Energy Intelligence Briefing articles from May 2008

Energy Intelligence Briefing archives from May 2008

Iraq April oil loadings slip in south on power outages.
May 2, 2008... NEW YORK -- Iraqi April oil exports fell an estimated 125,000 barrels per day from March to 1.86 million b/d, as higher volumes from the north could not compensate for falling volumes in the Mideast Gulf. April sales from the south through the...

World oil demand still grows despite $120/bbl crude.
May 5, 2008... WASHINGTON -- Even though oil futures flirted with $120 per barrel in April, world oil demand managed to grow, if only by 0.8% on the year. The increase was solely the result of the growth in non-OECD countries. More and more cracks are showing...

BTC pipeline lifts Azeri exports to over 800,000 b/d.
May 6, 2008... LONDON -- Shipments of Azeri Light crude oil out of the Turkish Mediterranean port of Ceyhan are set to exceed 800,000 barrels per day for the first time in May, as barrels flow fast and furious through the Baku-Tbilisi-Ceyhan (BTC) pipeline...

Nigerian April output drops just below 1.8 million b/d.
May 7, 2008... LONDON -- After a strike, militant attacks and output disruptions, Nigeria's production appears to have averaged just under 1.8 million barrels per day in April--that's only 55% of the Nigerian government's stated total capacity of 3.2 million...

June Azeri Light loadings set to drop by 90,000 b/d.
May 13, 2008... LONDON -- Liftings of Azeri Light crude oil out of the Turkish Mediterranean port of Ceyhan are set to dip slightly to about 730,000 barrels per day in June, down 90,000 b/d on the month from May, according to a preliminary loading program. But...

OMI sees global oil markets sitting on a major cusp.
May 15, 2008... NEW YORK -- After plowing through price barrier after price barrier, oil markets are beginning to get a "toppy" feeling, with support from the physical side of the market showing some considerable fraying around the edges. Grade differentials...

Physical North sea traders dither while futures fly.
May 21, 2008... LONDON -- Crude oil futures continue to go from strength to strength, scattering records like confetti and ignoring any obstacle to the bullish stampede with apparent impunity. However, much of the support for higher prices comes from the back...

Russian exports flat as Moscow tussle grows hotter.
May 28, 2008... Transneft head Nikolai Tokarev said at a conference in Paris on Wednesday that the company has filed a complaint with Russia's Justice Ministry about the introduction of yearly export schedules, which earlier this year replaced the quarterly...

Market compass.
May 28, 2008... LONDON -- Front-month Brent futures continued to set new records over the past month, again in a volatile $22.40 trading range that had traders contemplating whether the market was forming a top. The latest record was set at $135.14 on May 22,...

Iraq May oil exports hit postwar peak Of 2 million b/d.
May 28, 2008... NEW YORK -- Iraqi oil sales hit record volumes and income in May. Foreign sales jumped to just above 2 million barrels per day for the first time since the US-led invasion of March 2003, while high oil prices lifted income to a tidy $7 billion...