Soco Share Discussion Threads

[nigelpm] 23/7/2017 20:39

Completely agree with ee. Anyway, let's stay on topic - could be an interesting week.

[emptyend] 23/7/2017 18:34

Whilst no fan of Trump, he was legitimately elected US President. He should therefore be welcomed with at least as much (more, really, since the USA is a strategic ally) courtesy as was accorded to the President of China. And if he is not then we are simply cutting off our collective noses to spite our face - it would be pointless grandstanding by people who don't believe in democracy when it comes up with an inconvenient answer.I don't want to start a debate on this. It is simply a fact.

[greyingsurfer] 23/7/2017 16:12

Forgot CAPITALS T. If don't shout then FAKE NEWS. Very very BAD.

[tournesol] 23/7/2017 15:29

Nigel

Are you saying that you will go out to cheer (metaphorically at least) when the Donald is driven in state through the streets of London to make a historic address to the Commons and the Lords?

Bad

Very Bad.

The baddest thing ever.

[nigelpm] 22/7/2017 21:37

Yep. Always the same. Like the protestors whining about trump visiting or capitalism. Total imbeciles who are unable to understand the real world and never protest the real issues because they are too difficult for them to understand. Rant over!

[emptyend] 22/7/2017 10:43

https://www.africaintelligence.com/AEM/oil/2017/06/27/block-v-former-soco-players-behind-oil-quest-international,108251645-ARTShould we all congratulate the WWF mafia for engineering a situation in which SOCO is pilloried and ousted, to be replaced by an outfit that they won't be able to hold accountable - or blackmail or pressure? I predicted precisely this situation to the faces of Anthony Field and David Nussbaum - it is a lose/lose outcome for (nearly) everyone, thanks to WWF stupidity and obstinacy.

[greyingsurfer] 22/7/2017 09:24

I hope they don't charge for that sort of insightful analysis?

[lauders] 22/7/2017 00:15

Is SIA a "small cap"? Anyway, perhaps we will have some news here that will make this piece seem like a prophecy! Not that there was much content to it when typed:



Improving performance

Also offering upside potential as a result of its bright future outlook is sector peer Soco International(LSE: SIA). As with Victoria Oil & Gas, it has recorded somewhat disappointing financial performance in recent years. For example, its pre-tax profit declined from $445m in 2012 to just $5m last year. This is a major reason why the company's share price has moved 60% lower in the last five years.

Looking ahead, it could mount a successful recovery.

[emptyend] 21/7/2017 17:09

Biggest volume for a month.....despite Brexit....and desperate posts about oil prices..........still no response...... ;-)

[nigelpm] 21/7/2017 16:46

Didn't get matched but lots of interest - buy side up to 123p and crossed at 119.75p

Bodes well IMHO.

[nigelpm] 21/7/2017 16:32

Send for the nurse - someone put a buy order in auction of 263k shares at 117p!

[buywell3] 21/7/2017 16:06

wrong sided again

Oil Retreats on OPEC Doubts


Light, sweet crude for September delivery recently lost 72 cents, or 1.5%, to $46.19 a barrel on the New York Mercantile Exchange. Brent, the global benchmark, lost 71 cents, or 1.4%, to $48.59 a barrel on ICE Futures Europe.

Further confirmation of rising supply from the Organization of the Petroleum Exporting Countries helped sink oil from earlier gains in overnight trading, brokers said. Tanker tracking firm Petro-Logistics said OPEC supply is on track to exceed 33 million barrels a day in July, which would be the highest since December 2016, according to newswire reports. The Swiss company couldn't immediately confirm the reports.

The data isn't far from what has already been reported. The International Energy Agency said last week that OPEC crude output was rising to its highest level in 2017 at 32.6 million barrels a day, driven by Libya, Nigeria and Saudi Arabia.

But any prospect for more OPEC supply increases can shake a market in which a rally was already looking fragile, brokers and analysts said. A recent rally, which includes U.S. oil's longest winning streak in seven years, has stalled in recent days as it bumped up against six-week highs, a signal to some momentum-based traders that oil's next move is a retreat.

OPEC has tried to right the market with a pact to cut output this year, but it hasn't pushed futures prices to the $60 mark that many expected. Now traders are becoming leery again of rising production from several sources globally, including countries that were supposed to be part of OPEC's output cuts.

"The silent fear now is that the OPEC deal could really start to unravel, " said Bill Baruch, chief market strategist at Chicago brokerage iiTrader.

OPEC officials are about to start meetings in Russia this weekend with counterparts from non-OPEC countries that have participated in this year's output cuts. Delegates are supposed to discuss the possibility of including two previously exempted OPEC members, Nigeria and Libya, into the deal. But traders are becoming skeptical that meetings will produce any significant changes.

"We're getting back to this idea that the market may not rebalance as thought," said Bart Melek, head of commodity strategy at TD Securities in Toronto. "What's triggering it is the lack of signaling from Saudi Arabia, OPEC and Russia that they may do more."

Gasoline futures recently lost 2.1%, to $1.573 a gallon, and diesel futures lost 1.7%, to $1.5172 a gallon.

[nigelpm] 21/7/2017 13:42

Be nice if the sellers have left for a few years!

[lauders] 21/7/2017 13:32

Hope it actually means something and we will have some action round here at last. The SIA BOD are totally "off radar" at the moment, even if their legs are paddling away under the surface.

