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Share Name Share Symbol Market Type Share ISIN Share Description
Centrica Plc LSE:CNA London Ordinary Share GB00B033F229 ORD 6 14/81P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.12 0.21% 58.50 58.56 58.60 58.68 57.80 58.30 12,274,289 16:35:12
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Gas Water & Utilities 12,249.0 -577.0 41.0 1.4 3,418

Centrica Share Discussion Threads

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DateSubjectAuthorDiscuss
06/7/2021
12:26
Oil prices rise to six-year highs after OPEC+ talks yield no production deal Published Mon, Jul 5 20216:52 PM EDTUpdated 4 Min Ago Pippa Stevens @PippaStevens13 Oil jumped to its highest level in six years after talks between OPEC and its oil-producing allies were postponed indefinitely, with the group failing to reach an agreement on production policy for August and beyond. On Tuesday, U.S. oil benchmark West Texas Intermediate crude futures advanced 1.6%, or $1.22, to $76.38 per barrel. At one point, WTI crude hit as high as $76.98, which was the highest price since November 2014. International benchmark Brent crude rose 0.2%, or 16 cents, to $77.32 per barrel — the highest since late 2018. Discussions began last week between OPEC and its allies, known as OPEC+, as the energy alliance sought to establish output policy for the remainder of the year. The group on Friday voted on a proposal that would have returned 400,000 barrels per day to the market each month from August through December, resulting in an additional 2 million barrels per day by the end of the year. Members also proposed extending the output cuts through the end of 2022. The United Arab Emirates rejected these proposals, however, and talks stretched from Thursday to Friday as the group tried to reach a consensus. Initially, discussions were set to resume on Monday but were ultimately called off. “The date of the next meeting will be decided in due course,” OPEC Secretary General Mohammad Barkindo said in a statement. OPEC+ took historic measures in April 2020 and removed nearly 10 million barrels per day of production in an effort to support prices as demand for petroleum-products plummeted. Since then, the group has been slowly returning barrels to the market, while meeting on a near monthly basis to discuss output policy. “For us, it wasn’t a good deal,” UAE Minister of Energy and Infrastructure Suhail Al Mazrouei told CNBC on Sunday. He added that the country would support a short-term increase in supply, but wants better terms if the policy is to be extended through 2022. Oil’s blistering rally this year — WTI has gained 57% during 2021 — meant that ahead of last week’s meeting many Wall Street analysts expected the group to boost production in an effort to curb the spike in prices. “With no increase in production, the forthcoming growth in demand should see global energy markets tighten up at an even faster pace than anticipated,” analysts at TD Securities wrote in a note to clients. “This impasse will lead to a temporary and significantly larger-than-anticipated deficit, which should fuel even higher prices for the time being. The summer breakout in oil prices is set to gather steam at a fast clip,” the firm added. — CNBC’s Sam Meredith contributed reporting.
la forge
06/7/2021
08:38
Brent Daily Chart link added to the header.
skinny
05/7/2021
17:28
PROACTIVE INVESTORS Philip Whiterow 13:15 Mon 05 Jul 2021 HydrogenOne Capital to list as Centrica mulls Rough upgrade HydrogenOne is looking to raise £250mln to invest in green and blue hydrogen projects. Britain’s hydrogen infrastructure is set for a boost after two major investment plans were unveiled today. British Gas owner Centrica (LON:CNA) is planning a £1.6bn overhaul of its Rough gas storage site in the North Sea to switch it to hydrogen instead of methane. Rough is 18 miles off the coast of Yorkshire and the upgrade might create 3-4,000 jobs during construction, Centrica said. The plant can be running by as early as 2025-2026, Centrica said, if there is more clarity on the UK policy towards hydrogen. Meanwhile, a hydrogen project investment firm backed by one of the UK’s richest men announced plans to list on the London stock market. Jim Ratcliffe's Ineos is one of HydrogenOne Capital Growth PLC's (LON:HGEN) cornerstone investors and will subscribe for a minimum of 25mln shares at the issue price. The firm is looking to raise £250mln to invest in green and blue hydrogen projects. INEOS claims to be Europe's largest hydrogen producer, with an annual output of around 400,000 tonnes in addition to an electrolyser subsidiary. “The INEOS investment in HydrogenOne will help to accelerate and diversify INEOS’ existing clean hydrogen strategy. It marks the beginning of another substantial and long-term partnership, opening new windows into the clean hydrogen world for INEOS,” it said in a statement. Hydrogen One, which will be London’s first listed investment fund dedicated to clean hydrogen, says it has identified 36 assets to form the basis of its portfolio but reckons the market overall is worth US$90bn. Simon Hogan, the chairman, said: “HydrogenOne is the first of a kind. The offering here is for distinctive and specialist access to the growth potential in clean hydrogen energy, that is simply not available elsewhere. “We welcome INEOS' investment in the company and we are looking forward to expanding our collaboration."
