Falklands : Hydrocarbons Daily Record (09/08/06)
Submitted by Falkland Islands News Network (Juanita Brock) 09.08.2006 (Article Archived on 23.08.2006)
Argentina and Venezuela's "South Bonds" will be issued in Late August or early September.
HYDROCARBONS DAILY RECORD: WEDNESDAY, 09 AUGUST 2006
By J. Brock (FINN)
At 1800 LMT on Wednesday, 09 August 2006 Light Sweet Crude was up .04 Cents and settled at $76.35 on the New York Mercantile Exchange and Brent Crude lost .27 Cents to settle at $77.28 per barrel on London’s ICE Futures Exchange.
TRENDS:
The market is feeling general malaise over several negative factors affecting the price of crude. Foremost is the conflict in the Mid-East that isn’t going away soon. The closing of the Prudhoe Bay oilfields in Alaska as well as the tight US gasoline supply are also factors. Balancing this out are those seeking alternative methods of generating energy and different fuels for transport. Each day news reports claim small to medium sized municipalities are switching to LPG and Hydrogen for their vehicles as well as seeking solar and/or wind power for home heating and hot water.
THE MARKETS
FTSE:
At the close of play, the FTSE100 was 42.41 points higher at 5,860.50 with the FTSE250 up 29.54 points at 9,329.10 and the FTSE Small caps up 13.48 points settling at 3,359.00.
DOW JONES AND NASDAQ:
A stock options scandal and worries over inflation have sent Wall Street shares lower today.
The Dow Jones Index decreased 97.41 points and settled at 11,076.18 and the NASDAQ dropped 0.57 points and settled at 2,060.28.
DEVELOPING FACTORS:
(Iraq)
On Monday Iraq's Kurdish autonomous region published a draft version of a law giving itself the right to control petroleum operations in its own territory as well as the disputed province of Kirkuk. In a memorandum attached to the draft, the Kurdish regional government said a final version would be presented to the Kurdish parliament in September. It has also prepared the draft of a petroleum law for the entire country.
SOUTH AMERICA:
(Argentina and Venezuela)
South Bonds, worked on between Argentina and Venezuela since the 05 July 2006 agreement of their formulation, are to be issued in late August or early September, according to an announcement by Rodrigo Cabezas, head of the AN Finance Committee. One of the items the bonds will help to finance is hydrocarbons exploration and exploitation in Argentina, assessment and quantification of tar sands in the Orinoco Basin and industrialization of natural gas.
(Falkland Islands)
Falklands Oil Stocks End of Day Price for the 09.08.06
Desire Petroleum down 0.50 points or 1.30% on the day to stand at 38.00p
Falklands Oil and Gas was down 0.50 points or 0.44% on the day to stand at .112.00p
Rockhopper Exploration was unchanged on the day to stand at 37.50p
Border and Southern was unchanged on the day to stand at 46.00p
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