Business: OPEC crude output rises to 32.47 mln BPD in June: Platts survey

London, (ANTARA News/PRNewswire-AsiaNet) - The 13 members of the Organization of Petroleum Exporting Countries (OPEC) pumped an average 32.47 million barrels per day (b/d) of crude oil in June, an increase of 230,000 b/d from the May level of 32.24 million b/d, according to the latest Platts survey of OPEC and oil industry officials. Higher volumes from Saudi Arabia accounted for almost all of the increase.

Excluding Iraq, the 12 members bound by OPEC output agreements pumped an average 29.98 million b/d in June, up from 29.75 million b/d in May, and 307,000 b/d in excess of their 29.673 million b/d output target, the survey showed.

Saudi Arabia produced an average 9.45 million b/d, which is up 210,000 b/d from the previous month. The Saudi government, during US President George Bush's visit in May, said that it would boost output to 9.45 million b/d in June. The government has since said it will increase output further in July, to 9.7 million b/d, in line with increased demand.

Other smaller increases totaling 80,000 b/d came from Iran, Angola, Kuwait and Qatar.

The only production decrease in June came from Nigeria, whose output fell 60,000 b/d to 1.8 million b/d as militant activity disrupted some operations.

Iraqi output was largely unchanged; a dip in exports was offset by higher internal consumption.

"The Saudis did their part, raising their output precisely to the levels they promised," said Platts Global Director of Oil John Kingston. "It isn't clear whether this additional Saudi crude is going to go into consumption or inventory, but either way, it should find a home."

For more information on OPEC, go to the "Platts Guide to OPEC" at http://www.opec.platts.com. For production numbers by country, a table is available at http://www.platts.com/Oil Resources/News%20Features/opec/prod_table.xml.

About Platts:

Platts, a division of The McGraw-Hill Companies (NYSE: MHP), is a leading global provider of energy and commodities information. With nearly a century of business experience, Platts serves customers across more than 150 countries. From 17 offices worldwide, Platts serves the oil, natural gas, electricity, nuclear power, coal, emissions, petrochemical, shipping and metals markets. Platts' real time news, pricing, analytical services, and conferences help markets operate with transparency and efficiency. Traders, risk managers, analysts, and industry leaders depend upon Platts to help them make better trading and investment decisions. Additional information is available at http://www.platts.com.

For additional information on The McGraw-Hill Companies visit http:/www.mcgraw-hill.com.

SOURCE Platts
CONTACT: Kathleen Tanzy
+1-212-904-2860
Kathleen_tanzy@platts.com
Europe: Shiona Ramage
+44207-1766153
Asia: Casey Yew,
+65-653-06552
Web site: http://www.platts.com
http://www.opec.platts.com

Energy: Platts now reporting prices of iron ore delivered to China

London, (ANTARA News/PRNewswire-AsiaNet) - Platts, one of the world's foremost providers of energy and metals information, today announced it has expanded its suite of daily spot price assessments to include seaborne iron ore delivered to China, iron ore's largest consuming market.

The new daily iron ore price assessment, to be known as Platts IODEX, addresses miners' and steel makers' need for an independent market assessed spot price against which to better determine pricing for short- and long-term contracts.

"This year's incredible price rise in steelmaking raw materials spurred a shock wave of price increases throughout the steel products markets, the degree of which caught many by surprise," said Francis Browne, Platts' Global Director of Steel. Finished steel prices have risen by nearly 100% since late 2007, fuelled largely by higher costs of iron ore, which is used to feed blast furnaces. "It's our hope that daily price assessments from Platts will facilitate the industry's need for more timely price information and help mitigate such surprises in the future," explained Browne.

The Platts iron ore price assessments will capture the value in U.S. dollars per dry metric ton ($/dmt) of iron ore fines normalized to 62% iron (Fe) content with standardized impurities shipped on a cost and freight (CFR) basis to main Chinese ports. The price assessments, which began June 2nd, are reported in Platts Steel Markets Daily, an online and print publication containing news, market commentary and price information aimed at the steel, construction, and auto industries as well as commodities-focused money managers worldwide.

Platts' price assessment methodology in steel, scrap and iron ore has been developed in consultation with a cross section of key industry players and draws upon Platts' century of experience in benchmark price reporting in the energy markets. For more information about the Platts price assessment process, click here:http://tinyurl.com/4hffur

Platts has reported on the broader supply and demand fundamentals of the metals markets for 30 years, drawing on the tradition of its parent company, The McGraw-Hill Companies, which has covered the metals market for more than 75 years.

About Platts:

Platts, a division of The McGraw-Hill Companies (NYSE: MHP), is a leading global provider of energy and commodities information. With nearly a century of business experience, Platts serves customers across more than 150 countries. From 17 offices worldwide, Platts serves the oil, natural gas, electricity, nuclear power, coal, emissions, petrochemical and metals markets. Platts' real time news, pricing, analytical services, and conferences help markets operate with transparency and efficiency. Traders, risk managers, analysts, and industry leaders depend upon Platts to help them make better trading and investment decisions. Additional information is available at http://www.platts.com

About The McGraw-Hill Companies:

Founded in 1888, The McGraw-Hill Companies (NYSE: MHP) is a leading global information services provider meeting worldwide needs in the financial services, education and business information markets through leading brands such as Standard & Poor's, McGraw-Hill Education, BusinessWeek and J.D. Power and Associates. The Corporation has more than 280 offices in 40 countries. Sales in 2007 were $6.8 billion. Additional information is available at http://www.mcgraw-hill.com

SOURCE: Platts
CONTACT: Global Contact:
Kathleen Tanzy
+1-212-904-2860
kathleen_tanzy@platts.com
Europe:
Shiona Ramage
+44-207-176-6153
Asia:
Casey Yew
+65-653-06552
Web site: http://www.platts.com
http://www.mcgraw-hill.com
http://tinyurl.com/4hffur

Energy: Platts seeks nominations for its 10th annual Global Energy Awards

New York, (ANTARA News/PRNewswire-AsiaNet) - Platts, the world's foremost energy information provider and a division of The McGraw-Hill Companies (NYSE: MHP), is currently seeking nominations for the 10th annual Platts Global Energy Awards, which recognize excellence of companies and individuals in the global energy industry.

