George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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Ghengis; been reading your postswith interest. Isn't a key factor (for med-term poo) the willingness of financiers to refund US shale once the MBS/Putin poo hose-down closes? With dumbasses like BP ponying-up $10bn for US shale assets, will fracking america-style (also tar-sands) resurface due to Trump-encouragement (subsidisation), or will the withdrawal of the likes of Shell actually suceed in killing it off? How farwill trumpetass go to protect his principal strategic asset?
gla
i suspect greta is learning to be careful what she wishes for. this is the part of the future she wants - less travel
whilst it sounds good when you can travel the world at the courtesy of those who indulge you - when she has to lie the life she wants the rest of us to maybe it is not so attractive. her generous sponsors might be a little more preoccupied these days
virtual signalling wokeness is a first world problem when there isn't the the problems of survival. when people have to start living like too many do in reality they will find it won't be so high up on their agenda
Longwait,
"Let’s get one thing straight. The collapse in oil demand as a result of the worldwide response to the Covid-19 virus is a much, much bigger problem than the additional barrels threatened by Saudi Arabia and Russia — none of which has arrived yet. As airplanes stop flying and drivers stop driving, they are going to struggle to find buyers for their oil, just like everyone else."
Agree.
Greta Thumbsuck must be rubbing her hands with glee. But we haven't heard much out of her, lately. Maybe she's gone back to school. After all she lives in one of the few countries where such establishments still remain open.
Let’s get one thing straight. The collapse in oil demand as a result of the worldwide response to the Covid-19 virus is a much, much bigger problem than the additional barrels threatened by Saudi Arabia and Russia — none of which has arrived yet. As airplanes stop flying and drivers stop driving, they are going to struggle to find buyers for their oil, just like everyone else.
https://www.bloomberg.com/opinion/articles/2020-03-31/trump-and-putin-are-all-talk-on-plunging-oil-prices
It is still possible this is bluff from KSA and the oil will not sail, or be held in storage in Egypt.
But TBh it's to some degree irrelevant. They can pump 20m bd for all it matters ; if the demand isn't there, and the storage isn't there, nobody will buy it.
If I were MBS, I'd be treating the Cv demand destruction as an opportunity to wipe out higher cost production in months rather than years, and grab a bigger slice of the market for the foreseeable.
i seen that too...sold my holding will wait on the sidelines
Bbobton
Blas or Berman ….it is just opinion. But the stories from BBG are the point. KSA looking like it will carry thru its threatened April 12m+ bd. The discounts to be published 5 April.
https://twitter.com/aeberman12/status/1244986288949911552?s=20
Javier Blas; there's a guy who doesn't talk nonsense, as with his followers too.
https://twitter.com/JavierBlas/status/1244959185713934336?s=20
https://twitter.com/JavierBlas/status/1244976727794896896?s=20
Russia has everything to gain with Iranian oilfields at a near standstill, a big worry for Iran's State finances and for their biggest customer- China, who will now look to Russia for crude. The US has now positioned a 2nd Nimitz carrier group in the area so may be expecting Iran to spark off against Saudi again.
Oil prices have rallied after a call between Donald Trump and Vladimir Putin raised hopes that tensions between Moscow and Saudi Arabia may start to ease.
Analysts suggest Trump could be willing to cut US shale production or ease sanctions on Russian oil companies, such as Rosneft, in order to lure Moscow back into negotiations with the Opec oil cartel.
Elsa Lignos, a senior strategist at RBC Europe, said: “Yesterday Trump called Putin in what our commodities team says ‘may prove to be an important turning point in the standoff between Moscow and Riyadh’. They argue a rollback of some US energy sanctions could be the catalyst for getting Russia back to the Opec+ bargaining table.
“A key question for the White House is whether it is worth continuing with the sanctions if they prevent a production agreement which could help save the US shale industry.”
Kalyeena Makortoff
https://www.theguardian.com/business/2020/mar/31/oil-prices-trump-putin-saudi-arabia-saudi-arabia-shell