Crude supplies, already low, to be further depleted - UPDATE 1 | 17.09.2004 19:38 | | |
DALLAS (AFX) -- Oil and gas production in the Gulf of Mexico remains offline and tankers continued to sit idle offshore Friday, raising questions abouthow much further the nation's crude inventories will be depleted followingHurricane Ivan.Moreover, it set the market up for a classic supply-driven price squeeze.On Wednesday, the Energy Department reported a 7.1-million barrel drawdown inoil supplies for the week ended Sept. 10. As of the latest report, oil suppliesstood at a seven-month low. The latest week's drop was about equal to the decline in supplies for the entiremonth of September, noted James Williams, an energy economist at WTRG Economics.Since U.S. supplies are sure to drop when the Energy Department and the AmericanPetroleum Institute issue their separate inventory data reports on Sept. 22,traders hedged their bets and sent crude futures soaring on the New YorkMercantile Exchange. Crude for October delivery was last $45.50, up $1.62 cents, or 3.7 percent.Also, October natural gas jumped 42.6 cents, or 9 percent, to $5.14 per millionBritish thermal units. .Phil Flynn, senior market analyst at Alaron.com, said he sees crude potentiallyheading toward $50 a barrel once the October crude contract breaks through $45.Oil and gas stocks were also broadly higher. .It's different this time"The halt in production basically means that this hurricane, unlike the ones inthe past, could have a longer-term impact on supplies," Flynn said, adding theindustry typically tends to rebuild supply very quickly, dumping a "motherload"of crude on the market."This time, we can't count on that," he said. "The Energy Department reported a7-million barrel draw last week and it's not going to get much better this week.The only way to keep up is with record imports."Tankers are still waiting to offload supplies at the Louisiana Offshore OilPort, shut down for much of this week in anticipation of Ivan, because strongcurrents are preventing their arrival to shore at least until Saturday, Flynnsaid. "We were counting on those big inventories coming into town," Flynn said. "Nowwe have Hurricane Jeanne barreling in and then Hurricane Karl, so for the nextthree weeks you could have crude imports disrupted and production turned off andturned on. This is a time when we should be building supplies for the winter,and this could create a problem."About 25 percent of U.S. oil and gas output comes from the Gulf. ExxonMobil spokesman Bob Davis said Friday the company is just beginning toreturn workers to platforms and assess the situation. Production in the Gulf, amounting to 55,000 barrels a day of crude and 740,000million cubic feet a day of natural gas, remains halted, he said.Meanwhile, BP hasn't completed its facility inspection, said spokesman HughDepland on Friday. Bringing production back on line takes time and will come in stages, he said. BPusually produces 350,000 barrels of oil equivalent a day in the Gulf.After conducting an aerial reconnaissance on Thursday, ChevronTexaco said thatit saw no visible environmental impact but that there are still some poweroutages offshore. All of the company's locations should be staffed by middayexcept for one in the eastern Gulf, which saw its helipad damaged by thehurricane, said spokesman Matt Carmichael.According to a Friday statement on Shell's U.S. Web site, the company doesn'tyet have damage assessments or information on production start-up.Ivan had halted Shell's production of 444,800 barrels of oil and 1.44 billioncubic feet of gas daily. On Thursday, the Minerals Management Service reported that workers on 545platforms, 30 less than the previous day, and 69 rigs had been evacuated fromthe Gulf of Mexico, representing 71.3 percent of 764 manned platforms and 59percent of currently operating rigs. About 83 percent of daily oil production and 53 percent of the natural gasoutput in the Gulf was shut-in as of Thursday. Producers in the Gulf typicallysupply 1.7 million barrels per day of oil and 12.3 billion cubic feet of gas.This story was supplied by CBSMarketWatch. For further information see |
Yukos schließt wegen Steuerschulden in Milliardenhöhe Konkurs nicht aus | 17.09.2004 18:32 | | |
MOSKAU (AWP/dpa-AFX) - Der russische Ölkonzern Yukos hat wegen seinerSteuerschulden in Milliardenhöhe einen Konkurs nicht ausgeschlossen. "Wir habennicht genügend Geld, um die Geschäfte am laufen zu halten und gleichzeitig dieSteuerschuld zu zahlen", sagte der Finanzvorstand von Yukos Bruce Misamore amFreitag in einer Telefonkonferenz.Das Unternehmen bekomme keine Unterstützung von der russischen Regierung und auch die Briefe der vergangenen Wochen würden nicht beantwortet, so Misamore. "Wir haben in den vergangenen zwei Monaten wegen der Steuerschulden 50 Briefe an die Regierung geschrieben", sagte Misamore. Keiner davon sei beantwortet worden. Yukos hatte zuvor mitgeteilt, dass es die Schätzungen für seine Vorräte (geprüfte, mögliche und wahrscheinliche Reserven) für das Yuganksneftegasfeld von 19,4 auf 93,7 Milliarden Barrell erhöht hat. Die drastische Erhöhung sei das Ergebnis einer mehrjährigen Studie gewesen, hieß es in der Konferenz. Am vergangenen Freitag hatte das Ministerium für Naturressourcen in Moskau dem Unternehmen gedroht, dem wichtigsten Yukos-Förderbetrieb Yuganskneftegas sämtliche Lizenzen abzuerkennen. Der Betrieb habe laufende Steuerschul den von mehr als 3,5 Milliarden Rubel, was ein triftiger Grund für den Lizenzentzug sei, begründete ein Ministeriumssprecher die Absicht. Die Entscheidung solle inzwei Wochen getroffen werden. Yukos ist rechtskräftig zu einer Steuernachzahlung von 2,8 Milliarden Euro für 2000 verurteilt worden. Für 2001 fordert die russische Justiz weitere 3,4 Milliarden Euro. |
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