Member Info for chilting

PS is on her way to Scapa Flo - hook-up lasted 25.5 hours suggesting the load was around 500k.

24 hours and counting.

14.75 hours and counting.

The main thing to consider going forward is that virus cases are falling in China so hopefully they will start to get back to normal soon. Also the virus hasn't been so bad in the industrial south of the country.
We all know how industrious the Chinese are, so I guess they will be going full out to make up for lost production.
So that should mean that we see a big spike in demand for oil from China.

The consequences of the virus have been totally overblown now - the heat of Spring will see it off, just like flu.

What we are seeing now is the hedge funds exploiting fear - they are making a killing - pun intended - on their short positions.

As for Enquest I am quite sure that someone has been "controlling" the SP for quite some time in an opportunistic manner, running the SP up and down as fortunes change - its more than just fluctuations in the price of Brent.

Hook-up 06.30 GMT - 13 days since the last tanker left.

Now on its way south then east - first stop Malta - aboard the tanker North Sea - probably another load of bunker fuel for Singapore or the UAE.

Maybe the price of bunker fuel has held up better then Brent???

Thank you Therapist - the rig has now been positioned and the two positioning vessels are on their way back to Montrose.

No sign of the hook-up yet.

Squif
Its actually positioned more to the south south west at the moment but I guess it must be for the western flank.

Still no hook up AK is gradually rotating for a hook-up from the north west.

The rig seems to have been positions but the vessels that helped with the positioning are still at the field.

The market is still levelling out after having the froth taken out of it by the coronavirus - hopefully things will be clearer by the end of the week.
As for Ceres the SP probably would have fallen back next month when the half year results are published as is usually the case for growth companies - things always look better going forward than looking back.

Korg
Focus in on the company milestones - the new factory - forget the SP unless you are a trader.

No immediate sign of a hook-up - PS is just 12 miles to the north west of AK - the wind and wave direction is variable therefore hook-up could be from any direction depending on when they are ready - maybe 9-12 today as PS is positioned to the North West.

Work continues to position the rig.

Weather is very calm for the time of year until Saturday.

Some good news for a change !!!

Stena Don is currently being positioned by the two anchoring vessels - it looks like they are well on the way to completion.

PS is making excellent progress and is less than 14 nautical miles from AK and looks set to make a hook-up from the south west at a safe distance from the rig, maybe even before the morning.

The weather is very good at the moment and is set fine until next Saturday.

I wrote this is on December 5th last year, re OPEC.

"OK they have agreed some deep cuts but only for three months - it looks like a neutral move in the short term - in the long term absolutely useless and could even lead to a big fall in POO in the absence of further action - very disappointing!!!"

"Time will tell but I stand by my assessment - the worst thing in any market is uncertainty - just holding the cuts for 3 months creates that uncertainty and volatility that as we have seen before can produce big dips in POO."

Why cant these idiots get things right - we should have been in a much better place today if they had shown just a bit of foresight - these open ended short term fixes simply don't work.

I don't see much action positioning the rig - there are two positioning vessels and numerous safety boats just drifting around with the rig presumably close to her drilling position - maybe they are waiting for a third positioning vessel - they usually work in three's.

PS is on her way - due to arrive 23.00GMT tonight and should be OK to hook up tomorrow regardless of the rig - the rig is to the south east of AK - hook up will be from the south west or west.

The weather is set fine for the week.

Petroatlantic has only just hooked up with North Sea for a STS in Scapa Flo with load 59.

The most likely outcome is that the virus will be killed off by warmer weather in the spring - it will be killed by heat before it can spread person to person - just like flu viruses.

More to the point what would happen if Venezuela got its act together and ramped up production again.

I think most medical experts will be expecting the virus to die down when warmer weather comes - it simply gets killed off in the air by heat before it can spread.

I am looking for an entry point in CCL at the moment - if the theory is right that could rebound very nicely.

Simply coronavirus fears - looks likely that WHO will declare a pandemic.