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'Whats pointy teeth got to do with it?'
LoL.
The WTO and GATTS signatories ensure their regulatory and authorization practices comply with WTO trade rules so that trade agreements can be agreed on a common framework. If the only thing you got to trade is oil (SA), how do you agree technology services for amazon, netflix, google, apple...
IMO they use technology to rationalise global and domestic policies...work from home digital technologies for example...
'supply legacy due to green energy'
Alot of different interests being negotiated. SA needs $80 oil to balance its budget, bahrain even higher...US are using fangs to rationalise the value exchange between countries and currently weakening the $. EU (eg ireland) is raising taxes on fangs as a fiscal method to monetise QE ... So different countries have different authorisation regimes making up policies supporting the liberalisation of global trade. In the same way india still has dependency on coal and the UK doesnt, Africa and South America will still have dependency on oil and TLW is repositioned to supply it.
'And don't tell me most investors on here are in for the long haul. I absolutely don't believe people would post here on a daily basis if they didn't intend to sell for at least 12 months.'
Thats misleading. I have been buying and selling since 160 and always looking to accumulate at lowest average cost.
Cant believe it will revert to march april lows. Weekly candles still optimistic :-)
https://m.uk.investing.com/commodities/brent-oil
US finish flat on the day?
https://www.federalreserve.gov/newsevents.htm
again. Maybe should have held off for 26 or 29p whatever the BB has been saying but if it does, then its followed by 45p imo.
If tlw keeps ticking the 'recovery/trust' boxes this will be my best investment and drawdown income for a few years. Long time dead whatever LoL
The problem BP is trying to solve with 15% headcount reduction is the one TLW has already actioned. With oil over $35 freecashflow breakeven and revenues hedged, the next milestone is q2 performance and maintaining guidance (july reporting).
US want $45 oil and jobs
'or maybe shorts are confident with their position? Any thoughts?'
Think they are mostly hedging debt. A bit like tlw hedges revenue. It costs to buy the hedge. You might not call it though so different behaviour. Uganda and Kenya cash will move the hedges imo
'It's one part showing how you are GOING to reduce debt and it all looks lovely in their presentation'
..and they did. They sold uganda. Rebased for free cashflow at $35 oil. New ceo to run it. Kenya cooking etc
Don't think all the extension was priced in Friday and SA will publish their july prices today including possibly raising prices to Asia c$3+ pb. $ still weakening.
ECB, FED, central bank stimulus also continue to lift markets this week+.
So any pullback is just profit taking and the tide will lift all ships for a while yet...imo
June 18 next review date
https://www.bloomberg.com/news/articles/2020-06-06/opec-agrees-to-extend-output-cuts-as-quota-cheats-offer-penance?utm_source=url_link
'revenues from uganda won't start until 2023'
Agree at earliest. But the original imf model in 2017 was $80 for appraising the fid/ project. So to get approval at $60 suggests the imf, governments and commercial interests are baselining deals at around $60 which to my mind includes their collective 'integrated' forecasts of economic activity. So $60 anytime soon imo