20121127 1111 Global Markets & Energy Related News.

GLOBAL MARKETS-Asian shares, euro rise on Greek debt deal
NEW YORK, Nov 26 (Reuters) - The euro hit a one-month high and Asian shares climbed for a seventh straight day after a deal on new debt targets for Greece and a political agreement on disbursing the next installment of aid.
"Although somewhat anticipated by the market, the successful agreement over Greece's emergency aid is expected to be an upside influence," Um Tae-woong, an analyst at Bookook Securities, said of Seoul shares.

FOREX-Euro firm after Greek deal, yen edges up
SYDNEY, Nov 27 (Reuters) - The euro was caught in choppy trade after euro zone and International Monetary Fund officials clinched agreement on a new debt target for Greece in a significant step towards releasing a much-needed aid package for Athens.
"It was not a huge reaction because (the deal) was already priced in," said Joseph Capurso, a strategist at Commonwealth Bank of Australia.

OIL - Oil falls on concerns about Greece debt, U.S. budget
NEW YORK, Nov 26 (Reuters) - Oil prices fell on Monday as concerns about Greek debt talks and U.S. budget negotiations outweighed worries about potential Middle East supply disruptions.
"Crude is feeling some pressure from the concerns about Greece and Spain, and the nagging worries about the fiscal cliff, with the stock market lower and the dollar index strengthening adding some pressure," said Phil Flynn, an analyst at Price Futures Group in Chicago.

Euro zone, IMF reach deal on cutting long-term Greek debt
BRUSSELS, Nov 26 (Reuters) - Euro zone finance ministers and the International Monetary Fund clinched agreement on a new debt target for Greece on Monday in a breakthrough towards releasing an urgently needed tranche of loans to the near-bankrupt economy, officials said.
After nearly 10 hours of talks at their third meeting on the issue in as many weeks, Greece's international lenders agreed to reduce Greek debt by 40 billion euros, cutting it to 124 percent of gross domestic product by 2020, via a package of steps.

High demand means world needs all of Canada's oil -IEA
Nov 26 (Reuters) - Global demand for crude is growing so strongly that the world needs "every single drop of Canadian oil," the International Energy Agency's chief economist said on Monday, playing down fears that growing U.S. production could hit Canadian exports.
Fatih Birol said that even if U.S. output rises as much as the agency expects, the country would still need to import four million barrels a day and that Canada is an obvious supplier.

POLL-US crude stockpiles seen rising on higher imports
Nov 26 (Reuters) - U.S. crude oil and gasoline inventories were forecast to have risen last week due to higher imports, a preliminary Reuters poll of four analysts showed on Monday.
Crude inventories were seen up 1.3 million barrels for the week that ended Nov. 23, with three out of four analysts predicting a build. Total U.S. crude oil inventories fell 1.47 million barrels in the week to Nov. 16 to 374.47 million barrels, data from the U.S. EIA showed. Crude supplies are expected to show a small build mainly as a result of an expected rebound in imports from the low levels reported in the previous, said Jim Ritterbusch, president of Ritterbusch & Associates in Galena, Illinois.  U.S. crude imports fell 102,000 barrels per day to 7.73 million bpd in the week to Nov. 16, EIA data showed.

Iran may slash oil sales outlook, store more as sanctions bite
Nov 26 (Reuters) - Iran's state budget for the next fiscal year may assume exports of just 1 million barrels of oil a day, an Iranian budget planning commission member told the semi-official Fars news agency on Monday, about half volumes shipped in 2011.
"Apparently, the government wants to decrease the 1392 (the next Iranian year starting on March 21) state budget's reliance on oil exports to one million barrels a day," parliamentarian Gholamreza Mesbahi Moqaddam was quoted as saying by Fars.

Nigerian oil export delays worsen, exports fall
GENEVA, Nov 26 (Reuters) - Nigerian oil exports are set to fall to below 2 million barrels per day (bpd) in January and delays on a key grade doubled to nearly a month, indicating that supply problems in the leading African producer are far from over.
Nigeria is among the world's top 10 crude oil exporters and usually ships over 2 million bpd, but a major fire caused by oil theft, an Exxon spill and flooding have severely hit output.

Enbridge to ship Bakken crude to Philadelphia via rail
Nov 26 (Reuters) - Enbridge Inc , Canada's No. 2 pipeline company, plans to develop rail facilities to deliver 80,000 barrels per day of light oil from North Dakota's prolific Bakken shale oil field to refineries around Philadelphia.
The company said on Monday it will have a 75 percent stake in Eddystone Rail Co, a $68 million project to upgrade existing tracks to accommodate 120-car trains. Enbridge will also lease a power generation facility, refurbish a 200,000-barrel tank and work on Philadelphia-area pipelines to deliver crude. Privately owned Canopy Prospecting Inc will own the remaining 25 percent.

Petrobras output falls again in Oct, CEO sees upturn
Nov 26 (Reuters) - Brazilian state-led oil company Petrobras  said Monday that year-on-year output of petroleum and natural gas had fallen for a fifth straight month in October as maintenance in the offshore Campos Basin slowed ambitious expansion plans.
During the month, Petrobras produced an average 2.58 million barrels of oil and natural gas equivalent a day (boepd) in Brazil and abroad, 1.3 percent less than 2.62 million boepd in October 2011, the Rio de Janeiro-based company said in a statement.

South Sudan says Sudan poses new obstacle to oil sales
Nov 26 (Reuters) - Sudan has put a new obstacle in the way of allowing its land-locked southern neighbour to pipe its oil to the Red Sea, South Sudanese President Salva Kiir said on Monday, dashing plans to revive production after an 11-month break.
Sudan's currency fell to a historic low against the dollar on the black market on Monday, highlighting the importance for both countries to get oil from South Sudan's oilfields via the north for export.