Falklands : Hydrocarbons Daily Record (14/05/07)
Submitted by Falkland Islands News Network (Juanita Brock) 15.05.2007 (Article Archived on 29.05.2007)
The sell off of gasoline futures and refinery output concerns has caused the price of crude to increase today. Contributing to stability is Chevron’s opening of refineries in Nigeria.
HYDROCARBONS DAILY RECORD: MONDAY, 14 MAY 2007
By J. Brock (FINN)
At 1800hrs LMT on Monday, 14 May 2007 Light Sweet Crude was trading at $62.46 up 09 Cents on the New York Mercantile Exchange and Brent Crude was trading at $66.74 down 09 Cents on London’s Ice Futures Market.
ANALYSIS:
The sell off of gasoline futures and refinery output concerns has caused the price of crude to increase today. Contributing to stability is Chevron’s opening of refineries in Nigeria.
THE MARKETS
FTSE 100: 6,555.50 down 10.17
FTSE 250: 12,037.600 up 3.78
SmallCap: 4,116.50 up 1.02
DJI: 13,346.78 up 20.56
NASDAQ: 2,546.44 down 15.78
S&P 500: 1,503.15 down 2.70
REGIONAL DEVELOPMENTS:
(Bolivia)
The Latin American Press are reporting that Bolivia's Energy Minister Carlos Villegas has announced that the Government of Bolivia expects $3 billion in foreign investment in its oil and gas industry over the next three years. Reports continue that Bolivia also wants potential petrochemical development, Bolivia’s State energy company YPF Bolivianos (YPFB) plans to spend $10 million in upgrades at two crude oil refineries.
(Repsol/YPF)
Repsol YPF has announced its net income of 888 million EUR for the first quarter of 2007. This is 3 % higher than the first quarter in 2006, regardless o fa drop in international crude oil prices.
RELEVANT SHARE PRICES:
TLW: 355.00 up 2.50
DES: 25.75 unchanged
FOGL: 85.50 down 2.00
RKH: 39.50 up 1.00
BOR: 23.75 unchanged
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