Following Tuesday’s pressure release that saw the May natural gas contract lose 24.5 cents, traders on Wednesday were able to resume their course towards higher prices despite the continued easing of tensions in the Middle East. The prompt month gained 8.9 cents Wednesday to finish at $7.515.
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Transportation Notes
Columbia Gulf reported Thursday it had completed repairs on the 26-inch diameter Eugene Island System and allowed three platforms to resume flows effective with the Intraday 2 nominations cycle. Columbia Gulf also reduced its estimate of the amount of production shut in due to a leak on Line 100 of the West Leg of the Bluewater System to 12,000 Dth/d (see Daily GPI, Nov. 1). It said degassing operations would commence later Thursday and continue until the line pressure is reduced to a level that permits divers to enter the water safely. Depending on weather conditions, divers may be permitted in the water as early as Monday, and depending on the extent of the leak, operations could return to normal as soon as Wednesday, Columbia Gulf said.
Next Mexican President Will Lack Votes to Reform Energy Sector
Felipe Calderon, Mexico’s apparent president-elect, holds a resume that on paper would appear to give him an edge in boosting Mexico’s energy fortunes. Harvard-educated and well-connected, Calderon served as energy minister under outgoing President Vicente Fox for nine months (see NGI, June 7, 2004; Sept. 15, 2003). But if Calderon succeeds Fox into office this December, his impressive credentials are expected to matter very little in a country apparently more concerned about national pride than its stagnant energy resources.
New Mexican President Lacks Votes to Reform Energy Sector
Felipe Calderon, Mexico’s apparent president-elect, holds a resume that on paper would appear to give him an edge in boosting Mexico’s energy fortunes. Harvard-educated and well-connected, Calderon served as energy minister under outgoing President Vicente Fox for nine months (see Daily GPI, June 2, 2004; Sept. 9, 2003). But if Calderon succeeds Fox into office this December, his impressive credentials are expected to matter very little in a country apparently more concerned about national pride than its stagnant energy resources.
Transportation Notes
Due to a leak on Coronado Pipeline, Dominion ceased deliveries to Columbia Gas at Cassity Mountain Wednesday. Dominion said it hopes to resume deliveries by June 30. All producers feeding directly into Coronado must shut in, Dominion said, and all producer compression in bubbles 4202, 4203 and 4205 on its system must be shut in until further notice. However, pool operators should not reduce their nominations during this outage, it added.
Shell: Mars Deepwater Production to Resume in May
Shell Exploration & Production Co. expects initial production from its deepwater Mars platform to resume in late May, at least one month ahead of schedule after it was knocked out of commission last year during Hurricane Katrina. Mars, the largest platform damaged by the massive storm, represents about 5% of current Gulf of Mexico daily production. Pre-Katrina rates are expected to be restored by the end of June.
NGI The Weekly Gas Market Report
Pemex to Resume Service Contracting for Gas Exploration in May
The CEO of Petroleos Mexicanos (Pemex) said the state-run oil company in May will resume offering multiple service contracts (MSCs) to develop Mexico’s natural gas reserves.
Pemex to Resume Offering Contracts for Gas Exploration in May
The CEO of Petroleos Mexicanos (Pemex) said state-run oil company in May will resume offering multiple service contracts (MSCs) to develop Mexico’s natural gas reserves.
NGI The Weekly Gas Market Report
Deepwater Mars Platform to Resume Partial Production by Mid-Year
Royal Dutch Shell, the largest operator in the Gulf of Mexico, expects some of the output from its deepwater Mars platform to resume by mid-year, with full ramp up in the second half of 2006. The platform, which produces about 4% of Shell’s total Gulf output, was extensively damaged following Hurricane Katrina last fall.
Shell: Deepwater Mars Platform to Resume Some Production by Mid-Year
Royal Dutch Shell, the largest operator in the Gulf of Mexico, expects some of the output from its deepwater Mars platform to resume by mid-year, with full ramp up in the second half of 2006. The platform, which produces about 4% of Shell’s total Gulf output, was extensively damaged following Hurricane Katrina last fall.