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December 10, 2006

SAUDI ARABIA: TIME TO ACT! | # | P&E — MaT @ 9:20 pm

Saudi King Abdullah last night opened the 27th GCC Summit with a warning that the Arab World was like a powder keg waiting to explode, citing the situation in the Palestinian territories, Iraq and Lebanon. "Our Arab region is besieged by a number of dangers, as if it was a powder keg waiting for a spark to explode," he told leaders.

Meanwhile, His Majesty King Hamad urged the GCC to re-launch itself as an even stronger, united bloc to face challenges head on.

This was the only way to deliver on citizens’ aspirations, he said on his arrival in Riyadh for the summit.

"It is necessary to re-evaluate and upgrade whatever is needed to reinforce the spirit of joint work and co-operation and cope with future requirements in economic fields and review all sectors of joint co-operation to accomplish more development," he urged.

Experience has proven that there was no alternative but to further reinforce co-operation among member states and work promptly to achieve all benefits in the coming phase, he explained.

He hoped that the summit would add yet another achievement in the progress of GCC co-operation which would in turn satisfy the aspiration of GCC citizens and provide more unity among them.

Bahrain sees in this summit a new launch reflecting the keenness to continue joint co-operation and develop ties in order to reap the benefits and achieve prosperity for GCC countries and their people, he said.

Both regional and international developments reflect on GCC member states and discussing these developments and issues which include political, economic and environmental aspects are of utmost importance, he explained.

In addition, topics related to the nuclear file and its effect on security and stability of the region along with the peace process in the Middle East are to be discussed in order to take appropriate stances to protect the interests of all, said His Majesty.

Leaders are meeting amid growing concern over the potential fallout of sectarian unrest in Iraq and fears of a regional nuclear arms race.

GulfDaily

Etiquetas: Manuel Torres Laveaga

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IRAN ‘eyes oil price above $70/bbl’ | # | P&E — MaT @ 9:17 pm

Oil prices should climb back to levels above $70 a barrel as a result of winter weather in the northern hemisphere and Opec output decisions, a senior Iranian oil official was quoted as saying.

‘The oil price in the world market has been more than $70 per barrel in the past but considering the fact that we are approaching winter and demand is increasing this price could be higher,’ said NIOC managing director Gholamhossein Nozari.

‘We are trying to increase the current oil price through controlling the market,’ the Irna news agency said.

Oil prices in New York and London closed just above $62 per barrel on Friday.

Opec holds a meeting on December 14 to decide on output policy.

Opec president Edmund Daukoru said he favoured a cut in production by Opec, deepening a 1.2 million barrel per day cut agreed in October.

TradeArabia

Etiquetas: Torres Laveaga

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YEMEN awards PSAs for eight oil blocks | # | P&E — MaT @ 9:12 pm

Yemen said it awarded five international oil companies production sharing agreements on eight blocks in the non-Opec oil producer.

Oil Minister Khaled Mahfoudh Bahah said Austria’s OMV won a PSA for block 29 while India’s Gujarat State Petroleum Corp was awarded a PSA for blocks 19, 28 and 57.

The oil ministry also signed a deal with Norway’s DNO for block 84 and with Indonesia’s PT Medco Energi International for blocks 82 and 83, Bahah said.

Britain’s Burren Energy won a PSA for block 17.

The minister said the companies were expected to invest an initial $99 million on exploration work on the blocks.

In March, Yemen pre-qualified 34 firms in a third bid tender to explore and produce oil in 14 blocks in the Arab country.

Bahah had said the winners would be announced in December and that most of the blocks on offer were onshore blocks. Yemen is pumping around 380,000 barrels per day of crude oil, down from around 470,000 bpd in 2002 due to declining production at mature fields.

Sanaa has said it hopes high oil prices will encourage international energy companies to explore onshore and offshore areas as Yemen tries to reverse the decline in crude output.

TradeArabia

Etiquetas: Manuel Torres Laveaga

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SAUDI ARABIA sees $60 oil as acceptable, says envoy | # | P&E — MaT @ 9:08 pm

Saudi Arabia sees $60 a barrel as an acceptable level for benchmark crude oil prices, and is opposed to any dramatic fluctuation in the price, the kingdom’s ambassador to the US said.

Prince Turki Al Faisal said Saudi policy had always emphasized the need for gradual price movements for the sake of producers and consumers.

‘Our continuous policy is that price corrections should be incremental and they should be equitable for both producers and consumers,’ he told an audience after a talk on education at Princeton University.

‘We don’t want to see exorbitant hikes or exorbitant drops.’

