Falklands : Hydrocarbons Daily Record Tuesday, 01 April 2008
Submitted by Falkland Islands News Network (Juanita Brock) 02.04.2008 (Article Archived on 15.04.2008)
Hopefully protests over the high cost hydrocarbons products will be peaceful. Some sacrifices must be made in order to help bring the price of these products down. If they increase any more the same protestors would be out of business and not delivering anyway.
HYDROCARBONS DAILY RECORD TUESDAY, 01 APRIL 2008
By J. Brock (FINN)
At 1900hrs LMT on Tuesday, 01 April 2008 Light Sweet Crude was trading at 100.98 down 60 Cents on the New York Mercantile Exchange. Brent Crude was trading at $100.17 down 13 Cents on London’s ICE Futures Market.
ANALYSIS:
Hopefully protests over the high cost hydrocarbons products will be peaceful. Some sacrifices must be made in order to help bring the price of these products down. If they increase any more the same protestors would be out of business and not delivering anyway.
The US Senate has also quizzed Chief Executives from big oil companies as to why they turn huge profits and spend comparatively miniscule amounts of money on research into alternative energy. My own view is that they should also put investors in energy futures to the test to see if they couldn’t find somewhere else to put their money.
One of the reasons analysts say that crude prices are rising is increasing demand from emerging economies. However one can imagine what that demand would be like if crude prices increased any more and people couldn’t afford to fill up their vehicles..
SHARE PRICES AND THE MARKETS:
SHARE PRICES ON THE ALTERNATIVE INVESTMENT MARKET: Tuesday, 01 April 2008.
TLW: 655.00 down 5.50, DES: 74.25 down 0.25, FOGL: 124.50 unchanged, RKH: 82.50 up 1.50, BOR: 64.75 down 0.25, PRE: 12.00 unchanged, GBP: 7.50 unchanged GPK: 386.50 down 2.00, BLT 1495.00 unchanged RDSA: 1754.00 up 17.00 RDSB: 1705.00 up 9.00
New York Stock Exchange:
XOM: 86.72 up 2.14 (USD)
THE MARKETS (01/04/08)
FTSE100: 5,852.60 up 150.49, FTSE250: 10,336.20 up 322.96 SmallCap: 3,086.70 up 31.32
DJI: 12,654.36 up 391.47 NASDAQ: 2,362.75 up 83.65 S&P500: 1,370.14 up 47.43
INTERNATIONAL DEVELOPMENTS:
(United States)
With the price of gasoline through the roof, lawmakers are grilling oil company executives today on Capitol Hill. Congress is demanding to know why gasoline is pushing $4 a a gallon. Prices at the pump have jumped a staggering 25 percent in the past year alone - while the top five oil companies in the U.S. have turned record profits
http://www.live5news.com/news/state/17191426.html
(Asia)
April 1 (Bloomberg) -- Petroleo Brasileiro SA and a unit of Exxon Mobil Corp. agreed to buy control of a refinery in Japan for $50 million, paving the way for the Brazilian state- controlled oil company to begin refining oil in Asia
http://www.bloomberg.com/apps/news?pid=20601086&sid=ajnC3Rhx75VA&refer=latin_america
Officer of Nordic Oil and Gas Ltd. ("Nordic" or, the "Company"), today announced that the Company has received the second well license with regard to its upcoming drilling program at Preeceville, Saskatchewan, Canada.
"We are pleased to have now received the licenses for both wells, however Donald Benson, Chairman and Chief Executive we continue to wait for approval from Saskatchewan Environment, which werequire before we can proceed with the commencement of drilling these wells, "Mr. Benson said.
http://www.newswire.ca/en/releases/archive/April2008/01/c9312.html
REGIONAL DEVELOPMENTS:
(Bolivia)
The Bolivian government keeps advocating talks with the leaders in the eastern town of Camiri on their demands, after five days of strike and threats to take gas fields.
http://www.plenglish.com/article.asp?ID=%7B879CF264-81DE-4598-8842-863F9D906B0A%7D)&language=EN
(Bolivia, Ecuador and Peru)
Across Latin America, resurgent indigenous, labor and campesino movements have contributed to the rise of new governments that declare their independence from the neo-liberal economic model, promise a more equitable distribution of wealth and increased state control over natural resources. But it is uncertain how far these new governments have gone to transform the ecologically unsustainable model of development that dominates the region
http://upsidedownworld.org/main/content/view/1203/1/
(Brazil and Venezuela)
Brazil's state oil company Petrobras will consider taking a bigger stake in Venezuela's heavy oil Carabobo project than the share of up to 10 percent it has been studying, a top company official said on Monday
http://www.reuters.com/article/marketsNews/idUSN3140900820080331
(Colombia)
Benchmark Energy Corp. ("Benchmark" or the "Company" - TSX Venture: BEE) reports that it has re-commenced drilling operations in Colombia with respect to the Company's pilot project with Ecopetrol S.A. utilizing its proprietary well-performance enhancement technology. Operations were temporarily suspended as announced in the Company's March 5, 2008, press release due to security concerns in the region. The 4th well of the pilot project is about to commence on Ecopetrol's Petrolea Field in the Catatumbo Basin in northeastern Colombia.
(Peru)
Government statistics agency, INEI, also said that activity in the farming sector increased 2.73%, while fishing sector activity declined 2.03% in the second month of the year.
http://www.tradingmarkets.com/.site/news/Stock%20News/1288935/
LOCAL LINKS:
http://www.fogl.com
http://www.desireplc.co.uk
http://www.bordersandsouthern.com
http://www.rockhopperexploration.co.uk.
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