Shell Share Discussion Threads

[32campomar] 20/3/2020 20:29

WTI slumped below $20 again. Big sell off again on Monday

[spud] 20/3/2020 19:55

Cheap, cheaper & cheapest. Long live buybacks at ridiculous valuations. spud

[la forge] 20/3/2020 19:52

a and b buybacks continue

[waldron] 20/3/2020 17:33

U.S. shale producers open talks with OPEC - WSJ
Mar. 20, 2020 1:10 PM ET|About: The United States Oil ETF, LP (USO)|By: Carl Surran, SA News Editor

OPEC secretary general Mohammed Barkindo will meet today with Texas railroad commissioner Ryan Sitton, whose agency oversees the U.S.'s biggest oil producing state, WSJ reports.

The talks come as the Texas regulator reportedly considers curtailing production for the first time in decades, as shale oil companies, which are heavily in debt and produce at a higher breakeven price than conventional producers, have been hit hard by the Saudi-Russia oil price war.

Proposed cuts in U.S. oil production are seen as way to help OPEC broker a truce in the price war, according to the report.

WTI crude oil (NYSEARCA:USO) -2.8 to $24.52/bbl in choppy trading after rising early and then falling as much as 10%.

Top Permian Basin producers include CVX, OXY, CXO, PXD, FANG, EOG, APA, XOM, XEC, PE, RDS.A, DVN, NBL

[waldron] 20/3/2020 17:28

Brent Crude Oil NYMEX 28.67 +0.70%
Gasoline NYMEX 0.68 -1.46%
Natural Gas NYMEX 1.71 -1.22%
WTI 25.647 USD -2.78%


FTSE 100
5,190.78 +0.76%
Dow Jones
19,983.17 -0.52%
CAC 40
4,095.83 +6.23%
SBF 120
3,196.27 +5.32%
Euro STOXX 50
2,548.5 +3.58%
DAX
8,928.95 +3.70%
Ftse Mib
15,669.59 +1.31%



Eni
7.293 +4.71%


Total
25 +11.11%

Engie
10.405 +1.17%


Bp
251.7 +4.55%

Vodafone
112.52 -3.00%

Royal Dutch Shell A
1,062.2 +4.08%

Royal Dutch Shell B
1,033.6 +7.67%

[whiskeyinthejar] 20/3/2020 17:08

I doubt Russians are ready to do a deal with Texas though. Rosneft is quite bitter about being sanctioned. And American public have idea of US oil defeating everyone else, not cooperating or conceding to Saudis. Oil industry is source of American national pride. That should change after a few weeks of depressed prices and jobs being lost though.

[ohojim] 20/3/2020 16:53

Thanks Whiskeyinthejar.

Here's a link that gives a reasonable summation of recent oil history.

[crossing_the_rubicon] 20/3/2020 16:45

"darrin147120 Mar '20 - 14:16 - 11676 of 11689
Seriously what is wrong with this relatively simple plan"

It's anything but simple for starters.

It's unworkable

The cost of the bureaucracy alone to adminsiter all of that would be more than simply bunging every adult £500-£1000 per month, every month.

[redike1] 20/3/2020 16:43

I don’t know who is to blame for the current mess we find ourselves in but I feel that my dog should shoulder some of the responsibility. The other day I found 4000 tins of panic bought ham in the garage, every time I take it out it heads straight for the pub and now I have found its been buying shares every time the market tries to rally. Completely ignoring my specific advise that there would be a number of false dawns before consistent positive news signals we are approaching the bottom. Its going to be in so much trouble when my wife gets home.

[crossing_the_rubicon] 20/3/2020 16:43

"darrin147120 Mar '20 - 14:13 - 11674 of 11689
I am a small business owner. 10 staff on just above minimum wage. I have enough savings and stock to close down for 10 years while still paying rent and wages"

Great, that means you need NO HELP then.

"My low paid staff have family and friends who are about to made redundant and the bill will be picked up by the state benefits and subsequently by taxpayers and those with savings"


Shouldnt you be paying them more then?

[fjgooner] 20/3/2020 16:42

Here is Bloomberg's take on the TRC story, published today.

This could be VERY big news next week, just in time to avert the April 1st pump-fest and allow the two schoolboys to both claim that they didn't back down.

