Petroleum Intelligence Weekly articles from January 2002

Petroleum Intelligence Weekly archives from January 2002

Korean refining cartel cracks under pressure.(Statistical Data Included)
January 7, 2002... Is the latest round of deregulation in South Korea and Japan finally going to shake up North Asia's stagnant downstream oil sector? Long protected by a highly cooperative form of competition, the North Asian model has ensured the survival of...

Economic slump poses global oil demand puzzle.(Statistical Data Included)
January 7, 2002... The outlook for global oil demand this year is a major puzzle. The primary drivers for demand -- economic growth, oil prices, and the weather -- are as uncertain as they have been for years. Add some geopolitical tensions to the brew and the...

Future of energy e-biz on the line.
January 7, 2002... After the internet boom turned to bust, it was the turn of the energy e-business sector to be taken for a wild ride in 2001. Several high-profile ventures shut down as funds dried up, many firms merged, and most oil companies decided to rethink...

Opec enters next phase of uneasy alliance.(Statistical Data Included)
January 7, 2002... Has Opec called it right this time? After a record seven meetings in 2001, Opec ministers, at least, are persuaded that their Dec. 28 outing to Cairo -- to approve pre-arranged cuts of 1.5 million barrels per day from Jan. 1 -- put a floor...

Majors key to fixing Africa's weak refining.(Statistical Data Included)
January 7, 2002... Far from the glare of global attention, the oil majors are quietly consolidating their grip on sub-Saharan Africa's downstream. With seven refineries having closed down over the past seven years, the majors hold the key to the future of the few...

Big oil raises its stake in power sector.(Statistical Data Included)
January 7, 2002... With little fanfare, the oil majors are steadily expanding their global reach to cover the entire energy matrix. Seizing the opportunities created by natural gas and power market liberalization, the diversification of the leading oil companies...

Brazil gets into hedging as others back out.(Statistical Data Included)
January 7, 2002... With prices of refined products to be deregulated in Brazil this month, watch out for an expanded hedging strategy from Petrobras, the state-controlled behemoth that is set on becoming a dynamic global player. As a net crude importer, Petrobras...

Corporate -- the BG takeover rumor is making the rounds again, with Royal Dutch/Shell in the frame as a potential suitor. (General).(Brief Article)
January 7, 2002... CORPORATE -- The BG takeover rumor is making the rounds again, with Royal Dutch/Shell in the frame as a potential suitor. BG shares in London have firmed steadily, by about 20 pence to 275-280 pence, in the weeks since Shell's Dec. 17 strategy...

Corporate -- in the same week that it gained access to Russian gas in a $3.7 billion privatization of the Czech gas sector, leading German power group RWE opened a trading office in Texas. (General).(Brief Article)(Statistical Data Included)
January 7, 2002... CORPORATE -- In the same week that it gained access to Russian gas in a $3.7 billion privatization of the Czech gas sector, leading German power group RWE opened a trading office in Texas (PIW Dec.24,p6). RWE Trading Managing Director Stefan...

Industry Restructuring -- US Marathon Oil began trading as a standalone company following final action by parent USX to separate the Marathon Group and the US Steel Group into two independent companies. (General).(Brief Article)(Statistical Data Included)
January 7, 2002... INDUSTRY RESTRUCTURING -- US Marathon Oil began trading as a standalone company following final action by parent USX to separate the Marathon Group and the US Steel Group into two independent companies. Analysts say the move will allow Marathon...

Algeria -- three firms are funding a feasibility study into a subsea natural gas pipeline from northeast Algeria to the Italian island of Sardinia. (Countries).(Brief Article)
January 7, 2002... ALGERIA -- Three firms are funding a feasibility study into a subsea natural gas pipeline from northeast Algeria to the Italian island of Sardinia. Algerian state Sonatrach will pay for half of the study's cost, with Italian power giant Enel...

