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Nice to see oil is flying still after the US inflation data ! theres a whole lot of confidence in the commodity price it seems so maybe that is why the UK government are so harsh with the WFT as they know what is coming ! Are we going to see $100brent this year? ;-)
Https://www.youtube.com/watch?v=Dqg_I0nV7WI
and another ! He waffles on about CCS a bit too much though however the convo is more indepth regarding the approval
Https://www.youtube.com/watch?v=IV2Oh8I7yaY
Just found you can translate this to English via the subtitles. Its very interesting and highlights why BASF are so keen on the deal. Theres a part about the regulatory approval , however they arent so clear on what they think but there is a key part in there that will favor the approval ;-)
What gives me faith here is the fact we have EIG and Slim onboard who are world backers within the industry and they surely knew the risks involved prior to investing 100's of millions in this company.
As for Labour I don't understand how they can attack one industry as if its to blame for the economic downturn in this country, if it wasn't for this industry the country would be in a hell of a lot worse position than it is now !! Seriously what is going on in their minds ?
NeverSell - here is your answer which is upto date !
https://uk.marketscreener.com/quote/stock/HARBOUR-ENERGY-PLC-120993565/company/
Sir Keir Starmer, the Labour leader, has dropped plans to backdate the windfall tax on oil and gas producers to the start of 2022 if the party wins the next general election, in a further recasting of the party’s green agenda. But that limited concession to the energy sector did little to assuage anger in the industry over Starmer’s plans to instead extend the lifetime of the levy by two years until 2029. Offshore Energies UK (OEUK), the trade body, claimed that 42,000 jobs and £26bn of economic value would be “wiped out” by the extension of the windfall tax and an increase in the levy from 75 per cent to 78 per cent.
David Whitehouse, chief executive of OEUK, said: “Labour either can’t do the maths or haven’t considered the alarming jobs impact that will be felt up and down the country.”
He said the announcement was made “without engagement with the industry”.
Starmer has restructured the windfall tax in an attempt to plug the gaping holes in his £28bn-a-year flagship green spending plan, which he slashed this week to just £4.7bn.
Under the proposals, set out on Thursday, the new rate would raise £10.8bn over the next five years, starting in 2024-25. The party would retain a “floor” introduced by the government where the levy would cease to apply if oil and gas prices fell below a certain level.
The extra money Labour believes it can raise from the tax has been allocated to pay for half of its pared-back green prosperity plan, with the rest funded by extra government borrowing.
But Starmer pinned the blame for his U-turn on constrained public finances resulting from the Conservatives’ stewardship and insisted Labour would still deliver on its promise to build a green economy if it took power.
Sorry but when someone is wishing for this to crash I won't take that lightly ;-)
I doubt this will crash below 247p anyway , Slim has purchased 5% of the company between 220p and 240p so there won't be many sellers in that range as he will own most of those shares ! Not long until our trading update either and that usually attracks a bid or two leading upto it.
Have a good weekend everyone and who knows what next week has in store !