adrian j boris
05/7/2021
17:26
PROACTIVE INVESTORS Philip Whiterow 13:15 Mon 05 Jul 2021 HydrogenOne Capital to list as Centrica mulls Rough upgrade HydrogenOne is looking to raise £250mln to invest in green and blue hydrogen projects. Britain’s hydrogen infrastructure is set for a boost after two major investment plans were unveiled today. British Gas owner Centrica (LON:CNA) is planning a £1.6bn overhaul of its Rough gas storage site in the North Sea to switch it to hydrogen instead of methane. Rough is 18 miles off the coast of Yorkshire and the upgrade might create 3-4,000 jobs during construction, Centrica said. The plant can be running by as early as 2025-2026, Centrica said, if there is more clarity on the UK policy towards hydrogen. Meanwhile, a hydrogen project investment firm backed by one of the UK’s richest men announced plans to list on the London stock market. Jim Ratcliffe's Ineos is one of HydrogenOne Capital Growth PLC's (LON:HGEN) cornerstone investors and will subscribe for a minimum of 25mln shares at the issue price. The firm is looking to raise £250mln to invest in green and blue hydrogen projects. INEOS claims to be Europe's largest hydrogen producer, with an annual output of around 400,000 tonnes in addition to an electrolyser subsidiary. “The INEOS investment in HydrogenOne will help to accelerate and diversify INEOS’ existing clean hydrogen strategy. It marks the beginning of another substantial and long-term partnership, opening new windows into the clean hydrogen world for INEOS,” it said in a statement. Hydrogen One, which will be London’s first listed investment fund dedicated to clean hydrogen, says it has identified 36 assets to form the basis of its portfolio but reckons the market overall is worth US$90bn. Simon Hogan, the chairman, said: “HydrogenOne is the first of a kind. The offering here is for distinctive and specialist access to the growth potential in clean hydrogen energy, that is simply not available elsewhere. “We welcome INEOS' investment in the company and we are looking forward to expanding our collaboration."
adrian j boris
05/7/2021
15:40
No divi yet but more capital spending. What shall I say...
action
05/7/2021
12:49
British Gas still is by far the No 1 by customer numbers - by several million - and a well known brand. Spirit Energy margins must be very good at $76 Brent. Takeover must be possible here and may have even been approached by private equity with market cap just £3Bn now. Assets are extensive.
justiceforthemany
05/7/2021
12:28
Utilities giant Centrica is preparing to press the button on a £1.6bn overhaul of its Rough gas storage site in the North Sea so it can store hydrogen instead of methane. The FTSE 250 owner of British Gas says repurposing the site roughly 18 miles off the coast of Yorkshire could create 3-4,000 jobs during construction and help develop the market for hydrogen to help meet climate goals. Greg McKenna, managing director of Centrica Business Solutions, said the company is waiting for clarity on the Government’s strategy around hydrogen and what subsidy guarantees will be given to help the hydrogen industry scale up, before knowing whether to progress. He said: “If we could get a decision this year, I think we could be up and running by 2025/26. “You’re talking about a £1.6bn investment which will create thousands of jobs and help roles in the oil and gas industry move into the green economy.” Hydrogen does not produce carbon emissions when burned so it is expected to be used more widely as the UK overhauls its energy system to try and meet its legally binding target of cutting carbon emissions to net zero by 2050. However, the extent of its role is unclear as hydrogen is expensive and difficult to produce as well as being inefficient. There is particular debate over how widely it should be used to heat people’s homes instead of electric heat pumps. It is likely to have a larger role in industry and heavy duty vehicles. Centrica decided to close Rough, the UK’s largest gas storage site, in 2017 due to problems with its ageing infrastructure, although it has continued to produce what is left in the field. Chief executive Chris O’Shea is trying to reshape the company following a 70pc slide in Centrica’s share price under his predecessor Iain Conn.
hifc231
05/7/2021
11:49
This must be one of only a few shares NOT to have recovered at or close to January 2020 price (i.e 90-95P), Begining to join the negatives and think this company will never recover/get taken over or get broken up in a few years.... defo not in favour.
hifc231
05/7/2021
10:15
Centrica ready to put £1.6bn into hydrogen storage site.
skinny
05/7/2021
08:09
Brent Daily Chart.
