Robert's Feed
Feb 9, 2012

Atlantic basin suddenly surfeited with sweet crude-Campbell

NEW YORK, Feb 9 (Reuters) – Remember the great
European sweet crude crunch of 2011? It is little more than a
historical curiosity now. Instead an abundance of sweet crude is
now weighing on prices in the Atlantic basin and facilitating
arbitrage flows to Asia.

This sweet crude surplus has been misunderstood by some
observers, who have struggled to reconcile the steep
backwardation in Brent crude futures –suggesting tight
supplies– and Brent’s relative weakness to lower quality
grades, like Russian Urals.

Dec 5, 2011

Arb caps Asian crude bull run but will it last?-Campbell

NEW YORK, Dec 5 (Reuters) – The roaring bull run in Asian
crude oil markets has been brought to a screeching halt by
arbitrage players but traders would be remiss not to keep one
eye on the Dubai screen for signs of another flare-up.

The gap between Asian benchmark Dubai swaps and Brent crude
futures has tumbled to a one-year low near $3 a barrel,
completing the unwinding of the blowout in the spread caused by
the Libyan civil war. (See Chart 1)

Dec 5, 2011

Arb caps Asian crude bull run but will it last?-Campbell

NEW YORK, Dec 5 (Reuters) – The roaring bull run in Asian
crude oil markets has been brought to a screeching halt by
arbitrage players but traders would be remiss not to keep one
eye on the Dubai screen for signs of another flare-up.

The gap between Asian benchmark Dubai swaps and Brent crude
futures has tumbled to a one-year low near $3 a barrel,
completing the unwinding of the blowout in the spread caused by
the Libyan civil war. (See Chart 1)

Nov 15, 2011

The diesel problem and the other GTL play-Campbell

NEW YORK, Nov 15 (Reuters) – U.S. natural gas producers can
only dream of achieving the crude oil-linked prices companies
elsewhere get for their output but a quiet beneficiary from the
shale gas revolution is the U.S. refining sector.

For gas producers, the holy grail is GTL –gas-to-liquids–
either through enormously expensive plants that turn natural
gas into ultra-clean diesel fuel or by gaining access to other
gas markets where crude oil sets prices.

Nov 10, 2011

If Keystone XL dies, does China win? No – Campbell

NEW YORK, Nov 10 (Reuters) – Despite what you may think,
the delay or even cancellation of the Keystone XL pipeline
project from Canada to the United States does not ensure that
China will become the go-to customer for Canada’s vast oil
sands.

U.S. President Barack Obama has opted to avoid a tough
decision by allowing the government to take more time to study
changes to the proposed Keystone XL route to avoid
environmentally sensitive areas.

Nov 9, 2011

If Wrangler happens who needs Keystone XL?: Campbell

NEW YORK, Nov 9 (Reuters) – Keystone XL, the oil pipeline
long seen as the key to easing the bottleneck at Cushing,
Oklahoma, may be further delayed, but this development is no
longer disastrous for inland North American producers.

Backed by TransCanada , Keystone XL has run up
against fierce opposition from environmental groups determined
to stop the growth of Canada’s oil sands sector.

Sep 12, 2011

The strange case of Pemex and Repsol -Campbell

NEW YORK, Sept 12 (Reuters) – Mexico’s plodding state oil
monopoly Pemex rarely catches anyone by surprise but its shock
stake-building in Spain’s Repsol may well be the exception that
proves the rule.

Pemex [PEMX.UL] announced in late August it would nearly
double its stake in Repsol (REP.MC: Quote, Profile, Research, Stock Buzz) to nearly 10 percent and
join with the Spanish group’s biggest, and most disgruntled
shareholder, Sacyr Vallehermoso (SVO.MC: Quote, Profile, Research, Stock Buzz).

Aug 25, 2011

US gasoline demand destruction underway -Campbell

NEW YORK, Aug 25 (Reuters) – The weakness of the gasoline
market in the United States has been hidden, at least in the
short term, by mounting exports, which have distorted weekly
demand estimates.

Between January and May, the Energy Information
Administration’s weekly “product supplied” figure — a proxy
for wholesale demand — has overstated U.S. gasoline
consumption by an average of 279,000 bpd when compared to the
more detailed monthly data that EIA produces.

Aug 8, 2011

WTI slump takes Canadian oil to the edge -Campbell

NEW YORK, Aug 8 (Reuters) – Canadian oil sands producers
exposed to the heavy crude market are quaking as West Texas
Intermediate crude oil futures slide dangerously near their
break-even levels.

Although no production shut-ins have been announced and
managers are likely to opt to ride out the storm in the hope
the current downturn is short-lived producers operating at the
margin will almost certainly trim investment budgets.

Aug 3, 2011

The Utica shale: the next US oil surprise?-Campbell

NEW YORK, Aug 3 (Reuters) – One of the big surprises in
recent years for the oil market has been the reversion of the
steady decline in U.S. crude output and the emergence of its
shale sector as a nontrivial source of global supply growth.

New unconventional shale oil plays, such as the Eagle Ford
Shale in Texas, have transformed within a few short years from
highly speculative exploration projects to potentially major
oil producers.