Argentina -- Amid political and economic chaos, local investors poured money into dollar-denominated oil company equities last week in a bid to find a safe haven ahead of an impending devaluation -- just as credit ratings agencies slapped substantial down-grades on key companies. (Countries).(Brief Article)
January 7, 2002... ARGENTINA -- Amid political and economic chaos, local investors poured money into dollar-denominated oil company equities last week in a bid to find a safe haven ahead of an impending devaluation -- just as credit ratings agencies slapped...

Brazil -- State-controlled Petrobras achieved a new production record in late December, with output of 1.568 million b/d. (Countries).(Brief Article)(Company Profile)(Statistical Data Included)
January 7, 2002... BRAZIL -- State-controlled Petrobras achieved a new production record in late December, with output of 1.568 million b/d. The Marlim Sul field hit 78,000 b/d in only its 12th day of operation. One well, MLS-42, accounted for more than half of...

China -- A bruising battle between Beijing's two integrated oil giants to secure retail market share dented profits at Sinopec parent China Petrochemical Corp. (Sinopec). (Countries).(Brief Article)(Statistical Data Included)
January 7, 2002... CHINA -- A bruising battle between Beijing's two integrated oil giants to secure retail market share dented profits at Sinopec parent China Petrochemical Corp. (Sinopec). Profits of $1.5 billion for full-year 2001 were down some 32% on the...

Czech Republic -- A 62.99% stake in Czech oil and chemical giant Unipetrol has been awarded to Agrofert, a local agricultural-chemical group. (Countries).(Brief Article)(Statistical Data Included)
January 7, 2002... CZECH REPUBLIC -- A 62.99% stake in Czech oil and chemical giant Unipetrol has been awarded to Agrofert, a local agricultural-chemical group. Agrofert got the nod ahead of Hungary's MOL, its petrochemical affiliate TVK, and Austria's OMV, and...

Iraq -- Iraq has quietly given in to pressure from the US and the UK at the UN to submit bimonthly prices for crude oil exports with a US destination. (Countries).(Brief Article)
January 7, 2002... IRAQ -- Iraq has quietly given in to pressure from the US and the UK at the UN to submit bimonthly prices for crude oil exports with a US destination. Without explanation, Iraqi marketing arm Somo replaced its initial full-month December...

Italy -- Following months of talks, ENI expects soon to sell a 51% stake in its polyethylene and olefins company, Polimeri Europa, to Saudi state petrochemical giant Sabic, according to ENI. (Countries).(Brief Article)(Statistical Data Included)
January 7, 2002... ITALY -- Following months of talks, ENI expects soon to sell a 51% stake in its polyethylene and olefins company, Polimeri Europa, to Saudi state petrochemical giant Sabic, according to ENI. ENI will retain the remaining 49% stake in Polimeri,...

Mexico -- Mexico's exports of crude oil declined in November even as production rose, according to state Pemex. (Countries).(2001)(Brief Article)(Statistical Data Included)
January 7, 2002... MEXICO -- Mexico's exports of crude oil declined in November even as production rose, according to state Pemex. Oil exports fell by 3%, or 52,000 b/d, to 1.682 million b/d, after spiking to 1.734 million b/d in October. With the drop in price...

Nigeria -- as the Nigerian government comes under the Opec spotlight for its quota violations, Italian ENI started up its Nigerian Okono field this week in OML 119, with the commissioning of the Jamestown floating, production, storage, and offloading (FPSO) vessel. (Countries).(Brief Article)
January 7, 2002... NIGERIA -- As the Nigerian government comes under the Opec spotlight for its quota violations, Italian ENI started up its Nigerian Okono field this week in OML 119, with the commissioning of the Jamestown floating, production, storage, and...

RUSSIA -- as part of its major expansion into natural gas production, Russia's largest oil company, Lukoil, wants to build a $1.5 billion LNG plant in the Yamal peninsula in the Arctic. (Countries).(liquefied natural gas)(Brief Article)(Statistical Data Included)
January 7, 2002... RUSSIA -- As part of its major expansion into natural gas production, Russia's largest oil company, Lukoil, wants to build a $1.5 billion LNG plant in the Yamal peninsula in the Arctic. The scheme would also create a rare opening in Russia's...

