Falklands : Hydrocarbons Daily Record Thursday, 15 May 2008
Submitted by Falkland Islands News Network (Juanita Brock) 16.05.2008 (Article Archived on 30.05.2008)
Volatile trading and a pipeline explosion in Nigeria were factors in the nearly flat result in crude prices today.
HYDROCARBONS DAILY RECORD THURSDAY, 15 MAY 2008
By J. Brock (FINN)
Crude closing: Thursday, 15 May 2008 Light Sweet Crude closed at $124.12 down 10 Cents on the New York Mercantile Exchange. Brent Crude closed at $121.25 down 61 Cents on London’s ICE Futures Market.
ANALYSIS:
Volatile trading and a pipeline explosion in Nigeria were factors in the nearly flat result in crude prices today. Prices remain criminally high with people feeling the pinch when they purchase hydrocarbons products as well as everything depending on them from food to taxi fares.
RELATED ARTICLE:
U.S. crude oil futures finished slightly lower on Thursday, after volatile trading associated with the June crude contract options expiration.
http://in.reuters.com/article/oilRpt/idINN1556347820080515
DISCLAIMER:
Note: The sources for related articles come from a variety of websites so that readers can get as wide a selection of views as possible. HDR does not necessarily align itself with any of the views expressed
SHARE PRICES ON THE ALTERNATIVE INVESTMENT MARKET: Thursday, 15 May 2008.
TLW: 924.50 up 22.00, DES: 91.50 down 2.50, FOGL: 156.50 up 1.50 RKH: 101.00 unchanged, BOR: 93.00 down 2.00 PRE: 14.00 down 0.50, GBP: 8.50 up 0.13, GPK: 424.00 unchanged, BLT 2174.00 up 56.00, RDSA: 2059.00 up 3.00 RDSB: 2034.00 up 6.00
New York Stock Exchange:
XOM: 91.30 up 1.39 (USD)
THE MARKETS (15/05/08)
FTSE100: 6,251.80 up 36.81, FTSE250: 10, 338.90 up 63.59, SmallCap: 3,233.20 up 10.19
DJI: 12,992.66 up 94.28, NASDAQ: 2,533.73 up 37.03 S&P500: 1,423.57 up 14.91
US DEPARTMENT OF ENERGY ADMINISTRATION INVENTORY REPORT FOR WEEK ENDING 02/05/08
http://tonto.eia.doe.gov/oog/info/twip/twip.asp
INTERNATIONAL DEVELOPMENTS:
(North Sea Oil)
BG Norge AS has made an oil discovery at the North Sea's production license 292, which officials in Norway say holds up to five million cubic metres of recoverable reserves.
http://www.forbes.com/markets/feeds/afx/2008/05/14/afx5006470.html
(Australia)
Eromanga Hydrocarbons (ERH) soared 12.0c (or 82.8%) to 26.50c, its largest rise of the last twelve months. The rise is the largest in absolute terms since it soared 8.0c (or 29.6%) on August 07, 2007. Compared with the All Ordinaries Index which rose 24.6 points (or 0.4%) on the day, this represented a relative price change of 82.3%.
http://www.buysellsignals.com/BuySellSignals/com/bst/mkt/stockResearch/stockResearch.do?market=Australia&companyid=782
(Cameroon)
Hordes of curious onlookers turned out this Thursday March 15, to watch the inaugural of the new Hydrocarbons Price Stabilization Fund office in ...
http://www.crtv.cm/cont/nouvelles/nouvelles_sol_fra.php?showSection=enviroment&idField=931&table=noticias
(Iran)
Royal Dutch Shell PLC and Repsol-YPF SA have suspended plans to develop Phase 13 of South Pars gas field in Iran as relations between the US and Iran deteriorate and development costs rise.