On Wednesday, December 3, 2008, Platts, along with principal sponsor Capgemini, will host the annual black-tie dinner and awards ceremony in New York City at Cipriani Wall Street. The Platts Global Energy Awards is one of the most recognized awards programs in the industry.

Platts is seeking nominations in 18 categories, including Energy Company of the Year (2007 winner: NRG Energy), CEO of the Year (2007 winner: Jim Rogers, Duke Energy), Lifetime Achievement Award (2007 winner: Lord Ernest Ronald Oxburgh), Downstream Business of the Year (2007 winner: Valero Energy Corporation), Rising Star Award (2007 Winner: AED Oil Limited), and Energy Transporter of the Year (2007 winner: Sovcomflot), among others.

"In the 10 years of Platts Global Energy Awards, the awards categories have grown in number and scope reflecting the industry's portfolio diversification, changes in priorities, and even the way the industry sees itself," said Platts President Victoria Chu Pao. "This year's three new awards will spotlight sustainability, a theme sure to lead innovation and growth over the next ten years."

New or updated categories for 2008 include Strategic Energy Investment of the Year, Sustainable Technology Innovation of the Year, and Sustainable Energy Initiative of the Year (a new combination of the former awards Energy Efficiency Initiative of the Year and Green Energy Innovator of the Year -- won in 2007 by Toronto Hydro-Electric System Limited and Applied Materials, Inc, respectively. Downstream Company of the Year and Risk Management Innovator of the Year awards both include new criteria.

Other categories to be awarded include Commercial Technology of the Year, Community Development Program of the Year, ENR Energy Construction Project of the Year, Hydrocarbon Producer of the Year, Industry Leadership Award, Marketing Campaign of the Year, Power Company of the Year, and Engineering Project of the Year.

Any company doing business in the energy industry is eligible for these awards. Nominations may be submitted by the energy companies themselves, from clients, vendors, and other associates. To submit a nomination, learn more about the award categories, and see past winners and photos, visit www.globalenergyawards.com All nominations must be received by September 12, 2008 to be considered.

A limited number of sponsorships are still available for this year's tenth anniversary celebration. For more information contact Vicki Peterson at Vicki_peterson@platts.com or +1 970-461-1090.

Fast Facts about the Platts Global Energy Awards:

* Platts receives more than 200 nominations each year.

* Nominations have come from more than 30 countries including Brazil, India, Puerto Rico, Saudi Arabia, South Africa, Spain, Russia, Switzerland, Argentina, China, Pakistan, Bangladesh, Thailand, United Kingdom and the United States.

* This is the sixth consecutive year that Capgemini is the principal sponsor of the Platts Global Energy Awards; this is the second consecutive year that Spectra Energy is a co-sponsor.

* Platts is proud to count former OPEC energy ministers, national regulators, former heads of major energy companies and leading academics and legislators among its judges, past and present.

* Each category has a minimum of 4-5 key criteria against which the judges will evaluate each nomination.

* The Platts Global Energy Awards have been described by past entrants and winners as both the "World Series" and "Academy Awards" of energy.

About Platts:

Platts, a division of The McGraw-Hill Companies (NYSE: MHP), is a leading global provider of energy and commodities information. With nearly a century of business experience, Platts serves customers across more than 150 countries. From 17 offices worldwide, Platts serves the oil, natural gas, electricity, nuclear power, coal, petrochemical, emissions, shipping and metals markets. Platts' real time news, pricing, analytical services, and conferences help markets operate with transparency and efficiency. Traders, risk managers, analysts, and industry leaders depend upon Platts to help them make better trading and investment decisions. Additional information is available at http://www.platts.com

About The McGraw-Hill Companies:

Founded in 1888, The McGraw-Hill Companies (NYSE: MHP) is a leading global information services provider meeting worldwide needs in the financial services, education and business information markets through leading brands such as Standard & Poor's, McGraw-Hill Education, BusinessWeek and J.D. Power and Associates. The Corporation has more than 280 offices in 40 countries. Sales in 2007 were $6.8 billion.

Additional information is available at http://www.mcgraw-hill.com

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SOURCE: Platts
CONTACT: Kathleen Tanzy
+1-212-904-2860
Kathleen_tanzy@platts.com
Europe:
Shiona Ramage
+44207 1766153
Shiona_ramage@platts.com
Asia:
Casey Yew
+65 653 06552
Casey_yew@platts.com
Web site: http://www.platts.com
http://www.globalenergyawards.com
http://www.mcgraw-hill.com

Metal/Mining: OPEC pumps 32.24 million barrels of oil per day in May: Platts Survey

Platts Survey: OPEC pumps 32.24 million barrels of crude oil per day in May, up 370,000 b/d from April

London (ANTARA News/PRNewswire-AsiaNet) - The 13 members of the Organization of Petroleum Exporting Countries (OPEC) pumped an average 32.24 million barrels per day (b/d) of crude oil in May, an increase of 370,000 b/d from April's 31.87 million b/d, according to a Platts survey of OPEC and oil industry officials just released.

Production from the 12 members bound by output agreements rose 260,000 b/d to 29.75 million b/d in May, from 29.49 million b/d in April, the survey showed. A sharp fall in Nigerian production was the main reason for the lower April numbers. Nigerian output, estimated at 1.86 million b/d in May, showed some recovery but was still well below pre-April levels of more than 2 million b/d.

The biggest volume increases in May came from Saudi Arabia and Iraq. Saudi production was estimated at 9.24 million b/d, up 140,000 b/d from April's 9.1 million b/d. Saudi Arabia said last month its June production would average 9.45 million b/d.
Iraqi volumes, which averaged 2.38 million b/d in April, rose to 2.49 million b/d in May, an increase of 110,000 b/d. Other smaller increases came from Angola, Ecuador, Kuwait, Qatar, the UAE and Venezuela. The increases were partly offset, however, by output drops in Iran and Libya.

The survey shows the OPEC-12 exceeding their 29.673 million b/d target by 77,000 b/d. A senior OPEC delegate said Monday that OPEC ceilings and quotas had become largely irrelevant and that OPEC had a "tacit" understanding that those members capable of boosting crude production should supply as much oil as world oil markets needed.

"It's clear that with non-OPEC output continuing to sag, and world demand staying flat regardless of high prices, that any additional supply most likely must come from OPEC," said Platts Global Director of Oil John Kingston. "The International Energy Agency report released Tuesday morning says the world drew stocks in April, and that's not supposed to happen. Stocks are supposed to build in the second quarter, in anticipation of a fourth quarter stock draw. But with OPEC spare capacity down to 2 million b/d, according to the IEA, its ability to put much more oil on the market looks severely constrained."

