Zenith Energy Share Price (ZEN)

If the Annulment for ICC-2 is approved and the verdict is given, they will have £130m in their back pocket and delivered much sooner than ICSID. As he said in the recent interview, none of the arbitration cases are linked, each case is heard as a separate entity. Also not forgetting, all three arbitration cases are self funded. Which means we get 100% of all awarded proceeds less recovery costs.

No placing its all on icsid now

Sounds like another excuse for a placing.

Not sure this will necessarily enhance shareholder value. Strikes me that AC’s principal motivation is doing deals. I thought the direction was away from fossil fuel extraction. They should wait until they have at least something material to show from Tunisia before further indulging and committing shareholders to more dilution.

California has slightly over a dozen operating oil refineries. These facilities are heavily concentrated in three primary regions: Los Angeles County, the San Francisco Bay Area, and the San Joaquin Valley.

However, the state's petroleum refining sector is currently undergoing a period of rapid decline and consolidation due to market changes and state regulatory shifts. Several facilities have recently shut down or converted to renewable diesel and biofuel production.

Oil arrives at California refineries primarily through marine tankers, in-state extraction pipelines, and imported crude/refined products from overseas. With in-state production declining, the vast majority of refining feedstock arrives via water.

Marine Tankers (Imports): Over 60% of crude oil processed in California is imported via marine vessels. Tankers deliver crude from countries like Saudi Arabia, Iraq, Ecuador, and Colombia to deep-water marine terminals, while domestic shipments arrive from Alaska.

In-State Pipelines: About 20% to 25% of the state's oil supply is sourced domestically. This heavy crude is pumped from inland extraction fields (primarily in Kern County) and transported via a network of regional pipelines directly to coastal and inland refineries.

Refined Product Imports: Due to a lack of interstate crude pipelines and declining refinery capacity, California increasingly imports already-refined fuels (gasoline and jet fuel) from international locations like India and South Korea, or via a route through the Bahamas.