North Sea Oil industry - Page 5

whitevanman · 22nd December 2014, 19:14

Quote:

Originally Posted by Anthony & Maricel

The only way the oil price will start to go back up, is if OPEC cuts its production of oil. OPEC decided not to cut its oil production in its last meeting, they are playing the waiting game to see if the market will settle down. If the market does not settle down, then at the next meeting they will most likely cut oil production.

Agree with all your other bits except this one, OPEC playing a waiting game - really, Looks likely they have other motives or other incentives above money in play at the moment if they didn't they would have cut supply already..

I firmly believe that in this instance it isn't all about the money or the oil..I think they see it as the perfect opportunity to kick Putin in the nuts, whatever sanctions there are from the rest of us wouldn't be enough but put together with a collapse of the oil price it could well mean curtains and not the iron ones...

James.uk · 23rd December 2014, 03:12

I haven't done any research about the Arne oilfield, I am just telling people what I saw and heard as kid (through to my mid thirties) living less than a mile from the site, albeit with a narrow tidal channel of about 1/2 a mile between us (Hamworthy) and Arne.

I have seen the huge Oil/gas refineries on the North shore of the river Mersey near Liverpool, and there was none of that on Arne, just some small ish nodding donkeys back then...

I/we (the locals) used to explore the North shores of the harbour area pretty extensively when out hunting rabbits, wood pigeons, geese, ducks, pheasants, etc etc, (for food, not for fun) so we knew the area pretty well...

...

Borg Warner · 23rd December 2014, 10:02

Interesting read in the New Scientist from earlier this year.

http://www.newscientist.com/article/...ml#.VJlKIdZsBg

Anthony & Maricel · 23rd December 2014, 11:32

Here are three very good articles about what is really going on in the oil market, it is more commercial than political. OPEC are flooding the market with oil, this is to force the price down. This is to put more expensive oil producers out of business, in other words they are doing it to regain market share they have lost. Ie they are trying to force oil fields out of business, because under the artificially high oil price it was more commercially viable to extract oil from those areas and now it is not.

Pay attention to what the Saudi oil minister said at the bottom of the first article dated the 18th Dec, the second and third article is from yesterday where the oil price rose slightly.

https://uk.finance.yahoo.com/news/no...193058454.html

http://www.bbc.co.uk/news/business-30577381

https://uk.finance.yahoo.com/news/ku...050023198.html

Anthony & Maricel · 23rd December 2014, 11:38

Quote:

Originally Posted by whitevanman

Agree with all your other bits except this one, OPEC playing a waiting game - really, Looks likely they have other motives or other incentives above money in play at the moment if they didn't they would have cut supply already..

I firmly believe that in this instance it isn't all about the money or the oil..I think they see it as the perfect opportunity to kick Putin in the nuts, whatever sanctions there are from the rest of us wouldn't be enough but put together with a collapse of the oil price it could well mean curtains and not the iron ones...

I respect your view Steve, it is one of two possible scenarios that could be or is being played out at the moment. Though I think this is far more a commercial decision on the part of OPEC to regain market share than a political one.

Anthony & Maricel · 23rd December 2014, 12:08

OPEC are very concerned about the fact that the US may lift it's exporting ban on oil. The US has ramped up its shale oil production to such an extent, that if they lift the ban OPEC will lose out as more oil is put into the market.

James.uk · 23rd December 2014, 19:46

If we ignore everything we have read, seen, or heard, and just use logic, can we go on pumping chemicals and gasses into the atmosphere at the ever increasing rate that we do with impunity forever? ??? ????? I seriously doubt it.....

...

Athorpe · 23rd December 2014, 22:10

Quote:

Originally Posted by James.uk

If we ignore everything we have read, seen, or heard, and just use logic, can we go on pumping chemicals and gasses into the atmosphere at the ever increasing rate that we do with impunity forever? ??? ????? I seriously doubt it.....

...

Do we want to go without the day to day things we take for granted ....

