Energy Intelligence Briefing articles from January 2008

Energy Intelligence Briefing archives from January 2008

Global balances move into small deficit in December.
January 4, 2008... NEW YORK & WASHINGTON -- Global oil balances shifted in favor of demand in December, with the beginning of meaningful seasonal heating consumption in the Northern Hemisphere taking demand up a solid 2.1% above last year's abnormally warm...

Iraq's crude Oil exports jump to record in December.
January 8, 2008... NEW YORK -- Iraqi oil exports raced to a fresh high of 1.97 million barrels per day in December thanks to an uptick in sales from the northern Kirkuk fields, while rough weather in the Mideast Gulf barely dented sailings from the Basrah Oil...

Falling OECD commercial stocks support high prices.
January 18, 2008... WASHINGTON -- A primary factor behind the rapid rise in the oil price in the second half of the year was a sharp decline in OECD commercial inventories. They dropped 134 million barrels in the fourth quarter alone and helped US benchmark WTI to...

New Nigerian term oil contracts aim to end confusion.
January 24, 2008... LONDON -- Customers of Nigerian National Petroleum Corp. (NNPC) are readying for new term crude contracts and hoping for an orderly market after months of confusion. The new contract list--due during the next week or so--is expected to allocate...

Scathing taxes send Russian oil sales to fresh lows.
January 30, 2008... MOSCOW -- Faced with Moscow's scorching crude oil export taxes and range-bound global commodity prices, Russia's oil firms are turning their backs to exports, which will drop to one of the lowest levels seen in two years, according to finalized...

Market compass.
January 30, 2008... LONDON -- News of an almost 9% drop in seaborne Russian export volumes had the immediate effect of firming up already fairly strong Urals differentials in the spot markets. As the cuts were in Primorsk, prices naturally firmed more in NWE than...

Novorossiysk crude loading program February 2008.
January 30, 2008... Novorossiysk Crude Loading Program February 2008 Date Position holder (producer) Vol. * 1-2 Rosneft 145 5-6 Surgutneftegas 140...

Opec delegates signal no change in crude oil output.
January 30, 2008... VIENNA -- Opec ministers and other delegates arriving in Vienna on Wednesday for Friday's meeting were talking down expectations that the oil producers' group would increase output in an effort to bring down oil prices--if there were any hopes...

Opec President fears more economic woes lie ahead.
January 31, 2008... VIENNA -- Opec is not likely to either cut or raise production at its ministerial meeting today, the 13-member group's president said Thursday in a briefing with journalists. Economic uncertainties caused by the subprime lending crisis, the...