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September 9, 2011

Energy Data Highlights

Crude oil futures price 9/7/2011: $89.34/bbl up$0.53 from week earlier up$15.25 from year earlier Natural gas futures price 9/7/2011: $3.940/mmBtu down$0.114 from week earlier up$0.090 from year earlier Weekly coal production 9/3/2011: 20.986 million tons down0.167 million tons from week earlier down0.825 million tons from year earlier Natural gas inventories 9/2/2011: 3,025 Bcf up64 Bcf from week earlier down131 Bcf from year earlier Crude oil inventories 9/2/2011: 353.1 mmbbl down4.0 mmbbl from week earlier down6.8 mmbbl from year earlier

http://www.eia.gov/ Natural Gas/ Power News EIA Storage Release 9/1/11 (Actual): +64 Bcf Previous Week: +55 Bcf -4.2% Change from 1 Year Ago -1.9% Change 5-year Average Traders Push Bearish Bets on Reliance Options to 2-Year High on Gas Output Options traders are the most bearish on Reliance Industries Ltd. (RIL) in two years as Indias biggest company by market value faces a decline in natural-gas production that may take two years to reverse.

http://www.bloomberg.com/news/2011-09-09/reliance-options-traders-pushbearish-bets-to-2-year-high-on-gas-outlook.html San Diego Blacked Out as Power Cut Hits Southern California, Arizona Homes A transmission-line failure cut power to 1.46 million homes in Southern California and Arizona, snarling traffic, crippling emergency response systems and knocking out President Barack Obamas televised speech. http://www.bloomberg.com/news/2011-09-09/power-outage-affects-thousands-ofpeople-in-southern-california-arizona.html Wildfires threaten Texas oil and gas activity Oil and gas companies with operations in Texas are keeping a close eye on wildfires that are wreaking havoc across central and southeast portions of the state for fear their facilities could be damaged or output halted. http://fuelfix.com/blog/2011/09/08/wildfires-threaten-texas-oil-and-gas-activity/ Canadian producers issue guidelines for shale gas development The Canadian Association of Petroleum Producers, acting on behalf of the country's natural gas producers, Thursday announced guidelines for hydraulic fracturing of shale gas developments. The new principles emphasize water management and improved disclosure of water and fluid practices. http://www.platts.com/RSSFeedDetailedNews/RSSFeed/NaturalGas/6454847 Pennsylvania nuclear plants prepare for possible flooding Nuclear power plants in Pennsylvania are preparing to cope with flooding, but none has declared a state of emergency, US Nuclear Regulatory Commission spokesman Neil Sheehan said Thursday. http://www.platts.com/RSSFeedDetailedNews/RSSFeed/ElectricPower/6454882

Green/ Alternative Energy News

EPA rule requires SO2 emissions reduction from Texas coal power plants in 2012 Starting in 2012, power plants in 23 states must meet new sulfur dioxide (SO2) emissions caps in order to comply with the Cross State Air Pollution Rule (CSAPR) http://www.eia.gov/todayinenergy/detail.cfm?id=2990

Crude Oil News

OPEC Daily Basket Price 9/8/2011 $112.15 (9/7/2011 $111.33) Recent Rig Counts Last Count Change Cou from Prior nt Count -7 +9 Date of Prior Count 26 Aug 11 26 Aug 11 Change Date of from Last Last Year's Year Count +315 +129 03 Sept 10 03 Sept 10

