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| Industry Insights From MJMENERGY |
EAGC ISSUE |
November 2006 |
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Cannes, famous for its International Film Festival, saw more stars this year as the 21st Annual European Autumn Gas Conference (EAGC) took place at the Hilton Hotel on La Croisette, drawing delegates from many European countries. During the host address, Jean-Marie Dauger of Gaz de France, pointed out that twenty one years ago at the first ever EAGC the same questions were being asked then as they are today, namely; pipeline from Norway, should it go the UK or Europe? Is nuclear and coal disappearing? And Security of Supply was an issue then, just as it is today! |
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 mWELCOME
Hello and welcome to the November issue of MZINE, our free monthly e-newsletter. Autumn seems to be finally arriving here in the UK, as leaves are falling from the trees with a vengeance, although two weeks ago I was enjoying rather warmer weather in Cannes with EAGC, see MSTORY for our main article. MPRICES looks at the spot Oil Forward Curve, whilst at MPHASIS Derek discovers a new, or not so new way of storing/finding gas. Don't forget our provoking thought at MPATHY. Our latest list of training courses can be found at MTRAIN If you want a last opportunity to look at the UK Gas Markets or LNG this year then sign - up, there are still spaces. Please feel free to contact me about this newsletter and let me have your thoughts, what you like and don't like, I am open to your suggestions. And if you have enjoyed reading this newsletter and think you know someone who might also enjoy it then feel free to forward it on. Kind regards. |
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 mTRAIN
Below are our last two public courses for 2006, keep an eye out for our new courses for 2007. More information about these courses can be found by clicking on the course title or visiting energytrainingnetwork.com and clicking on public courses. Alternatively you can contact me by email or phone +44 (0) 1235 553917, fax +44 (0) 1235 553917. Any of our public courses can be held at your location, for your company, or they can be tailor made to your requirements. If you want to find out more contact our Training Manager Nick White nick@mjmenergy.com +44(0) 1235 211161 and get ahead of the rest.
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OTHER DATES
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mPRICES THE FORWARD
CURVE Downward pressure on prices eased with market expectations that OPEC will cut production. Prompt WTI prices remain very weak and the front end of the forward curve is in deep contango, reflecting high stock levels for both crude and products. Crude runs are down sharply as refiners go into turnaround after maximising throughputs over the summer in response to changing product specifications for US gasoline and diesel. However, longer-term prices are firmer now that OPEC has indicated its determination to halt the slide in prices.
Rising non-OPEC supply and slower demand growth has put OPEC on the defensive, with the Organisation agreeing to make cuts of 1.2mbpd from September output levels. With industry stocks rising sharply in recent months, OPEC hopes to bring the market back into balance this winter. Calendar 2007 WTI is just under $66/bbl – only a few cents above Brent and around $61/bbl for the new OPEC basket of crudes.
CGES Monthly Oil Report, 23 October 2006 |
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Life is like a box of chocolates
you never know what you are going to get. Forrest Gump |
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mOFFERS
Need a map? take a look at our range of rolled or folded maps at http://www.energypublishing.com/maps.htm |
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MJMENERGY LTD have provided all the information in this newsletter free of charge to anyone who wishes to read it. We cannot be held responsible for any inaccuracies although all information is believed to be correct at time of publication. Whilst articles published in this newsletter often carry a particular point of view, publication of them does not imply that we necessarily agree with them. Anyone wishing to contact the editorial team with regards to any of the above articles should email: editor@mjmenergy.com, or phone +44 (0) 1235 553917 Copyright © 2006, MJMENERGY LTD. All rights reserved (but feel free to copy, post, quote, think about or forward on) |
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