skinny
05/7/2021
07:53
European markets head for cautious open; oil price watched ahead of OPEC+ talks Published Mon, Jul 5 20211:06 AM EDT Holly Ellyatt @HollyEllyatt Key Points European stocks are expected to open slightly higher on Monday as markets keep an eye on oil prices ahead of a crunch meeting of the OPEC+ oil producing alliance. London’s FTSE is seen opening 13 points higher at 7,131, Germany’s DAX 8 points higher at 15,646, France’s CAC 40 up 3 points at 6,551, according to IG.
waldron
05/7/2021
07:50
European markets head for cautious open; oil price watched ahead of OPEC+ talks Published Mon, Jul 5 20211:06 AM EDT Holly Ellyatt @HollyEllyatt Key Points European stocks are expected to open slightly higher on Monday as markets keep an eye on oil prices ahead of a crunch meeting of the OPEC+ oil producing alliance. London’s FTSE is seen opening 13 points higher at 7,131, Germany’s DAX 8 points higher at 15,646, France’s CAC 40 up 3 points at 6,551, according to IG.
waldron
04/7/2021
23:29
Centrica ready to put £1.6bn into hydrogen storage site The site, roughly 18 miles off the coast of Yorkshire, could create 3-4,000 jobs during construction Telegraph
justiceforthemany
04/7/2021
18:04
WORLDOIL.COM OPEC’s latest standoff puts the oil cartel’s survival at risk By Javier Blas on 7/4/2021 LONDON (Bloomberg) --A high-stakes game of oil diplomacy pits Saudi Arabia against long-time ally Abu Dhabi. And the result of their fight will shape not just the price of oil for the next year, but the future of the global energy industry. The United Arab Emirates on Friday blocked an OPEC+ deal that cartel leaders Russia and Saudi Arabia hashed out to increase output, demanding better terms for itself. After two days of bitter negotiations, and with the UAE the only holdout, ministers halted the discussions until Monday, leaving markets in limbo as oil continued its inflationary surge above $75 a barrel. Despite diplomatic talks continuing, the standoff appeared to continue on Sunday, with the UAE reiterating its demands. Abu Dhabi is forcing its allies into a difficult position: accept its requests, or risk unraveling the OPEC+ alliance. Failure to reach a deal would squeeze an already tight market, potentially sending crude prices sharply higher. But a more dramatic scenario is also in play -- OPEC+ unity may break down entirely, risking a free-for-all that would crash prices in a repeat of the crisis last year. As in all negotiations, there may be an element of bluff. Late last year, Abu Dhabi even floated the idea of leaving OPEC. While this time the UAE hasn’t repeated the threat, no one even at the heart of the talks is sure what could happen if negotiations fail on Monday. An exit would almost certainly trigger a price war -- and in that scenario everyone loses. The bluff is to show your country is ready to take the pain better than the others. But there’s also a more subtle poker game playing out, and in that hand, the UAE has some cards. The country wants to pump more oil after spending billions to increase production capacity. At some point, the others in the alliance will probably have to recognize Abu Dhabi’s new status, redrawing the terms of engagement to allow it to pump more. “The UAE will push hard at this juncture to use this meeting to get their excess capacity recognized and brought back online,” said Roger Diwan, oil analyst at consultant IHS Markit Ltd. “Compromise exists, but it is just how they bring their capacity, not if.” OPEC Math At the center of the dispute is a word key to OPEC+ output agreements: baselines. Each country measures its production cuts or increases against a baseline. The higher that number, the more a country will be allowed to pump. The UAE says its current level, set at about 3.2 million barrels a day in April 2020, is too low, and says it should be 3.8 million. “This was an inevitable fight,” said Ben Cahill, a senior fellow at the Center for Strategic and International Studies in Washington. “The differences are real and the UAE will continue to make noise until it achieves a higher baseline.” The current OPEC+ production deal ends in April 2022, when every country will be able to re-negotiate its baseline. But now Saudi Arabia and Russia, with the support of everyone else at OPEC+, want to extend the agreement to the end of next year. The UAE has rejected the idea of extending the broader accord unless its baseline is changed, effectively killing the proposal negotiated by Moscow and Riyadh. There was no sign of progress as of Sunday morning in Abu Dhabi, with the UAE still refusing to agree to an extension on current terms. “The UAE is for an unconditional increase of production,” but a decision to extend the deal until the end of 2022 is “unnecessary to take now,” Energy Minister Suhail Al-Mazrouei said in an interview with Bloomberg Television. “We still have eight to nine months in this agreement, and we’re talking about plenty of time for this to be discussed at a later stage.” In April 2020, Abu Dhabi accepted its current baseline, but it doesn’t want the straitjacket to stay on for even