energy and markets newsletter 0802611
TRANSCRIPT
8/3/2019 Energy and Markets Newsletter 0802611
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August 26,2011
Energy Data Highlights
Crude oil futures price8/24/2011: $85.16/bbldown$2.42 from week earlierup$13.53 from year earlier
Natural gas futures price8/24/2011: $3.922/mmBtudown$0.011 from week earlierdown$0.118 from year earlier
Weekly coal production8/20/2011: 20.787 million tonsup0.526 million tons from week earlierdown0.404 million tons from year earlier
Natural gas inventories8/19/2011: 2,906 Bcf up73 Bcf from week earlier
down140 Bcf from year earlier
Crude oil inventories8/19/2011: 351.8 mmbbldown2.2 mmbbl from week earlierdown6.5 mmbbl from year earlier
http://www.eia.gov/
Natural Gas/ Power News
Follow
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EIA Storage Release 8/25/11 (Actual): +73 Bcf Previous Week: +50 Bcf -4.6% Change from 1 Year Ago-1.9% Change 5-year Average
Power plant troubles go beyond heat and drought
A prolonged drought, looming environmental rules and shortcomings in theincentives for building new power plants could cause even more problems with
Texas’ electric grid in the next year.http://fuelfix.com/blog/2011/08/25/power-plant-troubles-go-beyond-heat-and-drought/
Northeast gas pipelines, LNG plants on hurricane watch for Irene
With a strengthening Hurricane Irene expected to bear down on the East Coast
during the weekend, several natural gas pipeline companies and LNG facilities in
the storm's path are cautiously waiting, but not yet taking any precautionary
actions.
http://www.platts.com/RSSFeedDetailedNews/RSSFeed/NaturalGas/6411323
UK power consumption in H1 down 2.7% year-on-year: DECC
UK final consumption of electricity fell 2.7% year-on-year in the first six months of
2011 as total electricity supplied over the same period declined 3.3%, the
Department of Energy and Climate Change said in its Energy Trends and Prices
publication Thursday.
http://www.platts.com/RSSFeedDetailedNews/RSSFeed/ElectricPower/8278122
Trafigura inks deal to use spare slots at UK's South Hook LNG
Global commodities trader Trafigura has qualified to access spare slots at the UK's
21 billion cubic meter/year South Hook LNG terminal, a spokesman for the
company told Platts Friday.
http://www.platts.com/RSSFeedDetailedNews/RSSFeed/NaturalGas/8278132
Christie proposes one-year moratorium on fracking
New Jersey Gov. Chris Christie proposed a one-year moratorium on “fracking”
Thursday, splitting the difference politically by conditionally vetoing a bill passedby the legislature that would have permanently banned the process
http://dailycaller.com/2011/08/25/christie-proposes-one-year-moratorium-on-
fracking/#ixzz1W8a8J5RV
Green/ Alternative Energy News
Brazil producers lower ethanol, boost sugar output on higher profits
Ethanol output in Brazil's main center-south production region from April 1
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through August 15 fell 19% to 12 billion liters compared to the same period in
2010 as poor quality crops and a lack of investment in sugarcane fields continued
to cramp productivity, sugarcane industry group UNICA said Thursday.
http://www.platts.com/RSSFeedDetailedNews/RSSFeed/Oil/6412105
US Interior approves transmission line for 250-MW solar project
A California-based solar energy developer has won US Department of the Interior
approval to build a five-mile transmission line across public lands to connect its
250-MW solar facility to the transmission grid, Interior Secretary Ken Salazar said
Thursday.
