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trident

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  1. IMO....too little and far too late, not only in Iraq ...the train wreck is coming big time for the oil industry, because they are still shipping yet there is and will be for weeks maybe months - lack of demand. Where are you going to store tens of millions of barrels of oil when your already severely running out of storage options - worldwide ???
  2. But not recently since they closed the border...... and are still closed - for the time being
  3. Turkey are on lockdown only at the weekends...
  4. Yesterday Brazil's dealing with the virus in the opposite to the us, uk etc, be interesting to see whats plays out over the next few days/weeks While city mayors and state governors have closed schools, universities and businesses, and have recommended self-quarantines and social distancing, Brazil’s president, Jair Bolsonaro, has publicly opposed these measures. Mr Bolsonaro, who has consistently downplayed the risks of the pandemic, says the country can’t afford to halt the economy, and instead argues for a selective isolation of elderly people and the at-risk population. Full article below, very long !!! but well worth the read. imo www.independent.co.uk/news/world/americas/coronavirus-brazil-favelas-cases-deaths-rio-de-janeiro-a9480076.html
  5. or collides with one of the many Elon Musks satilites which are being pumped into space, during this virus outbreak..
  6. Good points Adam, perhaps watching this video will help you join the dots. Well worth watching. IMO
  7. meanwhile they keep up with supply!!!!! ... with nowhere to put or consume it !!!!! ....train wreck comes to mind ! IMO .... SOON
  8. Who wins and who loses when oil prices fall? By Dharshini David Global trade correspondent 36 minutes agO A slump in oil prices is normally a cause for celebration in gas-guzzling nations. The average American burns through 10 litres of oil or oil products per day in normal times. But for oil producing countries - the "global petropolis" - such a drop in the cost of crude can spell disaster, and hardship for millions. It's easy to see why oil is referred to as black gold. When the price was riding high, oil revenues filled the coffers of companies and governments in the countries that produce it. That kept people fed and public services flourishing. But now, having oil can be a curse rather than a blessing. Oil price falls to 18-year low as turmoil persists Record deal to cut oil output ends price war The International Energy Agency previously warned that Ecuador, Nigeria and Iraq could be worst hit, with earnings falling by between 50% and 85% - and that was assuming oil prices of $30 a barrel. Now, it's less than $20 a barrel. All their economies were under pressure already, all are heavily dependent on oil. Fuel accounts for 98.5% of Iraq's export earnings (gems, precious metals, fruit and nuts make up most of the rest). The agency claims Iraq's government will now face a $50bn spending shortfall for the year, even if it were to only pay its civil servants, rendering spending on areas like healthcare vulnerable at the worst possible time. How much a country spends on producing oil also dictates its vulnerability. Saudi Arabia has one of the lowest bills for extracting oil - but its dependence on the commodity means it too could face a funding shortfall of over $100bn. It's still recovering from the last major drop in oil prices in 2014. Attempts to push into areas such as tourism were insufficient to plug the gap. It needs the oil price to be around $85 a barrel to balance the books on government spending. Ironically, it was Saudi that accelerated the oil price volatility by threatening to boost production to punish its rival Russia - a country which is far less vulnerable to swings in the price of crude. President Trump has weighed in to promise support to the US oil and gas industry (in addition to the $650bn of subsidies the fossil fuel sector already gets). While it is the issues of storage and distribution there that have caused such a marked swing in the West Texas Intermediate measure of prices, oil production makes up a far lesser proportion of the US economy than in many other nations. And that makes the US less vulnerable. The lower price is, in theory, a bonus to its drivers and factories - and to those elsewhere. Typically, countries that are net users would stand to enjoy a boost - but that is very muted for most at present, given restrictions on movements and production. But it'll benefit oil's biggest customer, China, which accounts for a fifth of imports and is reportedly stockpiling bargain-basement crude as it fires up its production lines again. On the whole, as the oil price has dropped, the risk of deeper recessions for producers has grown. However, if sustained, the fall could help the recovery in other nations further down the road. Source: BBC World news
  9. The Sudanese prime minister, Abdalla Hamdok, has sacked the governor of the capital Khartoum after he opposed a ban on religious gatherings imposed to try to curb the spread of Covid-19. General Ahmed Abdun Hammad Mohammed refused to implement a decision to ban prayers in mosques and churches due to come into force on Saturday. BBC world news April 17 2020
  10. Muslim clerics vow to hold Friday prayers in Pakistan's mosques BBCCopyright: BBC Devotees praying inside Jamia Thanvi Mosque in KarachiImage caption: Devotees praying inside Jamia Thanvi Mosque in Karachi Some Islamic clerics in Pakistan have said they will hold Friday prayers across the country, despite a ban on big gatherings to prevent the spread of Covid-19. Earlier this week, a group of religious scholars said the lockdown was not applicable to mosques. They said elderly people had been advised to pray at home, and mosques would follow social distancing guidelines. "In the present conditions, five daily prayers along with precautionary measures are essential," religious scholar Mufti Taqi Usmani saidon Tuesday. Pakistan's ban on gatherings has been in place for the past few weeks, but a large number have still been coming out to pray. Nearly 7,000 people have tested positive for the virus in the country, which has recorded at least 120 deaths so far.
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