longer. Abu Dhabi has spent heavily to expand production capacity, attracting foreign companies including French oil giant TotalEnergies SE. With Iran potentially returning to the oil market soon if it reaches a nuclear deal, patience for getting new terms is wearing out. Claiming a higher baseline is different to having one. Often countries make outlandish declarations of how much oil they can produce -- just to get a better deal. Few take those assertions seriously. But last year the UAE proved it had the extra barrels. During the price war, it pumped a record of 3.84 million barrels a day, according to OPEC estimates. Abu Dhabi says it produced more than 4 million. Before then, it had never produced more than 3.2 million and few believed it was able to produce much more. Now it can prove it has the barrels, that strengthens its hand in the negotiation. The Emirate proposal would even benefit Saudi Arabia, which could also secure for itself a higher baseline. But Riyadh has rejected it. The biggest loser would be Russia, which would see a much lower output target. And Saudi Arabia needs Russia onside. Aside from cartel arithmetic, geopolitical tensions are also in play. The country’s de facto ruler, Crown Prince Mohammed bin Zayed, once enjoyed close relations with the Saudi Crown Prince, Mohammed bin Salman. But the relationship between the two heirs appears to have cooled in recent months. And Abu Dhabi is flexing its muscles beyond the oil market, with bold geopolitical moves from Yemen to Israel. In another sign of tension as the OPEC standoff intensified on Friday night, Saudi Arabia moved to restrict citizens’ travel to the UAE, citing the pandemic. Bad Timing OPEC has been here before. There’s often friction in member countries between the oil ministry, which deals with the cartel and commits to quotas, and the national oil companies, whose priority often is to expand production capacity. In this case, Sultan Al Jaber, the head of the Abu Dhabi National Oil Co., led the charge to increase capacity. In the 1990s, it was Petroleos de Venezuela SA, the state-owned company of the Latin America country, which pushed ahead with an aggressive capacity expansion. With oil demand growing slowly in the 1990s, Caracas and Riyadh clashed, and the fight ultimately triggered a price war in 1998 that saw Brent crude plunge below $10 a barrel. In the 2000s, Algerian national energy giant Sonatrach SpA did the same, but benefited from better timing: booming Chinese oil demand allowed it to lift production 60% from 1996 to 2006 with the tacit consent of OPEC. Adnoc’s push was hindered by two factors: U.S. shale production and the coronavirus pandemic, both of which dented demand for OPEC barrels over the last five years. Al Jaber misread the market, or was unlucky with the timing. Who wins the standoff this time may depend on luck, a bit of bluffing, and who fears he has the most to lose from OPEC unraveling.
gibbs1
04/7/2021
17:59
WORLDOIL.COM OPEC’s latest standoff puts the oil cartel’s survival at risk By Javier Blas on 7/4/2021 LONDON (Bloomberg) --A high-stakes game of oil diplomacy pits Saudi Arabia against long-time ally Abu Dhabi. And the result of their fight will shape not just the price of oil for the next year, but the future of the global energy industry. The United Arab Emirates on Friday blocked an OPEC+ deal that cartel leaders Russia and Saudi Arabia hashed out to increase output, demanding better terms for itself. After two days of bitter negotiations, and with the UAE the only holdout, ministers halted the discussions until Monday, leaving markets in limbo as oil continued its inflationary surge above $75 a barrel. Despite diplomatic talks continuing, the standoff appeared to continue on Sunday, with the UAE reiterating its demands. Abu Dhabi is forcing its allies into a difficult position: accept its requests, or risk unraveling the OPEC+ alliance. Failure to reach a deal would squeeze an already tight market, potentially sending crude prices sharply higher. But a more dramatic scenario is also in play -- OPEC+ unity may break down entirely, risking a free-for-all that would crash prices in a repeat of the crisis last year. As in all negotiations, there may be an element of bluff. Late last year, Abu Dhabi even floated the idea of leaving OPEC. While this time the UAE hasn’t repeated the threat, no one even at the heart of the talks is sure what could happen if negotiations fail on Monday. An exit would almost certainly trigger a price war -- and in that scenario everyone loses. The bluff is to show your country is ready to take the pain better than the others. But there’s also a more subtle poker game playing out, and in that hand, the UAE has some cards. The country wants to pump more oil after spending billions to increase production capacity. At some point, the others in the alliance will probably have to recognize Abu Dhabi’s new status, redrawing the terms of engagement to allow it to pump more. “The UAE will push hard at this juncture to use this meeting to get their excess capacity recognized and brought back online,” said