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It’s going to be a bumper 3-4 weeks and I cannot wait.
There have been quite a few large off book trades going through over the past week or 2, that one this morning didn't push the price down either so MM seems happy to take them
This from yesterday:
https://www.theguardian.com/environment/2024/mar/18/climate-protesters-in-england-and-wales-lose-criminal-damage-defence
So a glimmer of common sense returning. Activists believe that they are on a mission and have a higher calling. I didn't realise that in their opinion if "right" was on their side (remember it is their definition) they have carte blanche to commit criminal damage without legal recourse or penalty. Just as worrying is that some juries fell for the legal argument of 'conscience'. I wonder if the realisation of everyday people (potential jurists) that the cult of climate change is falling apart under scrutiny. Their claims and data are being shown as scientifically weak and impossibly expensive. People don't want to go back to a medieval economy. The public opinion towards these deluded demonstrators is moving back to the real world where cost-of-living is much more pressing and the luxury of virtue signalling has lost its allure. People still want cheap transport and holidays abroad.
Our lovely government !
Wft has killed uk oil shares difficult to trade now
Even with the $5 jump in oil prices UK oil stocks haven't moved, Before the windfall tax was announced our SP would have moved up 2p-3p
Is the market expecting the oil price to give back the $5 gain shortly.
Does seem Scot.Gov are supporting : https://www.enquest.com/veri-energy/new-energy-and-decarbonisation
As we have Cromarty and port talbot set to deliver some home grown energy jobs in the renewable sector .. despite humza useless free riding yesterdays announcements it was interesting to hear the unions state the importance of O &G involvement in the technology https://www.pressandjournal.co.uk/fp/politics/6406023/cromarty-port-flowmis-windfarms/
There was a Scottish guy at the AGM last year moaning at AB about no shareholder returns and about failing SP
AB didn’t really respond - what else could he say.
The government screwed us all over not him
Vat on school fees now cited as a net cost as local authorities anticipate an increase in pupil demand !!
Gas plumbing new depths and certainly renewables looking @ par come the next auction !!!!oh and with cap likely to fall up until the election consumers bills will suddenly fall making the green agenda look pretty weak …. Recon the tories are going to announce that labour will be introducing in order … wealth tax , property tax , pension tax and savings tax just to pay for their green stuff ..Gloves are off !!
"OSLO, March 18 (Reuters) - Norway began its first auction on Monday for the right to build a commercial offshore wind farm, offering up to 1.5 gigawatts (GW) of capacity in what the government hopes will be the start of a massive development of renewable electricity.
"Bids are coming in ... This is a very good day for Norway," Energy Minister Terje Aasland told NRK radio later in the day, after it was announced the auction would continue on Tuesday.
Some analysts had feared no bids would be made amid soaring developing costs for the global offshore wind industry.
"The auction has continued throughout the day and has taken a break. The auction will start again at 09.00 (local time) tomorrow, Tuesday," the energy ministry told Reuters.
The ministry will present the winner when bidding ends. It declined to say how many groups were involved in the bidding." Reuters
Doesn't look like an auction to me. Sounds more like horse-trading.
Re Enquest flatlining. Next week AB has to come clean with shareholders. He must be aware that given the skin in the game he has built up over years, he can not possibly be happy with the flatlining of the SP , unless of course there is some deep unstated reasons which would keep him happy. If the news next week does not directly address returns to shareholders, I envisage a riot at the AGM.
Re Enquest flatlining. Next week AB has to come clean with shareholders. He must be aware that given the skin in the game he has built up over years, he can not possibly be happy with the flatlining of the SP , unless of course there is some deep unstated reasons which would keep him happy. If the news next week does not directly address returns to shareholders, I envisage a riot at the AGM.
Meanwhile we have Iraq showing a conscience, as OPEC’s second-largest producer, said it would reduce crude exports to 3.3 million barrels a day (bpd) in the coming months to compensate for exceeding its OPEC+ quota since January, a pledge that would cut shipments by 130,000 bpd from last month. It all helps.
Ditching oil and gas is a “fantasy” amid increasing demand, one of the world’s most powerful oil and gas bosses has said.
Amin Nasser, chief executive of Saudi Aramco, said the transition to net zero is “visibly failing” with oil demand set to rise for “some time to come”.
“The current discourse on energy transition ignores this reality,” he told the CERAWeek conference in Texas.
