Falklands : Hydrocarbons Daily Record (26/04/07)
Submitted by Falkland Islands News Network (Juanita Brock) 27.04.2007 (Article Archived on 11.05.2007)
Nuclear talks between the European Union and Iran have been fruitful and it is reported that differences are fewer than when the process began. This positive news helped to lower the price of crude today.
HYDROCARBONS DAILY RECORD: THURSDAY, 26 APRIL 2007
By J. Brock (FINN)
At 1800hrs LMT on Thursday, 26 April 2007 Light Sweet Crude was trading at $65.06 down 78 Cents on the New York Mercantile Exchange and Brent Crude was trading at $67.65 down 92 Cents on London’s Ice Futures Market.
ANALYSIS:
Nuclear talks between the European Union and Iran have been fruitful and it is reported that differences are fewer than when the process began. This positive news helped to lower the price of crude today.
THE MARKETS
FTSE 100: 6,469.40 up 7.45
FTSE 250: 11,940.90 up 36.68
SmallCap: 4,094.20 up 15.78
DJI: 13,105.50 up 15.61
NASDAQ: 2,554.46 up 6.57
S&P 500: 1,494.25 down 1.17
INTERNATIONAL DEVELOPMENTS
(Tashkent)
Tashkent Government and LUKOIL’S Overseas Divesion Have signed a memorandum of understanding in economical social and humanitarian activities, social development, and population prosperity. LUKOIL's proven reserves of hydrocarbons were 20.36 billion barrels in oil equivalent, including 15.93 billion barrels of oil and 26.6 trillion cubic feet of gas. In 2006 oil production increased 5.6% to 95.2 mil tons, refining volume increased 3% to 48.95 mil tons.
(Russia)
Research and Markets plc have announced the addition of “Pipeline Wars and New Routes of Hydrocarbons Transportation from Russia” to their offering. Recently construction of new pipelines have been ongoing in Russia. And, it is hoped that all the difficulties with oil and gas export will finally be settled. The number of issues is growing making it doubtful constructing the pipelines will be enough. Western and the eastern export routes could compete with each other for the raw materials. And, there are questions that the strategy to liquidate the “Slav go-betweens” – Ukraine and Belarus is realistic.
REGIONAL DEVELOPMENTS:
(Falkland Islands)
Two representatives from Royal Haskoning – Mr. Nick van der Sluijs, a consultant in port and terminal planning and Mr. Julian Hodnett, a principal engineer – are visiting the Falkland Islands in order to have a look at how FIPASS can be developed for more business. They are focusing on the fishing industry but have also expressed an interest in development for the hydrocarbons industry.
A full interview will be conducted with Mr. van der Sluijs and Mr. Hodnett for the Weekend Record.
There is still no word about when the first exploratory rig for Desire Petroleum will be brought to the Falklands. With oil prices ratchet higher and this makes the rig market very tight. Some companies are even using exploratory rigs for exploitation. Desire Petroleum plc has done a lot of pre-work in hopes that a rig will be found. Hydrocarbons have been generated in the North Falkland Basin but good news about an exploratory rig is needed to ensure that investors don’t lose hope in the project.
RELEVANT SHARE PRICES:
TLW: 374.25 up 4.50
DES: 26.50 unchanged
FOGL: 88.00 Unchanged
RKH: 43.00 down 0.50
BOR: 26.50 unchanged
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