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My whole portfolio down by 5% over the last week... Don't think it's enq specific
''Its like playing snakes and ladders holding Enquest shares lol''
More like 'snakes & snakes' and sadly, not just here.
If EnQuest was a city we'd be Gaza. At least the bombing has stopped and the rebuilding can begin.
Its like playing snakes and ladders holding Enquest shares lol
I hope we don't give back all the gains made over the last month, we've already given back 2p of it with only 1.5p to go.
Where are the Buy backs ?
Unreal isn’t it, I nearly sold 50% of my holding at 17.30p earlier in the week 🤦🏽♂️
Trading a portion seems more appealing but the buybacks are nearly here and we are still so so so undervalued. Decisions decisions
Someone has been aggressively selling this week.
Now down 12% from Mid day Monday.
Same old EnQuest.
Important it is absolutely critical.
Ed and the incompetent clowns who govern our country take note quick smart !!
Very quick spike Dumbly, it's back to 87.65 for Brent. Very responsive, but hasn't held. Seems the attacks were almost symbolic rather than intended to cause harm. Maybe that'll be the end of it, pride restored and no damage done? Fingers crossed.
Typo - Dr Helen Webberley (not Hilary)
There are 3 brave women involved in this: Dr. Hilary Cass, JK Rowling and now Janice Turner but of course there are countless others. I even give a shout-out to the Tory party for stopping the SNP’s headlong woke rush into Gender Recognition Reform with the section 35 of the Scotland Act 1998.
I am totally supportive of the children and parents of children with trans issues and wish them nothing but love. What I cannot stand by and watch is using children as guinea-pigs on what according to the Cass Review is either unproven or plain quackery in some cases. Who knows what effect these pre-puberty drugs will have and you only have to look at the manipulation through social-media that influences the young and always has. It is more pronounced (imo) in young women and pre-pubescent girls are even more know-all than boys (we all grew up with them). My reason for posting is not about the trans issue, important as it is, but the appearance of our friend Ed Miliband. Once again he has proven to be on the wrong side of a massive woke shift. The Overton window is another name for “sea-change” and just as the trans issue was driven by wokery so too has the “climate emergency”. To question the mainly young activists is to be immediately called a “climate denier.”
I question Ed Miliband’s judgement. He can’t get out of this one. He gave Dr Hilary Webberley a platform and an air of authenticity. He is irresponsible in his woke ideological crusades.
More importantly the Overton window now covers climate change. The world is changing in our favour. I’m not a climate denier and we have to be careful with the world’s resources but the benefits of oil and gas have transformed our lives for the better. A higher standard of living and longer life could not have been achieved without cheap and abundant fossil fuels.
The moment the Cass report was published the Overton window lurched: everything Tavistock whistleblowers and journalists had been ostracised for saying was suddenly mainstream. It’s tempting to list the cowards, fools, liberal sheep, airhead celebrities, who shilled for Mermaids; atheists, humanists, blow-hard podcasters and “fearless” radio stars, right-on male comics who relished the chance to scream at women and spineless Labour politicians, all now claiming that Cass is what they believed all along.
I’ll allow myself the luxury of two names. First ED MILIBAND, who in November 2017 devoted his ‘Reasons To Be Cheerful’ podcast to trans issues. Not only did he scorn all opponents of self-ID as “bonkers” but he invited on Dr Helen Webberley, the child-hormone-prescribing doctor who ran a private clinic with her husband (who has been struck off the medical register). I wrote to Miliband privately, linking to articles explaining the effect of her drug regime. “Of course I don’t believe in sterilising children!” thundered this condescending know-all. [she then goes on about Baroness Hunt an ex CEO of Stonewall]
*Janice Turner – Notebook – The Times April 18 2024
https://open.spotify.com/episode/5tuqlYzqMLQliAgzM1Xifl
Spotify advert Nov 2017 Transgender Rights are Human Rights
Oil back over $90 following reports of missile attacks in Western Iran, Iraq, and Syria.
About time someone showed up Milliband for the Marxist ideological clown he is. Still doing his father’s work, the apple never falls far from the tree.
Sorry Zippy you can't just waltz in and make claims monopolising imbecilic politicians North of the border. Certainly not while we have Ed. He's upset too. Tonight he posted on 'X'
"This is a devastating admission of failure from the SNP-Green government in Scotland - one that will leave bills higher for longer, energy jobs continuing to flow overseas, and households and businesses across Scotland vulnerable to Putin’s whims."
I don't want to appear triumphant but it looks like we've trumped you in the ideological claptrap stakes.
The problem, in other words, is not that Brits are lousy environmentalists. It’s that once again, Net Zero is collapsing as the public refuses to impoverish itself.
The rest of Europe, Remainers like to tell us, is forging ahead into a glorious green future while Brexit Britain is stalling, the government backsliding one by one on its net zero commitments.
It is hard to square that narrative with what’s really going on across the channel. In March, according to data from the European Automobile Manufacturers’ Association, registrations of new electric vehicles plummeted by 11.3 per cent. In Germany – the grown up country that’s supposed to show childish Britain how it’s done – the drop was even more precipitous at 28.9 per cent.
Apparently it’s not just Britain where motorists have gone distinctly cool on electric cars. The electric vehicle industry appears to going the same way as one of its own products when the battery charge lowers: it’s slowing rapidly to a crawl.