“The world should abandon the fantasy of phasing out oil and gas.”
Rising demand from developing economies could feed oil demand growth through 2045, he said.
This forecast for long-term demand growth is in line with forecasts from Opec and in contrast to the 2030 forecast for peak demand from the West’s energy watchdog, the International Energy Agency.
The two are far apart on both short-term and long-term demand forecasts, in part because of their contrasting views on the energy transition.
Reducing greenhouse gas emissions from hydrocarbons through carbon capture and other technologies achieves better results than alternative energies, Nasser said.
New energy sources and technologies should only be introduced when they are genuinely ready, and economically competitive, he added.
Without government subsidies, electric vehicles are as much as 50pc more expensive than internal-combustion cars, he added. “They cannot be subsidised forever.”
Sorry I did not make it absolutely clear, the 750,000Kwh was the extra difference after capital costs and subsidies i.e. the extra cost over staying with heating oil............without maintenance costs - I would not recoup the cost in my lifetime.
The technology needs to improve to sensibly reach net zero at a realistic cost, which means that transition and the need for O&G to sustain civilised society is going to be a must for sometime to come and even upon reaching net zero, hydrocarbons will still have a role to play until someone invents a substitute for all plastics, chemicals, fertilizers etc. To realistically achieve net zero will require draconian measures on a global scale and a very different lifestyle.
ENQ will have its day unless Labour nationalise it by stealing from the shareholders, that is stealing more than just the profits.
Or close to just watch poo is heading to 87 dollars.
Before the Ukraine war, I looked at heat pumps, with subsidies and over 10 years, I worked out that with the capital costs and additional electricity I could buy over 750,000kwh equivalent of heating oil equivalent. I went with Hydro instead for which there is no subsidy and they have put the application charge up to £6387, I presume to go towards the subsidies for the heat pumps!
Anyway, don't get me on that subject, much more interested in the Brent $86.25 per barrel and trying to understand why ENQ is flatlining. Big spread this morning but was able to buy at the bottom of the range - 10 days to go!
Has there ever been a more pernicious lie spread by government and lobbyists than the claim that net zero will save us money?
https://www.telegraph.co.uk/news/2024/03/18/heat-pumps-net-zero-green-energy-fossil-fuels/
Https://www.theage.com.au/technology/uber-to-pay-272-million-to-australian-taxi-operators-20240318-p5fd4p.html?fbclid=IwAR1MiIY0BbBMy8lHCfYnxNol-dQ6xxfAELaaX85ppv_RD7r5SK_qqiZZ24M
I've a pal who emigrated to Australia. We played football together. He had 3 taxi licenses. It cost him $960,000 and he received $593,000 compensation from the Labour party he'd have got zero from the Liberal (Tory for us) party.
Australia is the "first off the rank" in this respect globally and so he's got a nice little payment coming. Who will be next?
There's a lot of bad news heading towards the brave new world of ESG and technology.
O/T "The auction is now underway," the energy ministry said in an emailed statement, dispelling fears of some analysts that no bids would be made amid soaring developing costs for the global offshore wind industry. Reuters latest from Norway.
Krak, I think AB will provide a clear message and this has been indicated by IR, who have also indicated that action will be taken this year. The financials have to be right for the buybacks to begin and currently I am hoping before end H2, the timing is mainly POO dependent, the higher the price the quicker it will happen.
I hope we get a clear message of when returns will start with no beating round the bush.
Be even better if buybacks have already gone ahead taking advantage of the low SP.
EnQuest could have easily bought $25m of the shares over the past 3 months after the Bressay RNS, the volume was high enough.
Hi Krakenoil, there will be later on though and poo is going to 90 dollars.
The last published rns was a game changer for Enq even when the kitchen sink has been chucked up them by the incompetent clowns in power.
I totally understand your frustrations having held for so long, but this market cap is just so ludicrous low for what we have. I firmly believe shareholder returns are imminent and we then get lots of ii’s sniffing around.
ABis so heavily invested which is a rare occurrence nowadays, I am so looking forward to the next 3 months plus here.
Tav - the last crash came 2-3 years later than I certainly expected and in the meantime shares did quite well, for me they were the best years, but it is knowing when to get out.
Trade not shown but added again this morning in the hope that shareholder value announcements and updated debt figures will put a light under the sp.