Centrica Share Discussion Threads

[antonagis] 02/3/2021 22:31

So sorry you guys have to endure the not so CLEVERINVESTER. Well I need to share the fact that there was a real turn up for the books. The far from CLEVERINVESTER finally CONFESSED yesterday that he is a TROLL on SAGA, such is his anger at not getting his £1.80 prediction. He also makes it clear with his sidekick DIOHOHKU that they’d like COVID to continue, disgusting TROLLS that they are. How can they enjoy people being sick and gloat every time there’s a new variant. The great thing is that they are starting to get their comeuppance. CLEARLY RATTLED since last week. That’s around 60 posts between them on SAGA today. Yet more proof of that desperation they’re suffering from.

[waldron] 02/3/2021 21:58

OPEC+ Is Poised to Cool Down Oil Market With Extra Production Javier Blas, Grant Smith and Salma El Wardany, Bloomberg News AddThis Sharing Buttons Share to Facebook Share to TwitterShare to LinkedInShare to EmailShare to Plus d'options... Oil pumping jacks, also known as "nodding donkeys", operate in an oilfield near Almetyevsk, Tatarstan, Russia. Oil pumping jacks, also known as "nodding donkeys", operate in an oilfield near Almetyevsk, Tatarstan, Russia. , Bloomberg (Bloomberg) -- OPEC+ is poised to agree a production increase this week as it seeks to cool a rapid rally in crude prices. There’s a widespread view within the group that the market can absorb additional barrels, according to people familiar with the deliberations. While the usual differences are present -- with Saudi Arabia cautious and Russia keen to open the taps -- all sides are ready to increase production, they said, asking not to be named because the information was private. That could put the group on track to implement the majority of the 1.5 million barrel-a-day output increase that’s up for debate on Thursday. An agreement to hike OPEC+ supply would be the latest sign that the global economy is recovering from the damage wrought by the coronavirus pandemic. The cartel has endured a year of pain, dominated by the deepest output cuts in its history. But the sacrifice has paid off, reviving oil prices back to pre-crisis levels above $60 a barrel. “Both the global economic outlook and oil market prospects show signs of continued improvement,” OPEC Secretary-General Mohammad Barkindo said at the opening of a meeting of the group’s technical experts on Tuesday. “The headwinds of uncertainty that shocked and disrupted the market last year continue to abate.” There are two distinct elements to the production increase that the Organization of Petroleum Exporting Countries and it allies will debate this week. First, will the cartel proceed with a 500,000 barrel-a-day collective output hike in April? Second, how will Saudi Arabia phase out the extra supply reduction of 1 million barrels a day it’s been making voluntarily in February and March? Robust Demand Russia has been the most consistent advocate for the 500,000 barrel-a-day increase, and other members now largely agree that it should go ahead, according to people familiar with the matter. The top oil executive from the United Arab Emirates, which has also supported output hikes at recent OPEC+ meetings, gave a bullish assessment of the market on Tuesday. “Oil demand is robust,” Sultan Al Jaber, the chief executive officer of Abu Dhabi National Oil Co., said at the IHS Markit Ltd. CERAWeek virtual conference. “Demand will rise to above pre-Covid levels by the end of this year.” Adnoc has already signaled it’s preparing to open the taps, allocating customers greater volumes of Murban, Das and Upper Zakum crudes for April compared with March. Saudi Choice Saudi Arabia always said that its voluntary supply reduction would only last for two months, but seasoned OPEC-watchers have suggested that Riyadh could phase it out gradually. The kingdom will start to roll back its extra cut as planned in April, but is still discussing internally whether to return all of the barrels in a single month, or over a longer period, said people familiar with the deliberations. The decision will take into account the commissioning of the new 400,000 barrel-a-day Jizan refinery, which could affect both domestic crude consumption and exports, they said. At CERAWeek, Saudi Aramco CEO Amin Nasser struck a more cautious tone than his counterpart from the UAE, predicting strong demand in the second half of 2021, and a return to pre-Covid consumption next year. Whatever the Saudis decide, the global oil market is poised to receive its biggest supply boost since August, when OPEC+ first began the process of tapering the 9.7 million barrel-a-day cut agreed in April last year as the pandemic crushed demand. The group appears to think the market is ready for it. Even if OPEC+ boosts production by 2.4 million barrels a day between February and June -- the maximum amount allowed under the current deal -- it will still be able to clear the remnants of the 2020 supply glut by August, the secretariat’s analysts predicted on Tuesday.

