Member Info for Krakenoil

What’s going on?

Are we still in auction ?

I don’t believe a word of it! Demand is rising long term and the lack of investment in the oil industry will hit hard in the next couple of years ! Let’s not forget russia, Saudi and the US only supply about 34% of the worlds oil and no one has been keeping an eye on the rest of the suppliers ! And that’s where the big problems will arise from ! They haven’t been able to invest as there wells decline caused by survival mode over the last few years ! $100 plus oil isn’t far away !

Yes NO sitting about 10 miles south of k

Remember Bumi were very late completing the ship and obviously rushed the last 6 months along with faulty machinery AB has to be 1000% sure that the Boat is capable of doing the job. It’s getting there by the looks of it ! And were seeing DC4 works being carried out so AB must believe it’s up to the job. Been waiting a bloody long time for Enq to deliver a good update ! First of many please

If I were AB I wouldn’t sign off until K has performed as designed through the winter ! AB needs to hold out as long as he possibly can ! Look after the pennies and all that !

Hanging bumi out to dry is the best thing AB can do until K reaches plateau and hopefully by then we have higher oil prices than we currently have. I hope the next update we get Puts a big grin on my face while I’m reading it and just for Squif I hope AB wrote it personally lol

Refraining from signing the acceptance contracts is far better for Enq anyway is it not ? Hang it out as long as possible surly! Or am I missing something?

I have repeatedly asked the question since K first oil over commissioning/acceptance sign off. I have never had a reply that implied it was imminent, quite the opposite actually! Basically it will be hung out as long as possible! Bumi’s update at the beginning of the year gave the impression of imminent I recall, but I’m sure they had to say that didn’t they !

So Opec now revises its outlooks on global oil demand ! This is bad news ! Maybe Saudi and Russia will pull the throttle back and keep to the original deal to cut production. Doubt it .

We just can’t push through 37p ! Surly today is the day ! If we can close above today then its a quick run up to 40p

Picked up now looking at it, wondering if we get a slight push north with oil prices if we can clear 37p this afternoon.

So what’s caused the delay or temporary shutdown? Possible just part of the commissioning process or as MO stated DC4 works ! Maybe an email is in order and to ask the question

That Just leaves Navion Oceania or PetroAtlantic but as you say she is contracted elsewhere !

She's off to Captain OF I think chilt

Well I class that as a great week to be honest ! Terrible week for oil prices and we closed about 3% up !
Closing price of 36.7p .... Well happy with that !

Well its better than the SP sinking Squif ! Brent seems to be moving back towards $73 now.

Your probably correct there MO, laying the pipework may have caused a drop in production on one of the trains. so we could be looking at next week for a Tanker off load !

We also have to remember that the Armada hasn't completed commissioning yet and part of that is shut down and re-starting so until its acceptance is signed off we will see irregular off loads

Navion Oceania doesn't look to have a load on board so could be a quick pit stop then up to K