Utilico Insights - Jacqueline Broers assesses why Vietnam could be the darling of Asia for investors. Watch the full video here.
"Green lobbyists are making themselves an irrelevance by turning against all fossil fuels in all circumstances. Governments may have nodded along with their demands up until now, by setting net zero targets. But clearly, when ideology collides with reality, governments are not going to sacrifice the well-being of their citizens. The move to build new gas plants is yet one more sign of Europe’s retreat from unrealistic net zero targets."
https://www.telegraph.co.uk/news/2024/03/27/europes-net-zero-retreat-is-gathering-steam/
Hi Monkey, this is the film : https://www.youtube.com/watch?v=A24fWmNA6lM&t=22s
Changes could force operators to build wind farms close to each platform
https://www.telegraph.co.uk/business/2024/03/27/north-sea-oil-rigs-threatened-shutdown-unless-run-green/
Ithaca in talks to create North Sea’s second largest operator
Ithaca Energy, one of the companies behind the Rosebank oil field, is in exclusive talks with Italy’s Eni which will see it hand over up to 39pc of its shares in return for Eni’s assets in the UK.
The deal will create the second largest independent company operating in the UK North Sea, Ithaca said.
“Eni has granted Ithaca Energy exclusivity in respect of the assets, the subject of the potential combination, for a period of four weeks from the date of this announcement,” the business said.
London-listed Ithaca Energy and Norwegian state energy company Equinor were given approval last year to carry out the development of the Rosebank oil field 80 miles off the coast of Shetland, which holds up to 500m barrels of oil.
"Ask people most affected by the “green transition” where their preferences lie, however, and common sense prevails. When given a choice between energy independence or net zero, a recent survey of Scottish voters by pollsters Redfield & Wilton showed 58 per cent prioritising energy security, more than double those wanting net zero.
It is time we accept the same realism as these voters. We cannot burden industries with excessive costs that foreign competitors avoid, whilst expecting them to continue operating in the UK. Nor can we recklessly pursue a transition to EVs by diktat, which ordinary consumers do not want, on the chimera of “green jobs” tomorrow at the expense of real jobs today."
https://www.telegraph.co.uk/politics/2024/01/29/craig-mackinlay-rishi-sunak-net-zero-green-agenda-decline/
No politician from Labour or Conservatives can claim they hadn't been appropriately warned :
https://www.telegraph.co.uk/business/2024/02/13/labour-north-sea-tax-raid-trash-oil-gas-production-industry/
The US Energy Information Administration (EIA) said in January that US domestic production of crude oil for September 2023 set a new all-time high of 13,247,000 barrels per day. That fact probably deserved more notice than it received given that it was the most oil any nation on earth had ever managed to produce in a single month.
Today, America ranks as the largest producer of both oil and natural gas on Earth, and there is no sign that is likely to change anytime soon given that the industry is conducting its business more efficiently and effectively than at any time in history. As a result, the USA enjoys almost complete energy security: we have no need for oil and gas from unsavoury regimes overseas, and we even have enough left over to help supply our friends – such as Britain.
https://www.telegraph.co.uk/news/2024/03/25/usa-oil-gas-production-world-record-level-energy-security/
https://www.telegraph.co.uk/news/2024/03/25/usa-oil-gas-production-world-record-level-energy-security/
British energy production plunges to record low. UK forced to rely more than ever on imports as North Sea output declines
What could be the reason of this?
https://www.telegraph.co.uk/business/2024/03/26/briatin-energy-production-plunges-record-low/
To throw darts at.
https://www.telegraph.co.uk/politics/2024/03/25/ed-miliband-not-consider-resigning-28bn-green-u-turn-labour/
Https://www.energyvoice.com/oilandgas/north-sea/550570/nsta-oga-plan-published/
A controversial plan, which North Sea operators have warned will see platforms being shut down early, will be published later this week.
The final North Sea Transition Authority (NSTA) document – known as the “OGA Plan” – will be brought out on Wednesday, according to operations director Tom Wheeler. A draft version of the plan opened to consultation in October and has since been flagged as an area of “serious concern” for the industry, who said it will see dramatic acceleration of shutdowns.
Provisions in the draft document require hubs to be electrified or electrification-ready for any new oil and gas projects being planned or face sanctions.
Many operators see this complex and costly process of replacing diesel or gas generators for power as too high a hurdle for those assets with limited remaining production life – the majority of those in the UK sector.
Labour’s net zero plans ‘will cost £116 billion’
Analysis finds even if sums were available, Starmer’s plan to decarbonise UK’s power grid by 2030 is ‘infeasible’
https://www.telegraph.co.uk/politics/2024/03/25/labours-net-zero-plans-will-cost-116-billion-analysis/
John Constable, director of REF, a charity that has frequently highlighted excessive payments to wind farms, said: “Our evidence suggests that multiple wind farm operators have been charging over the odds to reduce their output on windy days, generating no energy but costing consumers a fortune. We estimate it added £100m to overall consumer bills in 2023 alone.”
https://www.telegraph.co.uk/business/2024/03/24/wind-farms-investigated-after-overcharging-customers-100m/
On the way to pauperism.
"We need brutal honesty about what we can and cannot afford. The state and public services must be made efficient. The welfare system must be reformed. Absurdities such as the unilateralist climate change policies that further undermine domestic production need to be rethought."
https://www.telegraph.co.uk/news/2024/03/24/our-economic-model-is-bust-we-cant-rely-on-services-alone/
Https://www.vaneck.com.au/blog/gold/the-2024-gold-miners-rush/
@dogger69 : Willy Wonker : filtered
Https://seekingalpha.com/news/4083057-us-asked-ukraine-to-halt-strikes-on-russian-oil-refineries-ft
For those interested in exposure to precious metal stocks read this article about B2 Gold (BTG on New York, BTO on Toronto) : https://seekingalpha.com/article/4678486-b2gold-stock-a-sector-leader-on-the-sale-rack
And compare the valuation metrics such as P/E, EV/Ebitda, FCF-yield to those of FRES. Just saying.
Https://www.telegraph.co.uk/business/2024/03/20/surge-offshore-wind-needed-starmers-net-zero-plan/
"The politicians have been in a state of denial in admitting as much, deceiving themselves – and everyone else – into believing the green transition offers the prospect of both low cost energy and hundreds of thousands of jobs. For all concerned, it’s proving a rude awakening.
In this regard it is quite similar to Brexit, which was similarly sold as an economically enhancing endeavour, and was embarked upon without any kind of a plan, or realistic assessment of how the supposed benefits might be delivered and what the countervailing costs might be."
"The difficulty is that though deemed necessary for the purpose of limiting climate change, green investment doesn’t yet hack it in commercial terms. Much of the desired transition wouldn’t happen at all unless actively promoted, incentivised and subsidised by governments. By its very nature, this is going to create distortions, result in technological wrong turns, promote inefficiency and be ruthlessly exploited by the well-connected to feather their own nests."
https://www.telegraph.co.uk/business/2024/02/06/labour-green-prosperity-plan-monumental-waste-of-money/