United States -- two new US Gulf of Mexico developments were announced at the end of December and another discovery well was completed. (Countries).(oil exploration)(Brief Article)(Statistical Data Included)
January 7, 2002... UNITED STATES -- Two new US Gulf of Mexico developments were announced at the end of December and another discovery well was completed. BP is expanding compression capacity at its Amberjack platform on Mississippi Canyon Block 110 in the US...

Vietnam -- construction of Vietnam's first oil refinery moved a step closer after Russia approved a $250 million loan for the project. (Countries).(Brief Article)
January 7, 2002... VIETNAM -- Construction of Vietnam's first oil refinery moved a step closer after Russia approved a $250 million loan for the project. Vietnam is expected to contribute an identical amount to get construction underway on the $1.4 billon...

Not so cruel cuts. (Marketview).(Brief Article)(Industry Overview)
January 7, 2002... LONDON -- Crude oil prices are perking up a little but a sustainable rally will depend on how soon and by how much Opec and non-Opec producers can cut output. So far, it appears that only Saudi Arabia and Iran have managed to send out...

UNITED STATES -- Pressure on Enron mounted with five congressional committees, the Securities and Exchange Commission.(Brief Article)
January 7, 2002... UNITED STATES -- Pressure on Enron mounted with five congressional committees, the Securities and Exchange Commission, the departments of Labor and Justice, numerous agencies in multiple US states, and a federal grand jury in Houston...

PIW market indicators.(Petroleum Intelligence Weekly's report on crude oil prices, Nov. - Dec. 2001)(Brief Article)(Illustration)(Statistical Data Included)
January 7, 2002... PIW Market Indicators Last 2 Weeks 4 Weeks Spot Crude Week Ago Ago Opec Basket $18.85 $18.09 $16.84 UK Brent (Dated) 20.46...

Final demise of Enterprise? Not at ENI price.(Enterprise Oil)
January 14, 2002... Is the end in sight for Enterprise Oil? Someone is again stalking the last of the UK's big independents. Last week's revelation by Enterprise that it rebuffed a suitor, most probably Italy's ENI, late last year has dismayed shareholders. They...

Rising deepwater presence bouys Ocean's appeal.(Ocean Energy continues to grow)
January 14, 2002... US independent Ocean Energy made a shaky financial start when it re-launched three years ago after its merger with Seagull Energy. With the disastrous drop in oil and gas prices in 1999, Ocean's pre-merger accounting methods forced the new...

Petrobras growth on track, but not abroad.
January 14, 2002... Argentina's woes apart, its not all gloom and doom for Latin America's oil firms. Bolstered by a flood of good upstream news, Brazil's Petrobras has seen a remarkable rally in its stock price and has rebounded strongly from the disastrous...

Non-Opec gains offset Opec output cuts.
January 14, 2002... Paying little heed to soft demand, global oil supply kept on climbing last month, as non-Opec growth cancelled out a decline in Opec output. And the bulk of Opec's restraint was due a large drop in Iraqi production and exports, rather than the...

After Dolphin, Qatar tries to hook other fish.(Dolphin project to pump gas from Qatar to the UAE)
January 14, 2002... The steady progress of the Dolphin project to pump 2 billion cubic feet per day of Qatari gas to the UAE is boosting prospects that other schemes to export at least another 1.5 Bcf/d by pipeline will emerge from Qatar's giant North Field. Qatar...

Caspian search swings from South to North.(focus for oil exploration)
January 14, 2002... The focus for oil exploration in the Caspian Sea looks set for a paradigm shift in 2002. Exploration is migrating northwards, with Kazakstan, in particular, preparing for more activity on its continental shelf, lending credence to the currently...

Algeria twists between Opec, capacity goals.
January 14, 2002... Algeria is to attempt a feat this year that would challenge the most accomplished contortionist. It is pursuing a triple whammy: squeezing production down to the lowest level since 1989 while ramping up production capacity to 1.5 million...

Ocean Energy's Hackett touts deepwater success.(Interview)
January 14, 2002... The following interview with James Hackett, president and chief executive of Ocean Energy is part of a series of interviews and articles marking the 40th anniversary of PIW and the 50th anniversary of its sister publication Oil Daily. Since the...

