Tullow Oil Share Discussion Threads

[virtues and strengths] 18/4/2020 12:45

US shale industry expected to shrink sharply as oil price falls
Producers forced to shut rigs as demand slumps and US market drops below $18 a barrel

Jillian Ambrose Energy correspondent

Fri 17 Apr 2020 16.12 BSTLast modified on Fri 17 Apr 2020 17.09 BST
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Natural gas is flared off as oil is pumped in the Bakken shale formation in North Dakota.
Natural gas is flared off as oil is pumped in the Bakken shale formation in North Dakota, US. Photograph: Rex/Shutterstock
The US shale industry is expected to shrink by more than 2m barrels a day following a collapse in global oil prices which has forced oil producers to shut down their fracking rigs.

The US oil market slumped to fresh 18-year lows and below $18 a barrel on Friday following one of the biggest hikes in US oil stocks on record as demand for oil continues to fall and storage facilities near their limits. The international benchmark oil price fell to $28 a barrel.

“The market knows that the US crude stocks will fill very rapidly,” said Bjørnar Tonhaugen, the head of oil markets at Rystad Energy. Tonhaugen said US crude oil stocks might reach an all time high by the end of the month and continue to build in May.


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Rystad Energy expects the US shale industry to shrink by 2.1m barrels a day, or 2% of global supplies, compared with forecasts for the industry before the coronavirus outbreak.

US shale was expected to grow by 650,000 barrels a day this year before the coronavirus outbreak wiped out forecasts for global oil demand, triggering one of the steepest oil price declines on record. It is now forecast to shrink by 1.5m barrels a day compared to last year and that may accelerate even further.

One of the largest US oil companies, ConocoPhillips, plans to slash its North American oil production by 225,000 barrels of oil a day and cut its planned spending by more than a quarter to $4.3bn.


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The US oil giants ExxonMobil and Chevron have also set out plans to rein in oil production and spending as US oil projects take the brunt of a sharp decline in global oil demand. Exxon will cut its planned spending by 30% or $10bn this year, while Chevron will cut its spending by a fifth, or $4bn, compared with last year.

Many smaller oil produc

[virtues and strengths] 18/4/2020 12:42

Saudi Aramco to market 8.5m bpd of crude oil from May
Oil giant has not clarified how this would be split between exports and domestic supply

Saudi Aramco to market 8.5m bpd of crude oil from May
Global oil prices have collapsed amid economic turmoil due to the novel coronavirus pandemic, along with a supply glut and the Saudi-Russian price war.

Saudi oil giant Aramco said on Friday it would market 8.5 million barrels per day (bpd) of crude from May under a producers' agreement to restrict supply and boost plummeting prices.

The deal came after a price war between Riyadh and Russia saw the kingdom boost supplies to records of over 18m bpd earlier this month.

In a brief statement on the website of the Saudi bourse, the firm said Friday it would make available 8.5m bpd, without clarifying whether or how this would be split between exports and domestic supply.

Global oil prices have collapsed amid economic turmoil due to the novel coronavirus pandemic, along with a supply glut and the Saudi-Russian price war.

But the OPEC+ alliance of major producers, led by Riyadh and Moscow, agreed Sunday to slash daily production by 9.7m bpd over the next two months.

According to the deal, Saudi Arabia and Russia will cut 2.5m bpd each from their October 2018 production levels of 11m bpd.

Saudi energy minister Prince Abdulaziz bin Salman was quoted by local media on Tuesday as saying that G20 producers outside OPEC+ have pledged to cut 3.7m bpd.

Taken alongside the OPEC+ pledges and strategic reserves purchases, this could reduce global supply by 19.5m barrels per day, he said.

[the stinger] 18/4/2020 11:24

Quick 120% Monday!!!!


IMPORTANT INFORMATION – OFFER FROM FV BETEILIGUNGS-GMBH (FVB)
The Notice of Annual General Meeting and Form of Proxy, and where requested, the 2019 Annual Report, are being sent to Low & Bonar
shareholders now although the 2020 Annual General Meeting will not be held until Friday 22 May 2020. It is possible that the FVB offer will
complete before 22 May 2020 in which case it will not be necessary for you to attend the 2020 Annual General Meeting.
Regulatory clearances are still awaited in respect of the FVB offer and once these are close to being substantially finalised, we expect to send
shareholders an update on the offer and the next steps to be taken.
The 2020 Annual General Meeting will proceed as notified in the Notice of Annual General Meeting if you do not receive any further
communication from Low & Bonar.

