Member Info for Krakenoil

Confirmed the tanks will be dropped as a unit, production to re-start in Q1. Hands up I was wrong .

The carbon foot print of EV is humongous compared to conventional vehicles. How will they recycle all these batteries that need replacing after 5 -10 years ?

It’s just utter madness, what the hell are they trying to do ? In a way I hope Opec and Russia open the taps and drive them into bankruptcy, but that ruins us as well. They are bullying every producer across the globe.

Crude +6.0M
Cushing +1.3M
Gasoline +1.1M
Diesel -2.3M

I think we have another couple of weeks before China returns to some sort of normality and oil prices stabilise, we need Russia to agree to the cut as we now have almost a months worth of over supply about (Between 20 - 60m barrels) to burn through this year before the market rebalances, If Trump sells another 15m barrels from his SPR then its going to take even longer.

Last push down hopefully then the big push up. Well let’s hope so.

More pain tomorrow if we get another build API

I think the Russian's want to hand the US producers their arses this time round. I don't think they will cut at all. They want blood.

Someone please explain to me why Brent is falling faster than WTI. Shale is the one flooding the market

https://www.bloomberg.com/news/articles/2020-02-10/trading-giants-seek-oil-storage-at-sea-as-virus-creates-glut

Jan - Barclay's also upgraded Enquest last month to overweight with a Target price of 40p

If Brent climbs back towards $65 by April then we should be able to reduce Debt below the $1b mark

The Ritz Piccadilly December 2020

Zebbo - ha ha corse you are, is your first name Neil by any chance?

Zebbo - Can you explain why ? Or is that you just saying that because you have zero stock ?

We desperately need Brent back over $65 to really make a nice dent in our remaining debt pile. But unless they get on top of this virus it at going to happen. Just a bad luck !

Towing Neil’s ego !

The EIA have been correct in saying US production will carry on increasing, we have read numerous stories over the years forecasting the end of the Shale boom and I will believe it when we actually see production declining and if it keeps on declining on rising oil prices.
The EIA predict US production to climb to 20.9 million barrels a day during 2025. World oil demand will top out in 2030.
They have been right so far

Neil I think you need to do a little research to be honest mate.
I think you need to keep quiet on the subject.
Now where’s our next tanker ?

There is no way those tanks will be removed complete, they will be cut into small manageable sections and stacked up for scrap.
Imagine the lifting straps you need to lift those tanks out complete whilst bobbing around in the waves. Risk of it smashing into the platform if it were to fall. Who's going to cut the last bolt or weld ? Come on don't be an idiot.

Just imagine health and safety standing next to you and you both looking at a big tree that need taking down in between two houses and saying to them .....I'll drop that down in one go ! It will be just fine, done it loads of times.... And Health and safety say … What about the gusty wind ?
I'm sure the rope on the old landrover will hold out when we give it a pull, don't worry !!