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Hi kmx_swing, I'm an oil & gas stock buff too. Which is your favorite play for short-term appreciation? TIA
VENEZUELA: PDVSA SUPPLIERS HIT BY DELAYS IN PAYMENTS
The companies that provide services to the state-owned oil company have not received any payment from Pdvsa in the last few months
Last week, Eudomario Carruyo, Pdvsa’s Finance director, admitted to foreign news agencies that the debt with oil service companies is important but, in his view, manageable (Photo: Jorge Santos)
Economy
Venezuela's state-run oil company Petróleos de Venezuela (Pdvsa) has delayed payments to suppliers of the oil industry and, therefore, such companies are asking banks for special payment plans to settle their financial difficulties and keep operations.
The companies that provide services to the state-owned oil company have not received any payment from Pdvsa in the last few months; as a result, suppliers have requested meetings with Pdvsa officials to find solutions, but they have not received any answer.
In view of the delays, the companies have requested meetings with banks to agree on the forms of payment of outstanding debts and on new financing schemes to continue operations until the oil industry pays its debts.
Last week, Eudomario Carruyo, Pdvsa's Finance director, admitted to foreign news agencies that the debt with oil service companies is important but, in his view, manageable. The Pdvsa board members said that the oil giant is having as hard a time as many other oil firms in a similar position around the world.
Goldman Sachs: Oil has potential to fall below $30
19 January 2009, 19:54
(Moscow, 19 January, Tatar-inform, Rafael Mukhametov). The cost US light crude could go below $30 a barrel, say analysts from Goldman Sachs, the bank that made the most optimistic price predictions, reports Reuters.
“Oil still has the potential to fall below $30,” told the agency Jeff Kurri, the head of the bank’s department researching the raw material market. “Goldman Sachs forecasts that the average price of oil will in the first quarter be $30 a barrel and will then restore to $65 a barrel in the fourth quarter.”
*A
RUSSIA LIKELY TO JOIN OPEC SOON, Pickens says
Reuters
Published: Monday, January 19, 2009
WASHINGTON -- Russia will likely become a member of OPEC soon, billionaire investor and alternative-energy advocate T. Boone Pickens said Monday.
That membership "will not be favourable to the United States," Mr. Pickens told a gathering of mayors.
Mr. Pickens is promoting increased investment in wind power and natural gas to reduce U.S. dependence on foreign oil imports.
At a press conference after his speech, Mr. Pickens said he has met twice with President-elect Barack Obama's transition team to promote his plan, which has won the support of 187 U.S. mayors.
Mr. Pickens began promoting his plan this summer, when crude prices peaked over US$147 per barrel and interest in alternative energy surged.
Since then, the price of oil has tumbled as demand in the United States and other big countries has slowed.
© Thomson Reuters 2009
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OIL MAY FALL TO $30 PER BARREL IN FIRST QUATER
By Syed Rashid Husain
RIYADH, Jan 17: A crisis is in the making. Panic is creeping in. With demand dropping faster, crude producers are on edge, endeavouring hard to somehow balance the markets. The very issue of demand security that Opec has been insisting all these turbulent years, seems so pertinent at this stage. Oil demand could fall even by 45 per cent, admits the otherwise ever smiling and pleasant Majid Al-Munif, the former Saudi governor at Opec.
In remarks given at a conference last week, he admitted the global financial crisis may cut oil demand by 23 per cent to 45 per cent.
And this is a major shift in sentiment. It was only in October last year that al-Munif was still positive in outlook, clearly stressing that the global oil demand (then) was not showing (any) signs of weakening amid the emerging financial crisis. “The ongoing financial crisis will not necessarily have a big impact on energy,” he had then said adding that its impact would be very limited.
Things have moved at a rapid pace over the intervening period. Global demand is shrinking rapidly. The last time world petroleum demand fell was in 1983. The past three months have been tough. World oil demand fell by 50,000 barrels per day in 2008, and it was expected to fall by another 450,000 bpd this year, the United States Energy Information Administration said in a report.
Deutsche Bank AG said last week that oil consumption will drop by one million barrels a day this year as the US, Europe and Japan face their first simultaneous recessions since the Second World War.
Goldman Sachs Group says, “Weak underlying economic fundamentals” will dominate the oil market, maintaining its forecast that oil will fall to $30 a barrel this quarter, its report dated Jan 9 said. Oil inventories in Organisation for Economic Cooperation and Development nations are also likely to rise to a 10-year high over the next two months, Goldman analysts said.
And after briefly rising, courtesy the ongoing crisis in Gaza, its possible spillover and the harsh winter in the Northern hemisphere, crude continued its downward march on real concerns that output cuts already announced by the Organisation of Petroleum Exporting Countries will fail to counter the slump in demand.
“It appears that Opec is making a concerted effort to cut output but it’s unclear whether this will be enough,” underlines Michael Lynch of Strategic Energy & Economic Research.
Interestingly, the markets seem no more interested in the fact that Opec was honouring its cut promises. Difficult times indeed require unusual steps and for a change Opec is keeping to its commitments. “The numbers coming out of Opec show that there is strong compliance,” admits Rick Mueller, of Energy Security Analysis Inc.
Saudi Arabia is taking the lead. Others are following too. Aramco sent notices last week to refiners in Asia that it would lower crude supplies to the region by about 10 per cent in February. This was the third straight month that Aramco has reduced sales.
February production would be “lower than the target,” Saudi oil Minister Ali al-Naimi asserts. “We are working hard to bring the market in balance. We will do what it takes to bring the market in balance.” And this is significant. And more could come. Opec oil producers are prepared for “further measures,” the cartel’s secretary general emphasised. “All in all, we will not know the full effect of the latest 2.2-million-barrel-a-day reduction, and the degree to which member countries have adhered to it, until Feb 15,” secretary general Abdalla Salem El-Badri said in an interview with Opec’s monthly bulletin.
He said that after Feb 15 the Opec secretariat would review the market and present its findings to an Opec conference in March. “If then the market is still over-supplied, the conference will not hesitate to take further measures to balance the market.”
And Opec seems determined. It has long been stressing that stable oil prices are essential to ensure long-term investment in the industry. Energy is a costly affair. If fair returns to the investments in this crucial industry are somehow not ensured, it would have a detrimental impact.
