Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
and the "Games" continue ?
Well they do if you believe all the current nonsense.
LOL
Biden is a slow learner. He has already poked OPEC / NBS and lost. It would be smarter to increase oil production in the USA rather than closing it down as he is now. In the guise of Climate Change.
They promised the deal by end of March , around the same time as the new CPR.
Just a coincidence of course ?
I would expect the new CPR to address 100% of the reservoir as opposed to the ~10% covered by the original. Whats in the FDP depends on circumstances.
Peel Hunt BUY note
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HTTPS://twitter.com/GoodnightCharl1/status/1624088465599082496?t=LMz09qrT7XVD7E5QPo9yhw&s=19
As Todd Kozel told us a decade or so ago...... Shaikan ...the Country maker.
WHY IS THE O&G LAW A GAMECHANGER ?
The primary reason , at least so far as GKP Investors are concerned, is that it removes the probability of one very strong risk to Investment . The ( albeit low) probability of ALL Kurdish O&G assets being confiscated by the ICG in the ongoing harassment of the Kurds for political / religious reasons . Harassment that has been going on in one form or another for decades.
The Law will effectively legitimise ALL Oil and Gas assets in Kurdistan AND the rest of Iraq in the eyes of the International Oil and Gas community. This is critical because of the way Global Players analyse asset risk.
All of them carry out a full Risk Assessment of any asset they are considering purchasing. Particularly any that involve potentially many $billions of purchase and investment CAPEX. i.e GKP.
( Note: Another term commonly used for this process is “Due Diligence)
These risks include : Financial: Technical: Environmental; Social : Geo Political and country specific Political factors. Each one of them is analysed individually and given a calculated numerical value. If the numerical value thus calculated for any one of these factors is above the deemed “acceptable” level. Then the asset is put on a “Watch only /Hold ” category until the in-country situation changes. Which is (hopefully) about to happen in Iraq.
The process is both time consuming and expensive and takes many months or even a year or more to complete. Then the results have to be formally presented to , questioned by , and accepted by , the full board of the Company concerned. ( That typically takes at least another 6 months to a year or more )
This methodology, in one form or another , is used by every Global Oil Company in the world
( Chinese included , and which neatly explains all the Chinese studies on Shaikan ) There is no such thing as an “impulse” decision by INOC’s.
There was never any real issue with GKP or its assets IMO. The issue has always been risk to investment. No INOC would ever consider investing anywhere if there was a probability of them having the asset confiscated . The full Board would never accept it.
NB: There are political solutions to the above scenario in the form of Contractual guarantees but obviously the ICG would not give them in regards to the Kurds.
Which why this acceptance of the HCL ( IF it happens ) will indeed be a “gamechanger”.
H7
$100 OIL TO RETURN IN 2023
By Alex Kimani - Dec 21, 2022.
Eric Nuttall, partner and senior portfolio manager at Ninepoint Partners LP, has told the Financial Post that oil prices will return to $100 per barrel in 2023. According to the analysts, many of the headwinds that have cut short the oil price rally this year including China’s zero-Covid policy and the coordinated SPR releases by several governments, will no longer be there in 2023. Coupled with sanctions on Russia’s oil and gas, this should elevate oil prices. He has also predicted that the energy sector will continue to outperform other market sectors due to high demand in oil and gas stocks.
Nutall is not the only bull here. Last week, the Bank of America predicted that Brent could quickly go past $90 per barrel on the back of a dovish pivot in the U.S. Federal Reserve and a “successful” economic reopening by China.
BofA has forecast that Brent prices--currently trading at $77.93--will average $100/bbl in 2023 thanks to Chinese oil demand recovery on a post-COVID reopening coupled with a drop in Russian supplies of about 1 million barrels per day (bpd). According to the investment bank, OPEC+ is likely to fully implement a 2 million bpd output cut in a bid to boost oil prices.
The forecast has come at a time when oil prices have been steadily declining due to fears that a weakening global economy would curb fuel demand. Last week, Beijing announced the most sweeping changes to its strict Covid-19 guidelines, including relaxing testing requirements and travel restrictions. Further, people infected with Covid-19 but have only mild or no symptoms are now allowed to isolate at home instead of convalescing in centrally managed facilities.
“Our oil demand and price projections for 2023 rely heavily on robust China and India demand growth, so any Asia reopening delays could affect our expected price trajectory,” said the bank, adding that the path to a post-pandemic environment may not be easy “given the low levels of immunity in China.”
Crude oil futures have surrendered nearly all gains for the year, posting their largest weekly losses in more than eight months, as restarts for key pipelines eased supply concerns coupled with ongoing worries about a global recession and weaker crude demand from China.
By Alex Kimani for Oilprice.com
Thats 2 of us then !
LOL
Hi FH1
I suppose we can classify you as one of the "odd idiots " ?
LOL
Not really worth posting anymore , most of it has been said over the years and I doubt anyone would take much notice anyway. They are too busy reading all this repetative rubbish posted by the same few agenda driven city trolls ( and the odd idiot) over and over ad nauseum.
The company speaks for itself to anyone with the nous to do a bit of research.
But not yet.
The ICG/KRG are running out of time , so surely they must realise the opportunity offered by current events ?
Iraqi oil is needed by the EU and the US , who will certainly be applying pressure behind the scenes. However in the past common sense and good will seemed to be in short supply on both Iraqi sides. All we can do is hope ..yet again.
It may very well be "old news" but it is extremely relevant. Shell ran Sakhalin and now they dont, which means a large revenue short fall for Shell . Jaap was trained in Project Management by Shell and is thought very highly of by them.
Draw your own conclusions.
OPEC+ cuts oil output
The intergovernmental organization agreed this week to cut output by 2 million barrels of oil per day. As some members of the cartel are already producing below their targets, Goldman Sachs Research estimates the reductions are effectively a cut of 1.2 million barrels per day (as compared with their previous expectations for November output).
Our analysts raised their oil price forecast by $10 per barrel to $110 for the last three months of the year and to $115 for the first quarter of 2023. “Price risks are skewed potentially even higher,” says Damien Courvalin, head of energy research in Goldman Sachs Research.
Well I cant disagree with that sentiment.
Remember its his job....Broadfraud is a paid troll.
There is no proof anywhere that any of this scaremongering nonsense applies to GKP - past or present. But you can bet they have all tried to find some.
Then we have the EU stopping all Russian Oil Imports in December. This will affect the UK because we currently import ~ 15% of our oil and 10% of our gas from Russia. Facts they have been very careful to hide from us.
Thats almost a given by January 2050.
But for the next few years it will be nearer $100 than $40.