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Indeed the financing is nearly complete, it should have been done by the 3rd but alas a complication, shouldn't be any issues, after that is the RI, all IMO ofc )
Exactly right AK
I’m not worried about the rights issue; what I’m concerned about is the refinance. How much of our flesh we have handle over to the creditors?
The RI will be balanced by 17000 b/d. Plus 10000 b/d from Solan.
In addition Tolmount will add (Q2 2021) 20-25K b/d.
GLA
I would guess the refinance is imminent now.
Trump won't start a war until after he is re elected, he staked his campaign on it, China is the wikd card
I am hedging on oil doubling soon.
History repeats itself. In short war always follows economic depression.
War will be used to push up oil.
The chicken or the egg. What came first ?
War or Oil. What is next ?
You do the math
And we still have the rights issue to deal with, at what price will that be do we think ?
Aviation fuel needs to pick up
Yes, not quite there in the states yet but it will come. I've read somewhere that second hand car sales have soared in the US recently, again, probably because they don't want to use public transport and people have been moving out of city centers.
in UK fuel use is just about back to pre-virus levels:
"Daily fuel sales briefly beat pre-virus average as build-up continues
Daily road fuel sales topped the pre-virus average on Friday for the first time since lockdown.
An average of 18,094 litres were sold per filling station on July 31st, slightly average of the pre-lockdown run-rate just shy of 18,000. The weekly average to Sunday was 15,572 litres per station.
The benchmark reading came as data from the Department for Business, Energy and Industrial Strategy showed a continued comeback in road fuel demand."
I suspect that some drivers are using the car a lot more to avoid public transport. Some of my friends have done massive drives across Europe to avoid other people!
https://www.telegraph.co.uk/business/2020/08/06/markets-live-latest-coronavirus-news-pound-euro-ftse-100/
Thats not what he said
Ha ha ha - How long did it take for you to work that out !! Everyone I've just worked out if oil drops so does PMO , my God what have i been doing wrong all these years
told you. market drops. oil drops.