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lse:sle

#942

#943

https://sweetcrudereports.com/nnpc-raises-january-prices-for-bonny-light-qua-iboe/


#944

I see eli akaso is underway to bonny island Nigeria…takes around 4 weeks.hurrah.

https://www.myshiptracking.com/vessels/eli-akaso-mmsi-370570000-imo-0

The current position of ELI AKASO is in Malacca Strait with coordinates 1.32542° / 103.29037° as reported on 2019-12-21 06:01 by AIS. The vessel’s current speed is 11.6 Knots and is heading at the port of BONNY.


#945

#946

The September 2018 to September 2019 crude oil and gas transactions indicated that crude oil and gas worth $5.63 billion was exported.


#947

https://sweetcrudereports.com/dpr-promises-3mb-d-oil-production-by-2020/


#948

https://sweetcrudereports.com/oil-steadies-near-66-as-russia-touts-easing-opec-output/


#949

Could the fso lower production costs also!.

https://sweetcrudereports.com/how-to-cut-down-oil-gas-production-cost-ncdmb/


#950

#951

https://sweetcrudereports.com/oil-extends-gains-on-u-s-inventory-decline-trade-deal-optimism/


#952

https://sweetcrudereports.com/oil-rises-to-three-month-high-on-upbeat-data-middle-east-tension/


#953

#954

https://sweetcrudereports.com/pib-to-become-law-by-mid-2020/


#955

#956

I think USA Vs Iran plus proxies fighting each other look all set to keep the oil price higher than anything OPEC can cobble together in this U.S. election year.


#957

Your probably right eadwig as seen here!..


#958

#959

yes, there is bound to be tit-for-tat and could go on for a long while - and might involve tankers, Straights of Hormuz and/or Saudi refining. All of that helps USA though, so it might not involve oil at all.

The risk it will will keep prices elevated though.


#960

Wow!

$200 billion in shale debt due in next four years. Roughly $200 billion in North American oil and gas debt will mature in the next four years, according to the Wall Street Journal, which includes $41 billion due this year. More than 200 companies have already filed for bankruptcy since 2015, but that number will continue to rise as drillers struggle amid the crushing weight of debt. The huge obligations will force drillers to cut spending, potentially bringing the shale boom to a halt.


#961

It wont though because oil prices will rocket if shale companies stop producing. Victims of their own success. When I first started investing in US frackers they were talking about ‘$4 per BTU for gas to break-even so there was plenty of leeway’. Nat gas hasn’t seen $3 in US for years and $4 is a distant memory. Closed at $2.12 per BTU (British Thermal Unit) last night!

So, first lot of shale plays that went out of business were those that hadn’t found oil as well as gas. Now they’re struggling even though most should be ok with anything like $60 for West Texas crude … but, its looking like a lot of them made some very bad loans with hindsight. Don’t forget many will have loans from pre-financial crisis …

They could drag a lot of banks down too if things get really bad, so I’m sure the banks are arranging re-financing deals like mad. Even so that 200 number is expected to grow as I posted here a few weeks ago. Some quality names on the brink too.

The weekly rig count is nearly half of what it was when it peaked at well over 1400 (from memory, oil and gas) in 2014. 796 was the number today, with 670 of those oil rigs. Efficiency per rig has improved a lot in those 5 years though.