[waldron] 02/3/2021 21:57

OPEC+ Is Poised to Cool Down Oil Market With Extra Production Javier Blas, Grant Smith and Salma El Wardany, Bloomberg News AddThis Sharing Buttons Share to Facebook Share to TwitterShare to LinkedInShare to EmailShare to Plus d'options... Oil pumping jacks, also known as "nodding donkeys", operate in an oilfield near Almetyevsk, Tatarstan, Russia. Oil pumping jacks, also known as "nodding donkeys", operate in an oilfield near Almetyevsk, Tatarstan, Russia. , Bloomberg (Bloomberg) -- OPEC+ is poised to agree a production increase this week as it seeks to cool a rapid rally in crude prices. There’s a widespread view within the group that the market can absorb additional barrels, according to people familiar with the deliberations. While the usual differences are present -- with Saudi Arabia cautious and Russia keen to open the taps -- all sides are ready to increase production, they said, asking not to be named because the information was private. That could put the group on track to implement the majority of the 1.5 million barrel-a-day output increase that’s up for debate on Thursday. An agreement to hike OPEC+ supply would be the latest sign that the global economy is recovering from the damage wrought by the coronavirus pandemic. The cartel has endured a year of pain, dominated by the deepest output cuts in its history. But the sacrifice has paid off, reviving oil prices back to pre-crisis levels above $60 a barrel. “Both the global economic outlook and oil market prospects show signs of continued improvement,” OPEC Secretary-General Mohammad Barkindo said at the opening of a meeting of the group’s technical experts on Tuesday. “The headwinds of uncertainty that shocked and disrupted the market last year continue to abate.” There are two distinct elements to the production increase that the Organization of Petroleum Exporting Countries and it allies will debate this week. First, will the cartel proceed with a 500,000 barrel-a-day collective output hike in April? Second, how will Saudi Arabia phase out the extra supply reduction of 1 million barrels a day it’s been making voluntarily in February and March? Robust Demand Russia has been the most consistent advocate for the 500,000 barrel-a-day increase, and other members now largely agree that it should go ahead, according to people familiar with the matter. The top oil executive from the United Arab Emirates, which has also supported output hikes at recent OPEC+ meetings, gave a bullish assessment of the market on Tuesday. “Oil demand is robust,” Sultan Al Jaber, the chief executive officer of Abu Dhabi National Oil Co., said at the IHS Markit Ltd. CERAWeek virtual conference. “Demand will rise to above pre-Covid levels by the end of this year.” Adnoc has already signaled it’s preparing to open the taps, allocating customers greater volumes of Murban, Das and Upper Zakum crudes for April compared with March. Saudi Choice Saudi Arabia always said that its voluntary supply reduction would only last for two months, but seasoned OPEC-watchers have suggested that Riyadh could phase it out gradually. The kingdom will start to roll back its extra cut as planned in April, but is still discussing internally whether to return all of the barrels in a single month, or over a longer period, said people familiar with the deliberations. The decision will take into account the commissioning of the new 400,000 barrel-a-day Jizan refinery, which could affect both domestic crude consumption and exports, they said. At CERAWeek, Saudi Aramco CEO Amin Nasser struck a more cautious tone than his counterpart from the UAE, predicting strong demand in the second half of 2021, and a return to pre-Covid consumption next year. Whatever the Saudis decide, the global oil market is poised to receive its biggest supply boost since August, when OPEC+ first began the process of tapering the 9.7 million barrel-a-day cut agreed in April last year as the pandemic crushed demand. The group appears to think the market is ready for it. Even if OPEC+ boosts production by 2.4 million barrels a day between February and June -- the maximum amount allowed under the current deal -- it will still be able to clear the remnants of the 2020 supply glut by August, the secretariat’s analysts predicted on Tuesday.

[norma_stitts] 02/3/2021 21:47

FOR THE ADULTS WHO WISH TO DISCUSS CENTRICA, PLEASE JOIN YOUR FELLOW BONAFIDE INVESTORS/STAKEHOLDERS ON THE FOLLOWING LINK; https://uk.advfn.com/cmn/fbb/thread.php3?id=47643353&bb_alert=1 Please ONLY reply on the link above, NOT on this thread. Thanks for your assistance in helping to rid the Centrica discussion boards of the plague it is being infected by.

