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Oil

Houston (Platts)--22Feb2012/611 pm EST/2311 GMT
The Chicago conventional unleaded gasoline cash differential gained 7.25 cents/gal Wednesday to an assessment of NYMEX March RBOB futures minus 24.75 cents/gal, with no major refiners selling in the spot market and increased buying interest in the gasoline, market sources said.
Washington (Platts)--22Feb2012/607 pm EST/2307 GMT
The US Coast Guard is proposing a 500-meter safety zone around each of the two drill ships that Shell would use if its plans to spud exploratory wells in Alaska's Chukchi and Beaufort Seas this summer are approved.
London (Platts)--22Feb2012/959 am EST/1459 GMT
Austria's OMV said Wednesday it plans to return its oil production in Libya this year to levels seen before the 2011 civil war, and even beyond them, as it looks to reignite its production growth after a dismal 2011.
Abuja (Platts)--22Feb2012/725 am EST/1225 GMT
Nigeria Wednesday renewed ExxonMobil licenses for another 20 years on three oil blocks which together produce 500,000 b/d.
Dhaka (Platts)--22Feb2012/632 am EST/1132 GMT
Bangladesh will not commission any more oil-based power plants, as fuel costs have increased making power generation costly, and instead focus on using coal and renewable energy for power in the long term, Bangladesh Power Development Board Chairman ASM Alamgir Kabir said Wednesday.
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Natural Gas

Houston (Platts)--22Feb2012/620 pm EST/2320 GMT
Low natural gas prices will "for the first time" lead generators in Texas, Louisiana and the western US to begin switching from coal, Barclays Capital analysts are predicting.
Houston (Platts)--22Feb2012/611 pm EST/2311 GMT
Energy industry analysts Wednesday applauded a decision by Appalachian producer Cabot Oil and Gas to reduce by $100 million its projected 2012 capital spending for natural gas drilling, primarily in the Marcellus Shale play.
Assaluyeh, Iran (Platts)--22Feb2012/833 am EST/1333 GMT
Iran's Pars Oil and Gas Company said Wednesday production capacity from the offshore South Pars gas field, an extension of Qatar's North Field, was producing 290 million cubic meters a day and it rejected suggestions that Qatar's gas production was significantly higher than Iran's.
Seoul (Platts)--22Feb2012/647 am EST/1147 GMT
South Korea, the world's second-largest LNG buyer, agreed Wednesday to seek more LNG imports from Australia, the energy ministry said.
Kampala (Platts)--22Feb2012/406 am EST/906 GMT
The Tanzanian ministry of energy and minerals is preparing a bill to regulate the gas sector and expedite natural gas exports, Tanzania's junior minister of energy and mineral development said Wednesday.
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Electric Power

Washington (Platts)--22Feb2012/619 pm EST/2319 GMT
The US Nuclear Regulatory Commission should order nuclear power plants to take a variety of measures to enhance their ability to withstand severe earthquakes and floods, such as those that caused the Fukushima-1 accident in Japan, agency staff said in a paper to the commission released Wednesday.
London (Platts)--22Feb2012/818 am EST/1318 GMT
Prompt contracts on the UK power market firmed slightly Wednesday morning following Tuesday's late gains on NBP gas, but strong selling and a lower outturn on the N2EX exchange due to healthy supply margins capped potential gains, a market source said.
London (Platts)--22Feb2012/741 am EST/1241 GMT
UK energy regulator Ofgem called on the country's 'Big Six' energy suppliers Wednesday to offer 25% of their generated electricity output in mandatory power auctions intended to "drive open the electricity market" and ensure greater accessibility to smaller independent suppliers.
Dhaka (Platts)--22Feb2012/632 am EST/1132 GMT
Bangladesh will not commission any more oil-based power plants, as fuel costs have increased making power generation costly, and instead focus on using coal and renewable energy for power in the long term, Bangladesh Power Development Board Chairman ASM Alamgir Kabir said Wednesday.
Washington (Platts)--21Feb2012/415 pm EST/2115 GMT
The US Nuclear Regulatory Commission on Tuesday released thousands of pages of transcripts from the agency's operations center during the first 10 days following the March 11 Fukushima-1 nuclear accident in Japan.
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Coal