Already clouds are gathering over projects in various parts of the world. Even the search for alternative sources could get a big hit, most now agree. In the evolving scenario nothing could be taken for granted.
Eyes are focused on Opec’s resolve and ability to stem the tide. At stake now is its credibility.
RECESSION, RISING CRUDE STOCKS PUSH OIL DOWN
AP
NEW YORK: The lack of space to store burgeoning crude inventories pushed oil prices lower yesterday with yet another major energy group predicting demand will fall again this year in a widening recession.
In its closely watched monthly survey, the Paris-based International Energy Agency cited “the relentless worsening of global economic conditions” as it reduced its global demand expectations by 1 million barrels, to 85.3 million barrels a day.
It would mark the first time in more than a quarter century that global demand fell in consecutive years.
Light, sweet crude for March delivery fell 59 cents to $42.95 a barrel on the New York Mercantile Exchange. The February contract, which expires Tuesday, fell 58 cents to $34.82 a barrel, down from a high of $50.47 a barrel last week as dismal economic and corporate results stoked investor fears that a drop-off in crude demand may be greater than expected.
Industries have pulled back production rapidly, which has led to huge builds in US inventories of crude and natural gas.
The Federal Reserve said yesterday that industrial production plunged in December at twice the rate that analysts expected, with output falling 2 percent. The dismal showing underscored the heavy toll the housing, credit and financial crises are taking on the nation’s manufacturers.
Traders unable to get rid off crude are selling at a huge discount as storage facilities fill up with unwanted oil and gas, said analyst Stephen Schork. “With mills and plants being shuttered all over the country, that means there is a lot of gas that is not being consumed,” Schork said in a report. “That tells us all we need to know about how bearish industrial demand for gas currently is.”
The US Department of Energy and the Organization of Petroleum Exporting Counties (OPEC) this week also revised demand expectations downward for 2009.
Fall off in energy usage comes on the heels of unprecedented demand erosion in 2008.
US petroleum deliveries — a measure of demand — fell 6 percent to 19.4 million barrels a day last year, with declines for all major products made from crude, according to the American Petroleum Institute.
Plunging demand has grounded oil prices for the past several months, with investors ignoring promises by OPEC to slash 4.2 million barrels a day in crude production.
The wild card is oil producers outside OPEC — whether they increase output and if so, how much that will compensate for reduced supplies from OPEC nations.
http://arabnews.com/?page=6§ion=0&article=118233&d=17&m=1&y=2009&pix=business.jpg&category=Business
Venezuela Says $70 Oil Needed to Maintain Investments (Update2)
http://www.bloomberg.com/apps/news?pid=20601086&sid=awPO6FxhaDTM&refer=latin_america
By Jose Orozco and Steven Bodzin
Jan. 16 (Bloomberg) -- Oil prices need to rise to about $70 a barrel to sustain investments in fields and avoid shortages, Venezuelan Energy and Oil Minister Rafael Ramirez said.
Venezuela, the biggest oil exporter in the Americas, is discussing prices with other members of the Organization of Petroleum Exporting Countries, Ramirez said today in an interview in Machiques, Venezuela.
“We’ve spoken of a price band of $80 to $100 a barrel,” he said, declining to specify an immediate target. “The priority is to stabilize the market and avoid a cycle of disinvestment,” particularly in projects such as deep water and the Canadian tar sands.
Venezuela and other oil-exporting nations are facing falling revenue after crude plummeted 73 percent in the past six months. Oil for February delivery rose $1.11, or 3.1 percent, to $36.51 a barrel on the New York Mercantile Exchange.
Qatari Oil Minister Abdullah bin Hamad al-Attiyah said Jan. 14 that $70 was the right price for oil. Petroleo Brasileiro SA, Brazil’s state-controlled oil company, yesterday canceled two tenders for new oil platforms because suppliers were charging too much based on current economic conditions.
‘Evident Oversupply’
Venezuela would be open to an additional OPEC output reduction amid an “evident oversupply of oil” in the market, Ramirez said. The group’s 9 percent production cut on Jan. 1 will be felt “at the end of the month,” Ramirez told reporters ahead of a meeting between President Hugo Chavez and Brazilian President Luiz Inacio Lula da Silva.
OPEC trimmed 2.46 million barrels a day from its members’ production quotas at a Dec. 17 meeting. Ramirez said Chavez had mentioned a possible further cut of 2 million barrels a day.
Venezuela stopped shipments to oil refineries in Sweeney, Texas, and Chalmette, Louisiana, which it owns in joint ventures with ConocoPhillips and Exxon Mobil Corp., to meet the OPEC target, Ramirez said.
Petromonagas, the oil output and upgrading unit in eastern Venezuela that supplies the Chalmette facility, also reduced production by 90,000 barrels a day to comply with the quota, the Ministry of Energy and Oil said Jan. 7.
Both Conoco and Exxon have arbitration cases in process against Venezuela for unilateral contract changes that gave Venezuela operating control and majority stakes in joint ventures to pump oil for the refineries.
Ramirez didn’t rule out an emergency OPEC meeting, saying that there was always a possibility. “As soon as an extraordinary meeting is called, we’ll have it,” he said.
Chavez said today that oil prices would “improve soon,” without giving a more specific forecast.
To contact the reporters on this story: Steven Bodzin in Caracas at sbodzin@bloomberg.net; Jose Orozco in Machiques, Venezuela through the Caracas newsroomt .
Last Updated: January 16, 2009 16:25 EST
It Takes Two To Contango (C, BP, FRO)
January 09, 2009 | By Eugene Bukoveczky
People say oil and water don't mix, but when there's a so-called "contango" in oil markets, putting a whole lot of oil on water makes perfect sense.
Buy Today, Sell Today For Tomorrow
Right now the futures market for crude oil to be delivered in February 2010 is about 41% higher than the current, or spot, price - the price that one pays to get oil for immediate delivery. This huge price gap between spot and forward prices has prompted a number of players in the oil markets, including big banks like Citigroup (NYSE:C) and major producers like BP Plc (NYSE:BP), to enter into a forward transaction to profit from this situation.
The deal basically works like this: Buy a whole load of crude oil at current prices and then simultaneously sell it to the futures market for delivery at some date in the future, say one or more years out. The trick is to find a way to store all that crude at a cost that is less than the profit you lock through the forward transaction. That's what is known as the "carrying cost" when trading in futures markets. Usually forward prices incorporate an estimate of what this cost is, so there is an underlying economic rationale for forward prices to be higher than the spot prices. Hence a contango situation is generally the norm. (To learn more about the futures curve, be sure to read Contango Vs. Normal Backwardation.)