Ask anyone your question alone, the answer will be No, but then ask them mine ... The answer to that will also be No , and those two don't add up

Engineering is slowly helping, but making things more efficient, but we keep breeding, making the problem worse.
We keep wanting more,
And worst of all we believe all the green rubbish and shoot ourselves in the foot to satisfy the greens in the short term, rather than looking at the long term. Wind farms, elective vehicles, lots of gas fired power plants to replace coal - but if you look into it they rarely achieve the claimed performance, in the end probably worse than coal ever was - while the green policy's slowly destroy what industry this country has left

23rd December 2014, 10:02	#43
Borg Warner I really should get out more....... None Join Date: Feb 2010 Location: Suffolk Posts: 2,579 Thanks: 494 Thanked 657 Times in 402 Posts	Crisis! What crisis? Interesting read in the New Scientist from earlier this year. http://www.newscientist.com/article/...ml#.VJlKIdZsBg

23rd December 2014, 11:32	#44
Anthony & Maricel This is my second home Rover 75 Connoisseur 1.8L pre production S573 AOX Vin 001493 Feb 1999 Join Date: Mar 2011 Location: Leicester Posts: 5,145 Thanks: 642 Thanked 318 Times in 259 Posts	Here are three very good articles about what is really going on in the oil market, it is more commercial than political. OPEC are flooding the market with oil, this is to force the price down. This is to put more expensive oil producers out of business, in other words they are doing it to regain market share they have lost. Ie they are trying to force oil fields out of business, because under the artificially high oil price it was more commercially viable to extract oil from those areas and now it is not. Pay attention to what the Saudi oil minister said at the bottom of the first article dated the 18th Dec, the second and third article is from yesterday where the oil price rose slightly. https://uk.finance.yahoo.com/news/no...193058454.html http://www.bbc.co.uk/news/business-30577381 https://uk.finance.yahoo.com/news/ku...050023198.html Last edited by Anthony & Maricel; 23rd December 2014 at 11:50..

23rd December 2014, 12:08	#46
Anthony & Maricel This is my second home Rover 75 Connoisseur 1.8L pre production S573 AOX Vin 001493 Feb 1999 Join Date: Mar 2011 Location: Leicester Posts: 5,145 Thanks: 642 Thanked 318 Times in 259 Posts	OPEC are very concerned about the fact that the US may lift it's exporting ban on oil. The US has ramped up its shale oil production to such an extent, that if they lift the ban OPEC will lose out as more oil is put into the market. Last edited by Anthony & Maricel; 23rd December 2014 at 12:20..

23rd December 2014, 03:12	#42
James.uk Passed Away 2002 Pale Blue. Rover 75 CDTi Connoisseur auto. 170K miles Join Date: Dec 2008 Location: Near the M67. Posts: 14,509 Thanks: 199 Thanked 585 Times in 397 Posts	I haven't done any research about the Arne oilfield, I am just telling people what I saw and heard as kid (through to my mid thirties) living less than a mile from the site, albeit with a narrow tidal channel of about 1/2 a mile between us (Hamworthy) and Arne. I have seen the huge Oil/gas refineries on the North shore of the river Mersey near Liverpool, and there was none of that on Arne, just some small ish nodding donkeys back then... I/we (the locals) used to explore the North shores of the harbour area pretty extensively when out hunting rabbits, wood pigeons, geese, ducks, pheasants, etc etc, (for food, not for fun) so we knew the area pretty well... ...

23rd December 2014, 19:46	#47
James.uk Passed Away 2002 Pale Blue. Rover 75 CDTi Connoisseur auto. 170K miles Join Date: Dec 2008 Location: Near the M67. Posts: 14,509 Thanks: 199 Thanked 585 Times in 397 Posts	If we ignore everything we have read, seen, or heard, and just use logic, can we go on pumping chemicals and gasses into the atmosphere at the ever increasing rate that we do with impunity forever? ??? ????? I seriously doubt it..... ...