E-commerce--last year was a good one for many energy trading exchanges, with volume gains late in the year attributable to the sudden closure of EuronOnline. (General).(better year for the IntercontinentalExchange)
January 14, 2002... E-COMMERCE--Last year was a good one for many energy trading exchanges, with volume gains late in the year attributable to the sudden closure of EuronOnline. The IntercontinentalExchange (ICE) became the top electronic exchange when Enron shut...

Formula prices--Saudi Arabia raised prices to the US and Europe for February crude deliveries, and for some crudes bound for Asia. (General).
January 14, 2002... FORMULA PRICES--Saudi Arabia raised prices to the US and Europe for February crude deliveries, and for some crudes bound for Asia. To the US, the discount to benchmark West Texas Intermediate (WTI) narrowed by a range of 50 cents/bbl for Arab...

Industry restructuring--Norwegian industrial group Norsk Hydro aims to sell businesses worth $1.12 billion by the end of 2003. (General).(Brief Article)
January 14, 2002... INDUSTRY RESTRUCTURING--Norwegian industrial group Norsk Hydro aims to sell businesses worth $1.12 billion by the end of 2003. Candidates include newly acquired aluminum unit VAW Flexible Packaging, the non-core petrochemicals unit, and the...

China -- Shanghai Futures Exchange plans to re-launch fuel oil contracts by June after a seven-year hiatus in a bid to reduce price volatility for fuel oil and petrochemicals. (Country).(Brief Article)
January 14, 2002... CHINA -- Shanghai Futures Exchange plans to re-launch fuel oil contracts by June after a seven-year hiatus in a bid to reduce price volatility for fuel oil and petrochemicals. Up to 55 local and joint venture companies now import and export...

China -- the Asian gas industry is betting that Royal Dutch/Shell has won the tender to build the 4,200 km West-East gas pipeline with China's giant PetroChina and Russia's Gazprom--though the outcome of the tender remains unconfirmed officially. (Country).(Brief Article)
January 14, 2002... CHINA -- The Asian gas industry is betting that Royal Dutch/Shell has won the tender to build the 4,200 km West-East gas pipeline with China's giant PetroChina and Russia's Gazprom--though the outcome of the tender remains unconfirmed...

Denmark -- Denmark appears to have set another new record for crude oil production in December, exceeding 400,000 b/d for the first time, based on data released by the Danish Underground Consortium (DUC) last week. (Country).(Brief Article)
January 14, 2002... DENMARK -- Denmark appears to have set another new record for crude oil production in December, exceeding 400,000 b/d for the first time, based on data released by the Danish Underground Consortium (DUC) last week. DUC, which operates 13 of...

East Timor -- a new tax agreement could come too late to save Phillips' struggling Bayu-Undan gas project offshore East Timor. (Country).
January 14, 2002... EAST TIMOR -- A new tax agreement could come too late to save Phillips' struggling Bayu-Undan gas project offshore East Timor. The UN-backed transitional government in East Timor has agreed new tax rules with Phillips for oil and gas production...

Egypt -- feeling the crunch from the drop in tourist revenues following the Sep. 11 attacks in the US, Egyptian Oil Minister Sameh Fahmy has taken the unusual step of asking producers of Egypt's natural gas to allow the government to defer payment for gas purchases for 12 months or take the option of gas swaps. (Country).(Brief Article)
January 14, 2002... EGYPT -- Feeling the crunch from the drop in tourist revenues following the Sep. 11 attacks in the US, Egyptian Oil Minister Sameh Fahmy has taken the unusual step of asking producers of Egypt's natural gas to allow the government to defer...

Iraq -- Baghdad wants to spend $350 million between now and June to shore up production in its ailing oil industry and another $250 million on its downstream sector. (Country).(Brief Article)
January 14, 2002... IRAQ -- Baghdad wants to spend $350 million between now and June to shore up production in its ailing oil industry and another $250 million on its downstream sector. The funding comes from Iraq's UN-controlled crude oil exports. But new spare...