[kenobi] 21/7/2017 13:19

up to over 118 now ! those sellers must have left early for the week end !

K

[nigelpm] 21/7/2017 12:59

ee's comment was interesting - a week ago I think about the possibility of potential bidders

[buywell3] 21/7/2017 12:43

It ain't me

[nigelpm] 21/7/2017 12:42

Sellers at 111.5 this morning - really flurry of activity and then into the midday auction and now 117.25 to sell.

Someone is keen.

[buywell3] 18/7/2017 09:26

Politicians will follow the lead from France



We are talking only 23 years and NO internal combustion driven cars in Frogland

Other politicians including the UK are gearing up (queens speech)

Time for OIL BOD's to wake up and smell the coffee

They need to diversify whilst they can before OIL becomes an obsolete fuel source

As demand falls for OIL from the motor industry and transport industry ( diesel lorries ) the present over supply situation due to USA shale oil production will be exacerbated forcing OIL price lower.

The big producers have been advised this is coming ..... proof I hear you ask

Why do you think SA is now wanting to sell/float 5% of its OIL on to the market ?

They are seeking a value of $2 Trillion for the whole

5% = $100 Billion

More than the GDP of half the countries in the EU (not added together)

They want their lolly now before things get worse

So they can buy profitable businesses in the UK .... cheap due to a low pound

They know that lower OIL prices are coming and OPEC cuts don't work any more due to Mr Trump











18th July

Ecuador risks Opec split by increasing oil output
Move represents a tiny proportion of world production, but could embolden others to rethink their commitment to cuts

Ecuador has become the first country to publicly admit it will not meet Opec’s production curbs, saying it needs to pump more oil to address its fiscal deficit.

The South American country’s promised cut of 26,000 barrels of oil a day is a tiny drop in the 1.8m b/d that the cartel recently agreed to curb until early 2018, but the decision is still the first crack in the deal’s unity.

“There’s a need for funds for the fiscal treasury, hence we’ve taken the decision to gradually increase output,” oil minister Carlos Perez told local television, adding he did not think the decision would have a big impact on Opec’s output.


US approves oil drilling in Alaska waters, prompting fears for marine life
Read more
However, experts said the move could embolden other countries to rethink their commitment to the cuts.

Opec producers and non-members including Russia extended but did not deepen production cuts at the end of May, and the oil price subsequently fell by 8% in June.

Recent figures from the cartel show that Opec production in June was up 1.2% on May, as countries including Libya and Nigeria, which are not covered by the deal, pumped more oil.

Compliance with the club’s curbs has also slipped from 95% in May to 78% in June, according to the Paris-based International Energy Agency. Historically, during previous Opec production curbs, compliance has weakened over time.

[buywell3] 17/7/2017 17:17

From the BP. thread


strutt1217 Jul '17 - 15:57 - 89231 of 89232 0 1
20 minutes to charge up whilst you have a loo/coffee break. Always leave home with a full charge, the way forward, been electric now for 3 years ;-)



Re posts about lack of charging points , they will never be able to provide them etc

Be prepared to be amazed, the future is already happening today

[armunro] 17/7/2017 16:36

Electric cars are a great idea. But the problem is the volatile and expensive lithium ion batteries. If someone solved the battery problem then there would be no limitation. I tend to buy 2nd hand cars and the biggest risk for buying a battery based car is the battery pack; replacing/fixing these is prohibitive. So there you go batteries are naff in electric cars. All we need now is exploding electric cars and fires due to the lithium batteries and no one will want to buy them!

[greyingsurfer] 17/7/2017 09:10

Buywell - read your own quote!

EVs might cut global demand by 8mmbopd by 2040 - in 23 years!

Global demand is currently increasing at around 1-2mmbopd annually.

Of course there will be growth in the use of EVs and hydrids and that will reduce demand (if we manage to avoid generating all the electricity for the EVs using oil), but the figures you yourself quote show that it will be a slow incremental effect - exactly what I and others have said to you in previous posts. With minimal impact on PoO in the sorts of time frames any of us are likely to be interested in on the SIA board.

Peter

[buywell3] 17/7/2017 08:44

Electric Cars Could Cut Oil Demand by 8 Percent
2017-07-16

More than a year after oil prices hit rock-bottom amidst a global supply glut, the cost of a barrel of crude is still stuck in the range of $50. The U.S. Energy Information Administration now estimates that prices will remain near current levels through at least the next year, with serious implications for the offshore industry. Adding to these persistent concerns, the biggest organizations in oil, energy and auto manufacturing are all upping their estimates of the future market share of electric cars, according to a new report from Bloomberg New Energy Finance (BNEW).

BNEW predicts that plug-in vehicles will make up a third of the world's fleet by 2040, or about 530 million cars. If this development proves true, it would cut oil demand by as much as eight million barrels a day – about eight percent of the expected global total, and more than the entire export volume of Saudi Arabia.

The cause? Falling costs, BNEW says. It expects to see price parity between electric and conventional vehicles in just eight years, thanks in large part to economies of scale in lithium-ion battery production. The price of batteries has fallen by 70 percent since 2010, and it is expected to fall by half again by 2025.

[jotoha2] 17/7/2017 08:38

And as for electric cars, takes far more energy to manufacture electric vehicles , and once the subsidies go then the sales will fall through the floor , just look at Denmark and Tesla from boom to bust in sales in 12 months.