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To: Bearcatbob who wrote (163531)2/7/2012 10:38:48 PM
From: Robohogs1 Recommendation   of 178576
 
I am pissed I missed it. Dan Dicker was adding to SD and to ATPG in recent week or so.

Jon

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To: Archie Meeties who wrote (163559)2/8/2012 4:02:36 AM
From: elmatador   of 178576
 
Oil Corruption May Threaten Angola, Nigeria, Global Witness Says Feb. 8 (Bloomberg) -- Nigeria and Angola, Africa’s biggest oil producers, have granted stakes in oil fields to companies that may be acting as fronts for government officials, stifling development in both countries, according to anti-corruption group Global Witness.

While increased oil output has generated billions of dollars for Angola and Nigeria, the misappropriation of public funds by corrupt officials remains one of the main causes of poverty in those countries, the London-based organization said today in an e-mailed report.

“Too often private ‘shell’ companies with opaque ownership structures are awarded lucrative concessions, with little information available as to who the beneficial owners of the company are,” Global Witness said.

Angola and Nigeria have said they’re making progress in fighting corruption and improving oil-industry transparency to attract foreign investors fleeing Europe’s debt crisis. Nigeria is Africa’s top oil producer, pumping about 2.14 million barrels a day last month, according to data compiled by Bloomberg, while Angola’s output was almost 1.79 million barrels a day.

Global Witness was one of two organizations nominated by members of the U.S. Congress for the 2003 Nobel Peace Prize for its work reporting links between armed conflict and diamonds in Africa.

Angola, which is in the final stage of a $1.4 billion loan program with the International Monetary Fund, has increased the amount of information available on the flow of crude revenue, Global Witness said. While Nigeria has also adopted measures to bolster transparency in the oil industry, both countries need to do more to fight corruption, it said.

Government Officials

The owners of Sociedade de Hidrocarbonetos de Angola (SHA), a private company that pre-qualified for an oil license tender in 2007 that was later suspended, had the same names as senior Angolan government officials, Global Witness said.

Joao Rosa Santos, a spokesman for Angolan state-owned oil company Sonangol EP, which grants oil licenses, didn’t answer three calls to his mobile phone seeking comment. SHA General Manager Marques Carreira said there was nothing illegal about his company’s shareholders or the 2007 oil license tender.

“In Angola, a member of government can be a shareholder in a private company as long as he doesn’t have an executive role in that company,” Carreira said in a phone interview from Luanda, the Angolan capital. “Global Witness should mind its own business.”

Global Witness also reported that a private Angolan company called Grupo Gema obtained a small stake in an oil license at the time when it had two shareholders with the same names as government officials. Jose Leitao, president of Grupo Gema, did not return two calls to his company in Luanda seeking comment.

‘Resource Curse’

In Nigeria, the owner of a company that bid for a share in oil contracts in 2005 may have been the senator chairing a committee that oversaw the upstream oil industry in that country, Global Witness said.

Levi Ajuonuma, a spokesman for state-owned Nigeria National Petroleum Corp., didn’t answer three phone calls seeking comment on the report.

Global Witness also cited examples of lack of transparency in the Democratic Republic of Congo’s oil and mining sectors. A “resource curse” in Angola, Nigeria and Congo has stifled development, it said.

About 70 percent of Angolans and 80 percent of Nigerians live on less than $2 a day, while one in five children in the Democratic Republic of Congo dies before its fifth birthday and more than half the population lives on less than $1.25 a day, according to Global Witness.

‘More Transparency’

“African countries with mineral resources have too long been held back from prosperity by a baleful history of collusion between corrupt and incompetent rulers,” the organization said. “More transparency would ensure a more open competition and one that is fairer to countries and their citizens.”

Angola and the Democratic Republic of Congo both placed 168th out of 182 total rankings in a Global Perceptions Index of countries released in December by Transparency International, the Berlin-based anti-graft watchdog. Nigeria’s ranking was 143.

