Energy Intelligence Briefing articles from February 2004

Energy Intelligence Briefing archives from February 2004

Oil supply outpaces demand for third straight month.
February 5, 2004... As Opec ministers prepare to battle it out in Algiers next week over production quota compliance and allocation, the task of micromanaging prices is about to move to the forefront again. Early indications by Energy Intelligence Briefing sister...

Opec leaning toward quota rollover.
February 9, 2004... ALGIERS -- Opec appears to be leaning more firmly toward a simple rollover of its current quota at Tuesday's ministerial meeting. The oil producer group is still anxious about the risk of excess supply in the second quarter dragging down prices...

Opec preempts spring thaw with April cut.
February 10, 2004... ALGIERS -- Opec took oil markets by surprise on Tuesday when it agreed to cut its production ceiling by 1 million barrels per day to 23.5 million b/d effective Apr. 1 to combat an expected slump in spring demand. With oil prices well over...

Former Iraq oil minister slams US for mismanagement.
February 10, 2004... HOUSTON -- Former Iraqi oil minister Issam al-Chalabi charged Tuesday that the US-led occupation forces and the US Coalition Provisional Authority (CPA)--aided by units of Houston-based energy services company Halliburton--are continuing the...

West African sellers struggle in soft market.
February 11, 2004... LONDON -- Sellers of West African crude have been struggling with a bearish stretch for March loading cargoes, with the US market set with ample supplies of lighter sweets, and Asian buyers driving a hard bargain on heavier grades from Angola,...

Price bears sniffing March North Sea loadings gain.
February 13, 2004... The North Sea March loading programs for the eight principal Norwegian and UK crude oil systems total 105.49 million barrels, 8.86 million bbl--or 9.5%--higher than February. Although about 75% of this rise is attributable to March having two...

Oil market balances don't jive with inventories, prices.
February 19, 2004... The global oil market is in a bit of a muddle again, with supply-demand balances pointing in one direction and inventory data pointing in another. Physical market traders and Opec appear to be taking their cues from the supply-demand balances,...

Iraq's exports down on month ago at 1.273 million b/d.(Eye On Iraq)
February 23, 2004... Average daily oil exports from Iraq's Basrah Oil Terminal so far this month are down from last month at 1.273 million barrels per day, according to Energy Intelligence calculations based on tanker loadings. As of today, 19 vessels have sailed...

Investors look on as Putin fires government.
February 24, 2004... MOSCOW -- With fewer than three weeks before the presidential election, Russia's President Vladimir Putin on Tuesday sacked the cabinet of Prime Minister Mikhail Kasyanov. The move, unexpected by most, was officially explained as "a desire to...