We would love to hear your thoughts about our site and services, please take our survey here.
Guyana votes amid high hopes over oil discoveries https://www.bbc.co.uk/news/world-latin-america-51544071 very interesting read from the BBC in Guyana. What an amazing opportunity for such a small nation of less than 1 million people.
Yes that’s true Groover. As Copl wasn’t bidding for this. It is for something completely different. To take existing oil production and refine into petroleum products. This is also known as downstream operations. Aka refining into petrol etc.
Hi Bell. A performance bond is listed against an actual asset. In this case it would be cash from shoreline. So basically if the JV doesn’t perform their duties and obligations the bank takes 7 million dollars from shoreline and gives it to NNPC. Nothing to do with credibility or art in this case.
Agreed. Very well said. Also worth noting that there will be a lot of work to do when things get going. And the last thing you want is a weak team in place when operations begin. I have seen a few oil and gas companies get all the approvals then move forward and have disappointments relentlessly afterwards which many would blame on the operations team. Also having the same team that put the plans in place will help seamless operations and the ability to execute at the best level and in good time. Rather than have a brand new team try and learn everything and execute the plan. Near term pain for long term gain. IMO
Good question. Some media have reported yes. The company has not as far as I know officially confirmed it. I suspect it has been though as these things don’t actually take long. One can only guess why they have not RNS this if it is approved. Unless they are waiting for the final placing shares to be in the market or they want to include some larger news with it. Here’s hoping for some positive news flow next week. Have a good weekend!
Well quite guitar. Essar would be mad now to cause any issues. shorecan has sorted the bid bond (still pending ) which was going to be done by essar. So they are now spectators and no reason to cause waves. Agamore is laughable and I imagine essar would support shorecan now in the fact that they did nothing. Still hoping operations will commence in earnest soon. Good weekend all!