Tanker Operators Benefit From Upsurge In Charter Demand
With the oil markets in such an extreme contango, traders looking to lock in an arbitrage profit have given crude oil tanker operators a nice bit of new business; and they are more than happy to meet the demand. The world's largest tanker operator, Frontline (NYSE:FRO), has been reporting strong interest lately by companies wanting to charter vessels to stockpile crude. As reported in a recent telephone interview with Bloomberg, a company spokesman indicated that about 25 supertankers have already been hired to store crude, and indications were that another 10 vessels could be chartered for the same purpose. With each ship capable of storing about 20 million barrels, potentially another 200 million barrels could be parked in this fashion. That's roughly equal to about 10 days' consumption by the European Union. A total of 35 tankers put to this use would represent about 7% of the world's tanker fleet.
Drop In Crude Demand Continues To Pressure Tanker Charter Rates
The interest in chartering tankers for storage couldn't come at a better time for Frontline and other tanker operators like Overseas Shipholding Group (NYSE:OSG). With the global slump in energy demand, tanker charter rates have plunged 78%. Leading maritime business commentator Lloyd's List recently reported that crude oil production cutbacks by OPEC still threaten to put a damper on charter rates during the first half of 2009, a time when 34 new crude supertankers are expected to come into service. Citing various market analysts, Lloyd's reported that charter rates could drop another 20-25% in the fist half of 2009.
The Bottom Line
The upsurge in interest in leasing tankers for storage has thrown the tanker operators a much-needed lifeline at a time when they appeared to be dead in the water. This could be the time to get on board.
Be sure to check out our Futures Fundamentals Tutorial to learn more about trading in this complex market.
By Eugene Bukoveczky
Eugene Bukoveczky is a freelance writer and investment researcher. He holds a CFA designation and has spent several decades working in the investment business in places like Toronto, New York, London and Dubai. He currently resides in Nova Scotia, where, when not writing, he devotes his time to chopping wood, growing his own vegetables, riding his bike to the store, and thinking about other ways to reduce his carbon footprint. At the time of writing Eugene Bukoveczky did not own shares in any of the companies mentioned in this article.
http://community.investopedia.com/news/IA/2009/It-Takes-Two-To-Contango-C-BP-FRO0109.aspx
RussiaToday - Putin Interview on GAS transportation crisis
15th January, 2009
There are some that do not want to see Russia and Europe working together and have tried to bring up past phobias, says Russian Prime Minister Vladimir Putin who spoke with the German ARD channel a...
There are some that do not want to see Russia and Europe working together and have tried to bring up past phobias, says Russian Prime Minister Vladimir Putin who spoke with the German ARD channel and also discussed Ukraine's role in the current gas crisis.
Interviewer - Hubert Seipel, ARD political analyst
Costs of Crude Oil and Natural Gas Wells Drilled
http://tonto.eia.doe.gov/dnav/pet/pet_crd_wellcost_s1_a.htm
very interesting. The costs of drilling of average well almost doubled in only 5 years...
This is one of many reasons why I believe the price of oil cannot reach 25 dollars (in relations to price from nineties), and if, maximum for few days......
I agree with projects of US administration - 60 dollars average price in 2009...
IMO - Smart money are sucking now cheap shares of oil companies out of market...The same time they are issuing the "logic" arguments to create as many sellers as possible for their buys.... This will last 2-4 weeks more....Than they will start to announce the oil is sexy again.....
Oil industry needs investments to secure future productions. Investments can come only from profits. Oil industry is selling oil now with no profits...Only logic is - this will be changed.
Annual Energy Outlook 2009 (AEO2009)
by
U.S. ENERGY INFORMATION ADMINISTRATION
WASHINGTON DC 20585
FOR IMMEDIATE RELEASE
DECEMBER 17, 2008
Oil Prices: The assumption of a higher world oil price path in the AEO2009 reference case reflects tighter constraints on access to low cost oil supplies in a setting where the forces driving growth in long-term demand in non-OECD countries remains as strong as previously expected. In 2007 dollars, the world crude oil price, averaging near $60 in 2009, rises as the global economy rebounds and global demand once again grows more rapidly than non-OPEC liquids supply. In 2030, the average real price of crude oil is $130 per barrel in 2007 dollars ($189 per barrel in nominal dollars) (Figure 4).
http://www.eia.doe.gov/neic/press/press312.html
EFFECT OF PRODUCTION CUTS STILL TOO EARLY TO GAUGE -
El-Badri
Tuesday, 13 January 2009
( Interview with OPEC Secretary General , HE Abdalla Salem El-Badri, conducted by the OPEC Bulletin team in Vienna, Austria)
Despite OPEC’s December cut, oil prices are still falling. What can OPEC do to halt this?
Less than a month has passed since OPEC took this decision. And so I would say it is still too early to write off the possible effect that this could have on the oil market. As you may recall, when the OPEC Conference met in September 2008, we reviewed the situation in the market, which we found to be over-supplied; therefore, we took the decision to reduce production by 500,000 barrels a day. In October, we again reviewed the outlook and the market was still over-supplied. As a result, we decided to mop-up the excess crude in the market by reducing production by a further 1.5 mb/d. And, once more, at our most recent Conference in Oran in December, an additional decrease of 2.2 mb/d was agreed by Member Countries. This brought the total cut since early September to 4.2 mb/d. All in all, we will not know the full effect of the latest 2.2 mb/d reduction, and the degree to which Member Countries have adhered to it, until February 15.
However, from the data we have been receiving, there has been an almost 100 per cent compliance with the first two cuts, and this is a good sign. I hope that, come February 15, compliance with the 2.2 mb/d cut will also be seen to have been at a high percentage. We know already that all our Member Countries are adhering to the decisions. However, after February 15, the Secretariat will review the market carefully and will then present its findings to the next Conference in March. If then the market is still over-supplied, the Conference will not hesitate to take further measures to balance the market. But for now, it is still too early to say.
What can non-OPEC producers do in this regard to stabilize the market?
