Falklands : Hydrocarbons Daily Record Thursday, 28 August 2008
Submitted by Falkland Islands News Network (Juanita Brock) 29.08.2008 (Article Archived on 12.09.2008)
Crude prices declined significantly today as speculation that Hurricane Gustav would not affect severely the infrastructure in the Gulf of Mexico was ripe. However, in 24 hours things could change. We wait and see.
HYDROCARBONS DAILY RECORD THURSDAY, 28 AUGUST 2008
By J. Brock (FINN)
At 1930hrs LMT on Thursday, 28 August 2008 Light Sweet Crude was trading at $118.15 up $1.88 on the New York Mercantile Exchange. Brent Crude was trading at $116.22 up $1.59 on London’s ICE Futures Market.
ANALYSIS:
Crude prices declined significantly today as speculation that Hurricane Gustav would not affect severely the infrastructure in the Gulf of Mexico was ripe. However, in 24 hours things could change. We wait and see.
The longer crude prices remain high, the more people will seek alternatives to energy generation. Demand for hydrocarbons products will correspondingly remain lower as prices remain higher. The end products are still greatly needed but far beyond the means of more people nowadays.
With the Northern Winter approaching governments will be forced to subsidise fuel expenditure for households on insufficient incomes.
RELATED ARTICLES:
(Gustav)
Oil prices reversed course and fell sharply Thursday as traders discounted the impact of Tropical Storm Gustav as it churned toward the Gulf of Mexico's energy installations.
http://afp.google.com/article/ALeqM5iFHJ6iUqlqrn4fty-LA9iBwUIhdw
(Alternative Energy)
Green energy initiatives are striving to replace fossil fuels with renewable resources like hydrogen and photosynthesis
http://www.eetindia.co.in/ART_8800541644_1800008_NT_058742b6.HTM
SHARE PRICES ON THE ALTERNATIVE INVESTMENT MARKET: Thursday, 28 August 2008
TLW: 812.50 down 4.50, DES: 79.75 up 0.75, FOGL: 125.00 down 1.50 RKH: 67.25 unchanged, BOR: 57.50 down 2.75 PRE: 11.25 unchanged GBP: 7.13 unchanged GPK: 419.00 unchanged, BLT 1712.00 up 14.00, RDSA: 1909.00 up 2.00, RDSB: 1878.00 down 2.00
New York Stock Exchange:
XOM: 81.18 up 0.71 (Trading in USD)
THE MARKETS (28/08/08)
FTSE100: 5,601.20 up 73.05 FTSE250: 9,271.70 up 134.61 SmallCap: 2,826.50 up 28.18
DJI: 11,715.18 up 212.67 NASDAQ: 2,411.64 up 29.18 S&P500: 1,300.68 up 19.02
US DEPARTMENT OF ENERGY ADMINISTRATION INVENTORY REPORT FOR WEEK ENDING 22/08/08
http://tonto.eia.doe.gov/oog/info/twip/twip.asp
INTERNATIONAL DEVELOPMENTS:
(Arctic)
The American reaction, relayed to Canwest News Service through the U.S. Embassy in Ottawa, suggests the U.S. - which considers the Northwest Passage an "international strait" rather than "internal Canadian waters," as Canada sees it - may have concerns about the Conservative government's plan to impose mandatory registering of foreign vessels in the Arctic.
http://www.canada.com/topics/news/world/story.html?id=ddf03f21-1628-4659-aeda-52dfe3635085
(North Sea Oil)
Mike Wagstaff, chief executive of Venture Production, said the North Sea-focused oil and gas firm was hungry to buy more assets in the mature province after achieving record profits in the first half.
http://www.theherald.co.uk/business/news/display.var.2435672.0.Venture_hungry_for_more_
North_Sea_assets.php
REGIONAL DEVELOPMENTS:
(Argentina)
Argentine state energy company Enarsa, Chilean state oil company Enap's Siepetrol international branch and Argentine oil major YPF will invest US$150mn in exploration off Argentina's southern cost, an...
http://www.bnamericas.com/sector_home.jsp?sector=9&idioma=I¬icia=447806
Companies from Argentina, Chile and Spain will explore Argentine waters for oil, a government minister said late Wednesday.
http://www.easybourse.com/bourse-actualite/marches/argentina-announces-S150-million-offshore-oil-511343
(Bolivia)
Bolivia has revealed ambitious plans to double its natural gas reserves in the next four years, but industry analysts are skeptical about whether the needed foreign investment will materialize.
http://uk.reuters.com/article/oilRpt/idUKN2832922220080828
YPF Bolivianos, Bolivia's state energy company, said it seeks to double the Andean country's natural gas reserves through foreign investment.
http://www.bloomberg.com/apps/news?pid=20601086&sid=a1teL1HyTFC4&refer=latin_
america
Bolivia has revealed ambitious plans to double its natural gas reserves in the next four years, but industry analysts are skeptical about whether the needed foreign investment will materialize.
http://www.guardian.co.uk/business/feedarticle/7759692
(Brazil)
Brazilian national oil company Petrobras is understood to have shown interest in picking up stakes in ONGC Videsh’s (OVL) two oil and gas assets in Brazil. The two blocks –– Espirito Santos (ES) 140 and Santos (SM) 1413 –– are 100% owned by OVL.
http://economictimes.indiatimes.com/News/News_By_Industry/Energy/Petrobras_eyes_
stake_in_OVLs_Brazilian_assets/articleshow/3418706.cms
(Ecuador)
Ecuador and Venezuela will explore oil reserves in Venezuela, Ecuadorian Mining and Oil Minister GaloChiriboga said Wednesday.
http://news.xinhuanet.com/english/2008-08/28/content_9727112.htm
Ecuador has lowered its 2009 overall oil production target by 8 percent to about 480,000 barrels per day, Oil Minister Galo Chiriboga was quoted as saying in a local newspaper on Thursday.
http://www.hemscott.com/news/static/tfn/item.do?newsId=66179006634065
(Peru)
Peruvian Congress repealed two legislative decrees at the root of the indigenous demonstrations that paralyzed various roads and energy installations from August 9th through 20th. The indigenous movement of the Amazon, home to 65 different indigenous nations, declared victory.
http://upsidedownworld.org/main/content/view/1448/68/
(Venezuela)
The Minister of Energy and Petroleum and President of Petróleos de Venezuela (Pdvsa) told El Universal that the current brands would be replaced by a brand called Pdvsa Gas Comunal, one of the seven new subsidiaries organized by Pdvsa last year.
http://english.eluniversal.com/2008/08/28/en_eco_art_govnt-seeks-control_28A1948921.shtml
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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