The 3 Week Diet System

Saturday, September 10, 2011

Total Makes ‘Major’ Natural-Gas Discovery in Caspian Sea Off Azerbaijan

By Stephen Bierman and Zulfugar Agayev - Sep 9, 2011 9:50 AM GMT-0500

Total SA (FP)Europe’s third-biggest oil company, has made a “major” natural gas discovery in the Caspian Sea off Azerbaijan that may boost supplies of the fuel pumped to the European Union.
“This discovery could be very significant in terms of resources,” Marc Blaizot, Total vice president for exploration, said in an e-mailed statement. The Absheron block well’s first results show a potential of several trillion cubic feet of gas and associated condensates, the company said.
The European Union wants to bring gas supplies from Azerbaijan and the Caspian Sea basin to replace dwindling North Sea output and reduce reliance on Russia and North Africa.
“Total’s Absheron discovery is extremely significant,” Jennifer Coolidge, executive director of CMX Caspian and Gulf Consultants Ltd., said today by e-mail. “It means the total quantity of gasAzerbaijan will seek to move westward through the Southern Corridor to Europe should increase, benefiting pipeline projects designed for larger-scale deliveries or multiple pipeline projects.”
State Oil Co. of Azerbaijan, also known as Socar, said in June the country would have 25 billion to 30 billion cubic meters of gas for export by 2020-2025. Azerbaijan has guaranteed 10 billion cubic meters of gas a year for Europe from the second phase of the BP-led Shah Deniz deposit.

President ‘Confident’

“I am confident that all transit issues will be resolved by year-end and new markets will be found for Azeri gas,” Azeri President Ilham Aliyev told state news agency Azertac. “This will certainly boost the importance of our state.”
Transit projects such as the OMV AG-led Nabucco pipeline, the Trans-Adriatic Pipeline managed by Statoil ASA (STL) and EON AG, and a third link led by Edison SpA, Depa SA and Boru Hatlari Ile Petrol Tasima AS are vying to carry Azeri output to Europe.
Nabucco has the largest projected capacity among them, seeking to transport 30 billion cubic meters of the fuel.
Total operates the Absheron development with a 40 percent interest. The other shareholders are Socar with 40 percent and GDF Suez (GSZ) SA with 20 percent.
The find at Absheron, which was previously abandoned by a Chevron Corp-led group that included Total, marks a second success since Socar announced a gas find at the Umid structure in November.
Socar estimates the field holds 300 billion cubic meters of gas, according to a presentation.

Saudi Arabia Oil Port May Have Loaded 7.6 Million Barrels a Day

By Rob Sheridan - Sep 9, 2011 11:56 AM GMT-0500
Oil tankers that can carry about 7.6 million barrels a day went to Saudi Arabia’s Ras Tanura, the world’s largest export facility for crude oil, last week, ship- tracking data compiled by Bloomberg show.
Vessels with a combined capacity of at least 7.3 million deadweight tons were at the facility from Aug. 28 to Sept. 3. To estimate what that equates to in barrels a day, the figure was first multiplied by 7.33 to calculate the total barrels, and then divided by seven, the number of days in the period.
Japan will get the largest share of shipments loaded this week. Supertankers with a combined capacity of 2.4 million tons, carrying about 17.6 million barrels of crude, are sailing to the country after going to the terminal. ChinaSouth Korea and the U.S. will get three tankers each, according to data captured by satellites and shore-based antennae.
Following are the ships loading in Saudi Arabia and the companies that hired them and their estimated time of arrival, where data are available. Drafts are expressed as a percentage of maximum sailing depth and are an indication of cargo size.
Vessel Name         Charterer DWT       ETA       Draft

Astro Chloe         Reliance  318,440   Oct. 4    95

Xin Yue Yang        Unipec    297,232   Sept. 20  95
New Vista           Unipec    297,252   Sept. 23  93
Chang Jiang Zhi Hui Unipec    296,481   Sept. 20  94
Total                         890,965

