Falklands : Hydrocarbons Daily Record (27/04/06)
Submitted by Falkland Islands News Network (Juanita Brock) 28.04.2006 (Article Archived on 11.05.2006)
The Southern Hemisphere winter does not put as great a demand on heating fuel supplies as does the Northern Hemisphere winter.
HYDROCARBONS DAILY RECORD (27/04/06)
By J. Brock (FINN)
At 1800hrs LMT on Thursday, 27 April 2005 Light Sweet Crude was $70.97 and Brent Crude was $70.91 per barrel. This is the fourth straight day of decline in crude prices.
Contributing factors include the partnership between the People’s Republic of China and Nigeria, announced in Abuja today. China wants to look for hydrocarbons in the Niger Delta and as a sweetener will put $4Billion into Nigeria’s infrastructure.
Prices are kept high because of the tight control on supply by OPEC Countries. Demands on the limited supply are due to high fuel consumption in the United States as well as in emerging economies like that of the People’s Republic of China.
Decreased demand for heating products in the Northern Hemisphere during the warmer months will benefit supply.
LOCAL IMPLICATIONS:
Though it is coming to the winter season, the smaller population in the Southern Hemisphere will not put as great a demand on reserves as does the population in the Northern Hemisphere.
Purchase prices of bulk fuel for heating remain a concern locally as price increases are reflected at the retail end. The knock-on affect is higher prices not only for petroleum products but on the services those products help to support.
FOGL Progress Report - Wednesday 26th April 2006
GSI Gulf Pacific is on location, on the FOGL licence areas and has acquired a total
of 137km of 2D seismic since the last report was issued on 3 April 2006. This makes
a total of 12,630km since the beginning of the Phase 2 Survey in June 2005.
Follow the attached link to view the map.
http://www.falklandoilandgas.com/fog/operations.php?sec=2&sub=1
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