He cited Saudi Oil Minister Ali Al Naimi as stating that the kingdom is satisfied with oil around the current level of $60 a barrel.

‘Our oil minister has publicly said we will accept $60,’ the ambassador said, ahead of an Opec meeting in Abuja, Nigeria, at which the producer group may adjust production levels.

He stressed that Saudi Arabia doesn’t want to disrupt consumer economies.

‘Saudi Arabia has taken the position that if there are to be price rises in the oil market, they should be reasonable and they should be affordable to consumers,’ he said.

Etiquetas: Manuel Torres Laveaga

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OMAN to expand refinery capacity | # | P&E — MaT @ 9:03 pm

Oman Refinery Company (ORC) will shut its 85,000 barrel per day (bpd) refinery in Muscat from mid-January until April as it works to expand capacity by 25 per cent, two refinery sources said.

‘The refinery is running until mid-January 2007,’ one source said.

The $320 million expansion project will see the refinery’s processing capacity jump to 106,000 bpd by April.

Oil traders had suspected a maintenance closure after ORC tendered last week to buy 2.2 million barrels of gasoline during the first quarter, more than twice its normal imports, signalling it was anticipating lower domestic supply.

The shutdown of the refinery may also release up to five 500,000 barrel Oman cargoes a month into the market, although traders said the impact may be limited with the new 116,000 bpd Sohar refinery expected to come fully on stream soon.

Sohar was first expected to begin operations in the summer, but has been repeatedly delayed by operational hiccups. A senior official said last month that it was now due to begin commercial operations in early December.

A source in Oman said the Sohar refinery was not yet running at full capacity.

Etiquetas: Manuel Torres Laveaga

posted by BajaeNergy at 10.12.06 0 COMENTARIOS y MAS SOBRE ESTA NOTICIA …

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ESPAÑA: Los reguladores de la Union Europea piden más autonomía para la CNE | # | P&E — MaT @ 9:01 pm

Los reguladores energéticos de los 25 países de la Unión Europea reclaman más independencia respecto al poder político y critican que en ocho estados miembros entre ellos España los gobiernos pueden rechazar o enmendar las decisiones adoptadas por el regulador: en el caso español, la Comisión Nacional de la Energía (CNE).

El Grupo de Reguladores Europeos del Gas y la Electricidad del que forma parte la CNE hace esta observación en su informe anual de propuestas a la Comisión Europea.

El estudio explica que todos los reguladores energéticos de la UE están separados formalmente del Gobierno, pero que en España, Austria, Francia, Alemania, Grecia, Italia, Malta y Eslovenia los gobiernos tienen poderes para aprobar, rechazar o enmendar las decisiones del regulador.

«Los reguladores deben ser independientes de los intereses políticos y de la industria para que puedan proteger los intereses de los consumidores de energía», dijo el presidente del grupo de reguladores europeos, John Mogg, a través de un comunicado. A su juicio, los reguladores deben rendir cuentas de sus decisiones, pero éstas «deberían estar al margen de la influencia política». El informe reclama una nueva normativa de la UE sobre separación estructural de propiedad entre generación de energía y redes de distribución y aboga por dar más poderes a los reguladores para supervisar esta división en conflictos transfronterizos. «Una separación insuficiente es a menudo la principal barrera a la competencia», dijo Mogg.

Finalmente, los reguladores señalan que los precios regulados distorsionan la competencia y deberían ser abolidos o ajustarse a las condiciones de mercado. «La idea de la liberalización consiste en permitir a los clientes europeos buscar el mejor precio de la energía. Si los precios están siendo subsidiados en el mercado doméstico, a través de los precios regulados, y si los procedimientos para cambiar de proveedor son difíciles, los clientes no cambiarán de empresa», señaló el presidente.

El comisario de Energía, Andris Piebalgs, acogió con satisfacción el informe. Piebalgs defiende la creación de un regulador energético europeo, un plan que apoya España pero que se enfrenta a la resistencia de Alemania y Reino Unido.
LNE.es

Etiquetas: Manuel Torres Laveaga

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PERU: Petroperú y Petroecuador discutirían alianza estratégica el 14 y 15 de diciembre en cumbre de Montevideo | # | P&E — MaT @ 8:59 pm


El presidente de Petroperú, César Gutiérrez, afirmó hoy que el acuerdo para lograr una alianza estratégica con Petroecuador será discutido en el próximo cónclave de la Asociación Regional de Empresas de Petróleo y Gas Natural en Latinoamérica y el Caribe (Arpel) a realizarse los días 14 y 15 de este mes en Montevideo, Uruguay.
Andina.com.pe

Etiquetas: Manuel Torres Laveaga

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