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Yes, PIPELINES do solve problems!;)
Hormuz Bypass Oil Pipeline Is Delayed

 By Bruce Stanley, Ayesha Daya and Anthony DiPaola - Jan 9, 2012 5:26 AM ETMon Jan 09 10:26:14 GMT 20
Jan. 9 (Bloomberg) -- Lara Setrakian reports on the outlook for Iran to close the Strait of Hormuz as Europe prepares to follow tougher U.S. sanctions on the country over its nuclear program and the status of a pipeline that would allow oil from the United Arab Emirates to bypass the waterway. The pipeline has been delayed because of construction difficulties, two people with knowledge of the matter said. Setrakian speaks with Linzie Janis on Bloomberg Television's "Countdown." (Source: Bloomberg)

As many as 270 construction issues have pushed back the completion date, said the two people, declining to be identified because they’re not allowed to speak publicly on the matter. The $3.3 billion project won’t be ready until at least April, one of them said. Abu Dhabi, holder of most of the U.A.E.’s crude reserves, had planned to start exports in January 2011 through the pipeline to a port outside the strait, Dieter Blauberg, the project’s former director, said in May 2009.
“The pipeline is almost complete, so hopefully it will be operational, say, within six months, by May-June,” U.A.E. Oil Minister Mohamed al-Hamli told reporters in Abu Dhabi today, confirming more time is needed to finish it. “It’s a big project, there’s a lot to do.”
PLAY VIDEO! http://www.bloomberg.com/video/83880880/

http://www.bloomberg.com/news/2012-...peline-delayed-as-iranian-tensions-mount.html
 
Jan. 10, 2012, 10:35 a.m. EST
Oil futures gain, looking to China for cues


By Claudia Assis and Virginia Harrison, MarketWatch
SAN FRANCISCO (MarketWatch) — Crude-oil futures gained Tuesday as negative trade data from China spurred hopes of some stimulative action there, while geopolitical tensions helped keep prices firmly in the triple digits.
Crude for February delivery added $1.45, or 1.4%, to $102.84 a barrel on the New York Mercantile Exchange.
http://www.marketwatch.com/story/oi...c-trading-2012-01-10?link=MW_home_latest_news
 
Thanks Coolhand!
smileydance.gif
North Dakota Surpasses OPEC Member Ecuador in Oil Production


By Joe Carroll - Jan 10, 2012 4:37 PM ETTue Jan 10 21:37:20 GMT 2012


North Dakota oil production surged 42 percent to 510,000 barrels a day in November, exceeding the output of OPEC member Ecuador, as energy explorers accelerateddrilling in the Bakken Shale formation.
The state’s daily crude output topped a half-million barrels for the first time during the month, North Dakota’s Oil and Gas Division said today in a statement. North Dakota’s 6,300 wells produced enough oil to displace imports from foreign suppliers such as Iraq or Colombia, Lynn Helms, division director, said in the release.
Oil producers including EOG Resources Inc. (EOG) and Continental Resources Inc (CLR). have spurred a five-fold increase in North Dakota’s oil output by using intensive drilling practices to tap the Bakken, a geologic formation that stretches from southern Alberta to the northern U.S. Great Plains. It’s estimated to hold as much as 4.3 billion barrels of tecnically recoverable oil in North Dakota and Montana, according to a 2008 report by the U.S. Geological Survey.
http://www.bloomberg.com/news/2012-...ction-jumps-42-as-shale-drilling-expands.html
 
[TABLE="class: tablewrapper"]
[TR]
[TD="class: econo-reportname, colspan: 2"]EIA Petroleum Status Report
[/TD]
[/TR]
[TR]
[TD="colspan: 2"]

[TABLE="class: actual_consensus_box"]
[TR="class: actual_consensus_toprow"]
[TD]		Prior
Actual
Crude oil inventories (weekly change)
Gasoline (weekly change)
Distillates (weekly change)

[TD="class: econo-releaseinfo"] Released on 1/11/2012 10:30:00 AM For wk1/6, 2012
[/TD]

[TD="class: actual_consensus_box_numbers"]2.2 M barrels
[/TD]
[TD="class: actual_consensus_box_numbers"] 5.5 M barrels
[/TD]

[TD="class: actual_consensus_box_numbers"]2.5 M barrels
[/TD]
[TD="class: actual_consensus_box_numbers"] 3.6 M barrels
[/TD]

[TD="class: actual_consensus_box_numbers"]3.2 M barrels
[/TD]
[TD="class: actual_consensus_box_numbers"] 2.8 M barrels
[/TD]
Oil should drop on this rise in inventories.:cool:
[/TD]
[/TR]
[/TABLE]
http://www.bloomberg.com/markets/economic-calendar/
[/TD]
[/TR]
[/TABLE]
 
Jan. 11, 2012, 1:09 p.m. EST
Crude slips, caught by lower euro, supply data

Natural gas at lowest since September 2009 on weather, production
By Claudia Assis and V. Phani Kumar, MarketWatch

SAN FRANCISCO (MarketWatch) — Crude-oil futures declined Wednesday, giving back some of the previous day’s gains, on a stronger dollar and a surprise jump in the nation’s crude inventories.

Prices came off lows, however, as traders took heart that a higher-than-expected refinery utilization rate is an indication of continued strong demand.
Crude for February delivery declined 27 cents, or 0.3%, to $101.96 a barrel on the New York Mercantile Exchange.
http://www.marketwatch.com/story/cr...s-futures-2012-01-11?link=MW_home_latest_news
 
Jan. 12, 2012, 10:37 a.m. EST
Oil rises on weaker dollar, Europe bond auction


By Claudia Assis and V. Phani Kumar, MarketWatch

SAN FRANCISCO (MarketWatch) — Crude-oil futures advanced Thursday as the U.S. dollar eased and debt auctions in Spain and Italy went relatively well, taking off some euro-zone risk off the table.
Crude-oil futures for February delivery rose $1.67, or 1.7%, to $102.53 a barrel on the New York Mercantile Exchange.
http://www.marketwatch.com/story/oil-rises-on-weaker-dollar-ahead-of-ecb-2012-01-12
 
Chickens!:cheesy:
Jan. 12, 2012, 4:20 p.m. EST
Oil sharply pulls back as embargo talk eases

Natural gas tumbles amid warm weather, supply glut

By Laura Mandaro and Claudia Assis, MarketWatch

SAN FRANCISCO (MarketWatch) — Crude-oil futures fell 1% to close under $100 a barrel Thursday, making a swift retreat in the final minutes of trading after a report that Europe would put off an embargo on Iranian oil imports.
http://www.marketwatch.com/story/oil-rises-on-weaker-dollar-ahead-of-ecb-2012-01-12?dist=afterbell
 
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