Maersk Newton       CPC       307,284   Sept. 11  98

Maersk Sara         ExxonMobil323,182   Oct. 8    93

Maharshi Parashuram Reliance  93,322    Sept. 13  96

Tohshi              S-Oil     300,363   Sept. 26  98
Nichihiko           Thaioil   281,705   Sept. 25  98
Toba                ExxonMobil299,980   Sept. 22  98
Kou-Ei              Thaioil   279,999   Sept. 22  99
Kaminesan           SK        303,896   Sept. 24  98
Starlight Venture   Fuji      317,970   Sept. 28  64
C Majesty           Idemitsu  316,427   Sept. 22  90
Maersk Hakata       Fuji      302,550   Sept. 19  96
Total                         2,402,890

Arena XXVII         BP        307,190   Sept. 16  85

Constantinos        Petrobras 73,307    Sept. 15  82

Saudi Arabia
Stavanger Bliss     Chevron   105,400   Sept. 11  87

Front Tina          Chevron   298,824   Sept. 20  95

South Korea
Universal Prime     Reliance  299,985   Oct. 2    94
Blue Pearl          Ssangyong 321,050   Sept. 24  87
Kai-Ei              Caltex    299,997   Jan 1, 2012    95
Total                         921,032

New Valor           CPC       284,631   Sept. 18  97

Gemini Voyager      Reliance  310,139   Oct. 9    96
Habari              Reliance  317,664   Oct. 15   95
Janah Star          PetroChina319,464   Oct. 18   95
Total                         947,267

Gulf Gasoline Slips as Nate Storm Threat Diminished to Refiners

By Paul Burkhardt - Sep 9, 2011 12:48 PM GMT-0500

Gulf Coast gasoline weakened on speculation that Tropical Storm Nate won’t impair production by U.S. refiners in the region.
The government of Mexico issued hurricane watches for the southeastern coast from Tampico to Veracruz as Tropical Storm Nate moved northwest through the Bay of Campeche toward an expected landfall in Mexico as soon as Sept. 11, the U.S. National Hurricane Center said in an advisory at about 10:40 a.m. East Coast time.
“The storm headed into Mexico is unlikely to affect refinery operations here,” said Andy Lipow, president of Lipow Oil Associates LLC in Houston.
The discount for reformulated 87-octane gasoline in the Gulf Coast widened 0.62 cent to 1 cent a gallon versus futures traded on the New York Mercantile Exchange at 12:38 p.m., according to data compiled by Bloomberg. Prompt delivery fell 12.13 cents to $2.7602 a gallon.
The same fuel in New York Harbor fell 2 cents to 14.5 cents a gallon. It’s the lowest premium since Aug. 31.

DOE Supports Project to Cut Solar Power Photovoltaic Wafer Costs 50%

september 10, 2011

Energy Secretary Steven Chu had a crowded slate Thursday as the DOE announced a series of clean energy financing initiatives aimed at spurring solar energy, geothermal energy, offshore wind power and electric vehicles.
DOE Supports Project to Cut Solar Power Photovoltaic Wafer Costs 50%
U.S. Energy Secretary Steven Chu finalized a $150 million loan guarantee to 1366 Technologies, Inc. for the development of a multicrystalline wafer manufacturing project that could significantly drive down the costs of solar manufacturing. The project will be capable of producing approximately 700 to 1,000 megawatts (MW) of silicon-based wafers annually using a revolutionary manufacturing process called Direct Wafer. The innovative process could reduce manufacturing costs of the wafers by approximately 50 percent, dramatically cutting the cost of solar power. Phase 1 of the project will be located in Lexington, Massachusetts and is expected to fund 70 permanent jobs and 50 construction jobs. The company is evaluating site locations for another planned phase, which they anticipate will fund hundreds of additional jobs.

“This project is a good example of how investments in American innovation can create jobs and make our manufacturing industry more competitive,” said Secretary Chu. “This type of pioneering technology is needed to compete and thrive in the global race for solar manufacturing, a market worth billions of dollars and tens of thousands of jobs in the years ahead.”

The original development of the company’s Direct Wafer technology was supported with a $4 million grant from the Department’s Advanced Research Projects Agency - Energy program and a $3 million grant from the Department’s Office of Energy Efficiency and Renewable Energy. The innovative manufacturing process reduces four separate manufacturing steps into a single, low cost continuous process and greatly reduces silicon waste by forming individual wafers directly from a bath of molten silicon. A thin sheet of silicon freezes inside the direct wafer furnace and is then removed and laser-trimmed to size. At full production, the entire wafer formation process is completed in just 25 seconds when compared to conventional batch processing, which can take up to three days. The company’s revolutionary one-step process requires 90 percent less energy and results in an industry-standard product that can be used by multicrystalline cell manufacturers.

