Falklands : Hydrocarbons Weekend Record (20/21 May 2006)
Submitted by Falkland Islands News Network (Juanita Brock) 22.05.2006 (Article Archived on 05.06.2006)
Rockhopper Exploration have released an information paper about what it expects to find in its North Falkland Basin tranches.
HYDROCARBONS RECORD (WEEKEND EDITION – 20/21 MAY 2006)
By J. Brock (FINN)
At this writing the stock market is just waking up, with the Nikki up .55% the S & P 200 down .47% and the Hang Seng down .24%, so the daily report will begin with Monday’s Hydrocarbons Daily Record when Monday’s world-wide business completes.
TRENDS:
OPEC has guaranteed to keep up with demand and this could be an indicator for lower oil prices per barrel. It is the adequate supply of hydrocarbons products that drives the price of oil per barrel down.
DEVELOPING FACTORS:
(United Kingdom)
Experts say that North Sea Gas will run out in six years, so it is wise to aggressively seek alternative forms of energy generation. Some say nuclear power generation has been improved technologically and could, along with wind and solar power, be the way forward for the United Kingdom.
(Africa)
In Libya, Gadhafi's next goal is to initiate an economic revival by the doubling of oil production in the coming decade. High-tech oil extraction methods will help, as will geography: Libya, on the North African coast, should be immune from disruptions that could snare the flow of oil from the Persian Gulf.
(Iran)
Critics say that Iran is seeking a nuclear weapon and could have the materials to produce one in 6 or 8 months, with an actual weapon ready for use in 5 to 10 years. Iran, a strict Islamic country, has stressed that it is enriching nuclear fuel for energy generation.
(Latin America)
Press reports are about the insistence that Bolivian hydrocarbons companies should be compensated for their nationalised assets when foreign investors should not. While this is seen as a positive step in the right direction, it is considered to be unfair as foreign companies invested vast amounts of money in Bolivia’s natural gas reserves. While it is fair to say that investors seem to be getting most of the profits from Bolivia’s people, it is not fair to say that sudden acquisition of foreign assets will solve the problem of getting Bolivia’s Hydrocarbons profits to the people. Some are saying that Bolivia should have given an ultimatum to the hydrocarbons companies and if that ultimatum is not met, then the assets should be nationalised.
Meanwhile Chile’s president, Michele Bacholette, in her state of the nation speech, has said that she would like to see more of the profits from Chile’s copper industry go towards education and health care. Copper is one of the entities that has risen in price recently and it could prove to be a windfall for the people of Chile if Michele Bacholette gets her way. Hopefully the trend will spill over to the hydrocarbons industry.
(Falkland Islands)
Rockhopper Exploration, in advance of the release of its Controlled Source Electromagnetic Survey has released an information paper prepared by Kelper Teather & Greenwood Merrion – a UK Research Company. The paper, available of Rockhopper’s website, covers the drilling programme, finances, valuation, management, disclosure and legal information.
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