Falklands : Hydrocarbons Daily Record Monday, 31 March 2008
Submitted by Falkland Islands News Network (Juanita Brock) 01.04.2008 (Article Archived on 15.04.2008)
Today’s decline in crude prices is due to a sell of and nothing to do with supply, geopolitics or refinery capacity.
HYDROCARBONS DAILY RECORD MONDAY, 31 MARCH 2008
By J. Brock (FINN)
At 1900hrs LMT on Monday, 31 March 2008 Light Sweet Crude was trading at 105.62 down 1.96 on the New York Mercantile Exchange. Brent Crude was trading at $103.77 down $1.23 on London’s ICE Futures Market.
ANALYSIS:
Today’s decline in crude prices is due to a sell of and nothing to do with supply, geopolitics or refinery capacity. Though the drop is sharp many analysts expect the buy-back to begin on Tuesday and energy users are bracing for another price rise. Consumers are looking for a consistent downturn in crude prices before their confidence in hydrocarbons products increases.
SHARE PRICES AND THE MARKETS:
SHARE PRICES ON THE ALTERNATIVE INVESTMENT MARKET: Monday, 31 March 2008.
TLW: 660.50 up 12.50, DES: 74.50 down 3.00, FOGL: 124.50 unchanged, RKH: 81.00 up 1.50, BOR: 65.00 down 0.50, PRE: 12.00 down 0.50, GBP: 7.50 unchanged GPK: 388.50 unchanged, BLT 1495.00 up 19.00 RDSA: 1737.00 up 29.00 RDSB: 1696 up 37.00
New York Stock Exchange:
XOM: 84.58 down 0.64 (USD)
THE MARKETS (31/03/08)
FTSE100: 5,702.10 up 9.22, FTSE250: 10,031.20 up 51.90 SmallCap: 3,055.40 up 23.31
DJI: 12,263.73 up 46.33 NASDAQ: 2,279.10 up 17.92 S&P500: 1,322.69 up 7.47
INTERNATIONAL DEVELOPMENTS:
(Business and Training) Bitam announced the release of its latest version of Enterprise Performance Management (EPM) solutions, Bitam G6. On Thursday, April 10, 2008, Bitam is hosting a live Webinar to demonstrate how companies of any size can use Bitam G6 to significantly improve their business performance. Bitam's sixth generation of applications for EPM enables users to r each new levels of control, accuracy and flexibility in their decision making process and achieve success with greater confidence. http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/03-31- 2008/0004782856&EDATE
(Spain)
Caixa Catalunya currently has no plans to sell its stakes in Repsol YPF (NYSE:REP PRA) SA and Gas Natural SDG SA (NYSE:GNN) , a source at the savings bank said in reference to earlier press reports.
http://money.cnn.com/news/newsfeeds/articles/newstex/AFX-0013-24132732.htm
(Latin America – General)
After riding an export boom that sent economic growth surging to its highest levels in three decades, Latin America now finds itself vulnerable to U.S. financial turmoil and the possibility that world commodity prices may fall.
http://www.miamiherald.com/business/story/474739.html
REGIONAL DEVELOPMENTS:
(Bolivia)
Local leaders in the eastern Bolivian town of Camiri broke off their dialogue with the government of President Evo Morales, from whom they are demanding a more effective petroleum policy, and on Sunday were threatening to occupy an oil field operated by Spanish energy giant Repsol YPF.
http://www.tradingmarkets.com/.site/news/Stock%20News/1274735/
(Brazil)
A Brazilian newly found hige offshore oil field could raise the country's petroleum reserves by 40% and boost the country into the ranks of the world's major exporters, Brazilian government said.
http://english.neftegaz.ru/lenta/show/77366/
Investment by the government and the private sector in Northeast Brazil should bring about definitive changes for the region, said today (31) president Luiz Inácio Lula da Silva. In his weekly 'Breakfast with the President' radio show, Lula highlighted the role of works carried out under the Growth Acceleration Programme (PAC) of the Brazilian federal government as mechanisms for growth.
http://www.anba.com.br/ingles/noticia.php?id=17861
Under the planned contracts, which have a combined total length of 29 years, five deep-water drilling rigs currently operating off Brazil would extend their work for Petrobras, bringing Noble's total backlog to more than $10 billion. Brazil is seen as a hot market for oilfield service companies as state oil company Petrobras will need to spend heavily to develop complex offshore fields including its massive Tupi find in the Santos basin.
http://www.reuters.com/article/rbssEnergyNews/idUSN3131016320080331
Brazilian energy company Petroleo Brasileiro SA said that its sale of Ecuadorean assets to Teikoku Oil Co. of Japan was legal and approved by local authorities, contrary to claims by a top Ecuadorean prosecutor.
http://www.bloomberg.com/apps/news?pid=20601087&sid=ayFLHXUSq7e4&refer=home
(Colombia)
Valero - along with Colombia's state oil company Ecopetrol, Japan's Itochu and Indian firm Reliance - is a prequalified bidder for the Mesoamerican refinery ...
http://www.bnamericas.com/story.jsp?idioma=I§or=9¬icia=428652
(Venezuela)
Venezuelan state oil corporation Pdvsa is launching an aggressive regional expansion plan this year, including purchase and leasing of facilities for crude oil storage and shipping and for processing of oil byproducts. Based on the 2007 Report the holding submitted last February to the Venezuelan Parliament, this year the company plans to buy an oil terminal northeast Brazil with a capacity of 24,000 bpd of fuel, a lube mixing and filling plant in Ecuador, and 38,000 tons / year asphalt terminal in Ecuador. The purchases in Ecuador will help Pdvsa "expand PDV trademark's share in the Ecuadorian market and cement alliances with Petroecuador to introduce the trademark in the state chain."
http://english.eluniversal.com/2008/03/28/en_eco_art_pdvsa-to-expand-oper_28A1468083.shtml
LOCAL LINKS:
http://www.fogl.com
http://www.desireplc.co.uk
http://www.bordersandsouthern.com
http://www.rockhopperexploration.co.uk.
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