Energy Intelligence Briefing articles from October 2003

Energy Intelligence Briefing archives from October 2003

Asia maintains impressive pull on West African crudes.
October 2, 2003... LONDON -- After a generally robust month that was underpinned by strong demand from Asia and the US East Coast, the outlook for November trading in West African crudes looks favorable. Asian appetite for the region's medium and heavier grades...

Rising tide or looming surplus: September's puzzle.
October 3, 2003... While Opec's bombshell at its Sep. 24 meeting suddenly raised the specter of higher prices and low inventories, preliminary September supply/demand fundamentals paint a very different picture. Even with Opec's Nov. 1 output cut of 900,000...

Lukman steps down, ending era for Opec, Nigeria.
October 8, 2003... Rilwanu Lukman, special oil adviser to Nigeria's President Olusegun Obasanjo and the face of Nigerian oil for nearly two decades, has resigned. His exit signals further shake-ups in sub-Saharan Africa's largest oil producer as the government...

Iraqi Basrah Light sees more exports, some spot sales.(Eye on Iraq)
October 8, 2003... London -- Iraqi state oil marketer Somo's initial insistence that its crude oil be sold only on the basis of term contracts to end-users would appear to be unraveling: A spot market in Basrah light is developing slowly. According to industry...

Somo pumps up export volumes, eyes spot sales.(Eye on Iraq)
October 14, 2003... Iraq's state oil marketing organization, Somo, is forging ahead with increasing its exports, targeting an average of 1.1 million barrels per day in October, 1.3 million b/d in November and December, and a hefty 1.5 million b/d in January....

Qatar to sign mega LNG, GTL deals with Exxon, Shell.
October 15, 2003... HOUSTON -- Natural gas commercialization efforts in tiny, gas-rich Qatar are progressing so quickly that observers need a scorecard to keep up with developments. The Mideast Gulf nation is scheduled to announce two major gas exploitation...

Iraqi loadings stay the course at Mina Al-Bakr.(Eye on Iraq)
October 16, 2003... NEW YORK -- Iraqi exports from the Mideast Gulf terminal of Mina al-Bakr have topped the 1 million barrel per day record reached earlier this month. As of Oct. 16, volumes averaged about 1.1 million b/d. A steady stream of vessels waiting to...

North Sea loadings also-ran to futures swings.(North Sea loading programs for November from 8 principal UK and Norwegian crude oil systems total 96.63 million barrels)
October 20, 2003... Although physical volumes in November North Sea loading schedules offered little to chew on, developments in crude oil futures markets on both sides of the Atlantic provided plenty of food for thought. North Sea loading programs for November...

Bullish sentiment defies loosening market balance.
October 20, 2003... The recent strength of world crude oil markets is a stark reminder that perception can often be more influential than "reality"--at least the reality as evidenced by the latest fundamentals data from Oil Market Intelligence. Global oil market...

Iraq prepares for stable oil output, winter demand.(Eye on Iraq)
October 21, 2003... With Iraqi oil production ahead of schedule--at more than 2 million barrels per day--a major challenge for the country's oil industry is now to produce enough kerosene to build stocks ahead of winter heating demand, and to get product pipelines...

Iraqi oil exports--and spot sales--holding steady.(Eye on Iraq)
October 22, 2003... Iraqi exports from the Mideast Gulf terminal of Mina al-Bakr are holding steady at 1.2 million barrels per day, the record level reached earlier this month. The pipeline explosion in northern Iraq last week--which looked likely to hamper...

Iraqi oil exports halted on weather delays.(Eye on Iraq)(Calendar)
October 29, 2003... NEW YORK -- Iraqi exports, which up until Saturday were holding strong at 1.3 million barrels per day, have been at a standstill for the past three days due to weather delays, local shipping agents say. Strong winds have prevented three fully...

Investors hold breath as prosecutors seize Yukos shares.
October 30, 2003... MOSCOW -- The General Prosecutor's Office seized a majority stake in Russian oil giant Yukos on Thursday, setting off alarm bells in the equities market as investors interpreted the act as a sign that privatization would be reconsidered and...

Russia boosts export capacity at Primorsk.(crude oil)(Baltic Pipeline System)(includes related article on the market)
October 31, 2003... MOSCOW -- Despite its internal political and legal battles, Russia is strengthening its role as the world's second-biggest crude exporter, ramping up capacity by another 255,000 barrels per day next month at the Baltic Sea port of Primorsk....