Falklands : Hydrocarbons Daily Record Sunday, 04 May 2008
Submitted by Falkland Islands News Network (Juanita Brock) 04.05.2008 (Article Archived on 18.05.2008)

Many analysts believe it is the weakening state of the US Dollar and speculative investment in oil futures that have helped to keep the price of crude at a criminally high level.

HYDROCARBONS DAILY RECORD SUNDAY, 04 MAY 2008

By J. Brock (FINN)

At 1900hrs LMT on Friday, 02 May 2008 Light Sweet Crude was trading at $116.32 up $3.80 on the New York Mercantile Exchange.  Brent Crude was trading at $112.11 up $1.61 on London’s ICE Futures Market.

ANALYSIS:

Many analysts believe it is the weakening state of the US Dollar and speculative investment in oil futures that have helped to keep the price of crude at a criminally high level.  Demand is the key element in bringing the price down but for most of us this means being forced into not using hydrocarbons products because they are too expensive.  Those people who are benefiting from alternative energy will be better off than most.  With cleaner emissions or no waste products at all, the environment will also benefit.

RELATED ARTICLES:

($200.00 Oil)

Last week, OPEC's current chairman, Algeria's Minister of Energy and Mining Shakib Khalil, said "the dollar is now the barometer of oil prices," and anticipated that oil prices would jump from their current level of about $120 per barrel to almost $200.

http://english.daralhayat.com/business/05-2008/Article-20080504-b45c4211-c0a8-10ed-01e2-5c73b9769155/story.html

(Why Prices are High)

Director of International Affairs Department at National Iranian Oil Company Hojjatollah Ghanimifard said on Sunday that high oil price is not because of low supply from OPEC and non-OPEC states.

http://www2.irna.ir/en/news/view/menu-234/0805044817201056.htm

(Crude Supplies)

The theory of peak oil holds that at some point — a year from now, a decade — global production of crude will peak, possibly plateau and then inexorably decline.

http://www.chron.com/disp/story.mpl/editorial/5750861.html

SHARE PRICES ON THE ALTERNATIVE INVESTMENT MARKET: Friday, 02 May 2008.

TLW: 760.00 up 9.50, DES:  89.00 up 0.25, FOGL: 150.00 up 2.50, RKH:  99.00 up 1.50 BOR: 75.50 down 4.00, PRE:  11.50 down 1.00, GBP: 7.50 unchanged GPK: 389.00 down 1.00, BLT 1876.00 up 86.00 RDSA: 2028.00 up 19.00 RDSB: 2020.00 up 18.00

New York Stock Exchange:

XOM:  89.49 down 0.41 (USD)

THE MARKETS (02/05/08)

FTSE100: 6,215.50, FTSE250: 10,290.80 up 217.80, SmallCap: 3,204.60 up 47.13

DJI: 13,058.20 up 48.20 NASDAQ: 2,476.99 down 3.72 S&P500: 1,413.89 up 4.55

INTERNATIONAL DEVELOPMENTS:

(Reserves)

According to the pessimists, the rigs off Britain's coast could cease pumping in a decade's time. But, as Tim Webb warns, the oil giants could depart leaving 9 billion barrels under the sea bed - because the economics of residual fields simply don't add up

http://www.guardian.co.uk/business/2008/may/04/oil.energy

(Job Losses)

SHELL, the Anglo-Dutch oil and gas giant, has announced a further 400 job losses across Europe.

http://edinburghnews.scotsman.com/business/Shell-axes-400-more-Euro.2416376.jp

(Geopolitics)

Greater Sunrise is once more being touted as a development project after several years where the political situation in East Timor has limited Woodside, the project operator, in translating its enthusiasm into a commercial outcome. Floating LNG is an intriguing prospect.

http://www.theaustralian.news.com.au/story/0,25197,23643969-643,00.html

(Iran)

European oil groups Royal Dutch Shell and Repsol YPF are under pressure from the United States to end talks with Iran about a multi-billion dollar natural gas deal, the Expansion newspaper reported Saturday.

http://afp.google.com/article/ALeqM5ia7EMAtwpKVxHt9KhJHXJl9C_X9Q

REGIONAL DEVELOPMENTS:

(Bolivia)

Sporadic clashes broke out in Bolivia's richest region of Santa Cruz on Sunday as voting started in an autonomy referendum seen as a rejection of President Evo Morales' leftist reforms.

http://uk.reuters.com/article/worldNews/idUKN0332548020080504

Bolivian Government Minister Juan Ramon Quintana reminds that the latest company nationalizations are in line with current social policy of that country.

http://www.plenglish.com/article.asp?ID=%7B55F6517F-EA5B-4437-9912-CCE1FC6841A9%7D)&language=EN

(Brazil)

Brazil’s plan to become one of the world’s biggest oil exporters hinges on exploiting crude six miles below the Atlantic Ocean surface in deposits so hot they can melt the metal used to carry uranium to nuclear plants.

http://www.nwanews.com/adg/Business/224764/

(Colombia)

Colombia's Cano Limon oil pipeline was paralyzed for a third day after it was bombed by rebels on April 29, state-run Ecopetrol SA said.

http://www.canada.com/calgaryherald/news/calgarybusiness/story.html?id=21d85cb1-3401-47ea-9338-eb8989e328fd

(Ecuador)

Petroecuador's Esmeraldas refinery, the OPEC nation's largest with a 100,000 barrels of crude per day capacity, is working at 90 percent of its normal levels due to repairs, a company official said on Wednesday.

http://in.reuters.com/article/oilRpt/idINN3053349820080430

(Peru)

While in conversation with an industry source based in South America late last evening, a polymerupdate team member was informed that as per tender documents issued by state Peruvian oil company Petroperu, a cargo of 200,000 barrels of virgin naphtha is being offered by the company

http://www.polymerupdate.com/polymer-petrochemical-news/checkbreak.asp?id=62787&types=brk

(Venezuela)

Venezuelan state oil company PDVSA expects 2008 crude oil production to reach 3.45 million barrels per day (bpd), according to the company's 2008 budget published in the official gazette circulating on Friday.

http://uk.reuters.com/article/oilRpt/idUKN0228722420080502

LOCAL DEVELOPMENTS:

(Desire)

The Company received notification on 2nd May 2008, that Barclays Plc, through Barclays Stockbrokers Ltd and Gerrard Investment Management Ltd, has an indirect interest in 11,457,413 ordinary shares in the Company, representing 5.02% of the issued share capital of the Company.

http://www.londonstockexchange.com/LSECWS/IFSPages/MarketNewsPopup.aspx?id=1830669&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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