Falklands : Hydrocarbons Daily Record Monday, 14 April 2008
Submitted by Falkland Islands News Network (Juanita Brock) 15.04.2008 (Article Archived on 29.04.2008)
Crude prices increased significantly today due to the slumping US Dollar and fickleness in the economy as well as supply disruptions in the US and Nigeria.
HYDROCARBONS DAILY RECORD MONDAY, 14 APRIL 2008
By J. Brock (FINN)
At 1900hrs LMT on Monday, 14 April 2008 Light Sweet Crude was trading at $111.76 up $1.72 on the New York Mercantile Exchange. Brent Crude was trading at $109.46 on London’s ICE Futures Market.
ANALYSIS:
Crude prices increased significantly today due to the slumping US Dollar and fickleness in the economy as well as supply disruptions in the US and Nigeria. Some analysts say this will change tomorrow when there is a sell-off to milk the weekly profit prior to Wednesday’s inventory report from the UD Department of Energy Administration.
(Related Article)
The U.S. greenback slipped on worries about the gloomy economic outlook for the world's top consumer, boosting oil and other dollar-denominated commodities purchased as a hedge against inflation.
http://www.canada.com/montrealgazette/news/business/story.html?id=3f9b68a4-6407-458f-b666-eea718baaa77&k=91889
SHARE PRICES AND THE MARKETS:
SHARE PRICES ON THE ALTERNATIVE INVESTMENT MARKET: Monday, 14 April 2008.
TLW: 685.00 down 3.00, DES: 84.50 up 2.00, FOGL: 125.50 up 6.00, RKH: 106.50 up 5.50, BOR: 67.00 up 1.75, PRE: 11.50 unchanged, GBP: 6.50 unchanged GPK: 381.00 unchanged, BLT 1706.00 down 40.00 RDSA: 1832.00 down 14.00 RDSB: 1806 down 14.00
New York Stock Exchange:
XOM: 89.70 up 1.08 (USD)
THE MARKETS (14/04/08)
FTSE100: 5,831.60 down 63.86, FTSE250: 9,845.50 down 85.95 SmallCap: 3,060.40 down 32.22
DJI: 12,309.63 down 15.79 NASDAQ: 2,275.82 down 14.42 S&P500: 1,329.00 down 3.83
INTERNATIONAL DEVELOPMENTS:
(Kenya)
Nairobi's profile as a regional exploration hub moved a notch higher with the arrival of yet another international oil miner, Vangold. The development comes despite that fact that no oil has been discovered in Kenya compared with neighbouring Uganda and Tanzania, which have struck oil and gas respectively.
http://allafrica.com/stories/200804140068.html
(North Sea)
Aberdeen integrity, inspection and corrosion specialist, iicorr Ltd, is celebrating its future expansion after its acquisition of Subspection Ltd for an undisclosed sum. The combined expertise of the two companies will result in a new Business Division in iicorr, creating an industry leading organisation specialising in subsea technical integrity and corrosion solutions.
http://subseaworld.com/news/statoilhydro-find-gas-at-natalia-in-the-north-sea-02054.html
(Canada)
CALGARY, ALBERTA, Apr 08, 2008 (MARKET WIRE via COMTEX) -- Eurogas Corporation (TSX VENTURE: EUG) ("Eurogas" or the "Corporation") is pleased to announce that Eurogas and Atlas Petroleum Exploration Worldwide, Ltd. ("APEX") have entered into a Farmout Agreement with Delta Hydrocarbons B.V. ("Delta Hydrocarbons") with respect to the Sfax Offshore Exploration Permit located offshore Tunisia in the Gulf of Gabes. Eurogas and APEX currently hold 45% and 55% participating interests, respectively, in the Sfax Permit. The farmout agreement with Delta Hydrocarbons is subject to regulatory approval from ETAP, the Tunisian state oil company, and the Government of Tunisia.
http://www.foxbusiness.com/markets/industries/energy/article/eurogas-farmout-sfax-exploration-permit-offshore-tunisia_553701_11.html
REGIONAL DEVELOPMENTS:
(Argentina)
Repsol YPF (NYSE:REP PRA) SA. is not in contact with Chinese investors over the possible sale of assets in Latin America, sources at the Spanish-Argentine oil and gas group told Thomson Financial News.
http://money.cnn.com/news/newsfeeds/articles/newstex/AFX-0013-24476631.htm
(Brazil)
Head of Brazil's National Petroleum Agency (ANP) said on Monday an offshore find by state oil company Petrobras (PETR4.SA: Quote, Profile, Research)(PBR.N: Quote, Profile, Research) known as Carioca may contain 33 billion barrels of oil equivalent.
http://www.reuters.com/article/marketsNews/idUSN1440058920080414
MPF has entered into a US$630 million three year firm contract with Petrobras Oil and Gas BV for the use of its multi purpose floater, initially as a deepwater drilling unit. The vessel, known as MPF-01, is under construction at the Dragados Offshore SA's yard in Cadiz, Spain and is expected to start this contract during the fourth quarter of 2009, immediately following delivery.
http://www.energycurrent.com/index.php?id=2&storyid=9941
State-run oil firm Petroleo Brasileiro SA (PBR), or Petrobras, late Monday in a note to Brazil's stock exchange commission said it needed more data to evaluate the size of a new discovery in the country's ultradeep pre-salt oil area.
http://money.cnn.com/news/newsfeeds/articles/djf500/200804141743DOWJONESDJONLINE000598_FORTUNE5.htm
(Colombia)
Osage Exploration and Development, Inc. (OTCBB:OEDV), a Colombian focused independent oil and gas exploration and production company, is pleased to announce that it has acquired 100% of Cimarrona LLC which owns a 9.4% interest in the producing Guaduas oil field in Colombia. The Guaduas Field is made up of the Dindal and Rio Seco blocks in the prolific Middle Magdalena Valley. The acquisition also includes 9.4% of a pipeline that can transport up to 20,000 bbls/day. The remaining 90.6% interest in both assets is held by Pacific Rubiales Energy (PEG-TSE), one of the largest independent Exploration and Production companies in Colombia.
http://www.businesswire.com/portal/site/google/?ndmViewId=news_view&newsId=20080414005480&newsLang=en
(Venezuela)
CARACAS, Venezuela, Apr 10, 2008, 2008 (IPS/GIN via COMTEX) -- -- The Venezuelan government is set to levy a new tax on the income of oil companies, which have been profiting from the soaring prices of crude. The tax on windfall profits "is intended to appropriate for the state, as the owner of a scarce natural resource, the extra income generated precisely because of the scarcity of the resource," said Energy Minister Rafael Ramirez.
http://www.tradingmarkets.com/.site/news/Stock%20News/1360980/
LOCAL LINKS:
http://www.fogl.com
http://www.desireplc.co.uk
http://www.bordersandsouthern.com
http://www.rockhopperexploration.co.uk.
|
