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It hasn't made much difference to the SP but the volume is up substantially today - the highest since the Iranian attacks on Saudi oil infrastructure back in mid September - 12,884,252 with about 10 mins to go.

RBC Capital Markets raises its recommendation for Enquest to sector perform from underperform. The target price is raised to 24 pence from 20 pence. The stock closed at 17.90 pence on Wednesday and at SEK 2:22 in Stockholm.

The stats though give a rather strange picture -
PMO Trades
502
Vol. Sold
975,980
Sold Value
£867.65k
Vol. Bought
679,369
Bought Value
£603.96k

ENQ Trades
80
Vol. Sold
271,875
Sold Value
£48.56k
Vol. Bought
469,399
Bought Value
£83.83k

Work that one out!!!

Myo
They are a world leader when it comes to fertiliser coatings - look at their Osmocote range for example - we could even see a slow release range containing polyhalite in the future aimed at the high spend horticultural sector - that would probably sell at around £70 - £100 per 25k wholesale.

Its seems that ICL have developed what is basically the same product as Poly4 - a spherical uniform sized ball of polyhalite that is capable of being blended with other fertilisers and one that farmers can spread much easier through spreaders.

They are calling it Polysulphate Premium - the only difference may be the coating - SM have the coating for Poly4 that they plan to use protected by patent.

https://www.iclfertilizers.com/news/introducing-polysulphate-premium

The latest load aboard the Eco Bel Air is heading for Rotterdam with a draught of 12m - this confirms the load at around 525k.

Load 51 also went to Rotterdam and was unloading at the BP terminal - this way I think slightly larger at around 550k.

Load 50 went to a ship bunkering specialist at Rotterdam and may have been in excess of 550k.

By Friday evening we should get a very clear indication of where Brent is heading in 2020.
The Saudi's clearly want to cut production with the Aramco sale ratcheting up but it remains to be seen if Russia will go along with the proposed cuts. The Saudi's say they want to surprise the market - we shall see.
American shale companies are in a bad place but production doesn't show it - we can only assume that they will continue to steel market share.
China is the wildcard - there economy could take off again despite US tariffs - however they are the worlds 4th largest producer and they plan to increase production by 50% over the next 5 years.
Also demand in the rest of Asia continues to rise strongly so the supposed oil supply glut may not be a glut at all - who knows?

Yes, this article sums up very nicely where we are at the moment - everything is still to play for with dilution maybe having less of an impact than first feared.

Polyminer
If Boulby and Woodsmith were in the same ownership, would it work if Boulby maxed out production for say the next ten years allowing a longer time for Woodsmith to be developed and brought into production at a cheaper capital cost. Then when Boulby became depleted or uneconomic all resources, including the workforce, could be switched to Woodsmith to bring it up to full production.

The technical chart is good - not showing resistance until 4.43p - so seems to indicate plenty more upside.

http://uk.stoxline.com/q_uk.php?s=sxx

"ICL will cease to be the sole producer of Polysulphate, and will not be the market leader, which is inconsistent with the Company's strategy to obtain leadership positions in all its activities. ICL is constantly monitoring the competitive environment and will continue to seek ways to adhere with its strategy"

As I have always said the most logical and best outcome for all would be a partnership between SM and ICL with Boulby ceasing production as Woodsmith ramps up. That would give revenue from day one with ICL's polyhalite sales thrown into the mix. It would mean serious dilution but probably only one hit, but the company should show profits much quicker.

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OPEC discussing deepening current oil cuts by at least 400kbpd until June - OPEC sources #OOTT

The run up to Christmas in 2017 was very poor with low volume - similar to this Autumn - then in January 2018 the volume shot up and so did the SP. Although Brent was rising at the time this rise did coincide with a period of high production at Kraken.

History has not repeated itself this time - at least not yet - I wonder why?

The problem is the same one that has held Itaconix back for several years now - simply that the big corporations they are dealing with take so long to bring new products to market - commercialisation will come eventually but it may take some time - just hope that another equity raise isn't needed in the meantime.

Hello MO
She is on her way to Scapa Flo now - after just over 24 hours - with a draught of 12.5m - so we have around 525k of crude.

23 hours and counting.

One word of caution - the weather in the North Sea, especially around Shetland, has been very calm this autumn with very few storm days. This would have certainly have helped production.

If we have a spell of stormy weather now production may start to slip a bit - especially if some of the Kraken hook ups are delayed.

14 hours and counting.

Hook up was 18.00GMT not 17.00GMT.

Hook up is recorded at 17.00GMT