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Oil

Houston (Platts)--18Jun2013/227 pm EDT/1827 GMT
Total capital spending in 2012 for the top 100 US producers, including acquisitions, rose 18% year over year to the highest level on record at $316.6 billion, driven by development capital spending of a combined $208 billion, according to a study released Tuesday by a top boutique investment bank.
Bogota (Platts)--18Jun2013/1209 pm EDT/1609 GMT
Reflecting concerns about the slow pace of reserves replacement, the Colombian government is forecasting oil production will slowly peak at 1.237 million b/d by 2018 and then entering a period of decline.
London (Platts)--18Jun2013/844 am EDT/1244 GMT
Iraq is targeting 4.5 million b/d of crude production next year under its national energy strategy, released last week, but officials from both Baghdad and Erbil said Tuesday that this volume did not include oil from Iraqi Kurdistan.
Moscow (Platts)--18Jun2013/729 am EDT/1129 GMT
Global oil prices are unlikely to drop below $100/b until 2025, supported by OPEC's market management efforts and crude demand growth in Asia, Leonid Fedun, vice president of Lukoil said Tuesday, presenting key findings of the company's first public long-term global industry outlook.
Beijing (Platts)--18Jun2013/553 am EDT/953 GMT
China experienced a surplus of crude supply in May as refiners used lower volumes than were imported and domestically produced, implying additions to China's crude oil inventory, according to Platts analysis of recently released government data.
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Natural Gas

Beijing (Platts)--19Jun2013/457 am EDT/857 GMT
State-owned China National Petroleum Corp.
Sydney (Platts)--19Jun2013/413 am EDT/813 GMT
The Australian oil and gas industry has condemned as "anti-development" federal legislation passed by the Senate Wednesday which introduces new regulation of coal and coalseam gas projects that impact water resources.
Sydney (Platts)--19Jun2013/351 am EDT/751 GMT
The first steel has been cut for the hull of the Ichthys Floating Production, Storage and Offloading vessel, meaning that work on all major offshore facilities for the Ichthys gas project off Western Australia are under way, project operator Japan's Inpex said Wednesday.
Washington (Platts)--18Jun2013/333 pm EDT/1933 GMT
Natural gas producers in the US will be able to keep up with the projected demand because they are becoming more efficient, a spokesman for Southwestern Energy told a conference in Washington Tuesday.
London (Platts)--18Jun2013/830 am EDT/1230 GMT
Gas prices on the Continental European markets were stable to lower Tuesday morning, pressured by warmer-than-average temperatures and strong piped imports.
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Electric Power

Washington (Platts)--18Jun2013/334 pm EDT/1934 GMT
The uranium spot price has halted its decline and appears to be firming up closer to the $40/lb price level, as sellers have been unwilling to part with large volumes of material at prices below that level, market sources said Tuesday.
Houston (Platts)--18Jun2013/231 pm EDT/1831 GMT
The existing Midcontinent Independent System Operator footprint would require between zero and 20,600 MW of fossil-fuel generation built by 2028 under five scenarios presented Tuesday to a MISO panel.
London (Platts)--18Jun2013/747 am EDT/1147 GMT
Negotiators from the European Union have started technical talks with Chinese officials in Brussels over the EU's decision to impose provisional import duties on Chinese solar panels, European Commission trade spokesman John Clancy said Tuesday.
London (Platts)--18Jun2013/706 am EDT/1106 GMT
German energy exchange operator EEX has called for a stable energy policy environment with a clear EU-dimension and market-based support for renewable energy in a list "cornerstone" policies which it hopes can influence the debate on Germany's energy policy turnaround -- the Energiewende.
Washington (Platts)--17Jun2013/359 pm EDT/1959 GMT
More evidence emerged Monday that President Barack Obama will make a major announcement in the coming weeks regarding his administration's efforts to combat climate change by regulating greenhouse gas emissions from electricity generators and perhaps other industrial facilities such as petroleum refineries.
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Coal

Perth (Platts)--19Jun2013/449 am EDT/849 GMT
Australian coal entrepreneur Nathan Tinkler has divested his 19% stake in coal producer Whitehaven Coal to existing shareholders, Whitehaven said Wednesday in a filing with the Australian Securities Exchange, following a failed attempt last year to increase his stake in the company to 100%.
Washington (Platts)--18Jun2013/116 pm EDT/1716 GMT
US federal regulators will conduct a separate environmental review for each of three proposed coal-export projects in the Pacific Northwest, rather than a broad, single review of the impact of all three projects, a US Army Corps of Engineers official said Tuesday.
London (Platts)--18Jun2013/730 am EDT/1130 GMT
Universal Coal announced Tuesday that it would begin production at Kangala, its first operating mine of which it owns 70.5%, in February 2014, two months earlier than previously expected.
Washington (Platts)--18Jun2013/703 am EDT/1103 GMT
US Central Appalachian thermal coal prices fell sharply during Monday's afternoon session and for about 30 minutes past the 4 pm EDT (2000 GMT) market-on-close, pushing the front-year price to its lowest level in over three years.
Perth (Platts)--18Jun2013/511 am EDT/911 GMT
Australia's Newcastle port, one of the world's largest for coal exports, could be handed to a private company to operate on a 99-year lease under plans announced by New South Wales treasurer Mike Baird in his budget statement, Tuesday.
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Shipping

