Falklands : Hydrocarbons Daily Record Thursday, 25 September 2008
Submitted by Falkland Islands News Network (Juanita Brock) 26.09.2008 (Article Archived on 10.10.2008)
Optimism over the US Congress potentially passing the rescue package for the Insurance Company, AIM has caused crude prices to increase today.
HYDROCARBONS DAILY RECORD THURSDAY, 25 SEPTEMBER 2008
By J. Brock (FINN)
At 1930hrs LMT on Thursday, 25 September 2008 Light Sweet Crude was trading at $108.02 up $2.29 on the New York Mercantile Exchange. Brent Crude was trading at $104.60 up $2.15 on London’s ICE Futures Market.
ANALYSIS:
Optimism over the US Congress potentially passing the rescue package for the Insurance Company, AIM has caused crude prices to increase today.
Demand is lowering and the last thing one needs to increase demand is to increase the price of crude and the resulting hydrocarbons products. People were hoping that the bail-out would help to lower gasoline and heating fuel prices. Until people can afford these hydrocarbons products demand will be lower.
RELATED ARTICLE:
(Crude Prices)
Crude oil rebounded on hopes that the $US700 billion bank bailout plan would stabilise the teetering US economy and boost domestic energy demand.
http://news.smh.com.au/business/oil-rebounds-on-rescue-plan-hopes-20080926-4oaf.html
SHARE PRICES ON THE ALTERNATIVE INVESTMENT MARKET: Thursday, 25 September 2008
TLW: 762.50 up 23.50, DES: 63.25 down 4.75, FOGL: 100.50 down 2.00 RKH: 53.00 up 0.25 BOR: 43.00 down 0.50, BPC: 4.38 unchanged PRE: 11.25 unchanged GBP: 6.13 up 0.25, GPK: 372.50 unchanged, BLT 1435.00 down 4.00, RDSA: 1733.00 up 29.00, RDSB: 1675.00 up 22.00
New York Stock Exchange:
XOM: 80.67 70 2.24 (Trading in USD)
THE MARKETS (24/09/08)
FTSE100: 5,197.02 up 101.45 FTSE250: 8,434.65 up 27.29 SmallCap: 2,599.48 down 3.22
DJI: 11,022.06 up 196.89 NASDAQ: 2,186.57 up 30.89, S&P500: 1,209.18 up 23.31
US DEPARTMENT OF ENERGY ADMINISTRATION INVENTORY REPORT FOR WEEK ENDING 19/09/08.
http://tonto.eia.doe.gov/oog/info/twip/twip.asp
INTERNATIONAL DEVELOPMENTS:
(United States)
BHP Billiton Petroleum and Anglo-Suisse Offshore Partners are among the oil and gas producers in the Gulf of Mexico to restore oil and gas production this week, following Hurricane Ike.
http://www.energycurrent.com/index.php?id=2&storyid=13358
REGIONAL DEVELOPMENTS:
(Argentina)
The latest Argentina Oil & Gas Report from BMI forecasts that the country will account for 6.28% of Latin America regional oil demand by 2012, while providing 6.25% of supply.
http://www.pr-inside.com/argentina-oil-and-gas-report-q-r826289.htm
(Brazil)
Galp Energia SGPS SA, Portugal's biggest oil company, climbed as much as 3.6 percent in Lisbon trading after Petroleo Brasileiro SA said tests confirmed a ``large'' deposit of natural gas and light crude oil in the Brazilian offshore well known as Jupiter.
http://www.bloomberg.com/apps/news?pid=20601086&sid=aJuujdy.nDw8&refer=latin_america
(Chile)
The latest Chile Oil & Gas Report from BMI forecasts that the country will account for 3.63% of Latin American regional oil demand by 2012, while making no meaningful contribution to supply.
http://www.pr-inside.com/chile-oil-and-gas-report-q-r826278.htm
(Peru)
Taiwan's state oil company CPC plans to submit tender to explore for oil in North Peru, the Central News Agency (CNA) said on Saturday.
http://www.petroleumworld.com/story08092413.htm
(Venezuela)
SCAN Geophysical has completed a 2,500 square kilometer (965 square mile) towed streamer seismic acquisition 3D program for PDVSA offshore Venezuela.
http://www.energycurrent.com/index.php?id=2&storyid=13349
LOCAL DEVELOPMENTS:
(Borders and Southern)
The Board of Directors are delighted to report that our Falkland Islands exploration programme is progressing well and on track. Our current focus is on the interpretation of the new 3D data.
http://www.londonstockexchange.com/LSECWS/IFSPages/MarketNewsPopup.aspx?id=1969561&source=RNS
(Global Petroleum)
PSC L5 expired on 11 July 2008 and PSC L7 on 8 June 2008. None of the joint venture parties have given notice that they wish to renew the PSC's.
http://www.londonstockexchange.com/LSECWS/IFSPages/MarketNewsPopup.aspx?id=1969027&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.
|