Kazakstan -- crude production leapt by 19.6% in 2001 to a record 802,700 b/d as the opening of the 300,000 b/d pipeline to the Black Sea port of Novorossiysk operated by the Caspian Pipeline Consortium (CPC) created new export opportunities. (Country).(Brief Article)
January 14, 2002... KAZAKSTAN -- Crude production leapt by 19.6% in 2001 to a record 802,700 b/d as the opening of the 300,000 b/d pipeline to the Black Sea port of Novorossiysk operated by the Caspian Pipeline Consortium (CPC) created new export opportunities....

Nigeria -- loading schedules for January show that Nigeria has cut at least four cargoes compared to December, two each of Bonny Light and Qua Ibo, and more cuts are considered likely (EIG's Energy Intelligence Briefing,Jan.8). (Country).(Brief Article)
January 14, 2002... NIGERIA -- Loading schedules for January show that Nigeria has cut at least four cargoes compared to December, two each of Bonny Light and Qua Ibo, and more cuts are considered likely (EIG's Energy Intelligence Briefing, Jan. 8). In addition,...

Venezuela -- an Orimuision deal between state Petroleos de Venezuela (PDV) and the China National Petroleum Corp. (CNPC) has unwittingly provided opponents of the new hydrocarbons law with plenty of ammunition. (Country).(Brief Article)
January 14, 2002... VENEZUELA -- An Orimuision deal between state Petroleos de Venezuela (PDV) and the China National Petroleum Corp. (CNPC) has unwittingly provided opponents of the new hydrocarbons law with plenty of ammunition. To seal an accord to build a $300...

United States -- supermajor BP plans to reduce and refocus its efforts on Alaska's North Slope, which translates into job cuts and loss of momentum in Alaska's push for upstream development. (Country).(Brief Article)
January 14, 2002... UNITED STATES -- Supermajor BP plans to reduce and refocus its efforts on Alaska's North Slope, which translates into job cuts and loss of momentum in Alaska's push for upstream development. BP said it would cut 20% of its Anchorage-based...

Criminal probe adds to Enron's woes.
January 14, 2002... The charges and actions against Enron grow and grow, turning the once-giant trading company's headquarters complex in downtown Houston into a virtual fortress. The company already was the target of multiple US Congressional investigations and...

Signs of spring. (Marketview).(gas oil market may be on the rise)
January 14, 2002... NEW YORK -- Gas oil's winter malaise in the US has shown no sign of abating, and the forward spreads for both heating oil and gasoline futures at the New York Mercantile Exchange (Nymex) suggest that market attention could already be shifting...

Argentina--oil companies scrambled to head off government plans to tax oil and gas exports by offering a one-off payment of up to $1.4 billion instead.
January 14, 2002... ARGENTINA -- Oil companies scrambled to head off government plans to tax oil gas exports by offering a one-off payment of up to $1.4 billion instead. Royal Dutch/Shell, Repsol-YPF, Exxon Mobil, BP affiliate Pan American Energy, Total Fina Elf,...

PIW market indicators.
January 14, 2002... PIW Market Indicators Last 2 Weeks 4 Weeks Spot Crude Week Ago Ago Opec Basket $19.28 $18.76 $17.57 UK Brent (Dated) 20.68 20.58 18.55 UK...

Iran's new oil streams boost crude quality.
January 21, 2002... At last there is some good news for Iran's crude oil marketers, who have spent most of their time of late trimming term contracts to meet ever shrinking Opec quotas while adjusting to a new formula for their west of Suez sales. Output from...

Output surge is set to shatter Russian pledges.(to reduce exports)
January 21, 2002... Anybody hammering on a calculator to figure out whether Russia is really reducing its exports to appease Opec will have their work cut out for them. Not only has the base number for calculations changed several times already but Russia's major...

Chevron must digest Texaco acres in Africa.(Angola, Nigeria)
January 21, 2002... Chevron's acquisition of Texaco is posing a restructuring challenge for the newly combined company in key producing areas in West Africa. The task is to integrate much smaller, mature Texaco upstream assets with the far larger Chevron system....

