Falklands : Hydrocarbons Daily Record (08/02/07)
Submitted by Falkland Islands News Network (Juanita Brock) 09.02.2007 (Article Archived on 23.02.2007)
The lengthy cold snap as well as rebel activities in the Niger Delta and nervousness about talks in Mecca helped crude prices to increase today.
HYDROCARBONS DAILY RECORD: THURSDAY, 08 FEBRUARY 2007
By J. Brock (FINN)
At 1800 LMT on Thursday, 08 February 2007 Light Sweet Crude gained$2.00 Cents to settle at $59.71 on the New York Mercantile Exchange and Brent Crude added $1.83 Cents to settle at $59.06 on London’s ICE Futures Market.
TRENDS:
The lengthy cold snap in the US as well as continuing rebel activities in the Niger Delta and nervousness about talks in Mecca helped to increase the price of crude today.
THE MARKETS:
FTSE 100 closed at 6,346.40 down -23.07
FTSE 250 closed at 11,441.90 down -60.08
FTSE Small Cap closed at 4,032.00 up +1.28
DJI closed at 12,637.631 down -29.24
NASDAQ closed at 2,488.67 down -1.83
S&P500 closed at 1,448.31 down -1.71
INTERNATIONAL DEVELOPMENTS:
(From a Press Release)
BIL - BHP Billiton Plc - Results for the half year ended 31 December 2006
BHP BILLITON RESULTS FOR THE HALF YEAR ENDED 31 DECEMBER 2006
* Records for all key earnings measures including Underlying EBITDA up 32% to US$10.5 billion and Underlying EBIT up 37% to US$9.1 billion.
* Attributable profit up 41% to US$6.2 billion and EPS up 44%, benefiting from ongoing buy-backs.
* Underlying EBIT margin(1) and Return on Capital Employed increased to 47% and 37% respectively.
* Half year production records for aluminium, alumina, copper cathode, iron ore, manganese ore and molybdenum from continuing operations.
* While costs remain a challenge, the rate of increase has continued to slow.
* Current project pipeline includes 29 projects in execution or feasibility comprising US$17.5 billion of investment.
* Interim dividend of 20.0 US cents per share, an increase of 14% on last year's interim dividend and the tenth consecutive dividend increase.
* Capital return increased by US$10.0 billion representing 9.1%(2) of capital. This is in addition to the US$1.3 billion remaining from the program announced in August 2006.
- An outstanding half year result, underpinned by robust demand, solid production and a focus on business excellence.
Contact: BHP Bilton Plc
Neathouse
Victoria
London SW1 VIVH
REGIONAL DEVELOPMENTS:
(Brazil)
Petrobras is expanding its drilling aspirations in provinces like Venezuela, Turkey, Iran, Angola, as well as the US Gulf of Mexico.
Petrobras hopes to balance its assets out into some world regions where oil is more abundant than in Brazil. BP data indicates that South and Central America hold 8.6% of world liquids reserves, the Mid-east holds 61.9%, Europe/Eurasia 11.7% and Africa 9.5% Partnerships with Petrobras have been in high demand for joint-ventures in deepwater projects throughout the world, and this is an indicator of Petrobras’s drilling expertise perfected at the Campos basin.
(Tristan da Cunha)
On the 3rd February, the Fishery Patrol Boat Wave Dancer and the Police Rib Atlantic Dawn with a team of observers and the island Administrator went to Tripot Bay to watch the 1st attempt to refloat the oil rig.
Over the past few weeks the salvage team had been busy cutting and removing as much material from the rig as possible to try and make her lighter for the tow, approximately 600mt had been removed and dumped in deep water.
It was an excellent day, and although the rig had good buoyancy on the port side, the tides were not sufficient to lift the starboard side, which had become damage during the early part of the attempt.
It is the intention, if all goes to plan, to try the main re-float in the next week or two. In the meantime the salvage team will be putting more air bags in the columns to achieve as much buoyancy as possible.
(Falkland Islands)
Relevant Share Prices for Thursday, 08 February 2007:
Tullow Oil down -5.25 to stand at 406.00
Desire Petroleum down -0.25 at 31.75
FOGL down -2.00 to stand at 92.00
Rockhopper Exploration up +1.00 to stand at 45.00
Borders & Southern unchanged at 30.00
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