Member Info for chilting

Another thing to note is that Ocado are not accepting orders from new customers at the moment.

"Please note, that in this time of unusual demand, we have made the call to temporarily prioritise deliveries for existing registered customers. We will not be processing new customer bookings for the time being.
We are very sorry to have to disappoint anyone that chooses Ocado, and we’re working hard to increase our delivery capacity."

If Brent does start to move up again Enquest will very quickly be an excellent recovery option - especially for investors who currently hold shares in companies that are severely affected by the black swan such as airlines etc.

Excellent progress.

https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/CWR/14461756.html

I still think that MBS's strategy is short term pain for long term gain.

The guy is an arrogant and ruthless opportunist - quite unlike any KSA leader that has come before him - he could crash and burn but I think that is unlikely - don't underestimate him.

https://www.aljazeera.com/news/2018/10/mohammed-bin-salman-dark-side-saudi-arabia-crown-prince-181015123719153.html

Not at the moment, but maybe in the future hydrogen can be used to power the steel industry -

"This additional funding will enable Ceres to invest in additional R&D activity to apply its technology as a Solid Oxide Electrolyser (SOEC) to produce hydrogen and e-fuels. Electrolysis with Ceres' technology could use low cost electricity and, unique to higher temperature electrolysers, waste heat to convert water and carbon dioxide to high value chemicals such as hydrogen and other synthetic transport fuels, precursors for fertilisers and replacements for other petrochemical products. High temperature electrolysis can potentially play a significant role in the decarbonisation of the "hard-to-abate" sectors like steel, other industrial heat consumers and even aviation."

https://www.lse.co.uk/rns/CWR/bosch-to-increase-holding-in-ceres-power-to-c18-p38cegizik62cqy.html

I think that it is a good time to remind ourselves that we are probably all overreacting to current events - a type of hysteria had developed - the actual definition of a Black Swan Event should remind us of this -

"The black swan theory or theory of black swan events is a metaphor that describes an event that comes as a surprise, has a major effect, and is often inappropriately rationalized after the fact with the benefit of hindsight."

I just got this message when I tried to access the web store -

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It wont just be nations that realise that they have got to adapt - ironically it could be the oil majors that become the biggest movers into green hydrogen, as we have recently seen with the new green hydrogen plant being planned in the Netherlands by Shell.

Oil companies are ideally placed to make the transition from oil refining to green hydrogen production utilising the same sites, infrastructure and labour. ITM's tie up with Shell is only the start.

https://www.hydrogenfuelnews.com/massive-green-hydrogen-plant-headed-to-netherlands-via-shell-and-gasunie/8539424/

The trouble is that its not just about economics now - if it was logic would rule - this has got far to political so the logic has evaporated.

Taverham
Yes, certainly but once MBS and Putin have knocked out the US shale industry they are free to manipulate the oil price - I guess we could even see Brent at $70+ by Christmas.

When the US realises that it can no longer dictate the oil price - as it has been for the last 3-4 years by flooding the market with oil from shale - that is when alternatives will be considered.

My point is that the US wants and to a certain extent needs to be energy self sufficient - if it cannot achieve that aim with oil it will quickly need to find an alternative.

The move by the Saudi's and Russia to flood the market with cheap oil and push the US shale industry into bankruptcy has to be very good news for all forms of alternative energy.

If the US shale industry does get badly depleted and the US is no longer self sufficient in crude as most analysts expect then we also need to look at the long term effect this is likely to have.

In the medium term we are likely to see a very healthy spike in crude prices.

However, in the long term the US will realise that the game is up with oil and that will have the effect of giving the alternative energy market a massive boost. This effect will be even more pronounced with a democrat in the Oval Office with all the adverse environmental effects that shale oil and tar oil bring.

So Green Hydrogen is well placed to get a funding boost - especially if Biden beats Trump in the autumn.

If the US shale industry does get badly depleted and the US is no longer self sufficient in crude as most analysts expect then we also need to look at the long term effect this is likely to have.

In the medium term we are likely to see a very healthy spike in crude prices.

However, in the long term the US will realise that the game is up with oil and that will have the effect of giving the alternative energy market a massive boost. This effect will be even more pronounced with a democrat in the Oval Office with all the adverse environmental effects that shale oil and tar oil bring.

So the next big spike in oil - after the over supply issue has been fixed - could be the last one.

I guess that the break even is lower for Kraken, Magnus and Malaysia and much higher for some of the low production fields.

There could be a case for halting production at some of the low production fields if Brent stays low and then bringing them back into production as Brent rises again.

I think that the UK O&G industry will be on its own now - sink or swim - the climate change lobby would fiercely contest any support for the industry and with Cop26 coming up in Glasgow in the Autumn the Government would have little choice but to ignore any requests for assistance.

After a 32 hour hook-up it looks like HK will be on her way to Rotterdam very soon - draught is recorded at 12.9m.

In total the hook-up has lasted 29 hours and counting.

HK is a large shuttle tanker so its possible that this load could be larger than normal - especially as there was a longer than usual interval between this load and the last.

It doesn't look as though HK is heading for a STS, so hopefully she could be taking her load to Rotterdam for bunkering to get the best possible price deal.

HK hooked-up for the third and final time at about 10.00GMT - total hook up to date is 24 hours and counting.

Yes, brokers are certainly very quick to revise price targets down when Brent drops but I haven't seen the same urgency when Brent starts to rise again - they are devoted followers of the Black Swan - volatility equals profit for their banking masters.

Its the ultimate stress test!!!