Cheap buys, fat wallets spur M&A.(oil industry consolidation)
January 21, 2002... Based on the bargains to be had and the cash in hand to buy them, oil industry consolidation in North America and Europe this year should at least match the pace set in 2001. In North America, Burlington, Pioneer, Occidental, Marathon, and...

Terra Nova start raises hopes in Canada's East.(Petro-Canada)
January 21, 2002... Development of tar sands and heavy oils in Alberta and Saskatchewan is already well underway but Canada's future as an oil producer is about to get another boost from the frigid waters off Newfoundland and Nova Scotia. The imminent start up of...

Excess capacity puts Asian margins in bind.(refineries for sale, but no buyers are interested)
January 21, 2002... Major players in the United States and Europe have been selling refineries to reduce exposure to their worst margins for a decade, leaving more nimble independent operators to squeeze profits out of otherwise obsolete assets. In Asia it's not...

Bush energy plan faces 2002 hurdles.
January 21, 2002... When President Bush moved into the White House last January, he hawked an ambitious energy agenda and pledged to banish acrimony from political debate. One year on, US policy-makers are as polarized as ever and his energy proposals are proving...

Corporate--Italy's ENI has outlined new performance targets for 2005, and confirmed that it is closing in on existing goals set for 2003. (General).(Brief Article)
January 21, 2002... CORPORATE--Italy's ENI has outlined new performance targets for 2005, and confirmed that it is closing in on existing goals set for 2003. Oil and gas production stands at 1.494 million boe/d, against a 2003 target of 1.5 million boe/d, and is...

E-commerce--on the back of strong trading volumes, the IntercontinentalExchange (ICE) is ready to raise the ante in the electronic trading business. (General).(Brief Article)
January 21, 2002... E-COMMERCE--On the back of strong trading volumes, the IntercontinentalExchange (ICE) is ready to raise the ante in the electronic trading business. Two of ICE's top initiatives for this year are to offer clearing services for over-the-counter...

Enron--collapsed US energy firm Enron is handing over its once-dominant energy trading business, anchored by EnronOnline, to Swiss-owned investment bank UBS Warburg in exchange for a share in potential future profits of the operations. (General).(Brief Article)
January 21, 2002... ENRON -- Collapsed US energy firm Enron is handing over its once-dominant energy trading business, anchored by EnronOnline, to Swiss-owned investment bank UBS Warburg in exchange for a share in potential future profits of the operations. Around...

Industry restructuring--US independent producer Kerr-McGee is leaving Ecuador, after agreeing to sell its stake in two oil blocks and its 4% share in the embattled $1 billion OCP heavy crude oil pipeline to small French firm Perenco for an undisclosed amount (PIW Sep.24,p5). (General).(brief articles)(Brief Article)
January 21, 2002... INDUSTRY RESTRUCTURING--US independent producer Kerr-McGee is leaving Ecuador, after agreeing to sell its stake in two oil blocks and its 4% share in the embattled $1 billion OCP heavy crude oil pipeline to small French firm Perenco for an...

Tankers--the war in Afghanistan is drawing to a close, but war risk insurance charges for tankers are not expected to return to pre-Sep. 11 levels anytime soon, insurance brokers say. (General).(Brief Article)
January 21, 2002... TANKERS--The war in Afghanistan is drawing to a close, but war risk insurance charges for tankers are not expected to return to pre-Sep. 11 levels anytime soon, insurance brokers say. After the terrorist attacks, insurers upped the worldwide...

Algeria -- US Anadarko brought on a third, 75,000 b/d production train at its Hassi Berkine fields slightly ahead of schedule (PIW Jan.14,p5). (Country).(Brief Article)
January 21, 2002... ALGERIA -- US Anadarko brought on a third, 75,000 b/d production train at its Hassi Berkine fields slightly ahead of schedule (PIW Jan.14,p5). Plans are in hand for the fourth train to start up in the second quarter--ahead of an August...

