Don’t worry, just a little bump - $70 is just around the corner. Short traders just keep making those margin calls, mortgage the house if you have to. Fortunes await you! PO is for pansies and doomers. At $70 short some more ..... it is going back to $22 .... the world is awash with oil ........ reality has nothing to do with it, its all in those charts!!!!!!!!!!
Joined: May 27, 2007 Posts: 1172 Location: The Post Peak Oil Historian
Posted: Thu Aug 07, 2008 7:58 am Post subject: Turkey oil pipeline fire blazing after sabotage
The Baku-Tbilisi-Ceyhan (BTC) pipeline, which is still ablaze after an explosion, may not reopen for another one to two weeks, a senior source at Turkey's state-owned pipeline company Botas told Reuters on Thursday.
Stocks at the Ceyhan depot, which had been used to keep the one million barrels per day (bpd) pipeline flowing have run dry, the source said, following the explosion on Tuesday night. "The stocks of crude oil from the BTC pipeline stored in Ceyhan have been exhausted," the Botas source said.
Opened in 2006, the pipeline is the first to carry large volumes of Caspian crude without going through Russia.
The Botas source, who declined to be named, said the fire could take two more days to put out, while the repair of the pipeline would take one to two weeks. "The fire will continue longer than (previously) anticipated," the Botas source said.
"The method for fighting the fire is being discussed with the BTC management. Depending on the method used, the opening of the line may take one or two weeks," he added, without providing more details.
Kurdish separatists claimed responsibility for the blast which caused the blaze and helped to push oil prices higher.
British oil company BP Plc, a pipeline shareholder, said the BTC partners had declared force majeure on exports, freeing themselves from contractual obligations.
The $4 billion BTC pipeline pumps the equivalent of more than 1 percent of world supply from fields in the Azeri sector of the Caspian Sea to Ceyhan on the Turkish Mediterranean coast.
link _________________ In a time of deceit, telling the truth is a revolutionary act.
- George Orwell
Joined: Oct 23, 2004 Posts: 5410 Location: New Jersey
Posted: Thu Aug 07, 2008 10:00 am Post subject: Re: Turkey oil pipeline fire blazing after sabotage
Quote:
Baku-Tbilisi-Ceyhan Pipeline Shutdown Could Last 5 Wks -Botas DOW JONES NEWSWIRES August 7, 2008 5:49 a.m.
LONDON (Dow Jones)--The Baku-Tbilisi-Ceyhan oil pipeline could be shut down for up to five weeks following a fire Wednesday, a Botas International Ltd. spokesman said Thursday. "It will be shut down for a minimum of two weeks but (the shutdown) could last five weeks," the BIL spokesman said.
Botas operates the Turkish part of BTC, where the fire took place. U.K. oil giant BP PLC (BP) is in charge of the overall pipeline.
BTC transports on average 850,000 barrels a day of oil and condensates from Azerbaijani fields operated by BP and other companies to the Mediterranean terminal of Ceyhan in Turkey. A five-week shutdown would mean 30 million barrels not reaching the markets through BTC.
BP is set to be hurt financially by the shutdown both as the operator of BTC and as its client. It had to reduce output from its Azerbaijani fields and is diverting some of it to Russian routes.
WSJ _________________ It's already over, now it's just a matter of adjusting.
Posted: Thu Aug 07, 2008 10:10 am Post subject: Re: Turkey oil pipeline fire blazing after sabotage
It was only a matter of time before this happened. The BTC is so long and remote it is effectively indefensible.
If the Kurds, Al-Queda, Revolutionary Guard or a group of angry sheep herders wanted to they could keep the BTC offline forever.
Man are the Russian ever going to enjoy it when Obama has to come crawling to them to reroute the BTC to the black sea. For many reasons I really feel sorry for the man
Joined: Oct 23, 2004 Posts: 5410 Location: New Jersey
Posted: Sun Aug 10, 2008 5:46 pm Post subject: Re: Turkey oil pipeline fire blazing after sabotage
The fire still has not been put out, making those claims on Friday that the pipeline will be fixed within 10 days rather doubtful - to say the least.
