NDO 4.49% 85.0¢ nido education limited

http://www.aspo-usa.com/index.php?option=com_docman&task=cat_view...

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    http://www.aspo-usa.com/index.php?option=com_docman&task=cat_view&gid=27&Itemid=66

    There is a nice website and good graphs to read!!

    Last report was interesting - expect the SPR to be lower in the coming weeks.. of course the market overall could cause other issues..

    "A last minute jog to the east left most Houston refineries without major wind and water damage from Ike; however the hurricane caused unprecedented damage to the electric grid around Houston and in western Louisiana. Some 16 refineries which produce about a quarter of US gasoline supplies were shut down from lack of power and crude or are facing delayed flooding from swollen rivers. About 4.5 million people could face weeks of power outages. In Beaumont, TX damage was so extensive that local officials estimate it could take more than a month to restore power.
    Refining problems began on September 1st when over 3 million b/d of Louisiana production was shut down or operated at reduced capacity due to Gustav. Because of power problems and a slow recovery of production from Gulf platforms, production continued at about 1.5 million b/d below normal during the week between the hurricanes. As Ike approached over 4 million b/d was shut down.
    Much of the production from these refineries is sent through two pipelines with a combined capacity of 3 million b/d to southern and east coast states. It takes about 18 days for oil products to make the pipeline trip from Texas to New Jersey; therefore the impact of reduced refining is only now being felt across the southeast.
    Prices jumped rapidly and shortages developed over the weekend when motorists flocked to stations to fill up their tanks. For the next week or so, the situation can only get worse. Major product pipelines are closed or nearly so due to lack of product. By the end of the week there should be little or no new gasoline, diesel, and jet fuel arriving at terminals south of Washington which will have to make do with local stocks.
    How long this situation will exist is unknown. The federal government obviously will encourage the Texas and Louisiana power companies to give top priority to restoring power to refineries and pumping stations as the economic and political damage wrought by widespread fuel shortages will be costly. On Sunday, the Department of Energy began releasing oil from the Strategic Petroleum Reserve to refiners. Estimates of how long it will take to restore power to the bulk of the petroleum infrastructure range from one to two weeks. Texas Senator Bailey Hutchinson was told to expect that power outages will last for eight or nine days.
    Even as power and offshore oil production is restored, the distribution network will be largely empty and an abnormal amount of gasoline and diesel will be resting in hoarders’ gas tanks. After production starts, moving the fuel to southern and east coast distributors will take anywhere from one to three weeks. Shortages, much higher prices, and possibly some form of fuel allocations could persist for a month or more"

 
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