Houston (Platts)--22Feb2012/620 pm EST/2320 GMT
Low natural gas prices will "for the first time" lead generators in Texas, Louisiana and the western US to begin switching from coal, Barclays Capital analysts are predicting.
London (Platts)--22Feb2012/800 am EST/1300 GMT
London AIM-listed resource company Beacon Hill Resources said Wednesday that the definitive feasibility study for the expansion of its Minas Moatize coking coal project in Mozambique's Tete province has been completed, confirming a mine life of 11.5 years.
Dhaka (Platts)--22Feb2012/632 am EST/1132 GMT
Bangladesh will not commission any more oil-based power plants, as fuel costs have increased making power generation costly, and instead focus on using coal and renewable energy for power in the long term, Bangladesh Power Development Board Chairman ASM Alamgir Kabir said Wednesday.
Singapore (Platts)--22Feb2012/410 am EST/910 GMT
Russian steelmaker and miner Severstal is seeking potential acquisitions and potential joint developments of coking coal mines in Southeast Asia, a company official said Wednesday.
Perth (Platts)--21Feb2012/149 am EST/649 GMT
Employees at Port Kembla coal terminal have agreed to cancel their 24-hour strike scheduled for 7:00 am Sydney time Wednesday (2000 GMT Tuesday) through to Thursday morning, after making progress in talks with terminal management Tuesday, said the Construction, Forestry, Mining and Energy Union in a statement.
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Shipping

Washington (Platts)--22Feb2012/607 pm EST/2307 GMT
The US Coast Guard is proposing a 500-meter safety zone around each of the two drill ships that Shell would use if its plans to spud exploratory wells in Alaska's Chukchi and Beaufort Seas this summer are approved.
Houston (Platts)--22Feb2012/556 pm EST/2256 GMT
There is no bunker fuel available in the port of Norfolk, Virginia, as traders are diverting cargoes of residual fuel away from the US East Coast, market sources said Wednesday.
London (Platts)--22Feb2012/728 am EST/1228 GMT
US agribusiness group Archer Daniels Midland Co said Wednesday it and Singapore's Wilmar International have forged a strategic partnership in global fertilizer and ocean freight businesses, and tropical oils refining in Europe.
London (Platts)--22Feb2012/723 am EST/1223 GMT
Freight rates for Aframaxes sailing from the Baltic to Northwest Europe have remained stable since the start of February, despite very cold weather that would normally push them higher, sources said Wednesday.
Tokyo (Platts)--22Feb2012/410 am EST/910 GMT
China's Sinopec Zhejiang Zhoushan Petroleum, or Sinopec Zhoushan, stopped delivering bunker fuel in Shanghai late Tuesday due to heavy fog, a company source said Wednesday.
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Petrochemicals

Houston (Platts)--22Feb2012/624 pm EST/2324 GMT
Korean polyethylene offers to Peru have risen $20-30/mt over last week's levels, a Peruvian buyer said Wednesday.
Houston (Platts)--22Feb2012/830 am EST/1330 GMT
Asian benzene fell $1/mt day on day to $1,199.50/mt FOB Korea February 22, amid light trading activity.
London (Platts)--22Feb2012/728 am EST/1228 GMT
US agribusiness group Archer Daniels Midland Co said Wednesday it and Singapore's Wilmar International have forged a strategic partnership in global fertilizer and ocean freight businesses, and tropical oils refining in Europe.
Singapore (Platts)--22Feb2012/427 am EST/927 GMT
China imported 400,133 mt of methanol in January, down 18.1% from December but up 1.9% year on year, according to data released Wednesday by Chinese customs.
Houston (Platts)--21Feb2012/545 pm EST/2245 GMT
Despite current depressed natural gas liquids prices that could persist through June, supplies are unlikely to outpace long-term petrochemical demand as plant expansions and new builds begin to enter operation in the second half of the year, investment banker Raymond James said in a report Tuesday.
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Metals

Palm Springs, California (Platts)--22Feb2012/624 pm EST/2324 GMT
Industry sources at the International Zinc Conference in Palm Springs, California, said Wednesday that a deal had been reached on zinc treatment charges for 2012.
London (Platts)--22Feb2012/816 am EST/1316 GMT
The London Metal Exchange has registered record open interest for cobalt two years after the launch of the minor metal contract, the exchange said Wednesday.
Sydney (Platts)--22Feb2012/412 am EST/912 GMT
Alumina shipments from Australia's Gladstone port have largely been on schedule, despite months of unseasonal high rainfall in the state of Queensland, industry sources said Wednesday.
Palm Springs, California (Platts)--21Feb2012/603 pm EST/2303 GMT
As negotiations continued Tuesday on 2012 zinc treatment charges, industry sources at the International Zinc Conference said the 2012 benchmark TC/RC is likely to be settled below $200/mt, compared with a 2011 TC/RC of $229/mt.
London (Platts)--21Feb2012/1050 am EST/1550 GMT
Rebar and sections producer Celsa's French unit at Boucau on that country's southwest Atlantic coast has applied for approval for billets to be authorized for delivery against the London Metal Exchange futures contract.
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