Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Seav,I like your posts but am confused by your stated net debt for Shell of $25bn plus.In Shell report 4 days ago its still $46.4 billion and they only paid debt down in Q2 by $2 billion.Thats criminal even if their borrowing is cheap.
Boyo,can you explain this roll over factor for me.Bloomberg and Financial times were reporting $109 as late as saturday but Yahoo and BBC were reporting $104 on Friday .The chart now in Financial times now shows a vertical drop on Sunday late from $109 to $104.Many thanks Mike
Reports suggest Rough could cost £2 billion to reopen, but could be up and running by September.
Baysil,afraid its not as clearcut as that.Rough went into service in 1975 so is over 45 years old and the wellheads and xmas trees and all related components are heavily corroded and while these may have been replaced to facilitate the commencement of reinjecting gas by September,Centrica will have to start building up a cushion of gas to build up resevoir pressure that may take till April before it can actually inject storage gas.Its hardly going to be possible to have that much surplus gas this winter to actually make it possible to divert gas for reinjection as it will all be needed to supply homes and power stations.So the reality is that stored gas may not be available till September 2023.To briefly explain the cushion,it gives you higher pressure in the injected zones so that you can flow larger volumes of gas out in a shorter time when you go tap into your reserves.Sorry for the grim news.
Shell management wasn't as measured when it came to cutting the dividends but is being very measured when it comes to raising it back?
Great post Seav
but in current political situation big dividend increases aren't either.
Not sure that is relative anymore Jim,the oil companies have been hit with a windfall tax and through that most of the general public have discovered that even before this tax there is a 40% tax loading on profit anyway.
Van Beurden needs to get his act together and get that dividend back up to where it was before he cut it by two thirds or he could fall on his sword or both
The risk - When the war ends brent will drop $30 in one go, That was said Saudi's yesterday on Bloomberg. This will happen at some stage. I want to be out before that happens for sure.
In the interests of truth I would be grateful if you could post a link to verify this post.I have tried to find one all weekend with no success.This leads me to believe you have posted total nonsense which I concur is not unusual on this board.
The price of oil is falsely at these 'high' levels because of the Ukraine war. It is a war Ukraine cannot win
Price of oil was very high even before Russia started its invasion of Ukraine.It may have made matters worse but for me this really about a supply problem that will stretch long into the future.
for Government read Oil companies.2nd para line 1
In a way lower prices will be ok. If in a year's time we see oil back at $90, the inflationary pressures will be eased and with it pressure on interest rates. The windfall tax will be heading for the chop.
I really dont think that $90 will be considered normal no matter how many charts the government might publish to make that point.I suspect $60 is what they will have in mind as most companies can show a profit at that level due to all the cost cutting that has taken place in the last 2 years.It will be interseting for sure with probably a Labour government in power in 2024 or maybe earlier
Thanks for the useful link Texan,love to know what the historic more normal level is .Guess we are stuck with it for 3 1/2 years
It is temporary and will be phased out when oil and gas prices return to historically more normal levels. The legislation will also include a sunset clause, which will remove the tax after 31 December 2025.
Aliveandkicking, £24.59 you had better change your name again.
Are you sure about that Nomad?
Looks like you could be the one who has his foot in his mouth
BP have seemed reluctant to announce what they are doing with Rosneft divi,but their silence seems to confirm that they are not giving it away but probably in an escrow account in Switzerland.
Or were you just worried that with a pot of cash sitting around you'd buy back into Genel :-)
Jim we really need his input back at PFC but he sold out a few months ago.On Genel I am reinvesting both divis this year but thats it.Its just a good investment for divi now,way better than 1.5% in chase.Slightly riskier however.Not worried about changes at BOD as long as funds continue to roll in from KRG
Is the div every quarter?
In your dreams SK,glad you are still with us however as you do make me laugh.
Seems an awful lot of drama about divi today,all brokers do it different and payments sometimes differ as I have received my HBR divi but my Genl divi has not showed up yet.All on 18th but it will show sooner or later and the Genl final divi is a cracker this year but the share continues to frustrate but have been there 7 years now so will give it awhile longer(2 years) as the divi is excellent
No complaints from me,I picked up another 1100 shares today.Well pleased with the price.Maybe buy some more in the next few days.
I can't remember who wanted to top up its holdings.
I am reinvesting Tartine as always,this much maligned share pays a quality dividend with a good flow of cash on a monthly basis.I get over £7 K divi ,money free of divi tax as its in an ISA in a few days time.That sure beats the Chase savings rate at 1.5%.Be reminded that I bought 4 tranches of Shares in Genel in January 2014 and the share cost of the most expensive tranche was 1084.57.At the time analysts were predicting that the share was capable of moving to £14.8 years later I am still here after purchasing thousands more down to a low 79p a share and believe that this share will advance over £2 soon which puts me in profit and considering the exit door.
If you are looking for £3 plus then we need to find some oil as an operator and then DNO might buy us out.Chevron certainly did us no favours and Bill Higgs maybe ought to consider his future as he failed to snap up a bargain minnow oil company in the cheap times 2 years ago .No bargains out there now except Genel
The loss of Rosneft means BP has lost half of its reserves, a third of production and a $1bn annual dividend.
Not yet I feel,it has to be paid somewhere and the question is where,I feel they may do dividend reinvestment but it just might go into an escrow account in switzerland.
Anyone buying any more though?
Yep I will reinvest divi,this is the first time however when I havent topped up on ex divi day as its probably the first time the share hasnt collapsed .I am in the same position as Jim,probably 12% down from break even but suspect there maybe many sellers as we advance past £2 which I think we will be dragged along with high oil price sentiment as well as the excellent cash flow that is being generated by higher oil prices.
Just bought Lloyds
Been thinking about Lloyds since I sold off all my Glencore shares but as yet the money idles in my II ISA account.Profit was excellent on Glen but I staged out to low and to early
I agree that JPM went over the top on their statement but I have been following them down since they peaked in 4 figures and so glad I never bought then.I think I am a little frightened of them in that they may be overtaken by their peers or I end up with another PFC.
Love Stanley Gibbons,I realise they bought the most valuable stamp in the world recently and have ideas to do shared ownership of said stamp.Not sure if it is a Cape triangle or a British Guyana mauve.