Falklands : Hydrocarbons Daily Record (18/09/06)
Submitted by Falkland Islands News Network (Juanita Brock) 18.09.2006 (Article Archived on 02.10.2006)
When Iran's President comes to New York he will be secure but unwelcome in some venues.
HYDROCARBONS DAILY RECORD: MONDAY, 18 SEPTEMBER 2006
By J. Brock (FINN)
At 1800 LMT on Monday, 18 September 2006 Light Sweet Crude gained $1.07 Cents to stand at $64.40 and Brent Crude gained $1.12 Cents to stand at $64.45.
TRENDS
The pressure is on for those responsible for buying reserves of crude in the United states to do so before the price of crude rises too much. It is possible that crude could rise a few dollars more before levelling off.
THE MARKETS
FTSE
At the close of play today, the FTSE 100 was up 13.19 points to settle 5,890.20 and the FTSE 250 added 13.90 points to end at 9,799.50. FTSE Small Cap closed down 1.25 points to settle at 3,477.80.
DOW JONES AND NASDAQ
The US markets are waiting to see if the Federal Reserve will raise interests rates on Tuesday.
At the end of play today the Dow Jones Index lost 5.77 points or 0.05% to settle at 11,555.00 and the NASDAQ closed up 0.16 or 0.01% to settle at 2,235.75.
DEVELOPMENTS:
(United States)
Even though the price of crude is falling several cities have switched to alternative fuel for their vehicles. Individual citizens have also taken the plunge. The popular alternative seems to be LPG or Hydrogen fuelled vehicles.
(France)
Saying, "I don't believe in a solution without dialogue,” French President Jacques Chirac on Monday called on Iran to give up all activities related to uranium enrichment, and urged world powers not to refer Iran to the UN Security Council. “We can find solutions via dialogue," Chirac has told several news agencies. He has departed for New York where he will address the UN General Assembly.
(Iran)
It is not known whether Chirac would meet Iranian President Mahmoud Ahmadinejad during his stay in New York. However, even though the Iranian President will have security, he may not be welcome at the UN, as he has called for the eradication of Israel and has claimed that the holocaust never happened. Even though Iran has vast hydrocarbons reserves it insists on enriching nuclear fuel for energy generation.
DEVELOPING REGIONAL FACTORS
(Bolivia)
At The Non-Aligned Nations (NAM) Conference in Havana, Cuba over the weekend, Bolivia's President Evo Morales has said that he values the movement's majority support to the socio-political changes in his country, but warned that there are countries who are want to see the protest movement in his country increase in popularity. However, Mr Morales said that indigenous peoples wish democratic and peaceful changes. He believes that there are countries that won’t join the process Bolivia has chosen but he hopes this won’t result in armed conflict, adding that if other countries respect human rights, sovereignty and self-determination, they would understand that peoples' decision should be respected. President Morales hopes to receive UN support and says that that the Non-Aligned Movement will grow stronger, so it can be a real political power in the world. He added that he wanted the Havana NAM summit to explain that the nationalisation of hydrocarbons and other natural resources was an internal decision in his sovereign country.
(Venezuela)
Venezuelan President Hugo Chavez has risked losing support for a U.N. Security Council seat for his defence of Iranian nuclear programs during a visit by the Islamic republic's president last weekend. President Chavez’s trips abroad, as well as speeches championing poor nations and generous bilateral oil deals was in hope of winning a vote next month for a rotating seat on the UN Security Council
(Falkland Islands)
Share prices at the close of play on Monday, 18 September 2006
Desire Petroleum Plc was up 0.25 point or 0.70% on the day to settle at 35.75.
Falkland Oil and Gas Limited (FOGL) down 1.00 point or 0.93% on the day to stand at 107.00.
Rockhopper Exploration unchanged on the day to settle at 39.50.
Borders & Southern ended up 0.25 or 0.55% on the day to stand at 45.50
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