Area U.S. Canada

2 Sept 1968 11 2 Sept 11 517

Internatio nal

July 2011

1150

-8

June 2011

+41

July 2010

http://investor.shareholder.com/bhi/rig_counts/rc_index.cfm Oil slips on economic gloom, dollar gains Oil retreated on Friday, hit by gloom surrounding prospects for the global economy and dollar gains, but Brent crude outperformed other commodities, supported by tight supply in Europe and the United States. http://www.reuters.com/article/2011/09/09/us-markets-oilidUSTRE77838320110909 Oil Heads for Third Weekly Gain on Obama Job Plan, Storm in Gulf of Mexico Oil headed for a third weekly gain as investors bet President Barack Obamas jobcreation plan will support demand for fuel and as producers in the Gulf of Mexico evacuated workers ahead of Tropical Storm Nate. http://www.bloomberg.com/news/2011-09-09/oil-erases-loss-in-new-york-afterobama-job-plan-nate-to-become-hurricane.html Crude Oil Declines for Second Day as Rising Dollar Counters Storm Concerns Oil fell for a second day in New York as a rising dollar undermined the appeal of commodities, offsetting concerns that a tropical storm off Mexicos Yucatan Peninsula will limit the supply of crude http://www.bloomberg.com/news/2011-09-09/crude-oil-declines-for-second-day-asrising-dollar-counters-storm-concerns.html US Gulf Coast production again near record on high run rate: EIA US Gulf Coast production of ultra low sulfur diesel steadied last week just below the previous week's record, government statistics showed Thursday, although total US output dipped as East Coast refineries shut due to hurricane threats. http://www.platts.com/RSSFeedDetailedNews/RSSFeed/Oil/6450284

Oil prices fall victim to rise in dollar Expectations of tighter supply failed to support crude oil prices, which fell victim to a drop in share markets and the dollars rise in European morning trading. The dollar rose to a six month high against the euro at $1.3808, its highest level since March, hitting oil prices. ICE October Brent fell $0.27 to $114.27 a barrel while the Nymex October West Texas Intermediate lost $1.18 to $87.87 a barrel. http://www.ft.com/intl/cms/s/0/a98ab17e-dac5-11e0-a58b00144feabdc0.html#axzz1XSFvjbZ4 Crude Pushes Higher as Broader Markets Rally Oil futures settled at their highest level in more than a month, boosted by a sharp rally in the equities markets. Light, sweet crude for October delivery climbed $3.32, or 3.9%, to $89.34 a barrel on the New York Mercantile Exchange, the highest settlement since Aug. 3. Brent crude on ICE Futures Europe settled up $2.91, or 2.6%, to $115.80 a barrel. http://online.wsj.com/article/SB1000142405311190483610457655622027143141 8.html?KEYWORDS=commodities Libya Said to Ship First Cargo of Crude From West as Production Resumes Libya may export this month its first crude cargo since March from the countrys west as the holder of Africas biggest oil reserves rebuilds production after deposing former ruler Muammar Qaddafi http://www.bloomberg.com/news/2011-09-09/libya-said-to-ship-first-crude-oilcargo-from-west-as-production-resumes.html Norway's oil and gas production up in August year-on-year Norway's crude production in August was 1.625 million b/d, up from 1.603 million b/d a year earlier, according to figures released Thursday by the Norwegian Petroleum Directorate. The country's gas production in August was 7.9 billion cubic meters, up from 6.0 Bcm in August 2010, the NPD figures indicated. http://www.platts.com/RSSFeedDetailedNews/RSSFeed/Oil/8321174

Weather
Tropical Storm Nate Weakens; May Become Hurricane Today Tropical Storm Nate is expected to become the third hurricane of the Atlantic season today or tomorrow as it forces energy companies to begin evacuating platforms in the Gulf of Mexico. Hurricane Katia may weaken in the Atlantic, while Tropical Storm Maria may strengthen as it heads toward the Virgin Islands, according to the U.S. National Hurricane Center http://www.bloomberg.com/news/2011-09-09/tropical-storm-nate-to-becomehurricane-in-gulf-katia-and-maria-weaken.html Tropical Storm NATE http://www.nhc.noaa.gov/text/refresh/MIATCPAT5+shtml/081146.shtml

Weather
Tropical Storm MARIA http://www.nhc.noaa.gov/text/refresh/MIATCPAT4+shtml/091155.shtml

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