Shell Share Discussion Threads

[2hoggy] 03/12/2017 17:24

Ariane

Thankyou,interesting..

[ariane] 03/12/2017 16:53

As Beijing fights air pollution, natural gas producers stay warm and happy despite shortages

Analyst says exchange set up to trade natural gas has yet to realise full potential
PUBLISHED : Sunday, 03 December, 2017, 2:11pm
UPDATED : Sunday, 03 December, 2017, 11:29p
28 Nov 2013
China’s northern provinces may face a shortage of natural and cleaner gas this winter as supply falls short and gas prices rise. Provinces and cities have been switching from coal to natural gas in response to Beijing’s anti-pollution crackdown.


A natural gas shortage this winter – fuelled by Beijing’s war on air pollution – has left some villages in northern China out in the cold, even as gas producers benefit from higher charges made possible by a loosening of the government’s grip on prices they had been longing for years.


The measures include an edict for 28 cities in northern China to suspend some energy-intensive production lines and convert industrial coal boilers and home coal burners into gas-fired units.

Together with higher prices of more pollution prone alternative fuel, it has helped to lift the nation’s gas consumption by 18.7 per cent in the year’s first 10 months from the same period last year.

Surging winter demand – which amounts to six to eight times that in the summer – has resulted in shortages, especially in regions neighbouring the prime air pollution war targets of Beijing, Tianjin and Hebei province.

But the prices still do not fully reflect supply and demand, despite partial liberalisation, resulting in winter shortages.

PetroChina’s shares fuelled by move to increase natural gas prices for commercial users

“Beijing’;s ambitious policy to replace coal with natural gas for heating and industrial use has seen a substantial rise in our gas sales volume, with our selling price so far this winter rising over 30 per cent from this year’s summer prices,” said a senior official at a Shanxi-based gas producer who declined to be named since the data is commercially sensitive. “However, we are still a long way off from a full market-based pricing.”

The central government’s gas price reform two years ago allowed buyers and sellers of non-residential gas to set their own prices for the first time, subject to a cap of 20 per cent above the state set benchmark prices.


The long term goal is for further liberalisation in China – the world’s third largest natural gas market after the United States and Russia – to make the entire gas supply chain more efficient and lower the cost of the cleaner burning fuel.

Given the dominance of state-controlled PetroChina, the nation’s largest gas producer, importer, transporter and wholesaler, Beijing has set up a trading centre in Shanghai in parallel to the partial price liberalisation to support and groom a freer market.

The Shanghai Petroleum and Natural Gas Exchange is owned by the nation’s three largest state-backed gas producers, four of the biggest distributors, two major gas-fired power generators and Xinhua News Agency.

How global geopolitical forces play in a Chinese private firm’s favour in the purchase of key Russian jewel energy asset

“As the Shanghai natural gas trading centre finishes its first full year of commercial operation, both trading volume and prices have seen an apparent trend of increased market orientation,” said Wen Wang, senior gas market consultant at energy and commodities consultancy Wood Mackenzie.

Still, she noted that the cap meant current prices were too low to reflect tight supply during winter months.

“PetroChina and rival Sinopec have already taken advantage of the opening of the trading centre last year by selling some of their output there, since they can fetch prices as high as 50 per cent above the benchmarks,” she said.
As the Shanghai natural gas trading centre finishes its first full year of commercial operation, both trading volume and prices have seen an apparent trend of increased market orientation
Wen Wang, consultant at Wood Mackenzie

From the perspective of the state-backed oil and gas giants, such price increases at the exchange would help build their cases to local governments – which have previously pushed back at their requests – for higher increases of state set benchmark prices, she added.

Although the state giants would have the incentive to maximise their sales volume at the trading centre, in reality, only a small portion of open bid trading actually goes through the exchange.

This is because they have to meet the needs of their long term customers with whom they typically enter into annual contracts at negotiated prices, which are subject to the price cap.

According to industry estimates, only about 5 billion cubic metres were actually sold through open bidding, tiny compared to last year’s consumption of 210 billion cubic metres.

Xinhua, however reported that some 20 billion cubic metres was traded volume through the exchange.

Most of the 20 billion cubic metres was privately negotiated volumes that were not subject to open bidding but nonetheless registered with the exchange, Wang said.

“In the next few years, with state policy support for the centre to be a venue for further price deregulation, we can expect even more gas sold at market-based prices.”

