Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
Watching this just now, coming from Aberdeen. Same as question time... Interesting the level of support for O&G from both audience and some panelists... Numbers mentioned were uk spent 117 billion on importing oil & gas in 2022 and 25,000 jobs at risk in the North East. Missed the start so no more info but nice to see support.
Be like Xmas eve tonight, going to bed and hoping for something nice tomorrow in the way of shareholder value. Way I see it is simple : us (Harbour) V noise ( opposition party, Joe Public brainwashed by BP and She'll profits on news and the stop fossil fuel brigade), with gov. Uk in the middle. They can't please everyone, so rationale tells me there will be something for all tomorrow in an attempt to keep the lights on whilst stopping anarchy. Be surprised if that does not equal a revised sliding scale for tax on profits, tempered by O&G industry agreeing to step up the transition to renewables / carbon capture. It's inconceivable to think it will carry on as is following the industries warning of future investment, job losses etc etc.
Hope the guys in charge at all the UK O&G companies are watching tonights news and drafting their letters to gov.Uk looking for some "balance" across all uk business. The profits being made by those supplying agency workers to the NHS is staggering. One locum alone cost the tax payer an incredible 5k for one shift.
Add to that the story on BBC scotland about the 2 folk fae Aberdeen attempting to do the North to South Pole in an electric vehicle to show the internal combustion fossil fuelled engine has an alternative. Aye, its covered in solar and seemingly will be pulling a trailer mounted wind turbine mind. No quite what 99.9999 % o the population will be using for the daily commute or shopping.
Well said cheap..."experts" everywhere.
Cheers davey...mibbees a nice big takeover lift in sp and you'll can buy a cafe racer if that's your thing.
Ex dividend date is the 16th?
I'm guessing come next year it will be oil.
Metric. Yup, I'd agree with that figure.
That should be $ not £... My reading not very good either
Interesting story.. I get £12billion valuation. As I only have o grade arithmetic I could be wrong lol.
Quick way to resolve, get all the names and addresses of all those involved in claims etc against O&G industry and disconnect their energy supply that is not 100% generated from hydro or renewables...Along with banning them from using any vehicle that has an internal combustion engine. Imagine there would soon be a shift to an attitude change.
Good shout hitman...that's a decent pathway to clearing up what's become a bit of a "dogs dinner"... Perhaps you should stand for election.
That's a good point Mansard...guessing that there are more "Bankers" in the front benches than oil workers. No, that's not a typo LOL W.
Just seen that Apache have decided to cancel a drilling contract in the North Sea with "windfall tax" being given as the reason... Somethings got to give? with the current stance of government... You can't have energy security when the backdrop is a growing number of companies reducing their exposure/operation all because of the same thing.
You'd think there might well be a re-think at gov.uk in the near future.
Bad news for S****horpe today with the news of possible closure due to costs involved in making coke... Part of the blame due to the costs to cover the carbon offset, bizarre when all that's going to happen is the same if not more carbon will be produced in making it in some far off land then shipping it half way around the world. Interesting that Reynard has came out from her Labour Carbon Free bunker and said they will fight to save well paid skilled jobs, wonder if they'll come out saying the same for the O&G industry if the UK continues it's crazy attitude towards the North Sea and we see the same outcome.
Hopefully the tide turning a bit for North Sea O&G, imagine the gruesome twosome of Lorna Slater and Patrick Harvie will be aghast wae Krankie gone and a potential change in attitude should Ash take charge.
Hopefully Andrew Bowie has a voice and some influence with his fellow policy makers.
Not something I have any idea about, but maybe some accounting / taxation genius could have a stab at an answer... With the number of oil and gas operators with uk interests who have said they are scaling back on projects etc etc, at some point the lost revenue that reduction equates to will overtake the extra revenue the windfall tax raises, not to mention the jobs and need to simply move to importing more energy from abroad. Wonder how long that could be. You'd think someone in government could make their fellow party members see the light and have a rethink.
That's a good shout Kraken, I feel your pain. It's all very well the government caving in to the gnashing of teeth and wailing from the media by deploying the "windfall tax"...perhaps there is a case for enq shareholders to pursue the government for any losses incurred by their actions. I'll need to google if there's a precedent. If so I'll be on the phone to claims direct lol. Joking aside. hopeful that things improve as oil price rises.