Angola -- implementation of the pledge of modest output cuts to support Opec looks to be off for the moment with an unexpected early surge in output from the 200,000 b/d Girassoi field operated by Total Fina Elf. (Country).(Brief Article)
January 21, 2002... ANGOLA -- Implementation of the pledge of modest output cuts to support Opec looks to be off for the moment with an unexpected early surge in output from the 200,000 b/d Girassol field operated by Total Fina Elf. Girassol was due to hit...

Colombia -- it seems as though things can only get worse for crude output, which tumbled to 604,000 b/d last year from 687,100 b/d in 2000 and also missed state Ecopetrol's target for 2001 of 631,700 b/d. (Country).(Brief Article)
January 21, 2002... COLOMBIA -- It seems as though things can only get worse for crude output, which tumbled to 604,000 b/d last year from 687,100 b/d in 2000 and also missed state Ecopetrol's target for 2001 of 631,700 b/d. Compounding the impact on production of...

Ecuador -- construction of the heavy crude oil pipeline (OCP) in Ecuador has begun, but problems still plague the 450,000 b/d, $ 1.1 billion project, including environmental opposition that could reroute and delay--if not kill--the pipeline. (Country).(Brief Article)
January 21, 2002... ECUADOR -- Construction of the heavy crude oil pipeline (OCP) in Ecuador has begun, but problems still plague the 450,000 b/d, $ 1.1 billion project, including environmental opposition that could reroute and delay--if not kill--the pipeline. If...

Indonesia -- Jakarta's latest fuel price hike puts it back on the long road towards achieving the elusive goal of a deregulated products market, which could finally entice foreign oil firms to invest in Indonesia's downstream market. (Country).(Brief Article)
January 21, 2002... INDONESIA -- Jakarta's latest fuel price hike puts it back on the long road towards achieving the elusive goal of a deregulated products market, which could finally entice foreign oil firms to invest in Indonesia's downstream market. Domestic...

Indonesia -- Chinese upstream firm CNOOC is consolidating its international position by buying Repsol-YPF's key producing fields in Indonesia, allowing the Spanish firm to beat a retreat from a non-core area of operations. (Country).(Brief Article)
January 21, 2002... INDONESIA -- Chinese upstream firm CNOOC is consolidating its international position by buying Repsol-YPF's key producing fields in Indonesia, allowing the Spanish firm to beat a retreat from a non-core area of operations. CNOOC bought the...

Iran -- in what could be the first of several upstream deals, Statoil is to study ways to boost production from the onshore Ahwaz, Bibi Hakimeh, and Marun oil fields with state National Iranian Oil Co. (NIOC). (Country).(Brief Article)
January 21, 2002... IRAN -- In what could be the first of several upstream deals, Statoil is to study ways to boost production from the onshore Ahwaz, Bibi Hakimeh, and Marun oil fields with state National Iranian Oil Co. (NIOC). The three structures in the...

Iraq -- Asia's popularity as a destination for Iraqi crude is rising fast. (Country).(Brief Article)
January 21, 2002... IRAQ -- Asia's popularity as a destination for Iraqi crude is rising fast. In a typical month, one or two vessels go to the East, while in January at least six cargoes are scheduled for India, China, South Korea, and Taiwan. The US remains by...

Russia -- exports of oil products rose in Russia last year, boosted by crude output and refinery runs. Shipments abroad climbed 12% to 66.73 million metric tons in 2001 from 59.62 million tons in 2000. (Country).(Brief Article)
January 21, 2002... RUSSIA -- Exports of oil products rose in Russia last year, boosted by crude output and refinery runs. Shipments abroad climbed 12% to 66.73 million metric tons in 2001 from 59.62 million tons in 2000. Increased refinery runs mainly drove the...

Sudan -- state-owned Slavneft has become the first Russian company to sign an oil production agreement in Sudan, with a 25-year production sharing agreement (PSA) to develop Block 9 in the Khartoum province. (Country).(Brief Article)
January 21, 2002... SUDAN -- State-owned Slavneft has become the first Russian company to sign an oil production agreement in Sudan, with a 25-year production sharing agreement (PSA)to develop Block 9 in the Khartoum province. Slavneft said it would invest up to...

