Falklands : Hydrocarbons Daily Record Sunday, 23 March 2008
Submitted by Falkland Islands News Network (Juanita Brock) 24.03.2008 (Article Archived on 07.04.2008)
Crude prices are rising again on fears that OPEC is to cut production, the weakening US Dollar and an incident at a refinery.
HYDROCARBONS DAILY RECORD SUNDAY, 23 MARCH 2008
By J. Brock (FINN)
At 1900hrs LMT on Friday, 21 March 2008 Light Sweet Crude was trading at $100.78 down $1.76 on the New York Mercantile Exchange. Brent Crude was trading at $99.92 down 80 Cents on London’s ICE Futures Market.
ANALYSIS:
Crude prices are rising again on fears that OPEC is to cut production, the weakening US Dollar and an incident at a refinery. Crude prices won’t be declining until we, the consumer, do something about them by seeking alternatives to hydrocarbons products for our heating and transport. One can’t blame OPEC for not pumping more crude with declining demand due to high prices. People are cutting journeys and seeking more public transport with municipalities using alternative fuels for their vehicles. Categorised as very unhelpful are remarks by so called experts that demand is going up. Practical people will be seeing how to decrease their energy usage in the face of price rises.
Related Articles
The president of Opec has predicted that the price of oil could stay as high as $110 a barrel for the rest of the year, spurred by investors seeking to hedge themselves against the weakening US dollar
http://business.timesonline.co.uk/tol/business/industry_sectors/natural_resources/article3607764.ece
Oil, heating oil and gasoline prices spiked Tuesday as investors eyed the possibility that OPEC may cut production just ahead of the second quarter, when gasoline demand in the Northern Hemisphere usually becomes the central focus of the market.
An explosion at a 70,000-barrel-a-day refinery in Texas may have also boosted prices, but the primary worry is that the Organization of Petroleum Exporting Countries may reduce output next month to support prices in a US$85-US$100 a barrel range, said Tetsu Emori, commodity markets fund manager at ASTMAX Futures Co. in Tokyo.
http://money.aol.ca/article/oil-prices-reuse-story-id/172611/
SHARE PRICES AND THE MARKETS:
SHARE PRICES ON THE ALTERNATIVE INVESTMENT MARKET: Friday, 21 March 2008.
TLW: 617.50 down 41.00, DES: 71.25 up 1.25, FOGL: 120.00 down 3.00 RKH: 74.50 down 3.00, BOR: 58.00 up 1.50 PRE: 12.00 unchanged, GBP: 7.13 down 0.25 GPK: 388.00 down 1.50, BLT 1361.00 down 80.00 RDSA: 1636.00 down 63.00 RDSB: 1598.00 down 59.00
New York Stock Exchange:
XOM: 85.00 up 0.57 (USD)
THE MARKETS (21/03/08)
FTSE100: 5,495.20 down 50.43, FTSE250: 9,448.40 down 102.75 SmallCap: 2,978.30 down 38.89
DJI: 12,361.32 up 261.66 NASDAQ: 2,258.11 up 48.15 S&P500: 1,329.51 up 31.09
INTERNATIONAL DEVELOPMENTS
(Gulf of Oman)
Gulf countries are expected to pump about $500 billion (Dh1.8 trillion) into the hydrocarbon sector in the next five years to expand crude capacity and set up new oil and gas related industries, said a regional report.
http://www.business24-7.ae/cs/article_show_mainh1_story.aspx?HeadlineID=4271
(United States)
Arctic Oil & Gas Corp. (PINKSHEETS: AOAG), a petroleum exploration company, announced its commitment to have EM and seismic studies performed to better locate hydrocarbon structures in sections of the "Arctic Commons." The Company has begun to interview European, U.S. and Canadian EM seismic specialty firms to determine who can best perform the task at the most reasonable cost for this expensive but necessary procedure.
http://www.pr-usa.net/index.php?option=com_content&task=view&id=87227&Itemid=9
(Mexico)
The Mexican government has said that it will put forward legislation to reform the oil sector by the end of March.
http://www.oxan.com/worldnextweek/2008-03-20/Mexicooilsectorreform.aspx
REGIONAL DEVELOPMENTS:
(Argentina)
BNamericas reported that Argentine steel tube and equipment producer Siat has won a tender to supply pipes to state energy company Enarsa.
http://steelguru.com/news/index/2008/03/22/Mzk5NjI%3D/Siat_secures_Enarsa_pipe_supply_contract.html
(Bolivia)
On March 17 Gazprom International Business Department head Stanislav Tsygankov signed an agreement on natural gas exploration in Bolivia with Santos Ramirez, president of the Bolivian state-owned petroleum company Yacimientos Petroliferos Fiscales Bolivianos (YPFB) in the presence of Bolivian President Evo Morales (Bolivian Information Agency, March 17).
http://jamestown.org/edm/article.php?article_id=2372905
(Bolivia and Brazil)
La Paz, Mar 19 (Prensa Latina) The Brazilian Petrobras oil company announced on Wednesday it will invest another 123 million dollars in the Bolivian hydrocarbon sector this year, as part of the agreements signed with the government.
http://www.plenglish.com/article.asp?ID=%7BCD64CD15-B93A-480D-8340-3F701372AEBB%7D)&language=EN
(Ecuador)
Manuela Omari Ima, a Waorani woman from the Ecuadorian Amazon, was born in the Yasuni National Park, a 2.5 million acre primary tropical rainforest at the intersection of the Andes, the Amazon and the Equator. That intersection is also the heart of a struggle between two plans: one for oil exploration and another that would permanently protect one of the most biologically diverse regions of the planet.
http://www.corpwatch.org/article.php?id=14982
Quito, Mar 19 (Prensa Latina) Ecuadorian Mining and Oil Minister Galo Chiriboga claimed a 2007 agreement signed with Venezuela to exchange oil for derivatives has saved $52 million to Ecuador.
http://www.plenglish.com/article.asp?ID=%7BE654D1B5-9D15-4E5D-86E0-FF6D953CDA4D%7D)&language=EN
(Venezuela)
For the better part of a decade, Venezuelan President Hugo Chavez has spent billions of dollars of his country's oil revenue to challenge U.S. interests, build influence around the world and fund a self-styled socialist revolution at home.
http://www.freep.com/apps/pbcs.dll/article?AID=/20080323/NEWS07/803230651/1009/NEWS07
LOCAL DEVELOPMENTS:
A form TR-1 containing the following information has been received by the
Company.
TR-1 notification of major interests in shares
1. Identity of the issuer or the underlying issuer of existing shares to which
voting rights are attached:
Rockhopper Exploration PLC
2. Reason for the notification
An acquisition or disposal of voting rights
3. Full name of person(s) subject to the notification obligation:
MF Global UK Limited
http://www.londonstockexchange.com/LSECWS/IFSPages/MarketNewsPopup.aspx?id=1742849&source=RNS
LOCAL LINKS:
http://www.fogl.com
http://www.desireplc.co.uk
http://www.bordersandsouthern.com
http://www.rockhopperexploration.co.uk.
|
