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8/3/2019 Energy and Markets Newsletter 091311
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September13, 2011
Energy Data Highlights
Crude oil futures priceRetail gasoline price9/12/2011: $3.661/galdown$0.013 from week earlier
up$0.940 from year earlierRetail diesel price9/12/2011: $3.862/galdown$0.006 from week earlierup$0.919 from year earlier
Crude oil futures price9/9/2011: $87.24/bblup$0.79 from week earlierup$12.99 from year earlier
Natural gas futures price
9/9/2011: $3.915/mmBtuup$0.043 from week earlierup$0.145 from year earlier
Weekly coal production9/3/2011: 20.986 million tonsdown0.167 million tons from week earlierdown0.825 million tons from year earlier
http://www.eia.gov/
Natural Gas/ Power News
EIA Storage Release 9/1/11 (Actual): +64 Bcf Previous Week: +55 Bcf -4.2% Change from 1 Year Ago-1.9% Change 5-year Average
Japan Utilities' LNG Imports, Consumption Climb to Record Japan's 10 regional power utilities' imports and consumption of liquefied naturalgas rose to a record for a second month in August because of all-time lowutilization rates at nuclear power plants. The companies led by Tokyo ElectricPower Co. imported 5.28 million metric tons of LNG last month, up 23.5 percentfrom the same month last year, the Federation of Electric Power Companies said
today. Consumption rose 15.4 percent to 4.81 million tons.
Follow
8/3/2019 Energy and Markets Newsletter 091311
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http://news.businessweek.com/article.asp?documentKey=1376-LRFV316KLVS501-18SII6SP3MSCOUHM78GCF59CN0
Green/ Alternative Energy News
Repower Expands Wind-Turbine Plants in Germany to Meet Demand
Repower Systems SE is spending 10 million euros ($14.6 million) to expand two
wind-turbine production facilities in Germany to satisfy increasing demand. The
Hamburg-based company, a unit of Asia’s third-largest turbine maker Suzlon
Energy Ltd. (SUEL), will boost annual capacity at its nacelle and hub production
plant in Bremerhaven to 900 megawatts from 600 megawatts by 2012, the
company said today in a website statement. Repower is also expanding its facility
in the state of Brandenburg to assemble 3-megawatt turbines, instead of 2-
megawatt machines, by the end of this year. The smaller turbines will be built at
plants in Germany, Portugal and India, Repower said.
http://www.bloomberg.com/news/2011-09-13/repower-expands-wind-turbine-
plants-in-germany-to-meet-demand.html
AT&T to use sugarcane, cut petroleum, in plastic packaging AT&T will start packaging its cell phone accessories in bio-plastic instead of petroleum-based plastic next month, the telecom company announced thisweek.AT&T says the change is its latest effort to reduce the company’s carbonfootprint. While the new plastic packaging will contain petroleum, up to 30 percentwill be manufactured from plant materials, the company said in a statement.http://fuelfix.com/blog/2011/09/13/att-to-use-sugarcane-cut-petroleum-in-plastic-packaging/
Why green carbon technologies can't keep upIn June 2011, American Electric Power halted their flagship integrated clean coaland power project at the Mountaineer plant in West Virginia.http://globalpublicsquare.blogs.cnn.com/2011/09/12/why-green-carbon-technologies-cant-keep-up/
Crude Oil News
OPEC Daily Basket Price 9/10/2011 – $107.86
(9/9/2011 – $110.40)
Recent Rig Counts
Area
Last
Count
Cou
nt
Change
from Prior
Count
Date of
Prior
Count
Change
from Last
Year
Date of
Last Year's
Count
U.S. 9 Sept11
1958 -10 2 Sept 11 +304 10 Sept 10
Canada 9 Sept11
515 -2 2 Sept 11 +132 10 Sept 10
International
August2011
1183 +33 July 2011 +81 August 2010
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http://investor.shareholder.com/bhi/rig_counts/rc_index.cfm
Oil Pares Gains on Weak Demand Forecast
Oil pared early gains after the International Energy Agency (IEA) cut its estimate
for demand growth and raised its supply forecast on Tuesday, countering support
provided by rebounds in the euro and in stock markets. The IEA, which advises 28
industrialised countries on policy, said slowing economic growth had led the
agency to cut its oil demand growth forecast by 160,000 barrels per day for 2011
and by 190,000 bpd for 2012.Supply was also seen to rise more rapidly than
previously forecast over the next year, with Libyan crude oil production capacity
coming back sooner than expected and signs OPEC output was continuing to
grow.
http://www.cnbc.com/id/44493760
Oil Trades Near Four-Day Low in London as IEA Reduces Demand
Estimates
Oil futures traded near their lowest in four days in London after the International
Energy Agency cut demand estimates amid growing concern Greece will defaulton its debt.
