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I was surprised to see this drop tbh..
Topped up with 250 Shares as I was gutted I missed the 473p levels...
This fairly large drop today is prior to ex div right? So I can buy in now at the discount and still get the div?
I usually just buy and forget here but have funds to add currently and was waiting for a drop.
Https://www.buildersmerchantsnews.co.uk/NBG-signs-trailblazing-deals-with-BP-and-UK-Fuels/57570
BPX Energy, which oversees BP Plc’s oil and gas operations in the Lower 48, plans to bring online its fourth and final central processing facility in the Permian Basin around mid-year, according to the London-based energy giant’s CEO Murray Auchincloss.
Https://oilprice.com/Energy/Energy-General/Comparing-Big-Oil-to-Big-Tobacco-is-Ludicrous.html
Https://jpt.spe.org/bp-forwards-tiber-discovery-in-the-us-gulf-of-mexico-to-fid-in-2025
The European Commission has approved the creation of a joint venture (Net Zero North Sea Storage Limited) by BP CCUS UK NEP Limited ('BP') and Equinor Low Carbon UK Limited ('Equinor').
The transaction mainly concerns the capture and subsequent storage of liquefied carbon dioxide (CO2) from emitters in the Teeside and Humber regions of the UK.
The Commission concluded that the notified transaction would not raise competition concerns, given its limited impact on the European Economic Area.
Https://oilprice.com/Latest-Energy-News/World-News/US-Crude-Oil-Inventories-See-Surprise-Draw.html
Crude oil inventories in the United States fell this week by 3.104 million barrels for the week ending May 3, according to The American Petroleum Institute (API). Analysts had expected a 1 million barrel build.
Gasoline inventories fell this week by 1.269 million barrels, countering last week’s 1.46 million barrel build. As of last week, gasoline inventories were about 2% below the five-year average for this time of year, according to the latest EIA data.
Https://www.livecharts.co.uk/MarketCharts/brent.php
See you all next week.
Onwards and upwards:))))
HOUSTON, May 14 (Reuters) - U.S. federal regulators said on Tuesday that they are satisfied Venture Global LNG is trying to correct faults at its heat recovery steam generator (HRSG) at its Calcasieu Pass LNG export plant in Louisiana and expects the work to be completed in the timeline promised by the exporter.
Venture Global is the U.S.' fourth largest LNG exporter and has been at the center of a dispute with several of the world's largest energy companies including Shell PLC, BP PLC , Repsol S.A., Galp Energia, Edison SpA and Orlen SA, for failing to deliver their cargoes, two years after it first started producing liquefied natural gas (LNG).
The majors have taken Venture Global to arbitration and have even asked FERC to deny the LNG exporter's request to extend the commissioning period to 2025 or alternatively allow the majors access to confidential information on the commissioning so they can judge if Venture Global has been prolonging the process for its own financial gain.
The company has said the HRSGs at Calcasieu were part of the problem that has delayed commercial operation of the plant.
The Federal Energy Regulatory Commission (FERC) staff found that Venture Global's team was approaching the diagnosis and remediation of the equipment performance in a careful, technically sound manner, they said in their latest report.
Venture Global is working with the equipment vendor and other industry experts to find a permanent solution to resolve the equipment performance, said the site inspection report.
FERC did not say in its report what was the timeline given to it by Venture Global for the problems to be fixed.
Venture Global did not immediately comment on the report.
The Louisiana-based LNG exporter has insisted that the plant's power system was unreliable and it is not prolonging the commissioning process but rather acting responsibly to get the plant completed
It has insisted it cannot deliver long-term contracted cargoes unless the plant is complete.
FERC is yet to rule on the application of the majors to deny the extension request or make the confidential documents available to them.
Last rant on a quiet day.
There has been a debate for months about whether it would be legal or even wise to confiscate the frozen assets altogether. While the United States and Britain have favored confiscations, significant objections have come from countries like France, Germany, Indonesia, Italy, Japan and Saudi Arabia, as well as from officials like Christine Lagarde, the head of the European Central Bank.
They argue that confiscation would be a bad precedent, a violation of sovereignty and could lead to legal challenges, financial instability and retaliatory seizures of Western assets abroad.
Many of the Russian assets in the west are owned by shareholders not the Russian state but what does matter.
Putin has not made any movement to do the same with the west's assets in Russia but he will probably do so in response.
How does unlawful theft become morally correct because the west ( US ) decides it is.
US driven G7 plan to unlawfully steal, seize and sell $300 + Billion of Russian assets frozen in the west to fund Ukrainian conflict and rebuild another corrupt country.
Goodbye to BP's $22 Billion Rosneft stake.
Spights
Enjoy
Only 99 days till my next one
Chevron Surpasses Tesla as the Most Shorted U.S. Large-Cap Stock
Good afternoon meoryou. Portugal tomorrow for 9 days :))))))
Onwards and upwards
:))))))
So much for onwards and upwards, this will be 4.90 next Monday after going ex divi
Afternoon Spights
A bit quiet today
Sp fairly quiet
Oil fairly quiet
It will never last.
Onward and Upwards
Oil Prices Rise as Market Anticipates OPEC Monthly Report
Onwards and upwards:)))))
That’s what we were doing better 18 months ago.
Everything was coming on ahead of target.
Think quite a few things have slipped recently.
Hopefully this is the start again of everything coming on safely ahead of target.
It’s a great habit to have
IF (and its a big IF) Tesla's supercharging network is up for sale (I assume split geographically) there would be a bid process in which I anticipate bp would be squeezed out of, or at least have serious competition from PE, Hedge funds, Shell, Total etc.
I think Tesla could get a better valuation if they split it up vs. divest it in its entireity - Which is why I feel this story is just lazy journalism to get clicks, rather than what makes business sense.
Senate Majority Leader Chuck Schumer called on the Federal Trade Commission to stop the merger between Chevron and Hess Corp., claiming it would be detrimental to consumers.
“I’m sounding the alarm against yet another proposed Big Oil merger—a $53B deal between Chevron and Hess,” Schumer wrote on X on Sunday. “It would give Big Oil more fuel to raise gas prices. Trump might be hosting dinners for Big Oil execs, but the FTC should side with consumers and pump the breaks on this deal,” the Senate Majority Leader wrote.
It has been a long-running claim of Democrat lawmakers that consolidation in the energy space would lead to higher retail prices for fuels. On these grounds, Democrats in Congress have attacked all major deals from the past couple of years as consolidation gained momentum.
Earlier this year, Schumer led a group of 22 senators to call on the Federal Trade Commission to look into the tie-up between Exxon and Pioneer Natural Resources, and the Chevron-Hess deal.
“Exxon’s and Chevron’s operations downstream would enable them to redirect Pioneer’s and Hess’s crude supply to themselves, away from (and possibly to the detriment of) their midstream competitors,” the group wrote in a letter to the FTC.
“These new market dynamics could result in price hikes for midstream customers, and such added costs are often passed downstream to retail customers, including drivers at gas stations.”
Despite the legislators’ push, the FTC greenlit the merger between Exxon and Pioneer on the condition that former Pioneer CEO Scott Sheffield would not join the board of the combined company following allegations of collusion with OPEC to control oil production to keep prices higher.
The Chevron tie-up with Hess already faces a challenge in the face of Hess’ partner in Guyana, Exxon, which claims it has right of first refusal to Hess’ stake in their joint project there.