But Laban Yu, head of Asia oil and gas equity research at Jefferies, believes that the only solution to China’s gas shortage is for prices to converge to exchange auction levels.


This article appeared in the South China Morning Post print edition as: Gas shortages come even as grip on prices loosens

[2hoggy] 03/12/2017 11:14

I notice from that article there is no mention of the cause of smog and pollution,the burning of coal.

It would be interesting to see if all these speculations of energy consumption will ever come true as I probably will not be here to make a comment.

I doubt it very much...

[sarkasm] 03/12/2017 07:26

OPEC Deal Could Produce Goldilocks Scenario For Saudi Aramco IPO – OpEd
December 3, 2017 Arab News 0 Comment

By Arab News

By Frank Kane*

Khalid Al-Falih, Saudi Arabia’s energy minister, would have come away from Vienna last week with the satisfaction of a job well done and mission accomplished, on two fronts.

As the Kingdom’s oil supremo, he would have been happy with the deal to maintain production by OPEC — and its new ally Russia — until the end of next year.

In his capacity as chairman of Saudi Aramco, he would be no less pleased that another variable had been ticked off in the preparations to launch the initial public offering of the world’s biggest oil company, also slated by official pronouncements for the end of 2018.

The deal to extend the cuts first agreed a year ago had been expected, but there was always the last-minute chance that Russia would baulk at the notion of holding its own output at present levels.

In the end, the deal will be reviewed at the OPEC meeting next summer, but if all goes to plan by then it should have done its job: Maintaining crude at around the $60 per barrel level, and further draining global inventories to the level of their past five-year average, which the Kingdom has said is its strategic target.

Brent oil stood at $63.73 per barrel in response, well in the range of the “sweet spot” many experts see for oil, and a level at which Saudi Arabia will feel comfortable, for several reasons.

At $60, the Kingdom and some other Gulf countries (though not Oman and Bahrain) will probably run a current account surplus for 2018, according to an analysis by Capital Economics, the London consultancy.

The fiscal deficit would shrink to a manageable few billion dollars, and the pressure on foreign reserves — already being reduced because of so-called “austerityR21; measures — would be reduced.

Analysts at Bank of America Merrill Lynch agree that around $60 is a “Goldilocks221; scenario for the Kingdom’s economy — not too hot, and not too cold — which helps non-oil sector growth and encourages progress toward the goal of fiscal balance, now unofficially moved to a target date of 2023. The bank, however, does see the possibility of an occasional “spike” in oil prices to as much as $75 per barrel.

The risk from oil at the $60-plus range, however, is that American shale producers swing back into action and flood the market again with their product, which was the main cause of the price collapse in 2014.

One veteran American oil man I spoke to last week said: “As soon as it hits $60, they (shale producers) load up the trucks again and head on up to Montana (one of the biggest shale regions in the USA).”

Maybe he’s right, but there are signs, according to other oil analysts, that the shale producers and their investors are not as ready to begin the expensive process of “loading up” in any meaningful way until oil hits $70. Low oil prices affect Texan shale men as much as they do sovereign states in the Gulf, and they too have fiscal pressures to contend with.

So the OPEC deal and oil at around $60 is good for the Saudi economy, but what does it mean for Al Falih’s other pressing concern — the IPO of Aramco?

Again, it looks like a Goldilocks scenario. At, say, $40 a barrel, there is a risk that global markets would not be able to value Aramco at anywhere near the official price tag of $2 trillion, and, it is widely suggested, the Kingdom would not want to go through the whole complicated and risky process of an IPO on global markets if the valuation fell below $1.5 trillion.

Conversely, if oil were to hit $75 and stay there for any significant length of time, the revenue boost for the Kingdom would make the need for funds from an IPO obsolete, some analysts speculate.

Personally, I feel this view understates the symbolic importance of the planned IPO for the Kingdom and its central place in the Vision 2030 transformation strategy.

There is a firm belief in official circles in Riyadh that the Aramco IPO will go ahead however high the price of crude, because it has been held up as the key to the rest of the privatization program designed to reduce public sector dominance of the economy.

Of course, the past couple of months have seen other complications in the global IPO process. The possibility of a trade sale to Chinese investors emerged as a real option under consideration, and the newly found confidence of the Riyadh stock market, the Tadawul, that it could mount an “exclusiveR21; IPO of Aramco further muddied the waters.

