 "UK natural gas futures surged past 130 pence per therm" adding to the cost of heating and energy costs for business (gas is still used to produce electricity).
Which no doubt will delight Miliband - whilst GB sits on huge underutilised gas reserves we continue to run down storage making us vulnerable to huge price hikes whilst we import it at the same time as virtue signal we are moving to net zero.
No doubt 5 years of cold winters will suit the govt as more an more OAP's freeze to death , just in time for less votes against them at the next election / lower pensions costs , more IHT receipts , difficult to budget for but if their own figures say 1000's more will die each winter its going to add something , and of course no outcome on the latest social care review - but less OAP's to deal with eventually so win win.
Meanwhile the real net zero is , net zero manufacturing jobs as its impossible to compete given our energy costs. Reeves is on the same page with that one though - just in case energy costs don't achieve it - NI and NLW are more nails in the coffin.... |
Fossil fuels are in demand:- "Porsche is to expand its range of petrol cars after admitting internal combustion engines will be around for "much longer" thanpreviously thought. The decision comes despite looming net zero deadlines in Britain and Europe which will compel carmakers to sell fewer petrol cars and more electric vehicles. "Three cheers for Porsche |
Natural Gas UK GBP (GBp/thm) 142.26 5.80 (+4.25%) New high.
UK natural gas futures surged past 130 pence per therm, hitting their highest level since October 2024, as a cold snap and dwindling storage levels fueled market jitters. With gas stocks depleting faster than usual and February shaping up to be chillier than expected, traders are on edge. Europe's storage sits at just 51% capacity—well below last year’s 69%—while the UK remains particularly exposed due to its limited reserves and heavy reliance on European imports. Adding to the turmoil, global trade tensions are heating up, with China slapping a 15% tariff on US gas in retaliation for Trump’s latest round of tariffs, stoking fears of further supply shocks. |
Euro Gas Storage levels (particularly Holland, France and Germany) are trending below mean average levels. Refilling gas storage in Q2/Q3 and perhaps a tussle with Asia for gas should keep gas prices higher than normal over the summer months. |
Still the price of Nat gas rises and this is in the doldrums... |
Most big charities are gravy trains for their executives.
The Miliband brothers have both found lucrative ways of saving the world. |
Does any salary stink more than raking in £1m a year from a CHARITY ? |
Milliband is just like king Canute, he will pursue his crazed idea with nobody daring to challenge him given his historic standing in the party. When it fails he will swan off into the private sector and join the champagne lifestyle of his smug brother who rakes in a million a year from a charity! |
Interesting split developing on Rosebank within UK.gov, as well as the labour party itself. |
There will be no tariff's - it's just Trump's negotiating tactic - can't believe people fall for it EVERY SINGLE TIME |
DEC looks to be a certain beneficiary of Trumps tariffs, one of the few. |
Dougmachin,
" Do Sercia's assests have an equivalent to a LoM (life of Mine)?"
They have reserves and resources, similar to a mining company. They are updated and published every year, and not hard to find. |
Tariffs to be applied to the EU as well by Trump, I wonder if the UK will escape these? Possibly not especially if Starmer gets too chummy with the EU. |
xxnjr - I'm guessing the company has announced that because they're a bit worried that the orangutan will not give the longer term licence..? Rhum isn't a national security threat to the US but not providing the licence would increase demand for American LPG. It's a long shot but it can't be ruled out. |
Not if global growth is decimated and remember he has vowed to rebuild strategic reserves cheaply. |
O&G stocks may be one of the very few segments to benefit from Trump's new tariff policy. |
Our (very) sleeping partner. Their share of profits were previously held in an escrow account but I'm not sure if that's still the case - I recall some kind of prisoner deal a few years ago which may or may not have affected this. |
Yup......its all about sanctions on Iran. |
Twas ever thus. |
In case anyone's wondering. OFAC is the very powerful US Office of Foreign Assets Control. Whilst I can see why my investments in Venezuela require OFAC licenses, I'm somewhat surprised to find Rhum does as well. OK, got it now! Our partner in Rhum is Iranian Oil Company. |
Hi. I've generally been investing in mining stocks, especially linked to Cu. Also, stocks that might benefit from electrification (data centres, EVs).
Looking to diversify and into good dividend payers!
Do Sercia's assests have an equivalent to a LoM (life of Mine)? |
I expect the results to be shocking going by 2nd half production so it's all about first 3 months of 2025 to show cash generation potential. I too added this week so always nervous when you get a drop on a Friday as SQZ can be leaky at best of times. I just hope UK doesn't sign up to any LNG contracts with US as it's now clear they can't be trusted and doesn't make any financial or environmental sense whatsoever when we have the gas on our doorstep |
Yes I noticed that as well monet, quite a bit earlier than usual, hopefully a positive sign! And obviously confident enough to post them on 1st April! ;-) |
Allowing new oil and gas fields would add £200 billion to UK economy |
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