MARKET WATCH: Pipeline sabotage lifts oil prices
April 8, 2008 pada 4:47 am | Ditulis dalam Berita Energi, Migas | Tinggalkan KomentarKaitkata: oil, pipeline, sabotage
Sam Fletcher
Senior Writer
HOUSTON, Mar. 28 — The near-month benchmark US crude contract jumped above $107/bbl Mar. 27 in the New York market following reports of the bombing of one of the primary export oil pipelines in southern Iraq.
But oil prices fell back below that level in early trading Mar. 28 when Iraq officials reported that the transport of oil through that pipeline system was back to normal. The sabotaged pipeline moves oil from the Zubair field to the Al-Faw storage facility for export through the Basra terminal (OGJ Online, Mar. 28, 2008). The amount of
oil disrupted by the sabotage was earlier estimated at 130,000 b/d.
Oil is “at a turning point” for a $10/bbl move in either direction, depending on the strength or weakness of the US dollar, said Olivier Jakob at Petromatrix, Zug, Switzerland. “The dollar index is now back to testing the record-low support, and it will remain the trigger for West Texas Intermediate to test the record high resistance. If the euro manages to climb towards $1.60, WTI will break $110/bbl towards $115/bbl, and if the dollar manages to rebound like in mid-March, WTI will break $100/bbl towards $95/bbl.”
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Indonesia aims to boost oil, gas production in 2008
April 8, 2008 pada 4:01 am | Ditulis dalam Berita Energi, Energy Policy, Migas | Tinggalkan KomentarKaitkata: gas, oil, Production
Eric Watkins
Senior Correspondent
LOS ANGELES, Apr. 3 — Indonesia’s state-owned PT Pertamina aims to increase production of crude oil and natural gas in 2008, despite falling short of planned output in both areas during 2007.
Pertamina Pres. Director Ari H. Soemarno told a parliamentary oversight committee that the firm would produce some 65.72 million bbl of crude oil in 2008, about 25.73% more than the 52.27 million bbl produced in 2007, which fell 8% short of the 56.57 million bbl targeted for the year.
Pertamina also failed to achieve its 2007 gas production target of 519.68 bscf, producing 405.71 bscf, around 22% less than expected. For 2008, Pertamina has set a gas production target of 438.05 bscf, about 16% lower than planned for 2007.
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Indonesia ups Apr oil imports to 12.17 mln bbls
April 8, 2008 pada 2:50 am | Ditulis dalam Berita Energi, Energy Policy, Migas | Tinggalkan KomentarKaitkata: import, oil, Pertamina
SINGAPORE, March 18 (Reuters) – Indonesia’s state oil company PT Pertamina will import a higher-than-expected 12.17 million barrels of oil products in April, up 4.2 percent from purchases for March delivery, industry sources said on Tuesday.
Pertamina had said in late February fuel imports were expected to be 11.5-11.6 million barrels in April.
The volumes, stronger than March imports of 11.68 million barrels, will help buoy Asian distillate prices at a time of robust demand within the region and beyond.
“Domestic supply is not enough due to some minor refinery problems. That has been already ironed out but demand is looking good for transportation fuels,” said a Pertamina source, who declined to be identified.
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