current price levels of oil, adding that OPEC have never planned to offset Iranian supply cuts with a boost in production.
Oil & Gas News:
• OPEC have agreed that crude prices should remain at current levels and have said that the organisation has never discussed pumping more oil to offset a possible drop in Iranian exports, according to Algeria’s Oil Minister.
• China will cut crude oil imports from Iran for a third month because of differences over payment and price terms, according to unidentified sources.
• China may see the growth in net crude oil imports slow to 5.9% this year, reflecting the lowest level in 2006, according to the China National Petroleum Corp.
• The Italian Industry Minister has said the country’s gas situation is “certainly critical”. As a result, Italy is importing more gas from Algeria to offset lower Russian supplies, according to the CEO of energy giant Eni.
• A final framework is at hand on sweeping legislation to impose an impact fee and update safety regulations on Pennsylvania’s booming natural gas industry, according to top Republican state lawmakers.
• National Iranian Oil Company will supply light cargoes to the Asian region at the lowest premium in six months after a reduction by Saudi Arabia yesterday.
Geopolitical News:
• Iran's oil minister said the state would not retreat from its nuclear programme even if its crude oil exports grind to a halt.
• An explosion hit a gas pipeline running from Egypt to Israel on Sunday, the latest in a series of attacks on the installation that crosses the increasingly volatile Sinai region, witnesses and state media reported.
• A Nigerian militant group based in the oil-producing Niger Delta has claimed responsibility for an attack on an oil pipeline owned by Italian company Eni, a strike the military said was the work of criminal gangs.
• An explosion has ripped through a major oil pipeline feeding refinery in the Syrian city of Homs, according to residents.
Corporate News:
• Total have reported a power outage that affected pumps at its Port Arthur refinery in Texas. Power has since been restored.
• Russian gas exporter Gazprom has brought supplies to Europe back up to normal after reducing them "for a few days", but it is unable to meet increased demand amid freezing weather, a company official told Russian Prime Minister Vladimir Putin.
• Petrobras has found oil and natural gas in a Block in the state of Amazonias, the state-run oil company announced late Friday night. This is the second successful exploration in the area.
• Moeller-Maersk will not renegotiate the agreement with the Danish government that governs oil and gas exploration in the Nordic country’s part of the North sea, according to a Maersk executive.
• Petroleos de Venezuela have said their Cardon refinery in Falcon State, Venezuela has suffered a considerable fire.
• According to press reports, Chinese oil giant PetroChina has exported the first gasoline cargo from its 200,800BPD Qinzhou refinery.
Weather news:
Weather Derivatives forecast sees average temp. in the US for the next 6-10 days to be 3.0% above the average at this time of the year. The data is accurate as of 3rd February, 2012. There are no tropical cyclones at this time.
All 12 regions in Japan are expected to experience below-average temperatures in the month from January 28 to February 27, the weekly weather forecast released Friday by the Japan Meteorological Agency showed.
