Falklands : Hydrocarbons Daily Record Monday, 22 September 2008
Submitted by Falkland Islands News Network (Juanita Brock) 22.09.2008 (Article Archived on 06.10.2008)
Analysts used everything from the end of the month “squeeze” to the Dollar Euro rate to justify today’s extortionate crude price hike.
HYDROCARBONS DAILY RECORD MONDAY, 22 SEPTEMBER 2008
By J. Brock (FINN)
At 1930hrs LMT on Monday, 22 September 2008 Light Sweet Crude was trading at $120.92 up 16.37 on the New York Mercantile Exchange. Brent Crude was trading at $105.40 up$5.79 on London’s ICE Futures Market.
ANALYSIS:
Analysts used everything from the end of the month “squeeze” to the Dollar Euro rate to justify today’s extortionate crude price hike. This ensures that hydrocarbons products are classified as luxury items and well beyond the means of a growing number of people. Demand, the key to crude prices will go down if prices rise. If people can’t afford the product it will remain in storage at great expense until the price comes down.
People who can afford it will use alternative energy and those who can afford hydrocarbons products will be using them frugally so there isn’t that much month at the end of the money.
RELATED ARTICLE:
(Crude Prices)
Crude oil climbed more than $25 a barrel, the biggest gain ever, as traders scrambled to unwind positions on the October contract's last day of trading. The more-active November contract rose $6.62.
http://www.bloomberg.com/apps/news?pid=20601103&sid=aa2880cO2dNU&refer=us
SHARE PRICES ON THE ALTERNATIVE INVESTMENT MARKET: Monday, 22 September 2008
TLW: 802.00 up 14.00, DES: 70.25 up 5.25, FOGL: 102.00 up 3.00 RKH: 53.50 down 0.25 BOR: 47.00 up 1.50, BPC: 4.63 unchanged PRE: 11.25 up 0.25 GBP: 6.00 unchanged, GPK: 372.50 up 10.00, BLT 1479.00 up 32.00, RDSA: 1712.00 up 28.00, RDSB: 1636.00 up 41.00
New York Stock Exchange:
XOM: 78.88 down 0.73 (Trading in USD)
THE MARKETS (22/09/08)
FTSE100: 5,236.26 down 75.07 FTSE250: 8,753.01 down 229.67 SmallCap: 2,671.39 down 30.07
DJI: 11,015.69 down 372.75 NASDAQ: 2,178.98 down 94.92, S&P500: 1,207.09 down 47.99
US DEPARTMENT OF ENERGY ADMINISTRATION INVENTORY REPORT FOR WEEK ENDING 12/09/08.
http://tonto.eia.doe.gov/oog/info/twip/twip.asp
INTERNATIONAL DEVELOPMENTS:
(Angola)
Petroleo Brasileiro SA, Brazil's state-controlled oil company, plans to start carrying out seismic tests along the Angolan coast next year, Estado de S. Paulo newspaper reported yesterday, citing Samir Awad, executive manager of the company's international area.
http://www.bloomberg.com/apps/news?pid=20601086&sid=a5iBdyHyOjUY&refer=latin_america
(North Sea Oil)
Venture Production has belatedly brought the Chestnut field into production, providing proof that modern technology can make fields that were judged to be too small to bother with viable.
http://www.theherald.co.uk/business/news/display.var.2450820.0.Venture_starts_
production_at_Chestnut_field.php
First oil has been achieved on the Chestnut field. Wood Group Engineering (North Sea), a subsidiary of international energy services company John Wood Group PLC ("Wood Group"), is Duty Holder on Sevan Marine’s innovative Sevan Hummingbird FPSO, the first cylindrical mono-hull design to be introduced into the North Sea.
http://www.yourindustrynews.com/news_item.php?newsID=11023
REGIONAL DEVELOPMENTS:
(Bolivia)
Total, Gazprom and Yacimentos Petroliferos Fiscales Bolivianos have signed a cooperation agreement to explore the Azero block within the framework of a joint venture company in which Total and Gazprom will own equal stakes.
http://www.redorbit.com/news/business/1563416/total_gazprom_and_ypfb_to_
explore_azero_block_in_bolivia/
(Venezuela)
A squadron from the Russian Navy’s North Sea Fleet sailed for Venezuela on Monday, a Russian Navy spokesman said, in a bid by Russia to bolster military links in Latin America as relations with the United States continue to deteriorate.
http://www.nytimes.com/2008/09/23/world/europe/23ships.html?ref=americas
Venezuela's President Hugo Chávez and the president of state oil company PDVSA Rafael Ramírez signed agreements on Friday with a number of foreign oil companies to form JVs to develop three LNG trains...
http://www.bnamericas.com/sector_home.jsp?sector=9&idioma=I¬icia=450307
LOCAL DEVELOPMENTS:
(Desire Petroleum)
The Company was notified on 22 September 2008, that on that date Mr. Andrew Windham, a non-executive director of the Company, purchased 7,100 ordinary shares of the Company at 68.95p each.
http://www.londonstockexchange.com/LSECWS/IFSPages/MarketNewsPopup.aspx?id=1965626&source=RNS
(GeoPark Holdings)
GeoPark Holdings Limited ("GEOPARK" or the "Group"), the Latin American oil and gas exploration and production company with producing properties in Chile and Argentina (AIM: GPK), is pleased to announce the successful testing and placing in production of the new Estancia Zunilda 1 well and the new Santiago Norte 5 well on the Fell Block in Chile. GEOPARK operates and has a 100% working interest in the Fell Block.
http://www.londonstockexchange.com/LSECWS/IFSPages/MarketNewsPopup.aspx?id=1964600&source=RNS
GeoPark Holdings Limited, the AIM listed Latin American oil and gas exploration and production company with producing properties in Chile and Argentina, announces the successful testing and placing in production of the new Estancia Zunilda 1 well and the new Santiago Norte 5 well on the Fell Block in Chile. GEOPARK operates and has a 100% working interest in the Fell Block.
http://www.oilvoice.com/n/GeoPark_Provides_Production_and_Operations_
Update/ac39773e.aspx
LOCAL LINKS:
http://www.fogl.com
http://www.desireplc.co.uk
http://www.bordersandsouthern.com
http://www.rockhopperexploration.co.uk.
IMPORTANT LINK:
http://www.onegeology.org/
DISCLAIMER: The sources for related articles come from a variety of websites so that readers can get as wide a selection of views as possible. HDR does not necessarily align itself with any of the views expressed.
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