These are issues that Aramco and its advisers will have to deal with in coming months. But, with an agreement in Vienna and the stable outlook for oil for the next 12 months, at least they can do that against a background of greater certainty in oil markets than at any time in the past three years.

• Frank Kane is an award-winning business journalist based in Dubai. He can be reached on Twitter @frankkanedubai

[ianood] 02/12/2017 18:19

As an example of how quickly pension deficits can change please see below which although small beer came from Marstons figures of Thursday:
Pensions

The deficit on our final salary scheme was GBP5.4 million at 30 September 2017 which compares to the GBP34.0 million deficit at last year end. This movement is principally due to the fall in liabilities as a consequence of the increase in corporate bond yields.

[maywillow] 02/12/2017 17:06

WE SHELL B SAVED BY INHOUSE HEDGING EXPERTISE AND TRADING


PROVEN OVER MANY A YEAR

[sarkasm] 02/12/2017 16:53

Could big pension deficits endanger your FTSE dividends?

7
Large pension deficits at FTSE 100 companies could weigh down your dividends Credit: A Richard Allen

Sam Meadows

3 September 2017 • 7:53am

Dividends at some of Britain’s largest companies – many of them likely to be a staple of your portfolio – could be at risk from ballooning pension deficits.

Huge final salary pension obligations have the potential to limit your investment returns, with tighter regulation and negative publicity surrounding the demise of BHS, the defunct retailer once owned by Sir Philip Green, already taking their toll.

Analysis by Telegraph Money shows that, of the 10 companies paying the highest dividends in Britain, seven have a pension liability of more than £10bn, prompting concerns for the sustainability of payments to shareholders. Many of us will be investing in these companies through company pension schemes and other savings plans.

The deficit among FTSE 100 companies grew by £95bn in 2016 to £681bn, according to research released last week by pensions consultancy JLT Employee Benefits. Sixteen companies also reported a liability of more than £10bn, while Royal Dutch Shell alone has a shortfall of £73bn.

Respected fund manager Alex Wright, who runs the Fidelity Special Situations fund, pays particular attention to companies with large pension deficits, describing them as an “albatross around the neck”.

While it is possible to argue that pension deficits are merely an accounting concept, they do pose risks. “They are definitely something to be aware of and are important,” said Laith Khalaf, an analyst at Hargreaves Lansdown, the fund shop.

“You have some companies with very big pension deficits and that is undoubtedly a risk. “That said, companies tend to have long-term funding plans with their trustees. I know interest rates aren’t going anywhere fast but the only direction is probably up, and that could help solve the problem, although people have been saying interest rates will go up for years and they have gone down or stayed the same.”

The deficits are the legacy of the expensive “final salary” pension schemes that were once popular but have now been all but phased out and replaced with “defined contribution” schemes in the private sector.

Between them, HSBC, Royal Dutch Shell, National Grid, British American Tobacco and Lloyds Banking Group accounted for 34pc of all dividends paid out in Britain in the second quarter of this year. Only one of those companies, British American Tobacco, has a pension liability of less than £10bn.

Despite this bleak picture, independent pension consultant John Ralfe said there was little reason to be concerned. “If you are a FTSE 100 company then by definition you are one of the biggest companies in the country so you will have a high credit rating and be capable of issuing debt,” he said.

The real problem would come with smaller companies with less borrowing power, he added. A study by consultancy Barnett Waddingham, also released last week, into the deficit at FTSE 350 companies found that only 45 firms had increased dividends while reducing deficit contributions. This number has fallen from 79 in 2014 and 61 in 2015. This suggests that fewer are now giving priority to shareholders over pensioners.

Charles Cowling, a director at JLT, credited changes in behaviour on the part of firms with deficits to the actions of the regulator, but said the BHS scandal, in which Sir Philip Green’s company collapsed while it had a pension deficit of £571m, had also played a part.

“Every time something like that happens it affects behaviour in lots of different ways,” he said. “It makes companies more wary of buying and selling subsidiaries with pension schemes. If you are a buyer you need to undertake due diligence and if you are a seller you will be thinking ‘could that happen to me?’.”
A screengrab taken from UK Parliaments Parliamentary Recording Unit (PRU) shows Sir Philip Green giving evidence to the Commons Business select committee on the collapse of BHS
Retailer BHS, owned by Sir Philip Green, collapsed while it had a pension deficit of £571m Credit: AFP

He added: “The regulator is encouraging more deficit contributions, sometimes at the expense of dividends, and when that does happen it will hit share prices.”