[cleverinvester] 02/3/2021 12:13

Ammu12 : Norma's friends

[ammu12] 02/3/2021 11:51

I see engineers liking each other's post....no change

[ohoh] 02/3/2021 10:26

hope so, otherwise, the bottom will drop out of this altogether.

[la forge] 02/3/2021 09:11

LBC One million energy customers to get refunds after 18 firms broke switching rules 2 March 2021, 08:04 Ofgem said suppliers including British Gas, npower and EDF overcharged customers £7.2 million over seven years after breaking switching price rules. More than a million households are to be refunded £10.4 million after the energy watchdog found 18 gas and electricity suppliers overcharged customers when they switched to better deals. Ofgem said suppliers including the Big Six firms such as British Gas, npower and EDF overcharged customers £7.2 million over seven years after failing to follow price protection rules. The rules are designed to safeguard a customer’s tariff price when they decide to either switch suppliers or deals after a price increase. It said several suppliers self-reported the issue to the regulator, which then prompted it to ask all firms to assess their practices, revealing failures among 18 suppliers between 2013 and 2020. The firms have agreed to refund all those affected and, in some cases, make additional good will payments to the tune of £10.4 million in total, Ofgem said. Anna Rossington, interim director of retail at Ofgem, said: “Customers should have confidence in switching and not be overcharged when doing so. “This case sends a strong message to all suppliers that Ofgem will intervene where customers are overcharged and ensure that no supplier benefits from non-compliance.̶1; Customers affected include those on standard variable and fixed term deals who switched to different suppliers, as well as those on fixed term deals who switched to another deal with the same supplier. The regulator said most of the failures were due to suppliers not having proper plans in place to make sure the protections were applied in full when customers decided to switch. Ofgem said it was not taking formal action against the suppliers, given their co-operation and agreement to compensate. But it warned firms could face formal action if they do not follow the price protection switching rules going forward. Ovo Energy is among those paying the biggest compensation bills, with £2.8 million due in redress, followed by Scottish Power with a £2 million bill, while British Gas is paying out £1.3 million and Shell is forking out £1.2 million. By Press Association

[la forge] 02/3/2021 09:05

LBC One million energy customers to get refunds after 18 firms broke switching rules 2 March 2021, 08:04 Ofgem said suppliers including British Gas, npower and EDF overcharged customers £7.2 million over seven years after breaking switching price rules. More than a million households are to be refunded £10.4 million after the energy watchdog found 18 gas and electricity suppliers overcharged customers when they switched to better deals. Ofgem said suppliers including the Big Six firms such as British Gas, npower and EDF overcharged customers £7.2 million over seven years after failing to follow price protection rules. The rules are designed to safeguard a customer’s tariff price when they decide to either switch suppliers or deals after a price increase. It said several suppliers self-reported the issue to the regulator, which then prompted it to ask all firms to assess their practices, revealing failures among 18 suppliers between 2013 and 2020. The firms have agreed to refund all those affected and, in some cases, make additional good will payments to the tune of £10.4 million in total, Ofgem said. Anna Rossington, interim director of retail at Ofgem, said: “Customers should have confidence in switching and not be overcharged when doing so. “This case sends a strong message to all suppliers that Ofgem will intervene where customers are overcharged and ensure that no supplier benefits from non-compliance.̶1; Customers affected include those on standard variable and fixed term deals who switched to different suppliers, as well as those on fixed term deals who switched to another deal with the same supplier. The regulator said most of the failures were due to suppliers not having proper plans in place to make sure the protections were applied in full when customers decided to switch. Ofgem said it was not taking formal action against the suppliers, given their co-operation and agreement to compensate. But it warned firms could face formal action if they do not follow the price protection switching rules going forward. Ovo Energy is among those paying the biggest compensation bills, with £2.8 million due in redress, followed by Scottish Power with a £2 million bill, while British Gas is paying out £1.3 million and Shell is forking out £1.2 million. By Press Association

[hamhamham1] 02/3/2021 08:22

Any dips will be bought.