-----



Texas Regulator Considers Oil Output Cuts for First Time in Decades
By Rachel Adams-Heard, Kevin Crowley, and Javier Blas
March 19, 2020, 10:07 PM GMT Updated on March 20, 2020, 10:55 AM GMT

> Staff said to be reviewing how to implement ‘pro-rationing’
> Commissioner calls on Trump to coordinate with Saudis, Russia

Extract - see link above for the full article

Texas’s main oil regulator is weighing for the first time in nearly half a century whether the state should curb crude production, a move that would have an enormous economic and political impact.

The idea, still in preliminary discussions among the staff at the Texas Railroad Commission -- which despite its name regulates the oil industry -- comes after prices plunged to levels last seen 18 years ago. It shows that a policy once considered unthinkable is now being mulled as companies slash spending.

As a first step, the staff is reviewing how implementing the reduction of output via what’s known as pro-rationing would look like in practice, according to people who have discussed the issue. On first review, the staff believes it’s legally possible to mandate pro-rationing, one of the people said.

Ryan Sitton, one of three commissioners at the regulator, wrote in a Bloomberg Opinion piece Friday that the federal government could coordinate output cuts with Saudi Arabia and Russia to calm the market. Such an approach could stabilize prices in the mid-$30s, Sitton wrote, which would “stave off a total oil industry meltdown.”

“In theory, Texas could cut production by 10%, and if Saudi Arabia is willing to cut production by 10% from its pre-pandemic levels and Russia is willing to do the same, it would return the market to pre-crisis levels (and only somewhat oversupplied),” he wrote. “With other governments manipulating oil markets, it’s fair to ask: Why shouldn’t our government step in?”

[crossing_the_rubicon] 20/3/2020 16:42

XXXXX
"Dave
Posted March 19, 2020 at 7:20 am | Permalink
Incredible that we have allowed an extremely mild strain of a flu like illness to paralyse the world"


Mild case of flu??
Dave is clearly an idiot.

If only the Chinese had given us the real numbers. Same for Iran.

[crossing_the_rubicon] 20/3/2020 16:40

"darrin147120 Mar '20 - 14:04 - 11669 of 11689
It is very simple compared to other options. Money paid through PAYE is recorded and available for inspection by HMRC for up to 6 years"

Your suggestions arent simple at all. Nor are they more simple than many other options.

The easiest option is to simply give every adult £500 - £1000 each per month.
As it seems they will be doing in the US.

Call it a UBI? Money print to finance it.

Far more workable.

[whiskeyinthejar] 20/3/2020 16:30

ohojim:

#Opec's sec gen Barkindo said to hold talks with Texas oil regulator #oott

[flyfisher] 20/3/2020 16:21

Darrin, may i suggest the SHA politics thread as being a more appropriate thread for your post.

[ohojim] 20/3/2020 16:07

fjgooner

Surely they are just a regulator, and only in the US, OPEC is the new version of it. I am not up to speed on how Texas can still help with Putin's and Bin Salman's intransigence. What do you know?

[xxxxxy] 20/3/2020 15:56

Simon Brown 20 Mar 2020 3:50PMExtract from Live Sciencehttps://www.livescience.com/new-coronavirus-compare-with-flu.html"So far, the new coronavirus has led to more than 220,000 illnesses and more than 9,300 deaths worldwide. But that's nothing compared with the flu, also called influenza. In the U.S. alone, the flu has caused an estimated 36 million illnesses, 370,000 hospitalizations and 22,000 deaths this season, according to the Centers for Disease Control and Prevention (CDC)." We really do need to get this in context.

[fjgooner] 20/3/2020 15:41

Don't forget the good ole Texas Railroad Commission.

That's the key to unlock this door to agreement between Putin and bin Salman.

[zho] 20/3/2020 15:16

Russian President Vladimir Putin will refuse to submit to what the Kremlin sees as oil blackmail from Saudi Arabia, signaling the price war that’s roiling global energy markets will continue.

[ohojim] 20/3/2020 15:12

Well here's BP in blue, Shell in orange and WTI crude in turquoise (nice), the story so far for March. Fairly convincing downtrend, but some might see a Bull flag? Hmmmm

[supermarky] 20/3/2020 14:45

bp less than 4% up now

[mayers] 20/3/2020 14:43

Well said ohojim, it is tiresome to have to wade through these narrow political diatribes whilst pursuing sensible comment related to this stock.

[darrin1471] 20/3/2020 14:28

"as we do not have utopia it is ridiculous to consider either compliance or policing."

It is simple.
More simple and fair than any other poposisions I have heard of.
How ridiculous was it 4 weeks ago the thought of exams being cancelled and cities being locked down