--With assistance from Elisha Bala-Gbogbo in Lagos. Editors: Karl Maier, Jerrold Colten

To contact the reporter on this story: Henrique Almeida in Lisbon at halmeida5@bloomberg.net

To contact the editor responsible for this story: Jerrold Colten at jcolten@bloomberg.net

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To: Dennis Roth who wrote (163233)2/8/2012 5:11:47 AM
From: Dennis Roth3 Recommendations   of 178576
 
CS Take on MLPs
Weekly Analysis
Ethane - Things Aren't Always As They Appear
32 pages, 55 exhibits
Download Link: sendspace.com 

Ethane Update – The drop in ethane prices since its peak last year
(10/21/2011) may be attributable to planned turnarounds at ethylene plants
and the precipitous drop in natural gas prices. Natural gas prices typically
set the floor underneath ethane prices. If prices fall too low, ethane might be
left in the natural gas stream. However, the steep drop in ethane prices
needs to be placed in proper context. NGL fundamentals remain strong
even with the drop in ethane prices (ethane represents ~40% of the NGL
barrel by volume but represents only 20% of the overall economics). The
remainder of the NGL barrel correlates more closely with crude oil prices,
which are expected to remain firm. To note, NGL component prices,
propane and iso-butane, have held up relatively well compared to ethane;
and butane and natural gasoline prices have risen over the same period
(please see pg.3).

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To: Dennis Roth who wrote (163535)2/8/2012 5:34:20 AM
From: Dennis Roth3 Recommendations   of 178576
 
Anadarko Petroleum Corp (APC)
Solid Q4’11; Much More In Store For 2012 Starting Next Month...
7 February 2012 ¦ 19 pages
citigroupgeo.com 

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From: johnlw2/8/2012 6:00:33 AM
9 Recommendations   of 178576
 

nytimes.com 

February 6, 2012
Poisoned Politics of Keystone XL By JOE NOCERA
On Monday, Stephen Harper, the prime minister of Canada, traveled to China for a week of high-level meetings. He brought with him a handful of his cabinet ministers, including Joe Oliver, his tough-talking minister of natural resources who, until recently, had been withering in his scorn for the opponents of the Keystone XL oil pipeline, which President Obama rejected a few weeks ago. The pipeline, of course, was intended to transport vast oil reserves in Alberta to the American refineries on the Gulf of Mexico.

Oliver no longer talks so freely about the environmental critics of the Keystone pipeline; all of Harper’s ministers have been instructed to stop making comments that might be construed as interfering in the American presidential election. But there are other, more diplomatic, ways to send messages. Like going to China with your cabinet members and cutting energy deals with a country that has, as The Globe and Mail in Toronto put it recently, a “thirst for Canadian oil.” Oil, I might add, that may be a little dirtier than the crude that pours forth from the Saudi Arabian desert — that is one of the main reasons environmentalists say they oppose Keystone — but is hardly the environmental disaster many suppose.

I realize that President Obama rejected Keystone because, politically, he had no choice. My guess is that, in his centrist heart of hearts, the president wanted to approve it. But to give the go-ahead before the election was to risk losing the support of the environmentalists who make up an important part of his base.

I also understand that the Republican decision to force Obama’s hand was a political stunt, allowing them to denounce his decision during the campaign. As Jennifer Steinhauer put it in The Times recently, “Republicans are framing Keystone as an urgent jobs and energy project at a time of high unemployment and creeping gasoline prices.”

Surely, though, what the Keystone decision really represents is the way our poisoned politics damages the country. Environmental concerns notwithstanding, America will be using oil — and lots of it — for the foreseeable future. It is the fundamental means by which we transport ourselves, whether by air, car or truck. Where do we get that oil? Mostly from countries that don’t like us, like Venezuela, which has the world’s second-largest oil reserves.

And here is Canada, a staunch American ally that has historically sold us virtually all of its crude exports. Over the past two decades, energy companies have invested tens of billions of dollars in the tar sands, so much so that Canada now ranks No. 3 in estimated oil reserves. Along with the natural gas that can now be extracted thanks to hydraulic fracturing — which, of course, all right-thinking environmentalists also oppose — the oil from the Canadian tar sands ought to be viewed as a great gift that has been handed to North America. These two relatively new sources of fossil fuels offer America its first real chance in decades to become, if not energy self-sufficient, at least energy secure, no longer beholden to OPEC. Yet these gifts have been transformed, like everything else, into political footballs.

