Jadestone Energy Share Discussion Threads

[sea7] 26/4/2024 14:26

you are correct dunderheed - it would help if i divided the figs the right way round - duh - thanks for pointing it out - i have corrected my original post - the conclusions are the same, just far less per person, per day!!!

[dunderheed] 26/4/2024 14:18

Sea7 so you're telling me uk uses
67,000,000, * 51.5 * 365 bbls per year.
That's kind of high mate?!
I think thats about 33 years world production all used in 1 year by UK? We must have some big storage I'm not aware of?!

[sea7] 26/4/2024 14:10

dunderheed -you would be surprised how much you consume, when you consider the oil based products you use in your daily life..

a few examples, which are the tip of a very large iceberg

Apart from products that are made from either 100% wool or cotton, most clothing we buy today contains products made from petroleum. Polyester is a synthetic fibre that finds its way into 60% of clothing worldwide

As with clothing, polyester is used extensively in home furniture and soft furnishings, making the industry a significant consumer of petroleum products. Rugs that are made with synthetic fibres will generally use petroleum based fibres such as olefin or nylon.

Petroleum products are used widely in the cosmetics industry, not least in the manufacture of lipsticks. Paraffin wax is the chief petroleum product used in the industry because it has a melting point that’s close to the melting point of the human body. This means it’s easy to spread when it comes into contact with skin.

aspirin...One of the most widely used medicines on the planet wouldn’t be possible without petroleum products. Used to treat pain and inflammation, it consists of benzene which is a hydrocarbon derived from petroleum.

Petroleum is helping to fuel the renewable energy industry, providing key products in the manufacture of solar panels. Petroleum derived plastics are also found in the solar cell parts that are used to convert sunlight into electrical energy.

Acrylic resin, a hydrocarbon petroleum product, is used to make dentures along with other materials such as porcelain, metal and nylon. This acrylic resin can be dyed to look more like a natural gum colour. Petroleum also has a role in keeping your teeth clean and healthy with its use in the production of toothpaste. It contains poloxamer 407, a common petroleum derivative that assists the dissolution of oil-based ingredients in water.

Plastic packaging derived from petroleum products is used for a vast range of everyday uses, from shampoo to cosmetics and food containers.

An increasingly wide range of computer components use petroleum derived plastics. Plastics are used as insulation to protect computer parts against heat. They’re also used in polymer capacitors which conduct electricity. Some computer casings also contain plastics, and they are capable of creating complete electronic circuits. From telephones to Broadband Hubs, televisions, radios and vacuum cleaners, petroleum derived plastics are used to create a vast range of electrical goods.

Petroleum derived products are used across the food industry. Chewing gum contains petroleum wax, and many products such as crisps and snacks make use of colourings and other additives that contain petroleum products. Mineral oil can be used to help keep packaged baked goods fresher for longer periods.

[fardels bear] 26/4/2024 14:09

I'd say its 100% use case driven. It works 100% or it doesn't work 100%

[premium beeks] 26/4/2024 13:57

Most knockers of EVs have never owned one. We do and it serves our use case very well, completing 24k last year.We also have ICE as well, the government pushes too hard not allowing market forces to dictate.Costs are pennies compared to driving a fossil fuel car. I take the opinions of anyone who hasn't owned one with a large dash of salt.A reminder that statistics do not apply to the individual.Good to see the price going the right way and the company delivering what they said re: newsflow. Best to keep the politics of the Norwegians to the MT thread eh :)

[dunderheed] 26/4/2024 13:54

Sea7 I hope I don't consume 51.5 bbls a day matey?!

[mount teide] 26/4/2024 13:48

Owning an electric car is a bit like playing a game of pass the parcel. Everyone is slowly coming to understand that when the battery fails and needs replacing, as it ultimately will, whoever is unfortunate enough to own the car at that time, will either have a bill for tens of thousands of pounds or end up with a car worth less than the price of a replacement battery.

So basically no one wants to be left holding the parcel when the music stops......result: massive depreciation and extremely poor second hand values/market for these vehicles.