For a country-by-country breakdown of the Platts survey production numbers and additional information such as the "Platts Guide to OPEC", go to http://www.opec.platts.com.

About Platts:

Platts, a division of The McGraw-Hill Companies (NYSE: MHP), is a leading global provider of energy and commodities information. With nearly a century of business experience, Platts serves customers across more than 150 countries. From 17 offices worldwide, Platts serves the oil, natural gas, electricity, nuclear power, coal, emissions, petrochemical, shipping and metals markets. Platts' real time news, pricing, analytical services, and conferences help markets operate with transparency and efficiency. Traders, risk managers, analysts, and industry leaders depend upon Platts to help them make better trading and investment decisions. Additional information is available at http://www.platts.com.

About The McGraw-Hill Companies:

Founded in 1888, The McGraw-Hill Companies (NYSE: MHP) is a leading global information services provider meeting worldwide needs in the financial services, education and business information markets through leading brands such as Standard & Poor's, McGraw-Hill Education, BusinessWeek and J.D. Power and Associates. The Corporation has more than 280 offices in 40 countries. Sales in 2007 were $6.8 billion. Additional information is available at http://www.mcgraw-hill.com.

SOURCE Platts
CONTACT: Kathleen Tanzy
+1-212-904-2860
Kathleen_tanzy@platts.com
Europe: Shiona Ramage +44207-1766153
Asia: Casey Yew +65-653-06552
Web site: http://www.platts.com
http://www.opec.platts.com
http://www.mcgraw-hill.com

Energy: Platts Lecture to Feature Dr. Madeleine K. Albright

'Sense and Sustainability: What Strategies Will Really Work to Create a New Energy Future?'

New York, (ANTARA News/PRNewswire-AsiaNet) - Platts, a leading global provider of energy and commodities information and a division of The McGraw-Hill Companies (NYSE: MHP), today announced that Dr. Madeleine K. Albright, principal of the Albright Group, former U.S. Secretary of State and distinguished American diplomat, will be a featured speaker at its second annual Platts Lecture on December 3, 2008 at Deutsche Bank, 60 Wall Street in New York City.

As the world struggles with surging population, the rise of new political powers, and the possible socio-political implications of climate change, it's certain that international politics will play a key role in any energy sustainability policy. Dr. Albright, with decades of global political experience, will examine the crucial issues in international relations that must underpin any truly global strategy to resolve the three-way tension between greenhouse gas reduction, energy security and energy cost.

"Platts has had a 100-year tradition of combining energy market intelligence with insightful political and economic analysis," said Victoria Chu Pao, president of Platts. "The Platts Lectures provide a forum for serious industry debate, and we are honored to welcome Dr. Albright to share her unique global perspective on the political and other forces which will shape how governments approach strategies to secure the world's energy future."

The Platts Lecture -- "Sense and Sustainability: What Strategies Will Really Work to Create a New Energy Future?" will be attended by hundreds of senior executives from across the globe representing all energy sectors and the financial community. Dr. Albright will be joined by additional Lecture speakers that will include globally renowned industry leaders and academics who excel in thought leadership and innovation. The event coincides with the 10th Anniversary of the annual Platts Global Energy Awards Gala. Visit http://www.platts.com Events/ for more information.

The Platts Lecture series aspires to raise the level of global energy industry debate, creating the definitive forum for examining serious long-term issues facing the world's energy businesses and policy-makers.

R.W. Beck, a leading provider of business and technical consulting, is returning for a second year as the principal sponsor of the 2008 Platts Lecture. R. W. Beck, Inc.
(rwbeck.com) is a technically based business consulting firm providing engineering, economic, financial and planning solutions for the energy, water and solid waste industries.

Media wishing to attend the Platts Lecture and/or the 10th Annual Platts Global Energy Awards Gala and events may register at the following address: http://platts.lecture.sgizmo.com Non-media may register to attend by visiting http:/www.platts.com/GEAWeb/resources/jsp/lecture.jsp For sponsorship or additional event information, contact Patsy Wurster at 720-548-5583, or patsy_wurster@platts.com

About Platts:

Platts, a division of The McGraw-Hill Companies (NYSE: MHP), is a leading global provider of energy and metals information. With nearly a century of business experience, Platts serves customers across more than 150 countries. From 17 offices worldwide, Platts serves the oil, natural gas, electricity, emissions, nuclear power, coal, petrochemical, shipping and metals markets. Platts' real time news, pricing, analytical services, and conferences help markets operate with transparency and efficiency. Traders, risk managers, analysts, and industry leaders depend upon Platts to help them make better trading and investment decisions. Additional information is available at http://www.platts.com

SOURCE: Platts
CONTACT: Europe:
Shiona Ramage
+44207 1766153
Shiona_ramage@platts.com
Asia:
Casey Yew
+65 653 06552
Casey_yew@platts.com
Kathleen Tanzy
212-904-2860
Kathleen_tanzy@platts.com
Web site: http://www.mcgraw-hill.com
http://www.platts.com
http://platts.lecture.sgizmo.com
http://www.platts.com/GEAWeb/resources/jsp/lecture.jsp

Environment: US EPA chief sketches process for greenhouse gas rules

At Platts Energy podium, EPA chief sketches process for greenhouse gas regulations

Washington (ANTARA News/PRNewswire-AsiaNet) - The head of the US Environmental Protection Agency (EPA) on Monday said he may not decide on greenhouse gas emissions regulations under the Clean Air Act before President Bush leaves office in January.

EPA Administrator Stephen Johnson added that either he "or the next administrator" of the agency would finalize any possible climate change regulations that may emerge from a call for public comments that EPA plans to issue by June 21.

"It is critical that we lay that all out and have the public input," he said at a Platts Energy Podium in Washington.

Johnson said that he would "prefer" to see legislation to deal with climate change and carbon dioxide emissions (CO2) rather than use existing laws such as the Clean Air Act.

"My experience says that a legislative fix is a much more efficient and effective approach," he said.

The US Supreme Court last year designated carbon dioxide, the most common of all greenhouse gases, a pollutant under the Clean Air Act.