Non-OPEC producers, like Russia, Norway, Mexico and other small countries, can contribute by cutting supply to ensure that the market is not over-supplied — because if it is, then it will be in no one’s interest. This will only affect prices and future investment in both the upstream and the downstream. And it will lead to tight supply in the near future, causing high prices.
If this slide is not stopped, how will it affect the production and supply of crude oil in the medium- and long-term?
If the present situation does not change and we do not return to reasonable prices for oil products, the likely effects will be far-reaching. Very low prices will affect investments in both the upstream and downstream. This will have two main consequences. First, it will delay future investments in the sector, and second, it may also lead to the cancellation of further future investments. Either way, this will automatically affect oil supply to the market. In addition, it will also have an effect on gas supply.
http://www.opec.org/opecna/Latest%20Stories/ElBadriInt.asp
whole article
RIGZONE
Opinion: Why We'll See $200 Oil Soon
by David Kent, President, Rigzone
http://rigzone.com/news/article.asp?a_id=71745
MDR!!!
J. Ray Awarded Offshore Contract in Trinidad
HOUSTON--(BUSINESS WIRE)--McDermott International, Inc. (NYSE: MDR) (“McDermott”) announced today that its subsidiary, J. Ray McDermott, S.A. (“J. Ray”), has been awarded a contract by BHP Billiton (Trinidad-2C) Limited for the Angostura Gas Export Platform project located 22 miles offshore the northeast coast of Trinidad.
Under the terms of the agreement, J. Ray will fabricate a 4,000-ton integrated topside platform; an 800-ton, four-legged jacket; and 1,000 tons of piles. The construction of these structures will take place at J. Ray’s Morgan City, Louisiana fabrication facility.
“The award of the fabrication work for BHP is excellent news for our Morgan City fabrication facility,” said Bob Deason, President and Chief Executive Officer of J. Ray. “This project marks the third time in the recent past that Morgan City has performed the fabrication for facilities destined for Trinidad. Our customers depend on the quality and the schedule assurance that J. Ray delivers.”
At peak, J. Ray will have almost 200 people in Morgan City working on the project. Work is expected to be completed in second quarter 2010.
The Greater Angostura Development is located in block 2C offshore Trinidad and Tobago. BHP Billiton (Trinidad-2C) Limited operates several production platforms in the area in water depths ranging from 85 to 190 feet.
McDermott is an engineering and construction company, with specialty manufacturing and service capabilities, focused on energy infrastructure. McDermott’s customers are predominantly utilities and other power generators, major and national oil companies, and the United States Government. With its global operations, McDermott operates in over 20 countries with more than 25,000 employees, and can be found on the internet at www.mcdermott.com.
NOV!!!
JPMorgan cuts ratings, targets on oil services, shares down
01.14.09, 10:46 AM EST
NEW YORK, Jan 14 (Reuters) - JPMorgan lowered its ratings and trimmed price targets on a range of oil services and equipment companies, and the cuts dragged the Philadelphia Oil Service Index down 5.9 percent in morning trade on Wednesday.
The brokerage firm cut its price targets on Schlumberger Ltd (nyse: SLB - news - people ) to $55 from $60; on Smith International Inc (nyse: SII - news - people ) to $31 from $45; on Tenaris (nyse: TS - news - people ) to $33 from $40; on Weatherford International (nyse: WFT - news - people ) Ltd to $16 from $17; and on National Oilwell Varco Inc (nyse: NOV - news - people ) to $31 from $34.
XEC!!!
BRIEF: Judge orders energy company to pay $126M
Wed. January 14, 2009; Posted: 10:54 AM
Short Term Trading Strategies That Work – New Release by Larry Connors
TULSA, Jan 14, 2009 (The Oklahoman - McClatchy-Tribune Information Services via COMTEX)-- A Tulsa County district judge last week nearly doubled a jury award and ordered an energy company to pay Beckham County royalty owners more than $126 million in a lawsuit over uncompensated natural gas wells and lost profits.
Tulsa-based Helmerich & Payne was listed as the defendant in the lawsuit, but company officials said they believe Denver-based Cimarex Energy Co. will be responsible for paying damages. Cimarex assumed all assets and liabilities for Helmerich & Payne's exploration and production business when it was spun off from the company in 2002, they said.
The judgment will be appealed, Cimarex officials indicated.
A jury last November recommended that royalty owners be awarded about $68.5 million. However, Tulsa County District Judge P. Thomas Thornbrugh nearly doubled that award last week, indicating the jury had under-calculated the amount of interest and profits the energy company had made.
H. B. Krug, Kathryn Krug and Bobbie Ruth Eubanks were listed as plaintiffs in the lawsuit, which was filed in 1998.
For full details on Cimarex Energy Inc (XEC) click here. Cimarex Energy Inc (XEC) has Short Term PowerRatings of 5. Details on Cimarex Energy Inc (XEC) Short Term PowerRatings is available
TOT!!!
Total Purchases 50% Stake in AMSO
Partnership Will Develop Shale Oil in Western Colorado
NEWARK, N.J.--(BUSINESS WIRE)--Total (NYSE: TOT), the fifth largest international integrated oil and gas company, and IDT Corporation (NYSE: IDT; IDT.C) today announced that Total will acquire a 50% stake in IDT’s American Shale Oil, LLC (AMSO) subsidiary.
Under the terms of the agreement, Total and IDT will jointly develop a research and demonstration program to produce and commercialize shale oil utilizing a new in-situ technology on AMSO’s federal leasehold in western Colorado. Total will provide a majority of the funding during the research, development and demonstration (RD&D) phase of the project, and technical assistance throughout the life of the project. AMSO will continue to manage operations during the RD&D phase of the project. Total will assume management responsibilities during the subsequent commercial phase. The transaction is subject to customary closing conditions and is expected to close during the first quarter of this year.
AMSO is one of three holders of 10-year leases granted by the U.S. Bureau of Land Management to assess, test and demonstrate the potential for commercial shale oil production in western Colorado. Once AMSO has demonstrated that its technology is economically viable and environmentally acceptable, it will have the opportunity to expand its lease to 5,120 acres for commercial development. The rights covered by the commercial preference lease are estimated to contain multi billion barrels of recoverable shale oil.
