Member Info for philpot1001

if it gets that low again I will top up

hopefully the next quarterly figures are more rosey without the write offs

looks like the reports today are quoting losses of £5Bn not $4Bn, my mistake (I think, or could have been an article error, cant recall)

Got to say I think the SP has held up a lot better than I expected it to, as the $4bn loss seemed to come as a shock. That said I will reserve judgment until about a week down the line as sometimes these things have a habit of delayed reaction.

looks like Shell made a $4Bn loss this quarter. That may hurt the SP unless it was expected.

RDSB took a $2Bn charge for abandoning Canadian exploration ....from BBC News "Lost in the news avalanche this morning was Shell's announcement last night that it will take a $2bn (£1.3bn) charge following its decision to stop building an oil sands project in Canada. " Doesn't appear to have affected the share price though, up today slightly lol (along with Brent slightly)

LOL this is becoming a nasty habit of mine on these forums....maybe BP in 2017 ;)

I'm looking to possibly top up at some point, but for me, Brent has shed 10% over the last 2 weeks, and RDSB has only lost around 2-3%. Doesn't add up to me. I'm hedging my bets that RDSB will lose some ground unless Brent bounces for some reason. Based on the way RDSB has tracked Brent religiously prior, my estimate for RDSB is around 1650-1700 based on current Brent values............but I could well be wrong, certainly wouldn't be the first time ;)

Ozzies have delayed their verdict on the BP merger by a week.

bit of a strange rally on RDSB today after sinking earlier, seeing as Brent is now down at $48.67

http://www.businessspectator.com.au/news/2015/10/19/markets/brent-crude-falls-1-after-chinese-gdp China reported third-quarter growth of 6.9 per cent, adding to concerns about a slowdown in the world's second-biggest oil consumer. Other economic data released on Monday showed disappointing results in investment and industrial production. "This would likely be weighing down on commodity usage in China as it would weigh down on prices," said Daniel Ang, an analyst at Phillip Futures. Brent crude, the global oil benchmark, fell 1 per cent to $US49.90 a barrel on London's ICE Futures exchange. On the New York Mercantile Exchange, West Texas Intermediate futures were trading down 1 per cent at $US46.78 a barrel. While China's GDP of 6.8 per cent slightly outpaced expectations, according to economists polled by The Wall Street Journal, it added to doubts that Beijing can meet its year-end growth target of about 7 per cent. Members of the Organisation of the Petroleum Exporting Countries, the 12-nation oil cartel, have continued to pump crude at a high pace despite the global oversupply in a bid to defend -- and gain -- market share. A technical meeting between OPEC and non-OPEC nations later this week isn't expected to bring any cuts to production to prop up prices, analysts said. "While all parties involved in such discussions want higher prices, none have been willing to cut production," said Adam Longson, analyst at Morgan Stanley.

thar she blows! rollercoaster begins again.....

"Oil fell under $49 per barrel on Thursday, as selling continued after a jump in U.S. stockpiles shown in industry data the day before. Brent LCOc1 eased 20 cents to $48.95 a barrel by 1131 GMT. On Wednesday it hit a low of $48.71, the weakest since Oct. 5." Although I have to say Shell is fairing better than I thought It would given the price of Brent. Looks like this could be the trough from the news, and would expect a rise from this point in the coming days (maybe).

Although looking at it again, looks like its probably the latest Chinese data that's dragging Brent down ATM

Brent is dipping down into the $48 regions again.......the US stock pile figures get released today I think, so that's probably having some effect

No idea how much $4Bn sits regarding effect on profits though? Is it small fry or a huge chunk? My gut feel is it will be an appreciable loss that may not sit well with investors when formally announced on balance sheets.....even though they should be aware of the figures already.

I think I recall seeing the Alaska withdrawal was going to create a $4Bn hit which I think will show up in this quarters figures.....But that's just off memory.

That said the EIA are predicting a converging of supply and demand with a price of $58 avg for 2016......so depends who you believe, IEA or EIA, you say potato....lol

From BBC News: The oil glut is likely to continue into next year, according to the International Energy Agency. In its latest monthly report the IEA, which researches the energy industry for wealthy nations says: "A projected marked slowdown in demand growth next year and the anticipated arrival of additional Iranian barrels - should international sanctions be eased - are likely to keep the market oversupplied through 2016."

i've just reloaded my chambers, got £2K to play with, going to use £1K if it drops to mid / low 1700's and use the other £1K only if it gets below 1700.....currently on the up again now though.