"I don't believe that the Clean Air Act is the most efficient and effective way of addressing a new pollutant that is a global pollutant," he said. "It was never intended for a global air pollutant."

The impending notice, called an Advanced Notice of Proposed Rulemaking, will respond to the Supreme Court decision in Massachusetts v. EPA. The case addressed only emissions from cars and trucks and said that if EPA determined that climate change posed a danger to the public, the agency had to regulate CO2.

Johnson reiterated his agency's concern that if greenhouse gases are regulated from mobile sources alone, the "interconnectedness" of provisions within the law could trigger regulations on other economic sectors as well.

Johnson did not back a specific approach for reducing emissions -- emissions trading or a carbon tax -- nor did he say whether any legislation Congress passes should have mandatory caps on emissions.

"It needs to be done in a responsible way," he said. "A market-based approach is the most efficient and most effective."

The Senate plans to debate in June a cap-and-trade bill written by Senators Joseph Lieberman and John Warner. The bill (S. 2191) would limit emissions and allow companies to trade permits to pollute. Their legislation mandates an emissions cut of about 66% from 2005 levels by 2050.

Sponsored by Platts, a division of The McGraw-Hill Companies, Platts Energy Podium provides an ongoing forum for prominent newsmakers and the press to address important energy and environmental issues. Members of the media may receive complementary registration for Energy Podium events by contacting Nancy Covey at 202-942-8719, Nancy_Covey@platts.com.

A recording of the Stephen Johnson session is available via
podcast at http://platts.com/energypodium/index.xml/

About Platts:

Platts, a division of The McGraw-Hill Companies (NYSE: MHP), is a leading global provider of energy and commodities information. With nearly a century of business experience, Platts serves customers across more than 150 countries. From 17 offices worldwide, Platts serves the oil, natural gas, electricity, nuclear power, coal, emissions, petrochemical and metals markets. Platts' real time news, pricing, analytical services, and conferences help markets operate with transparency and efficiency. Traders, risk managers, analysts, and industry leaders depend upon Platts to help them make better trading and investment decisions. Additional information is available at http://www.platts.com. For more information about The McGraw-Hill Companies, visit http://www.mcgraw-hill.com

SOURCE: Platts
CONTACT: Kathleen Tanzy
+1-212-904-2860
Europe:
Shiona Ramage
+44207 1766153
Asia:
Casey Yew
+65 653 06552
Web site: http://www.platts.com
http://www.mcgraw-hill.com

Mining/Minerals: Platts reporting prices of hot-rolled coil and rebar from Asia

London, (ANTARA News/PRNewswire-AsiaNet) - Platts, one of the world's foremost providers of energy and metals information, today announced it is expanding its suite of spot price assessments in global metals to include steel exported from China, specifically hot-rolled coil (HRC) and concrete reinforcing bar (rebar).

"We're pleased we can answer the steel industry's call for a reliable source of timely, transparent and independent steel price information from Asia as well as provide the financial industry with an additional price series to help anticipate economic activity and price trends," said Platts Global Director of Steel Francis Browne.

The new Asia price series expands Platts' coverage of steel and scrap product prices from 21 to 23, and better equips industry and other metals market observers with a more complete data series for more comprehensive analysis of spot metals prices globally.

The assessments are generated from the free-on-board (FOB) value of key internationally traded steel products HRC and rebar, and recognize China's important participation in the world's markets for these products. HRC is widely used for construction, appliance and automotive purposes. Rebar is used in the construction of such things as buildings, roads and bridges.

Platts Steel Markets Daily is an online and print publication containing news, market commentary and price information aimed at the steel, construction, and auto industries as well as commodities-focused money managers worldwide. The publication is one of five Platts products directed at the broader metals industry. Platts has reported on the broader supply and demand fundamentals of the metals markets for 30 years, drawing on the tradition of its parent company, The McGraw-Hill Companies, which has covered the metals market for more than 75 years.

Platts' price assessment methodology in steel was developed in consultation with a cross section of key industry players and draws upon Platts' century of experience in benchmark price reporting in the energy markets. For more information about the Platts price assessment process visit http://www.platts.com

About Platts:

Platts, a division of The McGraw-Hill Companies (NYSE: MHP), is a leading global provider of energy and commodities information. With nearly a century of business experience, Platts serves customers across more than 150 countries. From 17 offices worldwide, Platts serves the oil, natural gas, electricity, nuclear power, coal, emissions, petrochemical and metals markets. Platts' real time news, pricing, analytical services, and conferences help markets operate with transparency and efficiency. Traders, risk managers, analysts, and industry leaders depend upon Platts to help them make better trading and investment decisions.

Additional information is available at http://www.platts.com

About The McGraw-Hill Companies:

Founded in 1888, The McGraw-Hill Companies (NYSE: MHP) is a leading global information services provider meeting worldwide needs in the financial services, education and business information markets through leading brands such as Standard & Poor's, McGraw-Hill Education, BusinessWeek and J.D. Power and Associates. The Corporation has more than 280 offices in 40 countries. Sales in 2007 were $6.8 billion.

Additional information is available at http://www.mcgraw-hill.com

SOURCE: Platts
CONTACT: Kathleen Tanzy,
+1-212-904-2860,
Kathleen_tanzy@platts.com, or
Europe,
Shiona Ramage,
+44-207-176-6153, or
Asia,
Casey Yew,
+65-653-06552
Web site: http://www.platts.com
http://www.mcgraw-hill.com
(MHP)

COPYRIGHT © 2008

Metal/Mining: Platts survey: OPEC pumps 31.87 mln BPD in April

London, (ANTARA News/PRNewswire-AsiaNet) - The 13 members of the Organization of Petroleum Exporting Countries (OPEC) pumped an average 31.87 million barrels per day (b/d) of crude oil in April, a 350,000 b/d decrease from March, according to a Platts (http://www.platts.com/) survey of OPEC and oil industry officials released Friday. The sharp drop was largely the result of steep output losses in Nigeria.

Excluding Iraq, the 12 members which participate in output agreements pumped an average 29.49 million b/d, 360,000 b/d down from an estimated 29.85 million b/d in March.

"OPEC production has been relatively steady in recent months, but the sharp fall in Nigerian output shows how vulnerable overall supply from the group can be to developments in one country," said John Kingston, Platts global director of oil. "Given that spare capacity is also relatively tight, any disruption has a bigger impact on markets."

