Falklands : Hydrocarbons Daily Record (12 November 2007)
Submitted by Falkland Islands News Network (Juanita Brock) 13.11.2007 (Article Archived on 27.11.2007)
OPEC's Arabian Minister has hinted that a decision to increase production could take place at the next meeting and this helped to decrease crude prices today.
HYDROCARBONS DAILY RECORD (12 NOVEMBER 2007)
By J. Brock (FINN)
TODAY’S TOP STORY:
The Company was notified on 9 November 2007 that MF Global UK Limited no longer has a notifiable interest in the ordinary shares of the Company. This information is provided by RNS The company news service from the London Stock Exchange
CRUDE PRICES Monday, 12 November 2007:
Light Sweet Crude traded at $94.62 down $1.70 on the New York Mercantile Exchange. Brent Crude was trading at $91.98 down $1.20 on London’s ICE Futures Market.
ANALYSIS Monday, 12 November 2007:
OPEC’s Arabian Oil Minister has said that the organisation could take a decision to increase production at their next meeting helped to decrease the price of crude today.
SHARE PRICES: MONDAY, 12 NOVEMBER 2007
TLW: 627.00 down 19.50 DES: 24.50 down 1.25, FOGL: 149.50 down 2.00, RKH: 48.50 down 2.00, BOR: 35.00 down 0.50, PRE: 15.00 down 0.25, GBP: 10.25 unchanged, GPK: 425.00 unchanged, BLT 1607.00 down 21.00 RDSA: 1977.00 down 15.00 (Trading in Euros), RDSB: 1958.00 down 24.00, RDSD: 39.21 unchanged
New York Stock Exchange:
XOM: 84.54 down 2.31
THE MARKETS ON MONDAY, 12 November 2007:
FTSE100: 6,337.90 down 33.02, FTSE 250: 10,894.30 up 35.24, SmallCap: 3,652.70 down 10.34
DJI: 12.987.55 down 55.19, NASDAQ: 2,584.13 down 43.81, S&P500: 1,439.18 down 14.52
INTERNATIONAL DEVELOPMENTS:
(Syria)
From a press Release:
Syria’s government has signed a joint venture agreement with Iran, Venezuela and a Malaysian consortium to build a 140,000-barrel per day refinery in central Syria in an area known as Al-Furoqlus. The project is worth USD 2.6 billion. PDVSA of Venezuela will own 33 percent of the shares of the company; National Iranian Oil Refining and Distribution Company (NIORDC) and the Bukhari Group of Malaysia will own 26 percent each. The balance 15 percent will be owned by the Syrian Ministry of Oil. The refinery should be ready for production in 2011, when it will process around 140 000 barrels of oil a day.
(100X Translation Service)
REGIONAL DEVELOPMENTS:
(Venezuela)
From a Press Release:
PDVSA, Venezuela’s State owned energy company, has announced that it will invest a total of $10 billion this year in oil operations. Oil Minister Rafael Ramirez has said that this year's investment is geared toward keeping production volume stable. Venezuela produces 3.2 million barrels of crude a day and is aiming for a 3.64 million-barrel-a-day target for next year.
(100X Translation Service)
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