Falklands : Hydrocarbons Daily Record Thursday, 07 August 2008
Submitted by Falkland Islands News Network (Juanita Brock) 08.08.2008 (Article Archived on 22.08.2008)
An explosion in Turkey that shut down the Azerbaijan pipeline has caused the price of crude to increase today.
HYDROCARBONS DAILY RECORD THURSDAY, 07 AUGUST 2008
By J. Brock (FINN)
At 1930hrs LMT on Thursday, 07 August 2008 Light Sweet Crude was trading at $120.02 up $1.44 down 59 Cents on the New York Mercantile Exchange. Brent Crude was trading at $117.86 up 86 Cents on London’s ICE Futures Market.
ANALYSIS:
An explosion in Turkey that shut down the Azerbaijan pipeline has caused the price of crude to increase today. Though there are supply concerns they are minimal with plenty of reserves due to decreasing demand.
Oil majors and the big auto makers have been developing alternative energy engines and vehicles for some time now. They have experimented with hydrogen vehicles. Mobil has a relevant project that converts hydrocarbons to hydrogen in an engine that shows promise. There is sufficient supply of hydrocarbons but the trend today is to make the products work as efficiently as possible.
RELATED ARTICLE:
(Eco-Development)
Mobil is developing an under-the-bonnet system that converts conventional hydrocarbons, such as petrol or diesel, into hydrogen within the engine
http://www.carbonnews.co.nz/story.asp?storyID=1640
SHARE PRICES ON THE ALTERNATIVE INVESTMENT MARKET: Thursday, 07 August 2008.
TLW: 741.00 up 8.00, DES: 79.75 up 0.25, FOGL: 115.00 down 5.00 RKH: 64.50 down 2.25, BOR: 65.25 down 2.75 PRE: 12.25 up 1.00 GBP: 7.13 unchanged, GPK: 419.00 unchanged, BLT 1550.00 unchanged, RDSA: 1785.00 up 8.00, RDSB: 1749.00 up 6.00
New York Stock Exchange:
XOM: 77.44 down 0.89 (Trading in USD)
THE MARKETS (07/08/08)
FTSE100: 5,477.50 down 8.63 FTSE250: 9,088.70 down 42.78 SmallCap: 2,799.30 down 3.65
DJI: 11,431.43 down 224.64 NASDAQ: 2,355.73 down 22.64 S&P500: 1,266.06 down 23.13
US DEPARTMENT OF ENERGY ADMINISTRATION INVENTORY REPORT FOR WEEK ENDING 01/08/08
http://tonto.eia.doe.gov/oog/info/twip/twip.asp
INTERNATIONAL DEVELOPMENTS:
(Nanibia)
Sintezeneftegaz Namibia Ltd. has completed drilling the Kunene No. 1 well on Block 1711 in the offshore Namibe Basin.
http://www.energycurrent.com/index.php?id=2&storyid=12294
(Norway)
StatoilHydro has completed the drilling of a well in the Hauk prospect in the Norwegian Sea. The well was dry.
http://www.youroilandgasnews.com/news_item.php?newsID=8805
REGIONAL NEWS:
(Brazil)
Petrobras announces that the consortium formed by Petrobras (65% - Operator), the BG Group (25%), and Galp Energia (10%), to explore block BM-S-11, in ultradeep Santos Basin waters, proved the existence of yet another light oil field, with specific gravity around 30o API, in the pre-salt reservoirs.
http://www.oilvoice.com/n/Petrobras_Announces_New_Oil_Accumulation_Discovered
_in_the_PreSalt_Layer_in_the_Santos_Basin/5cb48445.aspx
US oil company El Paso (NYSE: EP) expects natural gas production to start in the first quarter next year at its Camarupim offshore field in Brazil's Espírito Santo basin. "The Camarupim project is ...
http://www.bnamericas.com/sector_home.jsp?sector=9&idioma=I¬icia=445190
(Ecuador)
City Oriente, an oil company controlled by U.S. investors, ended its drilling and exploration contract with Ecuador's government 13 years early on Friday, transferring operations to a subsidiary of state-owned oil company Petroecuador.
http://www.forbes.com/feeds/ap/2008/08/07/ap5301461.html
(Venezuela)
The defeat of President Hugo Chavez in the referendum last December marks an important turning point in the Bolivarian process, which began more than ten years ago.
http://www.venezuelanalysis.com/analysis/3700
Venezuelan President Hugo Chavez, as part of a wider set of reforms for his country, has decreed changes to the statutes of state-owned Petroleos de Venezuela SA (PDVSA).
http://www.ogj.com/display_article/336498/7/ONART/none/GenIn/1/Chavas-further-expands-PDVSA's-role-in-economy/
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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