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Oil and Gas News from Daily Energy Digest
Canadian Wellsite.com
Monday,
December 12, 2005
OPEC’s
president says no need to change output at least for 1st quarter of
2006
KUWAIT CITY (AP) — OPEC’s president, backed by oil heavyweight Saudi
Arabia, said Sunday there was no need for the powerful group to change
output at least for the first quarter of 2006.
The Organization of Petroleum Exporting Countries is pumping some 30
million barrels a day of crude, a third of the world’s need. Most of
the organization’s 11 countries are producing to capacity to meet
strong demand from the United States, China and India, among others.
Speaking on the eve of Monday’s meeting on production and pricing,
Sheik Ahmed Fahd Al Ahmed Al Sabah, OPEC’s president and Kuwait’s oil
minister, said his call for maintaining the present output likely
would be supported.
Calgary-based Husky Energy gets approval for northern Alta. Sunrise
project
CALGARY (CP) — Husky Energy Inc. says the Alberta Energy and Utilities
Board has approved the commercial application for its Sunrise Oil
Sands Project, located 60 kilometres northeast of Fort McMurray, Alta.
The company made the announcement in a news release Sunday.
Husky, which holds a 100 per cent interest in the Sunrise lease,
intends to develop the 200,000 barrel per day project in phases.
The EUB approval relates to Husky’s bitumen extraction plans, and
Husky is completing its alternatives for upstream development,
upgrading, transportation and marketing of the produced bitumen.
“We are pleased that the Sunrise Oil Sands Project has received
regulatory approval in a timely fashion,” said John Lau, Husky’s
president and CEO.
“Husky now looks forward to successfully developing this world-class
asset in a prudent manner that maximizes shareholder value.”
The news release said Husky has worked closely with various
stakeholders, including aboriginal bands, to address issues related to
the proposed development.
Petroleum cash prices
NEW YORK (AP) — Petroleum cash prices Friday compared with Thursday
Fri. Thu.
Refined Products
Fuel oil No. 2 NY hbr bg gl fob 1.6731 1.7232
Gasoline unl prem RVP NY hbr bg gl fob 1.7274 1.7491
Gasoline unl RVP NY hbr bg gl fob 1.5824 1.5916
Prices provided by Moneyline Telerate
x- prices are for RVP grade of gasoline
Petroleum - Crude Grades
Dubai $ per bbl fob 55.95 54.41
North Sea Brent $ per bbl fob 56.97 56.31
West Texas Intermed $ per bbl fob 59.40 60.67
Light LA Sweet $ per bbl fob 59.40 60.67
Alaska No. Slope del. West Coast 57.24 58.51
Raw Products
Natural Gas, Henry Hub, $ per mmbtu 15.11 14.29
n.a.-not available-n.q. not quoted.
r-revised.
b-bid a-asked.
n-nominal
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