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Posts by "putko mafani"

245 Posts by Anonymous "putko mafani":
Putko Mafani
Cape Town, South Africa
Posted Anonymously
13 years ago
Feb 7, 2011 8:30
In Thread: EUR
@montmorency

Cat has some good posts from time to time but most of the time he is posting crap. Catnip has also no respect to the other people's approach to trading. So Subway is right. But I also think that it is time for subway to ignore the posts of catnip and we move on.
Putko Mafani
Cape Town, South Africa
Posted Anonymously
13 years ago
Feb 6, 2011 9:30
Of course I meant to test 89.70-90.10 and not 88.70-90.10 as written below.
Putko Mafani
Cape Town, South Africa
Posted Anonymously
13 years ago
Feb 6, 2011 9:13
@Asad

Given the gas pipeline blast over the weekend, I expect oil to jump and test 88.70-90.10 zone again when the markets reopen this evening and tomorrow. But as it was explained in detail below this blast has no material impact on oil flow. And I expect the downside pressure to resume once again as the stockpiles at Cushing are through the roof.
Putko Mafani
Cape Town, South Africa
Posted Anonymously
13 years ago
Feb 5, 2011 16:19
And this is the info for natural gas (LNG):

Liquefied Natural Gas (LNG)

Unlike oil, LNG transit through the Suez Canal has been on the rise since 2008, with the number of tankers increasing from approximately 430 to 760, and volumes of LNG traveling northbound (laden tankers) increasing more than four-fold. Southbound LNG transit originates in Algeria and Egypt, destined for Asian markets while northbound transit is mostly from Qatar and Oman, destined for European and North American markets. The rapid growth in LNG flows over the period represents the startup of five LNG trains in Qatar in 2009-2010. The only alternate route for LNG tankers would be around Africa as there is no pipeline infrastructure to offset any Suez Canal disruptions. Countries such as the United Kingdom and Italy received more than half of their total LNG imports via the Suez Canal in 2009 while over 90 percent of Belgiums LNG imports transited through the canal.
Putko Mafani
Cape Town, South Africa
Posted Anonymously
13 years ago
Feb 5, 2011 16:14
Here is the info. So canal + pipeline is total 4.3 million bbl/d:

Suez Canal

The Suez Canal is located in Egypt, and connects the Red Sea and Gulf of Suez with the Mediterranean Sea, spanning 120 miles. Year-to-date through November of 2010, petroleum (both crude oil and refined products) as well as liquefied natural gas (LNG) accounted for 13 and 11 percent of Suez cargos, measured by cargo tonnage, respectively. Total petroleum transit volume was close to 2 million bbl/d, or just below five percent of seaborne oil trade in 2010.

Almost 16,500 ships transited the Suez Canal from January through November of 2010, of which about 20 percent were petroleum tankers and 5 percent were LNG tankers. With only 1,000 feet at its narrowest point, the Canal is unable to handle the VLCC (Very Large Crude Carriers) and ULCC (Ultra Large Crude Carriers) class crude oil tankers. The Suez Canal Authority is continuing enhancement and enlargement projects on the canal, and extended the depth to 66 ft in 2010 to allow over 60 percent of all tankers to use the Canal.

Closure of the Suez Canal and the SUMED Pipeline would divert oil tankers around the southern tip of Africa, the Cape of Good Hope, adding approximately 6,000 miles to transit, increasing both costs and shipping time. According to a report released by the International Energy Agency (IEA), shipping around Africa would add 15 days of transit to Europe and 8-10 days to the United States.

SUMED Pipeline

The 200-mile long SUMED Pipeline, or Suez-Mediterranean Pipeline provides an alternative to the Suez Canal for those cargos too large to transit the Canal (laden VLCCs and larger). The pipeline has a capacity of 2.3 million bbl/d and flows north from Ain Sukhna, on the Red Sea coast to Sidi Kerir on the Mediterranean. The SUMED is owned by Arab Petroleum Pipeline Co., a joint venture between the Egyptian General Petroleum Corporation (EGPC), Saudi Aramco, Abu Dhabis National Oil Company (ADNOC), and Kuwaiti companies.


Putko Mafani
Cape Town, South Africa
Posted Anonymously
13 years ago
Feb 5, 2011 15:03
That is what I meant. Not significant direct impact on oil. But the market will sense the risk in this situation and will most probably price it thus pushing WTI again back up to test at least 90 level.
However I expect natural gas to be moving on Sunday evening as the below info suggests that Egypt's accounts for 35% of US LNG imports.
Putko Mafani
Cape Town, South Africa
Posted Anonymously
13 years ago
Feb 5, 2011 11:22
In Thread: EUR
Yeah, right. Thanks.
But don't you want Germany to rule the World? Fourth Reich etc.?
Putko Mafani
Cape Town, South Africa
Posted Anonymously
13 years ago
Feb 5, 2011 11:11
In Thread: EUR
@catnip

What is your take on this news:

Germany and France Roll Out Plan to Boost Euro
By STEPHEN CASTLE
Published: February 4, 2011

BRUSSELS Initiating a bold effort to strengthen the euro, Germany and France on Friday laid down far-reaching plans to deepen integration among the 17 nations that use the currency. The move prompted immediate opposition, but could lead to embryonic economic government for Europe.

Putko Mafani
Cape Town, South Africa
Posted Anonymously
13 years ago
Feb 5, 2011 11:09
@Gunjack @Asad

What is your take on oil after this news? Are you going to short oil if it gaps up on Sunday evening? Or you are going to wait for the dust to settle?
Putko Mafani
Cape Town, South Africa
Posted Anonymously
13 years ago
Feb 5, 2011 8:52
AlArabiya_Eng: Sources confirm that non-Egyptians were behind the gas pipeline blast in Sinai.


These Iranian et al provocateurs and infiltrators should be beheaded.