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[spellbrook] 09/9/2018 22:16

How Much Longer Can The Saudis Suppress Oil Prices?

By Irina Slav - Sep 09, 2018, 4:00 PM C


Riyadh
When earlier this week reports emerged that Saudi Arabia is striving to keep oil prices in the range of US$70-80 per barrel in a bid to balance its need for higher prices with President Trump’s insistence that oil is kept within reasonable bounds, few must have been surprised.

OPEC’s leader and passionate supporter of Trump’s policy towards Iran had few useful moves in an environment featuring fast-rising prices and unhappy consumers from India to the States. It found itself between the rock of high prices, necessary for the Kingdom to pursue the widely advertised economic reforms under its Vision 2030 program, and the hard place of its closest ally’s own agenda, which unsurprisingly involved lower prices at the pump ahead of the midterm elections this November.

According to some, the hard place will disappear after the midterm elections. S&P Global Platts senior writer on oil Herman Wang is among them. In a recent analysis, Wang wrote that Trump’s pressure on Riyadh to keep a cap on prices could dissipate after the elections, potentially offering Saudi Arabia the freedom to adjust its production any way it sees fit to get to a more desirable price level.

Yet the extent of this freedom remains an open question: Wang notes that the midterm elections are a day after the entry into effect of the second round of U.S. sanctions against Iran, and additional supply will need to be provided to soften the blow. Trump has already authorized the sale of 11 million barrels from the Strategic Petroleum Reserve in November, but this will not be enough: S&P Platts analysts estimate the sanctions could take 1.4 million bpd of Iranian crude off the global market. Someone else will have to step in and pump more if prices are to stay within the current range

[diseasex] 07/9/2018 14:54

not the MCAP P/E etc though.

[mount teide] 07/9/2018 13:44

It could have something to do with the fact that the share price is still circa 30% down from the May high!

[diseasex] 07/9/2018 13:28

everything on my watchlist is falling except for trin ;o

[mark10101] 07/9/2018 11:09

Bring it on!

[diseasex] 07/9/2018 10:48

Mark its all bees and birds but time for facts and figures =)

[mark10101] 07/9/2018 10:36

Spellbrook, remember we did not just clear the debt we created a substantial cash war chest, what that will be put to use to I am sure we will find out shortly. A very interesting story developing here.

[diseasex] 07/9/2018 10:35

what would you ask then ?

[spellbrook] 07/9/2018 09:08

Have enquired with Trin / Walbrook if there can be an Investors Telephone Conference

[spellbrook] 07/9/2018 09:06

wwick, Allo Allo..$00000000000000000 debt

Interims in 2 weeks

[wwick] 07/9/2018 08:15

Spell, how much debt does TRIN have?

[mark10101] 06/9/2018 09:55

I think I got it.... just with you miserable sods around trying drum up a bit of joy and excitement in the world.:-)

[wwick] 06/9/2018 09:35

I av zat felling Tu 😉

[makingmillions] 06/9/2018 09:06

I have a felling nobody got that wwick.lol.

[spellbrook] 06/9/2018 08:18

Wwick

TRIN is now in that HUGE growth area, with money,NO DEBT, sound team and unbelievable BREAKEVEN costs...

This baby is waking

[mark10101] 06/9/2018 08:10

Hi wwick, long time no see. I am Fawlty Towers man, I can relate to it better.....

[wwick] 06/9/2018 08:07

Spell, I clinically detach the prospects before us from BOD behaviours. Proof is, my holding increased. BUT holders inequity remains unaddressed.

[spellbrook] 06/9/2018 07:56

Wwick have you forgiven the bod

No Debt , $20,000,000 in the bank

Allo Allo

[wwick] 06/9/2018 07:45

Mark have you been watching Allo Allo 😀

[mark10101] 06/9/2018 07:29

We know TRIN are sitting on a proven asset that could take TRIN to 11kbopd in the currently projected medium term. We know that T&T nationally produce around 40kbopd and that they want to rapidly increase production. With the fundraise and subsequent comments from Bruce in RNS’s, I to have a felling we are entering the phase many of us long term holders have been waiting for.

[spellbrook] 06/9/2018 06:11

I’m wondering if they have some very interesting news to come regarding East Coast



Resumption of East coast drilling ,

Barrel number 30 million has recently been produced from its Trintes Field offshore the East Coast



Outlook
The completion of the US$20.0m fundraising has ensured that the Company is now well positioned to take full advantage of the near, medium and long‐term opportunities that are available to grow and develop its onshore and offshore activities. The near‐term growth will be underpinned by the accelerated drilling programme onshore while the Company works towards a further material step‐change in production in the medium‐term with the resumption of East Coast drilling.

[spellbrook] 05/9/2018 18:16

Prime Minister Dr the Honourable Keith Rowley began his feature address at today's event by saying he is hopeful that Shell's return to Trinidad and Tobago is permanent

[spellbrook] 05/9/2018 18:15

Prime Minister Dr the Hon Keith Rowley will speak directly to scores of industry leaders in the energy sector when he delivers the feature address at a luncheon hosted by the Chairman of Royal Dutch Shell, Charles Holliday today.

[spellbrook] 05/9/2018 18:14

Lots happening in Trinidad and lots more to follow imo


PM Dr Keith Rowley says during the @Shell luncheon at @HyattTrinidad that regarding the Gov't's discussions with @Shell " we could move closer" to an agreement on the Loran/Manatee natural gas field that is separated by the #TrinidadAndTobago/Venezuela maritime border