S.Atlantic : Hydrocarbons Daily Record: Thursday, 21 December 2006
Submitted by SARTMA.com (Nathan Prince) 22.12.2006 (Article Archived on 05.01.2007)

Inventories and weather have been the driving forces behind the price of crude thus far this week.

HYDROCARBONS DAILY RECORD: THURSDAY, 21 DECEMBER 2006

By J. Brock (FINN)

CRUDE PRICES:

Monday, 18:  Light Sweet Crude – Down $1.22 to $62.21  and   Brent Crude – Down $1.36 to $62.13

Tuesday, 19:  Light Sweet Crude – Up .94 Cents to $63.15 and  Brent Crude – Up .68 Cents to $62.81

Wednesday, 20:  Light Sweet Crude – Up .33 Cents to $63.80 and  Brent Crude – Up .55Cents to $64.01

Thursday, 21:  Light Sweet Crude – Down $1.06 to $62.66 and  Brent Crude – Down .77 Cents to $62.46

TRENDS

Monday, 18:  Reports of warmer weather in the United States and adequate inventories have outweighed the OPEC decision to cut production.

Tuesday, 19: Anticipated US Inventory Reports and supply of Gasoline in the States have driven the price of crude higher today.

Wednesday, 20:  An unsatisfactory US inventory report has driven the price of crude up today.

Thursday, 21:  Thanks to a forecasted warm spell in the US the price of crude dropped significantly today

MARKETS (Thursday, 21 December 2006)

FTSE 100:  6,183.70 Down 14.89

        250:  11,066.40 UP 18.32

        SMC: 3,854.20 Up 12.29

DJI:  12,421.25 Down -42.62 or -0.34%

NAS:  2,415.85 Down -11.26 or -0.48%

S&P 500:  1,418.30 Down -5.23 or -0.37%

DEVELOPING FACTORS

(Gabon)

Tullow chief executive Aidan Heavey has announced that Tullow Oil has recently acquired a package of assets from the Gabonese government through a 50:50 Joint Venture with AIC-Petrofi Limited.

The deal includes interests in three producing fields and back-in rights to a further nine Exploration Licences. Additionally two fields are awaiting development approval and are expected to produce in the next 18 months.

(Russia)

Deputy Russian Industry and Energy Minister Andrei  Dementyev has announced that Gazprom is to buy Sakhalin-2 stake for cash.  Gazprom will enter the Sakhalin-2  hydrocarbons project and will buy into the project.   Asked how the gas company might enter the project, Dementyev said Russian Industry and Energy Minister Viktor Khristenko was due to meet with Sakhalin-2 shareholders at the end of this week on Thursday or on Friday.

DEVELOPING REGIONAL FACTORS

(Argentina)

Thirty-three technical bids from 11 companies for the E&P concessions of 15 blocks off Argentina’s Santa Cruz province  are to be explored, according to an announcement from Province Government Officials today.  The blocks are named Gran Bajo Oriental, Meseta Ceron Chico, Río Guenguel, Sur Río Deseado, Sierra España, El Tranquilo, Lago Cardiel, Guanaco Muerto, Mata Amarilla, Laguna Grande, Piedra Buena, Paso Fuhr, Tapi Aike, El Turbio and El Turbio Este. According to Santa Cruz's hydrocarbons sub-secretary Daniel Varas Although wells have been drilled on several of the blocks, none have entered into the production phase.

RELEVANT SHARE PRICES

Monday, 18:  DES -1.25 or -3.50% to stand at 34.50, FOGL Unchanged at 84.50, RKH Unchanged at 40.00, BOR Unchanged at 40.00, TLW -1.50 or -0.37% to stand at 403.50

Tuesday, 19:  DES -1.00 or -2.90% to stand at 33.50, FOGL Unchanged at 84.50, RKH Unchanged at 40.00, BOR -2.00 or -5.00 to stand at 38.00, TLW -2.75 or 0.68% to stand at 400.75

Wednesday, 20:  DES +1.50 or 4.48% to stand at 35.00, FOGL -1.00 or 1.18% to stand at 83.50, RKH Unchanged at 40.00, BOR Unchanged at 38.00, TWL -7.75 or 1.93 to stand at 393.00

Thursday, 21:  DES Unchanged at 35.00, FOGL +4.00 or +4.79% to stand at 87.50, RKH Unchanged at 40.00, BOR +1.00 or 2.63% to stand at 39.00, TLW +3.00 or +0.76% to Stand at 396.00