NYMEX-Natural gas slides for 5th day, hits 28-mth low
NEW YORK, Jan 13 (Reuters) - U.S. natural gas futures slid a modest 1 percent on Friday, ending a five-day, nearly 13 percent losing streak close to their lowest level in 28 months.
"In the end gas made another new intraday life-of-contract low, with the shorts seemingly heading home for the long weekend still comfortable with their positions," Chirichella noted.
Euro Coal-Prices slide after S&P downgrade hits euro
LONDON, Jan 13 (Reuters) - Prompt physical coal prices dropped by around $2.00 a tonne on Friday after reports that credit rating agency Standard & Poors is set to downgrade several euro zone countries.
"The entire coal market's coming off, API2 swaps were smashed today after the (reports of a possible) S&P downgrade came out," one European trader said.
COMMODITIES-End volatile week down on Europe worries
NEW YORK, Jan 13 (Reuters) - Commodities slid on Friday, ending a volatile week where oil and grains initially surged on supply concerns and a weak dollar, before tumbling on the currency's rebound and renewed worries over Europe.
"While it should be anticlimatic, the realization will also be sobering. In particular, the flight to the dollar will be accelerated, pushing crude oil prices lower," said John Kilduff, partner at Again Capital LLC in New York.
GLOBAL MARKETS-Shares fall as S&P's euro zone downgrades rekindle fears
TOKYO, Jan 16 (Reuters) - Asian shares fell on Monday on heightening worries that the mass sovereign debt rating cuts by Standard & Poor's would further aggravate euro zone funding difficulties and recapitalization, threatening to derail progress in resolving the debt crisis.
"Downgrades and Greece restructuring risks are likely to bring volatility," said analysts at Barclays Capital in a research note.
Nigerian president and unions fail to strike deal
ABUJA, Jan 16 (Reuters) - President Goodluck Jonathan and labour unions failed in overnight talks to reach a compromise over the removal of fuel subsidies that has raised fears of a shutdown of Nigeria's oil industry, union and presidency sources said on Monday.
Jonathan was expected to make a public address later on Monday and unions declined to comment until he had spoken.
Oil groups set to bid for Anadarko's Brazil arm-FT
LONDON, Jan 15 (Reuters) - Three of Europe's biggest oil companies are expected to bid for Anadarko Petroleum's Brazilian business, the Financial Times reported on Sunday.
The newspaper cited people with knowledge of the talks as saying France's Total , the Norwegian state-controlled energy group Statoil and Denmark's Maersk Oil , are expected to compete for the business.
Sudan says taking some S.Sudan oil but won't close pipe
KHARTOUM, Jan 15 (Reuters) - Sudan said on Sunday it has started confiscating some oil exports from South Sudan that it believes it is owed to meet unpaid transit fees but will not shut down a pipeline carrying the southern state's oil.
The United States said Sudan's move added to tensions with South Sudan, which became independent in July under a 2005 peace deal with Khartoum that ended decades of civil war. North and South Sudan have failed to sort out a long list of disputes.
BP eyeing support for European refiner Petroplus
LONDON, Jan 15 (Reuters) - BP is considering possible measures to support cash-strapped European refiner Petroplus , on whom the oil giant relies upon to supply its UK refined products retailing network, industry sources said.
Petroplus has been forced to shut down three refineries and to halve output at two others after lenders cut its credit lines. Analysts say a financing deal is required soon to allow the company to continue operating.
Sudan to boost oil output to 180,000 bpd in 2012
KHARTOUM, Jan 15 (Reuters) - Sudan plans to increase oil production to 180,000 barrels a day by the end of the year due to new finds and using more efficient technology to improve the recovery rate, a senior official said on Sunday.
Sudan lost two thirds of the around 490,000 barrels a day of oil production when South Sudan became independent in July under a 2005 peace agreement that ended decades of civil war.