However, he echoed Mr Ralfe in saying that shareholders should not be too concerned. JLT’s report also acknowledged that 41 FTSE 100 companies could wipe out their entire deficit with one year’s dividend payment, while 11 companies could clear their deficit with two years’ worth of payments.

“Investors should be aware of it and those companies with larger schemes need to take a much closer look at them,” Mr Cowling said. “But the share price should include all current information, including a deficit, so it’s not as if that information isn’t in the public domain.”

And there is one piece of accepted wisdom which certainly doesn’t seem to have changed - companies with the word British in their name tend to have a larger pension deficit. This is usually a hangover from their days as a nationalised entity.

“There’s quite a lot of truth in that anecdote and there is a good reason for it,” he said. “The reality is defined benefit pensions started in the public sector and they will finish there.

“It was the public sector which first created these generous schemes and when a lot of these companies were sold off they were sold with these large pension obligations.”

He said this factor remains even among companies which have since dropped the word British from the name. British Airways, for example, is now part of the International Airlines Group, although the brand still remains.

[fjgooner] 02/12/2017 16:27

Just a note as we enter December that average Q4 Brent prices are now up to $60.33:



Year to date average is $53.99.

Recalling that the recent excellent Q3 Results were achieved an average Brent oil price of $52 per barrel, Q4 must be shaping up really well.

[la forge] 01/12/2017 17:51

Royal Dutch Shell PLC
RDSB:LSE
Actions
Oil & GasOil & Gas Producers

Price (GBX)2,394.00Today's Change5.50 / 0.23%Shares traded4.98m1 Year change9.92%Beta0.7897

[la forge] 01/12/2017 17:00

Displaying update 1 of 1 updates
December 1st 2017
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Oil cuts led by OPEC extended until end-2018

Event

On November 30th OPEC producers and Russia agreed to extend crude production cuts until the end of 2018.

Analysis

As we had expected, OPEC agreed at its ministerial meeting in Vienna to extend its existing production-cut agreement—which targets curbing crude oil output by 1.2m barrels/day (b/d), roughly 5% of total OPEC production at the October 2016 baseline—for a further nine months until the end of 2018. Following this, OPEC countries met partners outside the cartel, led by Russia, who also extended their commitment to cut a collective 558,000 b/d of their own production. However, political will to support the cuts has waned in recent months, as oil prices have staged a partial recovery. The parties added a proviso to review the cuts in June 2018 based on market fundamentals—a nod to participants, primarily Russia, whose commitment appears to have wavered. Libya and Nigeria, which have not participated so far, agreed to cap production at (unspecified) 2017 levels.

The November 30th outcome was widely expected among traders and seems to have been priced in the US$10/barrel price increase over the last three months. Other factors have also influenced the markets in recent weeks, including concerns about Saudi Arabia's graft purge and rising tension between the kingdom and Iran.

Moreover, there has been a recent important shift in the oil market: investment in financial commodities markets has boomed over the last year, and as a result, oil-price movements are increasingly linked to investor sentiment, rather than real supply and demand fundamentals. Sensitive to this, OPEC and its partners have improved their signalling to the market, and oil prices rose slightly to US$63/b on December 1st—after the announcement of the deal extension. However, this uptick is marginal, suggesting that markets are still cautious about the prospects of sustained price increases, given the potential for additional short-term investments by shale producers at the current price level, which would reinforce the global supply glut. US WTI crude continues to be traded at a discount to the international Brent benchmark, suggesting expectations of more US production.

Impact on the forecast

We maintain our forecast that continued restraint by OPEC and Russia will help to keep the price of Brent crude above US$60/b in the first half of 2018. We expect prices to slump in the second half of the year as Chinese demand softens and compliance with the agreement begins to weaken, bringing the full-year average to US$59/b.