“Our investment in AMSO furthers our commitment to developing unconventional hydrocarbons,” said Yves-Louis Darricarrère Total’s E&P President. “Given the magnitude of oil shale resources we believe that this project has an important long-term potential for global energy markets. AMSO has a strongly skilled technical team, as well as interesting original ideas. We look forward to working with them to develop sustainable and environmentally responsible extraction and processing technologies.”
“We are extremely pleased to partner with Total, one of the largest and most technologically sophisticated oil and gas companies in the world,” said Howard Jonas, IDT’s Chairman and AMSO’s Chairman and CEO. “Total complements our team’s technical capabilities with unparalleled expertise and depth in a variety of petroleum research and production disciplines. We particularly value their dedication to finding an approach to oil shale production that respects the unique environment of western Colorado.”
About Total
Total is one of the world’s major oil and gas groups, with activities in more than 130 countries. Its 96,000 employees put their expertise to work in every part of the industry – exploration and production of oil and natural gas, refining and marketing, gas & power and trading. Total is working to keep the world supplied with energy, both today and tomorrow. The Group is also a leading player in chemicals.
Total Research and Development
Total’s Research and Development Department constantly seeks to innovate in all processes that are linked to energy. Research is centered around four areas: knowledge of energies to optimize their development, reliability and energy efficiency of operations, product competitiveness and mastering environmental challenges. In 2008, Total invested one billion dollars in Research and Development, and employed more than 4,000 researchers working in 22 research centres worldwide. Total has also created over 600 partnerships with research organizations, universities and large industrial groups.
About AMSO
American Shale Oil, LLC (AMSO), (www.amso.net) a subsidiary of IDT Corporation (www.idt.net), is one of three companies holding a U.S. Bureau of Land Management oil shale research, development and demonstration lease of government-owned lands in the Piceance Basin in northwest Colorado.
AMSO’s mission is to develop its proprietary technology into a commercially viable and environmentally sound method of producing commercial quantities of shale oil by using in-situ extraction processes.
About IDT Corporation
IDT Corporation (www.idt.net) is a consumer-focused multinational holding company. IDT Corporation's Class B Common Stock and Common Stock trade on the New York Stock Exchange under the ticker symbols IDT and IDT.C, respectively.
REP!!!
Thomson Financial News
UPDATE 1-Oil firm Repsol rises on reported Sinopec interest
01.14.09, 07:59 AM EST
MADRID, Jan 14 (Reuters) - Spanish builder Sacyr Vallehermoso is in talks to sell its 20 percent stake in oil major Repsol YPF to China's Sinopec Corp , Cinco Dias reported on Wednesday.
Both Sacyr and Repsol declined to comment on the report which pushed shares in Repsol higher, despite a downgrade on the Spanish stock by investment bank UBS (nyse: UBS - news - people ) which has a downbeat outlook for the oil sector.
Yahoo! BuzzSacyr is looking to sell the stake to the Chinese oil giant at 26.7 euros per share, a near 70 percent premium to its market price and the same as offered to Russia's Lukoil in recent dead-end talks, the paper said.
State-owned Sinopec Group is the parent of Sinopec Corp.
Repsol's shares rose as much as 2.9 percent on Wednesday, before losing gains to trade 1.79 percent higher at 15.88 euros at 1100 GMT, compared to a 0.77 percent drop in the European oil and gas sector.
One analyst said any Sinopec buy of the stake would be the first large purchase of a foreign firm by the Chinese company.
'Sinopec is looking to boost its reserves, it is looking more for liquids than gas, but this would be the first time it takes on such a large stake in a foreign company,' said Boci Group's Lawrence Lau.
Comment On This Story
Two thirds of Repsol's falling production in the first nine months of 2008 was natural gas, but the company's crude production is expected to increase in the next few years thanks to its interests in deep sea oil fields off the coast of Brazil.
COP!!!
ConocoPhillips reports Alaska spill
Reuters
Published: Wednesday, January 14, 2009
A corroded pipeline ruptured on Christmas Day at ConocoPhillips' Kuparuk oilfield in Alaska, causing one of the biggest spills of oil-laced water on the North Slope, the Alaska Department of Environmental Conservation said Tuesday.
The 359,300-litre spill from a corroded water-injection pipeline had little effect on production from North America's second-biggest field and was mostly cleaned up by Tuesday, department officials said.
One well was shut in after the spill was discovered, said Ed Meggert, the Fairbanks-based on-scene spill response co-ordinator for the environment department.
The Kuparuk field can produce nearly 150,000 barrels of crude oil per day.
The Dec. 25 incident was reminiscent of a 757,000-litre crude oil spill at BP PLC's nearby Prudhoe Bay oilfield in 2006 -- the worst oil spill on Alaska's North Slope--which was also caused by corrosion of a pipeline.
Cleanup was largely accomplished by removingcontaminatedsnowandConoco-Phillips took the leaky pipeline out of service to replace it, said Paul Lhotka, an environmental program specialist with the environment department.
A ConocoPhillips official was not available to comment.
"It was lightly misted produced water and it was only on the surface, and it did not penetrate the snow cover," Lhotka said. Had the spilled material touched the tundra, it could have required a more complex cleanup, he said.
Salty produced water can be toxic to tundra plants and cause long-lasting environmental damage.
© The Calgary Herald 2009
BP!!!
U.S. stock market report [.N]
1029 ET 14Jan2009-
Obama stimulus could boost asphalt companies
------------------------------------------------------------------------------ The public works stimulus package proposed by President-elect Barack Obama
to help reverse the economic crisis could create a boon for asphalt demand in
the U.S., analysts said on Wednesday. The package, which is expected to include the largest investment in
government roads since the creation of the Interstate highway system in the
1950's, would mean a huge turnaround for the paving material, as governments,
the biggest buyers of the oil-derived material, tried to save costs by
deferring road projects. [ID:nN13418970] Such a boon would benefit major asphalt companies, including Alon USA
Energy (ALJ.N), Western Refining (WNR.N) and BP Plc (BP.N)
BP!!!
BP and Russia Bury the Hatchet
Who said that the people overseeing Russia's oil interests aren't capable of getting along with energy folks in the rest of the world?
by David Lee Smith
Published on January 14, 2009 - 0 comments
While giant natural gas producer Gazprom (OTC BB: OGZPY) continues to tussle with Ukraine, the powers that be at TNK-BP, a big and contentious partnership between BP (NYSE: BP) and a trio of Russian billionaires, appear to have reconciled after a year of major squabbling. That's one key reason why I believe Foolish energy investors should pay renewed attention to BP.
