Daily Archives: March 17, 2010

Carola Hoyos

PetroChina, the Chinese state-owned energy group, is building new liquefied natural gas import terminals even though it has yet to secure the long-term supply for them, writes World Gas Intelligence today . This relatively new development illustrates the company’s confidence that supplies will be there when it needs them and its unwillingness to pay today’s high prices for long-term contracts when spot prices are at $4.30 per million British thermal units (mbtu) in the US, the most liquid spot gas market. Read more

Kate Mackenzie

On FT Energy Source:

- Opec keeps quotas unchanged  Read more

Carola Hoyos

As widely expected, Opec oil ministers arriving for the cartel’s meeting in Vienna this morning reiterated that they would maintain the status quo and keep the group’s production quota unchanged. So unless ministers have been telling bald-faced lies, this meeting is over even before it has officially begun. Read more

Carola Hoyos

Every time the topic of a gas cartel comes up, so does the question: Could they really do it? With more and more gas traded on the spot market, rather than tied up in long-term supply contracts, the answer is increasingly yes. That doesn’t mean it will be easy, or likely to be a quick success.

Nevertheless, three big things have changed in the past year to make it worth a closer look. Read more

Carola Hoyos

It’s not easy to hide a French man in the (formerly Belgian) Democratic Republic of Congo. At least that has been the recent experience of Total, the French oil company, whose executive Phillippe Hergaux was tracked down there by local television crews and then by Reuters. Hergaux was scouting out new oil fields on the Democratic Republic of Congo’s side of Lake Alberta, where Total has just formed a partnership with UK-lised Tullow Oil and Cnooc, the Chinese state oil company. Read more

Kate Mackenzie

The EIA every year publishes a review of how its long-term forecasts dating back to 1982 have held up against actual developments in US energy production, consumption and pricing. So, how have they held up? It’s a very mixed picture – on GDP, rather well, on supply and demand, reasonably well. And on energy prices: not well. Not at all. Read more

If you were wondering how Senate Banking Committee chairman Chris Dodd’s proposed bill on financial regulation might affect commodity trading, John Kemp at Reuters has done much of the hard work for us. In a note sent out on Tuesday, the tenacious former Sempra economist explains how the rules appear to echo and enforce many of the CFTC’s own recommendations, while adding more clarification on matters like OTC swap regulation. Read more

Kate Mackenzie

Algeria calls for united action from gas producers (FT)

UN divided over climate policy (FT) Read more