Opec Cuts Might Be Coming

[j j m 6,625]

theres a few on our estate got lecy cars

[Nik_B 3,791]

https://www.ft.com/content/2c1f71c6-2ef7-11e6-bf8d-26294ad519fc

 

Which means they need to start building power stations yesterday! The more we use electricity the more we have to build and the nimbys get their knickers in a twist every time they talk about building on. Also what are we going to fuel these new power stations? Coal is out of fashion, everyone freaks out at Nuclear, Green energy is a farce and will never supply a significant proportion of the grid so that leaves gas which is the cleanest form of power and is a byproduct of drilling for oil

[C556 351]

Now a Libyan warlord's been deposed they expect to get another 600 000 barrels a day pumping from Libya.

[MIK 4,763]

the down turn effects everyone right from the big companys to the hookers on the street as there is not the money going about ...I am in Thailand at the moment running a base out here I am not going to say what my daily bonus is but I am out here basically working for just my salary its just what you have to do to keep your job lets just say I am going to lose out on over $25k for this hitch .

Been in the industry over 20 years and worked in over 30 countries and I have never seen it as bad as this ....a lot of lads will never come back to the industry as they have set up little business's there will be a load of experience lost and a lot of lads jumping up the ladder before their time so expect a lot of fuk ups ...which will keep me busy as my job is to fix fuk ups

In my area its really bad I know plenty of lads that have not worked for near 2 years and have lost their houses cars the lot ....

Edited December 2, 2016 by MIK

[Born Hunter 17,960]

Now a Libyan warlord's been deposed they expect to get another 600 000 barrels a day pumping from Libya.

 

Pretty sure the Libyans are not part of the OPEC agreed reduction, along with the Iranians and the Nigerians. Indonesia aren't either after suspending their membership.

 

The market surplus is 2-300k bpd and the expected cuts from OPEC and a few other players is about 1.8m bpd. There's a fair margin for leeway there I think. I think there will be a lot of shale suddenly come on line keeping the price suppressed though.

 

And don't forget global demand continues to increase. We were seeing a production surplus of over 1.5m bpd this time last year. That has closed significantly due to demand increasing faster than production.

Edited December 2, 2016 by Born Hunter

[Nik_B 3,791]

Now a Libyan warlord's been deposed they expect to get another 600 000 barrels a day pumping from Libya.

 

I think it will take some time for Libya to get back to normal though, it is a wreck. I used to work there and it sounds like the infrastructure is destroyed and I doubt the service and oil companies are clamoring to get back in there while it's still unstable.

[Nik_B 3,791]

 

Now a Libyan warlord's been deposed they expect to get another 600 000 barrels a day pumping from Libya.

 

Pretty sure the Libyans are not part of the OPEC agreed reduction, along with the Iranians and the Nigerians. Indonesia aren't either after suspending their membership.

 

The market surplus is 2-300k bpd and the expected cuts from OPEC and a few other players is about 1.8m bpd. There's a fair margin for leeway there I think. I think there will be a lot of shale suddenly come on line keeping the price suppressed though.

 

And don't forget global demand continues to increase. We were seeing a production surplus of over 1.5m bpd this time last year. That has closed significantly due to demand increasing faster than production.

 

 

Yep there are a lot of drilled but uncompleted wells that can be fracked and produced from. The oil companies just wait for prices to rise enough for them to lock in their future production. In most places $50 bbl is enough due to the 'efficiency' savings from gutting prices. We're seeing a slight increase in activity but my got they are all getting their pound of flesh from us.

 

The major oil companies cut back exploration and investment so there might be a major investment crunch in 2019 or 2020 if prices aren't manipulated up to $60 bbl. It takes a lot of time to develop fields although the small shale companies are the wild card and can switch it on faster than anyone else.

[kanny 21,753]

Another nail in the coffin? https://www.google.co.uk/amp/s/amp.theguardian.com/environment/2016/dec/02/after-60-years-is-nuclear-fusion-finally-poised-to-deliver?client=ms-android-sonymobile

Edited December 2, 2016 by kanny

[Nik_B 3,791]

Another nail in the coffin? https://www.google.co.uk/amp/s/amp.theguardian.com/environment/2016/dec/02/after-60-years-is-nuclear-fusion-finally-poised-to-deliver?client=ms-android-sonymobile

 

Says Damian Carrington 'head of environment at the Guardian' lol that's blown his credentials out of the water

[WILF 51,070]

the down turn effects everyone right from the big companys to the hookers on the street as there is not the money going about ...I am in Thailand at the moment running a base out here I am not going to say what my daily bonus is but I am out here basically working for just my salary its just what you have to do to keep your job lets just say I am going to lose out on over $25k for this hitch .

