shareordie
31 Jan 2019
Results I read that rds said they were going to keep a tight hold on the purse strings even though the price of oil and gas was up and profits were good. So maybe that was what is driving the price up.
In_the_dark_yet_again
31 Jan 2019
Results LSE:RDSB [link] Solid numbers, difficult to fault them but not unexpected so slightly surprised by the market reaction. Maybe just relief that it is as they had suggested with no elephants hiding in the closet. Felling very positive here at the moment, maybe not all the way back to £28plus (GBP has rallied a bit and this will always be a $ stock at heart), Regards, ITDYA, thinking £25 maybe £26 I might cash in a few chips - not all, but a few.
J_Westlock
02 Jan 2019
O/T - LK Hyman - Alive and Well Yee_Wo: On the basis he had an interview with Jardine Matheson in 1970 he must be comfortably in his last '70s today! He’s more likely around 67… rather than late 70s… if he was applying for a graduate traineeship in 1970… but who knows… @Yee_Wo - As I’m sure LK would have said… there’s nothing to stop you writing posts too that you think others might be interested in.
shareordie
02 Jan 2019
O/T - LK Hyman - Alive and Well LK Hyman does seem to be on ft alfaville markets live. But as you say is missed off here and the easy on the eye format is missed too. Folks on here don’t seem to have selected to follow all the companies in there portfolios and they are not selected automatically so we seem to have very little company specific discussions just general market discussion. It’s not the same. And I doubt LK will come back to this shambles. Probably got reported by someone for a post. People seem to get offended so easily, he was the best poster by miles.
Yee_Wo
02 Jan 2019
O/T - LK Hyman - Alive and Well [link] LK Hyman has added comments to the above article. On the basis he had an interview with Jardine Matheson in 1970 he must be comfortably in his last '70s today! Like many others I miss his insights on this and other Bulletin Boards!!
johnlawsonmoorlandminerals2
19 Oct 2018
Nice dollops Lawson 76, I reckon the expansion of renewables has still a long way to go! Certainly Scotland has still lots of places to set up windmills hydro schemes, and Tidal power generators. I think the same will be an appropriate response across much of Western Europe, we have had days in the U.K. when the majority of our power was generated largely from a renewable source. At some stage someone is going to use the surplus electricity, generated from these sources to electrolyse, dilute sulphuric acid to make and store hydrogen which will give us yet another energy resource. I think that fossil fuels will be used more sparingly as these technologies develop.
SaraRacano
18 Oct 2018
Nice dollops I used to follow a guy called Strahan (lastoilshock.com) he published some brilliant maps about past & present production. To him Russia/Saudi/Iran all peaked in the 70´s. Yields have been stable on most Saudi wells since the 90´s but well, well off their 1970´s rates of return. In Iraq, the Russians are there with their fracking technology but the area is so mined it makes things difficult. Also the return yields on investment with fracking type extraction are greatly reduced v´s conventional extraction. Interesting to note that the Saudi´s cannot raise prices too much for fear out of upsetting the U.S. Can the world economy support prices of $200 a barrel? This puts further pressure on frackers & profits.
J_Westlock
18 Oct 2018
Nice dollops SaraRacano: How much of these North Sea “potential†reserves depend on a fracking type extraction process? I’d say most of them… not all; it’s been a common practice in the North Sea for a long time. As Bowman says, one of the challenges is to keep making the process of extracting what you need more efficient. It is amazing what a wasteful process it still is today even with all the technological improvements over the years. Hand in hand with that, are the constant innovations on the Geology side… it is now totally different to when I first went into the industry: far quicker, far more accurate. I don’t think anyone disagrees that we are approaching the end game for oil and gas… but that end game could last several decades. I don’t think the UKCS will last beyond 30 years but it’s a big world out there.
Bowman
18 Oct 2018
Nice dollops SaraRacano: pouring massive amounts of sea water down its oil wells. I wonder if that Washington Post journalist knew a bit too much about Saudi oil reserves? I do not know about sea water, but when I worked in Saudi in 1975 we were constructing a water injection system that drilled wells into subterranean water fields and then injected the water obtained in to the oilfields. The waste gas (usually flared) from an oil well was used to power a compressor that then increased the pressure of the waste gas which was injected into the water field. This gas was then separated from the water and reused, before the water was injected into the oil field. So using water to increase the oil field pressure, and hence increase the amount of oil recovered, has been going on for years and is no secret. The use of sea water would have the advantage of disposing of some of the extra water in the oceans which apparently is resulting from oil use induced global warming. Back in the 1970’ there was a report published called “If present trends continueâ€, which forcast the world running out of oil within a couple of decades. Here we are almost five decades later in a world where oil use has increased by orders of magnitude, but we still apparently have enough oil for a couple of decades more. Improvements in extraction technologies and methods will keep on increasing the amount we can recover from existing reserves. We need to find alternatives to the use of oil not because we are going to run out of the stuff, but more to attempt to reduce the damage that oil use does (plastics, emmissions, etc,).