The joint venture, founded in 2003, sailed along nicely until last year. Then the Russian partners began pushing for the ouster of Robert Dudley, the partnership's BP-appointed CEO, among other things. Indeed, at midyear, Dudley was forced to exit Russia and run the company from an unspecified location in central Europe.
At the time, it looked as if Russian pressure might ultimately force BP to sell its partnership interests, perhaps to Gazprom, probably at a bargain-basement price. The British company would have taken a hit in doing so. The partnership represented about a quarter of BP's global production and a fifth of its reserves.
But one morning early in September, we awakened to discover that the parties astoundingly had buried their hatchets. And as last week came to a close, the deal was ultimately finalized. I won't go into the details of the settlement, because they'd bore you silly. All you need to know for now is that an equally divided board will be elected shortly, a new CEO with Russian language facility will be named, and at some point, as much as 20% of the partnership will be sold through an IPO. Beyond that, what has become Russia's third-largest oil company will continue its growing operations
BP therefore has come out far better than Royal Dutch Shell (NYSE: RDS-A), which was forced to sell most of its interest in a Sakhalin Island project a couple of years ago. Even ExxonMobil (NYSE: XOM) has had its ups and downs with its Russian hosts on Sakhalin. And we can only hope that France's Total (NYSE: TOT), which also is active in Russia, remains unscathed.
The real key for Fools, however, is that BP has now overcome recent difficulties in its own CEO suite and moved past a deadly Texas refinery explosion, an Alaskan oil pipeline leak, and the Russian partnership turmoil. This company on the rise also happens to offer a more than 7% dividend yield. In short, BP is a member of Big Oil that Fools should watch very, very closely.
ATPG !
Each share of ATP represents ownership in
7.0 barrels of oil equivalent
ATPG !!! PRESENTATION IS OUT!!!!!
Since 11/26/08 ATP has been receiving $1MM / day in production revenue
and/or business interruption insurance.
http://library.corporate-ir.net/library/12/123/123846/items/320228/8E7DF78F-D526-42A0-9A8B-F1097165F0B4_ATPG_Pritchard_011209_FINAL.pdf
P
yes, they go up as predicted....cool...
For Bahrain and Oman the breakeven prices are 40 dollars/barell...
I simply do not believe that the price of oil can go longterm much lower...
But Kuwait can make it for 17.... :))
that would be nice :))
but the charts of oil OG companies look like they have made the downtrade correction and since tomorrow will go up...
What I do not understand is "sell" recommendation on Repsol.
I hope atpg sinks all the way to $3 a share so I can buy a whole lot of shares by july it will probably be at 30 plus a share
I studied these oil&gas companies and yes, I have decided I like ATPG a lot. The long term debt would be lower but potential of this company is enormous.
I am in large for ATPG too. I like the company and the buying back of stock that they are implementing and the pay down of debt after selling assests. I don't see this going much lower from here and I will likely buy some more this week. I own this in the low 5's and see 10 bucks wih just a little effort. Waiting, Joe
Sound logic going forward in the oil stocks. I think there is room for some of the oil stocks to still move up on the infrastructure play of Obama's. I think oil speculators will run oil back pretty quick. There is a lot of money at stake and as for demand, it will diminish but not as much as people think. For various reasons, cold winter in effect, cheap gas will increase the use of gas and stimulate demand. Also the amount of oil available is still quite finite and will always be a reason for the speculators to play this group. Anyway you look at it oil stocks have some serious volatility going forward but sooner or later some of the oil stocks will be really attractive. I still like ATPG and think they will survive and do well. GLTY,
Joe
the question is what will happen in the next weeks and months.
Oil is now very low because:
1) dollar is stronger
2) economy worldwide is collapsing and the demand is tumbling.
the problem I see here is that the collapsing process is still just starting. So the demand for oil will be much less in next months I guess.
Opposite to this dollar will fall down, as the US authotrities will start to print money in huge amount. Sooner or later. And all the dollars in japan and China are also considered to be fired from national treasuries.
So oil can be the protection of your money. But will companies producing oil survive, if the demand of oil is too low for longer period? (many months) Therefore I believe at least smaller O&G companies are in iminent danger of bankcrupcy.
And for recovery of global economy it is essential to keep oil prices as low as possible as oil and its derivates are used everywhere by any industry.
So I have the mixed feelings about the timing of investment into oil.
Oil is much safer than dollar, that is plus. But the demand for oil will be still downgraded...and that is minus.
atpg is my number one stock play because of its price and potential for a big run beginning next month. I hope it dopes really low in these next few weeks so I can atleast put 30k in it and sit back and relax the next 5 months
Glad to see ATPG on your list. I really like ATPG's potential over the next few months to a year. I own 1000 shares and plan on buying more on this recent dip. I like the company and the fact they are buying back shares and selling some assests. Overall it rates an A- and should run ahead of oil prices which will eventually move back up to the 60 to 70 dollar range this year. I will start looking at your other oil stocks. Thanks and good luck, Joe
new companies added
Production companies:
ATPG, BEXP, BP, CHK, COP, CVX, CXPO, E, GEOI, OXY, PVA, REP, RDS-B, TOT, XOM, APC
Servicing companies:
GLBL, HLX, NOV, MDR
hi kmx_swing, nice list of oil/energy stocks. charts are interesting.
thanx for your hard work.