The Department of Energy's Loan Programs Office (LPO) administers three separate programs: the Title XVII Section 1703 and Section 1705 loan guarantee programs, and the Advanced Technology Vehicle Manufacturing (ATVM) loan program. The loan guarantee programs support the deployment of commercial technologies along with innovative technologies that avoid, reduce, or sequester greenhouse gas emissions, while ATVM supports the development of advanced vehicle technologies. To date, LPO has issued loans, loan guarantees or offered conditional commitments for loan guarantees totaling nearly $40 billion to support more than 40 clean energy projects across the United States. LPO has issued conditional commitments or loan guarantees to support numerous projects, including several of the world’s largest solar generation facilities, three geothermal energy projects and the world’s largest wind farm.

India to add 20,000 MW nuclear power capacity by 2020

, TNN | Sep 9, 2011, 05.25PM IST

PUNE: India has chalked out a largely indigenousnuclear power programme and expects to have 20,000 MW nuclear capacity on line by 2020 and 63,000 MW by 2032. Foreign technology and fuel are expected to boost India's nuclear power plans considerably.

The country aims to supply 25 per cent of electricity from nuclear power by 2050. India's fuel situation, with shortage of fossil fuels, is driving the nuclear investment for electricity for 2050 when 1094 GWe (Giga Watt Electricity) of base-load capacity is expected to be required.

However, Nuclear Energy has become a controversial subject after the recent earthquake in Japan and particularly after the incident of Fukushima. India Nuclear Energy 2011 International Exhibition and Conference scheduled from 29 September 2011 to 1 October 2011 at Bombay Exhibition Center, Mumbai, will provide a global platform for showcasing latest cutting edge nuclear technology and component supplying companies as well as raw material suppliers.

The meet, co-partnered by Department of Atomic Energy(DAE), the nodal Government in the Indian Nuclear Energy sector and supported by Indian Nuclear Society (INS), will have participation from government and private sector companies including DAE, NPCIL, BHEL, L&T, GMR, Areva, GE, Westinghouse and Alstom. Srikumar Banerjee, Chairman Atomic Energy Commission, shall deliver the keynote address for the summit on 29 September 2011.


Canada shifts away from coal fired energy

Saturday, 10 Sep 2011

Megawatt Daily reported that Canadian government has said it plans to phase out coal-fired electricity by 2015 in a bid to significantly reduce greenhouse gas emissions.

The draft regulation, which is expected to be finalized by 2012, calls for all new coal fired power plants to meet emission performance standards. The government said this is part of a slow phase out process, in order to avoid an electricity price shock.

Environment minister Mr Peter Kent said that “These proposed regulations take into account the fact that many electricity facilities across Canada are old and need to be replaced soon.”

He added that “We're acting now to ensure that power companies understand today, the rules that will affect the new investments they have to make tomorrow. It allows for an orderly process the bedrock of certainty. We want to encourage the shift to cleaner alternatives and to ensure money is spent on clean technology and innovation like carbon capture and storage.”

(Sourced from

Egypt and Jordan gas deal expected within days

A long awaited natural gas deal between Egypt and Jordan is expected to be finalized within a week, pending approval from Cairo.

Mr Khaled Toukan minister of energy and Mineral Resources said that Egyptian and Jordanian officials are days away from signing an amended natural gas agreement which was ratified by the Cabinet late last month. Constitutionally, everything is set from our part and we are awaiting approval from the Egyptian government.

Mr Toukan said that once the agreement is signed and ratified, Egypt is to supply Jordan with 150 million cubic feet of natural gas per day, a quantity that is to reach 220 million cubic feet by 2012. The agreement, which brings to an end a favorable pricing structure under which Amman received gas at prices less than half of the international rate includes safeguards stipulating penalties should the supply dip below 175 million cubic feet per day.

As part of the revamped deal starting in 2013, Cairo is to supply Amman with additional gas quantities as compensation for the multiple disruptions in supply caused by five separate acts of sabotage on the Arab Gas Pipeline earlier this year. Separate attacks on the pipeline in the Sinai Peninsula in February, April and July forced the Kingdom's power plants on their diesel and heavy oil reserves at a cost of around JOD 3 million per day.

