Tullow Oil Share Discussion Threads

[subsurface] 15/9/2021 00:14

East Africa's energy future shines bright - investors are watching.

[janhar] 14/9/2021 10:20

I'd be surprised if it wasn't a target as there's been very little investment in Exploration by the majors since the ESG mob rejected the sector and Covid wiped out demand. Global oil consumption will continue to rise until a viable alternative is discovered and that won't be for some time to come.

[badger36] 14/9/2021 10:09

All the speculation that CNOC would buy Tullow when it was in the teens may now resurface given the destruction of market cap but still the presence in and off the coast of Africa China needs oil irrespective of the greens

[grupo] 14/9/2021 09:49

Oil Glut That Covid Built All But Gone on Resurgent Demand

Bloomberg News, Bloomberg News



(Bloomberg) -- Global crude inventories that ballooned during the pandemic have shrunk to the lowest level in 20 months as an economic rebound in top consumers China and the U.S. drive a robust recovery in fuel demand.

About 2.97 billion barrels of crude oil were stored onshore globally as of Sept. 5, the least since January 2020 before Covid-19 eviscerated demand, according to data analytics firm Kayrros. U.S. stockpiles are at a two-year low, those in China are the smallest since September 2020, while inventories at the African hub of Saldanha Bay are at the lowest since April last year.

Oil consumption in the world’s top guzzlers has surpassed pre-pandemic levels and underpinned a red-hot rally in crude prices, although it’s faltered over the last couple of months due to the delta variant of the virus. China’s depleted inventories also have some in the market predicting that the biggest crude importer will start replenishing its giant reserves again soon.

“There was really a surge in crude oil demand, especially in the first half of this year,” said Victor Shum, vice president of energy consulting at IHS Markit. However, he predicted that the draw-down of inventories will slow as OPEC+ pumps more, and that demand surges are “probably turning a corner.”

Global inventories swelled in July last year to the highest level since Kayrros started compiling its data in May 2016. Since then, there’s been a steady drop across most regions. Onshore storage in Europe and the Middle East are about 28-to-35 million barrels lower than a year earlier, according to Kayrros.


U.S. stockpiles may decline even further if production halted by Hurricane Ida resumes slower than the return of refining capacity, said Sri Paravaikkarasu, head of Asia oil at FGE. The Category 4 storm swept through the Gulf of Mexico and crashed into the coast two weeks ago.

Higher crude prices have also encouraged refiners to tap more stored oil, while a bullish backwardation structure has made it uneconomical for traders to hoard crude. China recently took the unprecedented step of offering crude reserves to domestic processors to try and cool prices.

The Asian giant’s crude stockpiles were at about 966 million barrels on Sept. 5, the lowest since September 2020, although still around 100 million barrels above pre-pandemic levels, according to Kayrros. Another satellite tracker, Ursa Space Systems, which uses a slightly different methodology, estimates inventories are near the smallest since June 2020.

Chinese inventories were mostly depleted by domestic and international traders who had supplied local independent refiners, according to Sengyick Tee, an analyst at Beijing-based SIA Energy. The private refiners, known as teapots, account for about a quarter of China’s oil-processing capacity.

“China will have to buy crude soon,” analysts Amrita Sen and Yuntao Liu at Energy Aspects Ltd. wrote in a Sept. 9 note. “This is playing out now.”

(Add analyst comment in penultimate paragraph.)

[grupo] 14/9/2021 09:34

Upcoming events

2021 Half Year Results 15 Sep 2021

[grupo] 14/9/2021 09:34

ig.com uk


When will Tullow Oil report its next results?


Tullow Oil (LSE: TLW), the UK-listed multinational oil and gas exploration company is set to report its latest set of interim results on 15 September 2021.


For shareholders, 2021 has been a constructive year, with the Tullow Oil share price rising 45.95% since January 1.

This comes as oil prices have rebounded firmly over the last nine months – with both Brent and WTI, at the time of writing, trading confidently above the US$70 per barrel mark. That’s a stark contrast to 2020, which saw oil turn negative for the first time in its history.

Despite trading well off the low set in March 2020, at Tullow's last traded price of 42.02p per share, the stock remains well off its 5-year high.

The analyst outlook

Despite investors piling into the stock in 2021, the sell-side remains mixed on Tullow, with the stock commanding a consensus price target of 34.50p per share, according to MarketBeat, implying downside potential from current levels. That view is made up of 2 Hold ratings and 2 Sell ratings.

Sell-side coverage has dried up on Tullow over the last year: one year ago the stock, while still commanding a Hold rating, boasted a consensus made up of 4 Buy recommendations, 9 Hold recommendations, and 2 Sell recommendations. The consensus price target also stood at a more bullish 58.36p.


Trade Tullow and over 16,000 international shares from zero commission with us, the UK’s No.1 trading provider.* Learn more about trading shares with us, or open an account to get started today.

*Based on revenue excluding FX (published financial statements, June 2020)
July trading statement revisited

While the oil and gas exploration company is yet to release its official interim results, a trading statement released on 14 July by the company provides colour to how those results may play out.

For one, the company provided 1H FY21 oil production figures, noting that total oil production averaged 61.2 thousand barrels of oil per day, during the first-half of fiscal 2021. The company also provided updated full-year, FY21 oil production guidance, saying it expected to produce between 55-61 thousand barrels of oil per day.

