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MONDAY, DECEMBER 19, 2011
To download the full report (PDF document) please click here SPECIAL PDF REPORT - THREAT OF IRAN SANCTIONS WORRIES OIL MARKET Iran aims to sell its biggest Asian customers oil at higher prices and on tougher terms, even as it faces the prospect of fewer sales as Western nations mull sanctioning the economic lifeline of the world's fifth largest crude exporter.
For Reuters reports on the meet, click here Brent falls below $103 on N.Korea news, euro zone jitters
SINGAPORE, Dec 19 (Reuters) - Brent crude futures fell below $103, as ongoing concerns over the euro zone debt crisis and the prospect of regional instability after the death of North Korea's leader weighed on riskier assets.
"The market is still concerned that what's going on in Europe will spread to China, the biggest centre for oil demand growth," said Gordon Kwan, head of energy research at Mirae Asset Management in Hong Kong.
FOREX-Dollar holds some gains made on Kim Jong-il death
TOKYO, Dec 19 (Reuters) - The dollar held some of the gains it made as it spiked higher on safe-haven bids following news of the death of North Korean leader Kim Jong-il.
"Risk proxies are selling off, and forex is taking the lead from equities markets," said Sue Trinh, senior currency strategist at Royal Bank of Canada in Hong Kong.
GLOBAL MARKETS-Ratings threats, N.Korea pressure stocks and euro
LONDON, Dec 19 (Reuters) - European stocks and the euro were under pressure in the wake of a fresh rating agency warning on the euro zone debt crisis, while news of the death of North Korean leader Kim Jong-il sparked fears of regional instability in Asia.
"It is hard to predict how things in North Korea will develop from here this time. The news comes at a time when financial markets had already been in fragile shape," said Bae Sung-young, a market analyst at Hyundai Securities.
TOP NEWS:
China's Zhuhai Zhenrong to halve Jan Iran oil imports -source
BEIJING, Dec 19 (Reuters) - China state trader Zhuhai Zhenrong Corp will cut Iranian crude oil imports in January by about 120,000 barrels per day, or half of the average monthly amount, as directed by China's Sinopec Corp, which is in dispute with its Iranian counterpart over payment issues for 2012 crude supplies.
"The volume for Zhenrong will be halved for January," said one Chinese oil trader familiar with the term talks between the Chinese buyers and the National Iranian Oil Company.
Russia's Tatneft denies agreed deal in Iran
MOSCOW, Dec 19 (Reuters) - Russian oil company Tatneft denied on Monday it had agreed to develop an oil field in Iran.
"Tatneft Group have not entered into any agreements, contracts and have not accepted any other undertakings relating to oil and gas projects in Iran," it said in a statement.
Russia Urals exports to slip by 1.4 pct in Q1-schedule
MOSCOW, Dec 19 (Reuters) - Exports of Russian Urals crude via the Transneft pipeline system will fall to 52.4 million tonnes in the first quarter of 2012, down 1.4 percent from the final quarter of 2011, the loading schedule showed on Monday.
Urals exports to all destinations will decline, except for the Russian Baltic port of Primorsk, where loadings will increase by 1.7 percent to 17.5 million tonnes in the first three months of the year.
Woodside may delay decision on Australia's Browse LNG
PERTH, Dec 19 (Reuters) - Woodside Petroleum warned on Monday it may need to delay a final investment decision on Australia's huge Browse LNG project by nearly a year to the first half of 2013, sending shares in the energy firm down over 3 percent.
A delay had been predicted by analysts and Woodside said the Browse Basin partners planned to seek an extension to lease terms, which currently require them to make a final investment decision by mid-2012.
Petrochina's crude output reaches 2.15 mln bpd -paper
BEIJING, Dec 19 (Reuters) - PetroChina will have produced 107.53 million tonnes or 2.15 million barrels per day of crude oil this year, up 2.12 million tonnes from a year earlier, the China Petroleum Daily reported on Monday.
This was the second year that the increase in crude oil production by the top Chinese oil producer surpassed 2 million tonnes, according to the newspaper, which is run by parent China National Petroleum Corp (CNPC).
S.Korea's Hyundai Heavy wins $1 billion offshore platform deal in Nigeria
SEOUL, Dec 19 (Reuters) - Hyundai Heavy Industries , the world's largest shipbuilder, has won an about $1 billion worth deal to build an offshore gas platform for a field in Nigeria for a U.S. oil major, a source said on Monday.