Ongoing losses in Nigerian supply as a result of continuing strife in the Niger Delta were exacerbated by a week-long pay strike at ExxonMobil, which shut down most of the company's 800,000 b/d of production and forced it to declare force majeure on exports from the 400,000 b/d Qua Iboe terminal.

Other smaller decreases came from Angola, Iran, Qatar, Saudi Arabia and Venezuela.

Iraqi volumes were a shade higher at 2.38 million b/d, with a slight dip in exports offset by slightly higher internal supply. Libyan output also edged up, to 1.75 million b/d from 1.74 million b/d in March.

The latest estimates show the OPEC-12 missing their 29.673 million b/d output target by 183,000 b/d.

For more information on OPEC, go to the "Platts Guide to OPEC" at http://www.opec.platts.com.

About Platts:

Platts, a division of The McGraw-Hill Companies (NYSE: MHP), is a leading global provider of energy and commodities information. With nearly a century of business experience, Platts serves customers across more than 150 countries. From 17 offices worldwide, Platts serves the oil, natural gas, electricity, nuclear power, coal, emissions, petrochemical, shipping and metals markets. Platts' real time news, pricing, analytical services, and conferences help markets operate with transparency and efficiency. Traders, risk managers, analysts, and industry leaders depend upon Platts to help them make better trading and investment decisions. Additional information is available at http://www.platts.com.

About The McGraw-Hill Companies:

Founded in 1888, The McGraw-Hill Companies (NYSE: MHP) is a leading global information services provider meeting worldwide needs in the financial services, education and business information markets through leading brands such as Standard & Poor's, McGraw-Hill Education, BusinessWeek and J.D. Power and Associates. The Corporation has more than 280 offices in 40 countries. Sales in 2007 were $6.8 billion. Additional information is available at http://www.mcgraw-hill.com.

SOURCE Platts
CONTACT: Kathleen Tanzy
+1-212-904-2860
Kathleen_tanzy@platts.com
Europe:
Shiona Ramage
+44207 1766153
Asia:
Casey Yew
+65 653 06552
Web site: http://www.platts.com
http://www.mcgraw-hill.com
http://www.opec.platts.com
(MHP)

COPYRIGHT © 2008

Metal/Mining: Platts survey: OPEC pumps 32.22 mln barrels of crude oil per dayn barrels of crude oil per day

London, (ANTARA News/PRNewswire-AsiaNet) - The 13 members of the Organization of the Petroleum Exporting Countries (OPEC) pumped an average 32.22 million barrels per day (b/d) of crude oil in March, a 110,000 b/d decrease from February, according to a Platts (http://www.platts.com/) survey of OPEC and oil industry officials released Tuesday.

"Though OPEC's output fell in March, much of the decline appears to be related more to maintenance work in Nigeria and Venezuela than to any shift in philosophy on the part of the group," said John Kingston, Platts global director of oil.

"Indeed, despite the drop in output, OPEC-12 pumped well over its production target, showing members are more than happy to take advantage of record high prices."

Excluding Iraq, the 12 members bound by output agreements pumped an average 29.85 million b/d in March, 80,000 b/d lower than February's 29.93 million b/d, the survey showed.

Despite the dip in output from the OPEC-12, the March total was 177,000 b/d higher than their collective 29.673 million b/d crude production target.

Decreases in Iraqi, Venezuelan and Nigerian production totaling 160,000 b/d were partly offset by 50,000 b/d of increases from Iran, Ecuador and Qatar.

OPEC ministers met in February and March and decided on both occasions that despite crude prices in excess of $100 per barrel, there was no shortage of crude oil on world markets. The next formal OPEC ministerial meeting is scheduled for early September.

The group's president, Algerian oil minister Chakib Khelil, said earlier Tuesday that although it was possible OPEC could meet on the sidelines of the upcoming International Energy Forum in Rome, the probability of a meeting was "very low."

Khelil, who reiterated the view that current prices were not being driven by any shortage of crude supply, said he believed high oil prices were "here to stay."

US Energy Secretary Samuel Bodman said Monday he remained "optimistic" that OPEC would raise production despite the organization having ignored requests from the Bush administration to boost output at its February and March meetings.

For more information on OPEC, go to the "Platts Guide to OPEC" at http://www.opec.platts.com

About Platts: Platts, a division of The McGraw-Hill Companies (NYSE: MHP), is a leading global provider of energy and commodities information. With nearly a century of business experience, Platts serves customers across more than 150 countries.

From 17 offices worldwide, Platts serves the oil, natural gas, electricity, nuclear power, coal, emissions, petrochemical, shipping and metals markets.

Platts' real time news, pricing, analytical services, and conferences help markets operate with transparency and efficiency. Traders, risk managers, analysts, and industry leaders depend upon Platts to help them make better trading and investment decisions. Additional information is available at http://www.platts.com

About The McGraw-Hill Companies: Founded in 1888, The McGraw-Hill Companies (NYSE: MHP) is a leading global information services provider meeting worldwide needs in the financial services, education and business information markets through leading brands such as Standard & Poor's, McGraw-Hill Education, BusinessWeek and J.D. Power and Associates. The Corporation has more than 280 offices in 40 countries.

Sales in 2007 were $6.8 billion. Additional information is available at http://www.mcgraw-hill.com

SOURCE: Platts
CONTACT: Europe: Shiona Ramage +44207 1766153 Asia: Casey
Yew +65 653 06552 Kathleen Tanzy +1-212-904-2860
Kathleen_tanzy@platts.com
Web site: http://www.platts.com
http://www.opec.platts.com

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Platts survey: OPEC pumps 32.33 million b/d in February

London, (ANTARA News/PRNewswire-AsiaNet) - The 13 members of the Organization of Petroleum Exporting Countries (OPEC) pumped an average 32.33 million barrels per day (b/d) of crude oil in February, an 80,000 b/d increase on January levels, according to a Platts (http://www.platts.com/) survey of OPEC and oil industry officials just released.

However, production from the 12 countries, excluding Iraq, bound by output allocations fell to 29.93 million b/d in February from 29.96 million b/d in January, the survey showed.

"It used to be that when prices would soar, OPEC discipline would gradually break down and more supply would come on the market," said John Kingston, Platts global director of oil. "When you look at numbers like this -- soaring prices accompanied by minor increases in output -- it's a sign of very strong discipline but with a significant mix of the apparent inability of many of these member countries to put more oil on the market. For most of them, they are simply tapped out."

