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Senegal looking for farm-in partners could we go for some acreage in Senegal likely more a development asset rather than production
https://energycapitalpower.com/senegals-petrosen-seeks-farm-partners/
We did sign a MOU last July - https://twitter.com/Groupe_PETROSEN/status/1678375382519631873
Also able to track historical production numbers without speculating.
http://mop.gov.ss/monthly-prod
'today' date - should read 11/3/24
Niger/Sinopec -
What now for Sinopecs hopes to enter Niger given the apparent decsion to award them to their state oil company. This is adjacent to both Save and CNPC blocks.
5/6/23
'China's state-run oil major Sinopec has set it sights on the western African country, where it is poised to become the second largest Chinese firm operating there behind China National Petroleum Corp (CNPC), an old hand in Niger.
Africa Intelligence understands that Sinopec wants to take over three areas in the region of Agadem which were handed back to the Nigerien authorities by CNPC. These areas, known as R5, R6 and R7, contain proven reserves.... '
Today 11/3/23
'General Tchiani's government intends to develop the blocks where discoveries have already been made by the Chinese oil giant. The awarding of the Bilma block to SONIDEP presents Niger's state-owned company with a huge challenge....'
Good to see we can now track latest production data from the ministry itself.
http://mop.gov.ss/monthly-prod
Zengas - I for one would imagine a lot of it will depend on the balance of payment left on the deal some people have said that the economic interest date on the deal goes all the way back to Jan 2022. So I would imagine with the continued production we have had over the period that the amount left to pay would be on the lower end.
Personally I think everything hinges on approvals and I personally feel with every passing month the risk has been financial risk of this deal has been lowered more in our favour so would be shame to can it without another substantial acquisition / deal
I wonder if AK is still in SS pushing for the approvals clearly they seem to be the biggest workstream / stumbling block towards us completing, can we still come back to the market and issue an admission document without approvals who knows..........................
From a former South Sudan oil minister who puts Sudans losses at approx $192m/month if the oil is not kept running.
' As a former Minister of Petroleum, let me attempt to shade light on the benefits for Sudan from the oil of South Sudan:
A. The production of DPOC, GPOC, and SPOC used to be 210,000 barrels per a day (2016 to 2019) but it has now decreased to 170, 000 barrels per day as per the latest statistics by the Ministry of Petroleum.
With the $25 (fees) per barrel going to Sudan multiplify by 170,000 barrels per day and a month. Sudan is getting roughly about $127 million USD a month.
B. The 28,000 barrels a day being refined at Khartoum Refinery at Al-jaili, and with it came along, petroleum products are being consumed and used by Sudan. South Sudan gets the normal price of their crude oil barrels of 840,000 a month, which is roughly about 65 million USD a month.
C. The Central Processing Facility at Al-Jabalain and Heglig processing facility
The South Sudan Oil in DPOC and GPOC is being operated by Sudanese, and they are making a living there
D. The marine terminal at Port Sudan where Oil is being shipped to the international markets the workers there (truck drivers, storage facilities, chemicals being brought via Port Sudan, and many logistical operations) are being handled by Sudanese and they are making a living there.
This really needs only mathematics to know the profits of Sudan. With the listed profits above the two Leaders Gen. Burhan and Gen. Hemetti should protect the pipelines and the facilities at all costs.
Yes, South Sudan is benefiting a lot from the oil. The budget of South Sudan is being run and financed by oil. So the biggest loser is South Sudan, and that is the reason for my appeal to our brothers in Sudan.
This oil is our “Food Union” where all of us (South Sudanese and Sudanese) are benefiting.
This “Food Union” shutdown can be a loss not only to South Sudan and Sudan but also our International Oil Partners like CNPC of China, PETEONAS of Malaysia, and ONGC of India.
I know some South Sudanese will ask me why you never built an alternative pipeline as South Sudan? The answer is our pipeline will also either go through Kenya or Ethiopia and Djibouti. We will also have to manage relations there. '
https://blnews.net/2024/01/threats-of-shutting-down-south-sudan-oil-by-sudan/
That's been discussed since 27th Feb here
"F/book 1 hour ago reporting on an interview with the minister of information saying the 23-24 budget will not be met as oil production reduced, gelling in 2 pipeline stations and difficulty getting oil out from port sudan due to the attacks on shipping in the red sea."
and in the same post
' this article on the challenges for S.Sudan via the red sea/houthi attcks on shipping.
https://bnnbreaking.com/world/yemen/south-sudan-oil-exports-hit-by-yemeni-houthi-attacks-amid-sudan-conflict '
hence the discussion on 1/3/24 and 1/5/23 re ring fenced financing and risk
As for what's AK doing - I'm sure that has been considered and it's been more than a month since these issues initially started.
