Falklands : Hydrocarbons Daily Record (27/06/06)
Submitted by Falkland Islands News Network (Juanita Brock) 28.06.2006 (Article Archived on 12.07.2006)
Maybe those unconditional bilateral talks will take place after all.
HYDROCARBONS DAILY RECORD: TUESDAY, 27 JUNE
By J. Brock (FINN)
At 1800 LMT Tuesday, 27 June 2006 Light Sweet Crude fell .19 cents and settled at $70.68 on the New York Mercantile Exchange and Brent Crude fell .16 cents to $69.77 per barrel on London’s ICE Futures Exchange.
TRENDS:
Rhetoric indicates that Iran will be holding bilateral talks without pre-conditions, as China steps in on the side of talks without preconditions. This has helped to drop the price of oil today.
THE MARKETS
FTSE:
At the close of play, the FTSE100 was 28.9 points lower at 5,652.3 with the FTSE250 up just 2 points at 9,199.1 and the FTSE Small caps 4 points better at 3,326.3. Volume was thin with only 2.26 billion shares changing hands in 289,419 deals.
DOW JONES INDEX AND THE NASDAQ:
The markets are on a downward slide today but as in politics, a week is a long time – a day is even a long time. The announcement about interest rates is due immediately.
The Dow Jones index closed down 1.1% at 10,924.74 and the NASDAQ closed down 1.57% at 2,100.25.
DEVELOPING FACTORS
(Iran)
An oil ministry official said on Tuesday that Rokneddin Javadi, CEO of the National Iranian Gas Export Company (NIGEC), has resigned and is waiting for the oil minister's reply. International hydrocarbons companies lauded Javadi as among the few influential technocrats in Iran's traditionally political hydrocarbons business. He was instrumental in negotiating important deals to export liquefied natural gas (LNG) to China and India, in 2009. Mr. Javadi is also a member of Iran's negotiating team in the talks on building an Iran-Pakistan-India natural gas pipeline. Political opposition to foreign investment inside Iran and international companies' concerns about U.N. action over Tehran's nuclear work have slowed these $2 billion projects.
LATIN AMERICA
(Bolivia)
Bolivia's Hydrocarbons Minister Andres Soliz said Tuesday that his country’s officials had identified areas in which Venezuela would participate in natural gas exploration and production. The blocks are located, "north of La Paz _ in a very interesting zone _ and also in Santa Cruz," Bolivian energy minister told reporters, adding the area held "great possibilities of finding hydrocarbons."
(Falkland Islands)
Falklands Oil Stocks End of Day Price for the 27.06.06
Desire Petroleum up 0.25p or 0.8% on the day to stand at 31.75p
Falklands Oil and Gas down 7.5p or 6.4% on the day to stand at £110.00.p
Rockhopper Exploration unchanged on the day to stand at 24.5p
Border and Southern unchanged on the day to stand at 44p
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