The latest Investing Matters Podcast episode with London Stock Exchange Group's Chris Mayo has just been released. Listen here.
People forgetting the structure of previous deal which ran foul of Ugandan tax authorities. This is cash and tax issues settled and considering the climate tlw did will to extricate from Uganda. It's not great and not terrible. But 575million usd will reduce interest by approx 35million PA, or breakeven by about 1.4usd / bbl. I consider the deal to be critical, now let's have oil over 40/bbl
https://oilprice.com/Latest-Energy-News/World-News/Shell-Postpones-Investment-On-Two-Major-Oil-Projects.html
Is shearwater one of the potential acquisitions?
With all production shut in all inventories everywhere will be gone in 30 days, and some (maybe 5mbod) might never come back and in 6 months the shortage could be severe enough to spike oil into the 100++ area which would really fk up the general recovery process. I'm all for the idea but I think that the general good needs considering too.
Maybe I wasnt brought up in the UK and we were a bit behind the advanced UK at the time!
EC, you must be young.
Electricity generation via oil is probably 3% tops. I think the choking smog you refer to arises from coal burning power generation. In China coal is being replaced by gas which is significantly cleaner. But India is burning a lot of coal.
Us older guys will remember smog you could taste in the 70,s as most houses heated with coal fires. Later anthracite and then replaced by usually gas.
The statement was "oil is finished" implies immediate! Of course it's a bull**** statement as was my sarcastic response!
Oils no more finished than beer drinking is finished or going out doors is finished
Oils finished,
I'm waiting on the memo!
1.4billion ICE cars to be replaced in a month
400million commercial vehicles to be replaced in a month
Numerous power plants accounting for 6mbod to be repurposed in a month
It's a tall task but achievable especially when I dose up with magic mushrooms and dollops of ecstasy
That's the most logical thing said on here in a month!
Very few breaking even at 35, maybe with capex reductions there is an improvement. BP be was 45 before the **** hit the fan. I think shell was even higher.