Quote:
Pipeline Fire
BP, StatoilHydro ASA and other partners reduced crude production at the Azeri-Chirag-Gunashli and Shah Deniz fields in the Azeri part of the Caspian Sea on Aug. 8 after a fire on the Baku-Tbilisi-Ceyhan pipeline.
The fire in eastern Turkey is still burning, although flames are subsiding, Ebru Akdogan, a spokeswoman for Baku- Tbilisi-Ceyhan Co., said by phone today. She was unable to say when it will be put out and didn't have an estimate for how long repairs will take.
"We will need to extinguish the fire first and then we can see the damage,'' Akdogan said. Last Updated: 10 Aug 2008
Bloomberg _________________ It's already over, now it's just a matter of adjusting.
Joined: Oct 23, 2004 Posts: 5410 Location: New Jersey
Posted: Sun Aug 17, 2008 6:52 pm Post subject: Re: Turkey oil pipeline fire blazing after sabotage
12 days after the pipeline 'fire', the amount of time needed to make repairs is now uncertain. Initial cliams were that it could be fixed in 10 days (by August 15).
Quote:
The reopening of BTC pipeline remains unclear as repair continues
The examinations of the Baku-Tblisi-Ceyhan (BTC) are underway to establish how long the repairs would take as the explosion on the Turkish side of the line and Georgia-Russia conflict raised doubts over the safety of the key energy route.
"We don't know the extent of the damage and can't say whether the assessment will finish in a couple of days or not," she said.
Turkey's Energy Ministry expects the BTC pipeline, which can carry 1 million barrels a day, to resume operations in a week, a spokesman earlier said.
Shippers declared force majeure on exports from the Supsa and Ceyhan ports, a legal clause that exempts them from meeting contracted deliveries because of circumstances beyond their control.
Hot News Turkey _________________ It's already over, now it's just a matter of adjusting.
Joined: Oct 23, 2004 Posts: 5410 Location: New Jersey
Posted: Wed Aug 20, 2008 7:09 am Post subject: Re: Turkey oil pipeline fire blazing after sabotage
Azerbaijan to start shipping oil to Iran (see link).
Quote:
BP-Led Oil Pipeline to Resume Shipments Next Week
By Eduard Gismatullin and Ayla Jean Yackley
Aug. 20 (Bloomberg) -- The BP Plc-led Baku-Tbilisi-Ceyhan pipeline, which transports oil from Azerbaijan through Georgia to Turkey's Mediterranean coast, will resume tanker loadings next week following fire damage earlier this month.
BP, Europe's second-largest oil company, and other exporters of Azeri oil have been unable to use the 1,768- kilometer (1,100-mile) link since Aug. 5 when a blaze engulfed the pipeline in Erzincan province in northeastern Turkey.
BP, StatoilHydro ASA and partners had to reduce production at oil fields in the Azeri part of the Caspian Sea after flows halted through the pipeline, which has a capacity of 1 million barrels a day, about 1 percent of the world's supply. The military conflict in Georgia also highlighted risks for crude oil and natural gas transportation across the Caucasus.
BTC Co., which operates the link, will start ``testing of the line today before a move to full operation,'' the Turkey- based company said in an e-mailed statement. ``This will involve some limited and intermittent flow of oil through the pipeline.''
Shipping Schedule
A statement was sent to transporters so that ``the shipping schedule can be updated today for loadings to begin next week,'' Murat Lecompte, external affairs director for BTC, said in a telephone interview. Repairs are completed and exporters will be putting oil into the pipeline, while the testing will take a few days to complete, he said.