SaraRacano
18 Oct 2018
Nice dollops "Not sure why you are on about fracking and the UK". Because I think the board have been going in this direction that fracking is the long term answer to BP´s fundamental problems of falling reserves. Also if you go into fracking you´ll soon start to see how much more risk there is to these shares than many people realise. There appear to be many people out of touch with reality about the real goings on in the oil world. You mention North Sea production which costs on average 20x more to extract than conventional well (getting workers to rigs, investing in rig infrastructure etc). How much of these North Sea “potential†reserves depend on a fracking type extraction process? When I was at Kings Hill, last decade there was the odd person involved in Saudi oil production that confirmed Saudi, was pouring massive amounts of sea water down its oil wells. I wonder if that Washington Post journalist knew a bit too much about Saudi oil reserves?
J_Westlock
18 Oct 2018
Nice dollops We are becoming increasingly dependent on the European gas market… that is only going to increase. They source that from a number of other sources (including Russia). I could throw in a few Brexit-related risks to that situation but will leave off for now… it will soon become apparent anyway. So the bulk of our energy will come from whatever we produce ourselves plus whatever we get via Europe. As I said, don’t think for one minute that Nuclear is dead. Wise people will have an element of their portfolio waiting for a resurgence once it is realised that renewable isn’t going to completely do the job (in the UK) plus the risks that the storage of that home-produced energy may not be addressed economically. Not sure why you are on about fracking and the UK… it is a red herring… it will only ever be small and niche in the UK. The geology just isn’t there like the US.
SaraRacano
18 Oct 2018
Nice dollops Who are the UK going to be importing energy from? France, is in the same boat if not worse than the UK, many of France´s nuclear reactors are so old, they are more often than not shut down for maintenance. There was a story last year, that went along the lines that France may not have enough power to get through the winter. They have been importing from the UK. Don´t forget that many politicians are bribed, didn´t the judge who gave the Lancashire, fracking protesters 2 years in jail have heavy links to Centrica (this is one of there ventures???). All I am saying there may be a lot of lies & damn well deception by many of these big hydrocarbon corporations about the true state of their reserves, fracking just comes in a bit handy.
J_Westlock
18 Oct 2018
Nice dollops SaraRacano: The UK cannot even afford Brinkley Point. Where is all the power going to come from? We will be importing almost all of it by 2050… and we will also have commissioned several more nuclear plants by then once the situation is fully recognized of how we are dependent on foreign countries. No doubt there will be improvements in renewable along the way but I remain skeptical of how much they will contribute.
SaraRacano
18 Oct 2018
Nice dollops Some of this appears a miss-mash, OK short & simple but there are very important points. “Belief†or could you really call desperation? Looking at the AMCO flotation & their reserves : How much of these reserves are proven with fracking technology & at what price? BP/Shell are running through their reserves pretty quickly & it´s not be replaced, like/like so fracking comes in handy as a quick fix to boost reserves. Electricity is great but how many new power plants would need to be built? I think just to power cars in theyou Look at Europe´s/U.S. crumbling energy infrastructure. The UK cannot even afford Brinkley Point. Where is all the power going to come from? I wonder how you would feel if the frackers came to a place near yourself? Profit comes before your health?
johnlawsonmoorlandminerals2
17 Oct 2018
Nice dollops Lawson 76, B.P. & Shell are excellent stock to hold, I often recommend them to new investors. as I understand it these 2 companies are paying out the majority of the pensions of many U.K. retirees. Fracking it seems is Ok if carried out in the states but is a blot on the landscape if carried out in the U.K. We are all reaping the benefit of Ineos importing fracked ethene from the U.S.A. but the Scottish government has put a ban on fracking in Scotland. it seems to me yet another case of Nimbyism! As for fracking not being economic, I note that Billiton, admittedly a mining house have sold their fracking operations to B.P. who being a massive oil company have bought these, presumably in the belief that they can earn a few dollars here! Longer term both of the oil majors are investing in electric infrastructure.
