Falklands : Hydrocarbons Daily Record (19/05/06)
Submitted by Falkland Islands News Network (Juanita Brock) 19.05.2006 (Article Archived on 03.06.2006)
There is an air of optimism in the Falklands about their future with the hydrocarbons industry.
HYDROCARBONS DAILY RECORD: FRIDAY, 19 MAY 2006
By J. Brock (FINN)
At 1800 LMT on Friday, 19 May 2006 Light Sweet Crude was $68.53 per barrel and Brent Crude at $68.68 per barrel.
TRENDS:
Lowering numbers in the stock markets continues to have a corresponding affect in the crude price per barrel. Nervousness bout US interest rates has been less today.
UK/US MARKET REPORT 19.5.06:
LONDON stocks marked the end of a volatile week with a period of relative calm, the FTSE 100 index slipping 14.2 points to 5657.4.
The Dow Jones index has risen to 11,144.06 – up 1% and the NASDAQ has risen by .6% to 2,193.88. It is expected that this small rise in the numbers could affect stock markets elsewhere.
DEVELOPING FACTORS:
(United States)
President Bush has, at Northern Kentucky University, given a speech about seeking alternative energy sources and weaning the United States off dependency on oil. The speech was well received and may have had an affect on the price per barrel of Light Sweet Crude.
(Iran)
President Ahmadinejad has received a veiled geological lesson about fault lines under his proposed nuclear fuel enrichment site. It’s the case of the pot calling the kettle black with nuclear reactors being near fault lined in the US in California and in Japan.
(Latin America)
CNPE, Brazil's National Energy Planning Council, announced measures to guarantee that there is enough natural gas to meet growing demand after the nationalization of the natural gas fields in Bolivia made an increase in gas imports unlikely in the medium term.
(Falkland Islands)
Desire still hasn’t announced whether it is talking to oil companies about acquiring a rig. There is speculation but it is hoped that one of the Directors will shed light on the speculation when he returns to the Falklands over the weekend.
People in the Falklands remain optimistic about their future with hydrocarbons.
Falklands Oil Stocks End of Day Price for the 19.05.06
Desire Petroleum up 1.5p or 4% to end the day at 38.75p
Falklands Oil and Gas down 2.5p or 1.9% to end the day at £1.32.50p
Rockhopper Exploration shares remained unchanged on the day 29.50p
Border and Southern shares remained unchanged on the day 47.75p
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