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August 17, 2011

Energy Data Highlights

Crude oil futures price 8/15/2011: $87.88/bbl up$6.57 from week earlier up$12.49 from year earlier Natural gas futures price 8/15/2011: $4.024/mmBtu up$0.089 from week earlier down$0.306 from year earlier Retail gasoline price 8/15/2011: $3.604/gal down$0.070 from week earlier up$0.859 from year earlier Retail diesel price 8/15/2011: $3.835/gal down$0.062 from week earlier up$0.856 from year earlier Weekly coal production 8/6/2011: 20.466 million tons up0.299 million tons from week earlier down0.183 million tons from year earlier http://www.eia.gov/ Natural Gas/ Power News

EIA Storage Release 8/11/11 (Actual): +25 Bcf Previous Week: +44 Bcf -6.6% Change from 1 Year Ago -2.8% Change 5-year Average Williams maintains $5.49 billion bid for Southern Union Williams Cos. is sticking to its $5.49 billion all-cash offer to buy pipeline company Southern Union Co., saying its a better deal for shareholders than Energy Transfer Equity LPs bid. http://fuelfix.com/blog/2011/08/17/williams-maintains-5-5-billion-bid-for-southernunion/ Pennsylvania's Marcellus output jumps 22% to 1.87 Bcf/d in H1 2011 Natural gas production in Pennsylvania's portion of the Marcellus Shale in the first six months of 2011 rose to 1.87 Bcf/d, 22% above that in the second half of 2010, the state's Department of Environmental Protection said Tuesday. http://www.platts.com/RSSFeedDetailedNews/RSSFeed/NaturalGas/6381485 Calypso abandons gas pipeline project off Florida coast Calypso US Pipeline is surrendering its authorization and presidential permit to build an offshore pipeline to ship regasified LNG to Florida, according to a filing released Tuesday. http://www.platts.com/RSSFeedDetailedNews/RSSFeed/NaturalGas/6381484

Gazprom continues talks with European partners over gas price Russia's Gazprom said Tuesday its export arm is currently in consultations over demands to renegotiate the contracted price in its long-term gas contracts with several of its key European partners, including GDF Suez, Shell Energy Europe, RWE Transgas, E.ON Ruhrgas and Eni. http://www.platts.com/RSSFeedDetailedNews/RSSFeed/NaturalGas/8239922 California PUC to set up risk assessment unit for utilities safety A risk assessment unit will be set up to proactively improve safety of natural gas and electricity infrastructure in the wake of a fatal natural gas pipeline explosion a top California Public Utilities Commission told a Senate committee Tuesday. http://www.platts.com/RSSFeedDetailedNews/RSSFeed/ElectricPower/6381495 Report: Cold weather killed the grid in February Cold weather-related equipment failures were to blame for power problems that included rolling blackouts in Texas and other southwestern states in February, according to a report released by regulators http://fuelfix.com/blog/2011/08/17/report-cold-weather-killed-the-grid-in-february/ Italian Utilities Fall After Berlusconi Increases Tax Rates Enel SpA (ENEL), Terna Rete Elettrica Nazionale SpA (TRN) and Snam Rete Gas SpA (SRG) fell in Milan trading after a government austerity package raised tax rates on utilities.

http://www.bloomberg.com/news/2011-08-16/italian-utilities-fall-after-berlusconiincreases-tax-rates-in-budget-plan.html

Green/ Alternative Energy News US agencies to spend $510 million to spur aviation, marine biofuels The Obama administration Tuesday announced a $510 million plan to spur development of advanced biofuels, focusing on production of drop-in fuels for aviation and marine transportation. http://www.platts.com/RSSFeedDetailedNews/RSSFeed/Oil/6381488

Crude Oil News

OPEC Daily Basket Price 8/16/2011 --$105.42 (8/15/2011 --$104.78) Recent Rig Counts Last Count Change Cou from Prior nt Count +39 +30 -8 Date of Prior Count 5 Aug 11 5 Aug 11 June 2011 Change Date of Last from Last Year's Year Count +319 +69 +41 13 Aug 10 13 Aug 10 July 2010

Area U.S. Canada Internatio nal

12 Aug 1959 11 12 Aug 11 July 2011 464 1150

http://investor.shareholder.com/bhi/rig_counts/rc_index.cfm

Energy sector leads S&P 500 downward The energy sector was hit harder than any other on the S&P 500 Tuesday, with more evidence of a global economic slowdown sending prices for crude, coal and natural gas downward. http://www.forbes.com/feeds/ap/2011/08/16/business-materials-us-energysector-snap_8625913.html Brent oil rises to $110, U.S. gasoline supports Brent crude rose on Wednesday to $110 a barrel after an industry report showed a larger-than-expected decline in U.S. gasoline supplies and upbeat economic data trumped concerns over the euro zone debt crisis.

http://www.reuters.com/article/2011/08/17/us-markets-oilidUSTRE77838320110817 Oil Climbs in New York as U.S. Fuel Supply Drop Signals Increased Demand Oil advanced from a two-day low in New York as investors bet that shrinking fuel stockpiles in the U.S. indicate demand will increase in the worlds biggest crudeconsuming nation http://www.bloomberg.com/news/2011-08-17/oil-erases-gain-in-new-york-aseconomic-concern-counters-stockpile-decline.html Time to trade the Brent-WTI spread? A major pipeline announcement means its just about time to lay on bets on the Brent-WTI spread narrowing. December 2013 looks attractive. http://www.commodities-now.com/news/power-and-energy/7424-time-to-tradethe-brent-wti-spread.html Iraq to unveil model contracts for oil/gas exploration September 11 Iraq's oil ministry said Tuesday that it would unveil model contracts for oil and gas exploration blocks to pre-qualified international companies on September 11, kicking off a process that will culminate with the award of contracts in January. http://www.platts.com/RSSFeedDetailedNews/RSSFeed/Oil/8240241 EIA shaves OPEC oil earnings forecast to $1.01 trillion this year The US Energy Information Administration has trimmed its forecasts of OPEC's net oil export earnings to $1.011 trillion this year and $1.105 trillion in 2012, down $17 billion and $3 billion respectively. http://www.platts.com/RSSFeedDetailedNews/RSSFeed/Oil/8239992 Shell defends spill response as UK leak trickles on Shell defended its public handling of the UK's worst oil spill in more than a decade Tuesday as the oil major said it is still tackling a second leak site in the damaged flow line beneath its North Sea Gannet Alpha platform. http://www.platts.com/RSSFeedDetailedNews/RSSFeed/Oil/6381487

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