I think it is the MM's trying to manipulate the price at the end of the day. Too regular to be anything else. Posted about it a lot of times so will leave it at that. I have informed the Market abuse section of the FCA about this practice many times. Promise not to mention it at the AGM tomorrow. :-)
An interesting political history of the Middle East, ISIS and oil prices. If the million dollar man is correct we could see ISIS driven into Saudi Arabia and the Saudi government overthrown. What an incredible mess:
"We already buy marine fuel to all the ships in the Maersk fleet, but to gain further economies of scale we are seeking to expand into external markets. Our superior fuel sourcing setup is our main value proposition: on behalf of our customers we buy the right fuel, at the right time, in the right place – and at the most competitive cost.
We are at the cutting edge of emerging new fuels and spend significant resources on technical and commercial innovation across all aspects of our business."
Disclosure of the tie-ins to the residue stock was very encouraging news. The KSA demonstration has had years of false starts, so the fact that physical preparatory work has actually taken place at the refinery suggests that the KSA demo may actually take place in 2016.
The Group has continued to look for selective opportunities to broaden the portfolio. These often arise through initial enquiries which then lead to joint evaluations with oil majors and associated companies. The party concerned will generally pay Quadrise to determine the feasibility of creating saleable MSAR® fuels by modifying low value 'problem' heavy residue streams from oil and petrochemicals processing to add value and reduce cost. The resulting business development opportunity could serve to broaden the active project portfolio and reduce future dependence on major programmes such as Marine and KSA. In this context a number of prospective 'generic' opportunities are currently in evaluation including re-fuelling refinery steam and power generation.
Unsolicited approaches concerning projects in areas such as the Former Soviet Union, the Caribbean, Asia and Africa continue to be received. Where they have merit the Company has confirmed conditional interest. The key provisos are that the basis of the relationship will be a joint venture, the prospective partner will fund the project with no recourse to QIL, and the Group contribution will be limited to technology and expertise in return for our share in the venture. Our expanded team has enabled more attention to be given to these introductions, and some related work is proceeding. However, 'select and focus' will remain the guiding strategy for some years to come. The Company continues to receive approaches from entities looking for co-investment in prospective 'toll processing' opportunities should these arise. From RNS October. Many Business opportunities. More news at AGM. R.
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