Member Info for foxm

Japan of course was one of the biggest users of Orimulsion back in the old days, so emulsion fuels will not be anything new to them. http://www.bnamericas.com/en/news/oilandgas/Japan_to_Invest_US*150mn_in_Orimulsion_Production http://www.frost.com/prod/servlet/market-insight-print.pag?docid=HTHR-5A5N9Z

After Fukushima it rose significantly to well over 15%, but it's dropping back again. Still about 25GW though.

Lots of smaller ones in Japan too, 32 in total according to this list. http://globalenergyobservatory.org/list.php?db=PowerPlants&type=Oil

9 of the 10 largest fuel oil power stations in the world are in Japan. The only one which beats Japan is Shoaiba, but we've hopefully got that one covered too. https://en.wikipedia.org/wiki/List_of_largest_power_stations#Fuel_oil

Especially if the final clue was Brookie McBrookface.

Good new from Saudi and we could do a PYC

This is hopefully just an amuse-bouche for the main course which will be arriving shortly - Saudi.

PC yes and phone yes, but to find QFI on your phone you have to scroll the screen over to the right to see them. Without scrolling you only see the first half of the companies listed in alphabetical order, A to M and then A to L.

Short-term this purge will increase volatility, but I think it's positive for the long term and positive for QFI, MBS is the main driver behind Vision 2030, it's his baby and MSAR fits in perfectly with that vision. http://newsweekpakistan.com/saudis-seek-to-ease-investor-concerns-after-royal-purge/ By the looks of it Aramco's spending isn't going to stop any time soon either, I hope some of next year's $100 billion is ear-marked for emulsion fuels. https://oilprice.com/Latest-Energy-News/World-News/Aramco-To-Spend-100-Billion-In-Capital-Expenditures-Next-Year.html Is there any possibility this UKEF $2-billion loan guarantee could have anything to do with us, the one which thehog2 posted about last night on iii? Or am I seriously dreaming here? Probably the latter. It won't do our relationship any harm though. https://oilprice.com/Latest-Energy-News/World-News/UK-To-Provide-2B-Loan-Guarantee-To-Saudi-Aramco.html From Wiki - UK Export Finance is the operating name of the Export Credits Guarantee Department (ECGD). ECGD's aim is to benefit the UK economy by helping exporters of UK goods and services to win business, and UK firms to invest overseas, by providing guarantees, insurance and reinsurance against loss, taking into account HM Government�s wider international policy agenda. The largest part of ECGD's activities involves underwriting long term loans to support the sale of capital goods, principally for the export of aircraft, bridges, machinery and services; it helps UK companies take part in major overseas projects such as the construction of oil and gas pipelines and the upgrading of hospitals, airports and power stations. Support can be given for contracts as low as �1,000, but some of the projects ECGD backs go well beyond the �1 billion mark.

hereweare, it is perfectly feasible that the project will start before the end of the year and go on until Aug/Sept 2018, it's the nature of the trial in KSA, what's involved in it. It's just not possible to do it all in 3 months, maybe some people have misunderstood that. I think their original plan was to commence around Oct 17, the start of Q4 and finish at the end of June 18. If we are a few months behind schedule it might be July next year before the trial burn commences. The circular document which went out for the Open Offer last year stated it would be a 45 day combustion test, but some other slides have said it would be a 2-3 month commercial trial. From another presentation slide last year they stated "For a 400MWe trial, ~1 million barrels MSAR is required typically". That equates to ~140,000 tons, which would take almost 5 months for one MMU to produce. The whole production to combustion trial was always going to take 8 or 9 months from start to finish. Unless Fyoz and his theory of a jumbo-MMU turn out to be true. You are correct that this presumes the MMU is installed already, but given the fact that Petro Rabigh was recently shutdown for a month and we were told the project is ready to commence as soon as contracts are signed, I would be very surprised if it is not.

Where do you get the delay until the end of 2018 hereweare? If the MMU is commissioned by the end of the year and contracts signed, MSAR production can begin. Production might take 5 months, give or take, then it has to be shipped by tanker to Shoaiba, so the combustion trial can begin at the start of H2 2018. The trial burn is only scheduled to be 45 days, so could be finished by mid-August. Even back in May this year at the World Fuel Oil Summit in Athens, the presentation given by Jason Miles stated that the KSA trial was "to be completed by end 1H 2018, Insh�Allah". So there's been a few month delay added to this.

You are completely correct PH, I hadn't done much looking into MMUs before, but they probably are easily scaleable as you say - http://www.enh.dk/Emulsion%20plant%2010-12%20th%2040%20ft..pdf

The standard MMU we have at the moment produces ~350,000 mt/a, and we know that one 400MWe boiler at 75% capacity consumes around 1 million tonnes/year of MSAR�. There are 14 of these boilers at Shoaiba, so if they wanted to produce enough MSAR at Petro Rabigh to power the whole plant they would need 42 MMUs installed. That's a massive footprint, I know they come in a standard container, but I presume they can't be stacked on top of each other, so they would need a lot of space. That would put some weight behind your theory Fyoz, the only fly in the ointment I can see is the planned start date of the combustion element of the trial being H2 2018, as they sneaked in towards the very bottom of the Final Results. If the trial was going to be using a larger and more powerful MMU, they wouldn't need 5 or 6 months to produce the fuel, as the H2 2018 date would suggest. We should find out soon enough, we've been waiting for this "update in due course" for months and I guess the BOD would want something to sing about before the AGM in 4 weeks time, or it might be quite a harrowing experience for them.

stumpy, the refinery where the MSAR will be produced and the power plant where it will be burned are over 150 miles apart, the plan was always to use a tanker to transport the fuel between them. https://goo.gl/56RcAV All of the crude oil and HFO which Shoaiba currently burns arrives on tankers, it's the normal mode of operation. http://www.power-technology.com/projects/shoaiba/

If there is a placing soon, I wonder if all the QFI staff would contribute a combined �550k to it this time round?

Berty, if you go to the AGM could you please ask what the hell Mark Whittle does to earn his salary? Sweet FA it appears to me. Almost two and a half years he's been there now and how many Refinery contracts have we signed? Those should be low-hanging fruit compared to Power and Marine. How he managed to escape the recent cost cutting program I'll never know. Although given the further delays in KSA, maybe they were right to get rid of Sam after all. I just hope after Saudi contracts get signed the SP goes high enough that we can get another placement away, we're probably going to need it. I'd be more than happy with another 60 million shares issued at 5p right now, it would give us a buffer we desperately need.

almost guaranteed, an odds-on certainty. https://www.facebook.com/gofigurediet/ "Max is proud to announce that Optibiotix, our parent company, has reached a deal with Tata (>$100bn revenues) to incorporate SlimBiome into products for the Asian market. We are sure that GoFigure will be part of the drive to combat the growing problem of diabetes and obesity in India." Posted an hour after the market closed, if there is no official news in the morning then Max would be pushing his luck posting price-sensitive info like that. He presumably knows the RNS is ready for release though, I don't think he's that dumb. Perfect timing to get rid of the overhang today, could see a spike into the 80s or maybe even the 90s tomorrow by the end of play.