.

Another point worth thinking about is that, by the time FOGL starts producing oil (if there is anything to produce) and if there is any stability in IRAQ, then the latter may be producing in large quantities thereby depressing the oil price. Given that the extraction costs/barrel in the FI will be relatively high, this could mean that the margins will be very low. This is a significant risk, which could affect any of the FI oilies.

Likewise, the US will be self sufficient in gas before too long, and so the value of this commodity will be under pressure as well.

though we are already working with the LNG market, we cannot see quite how it will develop - that is to say, it most assuredly will develop and become a significant power source, but quite what track it will follow is very unclear ...... however, it is correct to say that gas prices in usa are currently very depressed though i do not know why

cynic post 1287, no need for bitchyness because as you are well aware i'm a full blooded heterosexual male!!..:D)

As for blackdown, what a stupid desparate looking statement..

GB - ahem! pot? kettle? .... did i allude you to being a liar? ..... if the cap fits etc! .... and for all we know you could be an ageing ladyboy; after all, you might be lying when denying

In reply to blackdown's limp attempt at negativity.

Crude oil prices denominated in euros surged above the levels of 2008.
The surge in oil prices comes as demand suprises,holding up remarkably well in spite of weak global economic growth and a plethora of supply disruptions, in particularly in the North sea and Iran indicating some tightening, as Iran oil production has fallen below 3mil bblpd.
From the FT Sat 18 Aug.

granny

Only referring to published research. FOGL, if it finds anything, won't become a producer for several years. Iraq could be a major producer by then.

Well thats upto date research from International Energy Agency that i post from the FT, and the fact that FOGL won't be producing for several years is neither here nor there, who knows the state of the world in two/three years time, in fact if the Iran situation escalates then what will the price of oil be then?..

I see Israel are issuing gas masks to their population in readiness for a strike on Iran soon. Looks like a matter of 'when' not 'if'.

pump prices to go to £140+p per ltr by end of month.,.

Israel attack should be Q1 2013 imo. Will devastate Kurdistan and other middle east located oil and gas companies imo.

Good news for oil price going up and for oil and gas companies not located in the middle east.

have you been on the magic mushrooms again or has the sun fried your brain?

as so often, you start with a (just) tenable premise and then jump to the most preposterous of conclusions

Israel have gone on record several times stating that their window of opportunity will close before the end of this year, with the latest time line given OCT of before end of NOV.
Of course they could stretch this out to 2013, but my bet is they will attack within the next couple of months.
When they do, the USA will have no option but to back them in any military strike.

Although I, like most reasonable, sensible people do not want war, as I feel there is no alternative, the sooner the better for the worlds sake.

Don't kid yourself. If Israel attackes Iran, then the whole of the Middle East will go up, with profound consequences for the rest of the world.

i would expect any attack to be much more subtle than missiles and bomber squadrons ..... the israelis have already shown themselves very adept at cyber warfare and similar ..... an sas/mossad operation against one of the major installations would certainly not be out of the question nor so obviously overt as to trigger general carnage in the region

at least as potentially scary is the aftermath of the inevitable demise of the assad regime in syria .... that is likely to be a real pandora's box

You right about Syria Cynic , i not a war monger but some thing has to be done about Iran , they ben stringing the West along for years about it's peace full etc! Funny how they wont alow the Atomic Inspectors in to alay our fears, bomb the Fucker's back to the Stone age, not the people just the Mullah's and Goverment!!!

Do the powers that be ever learn.
Remember how they allowed Hitler's Germany to build up their military power whilst they listened to all the peace makers.
Peace in our time and all that.

Some countries rulers only understand forceful actions as anything less indicates weakness that they exploit!

Greekman , your so right about weakness from past History unfortuately , and Iran is exploiting the West's weakness big time , afraid to say with Obarma and EU Liberal's in Power no change with Syria/Iran. The French are pushing for force over Assad , and we helping with Itelligence from our base in Cyprus to the FSA !

Some intresting people in FI at moment one company is Knights Consulting Ltd.

perhaps Knights Templar would be more use to scare the Argies!

No just the threat of the presence of submarines/ new Destroyers should keep the argies to giving out jaw jaw and not war war..