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Https://oilprice.com/Energy/Crude-Oil/Oil-Moves-Higher-on-Inventory-Draw.html
Hi Spights
A Lady needs her trips to the Hairdresser.
Another crazy day in the moy household.
Finally some time to chill , and catch up
Good afternoon Mark and meoryou
I was at the hairdressers
Exciting news,I hope they do move
So we get the true valuation
That would shake the LSE up
:)))))
Frankly, leaving Snoozebury wouldn't be a bad thing (ICBT = International Control Bu&&ering Thingsup) but when Westlake is the alternative, how would that be better??
Market still really not priced anything in.
But we are definitely being looked at.
Think many foreign companies will be scared off.
But Shell just need to be brave, then sell off all the bits they don’t want
Question is, is BP in play as a take over target. I think so.
It one of those things .
It keeps getting repeated enough ,it can become a self fulfilling prophecy.
Although so far that has not worked with any of the take over talk.
Spoiler alert.
Series 2 “ The oil companies fight back”( against UK politicians)
Morning Spights
Just read this. Out for the say now.
“I’m inviting all European oil and gas companies to relocate to America."
https://www.energyvoice.com/markets/552206/shell-bp-houston/?utm_source=Sailthru&utm_medium=email&utm_campaign=Energy%20Voice%20Daily%20Newsletter%20B%202024-04-24&utm_term=Energy%20Voice%20-%20Newsletter%20%28B%20Test%29
What makes me laugh about these Bp pensioners, these are the ones who were keeping other newer Bp employees out of the pension (when it suited) and the usual Oh I know how you feel and I sympathise and yet here they are wanting more from the glory hole whilst probably for the last 20 years nobody got a sniff of the DB pension, Im 19 years with them as a subsidiary 100% company and now a non senior partner ( Bp own 49% ) to the other companies 51%. They dont like it when its their turn as the company turns on them, even though the Pension is amazing as it is.
If they want to moan they should see how many raises American express have given the pensioners in the last 10 years =zero,not even a whiff of anything extra
Https://www.ft.com/content/030dc3c8-0f25-483e-91aa-9dbd9abc5c4d
Back Under Sanctions, Venezuela Flirts with Crypto Again. PDVSA, the national oil firm of Venezuela, is looking to hedge against dollar risks by shifting its crude and fuel oil exports to digital currencies, including the dollar-pegged cryptocurrency known as Tether.
Slowing Down of Electric Transition Puts EU Targets at Risk. The European Court of Auditors, the EU’s auditing service, warned that the bloc’s 2035 ban on fossil cars would hurt its own industry and aggravate dependencies, suggesting a policy rethink amidst slower-than-assumed EV growth.
Gulf of Mexico to Hold Second Offshore Wind Auction. Even though the first Gulf of Mexico offshore wind tender last August saw only one competitive bid, BOEM is pushing ahead with the second lease sale to be held in the fall, offering new acreage in offshore Louisiana and allowing for the production of hydrogen.
Everyone Wants a Piece of UAE Gas. European energy majors TotalEnergies (NYSE:TTE) and Shell (LON:SHEL) are in talks to buy stakes in the next LNG export project of ADNOC, the national oil company of the UAE, with market rumours suggesting an FID on the project might come as promptly as next month.
California Vows to Finish Exxon Probe Shortly. California’s attorney general promised to conclude a two-year investigation into US oil major ExxonMobil (NYSE:XOM), previously subpoenaed, and the oil industry’s role in global plastic pollution by summer, hinting at a potential lawsuit arising therefrom.
Canada Objects to Mega-Agriculture Merger. Canada’s Competition Bureau flagged major competition concerns around the proposed $34 billion merger between top grain traders Bunge (NYSE:BG) and Glencore-backed Viterra (LON:GLEN), saying it would harm competition for grain markets in Western Canada.
Tuesday, April 23, 2024
After a string of politics-heavy weeks when the oil markets were predominantly focused on political risks such as a potential Israel-Iran war, macroeconomics are back in business, with Brent dropping marginally lower to $86 per barrel. The markets have shrugged off the looming threat of Iranian sanctions, believing they wouldn’t have a material impact on physical flows.
Trafigura Bets Big on Copper Boom. Global commodity trader Trafigura believes increasing demand from EVs, power infrastructure, AI and automation will add at least 10 million metric tonnes of additional copper consumption over the next decade, expecting a bull run in the late 2020s.
Equinor Might Feel the Environmentalist Squeeze, Too. A small group of investors led by the UK-based Sarasin & Partners filed a resolution at Norway’s state oil firm Equinor (NYSE:EQNR) to ramp up the ambition of its emissions-cutting, even though the Norwegian state that owns 67% has voted against all previous climate resolutions.
The US Gulf’s Superport Lacks Commercial Backing. The ambitious plan of Enterprise Product Partners (NYSE:EPD) to build the first deepwater port in the US Gulf, capable of loading VLCCs, has been stalled as Chevron and Enbridge both backed out and stagnating US oil supply makes new capacity less desirable.
Namibia’s Giant Discovery Too Big to Handle. Portugal’s national oil company Galp Energia (GALP) is reportedly looking to farm out half of its stake in exploration block PEL 83 offshore Namibia, having only recently discovered a multi-billion-barrel field with its Mopane-1 exploration well.
Jet Fuel Demand Fails to Catch Up with Flights. As newer generations of passenger aircraft become more fuel efficient, the recovery in flight activity will most probably not lead to jet fuel demand surpassing pre-pandemic levels as the IAE forecasts kerosene demand to rise to 7.4 million b/d, still a far cry from 7.9 million b/d in 2019.
Global Traders Cash In On Byzantine Sanctions. Glencore and Trafigura stand to benefit from recent UK sanctions on Russian aluminium as they withdrew some $400 million worth of material from LME warehouses and re-registered it under a new designation, signing storage deals with warehouses to get a share of the rent for as long as it's there.
Saudi Arabia Penetrates Even Deeper into China’s Downstream. Saudi national oil firm Saudi Aramco (TADAWUL:2222) signed a preliminary agreement to buy a 10% stake in one of China’s newest refineries, the 400,000 b/d Hengli Petrochemical.
Yes it’s a lovely sunny day:))))))
Got Back home Sunday
I dropped some sun off hope you got it
Hi meoryou are you home ?
The UK saw two consecutive quarters of wind power overtaking fossil fuels as the single-largest source of electricity generation for the first time, per data from think tank Ember quoted by Reuters columnist Gavin Maguire.
In the first quarter of 2024, wind-generated a total of 25.3 terawatt hours (TWh) of Britain’s electricity, higher than the 23.6 TWh generated from fossil fuel sources, Ember data showed. As a result, wind power generated an average of 39.4% of the UK’s electricity between January and March 2024, versus a 36.2% share of fossil fuel generation
“Jet Fuel Demand Fails to Catch Up with Flights. As newer generations of passenger aircraft become more fuel efficient, the recovery in flight activity will most probably not lead to jet fuel demand surpassing pre-pandemic levels as the IAE forecasts kerosene demand to rise to 7.4 million b/d, still a far cry from 7.9 million b/d in 2019.”
From oilprice.com
The reason Rumaila flares the gas is because ROO does not have the gas contract. That was given to Shell.
Apologies Spights.
https://www.offshore-energy.biz/aker-bps-north-sea-field-comes-on-stream/#
Hi Mark your link is not working
A very good morning :))))))))
https://www.prnewswire.com/news-releases/aker-bp-hanz-on-stream-302123027.html