Roger Diwan, oil analyst at consultant IHS Markit Ltd. “Compromise exists, but it is just how they bring their capacity, not if.” OPEC Math At the center of the dispute is a word key to OPEC+ output agreements: baselines. Each country measures its production cuts or increases against a baseline. The higher that number, the more a country will be allowed to pump. The UAE says its current level, set at about 3.2 million barrels a day in April 2020, is too low, and says it should be 3.8 million. “This was an inevitable fight,” said Ben Cahill, a senior fellow at the Center for Strategic and International Studies in Washington. “The differences are real and the UAE will continue to make noise until it achieves a higher baseline.” The current OPEC+ production deal ends in April 2022, when every country will be able to re-negotiate its baseline. But now Saudi Arabia and Russia, with the support of everyone else at OPEC+, want to extend the agreement to the end of next year. The UAE has rejected the idea of extending the broader accord unless its baseline is changed, effectively killing the proposal negotiated by Moscow and Riyadh. There was no sign of progress as of Sunday morning in Abu Dhabi, with the UAE still refusing to agree to an extension on current terms. “The UAE is for an unconditional increase of production,” but a decision to extend the deal until the end of 2022 is “unnecessary to take now,” Energy Minister Suhail Al-Mazrouei said in an interview with Bloomberg Television. “We still have eight to nine months in this agreement, and we’re talking about plenty of time for this to be discussed at a later stage.” In April 2020, Abu Dhabi accepted its current baseline, but it doesn’t want the straitjacket to stay on for even longer. Abu Dhabi has spent heavily to expand production capacity, attracting foreign companies including French oil giant TotalEnergies SE. With Iran potentially returning to the oil market soon if it reaches a nuclear deal, patience for getting new terms is wearing out. Claiming a higher baseline is different to having one. Often countries make outlandish declarations of how much oil they can produce -- just to get a better deal. Few take those assertions seriously. But last year the UAE proved it had the extra barrels. During the price war, it pumped a record of 3.84 million barrels a day, according to OPEC estimates. Abu Dhabi says it produced more than 4 million. Before then, it had never produced more than 3.2 million and few believed it was able to produce much more. Now it can prove it has the barrels, that strengthens its hand in the negotiation. The Emirate proposal would even benefit Saudi Arabia, which could also secure for itself a higher baseline. But Riyadh has rejected it. The biggest loser would be Russia, which would see a much lower output target. And Saudi Arabia needs Russia onside. Aside from cartel arithmetic, geopolitical tensions are also in play. The country’s de facto ruler, Crown Prince Mohammed bin Zayed, once enjoyed close relations with the Saudi Crown Prince, Mohammed bin Salman. But the relationship between the two heirs appears to have cooled in recent months. And Abu Dhabi is flexing its muscles beyond the oil market, with bold geopolitical moves from Yemen to Israel. In another sign of tension as the OPEC standoff intensified on Friday night, Saudi Arabia moved to restrict citizens’ travel to the UAE, citing the pandemic. Bad Timing OPEC has been here before. There’s often friction in member countries between the oil ministry, which deals with the cartel and commits to quotas, and the national oil companies, whose priority often is to expand production capacity. In this case, Sultan Al Jaber, the head of the Abu Dhabi National Oil Co., led the charge to increase capacity. In the 1990s, it was Petroleos de Venezuela SA, the state-owned company of the Latin America country, which pushed ahead with an aggressive capacity expansion. With oil demand growing slowly in the 1990s, Caracas and Riyadh clashed, and the fight ultimately triggered a price war in 1998 that saw Brent crude plunge below $10 a barrel. In the 2000s, Algerian national energy giant Sonatrach SpA did the same, but benefited from better timing: booming Chinese oil demand allowed it to lift production 60% from 1996 to 2006 with the tacit consent of OPEC. Adnoc’s push was hindered by two factors: U.S. shale production and the coronavirus pandemic, both of which dented demand for OPEC barrels over the last five years. Al Jaber misread the market, or was unlucky with the timing. Who wins the standoff this time may depend on luck, a bit of bluffing, and who fears he has the most to lose from OPEC unraveling.
gibbs1
03/7/2021
07:45
OPEC DEAL DELAYED UNTIL SOMETIME MONDAY PERHAPS
la forge
03/7/2021
07:43
OPEC DEAL DELAYED UNTIL SOMETIME MONDAY PERHAPS
la forge
02/7/2021
15:54
Https://www.cnbc.com/2021/07/02/opec-meeting-oil-output-policy-decision-in-focus-as-prices-rise.html
waldron
Chat Pages: Latest  1453  1452  1451  1450  1449  1448  1447  1446  1445  1444  1443  1442  Older
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