OIL and GAS sector including basic data (yahoo.finance), 2 years and 3 months charts
AXAS,, BP, CHK, COP, CVX, CXPO, E, GEOI, GSX, KWK, OXY, PVA, RDS-B, TOT, XEC, XOM, APC
GLBL, HLX, NOV, MDR, YPF
CRUDE OIL CHART CRUDE OIL CHART 24 hours
http://markets.hpcwire.com/s?Page=CHART&Ticker=%24OIL http://www.livecharts.co.uk/MarketCharts/crude.php/
NATURAL GAS CHART NATURAL GAS CHART 10 minutes
http://www.livecharts.co.uk/LongTerm/natural_gas_chart.php http://www.oilngold.com/data/charts/nymex-natural-gas-charts-200808191156/
FUTURES
http://futures.tradingcharts.com/marketquotes/index.php3?market=CL
ATP Oil & Gas Corporation (NasdaqGS: ATPG) ......151.8 ( 8.77)
Full Time Employees: 64 / 63
Shares Outstanding5: 35.90M / 36.02M
Diluted EPS (ttm): 2.39 / 3.39
Operating Cash Flow (ttm): 344.98M / 546.97M
Revenue (ttm): 741.18M / 584.82M
Total Debt: 1.37B
Assets - Liabilities (without goodwill): 316M
Based on last quater 30-Sep-08 / 31-Dec-08
Abraxas Petroleum Corp. (NasdaqCM: AXAS) ...11,04
Full Time Employees: 61
Shares Outstanding5: 49.26M
Diluted EPS (ttm): 0.03
Operating Cash Flow (ttm): 54.41M
Revenue (ttm): 97.91M
Assets: 147.1M
Based on last quater 30-Sep-08
AXAS (6) http://investorshub.advfn.com/boards/board.aspx?board_id=4464 acquisition, development, exploration, and production of crude oil and natural gas primarily along the Texas Gulf Coast, in the Permian Basin of western Texas, and in Wyoming. YAHOO http://messages.finance.yahoo.com/mb/AXAS INSTIT http://thebuylist.com/default.aspx?Stock=axas
BP AMOCO PLC(NYSE: BP) ...117,85
Full Time Employees: 97,600
Shares Outstanding5: 3.12B
Diluted EPS (ttm): 9.08
Operating Cash Flow (ttm): 36.77B
Revenue (ttm): 379.52B
Assets(without goodwill): 225B
Based on last quater 30-Sep-08
BP (0) http://investorshub.advfn.com/boards/board.aspx?board_id=9930 YAHOO http://messages.finance.yahoo.com/mb/BP INSTIT http://thebuylist.com/default.aspx?Stock=BP
CHESAPEAKE ENERGY CP(NYSE: CHK) ...97,5
Full Time Employees: 6,200
Shares Outstanding5: 600.95M
Diluted EPS (ttm): 3.18
Operating Cash Flow (ttm): 5.85B
Revenue (ttm): 10.74B
Assets: 40B
Based on last quater 30-Sep-08
CHK(29)http://investorshub.advfn.com/boards/board.aspx?board_id=7922 YAHOO http://messages.finance.yahoo.com/mb/CHK INSTIT http://thebuylist.com/default.aspx?Stock=chk
CONOCOPHILLIPS (NYSE: COP) ...177,58
Full Time Employees: 32,600
Shares Outstanding5: 1.49B
Diluted EPS (ttm): 12.20
Operating Cash Flow (ttm): 26.46B
Revenue (ttm): 232.98B
Assets(without goodwill): 148.5B
Based on last quater 30-Sep-08
COP (7) http://investorshub.advfn.com/boards/board.aspx?board_id=4747 COP http://messages.finance.yahoo.com/mb/COP INST http://thebuylist.com/default.aspx?Stock=COP
Chevron Corp. (NYSE: CVX) ...155,22
Full Time Employees: 65,000
Shares Outstanding5: 2.03B
Diluted EPS (ttm): 11.53
Operating Cash Flow (ttm): 31.51B
Revenue (ttm): 271.59B
Assets(without goodwill): 144.1B
Based on last quater 30-Sep-08
CVX (4) http://investorshub.advfn.com/boards/board.aspx?board_id=6510 YAHOO http://messages.finance.yahoo.com/mb/CVX INSTIT http://thebuylist.com/default.aspx?Stock=CVX
Crimson Exploration Inc. (OTC BB: CXPO.OB) ...207,79
Full Time Employees: 67
Shares Outstanding5: 5.80M
Diluted EPS (ttm): 2.24
Operating Cash Flow (ttm): 120.52M
Revenue (ttm): 191.09M
Assets(without goodwill): 398M
Based on last quater 30-Sep-08
CXPO (11) http://investorshub.advfn.com/boards/board.aspx?board_id=9219 acquisition, development, exploitation, and production of crude oil and natural gas, primarily in the onshore producing regions of the United States YAHOO http://messages.finance.yahoo.com/mb/CXPO.OB INSTIT http://thebuylist.com/default.aspx?Stock=CXPO
ENI SpA (NYSE: E) ...x
Full Time Employees: 75,862
Shares Outstanding5: 727.14M
Diluted EPS (ttm): N/A
Operating Cash Flow (ttm): N/A
Revenue (ttm): N/A
Assets(without goodwill): 146.30B
Based on last quater 30-Sep-08
E (1) http://investorshub.advfn.com/boards/board.aspx?board_id=10853 YAHOO http://messages.finance.yahoo.com/mb/E INSTIT http://thebuylist.com/default.aspx?Stock=E
Gasco Energy Inc. (AMEX:GSX) ...1,97
Full Time Employees: 34
Shares Outstanding5: 107.78M
Diluted EPS (ttm): 0.12
Operating Cash Flow (ttm): 21.34M
Revenue (ttm): 40.99M
Assets(without goodwill): 122.5M
Based on last quater 30-Sep-08
GSX (13) http://investorshub.advfn.com/boards/board.aspx?board_id=4555natural gas and petroleum exploitation, development, and production company
YAHOO http://messages.finance.yahoo.com/mb/GSX INSTIT http://thebuylist.com/default.aspx?Stock=gsx
Quicksilver Resources Inc. (NYSE:KWK) ...19,86
Full Time Employees: 496
Shares Outstanding5: 166.87M
Diluted EPS (ttm): 2.87
Operating Cash Flow (ttm): 331.52M
Revenue (ttm): 740.86M
Assets(without goodwill): 2.77B
Based on last quater 30-Sep-08
KWK (3) http://investorshub.advfn.com/boards/board.aspx?board_id=10769 acquisition, exploitation, exploration, development, production, and sale of natural gas, natural gas liquids (NGLs), and crude oil in North America YAHOO http://messages.finance.yahoo.com/mb/KWK INSTIT http://thebuylist.com/default.aspx?Stock=kwk
Occidental Petroleum Corporation . (NYSE:OXY) ...131,14
