Falklands : Hydrocarbons Daily Record Thursday, 10 April 2008
Submitted by Falkland Islands News Network (Juanita Brock) 11.04.2008 (Article Archived on 25.04.2008)
The major factor in today’s slight decrease in crude prices is an acknowledgement that a softer demand from the United States will make an increase in production unlikely.
HYDROCARBONS DAILY RECORD THURSDAY, 10 APRIL 2008
By J. Brock (FINN)
At 1900hrs LMT on Thursday, 10 April 2008 Light Sweet Crude was trading at $110.11 down 76 Cents on the New York Mercantile Exchange. Brent Crude was trading at $108.20 down 27 Cents on London’s ICE Futures Market.
ANALYSIS:
The major factor in today’s slight decrease in crude prices is an acknowledgement that a softer demand from the United States will make an increase in production unlikely. HDR feels that with softer demand there is no need to pump more crude. Profit taking also figured into the slight decrease in Crude prices today.
SHARE PRICES AND THE MARKETS:
SHARE PRICES ON THE ALTERNATIVE INVESTMENT MARKET: Thursday, 10 April 2008.
TLW: 672.00 up 7.00, DES: 75.50 up 2.00, FOGL: 119.00 up 0.50, RKH: 87.50 up 3.25, BOR: 63.25 up 3.25, PRE: 11.75 unchanged, GBP: 6.88 unchanged GPK: 382.00 unchanged, BLT 1758.00 down 46.00 RDSA: 1853.00 down 1.00 RDSB: 1827.00 down 1.00
New York Stock Exchange:
XOM: 89.55 down 0.15 (USD)
THE MARKETS (10/04/08)
FTSE100: 5,965.10 down 18.77, FTSE250: 10,013.00 down 58.83 SmallCap: 3,078.10 down 16.55
DJI: 12,582.06 up 54.80 NASDAQ: 2,351.70 up 29.58 S&P500: 1,360.55 up6.06
INTERNATIONAL DEVELOPMENTS:
(Baltic States and Russia)
Baltic Oil Terminals has appointed Roman Niewiadomski as group finance director and company secretary with immediate effect. Baltic's objective is to leverage increasing demand for shipment of hydrocarbons in Kaliningrad, Russia.
http://www.dofonline.co.uk/economy/baltic-oil-terminals-names-niewiadomski3554.html
(Azerbaijan)
Azerbaijan, Baku, 9 April /corr. TrendCapital S.Aliyev / LUKoil Overseas has concluded its appraisal of the environmental impact of the second exploration well in the D-222 (Yalama) prospective block located in the Azerbaijani section of the Caspian Sea, according to the company.
http://capital.trendaz.com/index.shtml?show=news&newsid=1173100&lang=EN
REGIONAL DEVELOPMENTS
(Argentina)
Repsol YPF (NYSE:REP PRA) SA. has ruled out leaving any Latam country, Negocio reported, citing comments by chairman Antonio Brufau yesterday in Portugal.
http://money.cnn.com/news/newsfeeds/articles/newstex/AFX-0013-24396798.htm
CORDOBA, ARGENTINA--(Marketwire - April 10, 2008) - Researched by Industrial Info Resources (Sugar Land, Texas) -- Petrobras (NYSE:PBR) (Rio de Janeiro, Brazil) concluded the acquisition and transfer of the Nishihara refinery on April 1, 2008, in Okinawa, Japan. Petrobras acquired an 87.5% stake from TonenGeneral Sekiyu KK Company, an ExxonMobil (NYSE:XOM) (Irving, Texas) subsidiary, for $50 million. Nansei Sekiyu will hold the remaining 12.5% of the company.
http://www.marketwire.com/mw/release.do?id=842284
(Colombia)
Colombia is drawing up a contingency plan to address operators' future needs as it seeks to encourage investment in its petroleum sector. Armando Zamora, director general of Colombia's National Hydrocarbons Agency (ANH), told OGJ in an exclusive interview that the global shortage of equipment and personnel was a major challenge, particularly as Colombia has launched its international licensing round with 46 blocks on offer. Companies that have shown interest include Repsol, ExxonMobil Corp., Sinopec, Reliance, Total SA, and the Turkish National Petroleum Co.
http://www.ogj.com/display_article/325335/7/ONART/none/GenIn/1/Colombia-prepares-petroleum-contingency-plan/
(Ecuador)
Mr. Cabrera, an Ecuadorean geological engineer, recommended to an Ecuadorean judge last Tuesday that Chevron pay $8 billion to $16 billion for environmental damages if the company loses a bitterly contested case that started in 1993 with a lawsuit in New York courts, which ruled that the case should be tried in Ecuador.
http://www.csmonitor.com/2008/0409/p06s01-woam.html
(Venezuela)
Venezuela's planned windfall oil tax will be levied on all private companies operating in the country and will bring in several billion dollars a year, Venezuela's oil minister said on Wednesday.
http://www.reuters.com/article/ousiv/idUSN0240270020080409
State-run Petroleos de Venezuela explained at the World Congress of National Oil Companies in London its strategy on oil sovereignty and social responsibility.
http://www.plenglish.com/article.asp?ID=%7BC2BF24A3-6069-4A86-BA47-B8579048D5E2%7D)&language=EN
LOCAL DEVELOPMENTS:
(Desire Petroleum)
Application has been made for the admission to trading on AIM of 478,239 new ordinary shares in Desire following the exercise of an equivalent number of options on 9 April 2008. 478,239 options were exercised at 20.11p per share. Admission is expected to occur on 16 April 2008. Following the exercise of these options, Desire has 227,606,251 ordinary shares in issue with an equivalent number of voting rights.
http://www.londonstockexchange.com/LSECWS/IFSPages/MarketNewsPopup.aspx?id=1808856&source=RNS
(Rockhopper Exploration)
Rockhopper Exploration plc announces that, following receipt of a Notice of Exercise from Ambrian Partners Ltd, options have been exercised in respect of 238,095 new ordinary shares of 1p each in the Company ("Ordinary Shares") at a price of 42p per Ordinary Share.
http://www.londonstockexchange.com/LSECWS/IFSPages/MarketNewsPopup.aspx?id=1808853&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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