Energy Intelligence Briefing articles from September 2003

Energy Intelligence Briefing archives from September 2003

New Iraqi oil minister faces daunting challenges.
September 1, 2003... Iraq's US-appointed Governing Council appointed Monday Ibrahim Bahr al-Uloum, a 49-year old petroleum engineer who has spent the last 27 years in exile, as the country's first post-war oil minister. The son of Mohammad Bahr al-Uloum, a major...

W. African crude enjoys bullish run; for how long?
September 2, 2003... Sellers of West African crude have enjoyed a bullish run for light sweets during the past week or so, driven by the tight US gasoline market and soon-to-end driving season. For now the main question is whether differentials have peaked or can...

Iraq keeps up pace of Mina Al-Bakr exports in September.(Eye on Iraq)
September 3, 2003... The pace of Iraqi exports from the Mideast Gulf terminal of Mina al-Bakr for the full month of August averaged about 580,000 barrels per day, for a total of 18 million bbl in nine cargoes, according to reports compiled by Energy Intelligence...

US told to cede control to get money for Iraq.(Eye on Iraq)
September 5, 2003... A planned donor conference in Spain next month, which should raise billions of dollars from the international community to rebuild Iraq, is set to fail if the US remains unwilling to share control over how the money is spent, diplomats at the...

IOCs to have key role in restoring Iraqi output.(Eye On Iraq)
September 9, 2003... DUBAI -- International oil companies will have a central role to play in bringing Iraq's long-term production capacity to 6 million barrels per day, a senior Iraqi oil official said Tuesday. Thamer al-Ghadban, chief executive of the Iraqi Oil...

Is oil demand a bellwether for economic recovery?
September 9, 2003... Global oil demand increased by 1 million barrels per day, or 1.3%, to 77.7 million b/d in August relative to a year ago, according to preliminary estimates from Energy Intelligence's Oil Market Intelligence. For the first time this year, demand...

Iraqi pumps out the Basrah light--mostly to US.(Eye On Iraq)
September 10, 2003... NEW YORK -- The pace of Iraqi exports from the Mideast Gulf terminal of Mina al-Bakr this month is closing in on prewar levels of around 1 million barrels per day. As of Sep. 10, volumes have averaged about 860,000 b/d in three cargoes, all of...

US OKs plan to build first new LNG terminal in decades.
September 10, 2003... WASHINGTON -- Federal regulators on Wednesday granted final approval the first new liquefied natural gas (LNG) terminal in the US in the past 25 years, heralding the possibility of approval for an array of new LNG projects that have been...

France, Libya agree; UN sanctions vote set for Friday.
September 11, 2003... The final obstacle to a permanent lifting of United Nations sanctions against Libya was overcome Thursday, after France and Libya reached a deal on compensation for families of a 1989 airliner bombing. Paris said it had "no more opposition" to...

Russian exports threatened in squabble with Belarus.
September 15, 2003... MOSCOW -- In a last-ditch attempt to head off an energy war with Russia, Belarus President Alexander Lukashenko met Monday with his Russian counterpart, Vladimir Putin, at the Russian Black Sea resort town of Sochi, where Putin is on vacation....

North Sea average loadings down slightly for October.
September 15, 2003... LONDON -- North Sea loading programs for the eight principal UK and Norwegian crude oil systems total 98.76 million barrels, an increase of 2.02 million bbl, or 2.1%, against a September schedule of 96.74 million bbl (EIB Aug.19). However,...

Bush under pressure to recover cost through Iraqi oil.(Eye on Iraq)
September 15, 2003... WASHINGTON -- The Bush administration is seeking the latest installment of some $20 billion to rebuild Iraq, including $2.1 billion for the oil sector, but Congress--concerned that American taxpayers may end up footing the hefty bill--is...

Iraqi Oil Minister promises new Opec policy.(Eye on Iraq)(Oil Minister Ibrahim Bahr al-Uloum)
September 16, 2003... Iraq's newly-appointed Oil Minister Ibrahim Bahr al-Uloum said Tuesday he would head a delegation to Opec's Sep. 24 meeting in Vienna, promising a "new Iraqi policy" at the organization of oil exporting countries. Opec's invitation to Iraq,...

Sales of Iraqi Basrah Light on target, set to rise.(Eye on Iraq)(petroleum export statistics)
September 17, 2003... Iraqi exports out of the Mideast Gulf port of Mina al-Bakr have averaged about 900,000 barrels per day of Basrah Light so far this month and are likely to be sustained at that level until the end of the month, according to a senior Iraqi oil...

Opec: United on rollover, divided on Iraq.
September 22, 2003... VIENNA -- Heading into ministerial talks on Wednesday, Opec again finds itself facing a market conundrum: Crude prices have slumped some 20% in the past month amid rising Iraqi exports, but the producers' group does not dare announce sweeping...

Iraq unveils non-oil privatization; US names new adviser.(Eye on Iraq)
September 22, 2003... DUBAI -- As it tries to persuade the world's richest countries to donate billions of dollars for much-needed reconstruction, Iraq has unveiled a set of economic reforms that embrace full foreign ownership of most sectors of the economy--with...

Statoil Chief Executive quits as board split on probe.
September 23, 2003... Olav Fjell has bowed to two weeks of mounting pressure and resigned as chief executive of Norway's Statoil, making him the third executive casualty of a controversy surrounding the company's business practices in Iran. The controversy centers...

Iraq to invite foreign firms to develop fields.(Eye on Iraq)
September 24, 2003... VIENNA -- Aiming to boost crude oil output beyond the 2.8 million barrels per day Iraq expects to reach by March 2004, Baghdad will invite international oil companies to develop fields and will produce a list of projects soon, newly appointed...

Opec cuts production ceiling in pre-emptive strike.
September 24, 2003... VIENNA -- Opec took the oil world by surprise on Wednesday, pulling off an unusual pre-emptive strike by agreeing to slash its collective ceiling by 900,000 barrels per day to make room for recovering Iraqi output while thwarting a...

Modest Russian export boost threatened by port disputes.(Yuzhny Ukraine shipping dispute)
September 30, 2003... MOSCOW -- Russia has set out to boost crude exports by 35,000 barrels per day in the October port loading programs, compared with September, but some last minute bickering could scupper these gains and could even trim next month's loadings by...