Falklands : Hydrocarbons Daily Record Monday, 28 January 2008
Submitted by Falkland Islands News Network (Juanita Brock) 28.01.2008 (Article Archived on 11.02.2008)
Market fluctuations again have increased the price of crude.
HYDROCARBONS DAILY RECORD: MONDAY, 28 JANUARY 2008
By J. Brock (FINN)
At 1930hrs LMT on Monday, 28 January 2008 Light Sweet Crude was trading at $90.00 up 28 Cents on the New York Mercantile Exchange. Brent Crude was trading at $91.38 up 48 Cents on London’s ICE Futures Market.
ANALYSIS:
Market forces have caused crude prices to increase today. People who rely on hydrocarbons products for heating and transport watch this in dismay, knowing that products maid from crude quickly bought at cheaper prices are all used up. In many cases crude prices bottomed out before the benefit could be realised by the people who need it the most. Demand is key to keeping crude prices down. Alternative energy can save money where it counts while helping to decrease demand for hydrocarbons products.
SHARE PRICES AND THE MARKETS:
SHARE PRICES ON THE ALTERNATIVE INVESTMENT MARKET: Monday, 28 January 2008.
TLW: 549.00 down 11.000 DES: 26.00 up 1.00, FOGL: 116.50 up 3.50, RKH: 76.50 up 1.00, BOR: 42.00 up 1.00, PRE: 14.00 unchanged, GBP: 7.13 unchanged, GPK: 436.00 unchanged, BLT 1394.00 down 23.00, RDSA: 1819.00 down 21.00, RDSB: 1776.00 down 27.00, RDSD: 39.21 unchanged (Trading in Euros)
New York Stock Exchange:
XOM: 85.13 up 1.19 (Trading in USD)
THE MARKETS
FTSE100: 5,788.90 down 80.06, FTSE250: 9,640.50 down 98.00 SmallCap: 3,112.30 down24.82.
DJI: 12,383.89 up 176.72, NASDAQ: 2,349.91 up 23.71, S&P500: 1,353.96 up 23.35
INTERNATIONAL DEVELOPMENTS:
(Alliance of Civilisations Forum)
Several business leaders representing Global Compact signatories participated in the First Alliance of Civilizations Forum, held in Madrid on 15/16 January. The executives were among a group of corporate leaders from Germany, Italy, Morocco, Spain, Turkey and the United States that addressed an international audience on ways in which business and increased cross-cultural understanding can benefit each other.
http://finchannel.com/index.php?option=com_content&task=view&id=5090&Itemid=54
REGIONAL DEVELOPMENTS:
(Argentina)
Argentina's industrial output rose 9.9 percent in December from a year earlier, the National Statistics Institute reported. Industrial production last month rose a seasonally adjusted 0.5 percent from November, the institute reported in Buenos Aires.
http://www.fxstreet.com/fundamental/analysis-reports/emerging-markets-weekly/2008-01-28.html
(Argentina and Spain)
Spanish oil company Repsol YPF could sell as much as 10 percent of its Argentine YPF unit to Argentine provinces as part of its plan to reduce its exposure to Latin America, newspaper El Mundo said on Monday.
http://www.reuters.com/article/rbssEnergyNews/idUSL2863014420080128
(Bolivia)
The fall in gas investments in Bolivia since the nationalisation of the oil and gas sector by President Evo Morales is worrying neighbouring countries such as Argentina and Brazil, which are no longer receiving the anticipated level of supplies.
http://money.cnn.com/news/newsfeeds/articles/newstex/AFX-0013-22566555.htm
(Bolivia and Venezuela)
The President of Bolivia, Evo Morales, announced the signing of diverse agreements with the President of the Republic of Venezuela, Hugo Chávez Frías, to explore zones of higher hydrocarbon potential at the Department of La Paz.
http://mathaba.net/news/?x=579569
(Brazil)
The U.S. economy could enter a "mild" recession if financial markets remain in turmoil, the chief executive of Brazil's state oil company, Petrobras, said on Saturday.
http://www.guardian.co.uk/feedarticle?id=7258020
(Ecuador)
Ecuador has begun renegotiating contracts with five international oil companies in an effort to boost state control over the country's crude oil reserves. Under current contracts, foreign companies own the oil they extract.
http://www.pennenergy.com/display_article/318410/7/PRARC/none/GenIn/1/Ecuador-revises-oil-contracts-with-IOCs-to-gain-control/
Ecuadorean President Rafael Correa said he wants oil firms to strike an agreement with the government to overhaul their contracts in 45 days as the state seeks to increase its control over the key sector.
http://uk.reuters.com/article/oilRpt/idUKN2844970920080128
(Peru)
Peru's state-owned Petroperu, in an effort to increase output by as much as 50%, announced plans to modernize its largest refinery this year. Bidding is to begin in March.
http://www.ogj.com/display_article/318412/7/ONART/none/Prong/1/Petroperu-to-upgrade-Talara-refinery/
LOCAL DEVELOPMENTS:
(Hydrocarbons Exploration)
Later this year, the Falklands’ 3,000 islanders should learn whether it will become the richest nation on earth. A floating oil rig will drill up to a dozen test wells deep into the sea bed around the British overseas territory. The findings should settle a decade of speculation over whether the islands lie in a particularly lucrative oil field.
http://www.timesonline.co.uk/tol/life_and_style/career_and_jobs/careers_in/careers_in_energy/article3237783.ece
LOCAL LINKS:
http://www.fogl.com
http://www.desireplc.co.uk
http://www.bordersandsouthern.com
http://www.rockhopperexploration.co.uk
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