Falklands : Hydrocarbons Daily Record Monday, 18 August 2008
Submitted by Falkland Islands News Network (Juanita Brock) 19.08.2008 (Article Archived on 02.09.2008)
Crude prices eased today when Hurricane Fay’s path caused no threat to industry infrastructure in the Gulf of Mexico. There is also the pending opening of the Tblisi-Baku-Ceythan pipeline after repairs.
HYDROCARBONS DAILY RECORD MONDAY, 18 AUGUST 2008
By J. Brock (FINN)
At 1930hrs LMT on Monday, 18 August 2008 Light Sweet Crude was trading at $112.87 down 90 Cents on the New York Mercantile Exchange. Brent Crude was trading at $111.94 down 61 Cents on London’s ICE Futures Market.
ANALYSIS:
Crude prices eased today when Hurricane Fay’s path caused no threat to industry infrastructure in the Gulf of Mexico. There is also the pending opening of the Tblisi-Baku-Ceythan pipeline after repairs.
Hydrocarbons products still remain at extortionate prices as high costs of purchasing over-priced crude are passed on to customers who buy the end product. It will be some time before crude bought at lower prices is processed. Naturally this affects demand and it is expected to remain lower due to more people being out of work and/or having to pay very high prices for food as well as for heating fuel and gasoline, etc.
HDR understands the forces behind pressure to cut production and feels that an appropriate cut should correlate with demand. It is also felt that the wise use of hydrocarbons products could help people to seek alternatives like wind generation and solar and wave power. Obviously using price hikes for environmental reasons doesn’t wash due to the economic problems the recent spate of hikes has caused.
RELATED ARTICLES:
(Hurricane Fay)
Crude oil prices fell Monday as Tropical Storm Fay looked set to spare energy facilities in the Gulf of Mexico and as the Baku-Tbilisi-Ceyhan pipeline appeared ready to reopen soon.
http://afp.google.com/article/ALeqM5jA79mIsgwTHPRKnn30_NUWI70aRw
SHARE PRICES ON THE ALTERNATIVE INVESTMENT MARKET: Monday, 18 August 2008.
TLW: 702.00 up 25.00, DES: 75.00 down 4.75, FOGL: 123.00 up 4.00 RKH: 64.75 down 1.25, BOR: 57.00 down 2.50 PRE: 12.00 unchanged GBP: 7.25.00 unchanged, GPK: 419.00 unchanged, BLT 1537.00 up 8.00, RDSA: 1822.00 up 25.00, RDSB: 1784.00 up 21.00
New York Stock Exchange:
XOM: 76.47 down 0.60 (Trading in USD)
THE MARKETS (18/08/08)
FTSE100: 5,450.20 down 4.57 FTSE250: 9,124.00 down 70.85 SmallCap: 2,818.60 down 15.31
DJI: 11,479.39 down 180.51 NASDAQ: 2,416.98 down 35.54 S&P500: 1,278.63 down 19.57
US DEPARTMENT OF ENERGY ADMINISTRATION INVENTORY REPORT FOR WEEK ENDING 08/08/08
http://tonto.eia.doe.gov/oog/info/twip/twip.asp
DEVELOPMENTS IN OUTER SPACE:
(Titan)
Liquid ethane found on Titan; NASA looks for a new company to make its next-gen spacesuit
http://www.dailytech.com/International+Space+Updates+January+2008/article12690c.htm
INTERNATIONAL DEVELOPMENTS:
(Barents Sea)
Electromagnetic Geoservices (EMGS) has completed the world's largest multi-client electromagnetic (EM) survey in the Barents Sea, ahead of Norway's 20th exploration licensing round.
http://www.oilonline.com/news/headlines/internet/20080818.EMGS_com.23653.asp
(Canada and the United States)
The United States and Canada have teamed up for a seismic survey of the of the Beaufort seabed in the northern areas of the Yukon-Alaska border in an attempt to curb Russia's aggressive Arctic claims
http://www.allheadlinenews.com/articles/7011980504
REGIONAL DEVELOPMENTS:
(Brazil)
During the presentation of 2Q08 financial and operating results made to the members of the Capital Market Investment Analyst and Professional Association (ABIMEC), Petrobras’ CFO, Almir Barbassa, announced the company intends to put new offshore drilling rigs into operation and to close 2017 with 63 units in use in deep and ultradeep waters. This is nearly double the amount of drilling rigs currently in operation.
http://www.euro-petrole.com/ne_03_actualite_i_details.php?idNews=2591
(Peru)
Protesting a law passed by President Alan Garcia as a part of Peru's free trade deal with the United States, indigenous groups are holding a police captain hostage.
http://www.livinginperu.com/news/7170
LOCAL DEVELOPMENTS:
(BPC – FGML)
A Jersey-based company founded to explore for oil and gas off The Bahamas has so far identified 22 leads large enough potentially to contain “commercially exploitable volumes of hydrocarbons,” according to company information.
http://www.jonesbahamas.com/?c=47&a=18046
(Tullow)
BUYINS.NET, www.buyins.net, announced today that these select companies have been added to the NASDAQ, AMEX and NYSE naked short threshold list: FNX Mining Company Inc. (OTC: FNXMF), Tullow Oil Plc (OTC: TUWLY). For a complete list of companies on the naked short list please visit our web site. To find the SqueezeTrigger Price before a short squeeze starts in any stock, go to www.buyins.net
http://www.tradingmarkets.com/.site/news/Stock%20News/1830827/
(BHP Billiton)
Profits at BHP Billiton, the world's biggest miner, shot up by 22pc this year after record production of commodities driven by demand in China and India.
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/08/18/bcnbhp118.xml
This statement includes the combined results of the BHP Billiton Group,
comprising BHP Billiton Limited and BHP Billiton Plc, for the year ended 30 June
2008 compared with the year ended 30 June 2007.
http://newsstore.smh.com.au/apps/previewDocument.ac?docID=GCA00870390BHP
LOCAL LINKS:
http://www.fogl.com
http://www.desireplc.co.uk
http://www.bordersandsouthern.com
http://www.rockhopperexploration.co.uk.
IMPORTANT LINK:
http://www.onegeology.org/
DISCLAIMER: 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.
|
