And good afternoon Dr. Jemcek. As I have said before, the oil CEO's have figured out it is much better to sell oil at $100 dollars/barrel than 50. Tamp down production and let the market do the" drilling" for you! Ed
I also added at 7.88. I decided BBEP should be up 1.50 today. I also bought yesterday at 7.09. So I did alright. Can't be greedy! I hope shorts get trashed. ed
I'm about out of patience. When oil turns around definitively I'm out. They need to stop buying companies and pay down debt which they seem to have no intention of doing. Ed
Does Latvia, Lithuania etc. have oil off their coasts? If not Putin might not bother them. I just wonder what country he will invade next? ed
They can't stand an African American president because the guy is an IDIOT! He just happens to be our first African American idiot president. Race has nothing to do with that. It's too bad he is a disgrace and that he is black. Now Ben Carson would be a fine candidate. He just happens to be black. So what? ed
Got the message on trading but I look it as I have 10 options contracts each on SFY and SD that won't ever expire so I'll just hold them. Looking at RIGP. I got stubborn on AWLCF and bought too high and then doubled down to average down and now I'm boxed in. Looking at RIGP but it's on fire today. Ed
Send Marie Harf directly to ISIS and let the negotiations begin! Meanwhile Netanyahoo should tell Iran they can keep their nukes but your oil fields are going to be bombed to oblivion. You decide. Ed
Wait until Israel bombs Iran's oil fields. They can have their "nukes" but forget about fuel for the missiles or their cars. Ed
Statoil "pulling back"? (Reuters) - Norway's Statoil is moving ahead with plans to develop a giant $29 billion oil field, Europe's costliest offshore energy project, expecting to produce some of the world's cheapest oil that will be profitable even after the recent price crash.
Statoil said on Friday it would start the Johan Sverdrup field in the North Sea by 2019 and expected to produce up to 3 billion barrels of oil equivalents (boe) over 50 years, giving Norway's fading oil industry a second life.
The project is expected to break even at under $40 per barrel, giving Statoil a huge margin even after Brent crude plunged to around $60 from over $100 last June.
Once the project is running, operating costs are seen under $5 per barrel.
Sverdrup's first phase, which will develop up to 2.4 billion boe, will cost $15.4 billion, at the top end of the previous estimate range but only marginally ahead of analyst expectation.