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Boyobach,
"although Tories avoid pursuing policies arbitrarily labelled as socialist."
Indeed. They just enact them.
As a left leaner, I find it fascinating.
Labour got roundly hoofed for promising abot 10% of what the tories have done.
I know you can say "needs must", but it's totally re-awakened my interest in politics again.
As for the presidential debate, yes, you really ought to watch it. At least for as long as you can stand it. I managed about an hour.
I didn't think Biden did much of a job in the way he came across, but Trump was an utter disgrace and did all Americans a massive disservice in constantly talking over his opponent, imo.
No wonder we laugh at their political system.
Boyobach
I dont think Biden will do anything drastic next year except look at jobs and recovery and heal wounds...just to get the consumer back on an even keel of optimism will support jobs....just having a "calm" dialogue with China and Europe will create jobs ... just getting a feeling of everyone working together to heal and move forewards will be more than a handful...and yes nothing too drastic at all....very central Democrat/soft side Rep ....of course depends on the mix in Congress as to what he might get passed through....and of course he has to win first...it is a Democrat Administration rather than a Biden taking centre stage... like Trump has ...IMO
After seeing Trump last night...that guy has lost it....one commentator said it was like debating with a chimpanzee who is more likely to throw his faeces at you than throw any coherant comment or truth......yeah..it was that bad
His effect on RDS ..well...next year not too much I dont think...he has to get the jobs back and the economy moving and stable ..and then tackle the more divisive issues in later part of 2021 and 2022 onwards ...the growth in the US economy will determine Shell there...and the oil price will stay stable $40-$45.. imo ..and even that could attract discounts like this year ...get the Dollar stable too...
Yes - I must catch up on the debate - mainly for laughs!
What is your take on Biden or Trump as regards RDS?
I tend to think Biden could be good for a number of reasons - tighter control of Shale for one and more restraint on US Oil Cos possibly. Although Biden is 'Republican Light' really isn't he? so he probably won't do the more radical things he's promising. I can't quite grasp why ordinary US citizens haven't figured out that the State and political establishment screw them and distributes their tax cash to the wealthy and corporates. I'm not a lefty by UK standards but I would certainly fall into that category in the US. It's language really - they can't differentiate between socialist, leftist and communist. We have a similar problem here but not quite so severe, although Tories avoid pursuing policies arbitrarily labelled as socialist.
Boyobach
I get the impression the market wasnt impressed with the Trump-Biden debate ( nobody was ) and "fear" a difficult result and a very divided America ...Biden is doing better in the polls and in swing states .....going to be a fun month ahead (not) ..Trump was just an uncontrolled animal
Yes indeed Pokerchips.
The initial market reaction was that RDS opened lower for the fourth day in a row followed by a drop to 945 - below the most recent intra-day low of 948. The trend is obviously not reversing and the nominal 950 support is under pressure.
Brace! Brace!
The figures look worse than the expected to me.... the oil and gas prices received are still awful....the gas was previously noted but the oil discount to Brent price is still the same as Q2
Adjusted Earnings are expected to be a net EXPENSE at the lower end of the $800 to $875 million range for the third quarter.
This excludes the impact of currency exchange effects. ..I guess the inability to make the same gains from the trading side has meant they couldnt offset this like they did in Q2
Clear to see why the job cuts are happeneing....
GAS
Trading and optimisation results are expected to be below average. A one-off tax charge is expected to have a negative impact on Adjusted Earnings in the range of $100 to $200 million, no cash impact is expected in the third quarter. Approximately 80% of our term sales of LNG in 2020 have been oil price linked with a price-lag of up to 6 months. Consequently, lower realised prices due to this price-lag are expected to have a significant impact on LNG margins in the third quarter
UPSTREAM
Production is expected to be between 2,150 and 2,250 thousand barrels of oil equivalent per day, which includes a production impact of 60 to 70 thousand barrels of oil equivalent per day from hurricanes in the US Gulf of Mexico. Realised liquids prices in the first two months of this quarter reflected a 15 to 20 percent discount to Brent, similar to the discount in the second quarter 2020
OIL PRODUCTS
Refinery utilisation is expected to be between 64% and 68%. Realised gross Refining margins are expected to be significantly lower compared with the second quarter 2020.Sales volumes are expected to be between 4,000 and 5,000 thousand barrels per day. Trading and optimisation results are expected to be lower than the historical average and significantly lower compared with the second quarter 2020
CHEMICALS
Chemicals manufacturing plant utilisation is expected to be between 79% and 83%. Chemicals sales volumes are expected to between 3,700 and 4,000 thousand tonnes. Compared with the second quarter 2020, Adjusted Earnings are expected to be negatively impacted by around $100 million due to increased activity, provisions and phasing of maintenance activities.
CORPORATE
Corporate segment Adjusted Earnings are expected to be a net expense at the lower end of the $800 to $875 million range for the third quarter. This excludes the impact of currency exchange effects.