Falklands : Hydrocarbons Daily Record Monday, 07 April 2008
Submitted by Falkland Islands News Network (Juanita Brock) 08.04.2008 (Article Archived on 22.04.2008)
Remarks from an OPEC Minister that the organisation will not lift production limits caused crude prices to increase today.
HYDROCARBONS DAILY RECORD MONDAY, 07 APRIL 2008
By J. Brock (FINN)
At 1900hrs LMT on Monday, 07 April 2008 Light Sweet Crude was trading at $109.09 up $2.86 on the New York Mercantile Exchange. Brent Crude was trading at $107.14 up $2.24 on London’s ICE Futures Market.
ANALYSIS:
Remarks from an OPEC Minister that the organisation will not lift production limits caused crude prices to increase today. This, however, does not take account non OPEC aligned oil producers increasing their production to meet any perceived demand. This demand will go down as price rises and cost eat their way into the financially strapped middle class and the newly mobile tiger economies. Those thinking of buying a vehicle will, in increasing numbers, decide against it given the availability of cash to pay for running it.
SHARE PRICES AND THE MARKETS:
SHARE PRICES ON THE ALTERNATIVE INVESTMENT MARKET: Monday, 07 April 2008.
TLW: 6670.00 up 7.50, DES: 74.25 up 1.50 1.25, FOGL: 118.50 down 0.50, RKH: 84.00 up 1.50, BOR: 61.25 down 1.75, PRE: 11.50 unchanged, GBP: 6.88 unchanged GPK: 385.00 unchanged, BLT 1685.00 up 68.00 RDSA: 1823.00 up 24.00 RDSB: 1795.00 up 26.00
New York Stock Exchange:
XOM: 88.92 up 0.18 (USD)
THE MARKETS (07/04/08)
FTSE100: 6,014.80 up 67.69, FTSE250: 10,244.50 up 79.36 SmallCap: 3,096.30 down 1.11
DJI: 12,612.43 up 3.01 NASDAQ: 2,364.83 down 6.15 S&P500: 1,372.54 up 2.14
INTERNATIONAL DEVELOPMENTS:
(India and Kazakhstan)
India and Kazakhstan Monday pledged to boost their cooperation in the hydrocarbons sector, a move expected to ...
http://www.thaindian.com/newsportal/business/india-kazakhstan-to-boost-energy-cooperation_10035501.html
(United States)
Remarks as Prepared for Delivery by U.S. Secretary of Energy Samuel W. Bodman Thank you, Guy. It is a pleasure to be here this morning.
http://newsblaze.com/story/20080407083828tsop.nb/newsblaze/WORLDNEW/World-News.html
(Uganda)
Oil prospector Tullow Oil has commenced what they have called a major drilling campaign in the Butiaba area of the Lake Albert rift basin, targeting an reserve potential in excess of a billion barrels.
http://allafrica.com/stories/200804071163.html
REGIONAL DEVELOPMENTS:
(Argentina and the United States)
Over the last years, the Argentinian foreign policy's main concern is inconsistency in terms of its relations with the USA. It is in fact extremely difficult to outline exactly the guidelines of the relation between the Kirchner couple's government and the George W. Bush one. Ambiguity would best describe such relations.
http://uk.equilibri.net/article/9307/Argentina___United_States__the_consequences_of_the_foreign_policy_developed_by_the_Kirchner_couple
(Argentina)
Standard & Poor's (NYSE:MHP) Ratings Services has affirmed Argentine oil and gas company Yacimientos Petroliferos Fiscales YPF SA's local currency corporate credit rating at 'BB+' and removed it from negative watch with a stable outlook.
http://money.cnn.com/news/newsfeeds/articles/newstex/AFX-0013-24054210.htm
(Bolivia)
The Minster of Hydrocarbons, Carlos Villegas, announced this Sunday that Bolivia will produce fertilizers and will have a petrochemical plant once the liquid separation plant be constructed in the Bolivian Chaco region.
http://www.redbolivia.com/noticias/News%20in%20English/Bolivia/62784.html
(Brazil)
Brazil's state-run oil company Petroleo Brasileiro SA (PBR), or Petrobras, plans to drill 15 new oil wells in Argentina, the Valor newspaper said Monday.
http://money.cnn.com/news/newsfeeds/articles/djf500/200804071013DOWJONESDJONLINE000403_FORTUNE5.htm
(Chile)
State-owned National Petroleum Company (ENAP) and mining giant Antofagasta Minerals signed a strategic agreement on Friday, paving the way for future geothermal energy development in Chile.
http://www.santiagotimes.cl/santiagotimes/2008040613358/news/mining-news/enap-and-luksic-subsidiary-form-geothermic-energy-alliance.html
(Venezuela)
Venezuela's state oil company has failed to fulfill promises to make badly needed investments in Bolivia's natural gas fields.
http://www.miamiherald.com/news/americas/story/484160.html
LOCAL DEVELOPMENTS: 7 April 2008 Rockhopper Exploration PLC ("the Company") Directors' Dealings The Company announces that it received notification from Mr. Richard Visick, a non-executive director of the Company, on Monday 7 April 2008, that on the same date he transferred 121,000 ordinary shares of GBP0.01 each in the Company ("Ordinary Shares") at a price of 84.04p per Ordinary Share to his IPS pension fund. Mr. Visick's beneficial interest in the Company has not changed as a result of this transaction. The Company also announces that on 4 April 2008 it received notification from Mr. Visick, that on that date he transferred, by way of a gift, 625,000 Ordinary Shares at a price of 83.25p per Ordinary Share to a trust in the name of Falklands Islands Settlement. In addition, on the same date Mr. Visick transferred by way of a gift 625,000 Ordinary Shares at a price of 83.25p per Ordinary Share to a trust in the name of Falklands 2008 Trust. Both the Falklands Islands Settlement and the Falklands 2008 Trust have a charitable object, with the power to add other beneficiaries. Neither Mr. Visick nor any of his family are potential beneficiaries of either the Falklands Islands Settlement or the Falklands 2008 Trust and, therefore, as a result of these transactions, Mr. Visick's beneficial interest in the share capital of the Company has changed. Mr. Visick now has an interest in 17,782,443 Ordinary Shares representing 23.43 per cent. of the issued Ordinary Share capital of the Company. 192,500 of these Ordinary Shares, representing 0.25 per cent. of the issued Ordinary Share capital of the Company, are held in the name of Legal and Commercial Trustee Retirement Benefit Scheme (pension fund), of which Mr. Visick is a trustee and beneficiary. For further information, please contact: Rockhopper Exploration plc www.rockhopperexploration.co.uk Sam Moody - Managing Director 01722 414 419 Aquila Financial Ltd www.aquila-financial.com Peter Reilly 0118 979 4100 Landsbanki Securities (UK) Limited Tom Hulme / Sebastian Jones 020 7426 9000 This information is provided by RNS The company news service from the London Stock Exchange
http://www.londonstockexchange.com/LSECWS/IFSPages/MarketNewsPopup.aspx?id=1805208&source=RNS
LOCAL LINKS:
http://www.fogl.com
http://www.desireplc.co.uk
http://www.bordersandsouthern.com
http://www.rockhopperexploration.co.uk.
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