Another pipeline, which pumps 100,000 barrels of crude a day from the Azeri capital of Baku to the Georgian port of Supsa, has been shut on security concerns because of the fighting in Georgia. Shippers declared force majeure on exports from the Supsa and Ceyhan ports, a legal clause that exempts them from meeting contracts because of circumstances beyond their control.
Last Updated: August 20, 2008 08:32 EDT
Bloomberg _________________ It's already over, now it's just a matter of adjusting.
Joined: Oct 23, 2004 Posts: 5410 Location: New Jersey
Posted: Wed Aug 20, 2008 4:13 pm Post subject: Re: Turkey oil pipeline fire blazing after sabotage
Quote:
BP says Baku-Tbilisi-Ceyhan to start integrity testing Wednesday
Istanbul (Platts)--20Aug2008
Dynamic integrity testing on the 1 million b/d Baku-Tbilisi-Ceyhan crude pipeline, which has been closed for two weeks following an explosion, will begin later Wednesday, Murat Lecompte, a spokesman for BP Turkey, said Wednesday.
"The testing is the last stage before full pipeline operation," Lecompte said, adding that the final decision when to restart operations of BTC would depend on the results of the testing.
A BTC source told Platts the dynamic integrity testing would involve "some limited and intermittent flow of oil through the pipeline."
"For ship scheduling purposes, the lifting program at Ceyhan will be updated today to start loadings from the beginning of next week," the source said.
Lecompte said BP expected flows in the line to be restarted and for the line to have been refilled within the next few days, allowing for loading at the pipeline's terminal at Ceyhan to be restarted early next week.
However, he said he had no information on the status of production at either the Azeri-Chirag-Gunesli fields, which supply the bulk of throughput in BTC, or the Shah Deniz gas field, which also produces condensates for the BTC line. Both ACG and Shah Deniz were ramped down following the closure of BTC.
Platts _________________ It's already over, now it's just a matter of adjusting.
Joined: Oct 23, 2004 Posts: 5410 Location: New Jersey
Posted: Mon Aug 25, 2008 7:03 am Post subject: Re: Turkey oil pipeline fire blazing after sabotage
Quote:
BP Says Tankers to Resume Loadings Tomorrow From BTC (Update2) By Ayla Jean Yackley and Ladane Nasseri
Aug. 25 (Bloomberg) -- Tankers will begin loading oil tomorrow from the Baku-Tbilisi-Ceyhan pipeline for the first time since a fire affected the main outlet for Azeri crude to U.S. and European markets almost three weeks ago.
"The first tanker will dock after midnight tonight,'' said Murat Lecompte, an Istanbul-based spokesman for BP Plc, the main operator of the BTC link. "Loadings have not actually started yet,'' he said, revising an earlier statement from BP saying tankers were being loaded today.
Tomorrow's start to loadings follows repairs and testing after the pipe was closed on Aug. 5 when an explosion sparked a blaze on the 1,768-kilometer (1,100-mile) pipeline. The BTC carries as much as 1 million barrels of Azeri crude each day through Georgia to Turkey's Mediterranean coast.
The first tanker will take up to 15 hours to fill, depending on its size, Lecompte said in a phone interview. An average of two tankers are loaded daily when oil flows at normal levels.
"Flows will increase throughout the day today,'' Lecompte said.
"Maximum rates will be reached overnight.''
Bloomberg _________________ It's already over, now it's just a matter of adjusting.
Posted: Tue Aug 26, 2008 8:11 am Post subject: Re: Turkey oil pipeline fire blazing after sabotage
We were told by the media, parroting Saakashvili, that the BTC was bombed on Georgian territory. NATO punditry was and is still claiming Russia wants to control the BTC even though it never set foot in that part of Georgia.
Perhaps NATO should worry more about a military confrontation with Russia over the two buffer zones around Abkhazia (Poti-Senaki) and around South Ossetia (starting just north of Gori). In this case it will lose more than the fictional 1 million barrels per day through the BTC. It will lose the real 7 million barrels per day of Russian oil exports and 165 bcm per year of natural gas.
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