Despite the 30,000 b/d drop, the OPEC-12 still exceeded their 29.673 million b/d collective output target by 257,000 b d.

Output increases totaling 190,000 b/d from Angola, Indonesia and Iraq were partly offset by decreases totaling 110,000 b/d from Ecuador, Iran and Saudi Arabia.

Iraq, which does not participate in OPEC output accords, boosted production to 2.4 million b/d in February from 2.29 million b/d in January, an increase of 110,000 b/d.

Meeting in Vienna on March 5, OPEC ministers decided to leave official output targets unchanged, ignoring pleas from major consuming countries for more oil and attributing record prices of more than $100/barrel to factors beyond fundamentals of supply and demand.

US light crude futures hit a new record of $111 per barrel for US light crude on March 13. On March 11, OPEC's crude basket broke above $100 per barrel for the first time.

OPEC is next scheduled to meet on September 9, but ministers have said there could be informal talks on the sidelines of the International Energy Forum next month in Rome.

For more information on OPEC, go to the "Platts Guide to OPEC" at http://www.opec.platts.com

About Platts: Platts, a division of The McGraw-Hill Companies (NYSE: MHP), is a leading global provider of energy and commodities information. With nearly a century of business experience, Platts serves customers across more than 150 countries.

From 14 offices worldwide, Platts serves the oil, natural gas, electricity, nuclear power, coal, emissions, petrochemical and metals markets. Platts' real time news, pricing, analytical services, and conferences help markets operate with transparency and efficiency. Traders, risk managers, analysts, and industry leaders depend upon Platts to help them make better trading and investment decisions. Additional information is available at http://www.platts.com

About The McGraw-Hill Companies: Founded in 1888, The McGraw-Hill Companies (NYSE: MHP) is a leading global information services provider meeting worldwide needs in the financial services, education and business information markets through leading brands such as Standard & Poor's, McGraw-Hill Education, BusinessWeek and J.D. Power and Associates. The Corporation has more than 280 offices in 40 countries.

Sales in 2007 were $6.8 billion. Additional information is available at http://www.mcgraw-hill.com

SOURCE: Platts
CONTACT: Kathleen Tanzy
212-904-2860 Kathleen_tanzy@platts.com Europe: Shiona Ramage
+44207 1766153 Asia: Casey Yew +65 653 06552
Web site: http://www.platts.com
http://www.mcgraw-hill.com
http://www.opec.platts.com

COPYRIGHT © 2008

Mining/Minerals: Options for US climate legislation outlined by House Energy Chairman

Washington (ANTARA News/PRNewswire-AsiaNet) - The chairman of the US House Energy and Air Quality Subcommittee told a Platts Energy Podium event in Washington on Tuesday that he supports a greenhouse gases (GHG) cap-and-trade system that would provide nearly all emission credits for free to electric utilities, oil refineries and other industrial operations.

Representative Rick Boucher, Democrat-Virginia, said he believes the US should model its GHG control law on the country's successful acid rain program that is designed to cut national sulfur dioxide emissions from electric utilities through a cap-and-trade system.

The SO2 system gives away 97 per cent of its allowances and auctions off the remaining 3 per cent, Boucher said. "We can look to the very successful sulfur dioxide program," he said, calling the acid rain program "fluid" and "transparent".

"I think the burden of proof rests on those who think we would need to auction most of the allowances," Boucher said.

Boucher is seeking to pass economy-wide legislation that would reduce emissions 60 per cent to 80 per cent below current levels by 2050.

He put the odds of getting the bill through Congress and passed by President George W. Bush at more than 50 per cent but estimated a better probability next year. "In the next Congress, I think the prospects of passing cap and trade and having it signed into law will be 80 per cent or better," he said.

The three presidential candidates all support mandatory emissions reductions, and Democrats, who are viewed as more supportive of climate change actions, are considered likely to gain seats in both the House and Senate, he said.

The congressman said he would prefer that any GHG cap bill offer modest cuts in carbon emissions to 2025 with steeper reductions thereafter to allow coal-fired power generation to remain in the mix and permit the development of carbon capture and sequestration technologies.

To do otherwise would mean that natural gas would become the dominant fuel for power generation, leading to higher prices for the fuel amidst increasing natural gas demand from other economic sectors, Boucher said. "We simply have to prevent that from happening," he said, adding it will result in "deep economic dislocation."

He also said he is optimistic that permanent carbon storage could work.
"This isn't rocket science at all. It isn't even auto mechanics," he said. "It will work. They've been storing CO2 in oil and gas fields for decades."

Sponsored by Platts, a division of The McGraw-Hill Companies, Platts Energy Podium provides an ongoing forum for prominent newsmakers and the press to address important energy and environmental issues.

Members of the media may receive complementary registration for Energy Podium events by contacting Nancy Covey at 202-942-8719, Nancy_Covey@platts.com. A recording of the
Boucher session is available via podcast at www.energypodium.platts.com

About Platts

Platts, a division of The McGraw-Hill Companies (NYSE: MHP), is a leading global provider of energy and commodities information. With nearly a century of business experience, Platts serves customers across more than 150 countries.

From 14 offices worldwide, Platts serves the oil, natural gas, electricity, nuclear power, coal, petrochemical, emissions, shipping and metals markets.

Platts' real time news, pricing, analytical services, and conferences help markets operate with transparency and efficiency. Traders, risk managers, analysts, and industry leaders depend upon Platts to help them make better trading and investment decisions. Additional information is available at http://www.platts.com

About The McGraw-Hill Companies

Founded in 1888, The McGraw-Hill Companies (NYSE: MHP) is a leading global information services provider meeting worldwide needs in the financial services, education and business information markets through leading brands such as Standard & Poor's, McGraw-Hill Education, BusinessWeek and J.D. Power and Associates. The Corporation has more than 280 offices in 40 countries.