http://www.platts.com/RSSFeedDetailedNews/RSSFeed/ElectricPower/6412158
Brutal Year for Solar Causes Industry Shakeout
A brutal 2011 has left the solar industry dazed, damaged and on the cusp of a
major shakeout of weaker players that are more likely to shut down than be
snapped up by their stronger rivals
http://www.cnbc.com/id/44274496
US DOE to fund $41 mil in carbon capture development projects
The US Department of Energy on Thursday awarded $41 million to 16 projects
designed to develop cheaper and more efficient technology for capturing CO2
from power plant emissionshttp://www.platts.com/RSSFeedDetailedNews/RSSFeed/ElectricPower/6411432
GM, LG Strike Deal to Develop Electric Cars
General Motors and LG have struck a deal to jointly develop electric cars, a first-
of-its-kind alliance between the top U.S. automaker and a leading Korean
conglomerate that represents a major bet on battery technology
http://www.cnbc.com/id/44276661
Crude Oil News
OPEC Daily Basket Price 8/25/2011 –$107.61
(8/24/2011 – $106.53)
Recent Rig Counts
Area
Last
Count
Cou
nt
Change
from Prior
Count
Date of
Prior
Count
Change
from Last
Year
Date of Last
Year's
Count
U.S. 19 Aug 1974 +15 12 Aug 11 +323 13 Aug 10
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11
Canada 19 Aug11
486 +22 12 Aug 11 +107 13 Aug 10
International July2011 1150 -8 June 2011 +41 July 2010
http://investor.shareholder.com/bhi/rig_counts/rc_index.cfm
Oil rises as Hurricane Irene, Libya in focus
Oil rose on Thursday due to concerns about Hurricane Irene's impact on U.S. East
Coast fuel supplies and fighting in Libya.
http://www.reuters.com/article/2011/08/25/us-markets-oil-
idUSTRE77838320110825
Crude Oil Futures Rise on Speculation of More Stimulus, Hurricane
Threat
Crude oil increased on speculation Federal Reserve Chairman Ben S. Bernanke will
announce more stimulus and as Hurricane Irene threatened to shut refineries on
the U.S. East Coast
http://www.bloomberg.com/news/2011-08-25/crude-oil-rises-on-speculation-fed-to-
announce-plan-to-stimulate-economy.html
Oil Slips, Bernanke's Speech Eyed Oil prices inched down on Friday as investors looked ahead to a speech by theU.S. Federal Reserve chairman on the health of the world's largest economy andtop oil consumer.http://www.cnbc.com/id/44280980
Oil May Fall Next Week as Libya Rebels Move to Resume Output, Survey
Shows
Oil may fall next week as Libyan rebels consolidate their hold on the country after
deposing leader Muammar Qaddafi and begin taking steps to restore crude
exports, a Bloomberg News survey showed
http://www.bloomberg.com/news/2011-08-26/oil-may-fall-next-week-as-libya-
rebels-move-to-resume-output-survey-shows.html
Higher West African crude premiums push up Asia Pacific crude
Higher West African crude premiums boosted by China's demand, have shut the
arbitrage to Asia, with buyers now actively seeking Asia Pacific crudes to cover
their October requirements, trading sources said this week.
http://www.platts.com/RSSFeedDetailedNews/RSSFeed/Oil/8278109
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BP Macondo well may be leaking again The Coast Guard said late today it could not confirm reports by an Alabamanewspaper of oil billowing to the surface near the site where BP’s Macondo wellblew out last yearhttp://fuelfix.com/blog/2011/08/25/report-bp-macondo-well-may-be-leaking-again/
NYMEX RBOB settles 8.95 cents higher ahead of Irene's arrival NYMEX September RBOB settled 8.95 cents higher at $2.9679/gal Thursday,
boosted by fears of possible refinery disruptions along the Atlantic Coast as
Hurricane Irene approaches the US.
http://www.platts.com/RSSFeedDetailedNews/RSSFeed/Oil/6411381
NOAA Joins Forces With Big Oil To Share Ocean Data
NOAA, Shell , ConocoPhillips, and Statoil today signed an agreement to collaborate
on scientific ocean, coastal and climate data for the Arctic.
http://gcaptain.com/noaa-joins-forces?30012
Weather
Hurricane IRENE
http://www.nhc.noaa.gov/text/refresh/MIATCPAT4+shtml/261156.shtml
Irene Threatens East Coast With $13.9B in Damage
Hurricane Irene is forecast to turn north into the U.S. on a path similar to 1985’s
Hurricane Gloria, threatening as much as $13.9 billion in insured losses and
possibly forcing the evacuation of parts of New York City, officials and forecasters
said
http://www.bloomberg.com/news/2011-08-25/hurricane-irene-threatens-u-s-east-
coast-with-up-
to-13-9-billion-
damage.html
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6 to 10 Day
OutlooksTemperature
Precipitation
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8 to 14 day OutlooksTemperature
Precipitation
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