[the stinger] 18/4/2020 11:10

Quick 120% Monday!!!!


IMPORTANT INFORMATION – OFFER FROM FV BETEILIGUNGS-GMBH (FVB)
The Notice of Annual General Meeting and Form of Proxy, and where requested, the 2019 Annual Report, are being sent to Low & Bonar
shareholders now although the 2020 Annual General Meeting will not be held until Friday 22 May 2020. It is possible that the FVB offer will
complete before 22 May 2020 in which case it will not be necessary for you to attend the 2020 Annual General Meeting.
Regulatory clearances are still awaited in respect of the FVB offer and once these are close to being substantially finalised, we expect to send
shareholders an update on the offer and the next steps to be taken.
The 2020 Annual General Meeting will proceed as notified in the Notice of Annual General Meeting if you do not receive any further
communication from Low & Bonar.

[spec7] 18/4/2020 10:46

MC
I have made enquires with ADVFN
That header is put there by plus coin. basically BB posts this on a thread then promotes it to a plus coin post and its then put on all the TLW threads.
I made enquiries as to whether i could start a premium thread to get rid of this and ADVFN say he can still post that on a premium thread if he pays top coin to do it

Basically for a few bob he can do what he wants and post what he likes.

[mcsean2164] 18/4/2020 10:24

Bigger is better,

Can you please remove your gif from the header?

[sbb1x] 17/4/2020 23:34

US #fracking down 30%, #rig count down 20% and we predict the rig count to drop by 60% over this phase of economic weakness, says @SPGlobalPlatts Analytics' Chris Midgley. Compare to 2015-16, #oil industry will come back but consolidated. Hear podcast: https://t.co/EE5qp5wiNY https://t.co/MyTMDXCdWH

[sbb1x] 17/4/2020 23:33

Brazil's ANP reviewing requests to shutter 65,000 b/d in output, expects more* Additional requests could reach up to 200,000 b/d* Oil industry registers 162 confirmed COVID-19 cases* High stocks, sluggish sales curtail refinery outputFull story: https://t.co/2E8YlvVsSN https://t.co/cL0AZBWIkP

[sbb1x] 17/4/2020 23:31

Saudi Aramco Is Preparing To Cut Its Production By Around 3.8 Million B/D By May 1st - EnergyIntel

[cool hand kev] 17/4/2020 20:45

Nothing much interesting going on then

[leoneobull] 17/4/2020 18:42

How am I using Major Tom? I am saying he is a hero. Likewise, people willing to pick fruit and vedge for several months when there are not enough Brits are also heroes.Dean Ranger

[leoneobull] 17/4/2020 18:28

Hope so, then I can get some more

[smartie6] 17/4/2020 18:24

Monday, this could be 12p.
Couldn't it?

[leoneobull] 17/4/2020 18:19

Our British heroes like Major Tom, our Romanian heroes, keeping the veggies going, and our Portugese and New Zealand nurses keeping the PM alive.

[sux_2bu] 17/4/2020 18:03

I notice someone has resurrected the rumour of Total bidding for TLW. Yet Total CEO denied it back in Feb.


Has some other news leaked, any know of ?

[spec7] 17/4/2020 17:57

No worries Sean, I am interested to learn.
We almost had a grown up discussion here about viruses and TLW till the silly kid turned up. I hoped that by coming to this thread i might have left the idiots behind on the other one but no such luck.
we need a moderated thread.
HGW

[mcsean2164] 17/4/2020 17:42

Spec7,

Hope I didn't come across as a know it all. A lot of it is new to me too. I spent a while trying to understand it and put the work here...

[mcsean2164] 17/4/2020 17:39

ss,

Timelines for Uganda to conclude discussions on the final investment decision have always been shifting.

However, it is expected that the decision will be taken in 2020.

That actually sounds promising to me. Would be great if it went through this summer.