Energy Intelligence Briefing articles from July 2008

Energy Intelligence Briefing archives from July 2008

More refining, bad weather: Iraqi June sales tumble.
July 1, 2008... NEW YORK -- Iraqi oil exports dropped to an estimated 1.7 million barrels per day in June, down 300,000 b/d from May as bad weather in the south interrupted sales through the Basrah Oil Terminal in the Mideast Gulf. Although output from...

Doubts whether Saudi Arabia wants lower oil prices.
July 7, 2008... NEW YORK -- Saudi Arabia called an emergency oil price meeting in Jeddah for Jun. 22 to focus the world's attention on the economic and social pain of the oil price brushing $140 per barrel. The Saudis said the oil price was "undesirable" and...

North Sea starts light maintenance in volatile market.
July 18, 2008... LONDON -- The August schedules for the eight principal Norwegian and UK crude oil systems show a maintenance-related 273,000 barrel per day, or 12.3%, decline in production from 2.216 million b/d to 1.944 million b/d. Although maintenance is...

BTC August oil exports close in on 1 million b/d target.
July 24, 2008... LONDON -- Liftings of Azeri Light crude oil out of the Turkish Mediterranean port of Ceyhan are set to increase sharply in August to 908,000 barrels per day from 774,000 b/d in July as production from the BP-operated Azeri-Chirag-Guneshli (ACG)...

Security woes, soft demand threaten Nigerian sales.
July 25, 2008... LONDON -- Sellers of Nigerian crude face mixed prospects for September loaders amid rising concerns over security of supply, falling oil prices, rising freight costs and weak oil demand. This is especially the case in the US, where negative...

Iraqi July oil exports bounce back as weather clears.
July 29, 2008... NEW YORK -- Iraqi exports are expected to bounce back to 1.96 million barrels per day in July, 265,000 b/d more than June, as sailings in the south have recovered. July shipments from the Mideast Gulf Basrah Oil Terminal at 1.57 million b/d are...

Russian Sea crude oil exports drop to year-low level.
July 29, 2008... MOSCOW -- Russia is dramatically slashing seaborne oil exports in August, as producers look to keep more barrels at home to avoid a sharp hike in the country's export taxes that takes effect in August. Russian state crude oil pipeline monopoly...

Market compass.
July 29, 2008... Crude oil futures prices have crashed 18% over the past few weeks, with front-month Brent on ICE Futures tumbling from an all-time high of $147.50 per barrel on Jul. 11 to an intraday low of $120.88 on Tuesday. Falling demand in OECD countries...