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VK2AAB > FUEL 03.06.08 08:05l 149 Lines 7801 Bytes #999 (0) @ WW
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Subj: ASPO USA Newsletter
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Sent: 080603/0527Z @:VK2AAB.#SYD.NSW.AUS.OC #:3579 [Sydney] $:3579_VK2AAB
From: VK2AAB@VK2AAB.#SYD.NSW.AUS.OC
To : FUEL@WW
An Iata spokesman on ABC radio this morning reported that world airlines are
looking at multi billion dollar losses if present oil prices are maintained.
He commented that 24 airlines have become bankrupt so far this year.
It looks like the big aluminium canaries are in trouble.
The following is from the US ASPO Newsltter.
73 Barry VK2AAB
-----------------------------------
Russia doesn't have enough natural gas to meet all its export contracts and
to fill all the pipelines to Europe it's building now, according to a
Ukrainian Foreign Ministry official. Gazprom responded by saying it has more
than enough gas to meet all contracts with Europe up to 2035. (5/30, #17)
While the International Energy Agency welcomes Russian tax incentives for
oil producers, IEA's Deputy Executive Director said Wednesday he doubts those
incentives will be enough to increase Russia's oil production. (5/28, #2)
Last week MEND in Nigeria bombed another Shell flow station. The militants
claim that the government is now forbidding the oil companies from publically
announcing the amount of oil that has been shut in by their attacks. At mid-
week, however, Nigeria's Oil Minister told a reporter that the recent attack
shut-in another 130,000 b/d. This seems to be in addition to the 175,000 b/d
that was shut in by an attack two weeks ago. (5/27, #4)
China has told state-controlled oil refiners China National Petroleum Corp.
and China Petrochemical Corp. to boost supplies of diesel and other fuels to
meet demand from farmers during the summer planting and harvesting season.
(5/27, #9)
In China, petrol stations in at least three major coastal cities were
rationing diesel on Thursday causing long queues of trucks and reviving the
specter of bigger fuel shortages that could stir discontent. (5/30, #8)
China's economy can maintain a steady growth above 8 percent for a
relatively long period because of a stable society, a vast market and ample
capital, said an economist and former vice chairman of the Standing Committee
of the National People's Congress. (5/28, #7)
In China, gasoline sells for $2.49 per gallon. Beijing last raised domestic
gasoline prices in November 2007, by 9%, and that was the first and only hike
since January 2007, when crude was $57 per barrel. (5/29, #20)
Chinese retailers will no longer provide free plastic shopping bags. China
is trying to reduce the use of plastic bags in a bid to reduce energy
consumption and pollution. (6/1, #5)
According to Pemex, production from Cantarell - one of the world's largest
oil fields which accounts for roughly half Mexico's total daily output - has
shrunk 24 percent in the past 12 months alone. (5/27, #6)
In Brazil a shortage of drilling rigs and looming relinquishment deadlines
have led Petrobras to delay tests on potentially huge subsalt finds like
Carioca and move the rigs to other blocks. Oil exploration equipment is in
short supply and becoming more expensive. Renting a deepwater rig costs, on
average, between $400,000 and $600,000 a day. (5/27, #7)
Argentina, Chile's sole supplier of natural gas for power plants,
completely shut off exports to their neighbor last Wednesday. (5/31, #5)
Argentine gas distributors have begun to restrict supplies of natural gas
to some service stations that sell compressed natural gas for cars amid the
nation's first winter cold spell. Argentina has faced chronic winter gas
shortages since 2004. (5/30, #7)
Paraguay is receiving between 50% and 70% less diesel than normal. (5/31,
#6)
Venezuela has increased petroleum product imports by nearly 150 percent
between the first quarter of 2007 and the same period this year. The imports,
which include diesel oil, gasoline and chemical additives for gasoline
products, are the country's highest in more than a decade. (5/30, #6)
Americans expect gasoline will only get more expensive, with 78 percent
anticipating $5 a gallon next year, according to a recent CNN/Opinion Research
poll. (5/31, #11)
School buses: in Minnesota a school district with 700 students plans to
eliminate classes every Monday so it can afford fuel for its buses.
Mississippi approved a plan to cut the number of varsity games by 10 percent
beginning this fall for all sports except football. When North Carolina
lawmakers drafted the state's current two-year spending plan, they estimated a
gallon of diesel would cost $1.69 this school year, well below the current
average cost of $4.79/gal. (5/31, #12)
Fuel costs for airlines, which now typically account for up to 40 percent
of total operating expenses, have already jumped more than 50 percent since
the start of the year. (5/30, #1)
U.S. airlines trim flights: Airports in Pittsburgh and Cincinnati are among
120 where airlines reduced seating capacity at least 10 percent in the past
year, with more cuts likely to offset the 83 percent, 12-month surge in the
cost of jet fuel. (5/29, #12)
L.N.G. shipments to the U.S. are slowing to a trickle, and Cheniere and
other companies have dropped plans to build more terminals. (5/29, #13)
Iran is facing a summer of power cuts after a severe drought slashed output
from its hydroelectric power plants, the energy minister warned, according to
press reports on Thursday. (5/30, #3)
A shortage of diesel has hit the UAE again, one year after their first
diesel crisis. Truck drivers and salesmen at petrol stations across the
country say there is a severe shortage of the fuel. (5/30, #4)
In southern Egypt, an electricity generating company has reduced supplying
electricity from 18 hours to 5 hours a day, due to persistent shortages of
diesel fuel. (5/30, #5)
India's largest oil company said Wednesday that it would stop buying
foreign oil, sell only the oil it produces domestically, and ration supplies
in order to cut revenue losses. India's state-run oil operations have to pay
world prices for imported oil, then sell the oil at a capped price, but
subsidies to them from the government treasury don't make up the difference,
so they are going broke. (5/29, #9)
Indonesia, the only OPEC member in Southeast Asia, will pull out of the
group as aging fields and declining production force the region's biggest
economy to boost imports. Indonesia imports about a third of its oil and
production has slumped 49 percent from a peak in 1977. (5/28, #3)
Britain faces the danger of repeated blackouts as crumbling power stations
suffer a series of failures. More than 500,000 homes lost electricity for
several hours after two major sites shut down suddenly last week. Ten of
British Energy's 16 nuclear generation units were out of service either for
maintenance or through faults. (5/29, #15)
Verenium Corporation has begun the commissioning phase at its
demonstration-scale cellulosic ethanol facility in Jennings, Louisiana. The
plant is rated to produce 91 barrels per day using specialty enzymes and the
company's proprietary technology to convert non-food biomass to ethanol.
(5/29, #22) A major report was released in Paris that urged countries to
reconsider biofuels policies in the wake of soaring food prices. Just hours
later, US Agriculture Secretary Edward Schafer claimed biofuel production was
responsible for only 2 to 3 percent of the increase in global food prices.
(5/30, #13)
For years, scientists have had a straightforward idea for taming global
warming: take the carbon dioxide that spews from coal-burning power plants and
pump it back into the ground. But it has become clear in recent months that
the nation's effort to develop carbon capture and sequestration is lagging
badly. (5/30, #16)
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