Utilico Insights - Jacqueline Broers assesses why Vietnam could be the darling of Asia for investors. Watch the full video here.
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Interesting little amendment to the Energy (Oil and Gas) Profits Levy Bill today (8 July 2022) which states;
"This new clause would require a six-monthly review by the Government of the oil and gas market to assess whether the levy is still needed and whether it should continue in order to promote decarbonisation of upstream oil and gas activities."
In practice that largely means electrification It also implies UK govt will continue and extend favourable tax environment for for such companies after the sunset period for this Bill.
This clause is not a major issue but provides a 'feel good' factor in the overall scheme of things.
Dickupham might have sold out when this was £3+ and doesn't post here anymore as he is enjoying his retirement by the pool in the Seychelles with a Cuban cigar .
Millario, we are all but independent already. Our imports from Russia were small and are trivial now. Of course that doesn't make much of a story so you rarely hear that in the media. Ask friends/family how much oil and gas the UK imports from Russia to get an inkling of public awareness.
According to a June 14th commons research paper the macro answer is:
In 2021 imports from Russia made up 4% of gas used in the UK, 9% of oil and 27% of coal. In 2021, imports of gas, oil and coal from Russian to the UK were worth a combined £4.5 billion. According to Eurostat, in 2020, imports from Russia made up 39% of the gas used in the EU, 23% of oil imports and 46% of coal imports.
In April 2022, the second full month since the invasion, the quantity of oil, gas and coal imported from Russia all fell substantially compared to April 2021. Oil and coal fell by around 70%, imports of Russian gas fell to zero in April. However, much higher fossil fuel prices meant that the value of these imports fell by a smaller amount and were 55% lower in total than in April 2021. Overall energy imports from Russia in the year to April 2022 were £5.1 billion
I'd like to see the UK Gov to put together a solid national 'cross party' plan for how they intend to be Oil & Gas independent from Russia going forward, but whilst Johnson and His bunch of clowns are in office it's probably hoping for too much !! :-)
Carcosa61, appreciated, as always.
https://twitter.com/Orcadian_Energy/status/1544388606197899265
From yesterday's first reading of the Energy (Oil and Gas) Profits Levy Bill; seems yet more positive news for JOG following initial feedback of the Energy (Oil and Gas) Profits Levy Bill.
Perhaps the risk is that oil prices return to historic norms quicker than many expect; although JOG have considerable tax losses to be employed as a back stop.
Sounds perfect for JOG
Energy (Oil and Gas) Profits Levy Bill 2022-23 (windfall tax) will be introduced in Parliament on 5th July and debated fully on 11th July – following Rishi Sunak’s commitment to a windfall tax last month, this Bill will confirm the details in law. However, the Government’s proposal still leaves the UK’s tax rate on offshore oil and gas producer profits 5% below the global average, and the new Investment Allowance announced with the levy creates a loophole that could result in an additional £6 billion in public subsidies to oil and gas companies.
https://www.politics.co.uk/opinion-former/press-release/2022/07/05/july-energy-policy-announcements-a-fork-in-the-road-for-government-energy-policy/
Dick is very entitled to abstain from posting here and elsewhere. He did indicate he had little more to add for now in one of his last posts. Given his health issues most of us on here hope he is okay but anyone hanging their decisions to invest or not on one investors posting frequency is in the wrong game and ought to take note of Dick's last piece of advice in every one of his posts - DYOFR! (or words to that effect).
Robsroom, DU may have shown some discontent with the govt's Windfall Tax and has been critical of some JOG management faux pas but he certainly has never "deramped" JOG and would have displayed a breath-taking ineptitude were he to have done so in May as you say and sold in June! No, the recent froth is a bunch of traders exchanging the limited stock available between themselves encouraged by the MMs. Some will have made 10 or 20 percent on a few pounds and others, including one notable (notorious) contributor here, have picked up stock at nearer £3 and are currently nursing a sore head. They may now be encouraged to become holders focussed on fundamentals rather than futile attempts to manipulate investor sentiment.
Dick not posting here or any other board for over a month does seem out of character as far as one can ascertain someone's character from the limited exchanges you get on these boards, hope he's okay as well, that said there's been no news so no real reason to post. The big recent swings up and down on low volume to me at least reinforces whichever the way it falls when it comes to deal/no deal it's going to be one hell of a ride, hopefully up, up and away....!
According to the FT 32.55m shares in issue with 18.05m in free float so not that many. Patiently waiting, I need another cruise, loads on offer just need the dosh.
This stock is tightly held 33m shares isn’t a lot considering there are some big holders . The sellers I guess are traders jumping ship . Sells are quickly snapped up by holders so I wouldn’t worry there . Long term holders won’t sell until there is news . Miss Dickupham hope he’s alright .
Tightly held by those who remain onboard the rocket ship! Recent falls will probably be Dick Upham or his family offloading, he was proper deramping end off may.
Tightly held? It's lost 25% of recent highs in the last couple of weeks LOL
Looking very positive here . Gaining momentum hoping for an imminent farm out . Very tightly held stock , as soon as news hits these will rocket to Orbit quicker than Elon Musks rocket !