Falklands : Hydrocarbons Daily Record Wednesday, 10 September 2008
Submitted by Falkland Islands News Network (Juanita Brock) 11.09.2008 (Article Archived on 25.09.2008)
Crude prices dropped today despite a drop in crude inventories. This is to be expected as hurricanes in the Gulf of Mexico have postponed deliveries. Gasoline supplies, however, are up from what they were last year at this time when demand was higher.
HYDROCARBONS DAILY RECORD WEDNESDAY, 10 SEPTEMBER 2008
By J. Brock (FINN)
At 1930hrs LMT on Wednesday, 10 September 2008 Light Sweet Crude was trading at $102.58 down 68 Cents on the New York Mercantile Exchange. Brent Crude was trading at $98.97 down $1.37 on London’s ICE Futures Market.
ANALYSIS:
Crude prices dropped today despite a drop in crude inventories. This is to be expected as hurricanes in the Gulf of Mexico have postponed deliveries. Gasoline supplies, however, are up from what they were last year at this time when demand was higher.
The only thing the production cut will do is make it more expensive to keep the hole in the ozone layer open. The rest of us are seeking energy alternatives so we won’t have to rely on so heavily on gasoline and heating fuel.
RELATED ARTICLES:
(OPEC)
THE Organisation of Petroleum Exporting Countries has announced a cut of 520,000 barrels a day, citing downside risks to the market as oil prices fell below $US100 a barrel for the first time since April.
http://business.smh.com.au/business/opec-acts-to-halt-slide-in-prices-20080910-4dt1.html
(Expensive Ozone Removal)
The hole in the ozone layer over Antarctica may be larger this year than in 2007, the United Nations weather agency said on Friday.
http://in.reuters.com/article/worldNews/idINIndia-35239120080829
(Hurricane Ike)
BHP Billiton Ltd., Australia's biggest oil and gas producer, shut the $1.1 billion Neptune oil project in the Gulf of Mexico as Hurricane Ike approaches, about three days after it restarted output following the last storm.
http://www.bloomberg.com/apps/news?pid=20601081&sid=aIedQ9_WNsdA&refer=australia
SHARE PRICES ON THE ALTERNATIVE INVESTMENT MARKET: Wednesday, 10 September 2008
TLW: 733.00 up 3.00, DES: 75.00 down 3.25 , FOGL: 124.50 down 5.00 RKH: 63.50 down 2.25 BOR: 57.00 down 0.25, BPC: 4.63.00 unchanged PRE: 12.00 unchanged GBP: 6.88 unchanged, GPK: 394.00 unchanged, BLT 1385.00 down 20.00, RDSA: 1733.00 down 3.00, RDSB: 1686.00 up 6.00
New York Stock Exchange:
XOM: 75.33 up 2.07 (Trading in USD)
THE MARKETS (10/09/08)
FTSE100: 5,366.20 down 49.41 FTSE250: 8,967.20 down 171.00 SmallCap: 2,831.20 down 14.04
DJI: 11,268.92 up 38.19 NASDAQ: 2,228.70 up 18.89, S&P500: 1,232.04 up 7.53
US DEPARTMENT OF ENERGY ADMINISTRATION INVENTORY REPORT FOR WEEK ENDING 05/09/08.
http://tonto.eia.doe.gov/oog/info/twip/twip.asp
INTERNATIONAL DEVELOPMENTS:
(Ireland)
Microbes that break down oil and petroleum are more diverse than we thought, suggesting hydrocarbons were used as an energy source early in Earth's history, scientists heard at the Society for General Microbiology's Autumn meeting being held this week at Trinity College, Dublin.
http://www.sciencedaily.com/releases/2008/09/080909204546.htm
(United States)
Trace amounts of hydrocarbons have been found for the first time in a livestock water well bordering a natural gas drilling area in southwest Wyoming.
http://www.forbes.com/feeds/ap/2008/09/10/ap5408722.html
REGIONAL DEVELOPMENTS:
(Bolivia)
Bolivia's state energy company YPFB said on Wednesday it had to reduce natural gas exports to neighbouring Brazil by about 10 percent due to pipeline damage caused by anti-government protesters.
http://www.reuters.com/article/marketsNews/idUSN1045610420080910
Leftist President Evo Morales on Wednesday asked the U.S. ambassador to leave Bolivia, blaming him for intensified opposition protests that shut down a key natural gas pipeline to Brazil.
http://www.eleconomista.es/empresas-finanzas/noticias/744458/09/08/Bolivia-asks-US-ambassador-to-leave-as-protests-mount.html
(Colombia)
Chevron Corp. and Repsol YPF SA were among the 32 companies approved by Colombia to bid on 43 oil exploration areas as the country seeks to boost output to a million barrels a day by 2020.
http://www.bloomberg.com/apps/news?pid=20601086&sid=asy0HyNUIunw&refer=latin_america
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.
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