zman’s Energy Brain

oil, gas, stocks, etc…

  • Blog Stats

    • 101,683 hits
  • Seeking Alpha Certified
  • Hello and Welcome - I’ve created this blog for the purpose of discussing energy related topics - primarily but not limited to oil and natural gas - and their potential impact on stocks, options, and futures. I am an amateur investor/trader and make no assurances about the opinions expressed on this blog. Please consult your financial advisor before buying, selling, borrowing, or otherwise risking capital based upon ideas taken from this site. Any advice construed from this website is worth what you paid me for it.
  • RSS Subscribe with a reader

  • Subscribe via RSS with

    Powered by FeedBurner

  • pfblogs.org logo

Tuesday- Slow News Day

Posted by zmann on October 10, 2006

— Oil Slide Expected To Continue, Despite Opec, Nigerias Best Efforts. Oil futures are showing a modest pullback this morning, down $0.48, to $59.48. Stop falling! Stop, the brothers in the cartel demand it! We just can’t put anything official in writing yet, but we will so watch out! Give me a break, I’ve seen better organized 5 year old soccor teams. They have 11 men on the field too but at they’re all (generally) trying to kick the ball in the same direction. Like I’ve said in recent days, its time to sell the “news”. Nigeria, for its part is trying to get oil prices up by letting another Shell platform fall into the hands of rebels along with more of its soldiers. Do they get hostage pay? Do you notice how, unlike in other hostage taking areas of the world, the rebels almost always release the hostages unharmed within a few days. Sounds like an oil for hostage program has been worked out. You can probably even chart oil vs hostages with good correlation but data is a bit unreliable.

— Analyst Watch. Not to be pinned down and say they missed a call, Goldman Sachs uppdc APC and DVN to buy from neutral this morning while downgrading MUR and XOM to neutral from buy. I haven’t seen the impact on numbers yet and will follow up but I’ll bet a nickel they’re all down. I’m torn on the recommendation as well since I’ve got puts on APC and MUR at present. The negative call on XOM won’t be good for the group however, and this week’s expected weakening in oil and correction in natural gas will drag APC with it after a fleeting moment in the sun.

— BP Watch. BP is being cagey about their maintenance activities at Prudhoe Bay. They began an expected 2 week cleanup period on Sept 30 (cleaning and pigging) and will use a smart pig to check corrosion levels but so far have not done that. Line slack vibration has been noted in the Alaska pipeline (vibration caused by it being less than full while not being perfectly flat so that oil speeds up and slows down within the pipe) but is said to be no big deal. We’ll see but I don’t trust those guys, they’ll find a way to get before Congress due to something else soon.

–Putin to foreign oil companies, “who needs you?” Gazprom announced that the giant (3.6 Tcf) Shtokman natural gas field in the Barents Sea does not need the participation of 5 shortlisted companies (TOT, COP, CVX, STO, NHY) in the project. Taken together with the still brewing Saukilin Island controversy, Russia is increasingly looking less like a honey pot for Big Oil and more like a gulag.

Advertisements

2 Responses to “Tuesday- Slow News Day”

  1. Jon said

    Oil down and refiners up this morning. Picked up some of the HOC puts but they’re getting cheaper.

  2. I enjoy universe. Ever since I was a kid. I enjoy reading your article. I probably love plants the most in universe although animal anatomy is very interesting .

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

 
%d bloggers like this: