Energy Intelligence Briefing articles from June 2004

Energy Intelligence Briefing archives from June 2004

Opec struggling to cool the red-hot rally.
June 1, 2004... BEIRUT -- As oil prices soared nearly $2.50 per barrel on US futures markets on Tuesday, Opec was working hard to douse the flames of the sizzling rally as ministers arrived in the Lebanese capital ahead of talks on Thursday. A move to pour...

Moscow draws ambitious export plans despite bottlenecks.
June 1, 2004... MOSCOW -- Moscow has ambitious plans for its summer crude exports, starting with a 110,000 barrel per day boost in June seaborne loadings over last month--and this could even be doubled with a supplementary export schedule rumored to be in the...

Newly appointed Iraqi oil minister outlines priorities.
June 1, 2004... LONDON -- Iraq's newly appointed interim oil minister, Thamer al-Ghadban, aims to restructure his ministry and the companies under its umbrella, and to launch a number of long delayed oil development projects, he told Energy Intelligence...

On eve of meeting, Opec promises more oil on the way.
June 2, 2004... BEIRUT -- Opec continued to drive home the message Wednesday that it is doing all it can to cool the oil market. On the eve of their critical meeting in Beirut on Jun. 3, Opec ministers were promising to deliver more oil but becoming less sure...

Opec sends mixed signals from Beirut.
June 3, 2004... BEIRUT -- Oil markets are in for a bumpy ride after Opec sent mixed signals from Beirut earlier today. Instead of an unequivocal pledge of more oil to chill prices that are steaming above $40 per barrel, Opec will raise its production ceiling...

Spring seasonal trends alone can't quench oil frenzy.
June 3, 2004... Will June be the month that things turn in the oil market? Saudi Arabia is taking dead aim on what it considers to be threateningly high oil prices with a major ramp up in exports, with promises of more if it is needed, in an attempt to tip the...

Iraq's southern pipeline hit again; exports in Limbo.
June 16, 2004... LONDON -- A wave of attacks that began on Iraq's oil infrastructure on Jun. 14 continued Wednesday, leaving oil exports from the south in limbo, while assailants in a separate incident assassinated the chief of security at the North Oil Co. in...

Sluggish West African loadings suggest sated market.
June 17, 2004... West African crudes are having a grim time, as spiraling differentials and last week's crash in futures prices hit sellers like a sledgehammer this week. As the US--West Africa's most important market--still looks bearish, some sellers are...

Oil market shows signs of mood swing as prices sag.
June 21, 2004... NEW YORK--The past month has witnessed a distinct mood change for oil markets. Geopolitical news has been even more disconcerting, if anything, but a certain "crisis fatigue" may have set in, stripping the latest news of its previous impact on...

Pipeline problems plague exports from Russia.
June 21, 2004... MOSCOW--Russia continues to struggle with problems in its pipeline system. Continued bottlenecks are forcing it to scale back crude exports, with an 18,000 barrel per day cut planned in the third quarter. Meanwhile, an explosion ripped through...

July North Sea loadings eclipsed by Norwegian strike.
June 21, 2004... North Sea loadings announcements for July have been made mostly irrelevant by what is looking like a significant strike in Norway competing with a generally bearish market psychology that has seen a substantial weakening in North Sea grade...

Moscow springs highest-ever export tariff on oil firms.
June 29, 2004... MOSCOW -- The Russian government is rubbing its hands in anticipation, as it prepares to grab an even bigger piece of the petrodollar pie by slapping record-high tariffs on crude exports. Crude exports by sea are set to remain flat in July from...