Yep, very similar. And around this price too. |
Very similar selling pattern to a good few months ago. Same seller that let the share price rise and then decided to dump more? |
Will that 20k seller please Foxtrot Oscar. |
here it goes
Denmark Changes Tune, Allows Russia's Gazprom To Do Work On Damaged NS2 Pipeline |
Last year's reserves report came out in March as I recall, so would expect similar timeline this year ... |
Wasn't sure tbh, KS. Thought with the horizonatals program completed, seemed an apt stage to bring us up to date.
Be out of date by the time next few wells are completed!
:0) |
Was always stated to be 'early 2025'? |
I thought there was talk of reserves report end of 2024?.... seem to recall reading that in one of RR's comms post. |
Agree with that. |
The war ending will effect oil price I think that is a given how much is the question. |
True, India also making hay.
Overall though oil consumption is on the up, US oilers would be in a pickle if WTI fell anywhere near $60. |
Royalalbert
the Russians can then charge more for thier oil if no sanctions, currently they are discounting it. |
MT - read both - hence my cynical posts from my early age
israelis and iranians being best friends and so on |
Pogue, if oil price dropped to much US drillers would be in a lot of bother. Russian oil is still in the market place and world wide consumption in still on the up. Granted the traders would play the game like they always do.
On a seperate note any idea why the ADVFN brent price shown is so different to Trading economics? ADVFN is incorrect as far as I can see. |
exactly - peace in ukraine and in the middle east will hugely impact the prices. including new, price effective logistics. i always remember that HC prices are set not on the main demand supply but on the margin
but main benefactor will be eu. axl is in colombia so price girations will be impacted less |
The biggest change in the oil price this year may well be the ending of the Ukraine war. If Russian sanctions are then dropped, as Trump has been indicating, then the price of oil may take a downturn.
The end of the war currently is reckoned to be the summer. 2 ways it will happen currently, Erdogan is currently saying peace talks starting April/May, he brokered the last agreement that Zelensky turned down after talking to Boris. The other is the collapse of the Ukrainian army which high ranking Ukrainian military officials reckon will be the beginning of summer, which officially is June, as they are badly short of men and cannot replace losses. |
remember mark rich?
todays personas are big trading companies |
 The Russia and Iranian 'dark fleets' currently have a combined oil storage capacity some 3.5 times the crude oil presently in storage at the US Strategic Reserve or 13 days of world consumption.
At first sight it's staggering that China allows so many seriously sub-standard loaded oil tankers into their waters and ports to discharge crude oil cargoes without any INSURANCE cover....until the numbers are crunched.
There are around 7,500 oil tankers in the global fleet, of which over 1,600(21%) has participated in carrying sanctioned oil to China according to Lloyd's List.
For an oil tanker operating between Iran and China the round trip is circa 55 days - at a circa $20k/day charter rate, the owner of a properly maintained and insured tanker would generate around $1.1m of spot market charter revenue - which is equivalent to 0.91% of the value of the oil cargo at a $60/bbl discounted price.
So, if the Chinese are getting at least a $15/bbl discount to Brent for the oil cargo - that's equivalent to a saving of $30m a cargo. If the Chinese gave the 'dark fleet' operators $2.5m to ship the cargo ($55k/day spot market charter rate), they would still save $27.5m on every Iranian sourced oil cargo.
With the potential to earn 2.6 times the spot market daily charter rate of a 5 year old oil tanker for an aging, sub-standard, uninsured coffin dodger, its easy to understand why more than one in every 5 oil tankers in the global fleet has been used at some time to carry Iranian and Russian cargoes.
China imports around 13m bbls/day of crude oil - equivalent to 2,372 oil tanker cargoes a year. At a $27.5m saving per cargo on average that would have the potential to generate cost savings up to $65.25 billion per year, even after giving the dark fleet operators nearly triple the ship charter rate that a 5 year old well maintained and operated oil tanker would command.
A win-win-win situation where the Iranians(Russians & Venezuelans), Chinese and 'Dark Fleet' operators laugh all the way to their offshore banks. |
strange that the russians do not establish their own tax and regulation off shore entities. they will one day. just funny why it takes so long.
china did |
Bravery and stupidity can be closely linked. Looks like the very serious scare is over, I hope to be rewarded for buying the last 2 trading days. |
The deportation flights are already offloading illegals back to Colombia:-
Colombian tariff and sanctions risk on oil drops close to zero IMO, Trump is already going after Iranian and Venezuelan oil, there is only so many oil sources he can cut off before he shoots himself in the foot and sends prices too high. |
Bought a few more this afternoon. Great value. RNS soon I hope! |
Anyone been watching Landman on (think it is Netflix )Love it , learned a bit about the oil industry too |
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