Member Info for MPO818

That the crisis at British Steel is being prioritised over the crisis facing the UK's North Sea oil and gas industry.

The thoughts of nationalising (again) an industry that is reported to be losing £700,000 a day (Telegraph) is quite scandalous. So a Saturday jolly for MP's to legislate to spend more tax payers money. The cost will become clearer in the Autumn budget.

Starmer's speech earlier today covering "National Security" and "protection of jobs" rings really hollow when compared to the destruction by both the Tories and Labour to the nationals oil and gas industry. We are well into "Spring" so why are we still waiting for the consultation results, companies and projects need to know the details.

"The Brits sit back and take it up the rear end, and thus welcome Chinese business into the U.K. with open arms."

YES, and today it is reported in the FT the UK Government is offering to buy them (Chinese) the COAL to keep British Steel going,

Yes the same Government who are destroying the UK Oil and Gas sector. Unbelievable.

reported in today ft - government offers to buy coal for british steel.

is this the same government that are refusing permits for new natural gas fields in the north sea, whilst taxing the existing operators out of existence.

let's save circa 3,500 jobs in s****horpe (which probably contributes very little, if any tax to the economy) and bin the tens of thousands that rely on north sea industry, which is a large contributor to the uk economy.

you couldn't make this up. - rant over

Good post DU, the guy on SKY reporting Trumps comment earlier today was hinting "insider dealing". The post below is from Bloomberg tonight

US trading ended Wednesday with the biggest surge in stocks since 2020 after President Donald Trump said he’d pause tariffs on dozens of countries for 90 days.

Asked the reason for the reprieve, Trump said that people were “getting a little bit yippy, a little bit afraid”. The president has been under intense pressure from business leaders and investors to reverse course.

Reported on SKY news Trump told US investors (before markets opened) that NOW is a good time to invest, probably knowing full well what he was going to say post European and UK markets closings. I just wonder what financial benefit he has personally had in all this turmoil.

* Q1 2026 = payouts begin

So back to 40p??

Down a further 1400+ points early doors.

DU

Is it spring yet?

YES, it must be, I have spent all day (early Friday finish at 4.30pm). power washing the garden paths, stopping only to eat and rant about Tariffs and our useless government. I am now knackered and not getting a lot sympathy from the boss. One saving grace is that Donald recons the US markets are going to boom.

Trumps tariffs crashing markets around the world. Oil, gas and other commodities suffering big losses.

Whatever tax levels the government announces it may all be too late. They have dragged their feet and created (coupled with Trump) huge uncertainty for the NS industry and the whole UK economy.

DU that brightened up breakfast time.

Surety

With less than £13m in the bank that would require either a decent fund raise or borrowings, surely a non starter in the current climate. Shareholders have been patient enough. A takeover or a long wait to first oil look the most likely.

Money raising opportunity for George, it's clear.

Another excellent post DU. JS beat me to the posting of todays FT article. I sincerely hope that the government can overcome its embarrassment and that common sense prevails and the industry gets the lifeline it requires to continue in the North Sea.

Trump and his tariff wielding policies are not making life any easier either.

Pupils are being offered iPads and bikes by schools as rewards for good attendance, an educational report says.

Your couldn't make it up - cheap bikes and iPads coming to E-Bay.

Mrs MPO says this is disgraceful - furthermore she suggests a slap for non attendance.

Reported by the Spectator.

DU I read all your posts with interest whether here or over at SQZ, and I understand your frustration over their involvement with ENQ. It wasn't so long ago they were involved with KIST and the numbers being talk about then were at a much higher level if I remember well.

Back to JOG your wrote in your post "She'd have been howled down by the brainwashed masses in the House (inc most Tories)." Again if my memory is correct both Sunak and Hunt initially opposed Windfall Taxes on the energy industry. Sunak even went the extra mile and gave every household £400 (over 6 months) and pensioners and extra £300 (for 2 years) to help during the energy crisis. The noise from the opposition benches was deafening, and the Tories folded on the WEF issue.

I was screaming at the TV yesterday, when Reeves talked about the National debt and how it increased "under the party opposite". The Tories have been very lax never mentioning during the election campaign or since the money required to finance the COVID furlough or the cost of the financial help for energy cost I mentioned above.

JOG has enjoyed so decent small gains prior to todays jump, hopefully this will continue - Good to hear your doing OK, and keep posting.

"I can sense a bid coming"

AB's Purchase of 7th March was rather timely

No mention of the oil and gas industry, do we know when an update is due ??

Running out of money is my guess, they ain’t getting any from me. Bond was the route cause and left the sinking ship.

Https://on.ft.com/4hL8Axz

A poor research note from BofA they can't even get their target price right having a £ in front, very shoddy.

Also not a mention of the benefits accruing from the merger. Drop perhaps welcomed from the buyback point of view. Their dividend comment suggest they do not know or have not considered the dividend cut. With over 2bn shares bought back to date future dividend cost is greatly reduced - not impressed with BofA.