Member Info for chilting

This is interesting - Britain's richest man Jim Ratcliffe of Ineos is in talks to buy a 6% stake in the Claire Field from Conoco worth $3 billion.

https://www.bbc.co.uk/news/business-46256117

It looks like the henchman and his faithful subordinates are going to make the ultimate sacrifice for their Prince.

Plus maybe a few others that have offended the House of Saud.

Maybe they should get Trump over there so that the victims can gaze in the eyes of the infidel when they get the chop.

Environmentally friendly Itaconic acid has a multitude of uses in industry hence the huge disruptive power of the Itaconix product portfolio.

The main thing that Itaconix have managed to do is to bring projected production costs down to match existing technologies costings.

At least 75% of the shares are with big backers like Woodford and IP - Woodford in particular is a big champion of disruptive technology.

https://www.businesswire.com/news/home/20180328005486/en/Global-Itaconic-Acid-Market-2018-Forecast-2022

Funding will depend on how quickly the existing product portfolio takes to get to market - the reason for the summer fund raising was more or less down to the fact that this was taking far to long.

The trouble is that the big multinationals who ITX are dealing with take such as long time to make decisions especially when they are in changing product formulations to include Itaconix products.

But as with all disruptive technology that is powered by environmental factors they will have to make the jump sooner rather than later - especially when they are EU based.

The trouble is that they don't usually defy the odds - there has to be something solid behind the company- even if you have to wait a considerable time like quite a few of the long term investors who post on this blog.

Sirius is a success story but more often than not it ends like this -

http://www.lse.co.uk/SharePrice.asp?shareprice=JPR&share=JOHNSTON_PRESS

An excellent time to buy in here for the long term before all the negative feelings over Brexit evaporate - I did today.

Hopefully we will get to keep the Customs Union and Single Market thanks to opposition amendments when the Brexit Bill comes to Parliament.

An excellent time to buy in here for the long term before all the negative feelings over Brexit evaporate - I did today.

Hopefully we will get to keep the Customs Union and Single Market thanks to opposition amendments when the Brexit Bill comes to Parliament.

I see that five of the usual suspects are now moving in to relocate TL to Kraken

https://www.marinetraffic.com/en/ais/home/centerx:1.7/centery:59.6/zoom:11

Although slightly under par at least we are seeing reasonable consistency now - my guess is that they still have issues with the water injection rates, hence the consistently lower production. But that is something that can be worked on.

It has to be remembered that this is still a fairly new technically challenging project producing heavy oil.

The main thing is that the big players now seem to be on board with the aim of balancing supply and demand.

The big problem as always is the US who will carry on producing regardless - even if some are producing at a loss.

I guess we just have to accept that there will be occasions when things get out of kilter.

The bottom line going into 2019 now seems to be that OPEC and Russia will be much more proactive and aim to hold Brent around the $70 mark - so the pain of the last few weeks seems to have had some reward.

I think todays reaction by POO to the EIA data will give you an answer to that regardless of the actual size of the build.

The lesson learned today has to be that even when the update is good, if all around you is falling apart the net result will be a falling SP.

That brings us to what is going to happen when the EIA data comes out at 4pm this afternoon ???

EIA data is late this week - US holiday last Monday - due 4pm tomorrow afternoon.

I think the reason for the bounce was when the International Energy Agency kept their demand forecast for OPEC oil unchanged for 2019 - a slight respite.- maybe ???

We have had massive dilution since then when ITX ran out of cash during the summer.

The potential hasn't changed since then and news of the game changing AkzoNobel is due before Christmas - hopefully a licencing deal.

From Reuters

"In its monthly oil market report, the Paris-based IEA left its forecast for global demand growth for 2018 and 2019 unchanged from last month at 1.3 million barrels per day (bpd) and 1.4 million bpd, respectively, but cut its forecast for non-OECD demand growth, the engine of expansion in world oil consumption".

A ray of good news !!!

https://uk.reuters.com/article/uk-oil-iea/global-oil-market-faces-surplus-throughout-2019-as-demand-slows-idUKKCN1NJ11Q?il=0

Brent just shot up a dollar !!!!!!

When did Saudi ever react quickly to a situation - think back to Autumn 2016.

The deal with AkzoNobel could be licencing deal so the fortunes of ITX could change very fast !!!