Falklands : Hydrocarbons Daily Record Wednesday, 05 November 2008
Submitted by Falkland Islands News Network (Juanita Brock) 06.11.2008 (Article Archived on 20.11.2008)
On-going economic concerns have helped crude prices to decline today. Supplies of hydrocarbons products remain roughly the same as it was last week but this could or could not be the only indicator reflecting demand. Other indicators include price and people’s ability to pay that price.
HYDROCARBONS DAILY RECORD WEDNESDAY, 05 NOVEMBER 2008
By J. Brock (FINN)
At 1930hrs LMT on Wednesday, 05 November 2008 Light Sweet Crude was trading at $65.30 down $5.23 on the New York Mercantile Exchange. Brent Crude was trading at $61.87 down $4.57 on London’s ICE Futures Market.
US DEPARTMENT OF ENERGY ADMINISTRATION INVENTORY REPORT FOR WEEK ENDING 31/10/08.
http://tonto.eia.doe.gov/oog/info/twip/twip.asp
ANALYSIS:
On-going economic concerns have helped crude prices to decline today. Supplies of hydrocarbons products remain roughly the same as it was last week but this could or could not be the only indicator reflecting demand. Other indicators include price and people’s ability to pay that price.
Research and development are key if hydrocarbons are to be used wisely and efficiently. There are new trends using naturally occurring substances that might help with this.
It’s important that alternatives are aggressively sought so that technology and resulting savings can be taken advantage of in low to middle income areas of the population.
RELATED ARTICLES:
(Crude Prices)
Oil prices resumed their downward spiral Wednesday as ongoing economic concerns affected fuel demand, and a report showed that U.S. crude stockpiles were unchanged
http://money.cnn.com/2008/11/05/markets/oil/?postversion=2008110514
(Research and Development)
US experts have reportedly discovered a type of fungus capable of producing natural gas. Specialists from the University of Montana observed that in laboratory conditions under low levels of oxygen, examples of Gliocladium roseum can produce many of the components that make up diesel.
http://www.periodico26.cu/english/offbeat/fungus110508.html
(Falling Gasoline Prices)
Amidst falling stock prices, soaring unemployment, tight credit markets and higher prices for food and necessities, there is one bright spot -- the lowest gasoline prices in a year and a half.
http://www.times-herald.com/local/Gasoline-prices-show-relief-576582
AIM: 05/11/08
TLW: 556.00 down 14.00, DES: 36.75 down 6.00, FOGL: 86.00 down 4.00 RKH: 31.00 down 1.50 BOR: 31.00 up 1.50, BPC: 3.00 unchanged, PRE: 10.25 up 1.50 GBP: 5.50 up 0.25, GPK: 285.00 down 5.00, BLT 1140.00 down 18.00 RDSA: 1771.00 down 92.00, RDSB: 1772.00 down 78.00
FKL: 270.00 down 2.50 GCLA: 3.53 up 0.03 (Trading in USD), STAN: 1031.00 down 35.00 CW: 135.30 up 1.50 CAY: 188.00 unchanged
NYSE: 05/11/08
XOM: 73.69 down 3.80 (Trading in USD)
THE MARKETS: 05/11/08
FTSE100: 4,530.73 down 108.77, FTSE250: 6,757.46 down 21.24, SmallCap: 2,028.21 down 0.02
DJI: 9,139.27 down 486.01, NASDAQ: 1,681.64 down 98.48, S&P500: 952.77 down 52.98
INTERNATIONAL DEVELOPMENTS:
(Australia)
BHP Billiton Ltd, Australia's biggest oil and gas producer, said it has "outstanding" opportunities for growth in Australia, with five "major" petroleum projects under assessment for future investment.
http://www.gulfnews.com/business/Oil_and_Gas/10254898.html
(India and Russia)
The Minister of Petroleum & Natural Gas Shri Murli Deora met Mr. Vladimir Putin, Prime Minister of Russia, today at Moscow and emphasized that India seeks to enhance growing synergy between India and Russia in the oil and gas sector on a long term basis. The minister pointed out India’s interest in participating in Sakalin-3 project.
http://pib.nic.in/release/release.asp?relid=44552
(North Sea Oil)
French oil major Total SA beat analysts' forecasts with a 35 percent jump in third-quarter underlying profit, as high oil prices and strong refining margins made up for a drop in crude and gas production.
http://www.forbes.com/afxnewslimited/feeds/afx/2008/11/05/afx5651272.html
Bow Valley Energy Ltd. (Bow Valley or the Company) announces that subsequent to first production from the Chestnut field on September 22, 2008, the partnership group (Bow Valley 15.125% interest) has successfully drilled, completed and tested an appraisal well which extends the previously mapped field area.
http://www.istockanalyst.com/article/viewiStockNews+articleid_2769754.html
Tough times?VENEZUELA: Falling oil price points to tough times The impact of declining oil prices in Venezuela. The dramatic fall in the price of oil puts pressure on both the government and state oil company, PDVSA
(Note: This item is very brief)
http://www.alacrastore.com/storecontent/oxford/DB146586
(Spain)
Repsol and Irving Oil Ltd. are partners in the Canaport LNG project, a receiving and regasification facility that is being constructed in Saint John. It is the first land-based LNG receiving facility on the North American Atlantic Coast in over 30 years
http://nbbusinessjournal.canadaeast.com/journal/article/471075
(United States)
Atlas Oil and Gas, Inc. (OTCBB: ATOG)announced the results today from its second well in its 8 well projectlocated near the Arkansas River in Pawnee County, Oklahoma. The first wellthat was put into production earlier this week had an initial rate of about20 barrels of oil per day (BOPD) from a shallow zone at 1550'.
http://www.ibtimes.com/prnews/20081105/atlas-oil-and-gas.htm
REGIONAL DEVELOPMENTS:
(Brazil)
Petrobras exported a record 574,000 barrels a day of oil in October, mostly to the United States and China. With new fields under development, planned investments and refinery projects, Analyst Global Insight said Brazil's oil exports will continue to increase "in the coming years.
http://www.smartbrief.com/news/api/storyDetails.jsp?issueid=736A9780-CE98-48CF-9B84-D272AACF594D©id=3AA40BB2-20DA-41F4-90D1-12B8A634E5A0
LOCAL DEVELOPMENTS:
Local opinion is that crude prices are not going to affect the exploration effort in the Falklands. HDR feels that it could help in that there will not be such a drain on exploratory rigs and/or drill-ships. In 1997/98 exploration was carried out at $13.00 per barrel and at the time it was said that an optimal price would be $14.00 to $16.00 per barrel. We’ve come a long way since then but feel that it’s a good deal to do exploration around the Falklands with crude as low as $40.00 per barrel.
(Rockhopper and FOGL)
The price of oil has now more than halved since July, taking many oil shares down with it - and down too far, in the eyes of many. The biggest risers list produced by our latest movers and shakers investigation is awash with oil companies, led by Rockhopper Exploration and Empyrean Energy, both of which have seen their share prices more than double in the past five trading sessions. Also among the risers were Borders & Southern, Desire Petroleum, Nighthawk Energy, Bowleven and Falkland Oil & Gas, with rises of between 55 per cent and 31 per cent.
http://www.investorschronicle.co.uk/Columnists/GuestColumnists/article/20081104/e3f225c4-aa65-11dd-8c7b-00144f2af8e8/Investors-pile-into-small-oils.jsp
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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