Falklands : Hydrocarbons Daily Record Thursday, 17 April 2008
Submitted by Falkland Islands News Network (Juanita Brock) 18.04.2008 (Article Archived on 02.05.2008)
These high prices ahead of the summer drive season will not be good for those who depend on transport to make a living and extortionate prices have already added to the costs of everything from plane tickets to baked beans.
HYDROCARBONS DAILY RECORD THURSDAY, 17 APRIL 2008
By J. Brock (FINN)
At 1900hrs LMT on Thursday, 17 April 2008 Light Sweet Crude was trading at $114.86 down 7 Cents on the New York Mercantile Exchange. Brent Crude was trading at $112.43 down 23 Cents on London’s ICE Futures Market.
ANALYSIS:
A stronger US Dollar caused crude prices to ease slightly today. These high prices ahead of the summer drive season will not be good for those who depend on transport to make a living and extortionate prices have already added to the costs of everything from plane tickets to baked beans. With pain (HDR calls it an assault) at the pump comes the decision whether or not to go on vacation this year.
Increasingly people are looking into farming small plots of land to grow food. And, the use of alternative energy has been a passion for many who are serious about weaning themselves off of hydrocarbons as an energy source.
(Related Articles)
The new BMW Hydrogen 7 Mono-Fuel car is a concept vehicle that is designed to run completely on gas. The combustion engine of the mono-fuel Hydrogen 7 is optimised to run solely on lightweight hydrogen, unlike its predecessor, a bi-fuel car, which ran on both gasoline and liquefied hydrogen gas.
http://www.domain-b.com/companies/companies_b/bmw/20080417_hydrogen_7.html
Both the financial and food crises have been triggered off by excessive economic optimism of experts in the last few years, and their inability to predict global challenges
http://en.rian.ru/analysis/20080417/105313261.html
SHARE PRICES ON THE ALTERNATIVE INVESTMENT MARKET: Thursday, 17 April 2008.
TLW: 717.50 down 0.50, DES: 91.00 up 0.75, FOGL: 144.00 up 7.50, RKH: 101.00 down 14.00, BOR: 69.75 down 2.25, PRE: 11.75 up 0.25, GBP: 7.00 down 0.25 GPK: 391.00 unchanged, BLT 1815.00 down 50.00 RDSA: 1895.00 down 21.00 RDSB: 1870 down 18.00
New York Stock Exchange:
XOM: 93.38 up 0.49 (USD)
THE MARKETS (17/04/08)
FTSE100: 5,980.40 down 65.83, FTSE250: 10,089.40 down 1.76, SmallCap: 3,099.50 up 15.31
DJI: 12,620.49 up 1.22 NASDAQ: 2,341.83 down 8.28 S&P500: 1,365.56 up 0.85
INTERNATIONAL DEVELOPMENTS:
(Gas Hydrates)
Sir Humphrey Davy discovered gas hydrates or clatharates in 1810; they are crystalline water based solids physically resembling ice, in which small non-polar molecules (typically gases) are trapped inside cages of hydrogen bonded water molecules.
http://www.businesswire.com/portal/site/google/?ndmViewId=news_view&newsId=20080417005047&newsLang=en
(Azerbaijan)
The due announcement was made by general manager of BP-Georgia Hew McDowell. The oil transportation by the Baku-Supsa pipeline was stopped by BP in November of 2006 after abnormalities were revealed during the inspections on the pipeline.
http://www.today.az/news/business/44358.html
(Cuba)
Cuba's minister of basic industry said plans by a consortium of companies to drill in Cuba's Gulf of Mexico waters this year have been rescheduled for 2009, the country's state-run media said on Wednesday.
http://www.caribbeannetnews.com/news-7232--5-5--.html
(India)
MUMBAI, Apr. 17, 2008 (Thomson Financial delivered by Newstex) -- Standard & Poor's (NYSE:MHP) Ratings Services affirmed its 'A' long-term foreign currency corporate credit rating on Chilean state-owned oil and gas company Empresa Nacional del Petroleo (ENAP). The outlook is stable.
http://money.cnn.com/news/newsfeeds/articles/newstex/AFX-0013-24561364.htm
REGIONAL DEVELOPMENTS:
(Brazil)
Until recently Brazil has never been regarded as a more or less big oil and gas exporter. Moreover, this South American country even couldn’t provide itself with oil and gas for a long time so it was the oil and gas importer.
http://english.neftegaz.ru/english/analit/reviews.php?id=596&one=1
An oil area deep below the waters off Brazil's southern coast may well be gigantic in size, several times larger than a huge discovery called Tupi in the same area late last year, an oil geologist familiar with the data and Credit Suisse both said Wednesday.
http://www.cattlenetwork.com/content.asp?contentid=214164
Petroleo Brasileiro SA, Brazil's state-controlled oil company, will need to complete more wells and studies to determine the size of oil reserves in fields off the country's southeastern coast.
http://www.bloomberg.com/apps/news?pid=20601086&sid=aAXR5bQv.HO8&refer=news
(Chile)
Standard & Poor's (NYSE:MHP) Ratings Services said it affirmed its 'A' long-term foreign currency corporate credit rating on Chilean state-owned oil and gas company Empresa Nacional del Petroleo (ENAP) with a stable outlook. 'Despite the deterioration of the company's stand-alone credit quality, we believe that ENAP has a significant and increasing importance as a public-policy entity in Chile,' S&P said.
http://money.cnn.com/news/newsfeeds/articles/newstex/AFX-0013-24580552.htm
(Colombia)
Gran Tierra Energy Inc. (Amex: GTE; TSX: GTE), a company focused on oil exploration and production in South America, today announced that it had completed initial testing operations on Costayaco-3, a new well drilled in the recently discovered Costayaco Field in Colombia. Gran Tierra Energy also updated progress being made with additional drilling activities and production infrastructure development.
http://www.cnw.ca/fr/releases/archive/April2008/16/c6027.html
(Venezuela)
Oil producers in Venezuela were sucker punched again by Hugo Chavez. The Venezuela National Assembly voted on Tuesday to enact a new windfall profits tax on all Venezuelan producers. The tax is expected to raise $9 billion a year from already struggling producers
http://www.rightsideadvisors.com/public/commentary.go/rsa/commentary/comm-energy/20080417_043842_msg.html/Venezuela-Kills-Golden-Goose.html
On their exported oil volumes net of imports, companies must pay a per-barrel tax of 50% of the amount by which the monthly average price of Brent crude exceeds $70/bbl. The tax rate increases to 60% when the Brent price exceeds $100/bbl.
http://www.pennenergy.com/display_article/326148/7/PRARC/none/GenIn/1/Venezuela-hits-exported-oil-with-new-tax/
LOCAL LINKS:
http://www.fogl.com
http://www.desireplc.co.uk
http://www.bordersandsouthern.com
http://www.rockhopperexploration.co.uk.
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