The source with knowledge of the matter did not identify the U.S. company due to the confidentiality of the issue.
Protests spread in troubled Kazakh oil region
AKTAU, Kazakhstan, Dec 18 (Reuters) - Hundreds of demonstrators confronted riot police on Sunday as Kazakhstan's biggest protests in decades spread to the capital of a western oil region where 15 people have been killed in clashes.
The unrest in Mangistau region, triggered by the sacking of oil workers, is the worst to hit Kazakhstan in the 20 years since it gained independence with the collapse of the Soviet Union.
Blast hits Egypt's gas pipeline to Jordan, Israel
CAIRO, Dec 18 (Reuters) - An Egyptian pipeline carrying gas to Israel and Jordan was bombed on Sunday, the 10th such attack this year, but no fire erupted because the line that runs through North Sinai was already disabled, a security source said.
The blast took place in an area five km (three miles) south of the Mediterranean coastal town of al-Arish.
REFINERY NEWS: Idemitsu restarts Aichi secondary unit
TOKYO, Dec 19 (Reuters) - Japanese oil refiner Idemitsu Kosan Co said it restarted on Sunday a resid hydroprocessing unit at its 160,000 barrels per day Aichi refinery, in central Japan, after it halted the unit due to operational trouble on Saturday.
Idemitsu expects the unit to return to normal operations by Dec. 26, a company spokesman said on Monday.
Japan's Toa Oil plans CDU maintenance in 2012
TOKYO, Dec 19 (Reuters) - Japanese refiner Toa Oil Co plans to shut the 65,000 barrels-per-day crude distillation unit (CDU) at its Keihin refinery, near Tokyo, from April to mid-May 2012 for maintenance, an industry source familiar with the matter said on Monday.
The medium-scale turnaround of the plant's sole CDU is expected to last about a month and a half, the source said.
Japan's Fuji Oil to skip CDU turnaround in 2012
TOKYO, Dec 19 (Reuters) - Japan's Fuji Oil Co Ltd will skip planned maintenance on the sole 140,000 barrels per day (bpd) No. 2 crude distillation unit (CDU) at its Sodegaura refinery in eastern Japan in 2012, an industry source familiar with the matter said on Monday.
It will next conduct major maintenance on the CDU in May-June 2013, the source added.
Valero reports DCU snag at Port Arthur refinery
Dec 19 (Reuters) - Valero Energy Corp reported a delayed coking unit (DCU) snag on Sunday at its 287,000 barrel-per-day refinery in Port Arthur, Texas, according to a filing with the U.S. National Response.
"A delayed coker unit blew a water seal which caused a release of wet gas resulting in a flare," the filing showed.
Japan Teiseki sees 2012 CDU turnaround from mid-May
TOKYO, Dec 19 (Reuters) - Japan's Teiseki Topping Plant Co aims to shut a 4,724 barrels-per-day crude distillation unit (CDU) at its Kubiki plant in Niigata prefecture in northern Japan for planned turnaround from mid-May until early June, a company official said on Monday.
The Teiseki Topping Plant, which belongs to the Inpex Corp group, Japan's top oil and gas developer, is the only refinery in the nation that processes domestically produced crude.
BEYOND THE HEADLINES: Abu Dhabi's NPCC eyes ADNOC oil projects
ABU DHABI, Dec 19 (Reuters) - Abu Dhabi-based oil and gas services contractor National Petroleum Construction Company hopes the launch of a number of big projects in the Emirates next year will boost revenue after a flat 2011.
"At least four to five mega projects will be launched by Abu Dhabi National Oil Company (ADNOC) with huge packages in billions of dollars and we see opportunities there", chief executive Aqeel Madhi told Reuters in an interview.
Bulgaria steps up work on gas links with neighbours
SOFIA, Dec 16 (Reuters) - Bulgaria is stepping up work to build new gas links to allow Caspian gas flows to southeast Europe and lessen the region's dependence on Russian supplies, the head of the state energy company told Reuters on Friday.
BEH Chief Executive Jordan Georgiev said the Balkan country, almost fully dependent on Gazprom gas imports, plans to have gas interconnector links with neighbouring Greece and Turkey ready by the end of 2013.
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EVENTS TO WATCH TODAY (EST) U.S. NAHB HOUSING MARKET INDX DEC (1000) U.S. USDA EXPORT INSPECTIONS WEEKLY (1100)
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