Falklands : Hydrocarbons Daily Record Tuesday, 29 April 2008
Submitted by Falkland Islands News Network (Juanita Brock) 30.04.2008 (Article Archived on 14.05.2008)
Today, prior to the US Department of Energy Administration Weekly inventory report, there was a significant drop in crude prices.
HYDROCARBONS DAILY RECORD TUESDAY, 29 APRIL 2008
By J. Brock (FINN)
At 1900hrs LMT on Tuesday, 29 April 2008 Light Sweet Crude was trading at $115.63 down $3.12 on the New York Mercantile Exchange. Brent Crude was trading at $113.43 down $3.31 on London’s ICE Futures Market.
ANALYSIS:
Today, prior to the US Department of Energy Administration Weekly inventory report, there was a significant drop in crude prices. This was tempered by another article about $200.00 oil. Sure, the price could go that high, but only the super rich could afford to use it. Those like you and I will be relegated to bicycles, walking and public transport. Mind, the exercise does us good and helps to keep pennies in our pockets while those with means pollute the atmosphere.
Related Article:
"Oil is currently under the influence of many factors even though there is no shortage of supplies ... Prices may or may not go up to $200" by year's end, said Al Attiyah, whose country is an Opec member.
(HDR Note: It might be $200.00 per barrel but it ain’t goin nowhere, mate, if people aren’t prepared to buy its produce.)
http://www.gulf-daily-news.com/Story.asp?Article=215993&Sn=BUSI&IssueID=31041
SHARE PRICES ON THE ALTERNATIVE INVESTMENT MARKET: Tuesday, 29 April 2008.
TLW: 748.00 down 16.50, DES: 90.25 down 3.25, FOGL: 135.00 up 5.00, RKH: 97.50 down 6.00, BOR: 84.00 down 0.75, PRE: 12.75 up 1.00, GBP: 8.00 up 0.63 GPK: 389.50 unchanged, BLT 1818.00 down 59.00 RDSA: 2043.00 up 102.00 RDSB: 2035.00 up 112.00
New York Stock Exchange:
XOM: 91.79 down 0.66 (USD)
THE MARKETS (29/04/08)
FTSE100: 6,089.40 down 0.96, FTSE250: 10,007.40 down 110.10, SmallCap: 3,126.30 down 18.85
DJI: 12,831.94 down 39.81 NASDAQ: 2,426.10 up 1.70 S&P500: 1,390.94 down 5.43
INTERNATIONAL DEVELOPMENTS:
(Gulf of Mexico)
The federal agency that handles offshore leases has approved the development of a floating storage facility in the Gulf of Mexico that will allow crude oil to be transported to shore in tankers.
http://www.chron.com/disp/story.mpl/ap/business/5740214.html
REGIONAL DEVELOPMENTS:
(Bolivia)
Bolivia's leftist government said on Monday it was on track to take control of three privatized energy companies by buying back shares in the firms as part of a nationalization drive started in 2006.
President Evo Morales has set April 30 as the deadline for the takeover of Andina, controlled by Spain's Repsol YPF; Chaco, held by BP Plc and Pan American Energy; and pipeline company Transredes, controlled by Ashmore Energy International Ltd.
http://www.guardian.co.uk/feedarticle?id=7490365
(Colombia)
The Colombian stock index Tuesday rose, led by shares of state-owned oil company Ecopetrol SA (ECOPETROL.BO), which announced a small oil discovery. The IGBC benchmark index rose 0.5% to 9,778.07 points, its highest level since Jan. 15.
http://www.tradingmarkets.com/.site/news/Stock%20News/1461888/
(Venezuela)
Venezuela's decision to pull out of an investment treaty signed in 1996 with Holland could have negative implications for Venezuela's oil industry, an energy analyst told BNamericas.
http://www.bnamericas.com/story.jsp?idioma=I§or=6¬icia=432677
LOCAL DEVELOPMENTS:
Global Petroleum Limited advises that it has disposed of a significant parcel of Falkland Oil & Gas Limited (“FOGL”) shares. The Company has sold 10,425,000 shares, representing 11.29% of the FOGL shares in issue, realising approximately A$24.3M. The Company now holds 1,710,000 shares in FOGL representing 1.85%.
http://www.londonstockexchange.com/LSECWS/IFSPages/MarketNewsPopup.aspx?id=1825754&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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