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According to Bloomberg, the oil trading giant Trafigura tried on Tuesday to sell a load of Ural oil with a record high discount of 18.6 dollars per barrel compared to international comparison prices without receiving any bids.
According to Bloomberg, the difficulty in selling the oil is partly due to the fact that more companies that own oil tankers are cautious until it is clearer what applies with the sanctions and that some international oil traders are afraid of negative publicity if they handle Russian oil.
"About 70 percent of the Russian crude oil trade is frozen. Most major players do not concern Russian oil and only a few European refineries and trading companies remain in the market ", writes the consulting firm Energy Aspects in a market letter according to Bloomberg.
Squif, point is there several alternatives out there with attractive valuations and dividend start near term.
So no reason be over exposed to AB.
It’s very difficult calculate what will perform best over let’s say 5 years.
And specially with Enquest as nothing been presented and involves developing Bressey and Bentley.
With dividends coming I won’t care much about share prices anymore
https://www.aftonbladet.se/nyheter/a/y40yMR/brittiska-regeringen-planerar-nya-oljefalt
Majority dates back to summer 2021, see half year report:
For 2022, EnQuest has hedged a total of c.6 MMbbls using similar structures, with an average floor price of c.$61/bbl and an average ceiling price of c.$75/bbl. For 2023, the Group has hedged a total of approximately c.1 MMbbls with an average floor price of c.$55/bbl and an average ceiling price of c.$73/bbl
Good morning Romaron,
We talked about these tax cuts years ago.
Another way could be buy a company loaded with money/ profits. Let’s say there a company with 1b cash but obligated pay 40% tax then only worth 600m.
Buy it for 600m and you get 400m extra.
I am off to skiing today in Austria so I leave it to you and AB sort out the details:-)
I remember after end 80’s crash there was a lot empty tax loss companies for sale.
Maybe it’s not necessary oil another oil company would be buyer. Buy and sell assets without tax losses and use the tax losses. Let’s hope AB gets max value out of this soon!