Commenting on that trading statement – Tullow CEO – Rahul Dhir, said:

‘I am pleased to report that Tullow has made excellent operational and financial progress in the first half of 2021. Our producing fields in West Africa are performing well and we have successfully started our drilling programme in Ghana.’

‘Tullow now has a strong financial footing and we are making very good progress in delivering on our highly cash generative business plan and continuing to reduce our debt,’ Mr Dhir continued.

Elsewhere, management said they expected H1 revenue to come in at ~US$700 million, while H1 operating cashflow was guided to come in at ~US$200 million.

The company also provided some other key full-year guidance revisions as part of that July release, which included the following highlights:

Full-year CAPEX is expected to come in at US$250 million, lower than previously guided

Full-year operating cashflow is expected to reach ~US$600 million, assuming oil prices remain at US$60 per barrel across the rest of FY21

Full-year cash financing costs are expected to hit US$290 million

[waldron] 14/9/2021 07:41

European markets set for tepid open as investors await U.S. inflation data

Published Tue, Sep 14 202112:57 AM EDT

Elliot Smith
@ElliotSmithCNBC


Key Points

U.S. consumer price index readings for August are due at 1:30 p.m. London time, and are expected to show inflation stateside continuing to run hot.

European Central Bank policymaker Isabel Schnabel said on Monday that the ECB is ready to act if inflation does not ease as soon as next year, as currently expected.

LONDON — European markets are heading for a muted open on Tuesday as global investors await inflation data from the U.S., which could inform the Federal Reserve’s timing for tapering its monetary stimulus.

Britain’s FTSE 100 is seen around 4 points higher at 7,072, Germany’s DAX is expected to add around 34 points to 15,735 and France’s CAC 40 is set to climb around 10 points to 6,687, according to IG data.

[thommie] 13/9/2021 20:19

looks like shorts are closing now before results after they drove down the share price sucessful to 40p. lets see if the usual traders stop a stable upwards trend after a hopefully good update on wednesday.I hope they publish their plans for further development and something positive about kenya. but I fear kenya wont be solved soon...

[fizzmiss] 13/9/2021 16:00

They are mocking me. I need to find a thicker tin foil.

Let me try something.....

I did not really sell; I bought more!


Wow, it fell back a little; the Mysterons are sure watching me and mocking, mocking everything I say.

[xxnjr] 13/9/2021 15:57

fizz. LoL!

Always moans about the shorters driving the price down.
Always sells when the price goes up.
What does that tell you? But anyway; since you have become part of the furniture here, good luck to you too :)

[fizzmiss] 13/9/2021 15:41

Did you see how the share price shot up when I announced I had sold?

The Mysterons are up to dirty tricks.

[fizzmiss] 13/9/2021 15:06

Good luck, will be back at the right price.

Simply nothing more than a trading stock.

[mcsean2164] 13/9/2021 14:12

Bad time to sell with aluminium plating completed on our house. Back to 50p soon😀

[fizzmiss] 13/9/2021 14:00

Had enough of this share price manipulating corruption. SOLD!

[fizzmiss] 13/9/2021 12:53

Hit a forcefield at 42 for the second time and bounced off.

[fizzmiss] 13/9/2021 11:00

The sewer rat shorters assisted by the MM, sure are attacking from all sides, she can't take it, Captain.

Every time Warp speed is generated; these parasites turn on the retractor beam.


Wowwwwwwwwwwww, these scum could actually manipulate this into the red by end of close?

Oil is flying at over $74, what's really going on here????? Very scary how much control these scum have to be able to manipulate the share price lower with such ease.


How blatantly corrupt can you get!

[bootycall] 13/9/2021 10:06

So xxnjr .. you must have a friend that reads rig zone :) The shorters are about to get creamed beyond all existence. Couldn’t happen to a nicer bunch .

[mcsean2164] 13/9/2021 09:18

Thanks fizzmiss, aluminium layer increased but Borgnine is still exerting a terrible force over share price

Need an interplanetary FSA!!!!!!!

HOW LONG CAN THEY ALLOW THE GAMMA QUADRANT ALIEN, ERNEST, TO INFLUENCE THE SHARE PRICE?????

[xxnjr] 13/9/2021 09:16

thommie - impeccable of course ;-) The 2nd rig, assuming they firm up the contract, suggests an FID on Jubilee SE might be in the wings. JSE is probably 2 to 4 wells + associated sub sea infrastructure.

The next tanker is lining up to offload. Will take about 48 hrs to load. Putting us back on a 12 day cycle which is conducive of 78K to 80K.

[waldron] 13/9/2021 07:56

European markets set for tepid start to the new trading week

Published Mon, Sep 13 20211:07 AM EDT

CNBC

Holly Ellyatt
@HollyEllyatt


Key Points

European stocks are expected to open flat to lower on Monday, with investors continuing to weigh up the European Central Bank’s latest policy decision.

London’s FTSE is seen opening 4 points lower at 7,025, Germany’s DAX 15 points lower at 15,595, France’s CAC 40 down 15 points at 6,649 and Italy’s FTSE MIB 25 points lower at 25,647, according to IG.

[fizzmiss] 13/9/2021 06:54

Oil half a $ up and rising, If the bent MM doesn't manipulate the share price yet again today, we 'SHOULD' see a good rise in the share price.

[fizzmiss] 12/9/2021 07:42

hxxps://oilprice.com/Energy/Crude-Oil/Robust-Gasoline-Consumption-Fuels-Record-High-US-Oil-Demand.html