Diversification! Oil prices falling!

[RASC]

Zoom Rader you still have a job with oil this low?

Yep at wuk now. Companies still making a killing with low prices.

Most companies used the oil price to get rid of non productive workers and shake off tie up contracts with service companies. Its win win for them. Shell oil win big time since they brought up smaller producers.

At present is cost North sea producers around $16US to process the oil from sea to land terminals which they sell for at the going price $40US, do the maths they still making a killing.

Did you ever really go to Nigeria recently? Have you seen EKO Atlantic?

[zoom rader]

Zoom Rader you still have a job with oil this low?

Yep at wuk now. Companies still making a killing with low prices.

Most companies used the oil price to get rid of non productive workers and shake off tie up contracts with service companies. Its win win for them. Shell oil win big time since they brought up smaller producers.

At present is cost North sea producers around $16US to process the oil from sea to land terminals which they sell for at the going price $40US, do the maths they still making a killing.

Did you ever really go to Nigeria recently? Have you seen EKO Atlantic?

Was there for 14 days last April on Niger Delta OPL ,( Floating production ship) ERHA.
I spend about two days on land in Lagos and then off on the ship.
I have heard of EKO but never seen it, suppose tobe a mini version of Dubia.

[nervewrecker]

Zoom and rasc, bmt, hommuh allyuh getting paid to post this shat here?
I see pnm pay my sister and give she a T-shirt. Wanna know homuh to ask for when I barge in there demanding f**king $$$

Sent from my Nexus 7 using Tapatalk

[RASC]

Please pee and go in your bed, brush your teeth also. Thanks.

[janfar]

Price of oil low but we still have new projects kicking off in Argentina, Algeria, Mauritania, Cyprus and if things go as planned, Iran. Right now Saudi Arabia on triple shift trying to keep up with Aramco's new plan. Its the US drillers and high cost wells going to suffer... Trinidad offshore are mostly high cost wells.

[Val]

yea brown fields in some trouble

[Redman]

Price of oil low but we still have new projects kicking off in Argentina, Algeria, Mauritania, Cyprus and if things go as planned, Iran. Right now Saudi Arabia on triple shift trying to keep up with Aramco's new plan. Its the US drillers and high cost wells going to suffer... Trinidad offshore are mostly high cost wells.

The cure for low prices will always be ..low prices.

Fact is that we in the 20s because OPEC has chosen to stop supporting prices...by keeping production up.

purportedly a strategy to kill the US shale business before it takes hold.
Some numbers are showing that oil production out of the shale is falling-supply destruction due to low prices.

http://oilprice.com/Energy/Crude-Oil/Oi ... ining.html

If at any point in time the decision to cut production is made ....we will see much higher prices take hold.

As an illustration:

At this point at a given production volume...revenue is down 80%.

What would happen if OPEC decides to cut oil production by 10%???
They produce about 30M a day?
What does that do to the demand supply eq
90% production at$ 50 beats 100% production at $20

So we are in the middle of an created supply glut..yet we believe that its permanent....WTI over 100 was permanent too.

[ingalook]

It would have been nice if we still had a Sugar industry and all its downstream applications

[Habit7]

It would have been nice if we still had a Sugar industry and all its downstream applications

It would also be nice if there was a market for sugar even as Europe told us "hard luck, we don't want any more, hold a couple million to diversify away from that"

[ingalook]

We only need to produce enough sugar for our own use

E85 (look into that)
Use in confections and Distilling (incredibly lucrative)
Sugar Cane juice has less calories than a glass of orange juice and is now the "Miracle Health Drink" fitness experts are raving about

Plus it just doesn't feel right to go to the supermarket and buy a bag of "Demerara Gold" when I need Brown Sugar

[Habit7]

Well globalisation makes it cheaper to import from our CARICOM neighbour Guyana than produce on our own.

E85 can only work in flexible fuel vehicles, E10 however can work in any gasolene vehicle.

My experience with E85 in the US was cheaper gas normal unleaded, but it burns like a fuse, you always have to refuel. After a while I Just got fed up and use normal unleaded and felt the difference in power and efficiency.

We struggling to get workers to flip burgers you think we will get workers to cut cane?

[ingalook]

Globalization does not make it cheaper to import - WE make it cheaper to import

You are saying we shouldn't grow cane because our people are lazy??? By your logic we shouldn't diversify ANYTHING.

I do agree with you about the work ethic of our people, it is a problem exacerbated by our education system

[Habit7]

We bought into globalization which makes it cheaper to import sugar rather that produce it here, conversely for the few if only Guyana product on our shelves, go Guyana and see 60% of their shelves fill with TT manufactured products.

I never said anyone is lazy, agriculture is not attractive to labourers because there are equal and better paying jobs under better conditions. The labourer force required to operate a sugar industry no longer exists, ppl are wealthier.