http://www.ogj.com/display_article/328814/7/ONART/none/DriPr/1/Shell,-Repsol-YPF-drop-Iranian-gas-development-plans/
REGIONAL DEVELOPMENTS:
(Argentina)
MOST leading oilmen have climbed the greasy pole entirely within their industry; their discourse drips with geological jargon or crude statistics. Antonio Brufau, the boss of Repsol, Spain's largest oil company, is different. This doubled the size of the company, which changed its name to Repsol YPF. But three years later the Argentine economy went into free fall. ...
http://www.economist.com/people/displaystory.cfm?story_id=11368023
(Brazil)
Petroleo Brasileiro SA, Brazil's state-controlled oil company, leased about 80 percent of the world's deepest-drilling offshore rigs to explore prospects including the Western Hemisphere's biggest discovery in decades.
http://www.bloomberg.com/apps/news?pid=20601109&sid=aV._LdPUcaNU&refer=home
Petroleo Brasileiro SA, Brazil's state-controlled oil company, plans to start construction of an $8 billion to $10 billion refinery in Sao Luis, Brazil, next year, the country's mines and energy minister said
http://www.bloomberg.com/apps/news?pid=20601086&sid=aC5nUiUmFGtw&refer=news
(Colombia)
AIM-listed oil and gas producer Pan Andean Resources has begun a 2D seismic survey at its 100% owned Antorcha block in Colombia. The move comes as the company eyes the start of a drilling programme at the site by the end of this year.
http://www.smallcapnews.co.uk/article/Pan_Andean_prepares_seismic_survey_ahead_of_drilli/5027.aspx
(Ecuador)
Willbros Group Inc. (Willbros Group), a publicly-traded company that provides construction, engineering and other services in the oil and gas industry, and Willbros International Inc. (Willbros International), the wholly owned subsidiary through which it conducts international operations, have agreed to pay a $22 million criminal penalty in connection with corrupt payments to Nigerian and Ecuadoran government officials in violation of the Foreign Corrupt Practices Act (FCPA), the Department of Justice announced today.
http://www.webwire.com/ViewPressRel.asp?aId=65590
A polymerupdate team member was informed by an industry source based in South America late last evening that state owned Venezuelan company Petroleos de Venezuela or PdVSA will hold a 49 percent stake in the Refineria del Pacifico-CEM, a company to be established by the Venezuelan company with Petroecuador for the construction of a refinery for heavy crude.
Note: This item requires registration
http://www.polymerupdate.com/polymer-petrochemical-news/checkbreak.asp?id=63816&types=brk
(Peru)
The Peruvian government has approved 11 groups or companies in the pre-qualification process for the bidding to take on a modernization project for the state-owned Talara refinery.
http://money.cnn.com/news/newsfeeds/articles/djf500/200805121708DOWJONESDJONLINE000460_FORTUNE5.htm
(Venezuela)
Venezuela's oil company PDVSA plans to be exporting Liquefied Natural Gas (LNG) gas by the end of 2014, PDVSA's Manager, E & P Offshore Joint Ventures and Mariscal Sucre project manager, Ruben Figuera told the audience of The La Jolla Energy conference hosted this week in California by the Institute of the Americas.
http://www.petroleumworld.com/storyt08051502.htm
Venezuela's state oil company PDVSA plans to begin LNG exports from two new trains as part of the Delta Caribe Oriental project by 2014, PDVSA's general manager of offshore joint ventures Rubén Figuera said.
http://www.bnamericas.com/news/oilandgas/PDVSA:_LNG_exports_to_begin_by_2014
LOCAL DEVELOPMENTS:
Falkland Oil and Gas Limited (FOGL), the oil and gas exploration company focused on its extensive license areas to the South and East of the Falkland Islands, held its Annual General Meeting.
http://www.scandoil.com/moxie-bm2/news/company_news/falkland-to-commence-drilling-in-2009.shtml
LOCAL LINKS:
http://www.fogl.com
http://www.desireplc.co.uk
http://www.bordersandsouthern.com
http://www.rockhopperexploration.co.uk.
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