Member Info for chilting

Hello MO So basically Alma/Argyll is the ultimate test of AB's strategy of taking on depleted fields and squeezing them dry ??? I guess this is something ENQ should be very good at - taking the oldest field in the North Sea and making it commercially viable again.

ENQ hopefully will have a golden opportunity to deliver a massive SP improvement. Simply by announcing AK's final commissioning when POO finally bounces !!!

Regrettably I think the whole market has been badly phased by a certain Mr Trump and uncertainty rules the day. Its probably best not to look at the SP at the moment - just take a deep breath and do nothing. When the dust finally settles we could have another excellent buying opportunity.

Here a very good contender for transfer tanker - https://www.marinetraffic.com/en/ais/details/ships/shipid:5068721/mmsi:249984000/imo:9765017/vessel:SEAROVER

Yes, Heather was 600k on her last load I think.

Heather has a big belly - it could easily be 600k

Go away for a day and the SP is even worst !!! Anyway - GOOD NEWS !!! Heather is on her way - ETA 01.00 BST on Saturday.

My favourite is Heather Knutsen - empty out of Rotterdam. https://www.marinetraffic.com/en/ais/home/centerx:4.3/centery:52.2/zoom:10

Latest from daily FX - Crude oil: Initial spike higher in Brent crude after OPEC source reports noted that OPEC is considering boosting production by around 300k-600k bpd, which is a lot less than the previously touted 1-1.5mln bpd. Additionally, given that the market has roughly priced in around 500-700k bpd increase, this has been perceived as relatively good news. Headline risk remains high in the run up to OPEC’s meeting on Friday. Outlook for WTI has changed from Bearish back to Mixed.

Yes, hopefully not for the next load though !!!

No, to both of them Kraken - Petroatlantic is just contracted to one field west of Shetland and Oslo is only a small tanker and services smaller fields like Catcher.

I am sure that fans of Navion Britannia will be relived to know that Britannia still rules the waves. It seems that she probably had a refit in Sri Lanca. She is currently moored off Columbo

Increase at that level is already priced in - if true POO could bounce.

That's better - POO just jumped. $74 $64.75

POO $73 $64 - just waiting for news !

The bottom line is that an increase of 500k-700k bpd has already been priced in, so a larger increase would have a bad effect on POO. It seems that this is also the increase that Saudi want. Russia want more I guess because they are flexing their muscles and want more market share so maybe there will be a balancing deal between Saudi and Russia in return maybe for some nuclear technology that Saudi wants. We are looking at a turbulent week but by this time next week hopefully we will be looking for a big bounce on Monday 25th June

Yes, totally agree OldRascal - that is what makes SXX such a great punt for private investors but I do fear for those that invest all their savings here.

The next few years run up to the start of production have the potential to be very fraught. All will be well if construction continues to plan but if there are significant delays expect the SP to react very badly. SXX is still a gamble for that reason and many investors will wait, especially the institutions, until production starts before they invest. The SP will shoot for the stars when production starts.

The Russian statement is actually meaningless, what he actually said was a 1.5 million increase over an extended period of time without giving the time frame - although some commentators have misquoted this as a 1.5 million increase in Q3 2018 - rather different !!!

This Reuters story speculates on the level of production increase but comes to no conclusions - note where the 1.5 million barrrel boost quote comes from. https://uk.reuters.com/article/us-global-oil/oil-slumps-3-percent-on-opec-supply-chinas-tariffs-idUKKBN1JB02O