Member Info for ocelot

Iran agreed to provide international atomic monitors with documents that will help resolve a contentious investigation, paving the way for a broader nuclear agreement with world powers and a potential return of Iranian oil to global markets by the third quarter.

The agreement was announced on Saturday in Tehran between International Atomic Energy Agency Director General Rafael Mariano Grossi and Iran’s nuclear chief Mohammad Eslami. Potentially, it represents a key step toward restoring a 2015 agreement that curbed the Islamic Republic’s nuclear program in exchange for sanctions relief...

https://www.bloomberg.com/news/articles/2022-03-05/iran-strikes-pact-with-atomic-monitors-paving-way-for-agreement?srnd=premium-europe&sref=Em01M8Hr

+ $34.75 on the day.

"Think the unthinkable to turn off Putin's gas
Our net-zero mission would be hit but we have to consider burning coal and wood to heat homes as we try to save energy"

In resume, everything needs to be done to reduce the billions transferred to Putin by the West for gas and oil.

"Breaking an addiction is always hard, but the treatment cannot begin too soon".

High energy prices are forcing some manufacturers to halt production in a foretaste of what may become a more widespread shutdown that if the war in Ukraine leads to acute shortages of natural gas.

A survey by Make UK, the manufacturing industry group, found that 17% of companies have had to “temporarily halt production of products that are energy intensive to fabricate” this year...

https://www.bloomberg.com/news/articles/2022-03-04/u-k-factories-halt-some-production-as-energy-prices-surge?sref=Em01M8Hr

April contract up almost 24% at 475.250p:

https://www.theice.com/products/910/UK-Natural-Gas-Futures/data?marketId=5253318

and now 475.250p.

Climbing again: April: 447.000p

https://www.theice.com/products/910/UK-Natural-Gas-Futures/data?marketId=5253318

Sorry, overlooked Yanis's post of earlier.

https://twitter.com/angusenergyplc/status/1499704708071448576?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet

Personally, don't believe price movements always have to be triggered by news items.

There's a lot of information out there already. All it requires for the share price to move upwards is for more PIs to decide to take advantage of the current price and buy or reinforce.

Lowest mid-price so far today: 0.725p.

That's true, Taverham, the market in general hasn't exactly been leaping for joy just recently.

That is, oil prices would follow the path of natural gas prices - they are a long way behind at present.

Brent crude could end the year at $185 a barrel if Russian supply continues to be disrupted, JPMorgan Chase & Co. wrote in a note Thursday.

Oil prices have skyrocketed, with Brent crude approaching $120 earlier Thursday as traders shun Russian oil after Moscow invaded Ukraine. U.S. President Joe Biden is facing calls to ban Russian imports of energy but so far has not imposed full blown sanctions on oil.

Currently, 66% of Russian oil is struggling to find buyers, JP Morgan analysts including Natasha Kaneva said in the note.

In the short term, the scale of the supply shock is so large that oil prices need to reach and stay at $120 a barrel for months to incentivize demand destruction, the analysts said, assuming there would be no immediate return of Iranian crude barrels...

https://www.bloomberg.com/news/articles/2022-03-03/jpmorgan-says-185-oil-in-view-if-russian-supply-hit-persists?srnd=premium-europe&sref=Em01M8Hr

Brent crude could end the year at $185 a barrel if Russian supply continues to be disrupted, JPMorgan Chase & Co. wrote in a note Thursday.

Oil prices have skyrocketed, with Brent crude approaching $120 earlier Thursday as traders shun Russian oil after Moscow invaded Ukraine. U.S. President Joe Biden is facing calls to ban Russian imports of energy but so far has not imposed full blown sanctions on oil.

Currently, 66% of Russian oil is struggling to find buyers, JP Morgan analysts including Natasha Kaneva said in the note.

In the short term, the scale of the supply shock is so large that oil prices need to reach and stay at $120 a barrel for months to incentivize demand destruction, the analysts said, assuming there would be no immediate return of Iranian crude barrels...

https://www.bloomberg.com/news/articles/2022-03-03/jpmorgan-says-185-oil-in-view-if-russian-supply-hit-persists?srnd=premium-europe&sref=Em01M8Hr

Having exceeded 460p, front months are now little changed on the day, in the high 300s:

https://www.theice.com/products/910/UK-Natural-Gas-Futures/data?marketId=5253318

Transport costs will go up, of course, but, given the uninspiring levels of production at the present (and, therefore, uninspiring levels of water production), cost of sales will reduce as a percentage of revenue.

Ibug,

If production is less than 63.85 bopd, then revenue will be less than £2m. Mind you, at 63.85 bopd, revenue will still be about £2m.

The volume of water shouldn't increase with the price of oil so the cost of sales as a percentage of revenue will reduce.

At $115, each barrel of oil generates annual revenue of $41,975 or, at 1.34, £31,325.

For those who don't like to be informed of the price of Brent, turn your eyes away now:

$114.45