NetZeroTrader (@NetZeroTrader) - Twitter Profili

People posting the Norwegian story appear to miss the most obvious… Norway’s reservoirs are younger, bigger, simpler — Johan Sverdrup breaks even at $15/bbl. Aker BP’s new fields at $35–40. The UK side has been drilled since the 1960s. What’s left is small, deep and complex — $80–90/bbl to break even.

Shubham Garg@WhiteTundraSG

Tale of 2 different strategies as 🇳🇴 continues to develop its oil reservoirs whereas 🇬🇧 heavily taxes and regulates their E&P's. Concurrently, geology always wins as the easiest and best pools have been produced already = current production well-below historical highs. 🛢💰

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NetZeroTrader@NetZeroTrader·3d

@NotSmokJ @ClaireCoutinho P.S: I don’t vote in the UK. I do however have a role to play in its energy security and would rather everyone focussed on solutions that are effective and economic.

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NetZeroTrader@NetZeroTrader·3d

@NotSmokJ @ClaireCoutinho Well, what makes you think I don’t make the decision at all Billion £ company ? ;)

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Claire Coutinho@ClaireCoutinho·4d

Ed Miliband is shutting down our oil and gas production in the North Sea. At the same time, his government is lifting sanctions on Russian oil. If you think this is INSANE, sign our petition below👇🏾

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NetZeroTrader@NetZeroTrader·4d

The maths: breakeven ~$80/bbl. Past 15yr Brent averaged at ~$79. Pre-tax margin: -$1/bbl. The project loses money before a single penny of tax. Scrap the EPL entirely, drop from 78% to 40% …doesn't matter. You can't tax-cut your way out of a negative margin. On 2.9bn boe remaining reserves, this basin doesn't work at historical oil prices. That's the point.

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Nick Risdale@NickRisdale·4d

@NetZeroTrader @LordHenrySmith @KemiBadenoch @grok High costs and thin margins not helped by 80% tax rates. It’s an ideological position so morally good but economically bad. We need fossil fuels so it makes sense to increase domestic production and review the tax system. 40% of something is more than 80% of nothing.

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Kemi Badenoch@KemiBadenoch·5d

After 18 months of “standing up to Putin” the Labour govt quietly issued a licence allowing imports of Russian oil refined in third countries. Yesterday Labour MPs voted AGAINST UK oil and gas licences. We are now importing from Russia instead of drilling in the North Sea. Insane.

Javier Blas@JavierBlas

BREAKING: UK waives some Russian oil sanctions, allowing imports of diesel and jet fuel processed in third countries from Russian crude (most likely supply chain: imports of Indian refined products produced by processing Russian crude). gov.uk/government/pub…

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NetZeroTrader@NetZeroTrader·4d

The tax argument doesn't hold up. Full-cycle breakevens on new North Sea developments are around $70-80/barrel once you include capex, opex (NSTA puts operating costs alone at ~£19.49/bbl and rising), and decommissioning liabilities. NSTA estimates £44bn total decom cost. The EPL saves maybe $8-10/bbl. Even scrapping it entirely doesn't get you to viability on a 15-year discounted cashflow. "40% of something" only works if there's a something …at $70-80 breakeven the NPVs still don't stack up.

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NetZeroTrader@NetZeroTrader·4d

The problem with “just remove the ban” is it assumes regulation is the primary constraint on North Sea production. It isn’t, the economics are the constraint. High costs, aging infrastructure, thin margins. Removing the ban won’t change any of that. It only a tool for politicians to rally the crowds for or against them. No depth.

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Nick Risdale@NickRisdale·4d

@NetZeroTrader @LordHenrySmith @KemiBadenoch @grok In which case they won’t buy new licences. So why ban them?

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NetZeroTrader@NetZeroTrader·4d

@NickRisdale @LordHenrySmith @KemiBadenoch @grok The experts are not caring for British North Sea drilling though. They know that the econs don’t work.

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Nick Risdale@NickRisdale·4d

@NetZeroTrader @LordHenrySmith @KemiBadenoch @grok Yet the government has decided to ban new licences. Surely, the viability of new projects is best left to the experts?

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NetZeroTrader@NetZeroTrader·4d

@neilherd32 Norway’s reservoirs are younger, bigger, simpler … it’s Johan Sverdrup breaks even at $15/bbl. Aker BP’s new fields at $35–40. The UK side has been drilled since the 1960s. What’s left is small, deep and complex — $80–90/bbl to break even. It’s not just policy. It’s physics.