[waldron] 02/3/2021 06:57

European markets head for lower open, in retreat mode after Monday's rally Published Tue, Mar 2 20211:05 AM EST Holly Ellyatt @HollyEllyatt Key Points European stocks are expected to open in negative territory on Tuesday, retreating from gains made in the previous trading session. London's FTSE is seen opening 21 points lower at 6,558, Germany's DAX down 55 points at 13,943, France's CAC 40 down 16 points at 5,777 and Italy's FTSE MIB 81 points lower at 23,170, according to IG.

[waldron] 02/3/2021 06:57

European markets head for lower open, in retreat mode after Monday's rally Published Tue, Mar 2 20211:05 AM EST Holly Ellyatt @HollyEllyatt Key Points European stocks are expected to open in negative territory on Tuesday, retreating from gains made in the previous trading session. London's FTSE is seen opening 21 points lower at 6,558, Germany's DAX down 55 points at 13,943, France's CAC 40 down 16 points at 5,777 and Italy's FTSE MIB 81 points lower at 23,170, according to IG.

[waldron] 01/3/2021 17:28

A GOOD START TO THE WEEK AND MONTH CENTRICA PLC (CNA) Real-time Estimate Quote. Real-time Estimate CHI-X - 03/01 04:30:00 pm 53.8 GBX +1.97%

[waldron] 01/3/2021 17:27

A GOOD START TO THE WEEK AND MONTH CENTRICA PLC (CNA) Real-time Estimate Quote. Real-time Estimate CHI-X - 03/01 04:30:00 pm 53.8 GBX +1.97%

[sentimental rules] 01/3/2021 14:54

doesnt everyone find it hilarious that the clown calls himself 'cleverinvester', yet isnt clever enough to know how to spell it you couldn't make it up what a complete and utter retard

[cleverinvester] 01/3/2021 14:28

Norma's group is full of engineers

[silverstone2] 01/3/2021 11:37

Centrica in Talks With U.K. to Develop Hydrogen Storage Rachel Morison, Bloomberg News AddThis Sharing Buttons Share to Facebook Share to TwitterShare to LinkedInShare to EmailShare to Plus d'options... (Bloomberg) -- Centrica Plc is in talks with the U.K. government about plans to convert its disused Rough natural gas storage site off the coast of northeast England to store hydrogen. The conversion requires about 650 million pounds ($908 million) of investment and would create several thousand jobs during construction, Chris O’Shea chief executive officer said in an interview. Rough closed in 2017 after operating for over three decades. It had been plagued by technical problems and became too expensive to repair without government funding. Now O’Shea sees the possibility of a second life for the facility but it would still need help from state coffers. “We’ve been working with government and others to see if we could convert Rough to store hydrogen for the U.K.,” O’Shea said. “We need a regulated model probably for that. It probably doesn’t work with a merchant model.” Energy minister Kwasi Kwarteng visited the Rough gas field in August last year, O’Shea said. The government “looking at how hydrogen technology can help us meet targets to eradicate our contribution to climate change by 2050,” the department for business energy and industrial strategy said in by email. The site could be linked with the planned zero carbon industrial cluster in the northeast of England. The project is a hub of energy producers, industry, infrastructure and engineering expertise powered by electricity that will develop and use carbon capture and storage technology and hydrogen. Centrica is a partner in the initiative along with Equinor AS, Drax Plc and Uniper SE. The Humber cluster will need a ready supply of hydrogen and if it’s only produced in one place, there could be security of supply issues, O’Shea said. While Rough was once a jewel in Centrica’s crown, its efficiency had declined with age and usage. Rough was turned from a depleted gas reservoir into a storage site in 1985. Its main function was to keep prices from jumping during the winter if demand rose beyond what the fields could produce. The facility lost its strategic importance with and influx of liquefied natural gas imports from the U.S. and Australia. Centrica’s decline is more wide-reaching than just Rough. The company has struggled in recent years with dwindling profits and customers switching away from its energy supply business. O’Shea is trying to turn the company around with a new focus and a promise to simplify the business made back in June. The utility shed 5,000 jobs and announced the sale of its U.S. business for $3.6 billion. The remaining gas at the Rough field will continue to be processed until early 2023 so conversion couldn’t happen before then. Adjustments would need to be made to the facility to ensure its safe to store hydrogen. Hydrogen is much lighter than methane gas and the molecules much smaller so it escapes more easily. “Hydrogen is not the only answer and I think we’re going to have a mix of energies,” O’Shea said. “I think gas will be part of the energy mix for the next 20 to 30 years but with cleaner gas, and having hydrogen means that can happen.”