[ingalook]

Why in 2015 must sugar be cut by labourers? Sugar production is not feasible only because we lack the political will to make it work.

Agriculture has NEVER been a priority for any government, always a big talk in every budget about agriculture, then they get to the allocation, and without fail the smallest piece of the pie always goes to agriculture.

THEN we striving for universal tertiary education and wondering why we have no one to flip our burgers or pick up our garbage

[Habit7]

#firstworldproblems

[ingalook]

Our way of life is a lie, it is based on unlimited oil supply and constant demand... One day de bottom ah go drop out

[zoom rader]

Our way of life is a lie, it is based on unlimited oil supply and constant demand... One day de bottom ah go drop out

728 million barrels in trini reserves bro. Plenty wells juss laying there capped.

Trini only pumps about 120000bpd, Where I work they pump 200000bdp from one rig.

[shake d livin wake d dead]

all that amount in reserves and it aint benefiting the country at all...As it is people heading for some serious trouble...come sept 8th it does not matter who wins

Failure by several administrations to find another suitable source of revenue will always affect us.

And people laugh at agriculture................

[ingalook]

Our way of life is a lie, it is based on unlimited oil supply and constant demand... One day de bottom ah go drop out

728 million barrels in trini reserves bro. Plenty wells juss laying there capped.

Trini only pumps about 120000bpd, Where I work they pump 200000bdp from one rig.

You are right - God iz ah Trini - no need to diversify the economy!

[sMASH]

Trinidad need to sell sumting on a regular basis. What does Trinidad have, or can develop, to sell to other countries?

[Cooloh]

Price of oil low but we still have new projects kicking off in Argentina, Algeria, Mauritania, Cyprus and if things go as planned, Iran. Right now Saudi Arabia on triple shift trying to keep up with Aramco's new plan. Its the US drillers and high cost wells going to suffer... Trinidad offshore are mostly high cost wells.

Correct, Argentina is busier than ever at the moment. We have expats rotating 42 x 21 because of the amount of drilling going on. When oil price low a lot of companies use the time (and supposed reasoning) to get rid of some stragglers who don't pull their weight. Unfortunately a lot of good folks get cut as well....

[janfar]

42-21. Schlum? I might be down there soon. They move BH to 42-28 and the African region to 42-14. Alot of people left because of that.

TTD is being resilient though. Waiting to see when it climbs to 7-1.

[Cooloh]

42-21. Schlum? I might be down there soon. They move BH to 42-28 and the African region to 42-14. Alot of people left because of that.

TTD is being resilient though. Waiting to see when it climbs to 7-1.

HLB... Baroid working 28-14 All others working 42-21 Hopefully change to 35-21 next month. Real men complaining... I just happy to be employed with all these cuts going on.
Rumor is that if prices drop below 35USD more cuts coming worldwide

[janfar]

Well the way things going we might see 35 by Friday. HLB- Sperry? How the merger feels over there. I'm Inteq BTW.

BH made some deep cuts in inventory, assets and personel. They stated that they are prepared for 30. Let see how the next few weeks pan out.

[Cooloh]

Yeah Sperry... They keeping extremely tight lipped about the BHI deal. U know how rumours spread around, they say GE is going to buy us. We've had a heap of org changes at the top and cuts around the U.S. especially. Basically the same on this side, we just going about business as usual until we hear something official. Most of us looking forward to a color change.

Good luck when the deal is complete though! U gonna need it

[janfar]

Hahah... that bad... We are expecting some changes in our department but not for the first few years. I should be out by then, hopefully.

[Cooloh]

Oil prices changing rapidly, so anything can happen....

[shake d livin wake d dead]

Trinidad need to sell sumting on a regular basis. What does Trinidad have, or can develop, to sell to other countries?

Trinidad's cocoa is regarded as one of the finest throughout the world...simply pump more money into that sector and see what happens......so many international chocolate manufacturers use our cocoa.

this is just one simple idea

[zoom rader]

Trinidad need to sell sumting on a regular basis. What does Trinidad have, or can develop, to sell to other countries?

Trinidad's cocoa is regarded as one of the finest throughout the world...simply pump more money into that sector and see what happens......so many international chocolate manufacturers use our cocoa.

this is just one simple idea

Yes but farmers get ripped off from the middle men.

[Dizzy28]

Trinidad need to sell sumting on a regular basis. What does Trinidad have, or can develop, to sell to other countries?

Trinidad's cocoa is regarded as one of the finest throughout the world...simply pump more money into that sector and see what happens......so many international chocolate manufacturers use our cocoa.

this is just one simple idea

Yes but farmers get ripped off from the middle men.

There is no middle men anymore. The Cocoa and Coffee board has been disbanded and farmers can sell on the open market if they choose too.

Clause 9 of the Finance Bill 2014 - The Cocoa and Coffee Industry Act, Chap. 64:20 would be repealed