Falklands : Hydrocarbons Daily Record Sunday, 20 July 2008
Submitted by Falkland Islands News Network (Juanita Brock) 21.07.2008 (Article Archived on 04.08.2008)
Crude prices declined today due to a good supply of hydrocarbons products and lessening demand. It seems, though that losses are bottoming out and we must steel ourselves to see prices rise. It’s a disappointment because we need to see sustained losses until we reach $45 to $60.00 per barrel. Otherwise hydrocarbons products will remain at an artificially high cost for all of us.
HYDROCARBONS DAILY RECORD SUNDAY, 20 JULY 2008
By J. Brock (FINN)
At 1930hrs LMT on Friday, 18 July 2008 Light Sweet Crude was trading at $128.88 down 41 Cents on the New York Mercantile Exchange. Brent Crude was trading at $130.19 down 88 Cents on London’s ICE Futures Market.
ANALYSIS:
Crude prices declined today due to a good supply of hydrocarbons products and lessening demand. It seems, though that losses are bottoming out and we must steel ourselves to see prices rise. It’s a disappointment because we need to see sustained losses until we reach $45 to $60.00 per barrel. Otherwise hydrocarbons products will remain at an artificially high cost for all of us.
Geopolitics concerning Iran and Nigeria will be used by traders to try and increase the price of crude and they will try and refute claims of falling demand and increasing supply. People who buy in crude need to steadily and firmly say NO if the prices offered are too high.
RELATED ARTICLES:
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Oil prices rose in Asia on Friday after three days of heavy falls that pulled prices down almost 16 dollars on worries over economic growth and slowing demand, dealers said.
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Oil and natural gas companies on Sunday said they were monitoring the progress of Tropical Storm Dolly, the first storm of the 2008 Atlantic hurricane season to menace Gulf of Mexico production areas.
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SHARE PRICES ON THE ALTERNATIVE INVESTMENT MARKET: Friday, 18 July 2008.
TLW: 783.50 down 10.00, DES: 77.25 up 8.50, FOGL: 111.00 up 1.50 RKH: 66.00 up 1.00, BOR: 70.00 down 6.50 PRE: 12.50 unchanged GBP: 7.25.00 down 0.13, GPK: 419.00 up 21.50, BLT 1600 down 30.00 RDSA: 1820.00 down 4.00, RDSB: 1795.00 down 4.00
New York Stock Exchange:
XOM: 81.30 up 0.97 (Trading in USD)
THE MARKETS (18/07/08)
FTSE100: 5,376.40 up 90.13 FTSE250: 8,964.70 up 244.96 SmallCap: 2,676.20 up 26.46
DJI: 11,496.57 up 49.51 NASDAQ: 2,282.78 down 29.52 S&P500: 1,260.68 up 0.36
US DEPARTMENT OF ENERGY ADMINISTRATION INVENTORY REPORT FOR WEEK ENDING 11/07/08
http://tonto.eia.doe.gov/oog/info/twip/twip.asp
INTERNATIONAL DEVELOPMENTS:
(Drillship and Rig Market)
The worldwide offshore rig fleet grew by two this week with the delivery of a newbuild drillship and jackup, while the number of rigs under contract worldwide rose by one, according to ODS-Petrodata's Weekly Mobile Offshore Rig Count. With 625 out of 693 available rigs under contract, utilization is 90.2 percent.
http://www.energycurrent.com/index.php?id=2&storyid=11948
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HOUSTON, Jul 18, 2008 (BUSINESS WIRE) -- Schlumberger Limited (SLB:
Schlumberger Limited SLB 100.54, +3.76, +3.9%) today reported second-quarter revenue of $6.75 billion versus $6.29 billion in the first quarter of 2008, and $5.64 billion in the second quarter of 2007.
http://www.marketwatch.com/news/story/schlumberger-announces-second-quarter-2008-results/story.aspx?guid=%7BA32955EA-EC52-4347-A9CD-2E9B0A6AA6A4%7D&dist=hppr
(Scientific Developments)
Breaking down those COC bonds is key to unlocking the smaller hydrocarbons, which can then be further treated to produce alkanes and alcohol. ...
Note: This item requires Subscription
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(Australia)
ONE company's gas pipeline explosion has turned into another's sales bonanza, with Woodside Petroleum cashing in on stronger gas prices in the West Australian domestic market following the Varanus Island blowout and fire.
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(United States)
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REGIONAL DEVELOPMENTS:
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Petroandina—a company formed in August 2007 by Bolivia's state-owned Yacimientos Petroliferos Fiscales Bolivianos (YPFB) 60% and Venezuela's state-owned Petroleos de Venezuela SA (PDVSA) 40%—plans to invest $883 million to finance oil and natural gas exploration and production in Bolivia.
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(Colombia)
The Colombian oil licensing agency ANH granted rights to seek oil in eight areas in South-eastern Colombia, it said Thursday.
http://www.petroleumworld.com/story08071816.htm
(Ecuador)
Ecuadorian oil production will increase 1,529 b/d following the successful drilling by the Venezuelan state oil company Petróleos de Venezuela (Pdvsa) of Guanta 18, Guanta 19 and Lago 40 oil wells located in the Amazonian province of Sucumbíos, 112 miles northeast of Quito, the capital of Ecuador.
http://english.eluniversal.com/2008/07/17/en_eco_art_venezuelan-drill-sta_17A1806721.shtml
(Peru)
Royal Dutch Shell Plc and BPZ Resources Inc. may spend $300 million to jointly explore for oil and gas off Peru's north coast, BPZ's Chief Executive Officer Manuel Zuniga said today.
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LOCAL DEVELOPMENTS:
(Rockhopper Exploration)
Four years ago Sam Moody swapped his job as an investment manager in London to start a new life with his family in the Wiltshire countryside. But it wasn’t long before his City expertise was being called upon again – this time to lead an oil and gas venture 8,000 miles away in the South Atlantic Ocean.
http://www.smallcapnews.co.uk/article/Rock_star_Rockhopper_Exploration_plc/5359.aspx
LOCAL LINKS:
http://www.fogl.com
http://www.desireplc.co.uk
http://www.bordersandsouthern.com
http://www.rockhopperexploration.co.uk.
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