oil price up

Perhaps worthwhile to note a couple of things related to TUI.
First production from TUI reach 21 million barrels today. So about 30 million to go.
Secondly from information on the NZOG website about TUI the return on Tapis price has been rising slightly recently. While we may get the impression from the general reference to the price of oil that it is down under or about US$40 and struggling that is not quite the case with Tapis. See this chart for NZOG
"Tapis Benchmark Crude - the weekly average Tapis price per barrel:
Week ended Average Tapis Price $NZ Equivalent
13/02/09 US$49.50 NZ$94.99
06/02/09 US$46.96 NZ$90.99
30/01/09 US$48.31 NZ$94.91
23/01/09 US$46.01 NZ$86.81
16/01/09 US$47.43 NZ$86.74
09/01/09 US$48.23 NZ$81.50
02/01/09 US$39.83 NZ$67.99
26/12/08 US$42.99 NZ$74.47 "

As the chart demonstrates the trend for the Tapis rate since the beginning of the year has been upward.
Now you can do the currency conversions for putting it into AU$ for PPP but it will show a similar gain I think to what NZOG is experiencing with the currency change over the period too.