Falklands : Hydrocarbons Daily Record (23/11/06)
Submitted by Falkland Islands News Network (Juanita Brock) 24.11.2006 (Article Archived on 08.12.2006)
A good supply of hydrocarbons products in the United States caused a drop in crude prices today.
HYDROCARBONS DAILY RECORD: THURSDAY, 23 NOVEMBER 2006
By J. Brock (FINN)
At 1800 LMT on Thursday, 23 November 2006 Light Sweet Crude lost 58 Cents on the New York Mercantile Exchange to stand at $58.66 and Brent Crude lost 58 Cents to stand at $58.97 on London’s ICE Futures Exchange.
TRENDS
Good inventory figures were the main factor in the lower price for crude today.
THE MARKETS
FTSE
At the close of play today, the FTSE 100 was down 20.28 points to settle at 6,140.00 and the FTSE 250 lost 22.53 points to end at 10,665.20. FTSE Small Cap lost 3.41 points to settle at 3,733.70.
DOW JONES AND NASDAQ
Trade was suspended today because of the Thanksgiving holiday. The figures will remain the same until tomorrow. There will be a short session on Friday.
The Dow Jones Index gained 5.36 points or 0.04% to settle at 12,326.95 and the NASDAQ gained 11.14 points or 0.45% to settle at 2.465.98. The S&P 500 gained 3.28 points or 0.23% to settle at 1,406.09 and the NYSE gained 30.86 points or 0.35% to settle at 8,948.94.
DEVELOPING FACTORS
Twelve deep-water oil and gas blocks now will be awarded to state-owned ONGC - the highest bidder. DGH recommended that ONGC not be awarded these blocks due to a poor past record. DGH said the government could negotiate and award these blocks to global oil and gas companies participating in NELP-VI.
DEVELOPING REGIONAL FACTORS
(Bolivia and Brazil)
The price of Bolivia’s natural gas is being negotiated in Santa Cruz. Yacimientos Petroliferos Fiscales Bolivianos (YPFB), and Brazilian Petrobras, both State run companies, are taking part in the talks. YPFB President Juan Carlos Ortiz and Brazilian officials will assess the proposal to raise tariffs of the gas it pumps to Petrobras. The current charge is $4 per million British thermal units. Both State run energy companies began negotiations in June.
(Falkland Islands)
Share prices at the close of play on Thursday, 23 November 2006
Desire Petroleum Plc ended unchanged on the day to settle at 35.00.
Falkland Oil and Gas Limited (FOGL) ended down 0.50 or 0.61% on the day to stand at 81.00.
Rockhopper Exploration ended unchanged on the day to settle at 40.00.
Borders & Southern ended unchanged on the day to stand at 37.50
Tullow Oil ended up 2.50 points or 0.62% on the day to stand at 404.50
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