RE: PQE18 Jun 2021 21:35
The QFI share price has jumped and slumped many times over the years, I’m well used to it Helpless, I have no problem other than those who continually mislead investors with their bull.
“West Texas Intermediate (WTI) crude oil is a specific grade of crude oil and one of the main three benchmarks in oil pricing, along with Brent and Dubai Crude. WTI is known as a light sweet oil because it contains around 0.34% sulfur, making it "sweet," and has a low density (specific gravity), making it "light."
The key point above is low density, ie it can pump easily and flow through pipelines and onto tankers. Utah bitumen is high density and cannot, it’s that simple. What Utah bitumen has in its favour is low sulphur.
The WTI standard is clear, to be priced against this benchmark you first have to meet its basic description. Low sulphur and low density, any deviation from that norm incurs a price penalty, Utah has one but not the other. The reason PQE were paid the WTI price is because they dilute the bitumen with solvents to make it less dense and the refinery concerned needs bitumen for the roads.
Take whatever time you need Helpless, it will not change the facts.