"Can any deal be structured in a way that Save can continue say if oil exports were offline for 3-6-12 months at any point ? and it might not happen - totally unknown but i'm sure that risk has been considered. "
The pipeline leak was fixed........
https://www.southsudanminingjournal.co/en/post/bashayer-pipeline-company-resolves-khartoum-oil-pipeline-rapture/574
The Article seems to suggest lower throughput through the pipeline in February 79,000 and some liftings deferred from port sudan, seems to me the pipeline is still operational albeit lower volumes and red sea export issues making it difficult to export oil out.
If we they are producing and selling less, would we be paying less for the asset ?
CYB - well, in Africa he knows the threats of Wars, Coups, Nationalisations and violent FX swings as well as the best of us. I just hope he is growing our underlying businesses well enough to counteract all the issues he has and that we come back a stronger company then pre-suspension whenever we re-emerge to trading.
Poor old Knottie is going to start to wonder which way is up. Morning, all.
https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/oil/022924-force-majeure-declared-on-south-sudans-dar-blend-crude-loadings-sources
The worst of Naira is definitely over so let’s see some appreciation filter through over the next few months
https://www.legit.ng/business-economy/money/1582783-respect-bank-predicts-exchange-rate-naira-dollar/
I firmly believe that transcorp power listing alongside the executive orders by Tobin have been timed to drive sentiment and investment in the energy sector and it will prove the catalyst for growth
I am extremely bullish on Nigeria power suppliers and associated gas suppliers. For context transcorp listed on Nigerian stock exchange this week and closed Friday at 2.635 trillion naira market cap or $1.65 billion usd circa. We supply gas to transafam power so great to see such strong opening on the listing for transcorp. Plenty of scale on accugas to come especially with CPF completion shortly.
With the recent directive by the president to promote oil and gas investments I see double digit growth in accugas for the foreseeable future and hence I maintain that accugas will be a $1bn dollar revenue generating business as standalone
https://nairametrics.com/2024/03/09/transcorp-power-gains-n835-billion-to-top-weekly-gainers/?amp=1
https://transcorpgroup.com/
Rocky all of this policy reform will help sure up the naira and help it appreciate as the dollar flow increases into country unlocking projects
https://www.vanguardngr.com/2024/03/why-tinubu-signed-executive-orders-on-oil-and-gas-aide/amp/
https://www.thisdaylive.com/index.php/2024/03/09/fg-tinubu-determined-to-reverse-underinvestment-in-oil-gas-sector
https://www.ripplesnigeria.com/nigeria-aims-big-for-gas-sector-with-575bn-investment-push/?amp
https://businessday.ng/energy/article/fg-eyes-iocs-investment-to-boost-energy-sector-growth/?amp=1
https://punchng.com/fg-inaugurates-council-to-attract-575bn-gas-investments/?amp
Too right Zeng one can’t win :) my go is at Save. Trust and you and everyone else is doing an incredible job keeping this board going. I hate silent board. Come on SS official cooperate grant the approval please it’s well overdue.
RR Hopefully soon
The alternative Tier is no research or analysis and nobody discusses or shares anything.
Then the next thing is where is everybody ?
But when will we see the fx rate improve? It’s gone down again in the last week from 1,540 to 1,594…
ABUJA, March 8 (Reuters) - Foreign exchange inflows to Nigeria rose to $2.3 billion in February, the central bank said on Friday, fuelled by renewed interest from foreign investors and a rise in overseas remittances.
Africa's largest economy has been experiencing crippling dollar shortages that have pushed its naira currency to record lows in recent weeks and forced the central bank to devalue the naira twice in less than a year.
Central Bank of Nigeria (CBN) spokesperson Hakama Sidi Ali said foreign investors bought at least $1 billion of Nigerian assets last month, bringing total receipts of portfolio inflows to $2.3 billion. That compares with $3.9 billion for the whole of 2023.
CBN data also showed overseas remittances more than quadrupled to $1.3 billion in February, compared with $300 million a month earlier, Sidi Ali said in a statement.
"All the different measures we have taken to boost reserves and create more liquidity in the markets have started to pay off," CBN Governor Olayemi Cardoso said in the statement.
The CBN's series of measures to boost forex liquidity include limiting how much banks can hold in foreign currency, capping their net open positions at 20% of shareholders' funds, and outlawing street-trading of foreign currency.
Higher forex inflows have continued in March, Sidi Ali said, driven by increased investor interest in short-term sovereign debt after the CBN hiked its key interest rate by 4 percentage points to 22.75%, the highest in around 17 years to tame soaring inflation.
At the CBN's Open Market Operation auction on March 6 when it sold securities worth 1.053 trillion naira, bids from foreign investors accounted for 79% of the total, or $530 million, Sidi Ali said.
There’s almost too much research and analysis here but no real result whatsoever. Potential potential potential but never any real outcome. Does anyone think approval likely by month end?
Once in a lifetime opportunities
We have more access to capital than our competitors
It all comes down to your relationships now AK
IMHO time is running out for the next decent deal after 7E
No pressure
Helium1 have done just that in Tz.