Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
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KUWAIT OIL MINISTER SAYS SUPPORTS SAUDI ARABIA'S CALL FOR NEW OIL CUT TALKS, REUTERS SUNDAY
Monday Open?
Market's totally irrational atm so with
OPEC delay & results out I'm guessing Wed or Thurs I'm going for 710p. Obviously hope it's higher. Also reckon there'll be a significant drop Thursday pm with traders not willing to hold for a 4 day weekend in the current climate. Again, hope I'm wrong.
"but looks like that is going to be delayed until the middle of the week..."
That's because OPEC+ wants to get everyone on board with the cuts .... not just SA/US/Russia. Cuts can be made now, but the 3 big players want everyone singing from the same hymn sheet imo.
The members of OPEC+ will have been suffering too and know this is serious, non-agreement could spell the end for whole countries and their regime, let alone their O&G industry, so I see no reason why they will not all cut. In fact, so long as the US fall in line, I can see bigger cuts than 10-15mmboe. In deed they will put cut upon cut until POO stabilises at ~$40 imo. That should be sufficient for OPEC+ producers to still operate at a profit, but still inflict a degree of pain to US shale producers .... who lets be honest, have had it easy until now.
If for some reason they fail to agree, well then, I despair for their lack of humanity in these exception times.
aimo
RE: Weekend chat suggestion - opening price on Monday?
OK, so here is an update on the opening price to date.
Ammu123 £10+
Rookie1 £ 9.00
ferrotty £8.80
Dana (me) £8.50
Jack1888 £7.77
NewKOTB £7.49
RE: Weekend chat suggestion - opening price on Monday?
OK, so here is an update on the opening price to date.
Ammu123 £10+
ferrotty £8.80
Dana (me) £8.50
Jack1888 £7.77
NewKOTB £7.49
Rookie1 £ 9.00
Ah didn't notice that
RE: Weekend chat suggestion - opening price on Monday?
OK, so here is an update on the opening price to date.
Ammu123 £10+
ferrotty £8.80
Dana (me) £8.50
Jack1888 £7.77
NewKOTB £7.49
Thanks ferrotty, your bid is now in the right position. Please forgive the CDO, that's OCD in the correct order.
RE: Weekend chat suggestion - opening price on Monday?Today 08:50
OK, so here is an update on the opening price to date.
ferrotty £8.80
Ammu123 £10+
Dana (me) £8.50
Jack1888 £7.77
NewKOTB £7.49
OK, so here is an update on the opening price to date.
Ammu123 £10+
Dana (me) £8.50
Jack1888 £7.77
NewKOTB £7.49
I think 7am monday will have an influence. Being over exposed in O&G has a very different feeling from the last couple of weekends. As it stands its positive news so I'll go with slight increase all the 7s 777p.
If 42p brent is achieved as Mr Putin would like that's a 23.5% increase from 34p so = 925p for RRE which would still be massively undervalued if RRE is making a profit.
Us Rig count dropping like a stone,I see talks of a sub 10 m cut Monday maybe only half of what trump proposed (15m)but aslong as there is a willingness to cooperate I think the market will still react positively. This isn’t about physical supply and demand right now as such, the over supply hasn’t really been in full flow enough to cause a storage glut just yet and the surplus will get ironed out over the next 3-6 months when shale continues to drop.
The market just wants to see anything positive to show that supply will be adjusted to maintain a reasonable price and it’s not going to continue being a free for all for the foreseeable.
SA and Russia are probably thinking sub 10 m cut will achieve $40 oil which is enough to see them through these times of turmoil while keeping the noose around shales neck,they still want to achieve their goal of wiping shale out completely, that won’t have changed.
£7.49 - As we will go straight into suspension with RTO, aimo
Yup Monday is just a guess but I am confident it will some time next week....
It doesn't say results on Monday.
It is a bit of fairly well-informed guesswork.
We shall see at 7.00 am on Monday.
It was delayed due to fca asking companies to withhold results.
I think fca now saying it can be released from 5th April.....
Where does it say final results Monday?.
With the trading update 10++ open
I think that many of us are bored rigid at the moment, I certainly am.
I am even tempted to dust off the telly and see if it can be tuned into the digital channels - hasn't been on for 5 years.
This Covid 19 has destroyed my pub-based social life, and I can't even visit my mates.
However I am very aware that we are all vulnerable, and sincerely hope that none of us or our nearest and dearest are amongst the casualties.
So, to relieve the boredom, let's have a nearest to the opening price competition for Monday.
I think that the results will be as expected, and in these uncertain times, it will be hard to pull off any startling deals.
The rumour mill will ramp wti oil up towards $35 to $40, Brent $40.
Brent at time of writing $34.27
https://markets.businessinsider.com/commodities/oil-price
At that level we will banking a profit of circa $300,000 per day allowing for the gas hedging and the oil/gas mix that we have.
That would give us a profit for the year of more than £100 million per annum, taking into account monies banked already.
My opening guess - £8.50 but should be £9.00