[ariane] 01/12/2017 13:28

How Royal Dutch Shell Has Changed in the Last Year
Integrated energy giant Shell has benefited from higher oil prices, but that's just one piece of the bigger change taking place
Reuben Gregg Brewer
(TMFReubenGBrewer)
Dec 1, 2017 at 8:17AM

Royal Dutch Shell plc (NYSE:RDS-B) made an aggressive acquisition in the middle of an energy downturn. That left investors worried that debt was too high at a company that had a history of poor execution. Oil prices have since recovered from their lows, recently stabilizing above the $50 a barrel range. This has helped Shell's top- and bottom-lines, but obscures some of the more important changes taking place at the integrated energy giant. Here's two key facts you need to know about the last year.
Changing gears

Shell's long-term debt ballooned by more than 50% in 2016. Driving this massive uptick in debt was the company's acquisition of BG Group for roughly $50 billion. It was an aggressive move for the company, since energy prices were still relatively weak at that point. While some of the company's peers made opportunistic acquisitions, like ExxonMobil's (NYSE:XOM) $2.5 billion purchase of InterOil, none were on the scale of the BG deal.
A woman pumping gas into her car

Image source: Getty Images

Investors were justifiably concerned, pushing Shell's shares lower and its yield up to around 10% at one point in early 2016. Clearly aware of the debt issue, Shell announced a post acquisition goal of selling $30 billion worth of non-core assets to fund debt reduction efforts. Over the past year or so, long-term debt has fallen roughly 8% since hitting a peak in the third quarter of 2016, so the company is already making notable headway.

It's not done yet, though, and the future looks pretty good from here. That's because Shell has already inked or closed deals worth more than two-thirds of its planned $30 billion target. And with oil prices off their lows, there will be more cash from operations to put toward debt reduction as well. Simply put, Shell appears to have turned the corner on the balance sheet.
Getting better at executing

The other place where a big change has taken place is return on capital employed. Shell has had some high profile misses in recent years, including a disastrous, and now ended, foray into arctic drilling. In fact, it long bumbled along at the low end of the peer group on this metric. Not a great place to be.

RDS.B Return on Capital Employed (TTM) Chart

RDS.B Return on Capital Employed (TTM) data by YCharts

However, the company's return on capital employed has started to pick up again. That's partly because of the industry upturn, but also because of the reset Shell has undertaken since the BG acquisition. It's basically using the planned asset sales to streamline its business around the operations that it believes have the best future. That, along with internal efforts to trim costs and be more efficient, is helping to boost returns.

Shell believes it can more than double its returns over the next year or so, taking them from around 4% in the middle of 2017 to 10%, on average, between 2019 and 2021. More interesting than those numbers is that it believes it can achieve this target with oil prices in the $60 a barrel range. When oil was around $90 a barrel it only managed returns of 8%, so this is a notable change for Shell that, like the debt reduction efforts, is still playing out.

Powered By
Turning higher

The market hasn't been blind to the changes taking shape at Shell. The oil major's stock is up nearly 14% so far this year, more than any other peer (Exxon, for reference, is down around 9%). However, with a yield of around 5.7%, income investors might still find the stock of interest. It's not nearly as cheap as it was, or as some of its peers are today, but it still provides one of the highest yields backed by notable improvement on the debt and execution fronts. In fact, things are so good right now that Shell recently ended its scrip dividend program, which was enacted in 2015 to help preserve cash. If you are a dividend investor, it's definitely worth a closer look as Shell adjusts its business to an evolving energy market.

[sarkasm] 01/12/2017 05:35

Shell Oil reveals gender pay gap of 22%

Shell said the main reasons for the gender pay gap were because fewer women were in senior leadership roles or higher paid technical positions

Stephen Little
Thursday 30 November 2017 17:35 GMT
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The Independent Online
Shell said there was “still some way to go” before closing the pay gap DPA/PA

Oil giant Shell has revealed that women are paid nearly a quarter less than their male colleagues.

The UK’s biggest company said that it pays its female staff on average 22 per cent less than its male employees.

The company said the two main reasons for the gender pay gap were because fewer women were employed in senior leadership roles or higher paid technical positions

Read more

London named as UK region with greatest gender pay gap

Shell said that while it was confident that its staff received equal pay, there was “still some way to go” before closing the pay gap.

Sinead Lynch, chair of Shell UK, said: “Equal Pay ensures men and women are paid equally for work of equal value.

“We know it will take time and we will continue to tackle the root causes of imbalance. This includes sponsoring and engaging in STEM programmes for girls, working to eliminate any unconscious bias in our systems, processes and policies and continuing to foster a culture of inclusion at every level.”

Shell UK said it was making progress addressing gender pay gap. Between 2005 and 2017, the percentage of women employed by the firm in senior management roles in the UK has risen from 12 per cent to 26.8 per cent. At the graduate level, 47% of graduate positions are now held by women.
Business picture of the day

8 show all

Under legislation introduced earlier this year, all UK business with more than 250 or more employees must now publish data on the difference between how much they pay men and women.