Mexico pipeline oil spill may take month to clean
MEXICO CITY, Jan 14 (Reuters) - Two weeks after a pipeline leak in coastal Mexico sent oil gushing into a river, state oil monopoly Pemex has recovered about two-thirds of the spilled crude, but the full clean-up could take another month.
Mexico's environmental protection agency, Profepa, is supervising containment of the 1,500-barrel spill that killed fish, injured wildlife and left greasy slicks in the Coatzacoalcos river.
Saudi ready to meet a rise in oil demand- Naimi
DHAHRAN, Saudi Arabia, Jan 14 (Reuters) - Top oil producer Saudi Arabia is ready to meet any increase in consumer countries' demand for crude oil, oil minister Ali al-Naimi told reporters on Saturday.
Saudi Arabia is "always obliged" to meet demand, Naimi said when asked whether the kingdom has enough spare capacity to cover demand in light of possible oil sanctions by the West on Iran's crude oil sales.
India's OVL, GAIL eye UK's Cove Energy in $1.2 bln deal-paper
MUMBAI, Jan 14 (Reuters) - India's ONGC Videsh Ltd (OVL), the overseas investment arm of state-run explorer Oil and Natural Gas Corp , and GAIL India are making a joint bid to acquire UK-based Cove Energy Plc , a newspaper reported on Saturday.
The deal is valued at over $1.2 billion, the Times of India said, citing sources briefed on the matter.
BEYOND THE HEADLINES:
Iran warns of consequences if Arabs back oil sanctions
TEHRAN, Jan 16 (Reuters) - Iran warned Gulf Arab neighbours they would suffer consequences if they raised oil output to replace Iranian crude facing an international ban.
In signs of Tehran's deepening isolation over its refusal to halt nuclear activity that could yield atomic bombs, China's premier was in Saudi Arabia on Sunday probing for greater access to its huge oil and gas reserves and Britain voiced confidence a once hesitant EU would soon ban oil imports from Iran.
Brazil to approve new oil auctions
ABU DHABI, Jan 15 (Reuters) - Brazil's President Dilma Rousseff will approve the country's 11th oil rights concession auction "within weeks," Energy Minister Edison Lobao told Reuters on Sunday, opening the door to the first major offer of Brazilian petroleum exploration rights in more than four years.
At the auction, Brazil expects to sell rights to explore for and exploit oil and natural gas in 174 areas, half offshore and half on land, the 11th such auction since it ended state-led Petrobras' monopoly and opened the country to outside investment in the late 1990s.
Yemen to negotiate with oil pipe attackers
ABU DHABI, Jan 15 (Reuters) - Yemen's new unity government hopes to convince tribesmen to stop blowing up the country's main oil pipeline so it can reopen its refinery and slash fuel imports, Yemen's new oil minister said on Sunday.
Yemen's Aden oil refinery has been unable to produce fuel for the local population since November 2011 after the country's biggest oil pipeline from the Marib fields was blown up in a series of attacks by tribesmen opposed to President Ali Abdullah Saleh.
Freepoint Commodities CEO says targets oil, coal as firm grows
Jan 13 (Reuters) - David Messer, one of the founders of the trading firm that grew to be RBS Sempra and now CEO of Freepoint Commodities, told Reuters on Friday his company is pushing into oil and coal markets as it branches into Europe and Asia.
Launched less than 12-months ago with private equity backing from the $10 billion Stone Point Capital fund, Connecticut-based Freepoint is already expanding its 'physical commodity merchant' model from North American power and gas into distillates, fuel oil, European crude, and possibly coal.
UK oil and gas decline to halt as investment booms
LONDON, Jan 13 (Reuters) - British oil and gas tax revenues could rise by billions of pounds this year as high oil prices boost earnings and tempt operators into opening new fields after a decade of sharp declines, industry data and Reuters research showed.
The past two years of investment have set the stage for a landmark shift in the North Sea, following exceptionally dismal data in 2011 when oil and gas production in the third quarter slumped at the fastest rate since records began in the mid-1990s, research by consultancy Wood Mackenzie suggested.
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