Uk Oil & Gas Share Discussion Threads

[d1nga] 15/4/2020 09:42

Of course it's going to go bust.

My long term target was 0.2p and that was when oil was, N of $45, its going to reach 0.2p by August

It will cease to exist in 9 months.

[iammrweald] 15/4/2020 09:27

Morning 25,guys. With all the 'news' coming out about time, costings to the UK,does anyone feel this could actually go bust? Has more negative than positive's going for it. I believe,now this is just my 'umble, lth's wont be buying villas,Mediterranean apartments or yatchs from their gains.

[25wbh] 15/4/2020 07:29

Good morning all ,Gismo , Rayrac , Hans ,Iam ,and all usual friends

[atino] 14/4/2020 17:17

(Quote - expert & qualified person number 2 😉 👨‍8300; ) Still ‘tough’ times ahead for North Sea firms despite global 10m barrel reduction deal, Prof Kemp says

Alex Kemp, professor of petroleum economics at Aberdeen University, said the new deal, which ended a damaging oil price war between Saudi Arabia and Russia, would be a “relief” to many.

But Prof Kemp warned that many planned North Sea projects will not get the go-ahead at the current Brent crude price.

Brent, the global benchmark, lifted above $33 per barrel at the start of trading on Monday morning, but subsequently slipped to around $31.

The combined hit of the Saudi-Russian dispute and the Covid-19 outbreak saw Brent slide to $22 a barrel last month.

Prof Kemp said: “For prices of $30 or $33 or even $35 that’s very tough in the North Sea while cash flows are down and tax revenues are down.

“The other effect is for companies to postpone investments in new field developments and not all that many of the potential new field developments can go ahead at an investment screening price of $30 to $35 a barrel.”

Sunday night’s agreement — intended to boost oil prices and reduce a global supply glut — saw the biggest oil market output reduction on record of 9.7m barrels per day.

Prof Kemp said the new Opec+ deal represents “a nearly 10% reduction in global production” and is a purposeful move to counter recent low oil prices.

He added: “The agreement will be received by the traders as a signal that Opec+ and other collaborating counties, including the USA, are serious about wanting to reverse the phenomenal price decrease that happened when the price went down to $20 a barrel.

“The initial reaction will be one of relief.”



However, Prof Kemp also cautioned the sector not to view the Opec+ agreement as an instant solution to the supply and demand imbalance – given that some experts calculate current oil demand is down by around 25m barrels a day.

He also pointed out that the cuts of 9.7m barrels per day would only last for an initial two months, before dropping to 7.7m barrels per day for the rest of 2020, and 5.8m barrels per day for a further 16 months.

Also, there will be doubts as to whether all nations adhere to the cuts.

Prof Kemp said: “I think that Saudi Arabia, in particular, will be keen to play its part but it does require the other players as well.

“There will be relief in the market at the moment, but traders are always a bit sceptical about these type of agreements because a number of them have failed in the past.”

[iammrweald] 14/4/2020 12:56

Punters getting in b4 the Saudis and boris call on stevie.

[bobaxe1] 14/4/2020 11:43

Why all the buying!!

[hans christian andersen] 14/4/2020 10:26

Oil tanker out. Not the usual BKP. Could not see any markings to say who it is.

[iammrweald] 14/4/2020 10:07

Bio,he JC, must have ( him and his other ego temm) 50 bb he's started. He has about a dozen on covid on which he talks to himself. Needs sectioning imo.
Think some lth needs to get B&Q to deliver them some flooring and stick it under the share price here! Cripes!

[bionicdog] 14/4/2020 09:55

Very well thanks for asking JC. Can I ask , is there any conspiracy theory that you won't believe?

[johncasey] 14/4/2020 09:07

GREAT NEWS TODAY FOR CADENCE FIVE BAGGER EASY

[johncasey] 14/4/2020 09:06

HOWS THE BRAINWASHED TOOLS TODAY LIKE BIONICDOG?

[iammrweald] 14/4/2020 08:54

But kemche,a word of caution.with the pandemic lockdown,will the House of Saudi representatives and Gov ministers meeting Stevie Boy at the coalface be derailed and therefore push back the magical CPR and end of December '19 move to the FTSE? Fractious times indeed! he he

[kemche] 14/4/2020 08:38

The world will now know that we have assets firmly in the ground which is the important thing.

[kemche] 14/4/2020 08:36

The OPEC agreement should be a positive catalyst to UKOG. As owners of a resource of national and international importance the signature of SS to the accord gives it added credence. The downside of course is that we will have to curtail our daily production by 10%, or precisely 13.6 barrels a day, to help deplete the current glut in the market. But at least we have raised our profile on the world stage as a production giant.

VIVA!!!!!

[iammrweald] 14/4/2020 08:28

Morning guys. Everyone healthy?

[kemche] 14/4/2020 08:26

Morning all decents, but not the horrible despicable ones - Grrrr!!!

Viva!!!