Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Land acquisition in Kenya is almost finished. Start of the pipeline will probably happen very soon (once negotiations with Lokichar chiefs is done )
“Munyes also described Turkana County as the last remaining obstacle to land acquisition for LLCOP, noting that NLC had already completed this process in Lamu, Garissa, Meru, Isiolo and Sambu counties. “I wonder why local leaders are talking of delayed benefits, yet for the country to commercialise crude oil so that we get profit out of it, we must have land to lay a pipeline from Lokichar to Lamu, which assures us of 80,000 barrels [per] day,” he said. (The pipeline’s projected capacity will be 80,000-100,000 barrels per day, or bpd.)
He also indicated that the midstream project would help determine whether oilfields in the South Lokichar basin ever produced at full capacity. The government is hoping that these deposits eventually yield 150,000 bpd, he noted.”
Hurricane Ida will knock out a million barrels of GOM production, chine with zero cases and India rapidly inoculating its population. All elements are there. BigRisky keep your toxic negativity for your f self!
https://uk.finance.yahoo.com/news/tullow-oil-expects-fy-cashflow-061953230.html
Tullow uses digital technology to optimise new production.
https://www.offshore-energy.biz/tullow-awards-technipfmc-first-iepci-contract-offshore-ghana/
Tullow needs around 1.2- 1.5 billion to cover the cost of pipeline and development of Turkana (around 600 million each). This would be needed over a period of 2-3 years. With this price of oil it would be perfectly doable to be financed from the free cash flow. It could possibly bring up to o 50k bpd on top of Ghana production. Once completed Kenyan will be worth a lot.
Very good gas off take in Ghana promises much better oil production.
https://www.energymixreport.com/jubilee-ten-deliver-120mmscf-d-of-gas-to-atuabo-plant-in-ghana/
https://www.watsonpost.com/how-long-is-lokichar-lamu-oil-pipeline-in-kenya/
There is proven 4 billion barrels in place in Kenya. Rumour says it there is a lot more to be discovered. Tullow was busy auditing Kenyan government on detailed development plan. Let’s hope Rahul establishes good relationship with Kenyan government and convinces them that he means business. https://www.businessdailyafrica.com/bd/corporate/companies/tullow-audits-kenya-oil-ahead-of-licence-expiry-3444810
I think hedging is playing safe. There is still 5-6 mbd spare capacity, mainly Saudis have it. Conditions in oil futures market can still change overnight. Before all the spare capacity is gone, hedging is a clever strategy. It might take less than two years for oil super cycle to happen, but then it might not happen at all.
I found it here.
https://www.marketscreener.com/quote/stock/TULLOW-OIL-PLC-1412415/calendar/