Member Info for MarcelKrell

Good for the ones that survive:

https://oilprice.com/Energy/Energy-General/Is-A-Wave-Of-Bankruptcies-Heading-For-The-Offshore-Oil-Industry.html

"In a recent report, IHS Markit said that demand for drilling rigs would start to recover next year and gather speed in 2022. But this will only happen in some parts of the world, namely South America and Western Africa. Demand for offshore rigs in the Gulf of Mexico will remain subdued, IHS Markit's analysts said."

https://oilprice.com/Energy/Energy-General/Apache-Compensates-For-Poor-Earnings-With-A-Major-Oil-Discovery.html

"Apache said it had made a world-class discovery at the Kwaskwasi-1 well located in the prolific Guyana-Suriname Basin, where it encountered 278 meters (912 feet) of net oil and volatile oil/gas condensate pay."

still the place to be...

Ride on:

https://www.visualcapitalist.com/tracking-the-growing-wave-of-oil-gas-bankruptcies-in-2020/

Less competition.

Just a small 'lol' on Rahul Dhir: "Delonex acquired a few exploration blocks in Central and East Africa but Dhir could not replicate the success of Cairn.It was not clear what will be the fate of Delonex. The company website was down and Dhir could not be reached for comments.No announcement of his resignation from Delonex has been made public yet."It seems he had the time to move over to Tullow. But at Cairn India he did good. :)https://economictimes.indiatimes.com/industry/energy/oil-gas/tullow-oil-appoints-rahul-dhir-as-ceo/articleshow/75271348.cms?from=mdr

https://oilprice.com/Energy/Oil-Prices/Oil-Market-Recovery-Threatened-By-Weaker-Fuel-Demand.html

"Gasoline demand appears to be weakening in some parts of the United States, as the coronavirus continues to spread. "

https://oilprice.com/Energy/Crude-Oil/Are-Oil-Bulls-In-For-A-Disappointing-July.html

https://oilprice.com/Energy/Energy-General/Oil-Markets-May-Not-Fully-Recover-Until-2022.html

"Oil demand may not recover to pre-pandemic levels until 2022 at the earliest, according to a new report from the International Energy Agency (IEA)."

I wonder how this outlook will affect Tullow in the medium term?

"The bank added that oil markets have been “deaf in one ear,” focusing only on positive news such as U.S. shale production declines and OPEC+ output cuts while ignoring red flags. The coronavirus never went away and is now spreading to new areas. Brazil recently moved into second place in terms of the number of total deaths from the virus. "

We'll see if it retracts again... and how much Tullow will follow.

"The oil price rally may have come to an end, with the long-feared “second wave” of coronavirus infections having now arrived, posing renewed threats to the global economy. "

https://oilprice.com/Energy/Energy-General/The-Second-Wave-Of-COVID-19-Could-Crush-Oil-Markets.html

Help... HELP! :P

https://oilprice.com/Energy/Oil-Prices/OPEC-Deal-Fails-To-Give-Prices-Major-Boost.html

"According to Reuters, the moderate increase in prices was a result of disappointment among traders that the extension was only by a single month. However, this was made clear from the beginning of negotiations, and there was even internal opposition to this extension that made reaching an agreement that much harder."

Morgan Stanley is one of 1000 opinions.

https://oilprice.com/Energy/Oil-Prices/Morgan-Stanley-This-Oil-Rally-Wont-Last.html

https://oilprice.com/Energy/Oil-Prices/Oil-Prices-Are-Unlikely-To-Break-40-This-Year.html

I think we will first see some retraction again, before a way up end of year.

https://oilprice.com/Energy/Energy-General/Is-The-Oil-Rally-Coming-To-An-End.html

Oops: Global Oil Demand Could Take Years To Recover

https://oilprice.com/Energy/Crude-Oil/Global-Oil-Demand-Could-Take-Years-To-Recover.html

"Global oil demand will take at least a year--and probably much longer--to return to the pre-crisis levels of 100 million barrels per day (bpd), Fatih Birol, Executive Director of the International Energy Agency (IEA), told Gulf Intelligence in an interview on Wednesday.

The pace at which demand will come back will mostly depend on global economic growth and the possibility of a second wave of COVID-19 infections, which could warrant a return to stricter lockdowns, Birol said."

We'll see.

https://oilprice.com/Energy/Crude-Oil/Has-Demand-For-Oil-Already-Peaked.html

"Oil prices continue to rise on the prospect of a rebound in fuel demand as economies begin to reopen. But there is a large difference between oil demand rising from recent lows and actually growing relative to pre-COVID-19 trends. In other words, demand destruction on the order of nearly 30 million barrels per day (mb/d) may have been brief, but we are a long way from a 100-mb/d oil market. "

"In fact, some are wondering whether the world will ever get back to 100 mb/d of oil demand. Even oil executives have their doubts. Royal Dutch Shell’s CEO Ben van Beurden recently suggested that a rebound is unlikely, even looking out beyond 2020. “We do not expect a recovery of oil prices or demand for our products in the medium term,” he said. '

So this could be an option for the medium term future.

Some words of caution?

"I think investors should heed the underlying warning in Shell’s first dividend cut in most of our lifetimes. Consider the pressure they must have been under not to break their 75-year streak. That is evidence that they see the current crisis unlike others the oil industry has faced in recent decades. They aren’t sure when oil demand will recover.

Thus, investors should be exceedingly cautious in the energy sector for the foreseeable future. This is especially true of oil-weighted producers, and refiners."

https://oilprice.com/Energy/Crude-Oil/A-Once-In-A-Lifetime-Warnings-For-Oil-Investors.html

https://oilprice.com/Energy/Energy-General/Bulls-Call-The-Bottom-In-The-Oil-Market-But-Are-They-Right.html

"Although the worst in the oil market seems to be in the rearview mirror, the market is hardly out of the woods."

""It is still too early to determine the longer-term impacts, but the energy industry that emerges from this crisis will be significantly different from the one that came before," IEA Executive Director Fatih Birol has opined."

We'll see. But I don't think we will go up in a direct line.

Oil futures fall as concerns about storage capacity prevail despite a smaller-than-expected rise in U.S. crude supplies

https://oilprice.com/Energy/Oil-Prices/Morgan-Stanley-Says-The-Worst-Is-Over-For-Oil.html

"While crude prices over the past several sessions have been supported by hopes for an increase in demand, along with some signs of a slowdown in production, supply remains burdensome and storage facilities are close to full, industry experts cautioned.

“The question is not if prices would stop rising, but when,” wrote Bjornar Tonhaugen, head of oil markets at Rystad Energy, in a daily research note.

“Oil prices have been on a rally in the last few days, as enthusiasm was plenty among traders that the OPEC+ cuts, the existing shut-ins and some demand rebound would be enough to already justify a market recovery,” he wrote. He was referring to closures of oil rigs in the U.S. and an agreement by the Organization of the Petroleum Exporting Countries and its allies to cut 9.7 million barrels a day in crude through the end of June that took effect on May 1."