Brent pared earlier gains after the IEA, an adviser on energy policy to 28 nations,
reduced its estimate of 2012 global oil demand by 400,000 barrels a day. Stock
markets in Europe extended a two-year low. A report from the U.S. Energy
Department tomorrow may show U.S. crude supplies fell for a second week as a
result of storms in the Gulf of Mexico.
http://www.bloomberg.com/news/2011-09-13/oil-trades-near-four-day-low-in-
london-as-iea-reduces-demand-estimates.html
Oil May Climb as Storms Hit Supply; Growth Concerns May Cap Upside:
Survey
Oil prices may trade higher this week after storms shut production in the Gulf of
Mexico though any upside will continue to be limited by global growth concerns
led by the debt crisis in the Europe, CNBC's weekly survey showed.
http://www.cnbc.com/id/44495792
Analysts look for US crude stock draw of 2.9 million barrels
Weekly oil data from the US Energy Information Administration and the American
Petroleum Institute should show a draw of about 2.9 million barrels in US
commercial crude stocks for the reporting week ended September 9, analystspolled by Platts said Monday. API is scheduled to release its weekly data at 4:30
p.m. EDT (2030 GMT) Tuesday. EIA's weekly oil statistics will be released at 10:30
a.m. EDT (1430 GMT) Wednesday.
http://www.platts.com/RSSFeedDetailedNews/RSSFeed/Oil/6468246
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Brent down on economy, U.S. crude rises on spread sale Brent crude fell in volatile trade on Monday, weighed down by concerns the eurozone debt crisis could dent the global economic recovery and a bout of spreadtrading. U.S. crude rose more than 1 percent as traders sold the spread betweenWTI and Brent crude prices after it widened to a record high last week. Brentfutures fell 52 cents to settle at $112.25 a barrel, after earlier falling as low as
$110.42. U.S. crude rose 95 cents to settle at $88.19. "In the Brent market, weare seeing a little more profit-taking on the WTI-Brent spread and that is why Brentis down a little and WTI is up," said Gene McGillian, analyst at Tradition Energy inStamford, Connecticut.http://www.reuters.com/article/2011/09/12/us-markets-oil-idUSTRE77838320110912
Oil Markets Open Week Mixed Fears of possible Greek bond default and its effect on the major European banks
triggered an equity market slide and US dollar rally which drove the oil markets
sharply lower to start the trading week as the oil markets continue to track
economic perceptions and the broader financial markets. Crude oil declined $2.24to a low at 485.00, while gasoline slipped nearly 5 ¾ cents to 2.7064, and heating
oil dropped nearly 6 cents to 2.9275 in light overnight trading volume to begin
Monday’s trading session before selling pressure eased an dlight short covering
rebounded the market slightly as morning trading neared.
http://www.theenergydesk.com/editorial.aspx?id=902846
OPEC Hints at Output Cuts The Organization of Petroleum Exporting Countries hinted Monday that some of itsmembers could reduce production as a slowing global economy dents oil demandand Libyan crude exports resume more rapidly than expected. OPEC trimmed its
2011 and 2012 oil-demand forecast amid economic weakness and predicted thatLibyan oil output would reach one million barrels a day within six monthshttp://online.wsj.com/article/SB10001424053111904265504576566281818778532.html?mod=WSJ_hp_LEFTWhatsNewsCollection
Shell, UT to study better shale production method Shell Oil is donating $7.5 million to establish a program at the University of Texasat Austin to study improved methods for extracting oil and gas fromunconventional rock formations containing vast energy resources.http://fuelfix.com/blog/2011/09/13/shell-ut-to-study-better-shale-production-method/
US Treasury lifts sanctions on Libyan oil subsidiaries...OFAC removes
ban on transactions with several Libyan oil company subsidiaries The US Treasury has lifted sanctions on several Libyan oil subsidiaries, following
international efforts to aid the National Transitional Council in rebuilding the
country. On Friday, the Office of Foreign Asset Control (OFAC) issued a licence
reversing sanctions imposed in February when unrest first broke out in Libya. This
new regulation allows US nationals to engage in any transactions involving entities
owned or controlled by the Libyan National Oil Corporation, with the exception of
Zueitina Oil Company, provided such transactions do not involve the Libyan
National Oil Corporation itself or any other persons still affected by sanctions.
http://www.risk.net/operational-risk-and-regulation/news/2108638/treasury-lifts-
sanctions-libyan-oil-subsidiaries
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Russia Sees Stalling Economy, Ruble Plunge at $60 Oil Price
Oil at $60 a barrel may halt Russia’s two-year economic expansion next year,
triggering a “substantial” devaluation of the ruble, the Economy Ministry said,
according to a document obtained by Bloomberg. Gross domestic product may
shrink as much as 1.4 percent next year under a negative scenario that projects a
“world recession” cutting the average price of Urals crude by almost a half fromthe current level, according to the report, submitted to the government for
approval last week. The price of Urals, the nation’s chief export oil blend, has
averaged $109.35 this year and was at $114.23 yesterday.
http://www.bloomberg.com/news/2011-09-13/russia-sees-stalling-economy-ruble-
plunge-at-60-oil-price.html
Weather
Tropical Storm MARIA
http://www.nhc.noaa.gov/text/refresh/MIATCPAT4+shtml/131135.shtml
6 to 10 Day Outlooks
Temperature
Precipitation
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8 to 14 day Outlooks
Temperature
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Precipitation