期刊名称：Economic Bulletin / Central Bank of Trinidad and Tobago
印刷版ISSN：1011-6346
电子版ISSN：1818-0027
出版年度：2006
卷号：VIII
期号：1
页码：22-22
出版社：Central Bank of Trinidad and Tobago
摘要：industry participants in agreement that the
world crude oil market was well supplied,
geopolitical concerns overwhelmed market
fundamentals during the first quarter of 2006.
WTI prices averaged US$63.09/bbl during the
first quarter, an increase of 11.6 per cent from
the previous quarter and 27.1 per cent from
the corresponding quarter in 2005. In fact,
prices breached US$70/bbl on April 17, 2006
reaching US$74/bbl later in the month.
Minimal gains in oil production capacity were
offset by real and/or impending supply
disruptions in some of the world¡¯s largest
producers. In Nigeria, attacks against
multinationals operating in the Niger Delta
region intensified. It was estimated that total
crude oil shut-ins reached as high as 500,000
b/d with companies such as Shell declaring a
force majeure. Venezuela continued the thrust
towards re-nationalisation of strategic oil assets.
The government of Venezuela gave a mandate
for the conversion of all 32 private operating
contracts to joint ventures with the state
company, Petroleos de Venezuela (PDVSA) by
March 31, 2006. Upon the expiration of the
deadline, oilfields operated by Total of France
and Eni of Italy were seized for non compliance.
ExxonMobil sold their oilfield to Repsol YPF and
exited Venezuela. In an attempt to reduce
dependence on revenue from the United States
(US), Venezuela was also in the process of
diversifying its oil exports with plans to send
approximately 300,000 b/d to India and China
this year.
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