Falklands : Hydrocarbons Daily Record Sunday, 24 August 2008
Submitted by Falkland Islands News Network (Juanita Brock) 25.08.2008 (Article Archived on 08.09.2008)
Crude prices declined sharply on Friday on a stronger US Dollar. Declining crude prices also help share prices to increase and are a factor in improving the economy. Prices at the pump are beginning to fall and it is hoped that heating fuel will also decline before the northern winter sets in.
HYDROCARBONS DAILY RECORD SUNDAY, 24 AUGUST 2008
By J. Brock (FINN)
At 1930hrs LMT on Friday, 22 August 2008 Light Sweet Crude was trading at $114.59 down $6.59 on the New York Mercantile Exchange. Brent Crude was trading at $113.92 down $6.24 on London’s ICE Futures Market.
ANALYSIS:
Crude prices declined sharply on Friday on a stronger US Dollar. Declining crude prices also help share prices to increase and are a factor in improving the economy. Prices at the pump are beginning to fall and it is hoped that heating fuel will also decline before the northern winter sets in.
The idea that crude prices were jacked up to save the environment doesn’t wash. However, what rings true is that there needs to be research into how to make hydrocarbons products burn cleaner and more efficiently. It would be better if vehicles make efficient use of gasoline or diesel than to go back to those that ate up fuel like there was no tomorrow. Vehicles modified to use hydrogen or propane instead of gasoline are preferred due to energy efficiency and minimal pollutant levels.
As for heating and electrical power, wind, wave and solar power have proven themselves. In conjunction with proper insulation, homes can stay warm throughout the winter with minimal fuel usage.
RELATED ARTICLE:
(Crude and the Economy)
Wall Street capped a volatile week with sharp gains Friday as oil prices tumbled and after Federal Reserve Chairman Ben Bernanke said inflation pressures are likely to moderate. The Dow Jones industrial average rose nearly 200 points.
http://www.buffalonews.com/145/story/421395.html
SHARE PRICES ON THE ALTERNATIVE INVESTMENT MARKET: Friday, 22 August 2008.
TLW: 796.50 down 3.00, DES: 82.00 up 0.75, FOGL: 125.00 down 0.25 RKH: 66.00 unchanged, BOR: 62.50 up 0.50 PRE: 11.50 down 0.25 GBP: 7.13 unchanged GPK: 419.00 unchanged, BLT 1698.00 up 28.00, RDSA: 1890.00 up 40.00, RDSB: 1862.00 up 42.00
New York Stock Exchange:
XOM: 80.23 down 12.00 (Trading in USD)
THE MARKETS (22/08/08)
FTSE100: 5,505.60 up 135.41 FTSE250: 9,182.70 up 243.61 SmallCap: 2,800.00 up 25.68
DJI: 11,628.06 up 197.85 NASDAQ: 2,414.71 up 34.33 S&P500: 1,292.19 up 14.47
US DEPARTMENT OF ENERGY ADMINISTRATION INVENTORY REPORT FOR WEEK ENDING 15/08/08
http://tonto.eia.doe.gov/oog/info/twip/twip.asp
INTERNATIONAL DEVELOPMENTS:
(Iran)
Iran is in talks with two major Asian oil companies regarding the development of the South Caspian Sea region, the National Iranian Oil Company (NIOC) said.
http://english.farsnews.com/newstext.php?nn=8706021218
(Norway)
The well was tested in a prospect called Arenaria in block 7224/6. The primary goal was to prove hydrocarbons in sandstone of early Jurassic to late Triassic age. The secondary goal was to prove hydrocarbons in rocks of the middle Triassic age.
http://www.norwaypost.no/cgi-bin/norwaypost/imaker?id=186258
(Pakistan and Argentina)
Argentina is an old friend of Pakistan and the former is keen to further boost and strengthen its bilateral relations including trade for the mutual benefit of the people of the two countries.
http://dailymailnews.com/200808/22/news/dmcitypage08.html
(Saudi Arabia)
Royal Dutch Shell (RDSa.L: Quote, Profile, Research) said a joint venture with state-owned Saudi Aramco had discovered a hydrocarbons system at the kingdom's Empty Quarter, Middle East Economic Digest (MEED) reported.
http://uk.reuters.com/article/oilRpt/idUKLN18783820080823
REGIONAL DEVELOPMENTS:
(Bolivia)
President Evo Morales said he has put all of Bolivia's gas and oil installations under military protection, as protesters geared up in three energy-rich provinces against federal encroachment and socialist reforms.
http://afp.google.com/article/ALeqM5j-FHjlfT2Zl3cdYjiSKxSn4bmeyw
(Brazil)
Petrobras being a world leader in deep-water drilling claims to produce oil with minimal envoronmental impact. Now, this will reduce the environmental risk in the Gulf Of Mexico by deployment of drilling ships that can be detached from wells in case hurricane occurs.
http://www.itvoir.com/portal/boxx/modules/blogs/Blog-Detail.asp?BlogID=2903
(Chile)
Enap Sipetrol, the international arm of Chile's state oil company Enap, is mobilizing a new offshore drilling platform to Argentina, an Enap Sipetrol Argentina spokesperson told BNamericas, elaborating on a company statement.
http://www.energycurrent.com/index.php?id=2&storyid=12640
(Venezuela)
Venezuela has approved $950 million in additional investment in the country's petrochemicals industry to boost output, President Hugo Chavez said.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aVI5pcsDxNUk&refer=home
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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