Member Info for chilting

Its a serious point gkb - the west won't be held to ransom by Putin and MBS - if western nations cannot get access to cheep oil they will look for alternative energy forms.

After all this I guess we are going to see a big spike in the price of oil sometime in the next couple of years but that could be the last big spike.

Even long term holders need to exit sometime - look for the top of the spike and exit.

Rocka
My slot arrived out of the blue and that was for the next day - it seems that if you regularly check the web site eventually you will get a slot - probably within days.
I was speaking to the driver and he said that people were starting to order a bit less, therefore they could get more deliveries on the van - usually that get about 24 but that dropped to just 10 but has now crept back up closer to 17.
My stupid comment about the size of the warehouse was wide of the mark but maybe they will have to consider increasing the capacity/ size of the delivery vans in future.
Also the drivers seem to be travelling a lot between drops - the software doesn't seem to be able to target say a postcode down to the first four digits.
So I think they Ocado have got room for improvement.

From a simply strategic point of view it could be argued that the UK Government should be looking for alternatives to oil and gas that can be produced in the UK - such as Green Hydrogen - I guess that the US will be thinks along the same lines as well.

Commercial green hydrogen is a lot closer than many people think - its only sea water, carbon dioxide and wind power.

13.25 hours and counting.

I thought that you were a true capitalist gkb - why are you arguing for Government support for the NS oil industry?

You will be saying that Trump should bail out shale next.

The theories certainly abound - I think that its true to say though that Brent could be anywhere in the range of $20-$40 by next week end and that there are sound theories to support anywhere in that range - I don't think that we could have said that at any time in the past.

gkb
Has to be MBS - I think that's the deal - all OPEC+ win anyway - US shale is crushed - for the time being anyway - then it depends if Trump or Bidden wins in November - that could be the most important result of the year for Brent.

I would imagine that many office workers would love to continue working from home, at least for part of their working week - especially if they have a long and expensive commute by train into London - in the age of superfast broadband that could be a great option - it will be interesting to see if a trend develops.

The situation in the UK is that businesses that are still able to trade and work are still active - consumer demand is still very strong - the Government has bailed out some businesses that are badly affected and will certainly bail out more - Government has picked up the wage bill for 80% of wages for badly affected businesses.

The net result of all this is that by Q3 if the effects of the virus have diminished the country should get back into growth quite quickly. However, the Government has funded all this by quantitative easing so some where down the line we will see inflation.

One consolation for Enquest is that even with the coronavirus recession there will still be demand for Kraken crude as bunker fuel - hopefully at above $38 break even.

All the loads now seem to be heading for use as bunker fuel to Rotterdam, Singapore or Fujairah.

Well that was always on the cards - pressure will now be ratcheted up on all sides - it looks like they are going to have another go on Thursday 9th April - Brent could be anything from $20 to $35 by next Friday - more than $35 if you are a real optimist!

We have a hook-up - around 06.00GMT - 07.00BST.

This may turn into another two stage hook-up - the weather looks quite rough overnight into Monday and NO is quite a small shuttle tanker.

Navion Oslo isn't due at Kraken until after midnight but she is already part way from Orkney to Kraken and travelling at over 14 knots - maybe we are going to see an early hook up.

The last tanker left on 26th March but that has to be adjusted to the 23rd because of weather delays - so 12 days.

The weather looks a bit marginal later on Sunday - NO is only a small tanker - so that could explain an early hook up - if they are ready?

This image should not be open when you are eating your breakfast - it is simply a PPE suggestion for Trump.

https://www.theguardian.com/artanddesign/2019/sep/26/klaus-enrique-best-photograph-donald-trump-mask-made-from-pig

Latest comments - from BBC News

22:55
Trump will keep energy companies in 'good shape'
Mr Trump met with energy companies earlier on Friday. He said he will work to keep these companies - hit by a drop in oil demand due to the pandemic - remain afloat.
The president said oil giants may store their excesses in the US strategic reserve, the government-owned supply of emergency crude oil.
Mr Trump added these companies have "really kept America going for a long time", and "for all the good" they do, the administration would keep them in "good shape."

The slots are coming up on a next day basis - if you keep checking you will find that you can eventually get onto the website and process an order.

My order came tonight he was a bit late but everything was there and there were no issues.

One thing they might need to tweak to the delivery system is to get customers on delivery runs closer together - the drivers are doing a lot of running around between drops.

If shutting down GOM is Trump's way of cutting US production then so be it - now we need OPEC+ to announce their cuts - along with other oil producers as well - including Norway and even the UK by stopping production at uneconomic fields like Thistle - then the long road to recovery can begin.

Londoner
Its a simple fact that cuts by OPEC+ have been the main thing that has supported the oil price over the last 3 years or so - they have cutting as the Americans increase production.

Any agreement now will I think be dependent of production cuts in the US - I know it will happen anyway but there needs to be some symbolic gesture by Trump to reinforce that stance - he has to be seen to do his bit.

One thing - its in no ones interests for the oil producing countries to do a bad deal - they all have to agree to meaningful cuts.

It would be better not to do a deal at all than to do a short term fudge - that would simply keep crude low for an even longer period.

I would back up Mondo's comment - my order last night was for next day delivery and it has also been acknowledged with no subs - my order is due this evening.