Been in the industry over 20 years and worked in over 30 countries and I have never seen it as bad as this ....a lot of lads will never come back to the industry as they have set up little business's there will be a load of experience lost and a lot of lads jumping up the ladder before their time so expect a lot of fuk ups ...which will keep me busy as my job is to fix fuk ups

In my area its really bad I know plenty of lads that have not worked for near 2 years and have lost their houses cars the lot ....

There's footballers that would like to be on your money fanny boy ! Lol

[Nik_B 3,791]

the down turn effects everyone right from the big companys to the hookers on the street as there is not the money going about ...I am in Thailand at the moment running a base out here I am not going to say what my daily bonus is but I am out here basically working for just my salary its just what you have to do to keep your job lets just say I am going to lose out on over $25k for this hitch .

Been in the industry over 20 years and worked in over 30 countries and I have never seen it as bad as this ....a lot of lads will never come back to the industry as they have set up little business's there will be a load of experience lost and a lot of lads jumping up the ladder before their time so expect a lot of fuk ups ...which will keep me busy as my job is to fix fuk ups

In my area its really bad I know plenty of lads that have not worked for near 2 years and have lost their houses cars the lot ....

 

What do you do and what are you describing as a hitch, I take it it's not a month? Are you doing very long hitches or something?

[Nik_B 3,791]

P.s it's always works like this though doesn't it, by the time human remains have worked through the redundancies the industry is on the upturn but they're not allowed to recruit. There will be good wages again by the end of next year for sure as there is going to be a massive shortfall of experienced people.

[C556 351]

Turkish Stream pipeline gets the go ahead:

http://tass.com/economy/916303

[MIK 4,763]

 

the down turn effects everyone right from the big companys to the hookers on the street as there is not the money going about ...I am in Thailand at the moment running a base out here I am not going to say what my daily bonus is but I am out here basically working for just my salary its just what you have to do to keep your job lets just say I am going to lose out on over $25k for this hitch .

Been in the industry over 20 years and worked in over 30 countries and I have never seen it as bad as this ....a lot of lads will never come back to the industry as they have set up little business's there will be a load of experience lost and a lot of lads jumping up the ladder before their time so expect a lot of fuk ups ...which will keep me busy as my job is to fix fuk ups

In my area its really bad I know plenty of lads that have not worked for near 2 years and have lost their houses cars the lot ....

 

What do you do and what are you describing as a hitch, I take it it's not a month? Are you doing very long hitches or something?

 

My title is Senior Thru-Tubing Field Engineer Supervisor.Intervention Technology Center Singapore ..or Fishing Hand a hitch can be anything from a couple of days to 8 weeks ...this current hitch is 5 weeks ....everyone can speculate how they want when this is going to end or how its going to turn out but nobody really knows ....but one thing I can see happening is when it is all over and you are good at your job and have plenty of experience you will be able to pick and choose your job ...its just riding out the storm until they days come

[MIK 4,763]

 

the down turn effects everyone right from the big companys to the hookers on the street as there is not the money going about ...I am in Thailand at the moment running a base out here I am not going to say what my daily bonus is but I am out here basically working for just my salary its just what you have to do to keep your job lets just say I am going to lose out on over $25k for this hitch .

Been in the industry over 20 years and worked in over 30 countries and I have never seen it as bad as this ....a lot of lads will never come back to the industry as they have set up little business's there will be a load of experience lost and a lot of lads jumping up the ladder before their time so expect a lot of fuk ups ...which will keep me busy as my job is to fix fuk ups

In my area its really bad I know plenty of lads that have not worked for near 2 years and have lost their houses cars the lot ....

There's footballers that would like to be on your money fanny boy ! Lol

 

I am struggling mate trying to run 3 cars a big house and a 1k a week cocaine and hooker habit ....its nae easy