London (Platts)--18Jun2013/228 pm EDT/1828 GMT
Although fixtures are still scarce, freight rates in the Atlantic picked up Tuesday on increased activity in both the Capesize and Supramax sectors, market sources said.
London (Platts)--18Jun2013/735 am EDT/1135 GMT
Norway's classification society and risk manager DNV said Tuesday it has been selected by the International Maritime Organisation to study the potential of LNG-fueled shipping in the North American Emission Control Area.
Manila (Platts)--18Jun2013/658 am EDT/1058 GMT
Shipowners are become more optimistic that the freight market is poised to recover as they order new dry bulk vessels despite the prolonged crash in charter rates, shipping sources said Tuesday.
Bonn (Platts)--17Jun2013/803 am EDT/1203 GMT
Through-shipping on the German Danube resumed Sunday when the the last flood-closed 50 km (31 miles) stretch of the river returned to below flood levels, a duty officer at the Danube Authority's Regensburg station said Monday.
Houston (Platts)--14Jun2013/118 pm EDT/1718 GMT
Statoil has fixed a vessel to transport Forties crude oil to Chile from the North Sea through a spot deal with state-owned Empresa Nacional del Petroleo (ENAP), sources familiar with both companies' operations said Friday.
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Petrochemicals

Tokyo (Platts)--18Jun2013/1032 pm EDT/232 GMT
The Asian polyethylene terephthalate production margin flipped to negative territory early Wednesday -- for the first time since the Asian close on April 17 -- as Chinese produces lowered their PET offers to reduce inventories.
Houston (Platts)--18Jun2013/230 pm EDT/1830 GMT
Gevo has resumed commercial production of isobutanol at its plant in Luverne, Minnesota, in single train mode, the company said Tuesday.
London (Platts)--18Jun2013/704 am EDT/1104 GMT
Negotiations between the US and Europe to address transatlantic import duties, non-tariff barriers to trade and trade facilitation would lead to the elimination of import duties on the Eur48 billion ($64 billion) worth of chemicals traded in 2012 between both markets, the European Chemical Industry Council (Cefic) said Tuesday.
Singapore (Platts)--18Jun2013/246 am EDT/646 GMT
The price spread in Asia between styrene monomer and its main feedstock benzene soared to an all-time high of $437/mt Monday, as SM prices jumped on tight supply, Platts data showed.
Houston (Platts)--17Jun2013/554 pm EDT/2154 GMT
US spot styrene rose 0.55 cent/lb ($12.12/mt) to 74.25 cents/lb ($1,636.91/mt) FOB US Gulf Coast on Monday for its highest assessment in three months as it tracked gains elsewhere in the world.
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Metals

Melbourne (Platts)--19Jun2013/358 am EDT/758 GMT
Australia's Liberty Resources said Wednesday it has been granted an exploration permit for a coking coal tenement in Queensland's Bowen Basin that is "completely encompassed" by mines operated by global producers.
New York (Platts)--18Jun2013/335 pm EDT/1935 GMT
Iron ore's reign over steelmaking's metallics realm will near an end, according to Karlis Kirsis, managing partner of consultancy World Steel Dynamics (WSD), who said Tuesday that "iron ore will no longer be king" because China's obsolete scrap reservoir will grow to massive proportions over the next decade or so.
Washington (Platts)--18Jun2013/229 pm EDT/1829 GMT
US service centers shipped 132,400 mt of aluminum products in May, down 2.7% from May 2012, the Metals Service Center Institute said Tuesday.
Tokyo (Platts)--18Jun2013/728 am EDT/1128 GMT
Chinese traders, who typically stockpile molybdenum imports when prices approach $10/lb, are unlikely to do so in the coming weeks as demand is seen staying low in China, traders said Tuesday.
London (Platts)--18Jun2013/700 am EDT/1100 GMT
Stainless steel has shown the strongest growth of all the major metals, yet the supply/demand imbalance has made stainless a low-profit industry, John Rowe, secretary-general of the International Stainless steel Forum, said at a conference.
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