In Canada, the Keystone XL controversy has created a surprising new resolve. “Keystone was a transformative turning point in terms of how Harper sees the bilateral relationship,” says Fen Hampson, a professor of international affairs at Carleton University in Ottawa. Instead of blithely assuming the United States would purchase its oil, Canada is now determined to find diverse buyers so it won’t be held hostage by American politics. Hence, the newfound willingness to do business with China. Canada has concluded that it simply can’t expect much from the United States, even on an issue that would seem to be vital to our own interests.

As it turns out, the environmental movement doesn’t just want to shut down Keystone. Its real goal, as I discovered when I spoke recently to Michael Brune, the executive director of the Sierra Club, is much bigger. “The effort to stop Keystone is part of a broader effort to stop the expansion of the tar sands,” Brune said. “It is based on choking off the ability to find markets for tar sands oil.”

This is a ludicrous goal. If it were to succeed, it would be deeply damaging to the national interest of both Canada and the United States. But it has no chance of succeeding. Energy is the single most important industry in Canada. Three-quarters of the Canadian public agree with the Harper government’s diversification strategy. China’s “thirst” for oil is hardly going to be deterred by the Sierra Club. And the Harper government views the continued development of the tar sands as a national strategic priority.

Thus, at least one country in North America understands where its national interests lie. Too bad it’s not us.




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To: Dennis Roth who wrote (162036)2/8/2012 6:48:44 AM
From: Dennis Roth2 Recommendations   of 178576
 
Superior Energy Services Inc. (SPN)
Upwardly Revising EPS and Price Target on CPX Acquisition
7 February 2012 ¦ 13 pages
ir.citi.com 

We have revised our SPN model to reflect the Complete Production Services
acquisition. On our new estimates, SPN trades at a significant discount to the
diversified services peers which it most closely resembles. The stock trades
closer to the levels of the land drilling comps, which we believe are less
representative of SPN's diverse business mix. We believe SPN's multiples will
expand to a level somewhere between the two peer groups when and as its long-
term earnings power is better gauged. We have increased our price target on
SPN to $41 from $38.

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To: elmatador who wrote (163562)2/8/2012 6:55:12 AM
From: Salt'n'Peppa4 Recommendations   of 178576
 
*OT* "Oil Corruption May Threaten Angola, Nigeria, Global Witness Says Feb. 8 (Bloomberg) -- Nigeria and Angola, Africa’s biggest oil producers, have granted stakes in oil fields to companies that may be acting as fronts for government officials, stifling development in both countries, according to anti-corruption group Global Witness.

While increased oil output has generated billions of dollars for Angola and Nigeria, the misappropriation of public funds by corrupt officials remains one of the main causes of poverty in those countries, the London-based organization said today in an e-mailed report."

Well, that's a shocker! LOL
Ground breaking research by Global Witness here.

It has been this way in Africa since time began.
Probably started with animal herds, then minerals, precious metals and now oil.
The situation is totally wrong, but the cynic in me recognises human nature and the fact that it will likely never change in The Dark Continent until they evolve from the tribal system.
Nothing new to see here. Move along folks...

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To: Salt'n'Peppa who wrote (163567)2/8/2012 6:59:49 AM
From: Bearcatbob1 Recommendation   of 178576
 
The surprise would be if it was otherwise. The problem is universal - only in some places it is more subtle. A great skill of government officials is looting the treasury for their own benefit. The only thing that changes with elections is who loots the treasury.
Bob

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To: johnlw who wrote (163565)2/8/2012 7:01:14 AM
From: Bearcatbob8 Recommendations   of 178576
 
"My guess is that, in his centrist heart of hearts, the president wanted to approve it."

What planet is the author living on?



"As it turns out, the environmental movement doesn’t just want to shut down Keystone. Its real goal, as I discovered when I spoke recently to Michael Brune, the executive director of the Sierra Club, is much bigger. “The effort to stop Keystone is part of a broader effort to stop the expansion of the tar sands,” Brune said. “It is based on choking off the ability to find markets for tar sands oil.” "


Was this guy born yesterday?

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From: Dennis Roth2/8/2012 7:04:01 AM
1 Recommendation   of 178576
 
THE IMPACT OF UNCONVENTIONAL GAS ON EUROPE
A report to Ofgem
by Pöyry Management Consulting (UK) Ltd
June 2011
but just recently made public?
114 pages, 55 figures

ofgem.gov.uk 

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