And it’s plain to me that the reasons in Europe are the same as they are here: electric cars are too expensive to buy, and too fussy to recharge. They have a niche as local runabouts for people with their own off-street recharging facilities, but little appeal otherwise. Enthusiasts will point to te example of Norway, where the vehicles have a 90 per cent share of the market, but that exception merely demonstrates what has been clear for a while: people buy electric cars when the government rigs the market in their favour
In Norway, buyers of EVs pay less VAT, are given access to bus lanes or free parking in various regions, pay lower road tolls and are given the right to charge their vehicles if living in apartments. Add to that the government mandating that cars purchased in public procurement need to be zero emissions, and it’s not hard to see why sales are high.
Elsewhere, however, takeup is more moderate, and the EU’s dislike of cheap Chinese imports certainly isn’t going to help. The European Commission is currently considering whether to jack up import tariffs. This is necessary, it says, because the Chinese government is plastering the industry with unfair subsidies.
In other words, the EU is telling motorists that it wants them to go electric, but when cheaper imported products arrive on the market making it slightly more affordable for them to do so, it it cracks down on those imports.
It isn’t just electric cars, though. The EU is full of bluster when it is setting net zero targets, but arguably no more enthusiastic than we are about hitting them. Less so, even. Germany has a net zero target date of 2045, five years earlier than Britain, yet it has reopened coal mines.
Moreover, it’s wriggling out of its electric vehicle targets. Thanks to German carmakers, internal combustion engines will still be acceptable so long as they are capable of running on bio- or synthetic fuels. And thanks to German homeowners, the ban on gas boilers were also watered down. The problem, in other words, is not that Brits are lousy environmentalists. It’s that once again, Net Zero is collapsing as t
Màiri Louise McAllan is a Scottish politician serving as Cabinet Secretary for Wellbeing Economy, Net Zero and Energy since 2024. She previously served as Cabinet Secretary for Transport, Net Zero and Just Transition from 2023 to 2024 and Minister for Environment, Biodiversity and Land Reform from 2021 to 2023.
All that experience and she's still just a bairn (31). Perhaps now she'll have to get a job and learn about the real world.
*Key words check: they're all there and form part of the juststopoil entrance exam.
Morocco to UK interconnector project sees 20% cost hike to £24bn
https://www.newcivilengineer.com/latest/morocco-to-uk-interconnector-project-sees-20-cost-hike-to-24bn-17-04-2024/
Sunlight getting more expensive and they still haven't got over the technical problem called "nighttime". I hear on the grapevine that even U.E.A. (Dubai) is having second thoughts and investigating hydropower.
Ahhhh, good old Yousless, what have we done to deserve such an imbecile?
I did wonder if this was going to be based on new support from the Ayatollahs or Hezbollah or ISIS-K or something.
I do wonder if the ScotGov actually thought this was a good idea to withdraw the commitments or just wanted to get ahead of the bad news.
Classic that Mairi MacAllan has blamed Westminster. Of course, who else's fault could it be...??
Incredible that the the independence fantasy was wholly based on "Scotland's Oil" just a short decade ago.
Redb
My 2025 forecast fcf assumes a $70m drop in capex compared to 2024 as a result of Labour removing investment allowances (from $200m to $130m). I have not reduced it further as Kraken workover planned for Q1 2025 will have been contracted pre election. Reduction of capex likely much higher in 2026 if Labour remove investment allowances as currently stated.
Interesting 2025 and 2026 could be stella FCF years under a more aggressive labour policy before depletion rates start to really bite in 2027 onwards. If Labour stick with current conservative policy the capex could rise quite dramatically with progression of Bressay etc.
My gut feel is that energy policy could become a significant area of debate and differential in election campaign.
Https://www.telegraph.co.uk/business/2024/04/18/charts-show-scale-europe-electric-car-crash/
Net Zero Watch applauds Humza Yousaf’s climate leadership
Campaign group Net Zero Watch has welcomed the Scottish Government’s decision to abandon its decarbonisation targets.
Net Zero Watch director Andrew Montford said:
“The SNP and their Green partners are the first administration to face up to reality, but they won’t be the last. The era of virtue-signalling climate targets is coming to an end. Humza Yousaf is showing himself a real climate leader.”
Net Zero Watch head of policy Harry Wilkinson said:
“Most politicians across Europe still have their heads in the sand. They will have to change course eventually, but until they do their decarbonisation dogma will continue to wreak havoc in their economies.”
----------------
Reality can be a bitter pill to swallow. Even so Yousaf will probably just ignore this congratulatory message
Does anybody really think that Labour will start with an anti-business agenda? Starmer is suspect (power first - ask Corbyn) but he'd lose Rachel Reeves in a heartbeat if he tried to attack investment or alienate business. O&G isn't the soft target it was even a few months ago. Miliband has the Unions (or so popular theory goes) but they {The Unions] tolerate the ideologists until it hits jobs and pay-packets; then it is a different story. Talk is cheap but it doesn't hurt to remind them what they've said. They are also highly skilled in turning 180 degrees and blaming the decision on somebody else. The word "hypocrisy" is interchangeable with "expediency" in the political lexicon. I also think Labour will want some good headlines as soon as they are elected and maybe the Tories will surprise us with some mitigation on EPL? Don't forget it is the Tories that scuppered us.
Stevo, what do you see as possibility if capex allowances removed from 2025 with a labour government?
Presume capex will fall off a cliff, and continue to harvest cash from Kraken with FPSO lease cost dropping and interest payments dropping
Also does anyone know conditions of the term loan - can it be paid off early?