According to finance ministry estimates, the disruptions in Egyptian gas supplies which Jordan relies on for 80% of its electricity generation needs cost the Kingdom a total of JOD 637 million in the first half of the year. An increased military presence in the Sinai region, combined with Egyptian authorities recent foiling of a sixth sabotage attempt have assured energy officials in Amman of the supply's stability.

Mr Toukan said that we are more confident of recent measures taken by our Egyptian counterparts and are looking forward to resuming pumping. Currently the Kingdom receives 80 million cubic feet of Egyptian gas per day around one third of the amount stipulated in the original 12 year agreement.

Meanwhile, the ministry has received over a dozen expressions of interest for the supply of liquefied gas with Amman set to release a request for a proposal for the construction of an offshore terminal in the Port of Aqaba by the end of the year.

The drive for liquefied gas comes as energy officials attempt to address a five year gap ahead of the development of domestic energy resources including wind, oil shale and nuclear power. Jordan imports 97% of its energy needs at a cost of one fifth of the gross domestic product.

(Sourced from Jordan Times)

UPDATE 1-US natgas rig count falls by 3 to 892-Baker Hughes

Fri Sep 9, 2011 5:26pm GMT

* Gas-drilling rig count slips for third straight week
   * Horizontal rigs fall after record high two week's ago
 (Adds price reaction, details, background)
    NEW YORK, Sept 9 (Reuters) - The number of rigs drilling
for natural gas in the United States fell by three this week to
892, the third straight weekly decline, data from oil services
firm Baker Hughes showed on Friday.
    Horizontal rigs -- the type most often used to extract oil
or gas from shale -- fell two to 1,134 after hitting a record
high of 1,140 two week's ago. Horizontal drilling rigs comprise
part of the overall gas rig count.
    (Rig graphic: )
    Front-month U.S. natural gas futures NGc1 were unmoved by
the data, remaining about 5 cents, or 1.3 percent, down at
$3.93 per million British thermal units after the report.
    The gas rig count is 88 rigs below the same week last
    Some firms have shifted spending away from gas to more
profitable liquids or oil-related ventures due to relatively
low gas prices. The changes have yet to be reflected in
industry data, which still show production at record levels.
    The U.S. Energy Information Administration expects marketed
natural gas production this year to climb to a record high
65.80 billion cubic feet per day, easily eclipsing the previous
high of 62.05 bcf daily in 1973.
    There has been record heat and power demand this summer,
but traders said high gas production has easily offset the
surge in cooling needs and some storm-related supply cuts.
    The gas rig count of 892 remains well above the 800 level
some analysts say is needed to cut production significantly and
tighten overall supplies.
    Most analysts expect no major slowdown in domestic gas
output until early next year.
 (Reporting by Edward McAllister; Editing by Alden Bentley)


