Member Info for MarktheSpark

"This winter, the debate about energy security may have only just begun". They say we will scrape through with supplies but the issue will be the price we have to pay for gas and electricity to do so. "A perfect storm" for energy prices with competition between European countries for pipeline suppliesas well as competition for LNG with the East.

Looks like we'll be in for a fortnight or so of coldish weather, it'll be interesting to see what happens to the wholesale gas and electricity prices. Also reports that China is increasing LNG Imports by 50% as a response to pollution concerns, that must have a gradual effect on world prices. There has been talk of a glut of LNG on the market over the last 12 months or so but it looks like that could rapidly turn as so many countries are increasing gas use to replace coal due to pollution and/or climate change concerns and political pressure.

As predicted Russia has moved in with $6billion of debt relief which should enable Venezuela to pay creditors short term. It's not clear what Russia get in return behind the scenes. But US sanctions and US influence in the region will continue to handicap Venezuela's economy so I doubt whether they are out the woods yet. BP's interests probably mixed as they would benefit from a shortage of supply if Venezuela collapsed but they have some shared interests with Russia via their investment in Gazprom as noted by chubbybrown, thanks. China also looking at a strategy of ensuring longterm access to energy resources worldwide, so it wouldn't surprise me to see them wanting a piece of the action.

Houthi rebels in the Yemen are threatening to attack Saudi oil tankers if Saudi escalates the war by attacking Yemeni ports. At the moment some of the supply data looks quite bearish for POO but that's being balanced by geopolitical risk in Saudi, Kurdistan and Venezuela.

Bob Dudley has said Venezuela is the "wild card " in the oil market's future. BP obviously saw the way the wind was blowing and sold out in 2013. I wonder if Russia and/or China will step in and buy up their billions of debt, acquiring the biggest oil reserves in the world in the process. Then they squeeze out the socialist dictatorship and Bob's your left out in the cold Chief Executive.

I suspect the key issues this week will be the looming potential default of Venezuela debt and the continuing upheaval in Saudi. It's just amazing how little news has been leaking out of Saudi since the detention of some of their richest men on corruption charges. Imagine if Bill Gates and Warren Buffet had been detained in the USA, that's the level of crisis we're talking about. Looks like MBS is garnering support from the West but if he proves to have overstretched himself politically there could yet be internal conflict. Anything that threatens stability in Saudi will boost the crude price.

Yes there should be a RNS message soon giving precise details of the buy-back - it's not going to be much as it's just balancing the scrip share payouts but every little helps.

Didn't expect POO to push towards $65 quite so quickly, Bloomberg suggests multiple areas of geopolitical uncertainty are "unleashing animal spirits in an already bullish market" - if API and EIA stats are supportive then $60-65 may be in the rear view mirror. Must be a point where there will be profit taking but IMO not til the end of the week at least as Venezuela, Saudi and Kurdish issues nowhere near resolved.

Didn't expect POO to push towards $65 quite so quickly, Bloomberg suggests multiple areas of geopolitical uncertainty are "unleashing animal spirits in an already bullish market" - if API and EIA stats are supportive then $60-65 may be in the rear view mirror.

Yes looks like another good week for the crude oil price moving up to $65+. Political/ economic wobbles in Saudi, Venezuela and Kurdistan setting a risk-on sentiment. Reduced US rig count and crude imports point to continuing crude stock draws

Not sure how much the Igas SP is influenced by the POO but it's looking like a good week for crude. Political / economic problems in Saudi Arabia, Venezuela & Kurdistan probably setting a risk-on perspective. Reduced US imports, lower rig count and unremarkable production figures point to a continuing crude reserve draw. At the same time continuing import growth into China. I can't see why the current bullish trend shouldn't push Brent price up to $65+ this week.

I'm a long termer and I'm afraid it isn't going to happen until shale really gets off the ground in the UK. As it is I think the phrase , "Grateful for small mercies" comes to mind. No RNS so I guess some big buyer is in under the radar, maybe some analyst has realised Igas is a good two-way bet and has persuaded their bosses. Either that or there's some good news on the way which we don't know about. It must be Igas specific as EDR hasn't responded.

Sunday Times predicting 70% increase in profits to be announced on Tuesday. I presume that makes the 520+ mark a near certainty. I guess the next task is to sell near the top.

Well it's nearly Hallowen - it's good to be Weir..d. Looks like a good week in prospect.

Can't see why the development of fracking should not be ruled by exactly the same processes that govern other industrial development. We have a long-established planning system with checks and balances and various levels of appeal.

Is posting messages that only you read a sign of madness?

More positive movement to the end of the month on the back of geopolitical concerns and continuing crude stock draws, then November 1st is next reporting date and announcement of divi. I would expect them to announce a decent divi and big increases in revenue from past investments no coming on stream. Yes 500-510 on the near horizon.

Halloween is WEIR 3rd quarter reporting date.

Must remember to buy HP sauce at Tesco's tomorrow.

Warming up nicely.