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Https://news. bloombergtax. com/daily-tax-report-international/uk-treasury-aims-to-simplify-oil-and-gas-taxes-kicks-off-review

UK Treasury Aims to Simplify Oil and Gas Taxes, Kicks Off Review

The UK Treasury is reviewing the oil and gas sector’s fiscal regime, including available taxes and incentives, in order to ensure its long-term health.

The review will consider all parts of the oil and gas fiscal regime, including the petroleum revenue tax, ring fence corporation tax, the temporary energy profits levy, and tax reliefs such as first year 100% full allowance on capital expenses.

As part of the review, announced Monday, the Treasury has called for evidence on the current fiscal regime’s impact on the sector. The consultation closes on Sept. 11.

Https://www.bloomberg.com/news/newsletters/2023-07-31/saudi-arabia-won-t-relax-its-oil-grip-even-as-prices-rally

Saudi Arabia Won’t Relax Its Oil Grip Even as Prices Rally

Seasoned OPEC watchers don’t expect the cartel leader to open the taps just yet.

The Saudis and key partners such as Russia will hold an online meeting to review the outlook Friday, and the demand landscape they’ll survey remains highly uncertain. Fears of a recession continue to haunt the US, while economic indicators from China have been disappointing.

Furthermore, if the Middle East heavyweight does opt to restore production, it might erode discipline among its comrades. Moscow has only just started to implement pledged output reductions itself after months of prevarication.

But perhaps most importantly, the oil price may still be too low for the kingdom.

Since it finances generous social provisions for citizens and the ambitious economic reforms planned by Crown Prince Mohammed bin Salman, Riyadh likely needs a price closer to $100 a barrel, Bloomberg Economics estimates.

CE Brent crude September futures at $84.99

Highest settlement value since 14th April.

Market seems to like a future for NS oil and gas ....⬆️

today's new is not SQZ specifically taking a new licence it about NS operating and having a future...

⬆️

With respect Newk I would imagine the many CEO's seeking the 100 licences have a very different take as they are running the business's and simply taking an nover seas project is not as simple as some suggest, take a look at JSE today for example.....we all have different takes, it's what makes a market, however the oil and gas operators in the NS clearly see opportunity :-)

In addition the 100 licences about to be awarded are from Oil companies applying to operate them, the folk running the business's who can see some potential profits from operating in the North Sea.....the licence application was over subscribed, so some poster on some bb's may not see the potential in the NS but clearly those running Oil/gas operations can....

The way SQZ operates puts them in a better position than most to be able to utilise some NS options and yes the tax is a pain, however, SQZ is one of the few who can use some tax losses, operate on a quick 'in and out' basis and still make a profit alongside having the cash to invest outside UK.....looking at the overall business and options they have SQZ are positioned better than some of the Statler and Waldorf posts suggest :-)

Poised to take some sellers shares, timing markets very hard, however, nice when it works...it's what makes a markets, holders, sellers and buyers :-)

Https://www.youtube.com/watch?v=NpYEJx7PkWE

Sqz investors

All on track,not long ( Q4 potentially) for a transformational increase in production, revenue and profits, divi increase announced for next pymnt, that'll do and oil prices have rallied since results adding to cash balance....a lot to like :-)

Https://www.youtube.com/watch?v=NpYEJx7PkWE

:-)

We're Using More Oil Than Ever

The world is consuming more crude than ever. Peak oil demand? Not yet. Maybe one day, perhaps even soon, around 2030. For now, however, the global economy still runs on oil.

It will take a while before governments certify it, but every piece of data points in the very same direction: In the past few weeks, global oil demand has surpassed the monthly peak set in 2019 before the Covid-19 pandemic.

Expressed in barrels a day, the fresh record high in global oil consumption totals about 102.5 million, likely hit in the last few weeks in July and above the 102.3 million of August 2019.

https://www.bloomberg.com/opinion/articles/2023-07-27/the-harsh-truth-is-we-ve-never-consumed-this-much-oil?utm_source=website&utm_medium=share&utm_campaign=twitter?sref=5dj0X2VO

Https://twitter.com/BloombergNRG/status/1684107748416294914

European natural gas prices rise for a fifth day, the longest streak since April, as outages tighten global supply

Oil up 17% on the month and up 5% this week

UK gas up 23% on the week

https://tradingeconomics.com/commodities

Got to be close to finally off loading last of warrants as declared couple of weeks ago...brakes will then be off ahead of production news and potential broker upgrade.

broker note - '' High yielding 15% FY23E and FY24E (as per RNS of 30 March 2023) is not yet priced-in by the market. Expect FY23E guidance to be raised in August. Expect strong future growth in reserves and production''...initial target 100p+

https://twitter.com/surprised_trade/status/1683486756065222658

Try that again....

UK Energy Minister Grant Shapps: the UK govt. intends to tap all of its North Sea oil and gas reserves.

Shapps; higher carbon emissions would result from reliance on foreign imports of oil and gas if the North Sea is abandoned.

UK energy Minister Grant Shapps says the British government intends to extract one-hundred percent of its North Sea oil and gas reserves and still achieve net-zero carbon emissions by 2050, while the Labour Party has vowed to refrain from issuing any further exploration and production licenses if elected by January 2025.

According to Shapps, higher carbon emissions would result from reliance on foreign imports of oil and gas if the North Sea is abandoned. The energy minister has referred to the Labour Party’s stance against North Sea oil and gas as “madness”, criticizing the policy for making the UK vulnerable

https://oilprice.com/Energy/Crude-Oil/UK-Energy-Minister-We-Will-Produce-100-Of-North-Sea-Oil-And-Gas.html

Https://oilprice.com/Energy/Crude-Oil/UK-Energy-Minister-We-Will-Produce-100-Of-North-Sea-Oil-And-Gas.html

UK Energy Minister Grant Shapps: the UK govt. intends to tap all of its North Sea oil and gas reserves.

Shapps; higher carbon emissions would result from reliance on foreign imports of oil and gas if the North Sea is abandoned.

Charles Kennedy

Charles Kennedy

Charles is a writer for Oilprice.com

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UK Energy Minister: We Will Produce 100% Of North Sea Oil And Gas

By Charles Kennedy - Jul 24, 2023, 10:00 AM CDT

UK Energy Minister Grant Shapps: the UK govt. intends to tap all of its North Sea oil and gas reserves.

Shapps; higher carbon emissions would result from reliance on foreign imports of oil and gas if the North Sea is abandoned.

Labour leader Keir Starmer has pledged that his party will not grant any new North Sea licenses if they win the next general election.

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UK Energy Minister Grant Shapps says the British government intends to extract one-hundred percent of its North Sea oil and gas reserves and still achieve net-zero carbon emissions by 2050, while the Labour Party has vowed to refrain from issuing any further exploration and production licenses if elected by January 2025.

According to Shapps, higher carbon emissions would result from reliance on foreign imports of oil and gas if the North Sea is abandoned. The energy minister has referred to the Labour Party’s stance against North Sea oil and gas as “madness”, criticizing the policy for making the UK vulnerable

Https://twitter.com/surprised_trade/status/1683402557874487297

Lol, nope we are different people..sinilar approach though and similar stock holdings

Https://twitter.com/surprised_trade/status/1682299709703028736