Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
If someone could point me in the direction of a broker that will allow non UK residents to buy UK listed shares then potentially yes!
I can buy/sell BP with tiny spreads using my CFD platform, but Tullow spreads are simply enormous.
Storage already is effectively full. Worldwide.
Traders don't charter super expensive ULCC's to store oil if they can find a tank on land, which would always be much cheaper.
The US is the world's biggest consumer of gasoline, so if they aren't driving it's very important for the market.
But Europe isn't driving either, or flying. And the East is tentatively recovering.
Meanwhile, cargoes continue to flow out of the Middle East with no home to go to.
I think things will get nasty at the next WTI expiry too.
Now it's true that this should not have much effect on TLW SP, as a) it is a short term thing, and b) they are quite well hedged for 2020.
But as we all know, markets are all about sentiment and emotions and that will potentially weigh on the SP.
Perhaps other factors, asset sales etc, will help support and raise the SP. It'll be a tug of war.
https://oilprice.com/Latest-Energy-News/World-News/Mexicos-Pemex-Suspends-Fuel-Imports-From-US-As-Demand-Tanks.html
EnergyNewsToday also reports that PEMEX (Mexico national oil company) has chartered 70 tankers to store oil products that it cannot offload into the country as all storage is full.
Antharry, correct.
Just to put some balance on this;
UK has said 'no end of lockdown in sight'.
Social distancing measures through to 2021.
No European (or global?) tourist season in Summer 2020.
Spain, France, Italy, UK, etc. no 'normal' shops open and no timetable for that either.
Normal flights in Europe are a long way off IMO.
Let's not even get started on the '2nd wave'.
My feeling is that the 29mbpd demand destruction estimate is too low. April has seen drastically reduced transport and industrial activity.
Supply is STILL above demand and oil cargoes have about a 3 to 4 week 'delay' period, i.e. cargoes loading now were programmed in in early April.
Any cuts will not be significantly felt until end May.
Storage is as good as full, and even the stopgap solution of filling ULCC's is also now running out.
You only have to look at the tankers heading to the US from Saudi, and the fleet of ULCC's parked up in USGC and USWC, all full of oil to realize that things are still not looking good.
Yes, oil will recover, maybe we'll see a squeeze later in the year where it goes back above 40$, but it won't be happening any time soon.
Why not?!
Marcel, you make many good points that any balanced investor would be well advised to consider.
Be prepared to received hostility from those that simply will not consider any post that does not see Tullow over £1 in the very near future.
Bully, another analyst has Tesla at 70$ a share. I would tend to agree with him, as I think Tesla is a glaring short.
Longish, I'm English not American?!
Can you post that Bloomberg link? Yes oil shipping is super busy, and also super expensive as all the vessels are either in use or being used as floating storage. I can't see any way that there are 4000 empty vessels out there.
Possibly OBO's (oil and bulk carriers), but mostly these are not approved for transporting oil these days.
Xel, I kind of came to Tullow by chance, because it was the most active discussion board on oil, and that is what interests me most.
BP is a known entity to me, and low risk, so I don't need to discuss it to buy/sell it.
It wasn't just the risk factor putting me off Tullow, it was more the fact that I cannot (to the best of my knowledge) buy UK shares as a non resident. There must be some way to do it, but I haven't found it yet. If I could have bought that Tuesday morning at 16p I would have done so. And for sure I would have sold at 30p, as that kind of return doesn't come round every day.
4000 empty vessels? Where did you see that? Doesn't make sense.
Any spare vessel is being snapped up either for storage or to play the arbitrage.
https://mobile.twitter.com/uscglosangeles/status/1253570343815442432?s=12
20 MILLION barrels of crude sitting in tankers off USWC.
Guess not.
Mysteryguy, maybe have the decency to apologize?
Wasn't me!
FWIW, I made 7% on BP (not as good as your 50%+ I grant you that), then sold out.
Why?
Because I don't think the oil or the virus problems are anything like finished with yet.
If you look back to when TLW was 16p early this week, I said I wanted to buy some, but couldn't so chose BP instead.
Is that de-ramping? You are very selective with the truth.
Brent contract delivery terms are different to WTI, so the chances of Brent going negative are much smaller.