Falklands : Hydrocarbons Daily Record Sunday 11 May 2008
Submitted by Falkland Islands News Network (Juanita Brock) 12.05.2008 (Article Archived on 26.05.2008)
As long as the futures remain a hot commodity the price of crude will go up. People with money need a safe place to put it and these futures are not only safe but give a good return. This isn’t good if the majority of the world’s population cannot afford hydrocarbons products.
HYDROCARBONS DAILY RECORD SUNDAY, 11 MAY 2008
By J. Brock (FINN)
At 1930hrs LMT on Friday, 09 May 2008 Light Sweet Crude was trading at $125.96 down $2.27 on the New York Mercantile Exchange. Brent Crude was trading at $125.40 up 2.56 on London’s ICE Futures Market.
ANALYSIS:
As long as the futures remain a hot commodity the price of crude will go up. People with money need a safe place to put it and these futures are not only safe but give a good return. This isn’t good if the majority of the world’s population cannot afford hydrocarbons products.
RELEVANT ARTICLES:
Oil: Something Has Got To Give
Lionel Laurent, 05.09.08, 1:40 PM ET
Crude oil's rise is seemingly unstoppable, with supply worries triggering a fresh record of $126 per barrel on Friday. Without a major intervention to tackle either one of the two main causes--tight supply or the U.S. dollar's weakness--it does not look like anyone is going to call a top to the price of oil.
http://www.forbes.com/home/2008/05/09/oil-record-opec-markets-equity-cx_ll_0509markets18.html
Oil remains a hot commodity
Kevin Johnston, Special to The Leader-Post: Published: Saturday, May 10, 2008
Bolstered by strong economic development, industrialization and energy demand from Asia and India are the main contributors to higher oil prices.
http://www.canada.com/reginaleaderpost/news/business_agriculture/story.html?id=d55f0a17-b366-4c19-b175-333a96125132
Aziz hints at further hike in fuel prices
We will have to go for price adjustment at some point or the other…it can't go on like this for long," Mirza Aziz said while talking to the reporters at the Zia International Airport. We will have to go for price adjustment at some point or the other…it can't go on like this for long," Mirza Aziz said while talking to the reporters at the Zia International Airport.
http://www.thedailystar.net/story.php?nid=35989
Note: 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
SHARE PRICES ON THE ALTERNATIVE INVESTMENT MARKET: Friday, 09 May 2008.
TLW: 907.00 down 12.00, DES: 89.50 up 4.25, FOGL: 146.00 up 10.00 RKH: 92.00 down 1.50, BOR: 80.50 up 3.50 PRE: 12.00 up125, GBP: 7.6 unchanged, GPK: 400.50 up 11.00, BLT 1975.00 down 22.00, RDSA: 2047.00 down 8.00 RDSB: 2024.00 down 13.00
New York Stock Exchange:
XOM: 88.82 down 0.71 (USD)
THE MARKETS (09/05/08)
FTSE100: 6,204.70 down 66.41, FTSE250: 10, 437.30 down 112.45 SmallCap: 3,199.90
DJI: 12,745.88 down 120.90 NASDAQ: 2,445.52 down 5.72 S&P500: 1,388.28 down 9.40
INTERNATIONAL DEVELOPMENTS:
(Australia)
Victoria Petroleum NL has been advised by Bow Energy Ltd (BOW) that a completion and swab test carried out on Donga-4, located in Surat Basin permit ATP 805P, this week recovered 27.5 barrels of fluid interpreted as mostly completion and drilling fluid with no hydrocarbons. This is despite a small recovery of oil from a test when the well was initially drilled in late 2006
http://www.oilvoice.com/n/Victoria_Petroleum_Reports_Donga4_Swab_Test_Results_Atp_805P_Surat_Basin_Queensland/e73e5fd1.aspx
(China and Venezuela)
Venezuela agreed with China, the world's fastest-growing major economy, to form a joint venture that will produce oil in Venezuela's Orinoco Belt to supply a new 400,000 barrel-a-day refinery they will build in China, AP reported.
http://www.menafn.com/qn_news_story_s.asp?StoryId=1093196234
(United Kingdom)
A fire extinguished at Ineos Group Holdings Plc's 200,000 barrel-a-day Grangemouth oil refinery in Scotland may “slightly'' delay the plant's recovery from a strike last month, according to a spokesman for its owner
http://www.bloomberg.com/apps/news?pid=20601085&sid=ax3Kz678hI7Y&refer=europe
(United States)
FX Energy, Inc. (NASDAQ: FXEN) announced today that a conference call to discuss the Company's first quarter 2008 financial and operating results will be held at 4:30 p.m. Eastern on Monday, May 12, 2008. The call will be hosted by David Pierce, FX Energy's president and CEO, and Clay Newton, VP of Finance. The call will also include a discussion of the Company's current operations. Financial and operating results will be released on May 12, 2008, prior to the call.
http://www.foxbusiness.com/story/markets/industries/energy/fx-energy-release-quarter-results-hold-conference/
REGIONAL DEVELOPMENTS:
(Latin America General)
Ministers suggested the creation of a regional mechanism to settle investment disputes -viewed as an alternative to the International Center for Settlement of Investment Disputes (Icsid)
http://english.eluniversal.com/2008/05/09/en_eco_art_oil-reserves-hit-130_09A1567199.shtml
(Argentina and Venezuela)
The governments of Venezuela and Argentina have signed an accord to set up a joint natural gas liquefaction and transportation enterprise in Guiria, a city in Venezuela's eastern state of Sucre, Venezuela's state oil enterprise PDVSA said Friday, the Xinhua news agency reported.
http://capital.trendaz.com/index.shtml?show=news&newsid=1196285&lang=EN
(Brazil)
Next year Petrobras will start etracting oil from Tupi, off the Brazilian coasts, a field that is estimated to nest 8 Billion barrels of crude.
http://capital.trendaz.com/index.shtml?show=news&newsid=1196285&lang=EN
Brazil plans to become a major oil exporter and wants to join OPEC, the country's President Luiz Inacio Lula da Silva told German magazine Der Spiegel published online Friday.
http://www.iranoilgas.com/news/details2/?type=news&p=current&newsID=2025&restrict=no
(Colombia and Venezuela)
Venezuelan President Hugo Chavez, in an apparent attempt at extending an olive branch to Colombia, suggested that its state-owned Ecopetrol SA should become a partner in the Orinoco oil region.
http://www.ogj.com/display_article/328376/7/ONART/none/DriPr/1/Venezuela-invites-Colombia-to-partner-in-Orinoco/
(Colombia)
Since its 2007 Initial Public Offering (IPO) last year, Colombia’s state-owned company Ecopetrol has enjoyed healthy financial results thanks to high oil ...
http://www.as-coa.org/article.php?id=1050
(Ecuador)
The Inter-American Development Bank will lend Ecuador around $1.2 billion between this year and 2011 to improve the country's infrastructure and crucial oil sector, the bank's chief said on Friday.
http://www.reuters.com/article/oilRpt/idUSN0951879220080509
(Peru)
The joint bunker venture between supplier Naviera Miraflores SAC and local refiner Petroperu got underway last month, giving a new bunker option to buyers ...
http://www.bunkerworld.com/news/2008/05/71611
LOCAL LINKS:
http://www.fogl.com
http://www.desireplc.co.uk
http://www.bordersandsouthern.com
http://www.rockhopperexploration.co.uk.
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