According to the Office for National Statistics, the median gender pay gap is currently 9.1 per cent – the lowest since records began.

Last week, the Bank of England said that its male staff were paid 24 per cent more than its female employees, also citing a lack of women in senior positions as the main reason for the divide.

[sarkasm] 01/12/2017 05:32

Shell to develop Australian coal-seam gas fields
By Robb M. Stewart

Published: Nov 30, 2017 11:10 p.m. ET





Time (EST)10:0011:0012:001:002:003:00
US:PTR
US:CEO
-0.5%0.0%0.5%1.0%1.5%

MELBOURNE, Australia--Royal Dutch Shell PLC (RDSA) has moved finally to unleash a massive natural-gas resource buried in coal deposits in eastern Australia in a development that will see fuel flow to its majority owned liquefied natural gas venture on the country's tropical coast.

The energy giant and various partners have agreed to a 27-year sales deal covering 5 trillion cubic feet of gas that will anchor the staged development of the Arrow fields in Queensland.

Shell and PetroChina Co. PTR, +0.94% placed a bet on the coal-seam gas deposits in 2010 with the joint acquisition of a small energy company they intended would supply a proposed LNG plant, but plans remained on the drawing board and were officially dropped at the start of 2015 with the slump in crude-oil price and as costs for rival LNG projects soared. Shell had maintained an LNG-scale outlet for the gas was needed to justify the cost of developing what is one of the largest discovered resources on Australia's east.

"Onshore gas developed in Queensland has none of the oil produced by traditional gas fields and is expensive to develop, so without the scale of LNG development it would simply stay in the ground," Zoe Yujnovich, chairman of Shell's Australian operations, said Friday.

The gas from the Arrow fields will feed the US$20 billion QCLNG operation, one of three big LNG plants that sit side-by-side on Curtis Island that was picked up by Shell in 2015 with its acquisition of BG Group PLC. It will bolster exports from QCLNG, which is part owned by China's CNOOC Ltd. CEO, -0.09% and Tokyo Gas Co. (9531.TO), while also providing Shell and its partners additional supplies for a tight local market.

Qian Mingyang, chief executive of the Arrow venture, said approval by Shell and PetroChina of a binding gas-sales agreement followed 18 months of work arranging collaboration deals for the upstream operations. Development will see Shell and its partners lean on existing infrastructure to reduce costs, including gas-compression, processing and transmission equipment and water-transport and treatment facilities.

Initially, work would focus on expanding Arrow's Tipton field before moving to new development areas in 2021, creating 800 construction and another 200 ongoing jobs, Mr. Qian said. He estimated an additional 240 petajoules a year of gas would be brought to the Queensland market at peak output, adding to current supplies in the state of about 1,450 petajoules.

Australia is set to overtake Qatar as the world's biggest exporter of LNG in the next couple years. However, a ramp-up of LNG shipments from plants around the country has coincided with a jump in demand for natural gas to feed power stations, straining the local market and driving up prices.

Canberra in late September held back from flexing new powers to curb LNG exports after securing agreements from gas producers to put more gas into the domestic market and ensure there wouldn't be shortfalls during periods of peak demand.

Australia is on track to ship 58.1 million metric tons of LNG in the current year through June, and with further projects due for completion over the next year will grow its export capacity to 85 million tons, National Australia Bank forecasts.

"When more gas is developed, everyone wins," Shell's Ms. Yujnovich said. "Australians win again because there is more gas to heat our homes and provide energy to our factories and exporters win because they have more gas to feed their job creating export projects."

Write to Robb M. Stewart at [e-mail]

[the white house] 30/11/2017 20:18

Looking at an average of $60 for 2/3rds of the quarter compared to $52 for previous?For clarification purposes today's tidy £98.5m sale was not mine...

[sarkasm] 30/11/2017 17:46

Shell B
2,388.5 -1.10%

[waldron] 30/11/2017 14:02

OPEC meeting enters fourth hour, no decision yet
Thu 30 Nov 2017 13:55:56 GMT
Author: Adam Button | Category: News

Author: Adam Button

An extension through 2018 is expected

The current agreement puts curbs in place through March. There is talk about an option to review the agreement after three months.

In a sign that we're getting close to a decision, non-OPEC ministers have arrived for talks with OPEC.

[2hoggy] 30/11/2017 12:42

skippys full of bounce this morning..