United States -- building a southern pipeline to bring natural gas from Alaska's North Slope to the lower-48 states along the Alaska Highway is a financial loser, according to one member of a producers' group studying the feasibility of the line. (Country).(Brief Article)
January 21, 2002... UNITED STATES -- Building a southern pipeline to bring natural gas from Alaska's North Slope to the lower-48 states along the Alaska Highway is a financial loser, according to one member of a producers' group studying the feasibility of the...

Argentina crisis impact ripples around the energy world. (What's New Around the World).
January 21, 2002... The 20 or so energy players with sizeable exposure to Argentina have no easy task trying to calculate the costs of the country's financial meltdown and its emergency reaction to the crisis. Some fiscal measures have been dropped almost as soon...

Asian agonies. (Marketview).(prices, demand low for petroleum products)
January 21, 2002... SINGAPORE -- Opec's New Year's production cuts and lower deliveries are starting to make an impression on the global market, but Asian refiners are not in the least concerned at having smaller volumes of crude oil to run. As crude prices...

North Sea -- UK independents Tuscan Energy and Acorn Oil & Gas are breathing new life into the Argyll field, the UK's oldest oil field, which was left for dead in 1992 by former operator Hamilton Oil.(Brief Article)
January 21, 2002... NORTH SEA -- UK independents Tuscan Energy and Acorn Oil & Gas are breathing new life into the Argyll field, the UK's oldest oil field, which was left for dead in 1992 by former operator Hamilton Oil. These UK minnows won government approval...

PIW market indicators.(crude oil prices, netback data)(Illustration)
January 21, 2002... PIW Market Indicators Last 2 Weeks 4 Weeks Spot Crude Week Ago Ago Opec Basket $17.90 $19.30 $18.09 UK Brent (Dated) 18.58...

PIW scorecard: mideast cashes in on B-wave.(Brief Article)(Statistical Data Included)
January 28, 2002... Using B-wave pricing as the market reference point for Middle East term contract crude oil formulas to Europe is definitely paying off for Saudi Arabia, Kuwait, and Iran. Not only does the link to Brent futures at London's International...

Oil industry profits hit the skids.(Brief Article)(Statistical Data Included)
January 28, 2002... Quarterly earnings for most oil companies have not been this low since third-quarter 1999 -- and executives and analysts do not expect them to improve any time soon. Due to the recent drop in oil and gas prices, financial reports, now being...

OPEC stressed by divergent price needs.(Organization for Petroleum Exporting Countries)(Brief Article)(Statistical Data Included)
January 28, 2002... What oil price does Opec really want -- or need? True, the jury is still out on whether Opecled production cuts implemented at the start of this year will succeed in propping up oil prices in the face of still weak global demand, a mild winter...

Chinese energy majors in long March upstream.(Brief Article)(Statistical Data Included)
January 28, 2002... While the supermajors jostle for elbowroom in China's promising domestic retail market, China's own energy giants are placing their bets elsewhere by investing heavily in international upstream acreage. And rather than following Japan's...

ENI growth strategy shines, returns lag.(Brief Article)(Statistical Data Included)
January 28, 2002... At ENI's recent strategy presentation, corporate management patted itself on the back for achieving nearly all the growth targets it had set for itself back in 1999. Judged against its peers, the Italian oil major has plenty to boast about....

Western oils cautiously relink with Russia.(Brief Article)
January 28, 2002... Gone are the days when Russia was flooded with Western oil firms looking for business opportunities. Those who remain belong to the international oil elite and vie for expansion, despite concerns about the volatility of the Russian oil...

IEA -- The International Energy Agency (IEA) suggests in its latest monthly report that production cuts by Opec and non-Opec have "the potential to put a floor under crude prices" and "set the stage for later price gains.".(Brief Article)(Statistical Data Included)
January 28, 2002... IEA -- The International Energy Agency (IEA) suggests in its latest monthly report that production cuts by Opec and non-Opec have "the potential to put a floor under crude prices" and "set the stage for later price gains." One result of the...