Dow future up 205 last time i check Natural gas 4.24 on NYMEX we should start the week positively.

OSLO -(Dow Jones)- Norway's Agrarian Party, or Senterpartiet, has called for a reduction in the speed of Norwegian oil extraction and for exploration to remain banned in the controversial areas offshore Lofoten and Vesteraalen, Norwegian national broadcaster NRK reported Monday.

Senterpartiet financial policy spokesman Per Olaf Lundteigen said: "Instead of focusing on further exploration, we ought to focus more on processing what we already extract in order to create more jobs in the years ahead," NRK reported.

As lower oil prices bite into company economics, putting some new oil and gas projects on hold in Norway, there is likely to be increased focus on enhanced oil recovery from existing fields.

Norwegian oil output is already on the wane, but that reduction has been more than offset by rising gas production in recent years.

Broadcaster Web site: http://www.nrk.no

-By Elizabeth Cowley, Dow Jones Newswires; +47 22 20 10 58; elizabeth.cowley@dowjones.com

Extra info on fin. crisis dev elsewhere

ECB: EUR63.915 Billion Parked In Deposit Facility As Of Sun

FRANKFURT -(Dow Jones)- One or more banks parked EUR63.915 billion in the European Central Bank's deposit facility overnight starting Sunday, data from the ECB showed Monday.

That's below amounts of EUR200 billion or more that banks had been placing with the ECB early this year.

The ECB pays an interest rate of 0.50% on the funds, which is below the current interbank market rate of 0.80%.

The use of the overnight facility shows that banks still prefer to place funds with the ECB directly, rather than lend to peers.

The ECB also said a total of EUR1.193 billion was borrowed from the marginal lending facility overnight starting Sunday. Banks pay a penalty rate of 2.50% to borrow funds from the ECB, well above the 0.80% market rate.

The ECB didn't disclose the names of the borrowers, or lenders.

-By Nina Koeppen, Dow Jones Newswires; +49 (0)69 2972 5509; nina.koeppen@dowjones.com

PBOC Vice Gov: Pace, Scale Of Capital Inflows Have Fallen

BEIJING -(Dow Jones)- People's Bank of China Vice Gov. Hu Xiaolian said Monday there haven't been large capital outflows from China, but the pace and scale of capital inflows have fallen.

Hu said she expects China's balance of payments situation to remain stable.

China's trade surplus fell sharply to $4.84 billion in February, from $39.1 billion in January. It was the country's smallest trade surplus since February 2006.

-by China Bureau, Jones Newswires; (8610) 6588-5848; jr.wu@dowjones.com

Australia Swan: Global Crisis Now Evident In Growth Figures

CANBERRA -(Dow Jones)- Australian Treasurer Wayne Swan said Monday that the global recession has already had a "big impact" on Australia, with the economic crisis now evident in local growth figures.

"Demand for our exports is falling, as are global commodity prices. The downturn has already wiped one-quarter from expected export earnings this year alone, with the possibility of further losses to come," Swan said in a speech to a Sydney business group.

The treasurer reiterated that it will be "virtually impossible" for Australia to avoid an economic contraction in the period ahead, with the global recession "even more severe" than published in the latest official forecasts.

Although still avoiding the word "recession" in reference to the Australian economy, the center-left Labor government has ramped up its negative rhetoric on the economy in recent days, in a sign that its May 12 budget may include substantial downgrades to official growth forecasts.

In the latest forecasts, published only last month, Australia's Treasury said it expects the economy to expand by 1% in the year ending June 30, 2009, and 0.75% in fiscal 2009-10.

But many economists think first quarter gross domestic product data, due mid-year, will confirm that Australia is in a technical recession - defined as two consecutive quarters of economic contraction - after GDP contracted 0.5% in the fourth quarter of last year.

The local job market is looking increasingly fragile, with job advertising in free-fall, business confidence at record lows and profits down as the global economic slowdown puts the economy into reverse.

Australia's unemployment rate pushed out to 5.2% in February from 4.8% in January, its biggest one-month rise in over a decade.

"The real effects of the global crisis, now so evident in our growth figures, took a little longer to arrive in Australia," Swan said.

However, he reiterated that Australia is "still faring better than almost all other developed nations".

"Growth over 2008 was stronger than any of the Group of Seven economies and our unemployment rate is lower than all but one," Swan said.

"Our banking system is amongst the most stable of all advanced economies, at a time when banks internationally have been in serious strife. And our budget position is much stronger than all other advanced economies."

As expected by market commentators, Swan said infrastructure projects will be a key priority in the upcoming budget. In December, the government announced it would fast-track A$4.7 billion in infrastructure projects, and according to Swan there is "much more to come".

However, he conceded that finding funding for additional projects will be difficult given the sharp decline in tax revenues.

"Our challenge will be to continue to stimulate the economy and continue to invest in the future, while working under the constraints imposed by collapsing revenue and the global recession," Swan said.

-By Rachel Pannett, Dow Jones Newswires; 61-2-6208-0901; rachel.pannett@dowjones.com

Sounds like Canada rethoric