Member Info for ocelot

Speaks of £50m pre-tax over the lifetime of the project (12 years) and says "there's a lot more there" at the level of contingent resources.

... And it’s the aversion to new investments triggered by the price collapse that will have a much longer-term impact, potentially sending prices soaring again in the future. That will happen if capacity expansions in Saudi Arabia and other low-cost producing countries fail to keep pace with demand — demand that itself could get a boost from the same low prices — just as output declines elsewhere.

Even if the kingdom backs away from its pump-at-will policy, as it did previously with the introduction of the OPEC+ output deal in 2016, the threat of a repeat will continue to hang over the industry. In a world where oil prices are driven down to $30 a barrel or lower every few years, investing in new production capacity becomes a much more difficult decision to take. The Saudi safety net, which the global oil industry has come to take for granted, has just been ripped away.

https://www.bloomberg.com/opinion/articles/2020-03-15/by-pumping-at-will-saudi-arabia-hurts-oil-investment-everywhere?cmpid=BBD031620_OEU&utm_medium=email&utm_source=newsletter&utm_term=200316&utm_campaign=openeurope

Shall we compromise on 4,900?

Tempted to buy some, Leem?

Brent (oanda) was about $33.40 at 4.30pm on Friday, now showing at $31.95.

And then there's all the dogs that need walking!

Q: Why did you buy 37 bags of pasta?

A: Because they didn't have any more.

Looks as if the airlines are getting in first, Hawkey.

Madrid (AP) -- The Chinese soccer team that was originally stuck in Spain because of the coronavirus outbreak is going back home to try to avoid its rapid spread in Europe.

Wuhan Zall was expected to return to China on Saturday, nearly 1 1/2 months after it arrived in Spain for preseason training. The team had not been able to leave because of the restrictions in China, but expedited its departure because of the worsening situation in Spain...

Sujood,

They are promoting their interview with GL, which appears in the left-hand margin.

Trump made a good impression this evening, the US is getting its act together.

Will take advantage of the oil price decline to fill the strategic reserve to the brim.

Been listening to Trump - came across very well, along with all those on the platform, mobilising the forces of the public and private sectors.

Taking advantage of the oil price decline to fill the strategic oil reserve to the brim.

https://uk.reuters.com/article/uk-oil-opec-saudi/saudi-arabia-floods-europe-with-25-oil-as-fight-with-russia-escalates-idUKKBN21023A

.

It's a difficult one, it's not behaving as one would expect, suspect there is a big (maybe forced) seller.

... “Riyadh is really mad at Moscow for their move in (the) OPEC meeting, so they target (the) Urals markets first”, a source at a European trading firm involved in Urals trading said.

Market sources said that Saudi Aramco is trying to replace Urals in refiners’ feedstock in an attempt to punish Moscow and get the Russians back to the negotiation table...

https://uk.reuters.com/article/us-oil-opec-saudi-russia/saudi-arabia-moves-to-grab-russian-oil-market-share-sources-say-idUKKBN20Z2LH

That'll be Suzy, then!

Didn't know that, seadoc.

Is the 2nd one for decorative purposes?

Venezuela is in discussions with OPEC and Russia about the current oil price collapse, Nicolas Maduro said on Thursday at a press conference shown on Twitter, according to Russian news agency TASS...

https://oilprice.com/Latest-Energy-News/World-News/Venezuela-Looks-To-Play-Mediator-Between-OPEC-And-Russia.html

"They don't ring a bell at the bottom. There's never an unambiguous buying signal to tell investors when a brutal sell-off is over and it's a good time to board the stock-market roller coaster again ...

There will be a moment when the smart money sees the bearishness as overdone relative to valuations and piles in. It will come long before mainstream opinion sees the crisis as over. They won't ring a bell".