Indian shares snap rally on profit taking, U.S. worries

Fri Sep 9, 2011 7:23am EDT

By Nandita Bose 
MUMBAI, Sept 9 (Reuters) - Indian shares fell 1.7 percent on
Friday, snapping a three-day winning streak, as profit booking
emerged and a lack of clarity on new stimulus measures
re-ignited concerns over the health of the U.S. economy and
drove investors away from equities. 
Disappointment grew after a speech by the U.S. Federal
Reserve chief lacked details on plans to spur economic growth
after a $447 billion jobs package plan by U.S. President Barack
The 30-share BSE index fell 1.74 percent, or 298.57
points, to 16,866.97, with 23 of its components declining. The
index had gained nearly 3 percent in the past three trading
sessions and on Thursday touched its highest close since Aug. 5. 
Software stocks led the losses. The United States is one of
the biggest markets for India's $76 billion information
technology sector.  
No.2 software services exporter Infosys fell 2.74
percent, while sector leader Tata Consultancy Services ,
ended 1.93 percent down. 
"The correction has a lot to do with profit booking that has
come in during the day as investors chose to cash in on the
gains made in the past few sessions. It did look like 5,100
levels will be a strong resistance," said Gajendra Nagpal, chief
executive, Unicon Financial Intermediaries.  
"The weakness in the global markets has also definitely
added to the negative sentiment." 
A pick-up in foreign fund inflows over the past few sessions
has underpinned India even as global markets have been dominated
in recent weeks by fears of a U.S. relapse into recession and
Europe's snowballing debt crisis.  
The main index rose 0.27 percent this week, its second
straight weekly gain after falling for five consecutive weeks.  
Foreign funds bought just over $500 million of local stocks
so far in September after selling $2.2 billion in the last
month, according to data from the market regulator. 
"In the coming sessions the market is expected to move
sideways and consolidate at around 5,050," Nagpal said.  
The 50-share NSE index closed down 1.82 percent at
5,059.45. In the broader market, advancing stocks led declines
493 to 940 on a volume of 763 million shares.   
Energy major Reliance Industries ended down 3.13
percent a day after India's federal auditor criticised the
company and the government over development of the country's key
natural gas field in the Krishna Godavari (KG) basin and called
for revamping profit sharing arrangements from oil and gas
The auditor report could form the basis of any possible
government action against Reliance in future, analysts said. 
Reliance shares, which have the heaviest weight on the main
index, are down 22 percent year to date, compared with a 18
percent fall in the benchmark index 
Banking stocks also fell 2 to 4 percent on expectations the
central bank may again raise rates next week. 
The Reserve Bank of India remains bent on fighting domestic
inflation despite weakening global conditions, officials with
direct knowledge of policymaking said on Wednesday. It is
scheduled to review policy next Friday.         
HDFC Bank ended down 2.16 percent, while bigger
rival ICICI Bank fell 2.41 percent. State Bank of
India , the market leader, ended down 3.52 percent. 
Aluminium producer Hindalco fell 5.72 percent
after Morgan Stanley downgraded it to "underweight" from
"overweight" and slashed its price target by nearly half.  
Indian shares have been one of the world's worst performers
this year, with the BSE index down 18 percent, as rising
interest rates dent growth. 
The MSCI's measure of Asian markets other than Japan
 fell 0.98 percent, while Japan's Nikkei 
ended down 0.63 percent.

Oil prices ended the week falling | gold prices slightly rose – September 9

September 10, 2011

Gold price ended the week with light rises, while silver prices ended with falls. Crude oil prices, much like the US stock markets, sharply fell on Friday. Natural gas spot price (Henry Hub) changed direction and declined. Here is a summary of the price movements of precious metals and energy commodities for September 9th:
Precious Metals prices:
Gold price slightly inclined yesterday by 0.11% to $1,859; Silver price on the other hand decreased by 2.13% to $41.62. During September, gold prices increased by 1.5%, while silver price fell by 0.3%.
The EURO to US Dollar exchange rate sharply fell again yesterday by 1.63% to 1.3657 – i.e. the USD appreciated against the EURO. During September, the EURO to US Dollar declined by 4.96%. This drop is after the ECB decided to keep its interest rates unchanged at 1.5%.
Oil and Gas prices:
WTI Spot oil price sharply fell by 2.03%; it settled at $87.24 per barrel; Brent spot price also decreased by 1.80% to $112.24 per barrel; during September the WTI spot oil price declined by 1.8% and Brent oil fell by 3.6%.
Due to these changes, the difference between Brent and WTI slipped again to $25.00/bbl.
Natural gas Henry Hub future price (October delivery) fell by 1.51% to $3.92/mmbtu. The Henry Hub spot price also slipped by 0.25% to $3.96/mmbtu; the gap between the spot and future price fell to -$0.04, i.e. backwardation. During September, natural gas spot price (Henry Hub) fell by 0.3%.


Tuesday, May 10, 2011

Death of Yucca Mountain caused by political maneuvering -- GAO

The Obama administration's rushed efforts to shut down Yucca Mountain were strictly political and could set back the opening of a nuclear waste repository by more than 20 years, according to a new report by a federal watchdog. The administration killed the repository program last year without citing technical or safety issues, and restarting the costly and time-consuming process of finding a permanent repository or an alternative solution could take decades and cost billions of additional dollars, the Government Accountability Office reported yesterday.