Full Time Employees: 9,700
Shares Outstanding5: 809.88M
Diluted EPS (ttm): 9.52
Operating Cash Flow (ttm): 10.61B
Revenue (ttm): 25.71B
Assets(without goodwill): 36.59B
Based on last quater 30-Sep-08
OXY (0) http://investorshub.advfn.com/boards/board.aspx?board_id=4274 international oil and gas exploration and production company with operations in the United States, the Middle East/north Africa, and Latin America OXY http://messages.finance.yahoo.com/mb/OXY INSTIT http://thebuylist.com/default.aspx?Stock=oxy
Penn Virginia Corp. (NYSE:PVA) ...90,99
Full Time Employees: 314
Shares Outstanding5: 41.84M
Diluted EPS (ttm): 3.12
Operating Cash Flow (ttm): 380.74M
Revenue (ttm): 1.20B
Assets(without goodwill): 2.244B
Based on last quater 30-Sep-08
PVA (0) http://investorshub.advfn.com/boards/board.aspx?board_id=11643 exploration, development, and production of natural gas and oil in various onshore U.S. regions, including East Texas, the Mid-Continent, Appalachia, Mississippi, and the Gulf Coast. YAHOO http://messages.finance.yahoo.com/mb/PVA INSTIT http://thebuylist.com/default.aspx?Stock=pva
Royal Dutch Shell plc (NYSE: RDS/B) ...124,34
Full Time Employees: 104,000
Shares Outstanding5: 3.13B
Diluted EPS (ttm): 12.11
Operating Cash Flow (ttm): 38.92B
Revenue (ttm): 483.99B
Assets(without goodwill):
Based on last quater 30-Sep-08
RDS-B (1) http://investorshub.advfn.com/boards/board.aspx?board_id=12182 YAHOO http://messages.finance.yahoo.com/mb/RDS-B INSTIT
TOTAL S.A. (NYSE: TOT) ...x
Full Time Employees: 96,442
Shares Outstanding5: 2.23B
Diluted EPS (ttm): N/A
Operating Cash Flow (ttm): N/A
Revenue (ttm): N/A
Assets(without goodwill): 165,7B
Based on last quater 30-Sep-08
TOT (0) http://investorshub.advfn.com/boards/board.aspx?board_id=6508 YAHOO http://messages.finance.yahoo.com/mb/TOT INSTIT http://thebuylist.com/default.aspx?Stock=tot
Cimarex Energy Co. (NYSE: XEC) ...117,99
Full Time Employees: 760
Shares Outstanding5: 83.27M
Diluted EPS (ttm): 3.27
Operating Cash Flow (ttm): 1.44B
Revenue (ttm): 2.11B
Assets(without goodwill): 4.65B
Based on last quater 30-Sep-08
XOM (16) http://investorshub.advfn.com/boards/board.aspx?board_id=3675 YAHOO http://messages.finance.yahoo.com/mb/XEC INSTIT http://thebuylist.com/default.aspx?Stock=xec
Exxon Mobil Corp. (NYSE: XOM) ...117,99
Full Time Employees: 107,100
Shares Outstanding5: 5.09B
Diluted EPS (ttm): 9.24
Operating Cash Flow (ttm): 60.58B
Revenue (ttm): 464.01B
Assets(without goodwill): 242B
Based on last quater 30-Sep-08
XOM (16) http://investorshub.advfn.com/boards/board.aspx?board_id=3675 XOM http://messages.finance.yahoo.com/mb/XOM INSTIT http://thebuylist.com/default.aspx?Stock=xom
Anadarko Petroleum Corp. (NYSE: APC) ...149,89
Full Time Employees: 4,000
Shares Outstanding5: 459.04M
Diluted EPS (ttm): 5.82
Operating Cash Flow (ttm): 6.88B
Revenue (ttm): 14.50B
Assets(without goodwill): 43.5B
Based on last quater 30-Sep-08
APC (3) http://investorshub.advfn.com/boards/board.aspx?board_id=10712 APC http://messages.finance.yahoo.com/mb/APC INSTIT http://thebuylist.com/default.aspx?Stock=apc
Helix Energy Solutions Group, Inc (NYSE: HLX)...117,85
Full Time Employees: 3,370
Shares Outstanding5: 91.85M
Diluted EPS (ttm): 3.67
Operating Cash Flow (ttm): 474.88M
Revenue (ttm): 2.11B
Assets(without goodwill): 4.37B
Based on last quater 30-Sep-08
HLX (1) http://investorshub.advfn.com/boards/board.aspx?board_id=10865 development solutions and various other contracting services to the energy market, as well as to its oil and gas operations properties YAHOO http://messages.finance.yahoo.com/mb/HXL INSTIT http://thebuylist.com/default.aspx?Stock=HLX
National Oilwell Varco, Incorporated (NYSE: NOV) ...52,03
Full Time Employees: 26,731
Shares Outstanding5: 417.32M
Diluted EPS (ttm): 4.54
Operating Cash Flow (ttm): 2.17B
Revenue (ttm): 12.28B
Assets(without goodwill): 9.7B
Based on last quater 30-Sep-08
NOV (9) http://investorshub.advfn.com/boards/board.aspx?board_id=10713 design, construction, manufacture, and sale of systems, components, and products to the oil and gas industry worldwide. Rig Technology, Petroleum Services & Supplies, and Distribution Services NOV http://messages.finance.yahoo.com/mb/NOV INSTIT http://thebuylist.com/default.aspx?Stock=NOV
McDermott International Inc.(NYSE: MDR) ...10,99
Full Time Employees: 28,400
Shares Outstanding5: 227.94M
Diluted EPS (ttm): 2.37
Operating Cash Flow (ttm): 250.59M
Revenue (ttm): 6.43B
Assets(without goodwill): 4.25B
Based on last quater 30-Sep-08
MDR (4) http://investorshub.advfn.com/boards/board.aspx?board_id=10677 engineering and construction company worldwide. Offshore Oil and Gas Construction, Government Operations, and Power Generation Systems MDR http://messages.finance.yahoo.com/mb/MDR INSTIT http://thebuylist.com/default.aspx?Stock=MDR
YPF S.A. (YPF) -NYSE
Trailing P/E (ttm, intraday): 4.40 |
Forward P/E (fye Dec 31, 2013)1: 2,82 |
Diluted EPS (ttm): 2.80 |
Book Value Per Share (mrq): 15.01 |
http://stockcharts.com/h-sc/ui?s=YPF&p=D&yr=2&mn=0&dy=0&id=p76647988423
http://stockcharts.com/h-sc/ui?s=YPF&p=D&yr=0&mn=3&dy=0&id=p88590220477
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