Member Info for Auson

'The OGPM will apply an additional tax rate of 35 percent on sales of hydrocarbons above price thresholds of $90 per barrel for oil and 90 pence per therm for gas (to be adjusted annually in line with Consumer Price Index (CPI) inflation).

The tax will apply on a transaction-by-transaction basis to any disposal of oil or gas with a disposal value above the thresholds. Natural Gas Liquids (NGL) will be treated as oil for the purposes of OGPM.

The Government acknowledges the implementation challenges, notably tracking hedging outcomes, and will consult with industry to balance administrative feasibility and achieving policy intent.

OGPM has no end date and will be administered to the extent possible alongside corporation tax. The Government intends to legislate for the OGPM in Finance Bill 2026-27.'

No one is going to take HBR over while the EPL is in place.

British Chancellor betting odds today.

Wes Streeting 2/5 odds

Ed Silliband 3/1 odds

Yvette Cooper 8/1

If you were to bet on these two outcomes, 3/1 represents a 25% implied probability of winning, whereas 2/5 represents a 71.4% implied probability.

Large trade at 242.6p the days high !

Talk of stamp duty being axed would be great for the property market.

I would have thought Iran not going to want any US or Coalition of the willing naval vessels in the Straits, and if when they choose to allow it.

' The operation by conventional minesweepers and state-of-the-art underwater drones could continue for 40 to 50 days before many insurance, shipping or oil companies are confident enough to sail through, according to assessments from five Western maritime security sources.'

https://www.timesofisrael.com/operation-to-remove-iranian-mines-from-strait-of-hormuz-could-take-weeks-experts-say/

Advfn is showing 3.7m volume today average looks to be around 6.5 to 7m over last month there with some 10m days.

Poland’s government has approved a one-off windfall tax on fuel companies that benefited from soaring energy prices during the U.S.-Iran-Israel war, seeking to recover part of the billions spent protecting consumers from higher fuel costs.

The proposed levy would impose a 60% tax on excess profits generated between March and December 2026, during the closure of the Strait of Hormuz. The Polish Finance Ministry estimates the measure will raise around 4 billion zloty (~$1.1 billion).

Under the proposal, excess profits would be calculated using fuel sales margins that exceed a company’s average 2025 margin by more than 20%, reflecting profits from an extraordinary geopolitical supply shock instead of improved business performance.

From May trading statement

'Post period end in April the difference between Dated Brent (which most of our crude is priced against) and the front month ICE Brent future increased to $18/bbl versus $3/bbl in Q1 2026'

Sekforde,

What have you got for Enterprise Value 27th Feb vs today something like £8.28b end Feb to £7.44b today ?

A US Apache helicopter which crashed near the Strait of Hormuz last week was involved in a mission to transfer oil out of the Middle East.

The crash happened during a patrol off the coast of Oman at about 3.30am on June 9, the US military’s Central Command said in a later statement.

A new investigation from Reuters has now revealed that the helicopter was actually involved in a US military operation, which allegedly transferred oil from ship to ship to keep energy exports flowing.

The operation, overseen by the US military, also ‘utilised aerial and water drones to guide oil convoys’ to waiting tankers.

Initial estimates from Reuters calculated that at least 90 million barrels of crude oil may have been transferred in the US-linked operation since May.

'the squeeze is accelerating and SPCX hit just shy of $230, or $3 trillion in market cap, surpassing MSFT in value.'

'And what is even crazier, tomorrow SPCX options start trading, which means one good, solid gamma squeeze could send this stock to $400, surpassing NVDA as the world's biggest company in the process.'

https://www.zerohedge.com/markets/spacex-erupts-after-hours-trading-soaring-above-210-and-surpassing-apples-market-cap

Over the next 60 days, Tehran will guarantee free passage through the strait, but after the ceasefire extension period is over, ships will be required to pay tolls to cover security, navigation, environmental and insurance services.

The eleventh-hour change comes despite US President Donald Trump stating the vital waterway, set to reopen on Friday, would remain 'permanently toll-free'.

Vance, however, said he expects the Strait of Hormuz to be toll-free in the long term. He told CNBC: 'Our expectation is that the strait is going to be opened in a toll-free way for the long term, and that's the sort of thing that we're going to figure out in these technical negotiations.'

Space X IPO raised $85.7 Billion of that $20 Billion will be used to repay bridge loan SOFR plus 0.75 - 1.75% and XAI and X debt at 9.75 to 12.5% interest $1.16 Billion in cash pre payment penalties making a $1.56 Billion accounting loss at extinguishment.

https://capefearadvisors.substack.com/p/spacex-adding-it-up-the-235-billion

Dan222,

Regarding future cash flow numbers in theory Harbour could hedge 100% at forward prices so it is worth the bother even if the future is unpredictable.

Tokugawa,

If the US/ Israel did want to bomb terminals and either take or damage Kharg to push for regime change via the Kurds this 60 day MOU would be a great ruse to free the stuck ships and sailors, unblock the straights and get oil price down so when they did attack oil might only spike to $120 again not to $200.

IRAN MEDIA REPORTS ON DRAFT AGREEMENT WITH USA — 7 POINT MEMORANDUM.

If true, this is worse than Obama’s deal.

Iran to receive $24B in frozen funds and $300 billion in Reparations.

Iran will continue charging tolls on Hormuz.

CBS News confirms reporting from Iranian media, Mullahs are giving up nothing.

President Trump issues new statement.

President Trump wants 50% increase in Military budget — all borrowed money.

Dozens of overnight headlines from Iran.

Barratt Redrow plc AQR Capital Management, LLC 0.48% -0.11% 10 Jun 2026

Barratt Redrow plc Capital Fund Management SA 0.59% -0.07% 10 Jun 2026

Its ridiculous, the only explanation is its part of a threat to push Iran to a deal. Knowing Iran I doubt that will work and if they do attack with troops telegraphing will put US lives at risk.

'JUST IN: 🇺🇸🇮🇷 President Trump says the US will take Iran's Kharg Island and "assume total control of their Oil and Gas Markets."

Kharg Island handles 90% of Iran's oil export.'