Was pretty clear, KSA refinery was by their winter, which starts around Oct/Nov and fuel for the LONO was Q4 also Oct/Nov (?). Hence not much action here at the moment, but a good time to top up if you have funds. I will be putting any SXX profits in here if I can get the timing right. IMHO GLA etc etc
RE: WHAT HAS HAPPENED?!
DAN2000, it has not remained in "teens" for a while, below it yes ! I think, that many are getting delusioned with the promises made by the BOD and then not delivering those promises and then using the drop in oil prices as a major contributory factor! I,like many, have much invested in QFI, however it seems, that every day that passes, there is mention of new technologies and engine efficiencies, if MSAR is the "magic elixir"- that we all hope it is-then why have the KSA and others not ramped up the pace. Only yesterday there was an article about depleted reserves of oil ! If that was not a catalyst for movement then what is ? TheExecutive was a very knowledgeable poster on here and- unfortunately- he has cashed in his chips, which is his prerogative, but makes you thgink. I really do hope that this interminable waiting game is shortly resolved, IMVHO that is
WHAT HAS HAPPENED?!
About a year ago QFI was around the 40's now it just seems to stay around the very low teens. What has happened to this share!! Everyone believed Brian8000 that its was going to rocket in 2013 now look at it!
Not posted for a few months, but I've had to sell out now. Still feel there is a lot to play for with QFI, but the time it is taking to come through makes me think this could gap down again before long. Seeing how range bound it is, and with nothing imminent, a couple of pence drop would see me in the red so it's better to get the remainder of my holding out flat. Had a good run with this since 2012 and took some out up to 46p so can't complain. Also I'm starting to think that even with some good news, this may not have another run like it did last year as there will need to be some hard numbers involved.. If I can find some change down the back of the sofa in a few months will see if I can get back in. But bills have to be paid I'm afraid! Good luck to you all, and will carry on watching this closely on the sidelines.
RE: Oil in short supply ?
Morning Sam, glad your cruise ws good. Interesting piece about "oil shortage" All the more reason for people to start "getting their act together" I would have thought ?
Oil in short supply ?
Good Morning alexis55, and everyone else, back from the cruise, which was very pleasant and restful. I said while I was away there where lots of tankers laid up, I also meant to say that there were a lot of oil rigs laid up as well. I saw 5 in one port. I have taken this from another site , and thought it was interesting for us if true. Short Piece from theweek.co.uk Oil price rise: is the world running short of oil? After a year in which the oil price plummeted and the industry adjusted to a period of global oversupply, an analyst has claimed that the world is running short of oil. The bold claim comes after Saudi Arabia and its main Middle East Opec partners turned down Chinese requests for extra oil. Reuters reports that the Saudis are holding back fuel for their own refineries as demand from the world's biggest crude importer hits new records. Saudi Arabia has previously resisted calls from Opec allies to cut production in an attempt to drive up the oil price, as it pursued a policy of low prices and high production volumes in order to undermine the profitability of the US oil industry. Saudi's rejection of China's request for more crude may help to explain why oil prices have risen by 40 per cent this year. Chinese importers have had to look to the likes of Russia, Oman, and other non-Opec nations. Writing on OilPrice.Com, Leonard Brecken asks: "Why would Saudi Arabia refuse to supply China unless oil was, in fact, tight?" He says there is "growing evidence that not only are we slowly rebalancing but the world may actually be running short of oil." Brecken's argument is further supported by official US data showing a drawdown of 2.7m barrels from fuel stockpiles, and oil companies' suggestion that rigs left idle by the plunging oil price could come back into operation when oil moves into the 70 per barrel region. A source with a Chinese refinery that takes Saudi oil said heavy crude was "a bit tight" in May and June. With imports of 7.4m barrels per day, China overtook the US as the world's top crude oil buyer in April
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