Sales in 2007 were $6.8 billion. Additional information is available at http://www.mcgraw-hill.com

SOURCE: Platts
CONTACT: Kathleen Tanzy, +1-212-904-2860; Asia, Casey Yew,
+65-653-06552, Casey_yew@platts.com;
or Europe, Shiona Ramage, +44207-1766153,
Shiona_ramage@Platts.com, all for Platts
Web site: http://www.platts.com
http://www.energypodium.platts.com
http://www.mcgraw-hill.com

COPYRIGHT © 2008

Platts Survey: US reactors produce record power generation in 2007

Washington (ANTARA News/PRNewswire-AsiaNet) - Global power generated by nuclear reactors fell about 3.6% in calendar 2007 from the 2.8 billion megawatt-hours (MWh) recorded in 2006, according to data released by Nucleonics Week, a publication of Platts, a leading global provider of energy and commodities information.

In the otherwise lackluster 2007, US reactors set a record for nuclear power generation, with output surging to 843 million gross MWh and utilizing an average 91% of reactor capacity.

"The 2007 nuclear plant performance means about 20% of US electricity was once again generated without the carbon emissions that would otherwise contribute to global warming," said Margaret Ryan, Platts global nuclear editorial director.

World performance was led by two US reactors. In terms of output, South Texas Project's South Texas-1 in Bay City, Texas, generated 12.36 million MWh, the largest output of any reactor in the world. Of the 15 reactors generating the most in 2007, three were from the US, eight from Germany and four from France. In terms of capacity factor, which measures how well a plant performed against the output level its manufacturer promised, the best worldwide was Constellation Energy's Calvert Cliffs-1, south of Annapolis, Maryland, which actually exceeded its rated capacity level all year. Of the top 15 best performing reactors in 2007 measured by capacity, 11 were from the US and four were from Japan.

The slowdown in world nuclear power generation was in large part attributable to developments ranging from an earthquake in Japan to persistent aging of facilities in the UK to unplanned outages in Germany. Elsewhere, nuclear generation sustained good performance or went up or down by smaller amounts.

In terms of world nuclear power plant generating capacity, the median utilization rate was 84.2% with the top quarter of units all performing above 91.5%. This suggests many reactors performed very well during 2007. But with a total nominal operating capacity of 395 gross gigawatts, the 439 nuclear units worldwide could, if they had operated at an average 85% capacity factor, have generated some 400 million more MWh to meet growing world electricity demand than they did in 2007.
That amount would supply the entire United States, which uses more electricity than any other country in the world, for 40 average days.

Outlook
The year 2007 began inauspiciously for nuclear power, with the closure of seven units on the last day of 2006. The shutdowns of Bulgaria's Kozloduy-3 and -4, Slovakia's Bohunice-1, and the UK's Dungeness A-1 and -2 and Sizewell A-1 and -2 removed 2,540 gross MW from the electricity grid.

Only four reactor units were added to world's operating nuclear fleets in 2007: India's Nuclear Power Corporation brought the 220-MW Kaiga-3 into service, the 1,000-MW Tianwan-2 VVER was started up in China, and Romania commissioned the 706-MW Cernavoda-2 Candu unit. In the US, the Tennessee Valley Authority brought the 1,155-MW Browns Ferry-1 back into service after 22 years of shutdown. That brought the total MW added to just less than 3,100 MW.

But 2007 brought the most construction starts of nuclear power reactors in recent years, with work on five units officially launched. Construction of the 650-MW Qinshan II-4 and the 1,000-MW Hongyanhe-1 in China, the 1,000-MW Shin Kori-2 and Shin Wolsong-1 in South Korea, and the 1,650-MW Flamanville-3 in France all got under way. In 2006 there were construction starts on four units, three in 2005 and just two in 2004, according to International Atomic Energy Agency records.

About Platts:

Platts, a division of The McGraw-Hill Companies (NYSE: MHP), is a leading global provider of energy and commodities information. With nearly a century of business experience, Platts serves customers across more than 150 countries. An independent provider, Platts serves the oil, natural gas, electricity, emissions, nuclear power, coal, petrochemical, shipping, and metals markets from 14 offices worldwide. Platts' real-time news, pricing, analytical services and conferences help markets operate with transparency and efficiency. Traders, risk managers, analysts, and industry leaders depend upon Platts to help them make better trading and investment decisions. Additional information is available at http://www.platts.com.

About The McGraw-Hill Companies:

Founded in 1888, The McGraw-Hill Companies (NYSE: MHP) is a leading global information services provider meeting worldwide needs in the financial services, education and business information markets through leading brands such as Standard &
Poor's, McGraw-Hill Education, BusinessWeek and J.D. Power and Associates. The Corporation has more than 280 offices in 40 countries. Sales in 2007 were $6.8 billion. Additional information is available at http://www.mcgraw-hill.com.

SOURCE Platts

CONTACT: Kathleen Tanzy,
+1-212-904-2860, or
Europe: Shiona Ramage,
+44-207-1766153, or
Asia: Casey Yew,
+65-653-06552, all for Platts
Web site: http://www.platts.com
http://www.mcgraw-hill.com

COPYRIGHT © 2008 - ANTARANEWS

Mining/Minerals: Platts Survey: OPEC pumps 32.25 mb/d crude oil in Jan

Platts Survey: OPEC Pumps 32.25 mb/d Crude Oil in January, up 220,000 b/d

(Full text of this release can be found at http://www.asianetnews.net)

London (ANTARA News/PRNewswire-AsiaNet) - The 13 members of the Organization of Petroleum Exporting Countries (OPEC) pumped an average 32.25 million (m) barrels per day (b/d) of crude oil in January, or a 220,000 b/d increase from December's rate of 32.03 million b/d, a Platts (http://www.platts.com/) survey of OPEC and oil industry officials showed February 14.

The biggest single increase came from Saudi Arabia, which boosted volumes to 9.2 million b/d in January from 9.02 million b/d in December. The UAE boosted production to 2.59 million b/d from 2.5 million b/d in December after a field maintenance program reduced output to 2.15 million b/d in November. Other smaller increases came from Angola, Iran and Kuwait.

"OPEC ministers meeting in Vienna earlier this month opted to leave production targets unchanged, ignoring pleas from major consuming countries for more oil," said John Kingston, Platts global director of oil. "Despite this, however, January production was nearly 290,000 b/d higher than the official target. But the big part of this increase came from Saudi Arabia, which supports the view that virtually all of OPEC's spare capacity lies within one country."

Kingston says the ability to repeat these numbers in February may be tested by new politically-driven problems in Nigeria. Platts estimates that the amount of oil offline in that country has climbed a few hundred thousand barrels per day and now stands at one million b/d.