Gasoline Gains Most in 21 Months on Flooding, Refinery Problems

By Barbara Powell - May 9, 2011 3:32 PM GMT-0500

Gasoline advanced the most since July 2009 on speculation that fuel production and distribution will be disrupted by Mississippi River flooding and refinery unit shutdowns from the Midwest to the Gulf Coast.
Futures jumped 6.1 percent as Chevron had a crude unit fire in its Mississippi refinery and Exxon Mobil Corp. had a unit failure in its Illinois plant. The Mississippi River, the largest U.S. river system, is forecast to crest today in MemphisTennessee, just below its 74-year-old record as a bulge of water moves south toward the riverside refineries in Louisiana.
“There’s strength in the spot market, there was a laundry list of refinery issues over the weekend, and there’s just no refinery selling on the Gulf Coast,” said Tom Knight, vice president of trading and supply at Truman Arnold Cos. in Texarkana, Texas. “There may be concerns about disruptions of incoming crude, concerns about flooding.”
Gasoline for June delivery rose 18.83 cents to settle at $3.2784 a gallon on the New York Mercantile Exchange. It was the first gain in six days and follows a loss of 11 percent last week. Gasoline was the biggest gainer on the Thomson Reuters/Jefferies CRB Index.

Mississippi Flooding

Flooding may disrupt fuel production from plants along the river from New Orleans to Baton Rouge. That area contains 11 refineries with a combined capacity of 2.5 million barrels a day, or 13 percent of U.S. fuel output, said Andy Lipow, president of Lipow Oil Associates LLC in Houston.
“There is potential impact to refinery supplies due to Mississippi River flooding, so gasoline is biased to the upside,” Lipow said. “Supplies, especially in the Northeast, are quite tight.”
Futures were supported by higher spot prices. Regular gasoline in Chicago traded at a 21-cent premium to futures, compared with a 10-cent premium on May 6, according to data compiled by Bloomberg. Gulf Coast gasoline rose 6.25 cents to trade at a 3-cent premium.
“There were spot shortages at some terminals,” said Lewis Adam, president of ADMO Energy LLC, a supply consultant in Kansas City.
Exxon shut a fuel terminal in Memphis April 29 in advance of flooding, Kevin Allexon, a company spokesman, said in an e- mail. “Severe weather” forced Valero Energy Corp. to cut off sales to unbranded spot customers in Paducah, Kentucky, Bill Day, a spokesman for Valero in San Antonio, said. “We will meet obligations to our branded customers,” he said.

Supply Drop

Futures also surged on speculation prices fell too far last week with supplies at a 22-month low before the summer driving season. Gasoline stockpiles dropped 11 consecutive weeks from Feb. 11 to April 29, according to Energy Department data, and shed 36.6 million barrels. Refiners operated at 82.8 percent of capacity, 6.8 percentage points below a year earlier.
“Last week’s drop was a little overdone,” said Gene McGillian, an analyst and broker at Tradition Energy in StamfordConnecticut. “Until we see signs that refineries are going to start ramping up production for the summer, gasoline will have a bit of a bid in it.”
The premium of June futures over July increased to 11.4 cents a gallon from 9.45 cents on May 6, the widest backwardation for the contracts nearest to expiration since Aug. 31, 2009. Supplies in Padd 1 are the lowest since October 2008, according to Energy Department data. The region includes New York Harbor, the delivery point of the Nymex gasoline contract.

Supply Survey

Supplies of the motor fuel probably fell 750,000 barrels last week to 203.9 million barrels, the lowest level since June 2009, according to the median estimate of 11 analysts in a survey by Bloomberg News. Supply disruptions that occurred after May 6 would not be reflected in department’s report, to be released on May 11.
Gasoline use typically climbs in mid-year when summer vacations boost consumption. The peak demand period starts after the Memorial Day holiday in late May and ends on Labor Day in early September. The holidays fall on May 30 and Sept. 5 this year.
The premium of gasoline over crude oil on Nymex gained $2.54 to $35.14 a barrel. That’s the largest crack spread for the contract nearest to expiration since May 2007.
“It’s the supply issues, ahead of the Memorial Day weekend,” said Fred Rigolini, vice president of Paramount Options Inc. in New York. “People are thinking there could be supply issues going into the summer.”
Regular retail gasoline fell 0.6 cent to $3.96 a gallon yesterday, AAA said on its website.
Volume for gasoline futures was 173,895 contracts in electronic trading as of 3:06 p.m., 45 percent above the average over the past three months. Heating oil volume was 128,481 lots, 4.5 percent above the average.
Heating oil for June delivery rose 11.61 cents, or 4.1 percent, to settle at $2.9618 a gallon on the exchange.