Falklands : Hydrocarbons Daily Record Wednesday, 24 September 2008
Submitted by Falkland Islands News Network (Juanita Brock) 24.09.2008 (Article Archived on 08.10.2008)
Crude prices dropped today even though the US Department of Energy Administration reports a drop in stockpiles.
HYDROCARBONS DAILY RECORD WEDNESDAY, 24 SEPTEMBER 2008
By J. Brock (FINN)
At 1930hrs LMT on Wednesday, 24 September 2008 Light Sweet Crude was trading at $106.71 down $2.76 on the New York Mercantile Exchange. Brent Crude was trading at $103.08 down $2.96 on London’s ICE Futures Market.
ANALYSIS:
Crude prices dropped today even though the US Department of Energy Administration reports a drop in stockpiles. The drop in crude supplies is understandable because of the postponement of delivery caused by two hurricanes this month.
Demand is also decreasing, with people not being able to afford highly priced gasoline. This winter they will also have problems paying for heating fuel. With demand down there is a decreasing need to have huge amounts in storage. Storing stocks of gasoline and heating fuel is expensive.
RELATED ARTICLE:
(Crude Prices)
Crude oil prices dipped Wednesday after the US government reported a sharp drop in consumption, stoking worries about demand in the world's largest energy consumer.
http://afp.google.com/article/ALeqM5jke6TDNcTcdGoVLE4g0eHS_dhQwA
SHARE PRICES ON THE ALTERNATIVE INVESTMENT MARKET: Wednesday, 24 September 2008
TLW: 739.00 down 26.00, DES: 68.00 up 1.25, FOGL: 102.50 up 6.50 RKH: 52.75 up 0.25 BOR: 43.50 down 0.75, BPC: 4.38 down 0.13 PRE: 11.25 unchanged GBP: 5.88 down 0.13, GPK: 372.50 unchanged, BLT 1440.00 up 5.00, RDSA: 1704.00 down 6.00, RDSB: 1653.00 up 9.00
New York Stock Exchange:
XOM: 77.91 up 0.22 (Trading in USD)
THE MARKETS (24/09/08)
FTSE100: 5,095.57 down 40.55 FTSE250: 8,407.36 down 47.22 SmallCap: 2,612.70 down 4.13
DJI: 10,825.17 down 29.00 NASDAQ: 2,155.68 up 2.35, S&P500: 1,185.88 down 2.34
US DEPARTMENT OF ENERGY ADMINISTRATION INVENTORY REPORT FOR WEEK ENDING 19/09/08.
http://tonto.eia.doe.gov/oog/info/twip/twip.asp
ALTERNATIVE ENERGY:
(Alternative Energy)
Suddenly a lonely spot on the Portuguese coast has become the centre of the wave power industry.
http://news.bbc.co.uk/1/hi/programmes/working_lunch/7633597.stm
Brazilian energy major Petrobras has announced plans for the opening of the Jesus Soares Pereira thermoelectric plant, as well as the deployment of the Clara Camarao refinery, in Guamare in the Brazilian province of Rio Grande do Norte.
http://www.yourpetrochemicalnews.com/news_item.php?newsID=11205
INTERNATIONAL DEVELOPMENTS:
(Arctic)
Recent discussions about national geopolitical concerns and spheres of interest have predictably reached the issue of Russia’s northern border.
http://howrah.org/World/30638.html
(North Sea Oil)
Abu Dhabi National Energy CO has acquired stakes in three Dutch North Sea oil and gas blocks from Calgary-based Cirrus Energy, Taqa said in a statement on Wednesday.
http://www.forbes.com/afxnewslimited/feeds/afx/2008/09/24/afx5463335.html
REGIONAL DEVELOPMENTS:
(Argentina)
Repsol YPF SA's Argentinian unit got an extension until 2027 of its oil and gas rights in the southwestern province of Neuquen, Efe reported, citing Jorge Sapag, the governor of the province.
http://www.bloomberg.com/apps/news?pid=20601086&sid=aaACQDs1loGg&refer=latin_america
(Latin America General)
The joint venture of ENARSA (Energy Argentina SA), YPF and Enap Sipetrol Argentina, a subsidiary of Chile's oil company ENAP, recently launched the Casa Rosada offshore exploration project in the Argentine Sea.
http://www.petroleumworld.com/story08092412.htm
(Venezuela)
China and Venezuela have agreed to double a joint investment fund to $12 billion, President Hugo Chavez said on Wednesday, lauding the socialist ideology which he said protected both countries from the global financial crisis.
http://www.guardian.co.uk/business/feedarticle/7822348
LOCAL DEVELOPMENTS:
(Borders & Southern)
An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights
http://www.londonstockexchange.com/LSECWS/IFSPages/MarketNewsPopup.aspx?id=1968010&source=RNS
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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