Excluding Iraq, the 12 members bound by output agreements produced an average 29.96 million b/d in January, up 230,000 b d from December's 29.73 million b/d and 287,000 b/d in excess of their 29.673 million b/d target.

Output increases totaling 340,000 b/d were partly offset by 120,000 b/d of decreases.

Nigerian production slipped after Shell was forced to declare force majeure on crude shipments from its Forcados export terminal following a pipeline attack.

Iraqi volumes were marginally lower, despite higher exports, after fires at two refineries reduced the volume of crude used domestically. Indonesian production was also slightly lower than December levels.

OPEC's 29.673 million b/d output target incorporates allocations, agreed at a December meeting in Abu Dhabi, of 1.9 million b/d for Angola, which joined the group in January 2007, and 520,000 b/d for Ecuador, which rejoined in November after leaving in the early 1990s.

At its most recent meeting, on February 1, ministers decided to leave output targets unchanged and to review the situation on March 5.

For more information on OPEC, go to the "Platts Guide to OPEC" at http://www.opec.platts.com.

About Platts:

Platts, a division of The McGraw-Hill Companies (NYSE: MHP), is a leading global provider of energy and commodities information. With nearly a century of business experience, Platts serves customers across more than 150 countries. From 14 offices worldwide, Platts serves the oil, natural gas, electricity, nuclear power, coal, emissions, petrochemical and metals markets. Platts' real time news, pricing, analytical services, and conferences help markets operate with transparency and efficiency. Traders, risk managers, analysts, and industry leaders depend upon Platts to help them make better trading and investment decisions. Additional information is available at http://www.platts.com.

About The McGraw-Hill Companies:

Founded in 1888, The McGraw-Hill Companies (NYSE: MHP) is a leading global information services provider meeting worldwide needs in the financial services, education and business information markets through leading brands such as Standard & Poor's, McGraw-Hill Education, BusinessWeek and J.D. Power and Associates. The Corporation has more than 280 offices in 40 countries. Sales in 2007 were $6.8 billion.
Additional information is available at http://www.mcgraw-hill.com.

SOURCE Platts
CONTACT: Kathleen Tanzy
+1-212-904-2860
Kathleen_tanzy@platts.com;
Europe, Shiona Ramage
+44207-1766153
Asia, Casey Yew
+65-653-06552
Web site: http://www.platts.com
http://www.opec.platts.com
http://www.mcgraw-hill.com

COPYRIGHT © 2008

Mining/Minerals: OPEC`s total crude oil output rises to 32 mln BPD in Dec: Survey

London, (ANTARA News/PRNewswire-AsiaNet) - The members of the Organization of Petroleum Exporting Countries (OPEC) produced an average 32.03 million barrels per day (b/d) of crude oil in December, according to a Platts survey of OPEC and oil industry officials January 14. This is up from November's rate of 31.65 million b/d.

Production from OPEC's ten members bound by crude output agreements averaged 27.43 million b/d in December, the survey showed. This is 460,000 b/d more than in November and 177,000 b d higher than the group's 27.253 million b/d target which came into effect at the beginning of November.

"The increase in supply is certainly welcome to this market," said John Kingston, Platts Global Director of Oil. "It appears the group's on track to meet its January target, which is nearly 29.7 million barrels per day for 11 of the members, excluding Iraq."

The bulk of the December output increase was due to higher production from the United Arab Emirates (UAE) as key maintenance programs were brought to a close. UAE production was estimated at 2.5 million b/d, 350,000 b/d higher than November's 2.15 million b/d. Smaller increases of between 10,000 b/d and 40,000 b/d came from Indonesia, Iran, Kuwait, Libya and Saudi Arabia. The OPEC 10 excludes Iraq and new members Angola and Ecuador.

Iraqi production was estimated at 2.3 million b/d, some 100,000 b/d lower than in November. (Earlier this month, Iraqi oil ministry data obtained by Platts showed total Iraqi output at 2.475 million b/d in December, despite a sharp fall in exports from November levels. But Platts' methodology for calculating output differs from that of the Iraqi government). Angolan production edged up from 1.78 million b/d to 1.8 million b/d. Ecuador, which left OPEC in the early 1990s but resumed its membership in mid-November, produced an estimated 500,000 b/d.

When OPEC met in Abu Dhabi in December it left the OPEC-10 target of 27.253 million b/d unchanged but allocated targets of 1.9 million b/d and 520,000 b/d to Angola and Ecuador from the beginning of January. OPEC's production target rose to 29.673 million b/d on January 1, 2008. Iraq does not participate in OPEC output agreements because it is in process of rebuilding its oil industry after years of United Nations sanctions followed by a US-led war.

OPEC ministers will meet in Vienna on February 1. The beginning of this year saw US light crude prices climb above $100/barrel, but several top OPEC officials have said the high prices have less to do with any shortage of crude than to do with non-fundamental factors such as geopolitics and speculative activity in futures markets.

For more information on OPEC, go to the "Platts Guide to OPEC" at www.opec.platts.com

About Platts:

Platts, a division of The McGraw-Hill Companies (NYSE: MHP), is a leading global provider of energy and commodities information. With nearly a century of business experience, Platts serves customers across more than 150 countries. From 14 offices worldwide, Platts serves the oil, natural gas, electricity, emissions, nuclear power, coal, petrochemical and metals markets. Platts' real time news, pricing, analytical services, and conferences help markets operate with transparency and efficiency. Traders, risk managers, analysts, and industry leaders depend upon Platts to help them make better trading and investment decisions. Additional information is available at http://www.platts.com

About The McGraw-Hill Companies:

Founded in 1888, The McGraw-Hill Companies (NYSE: MHP) is a leading global information services provider meeting worldwide needs in the financial services, education and business information markets through leading brands such as Standard & Poor's, McGraw-Hill Education, BusinessWeek and J.D. Power and Associates. The Corporation has more than 280 offices in 40 countries. Sales in 2006 were $6.3 billion. Additional information is available at http://www.mcgraw-hill.com

SOURCE: Platts
CONTACT: Kathleen Tanzy
+1-212-904-2860
Kathleen_tanzy@platts.com or

Europe:
Shiona Ramage
+44207-1766153 or

Asia:
Casey Yew
+65-653-06552
Web site: http://www.platts.com
http://www.opec.platts.com
http://www.mcgraw-hill.com
(MHP)

COPYRIGHT © 2008