Member Info for Krakenoil

60p is a distant dream now, unless we get positive changes to the EPL we are going to struggle to see 40p even with SHR.

We just don't have any large investors left that want to hold UK oil stocks.

The bod have done all they can, they can’t make people buy the stock, we just have to wait for dividends and buy backs. Another 6 months and we should be there

What really gets to me is the fact the government lets the banks make humongous windfall profits and they get away without any questions whatsoever.

Why do they think its acceptable to have one set of rules for one industry and a completely different set of rules for another .

All these banks have made massive profits off of our North sea oil industry yet they get off Scott free

No one questioning EDF for over charging the UK for electricity so it can subsidise the French peoples energy bills.

Doesn't look like this will ever move up, even with higher oil prices we haven't really moved, Just setting us up to fall to lower lows if the oil price were to fall back towards $70, This government have certainly killed off the value of our north sea.

And these total morons run our country, its no wonder we are in such a mess.

Why ?

You can't win them all.

I'd like to win just once !

I seem to be the best loser !

I cant see any of the large companies investing until they make a change to the EPL and set it in stone so it cannot be easily changed, large Investments are based over 25 years so who in their right mind would invest in such a hostile environment.

I would also say thanks for your kind offer of asking us to invest our hugely Taxed profits (What we have left) So you can take most of those profits as well. We take all the risk, you take most of the profits whilst we get blamed for the destruction of the planet. Not very convincing is it

We don't really want oil prices pushing much higher otherwise Labour will start all over again about increasing the WFT again. We need the world economies to bounce back before oil goes much higher. We don't want to damage demand.

85 - 90 is just fine.

I like the sound of that !

Repairer Spikes are a rarity nowadays.

There is zero chance AB Will mention SHR this year, we have a massive amount of payments due in October and it will be scraping the barrel and looking under the sofa event- it’s going to be tight !

We are not at 0.5 either and we won’t be across that line until Q1 24 and it will be then when he announces a SHR program, that’s if oil prices hold above $80.

Another 6 months to wait - Be patient

Easy to post trading activity afterwards.

We believe you …. Honestly!

oil negative of that draw lol

you couldn’t make this **** up

EIA data, week ending 7/28

Crude oil: -17.0M

Domestic prod: 12.2MMbpd

SPR: NC

Cushing: -1.2M

Gasoline: +1.5M

Impld mogas demand: 8.84Mbpd

Distillates: -0.8M

Refiner utilz: 92.7%

Total exports: 11.78MMbpd

If I were in Linda's position I would have to tell the Government to FRACK RIGHT OFF We will not invest a penny more until the windfall tax is dropped or set at $110 wti and we have a stable tax set in stone that can't be changed within 5 years of announcement. Why would anyone invest in this country with such volatile Tax laws

Up 3 down 4, didnt think we would see mid 16's again with Brent over 84

Yesterday Red Ed Tweeted BP's £2b profit was a colossal windfall due to the war and the Tax loopholes need closing down. A proper windfall tax is needed.

So red Ed thinks a profit of just 2.5% of your market cap is colossal, Not once did he mention the massive profits make by the banks making huge profits trading the oil price volatility or the fact they haven't passed on the interest to savers.

The bloke is a one sided nutter and the quicker Starmer distances himself from him the better.

Red Ed is giving the Tories something to attack Labour with in the polls. Most of the general public also see Ed as a nutter and will probably prefer the corruption of the Tories over Labour.

Rishi Sunak is coming out with common sense at last

In other words "You must invest otherwise we wont get our huge Tax revenue" If you don't invest the country will be even poorer.

Don't worry about the banks making massive windfalls as we don't rely on them

I agree with that Dumbly, once Labour accept the need for our North sea oil / gas then a consensus between all parties will remove uncertainties going forward and will open up investment we urgently need within the industry. Maybe a percentage of investment must go into renewables or something along those lines.

Anyway we have SVT to invest in if that were the case.

Its moving in the right direction

Common sense will prevail as the need for our North sea energy is paramount to our security and obviously our economy.

Red Ed can moan all he likes but a must is a must.

Common Mr chancellor lower the WFT and get this motoring.

Well that's the whole weeks worth of gains gone. Back to square 1 again even with Brent $3 higher