The transition to fully electric cars has probably been pushed on people and manufacturers about 10-15 years, or more before the world and the technology is remotely ready for it.

An owner of a £120k electric Porsche Taycan has put his experience of buying the car online. At 15 months old the garage that sold it to him, refused to buy it back, even as a part exchange towards a new petrol Porsche. The best price he was offered from other Porsche dealers was £53k! He was quoted £42k for a new battery and £7k to fit it.

[mount teide] 26/4/2024 13:40

'Despite 20% of all vehicles on the road now being electric, Norway’s gasoline and diesel demand fell by a mere 4%.

Our data suggests that Norwegians are reluctant to give up their ICE vehicles, even after purchasing an EV. We calculate that two-thirds of Norway’s EV households own at least one ICE vehicle.'...... Goehring & Rozencwajg

Some quality, well researched analysis from G&R on the EV 'Revolution'!


The Norwegian Illusion - Goehring & Rozencwajg - 28th Feb 2024

[tom111] 26/4/2024 13:35

The problems never end with having an electric cars even the ins is higher and if you have an accident it can cause damage to the batteries and in some cases all the batteries have to be changed costing thousands of pounds.Good luck to people who have them

[fireplace22] 26/4/2024 13:31

Cheers for the clarification sea7.

[sea7] 26/4/2024 13:21

norway use about 126,000 bopd and has about 5.5 million population. The UK uses about 1.3 million barrels a day and has about 67 million population

Norway citizens use about 0.02 barrels a day each
UK Citizens use about 0.19 barrels a day each

In other words, oil consumption in norway is on par, per person with the uk, thereabouts and as such, we won't see a large drop in UK oil consumption, if the eleccy car sales go much higher - bearing in mind that uk electricity production is zero oil and mainly gas.

[tom111] 26/4/2024 13:20

The population in Norway is only 5.5M which could be a factor

[fardels bear] 26/4/2024 13:19

Selling it to the Russians? ;7

[fireplace22] 26/4/2024 13:13

Re Norway, Most of that country's energy use is I'd guess is electricity due the exceptional hydroelectric resource and they have and a relatively low population (5M). So just what would they need substantial amounts of oil for? The demand for oil in Norway was probably at a very low level and remains the same despite a further increase in EV's. In other words Norway is pretty unique and what goes on their can't be extrapolated elsewhere.

[dunderheed] 26/4/2024 13:09

Lol always confident, me.

[dcarn] 26/4/2024 13:01

Well done team, never in doubt.

[nigelpm] 26/4/2024 13:01

My earlier posts were worryingly accurate!

[sea7] 26/4/2024 13:01

rns out !!!

[neo26] 26/4/2024 13:00

Ther it is.. :)

[sea7] 26/4/2024 12:56

The fact that a record 90% share of all new car sales in Norway are electric has failed to make any impact on the country’s oil demand, indicating that hopes of rising EV uptake making an immediate dent in global oil demand are unrealistic.

And

The lack of a noticeable dent in oil demand in a country where EVs are 90% of all new car sales is a cautionary tale for those predicting an immediate drop in oil demand due to rising EV sales, according to UBS.

The bank still sees years of rising global oil demand.

[nigelpm] 26/4/2024 08:59

Just to clarify Nigel, using your previous experience. The RBL was due to be signed on April 1 for the next 6 months, with production from Akatara due from July 1, and you say a delay at Akatara would have no affect on the RBL signing.

Correct. The RBL (assets secured on) will not include Akatara at this stage.

[winnet] 26/4/2024 08:45

Puzzkler is correct IMO

[puzzler2] 26/4/2024 08:15

"The RBL facility will also fund the Company's operations and capital investment program, particularly the Akatara gas project onshore Indonesia, and can be also used for general corporate purposes."

All that says is what the RBL facility will likely be used for - NOT the assets on which the RBL facility is secured.

[pughman] 26/4/2024 08:13

Just to clarify Nigel, using your previous experience. The RBL was due to be signed on April 1 for the next 6 months, with production from Akatara due from July 1, and you say a delay at Akatara would have no affect on the RBL signing.