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Neil Herd@neilherd32·4d

This really sums our country up !! Yes we need to transition to alternative energy but let’s do it while using our own energy and not buying it from others,ESPECIALLY Russia !! It not only costs more,it’s more harmful to the environment & also we get less taxes due 2 job losses!

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NetZeroTrader@NetZeroTrader·4d

The inconvenient truth the Aberdeen argument ignores: North Sea project economics are genuinely poor right now. High operating costs, aging infrastructure, and thin margins mean new licences often don’t translate to new production. Operators in Aberdeen will tell you the same. Waving a licence around as a solution is political theatre. The energy security debate deserves more honesty than this

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Neil O'Brien@NeilDotObrien·5d

So we are importing from Russia, rather than allow new fields in our own North Sea. Mad.

Javier Blas@JavierBlas

BREAKING: UK waives some Russian oil sanctions, allowing imports of diesel and jet fuel processed in third countries from Russian crude (most likely supply chain: imports of Indian refined products produced by processing Russian crude). gov.uk/government/pub…

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NetZeroTrader@NetZeroTrader·4d

The inconvenient truth the Aberdeen argument ignores: North Sea project economics are genuinely poor right now. High operating costs, aging infrastructure, and thin margins mean new licences often don’t translate to new production. Operators in Aberdeen will tell you the same. Waving a licence around as a solution is political theatre. The energy security debate deserves more honesty than this #northsea #energy #oott #britain

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NetZeroTrader@NetZeroTrader·4d

@NotSmokJ @ClaireCoutinho Norway’s reservoirs are younger, bigger, simpler — Johan Sverdrup breaks even at $15/bbl. Aker BP’s new fields at $35–40. The UK side has been drilled since the 1960s. What’s left is small, deep and complex — $80–90/bbl to break even. It’s not just policy. It’s physics.

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NotSmokingJoe🇬🇧🇮🇱🇺🇦@NotSmokJ·4d

@NetZeroTrader @ClaireCoutinho Surprised how Norway doesn't seem to have this problem. Drills and sell oil to us. U lose respect listening to Liebour.

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NetZeroTrader@NetZeroTrader·4d

@ClaireCoutinho Norway’s reservoirs are younger, bigger, simpler . It’s Johan Sverdrup breaks even at $15/bbl. Aker BP’s new fields at $35–40. The UK side has been drilled since the 1960s. What’s left is small, deep and complex — $80–90/bbl to break even. It’s not just policy. It’s physics.

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NetZeroTrader@NetZeroTrader·4d

The inconvenient truth the Aberdeen argument ignores: North Sea project economics are genuinely poor right now. High operating costs, aging infrastructure, and thin margins mean new licences often don’t translate to new production. Operators in Aberdeen will tell you the same. Waving a licence around as a solution is political theatre. The energy security debate deserves more honesty than this

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NetZeroTrader@NetZeroTrader·4d

The inconvenient truth the Aberdeen argument ignores: North Sea project economics are genuinely poor right now. High operating costs, aging infrastructure, and thin margins mean new licences often don’t translate to new production. Operators in Aberdeen will tell you the same. Waving a licence around as a solution is political theatre. The energy security debate deserves more honesty than this

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Claire Coutinho@ClaireCoutinho·5d

A must read. We called for a National Emergency Plan for jet fuel to be published, they ignored us. Ed Miliband has not done the work and is ideology opposed to British oil and gas. The consequence is that we will now be funding Putin’s war machine. Disgrace.

Alex Wickham@alexwickham

EXCLUSIVE with @EllenAMilligan: UK government officials are blaming each other for the extraordinary situation that has seen Britain loosen sanctions on Russian oil. The EU will NOT waive sanctions. It means the UK has departed from the EU’s approach and now has looser sanctions on refined Russian oil products than Europe. UK officials privately concede it weakens the Britain’s case for its G7 allies to maintain and bolster sanctions against Russia. One says it’s the fault of Keir Starmer and No10 for not taking the lead on measures sooner to prepare for limitations on jet supply. One says Ed Miliband’s restrictions on expanding energy supply have left the UK in a more vulnerable position. The sanctions waiver highlights how Britain has become more reliant on fuel imports than other major European nations. Others say the Treasury and Foreign Office have wavered at the first sign of strain. The Foreign Office is unable to explain its position this morning and remarkably DESNZ is declining to comment. Foreign Affairs Committee chair Emily Thornberry says the people of Ukraine have been "very let down" by the decision to relax sanctions. “They don’t understand, given that we promised that we would stop this loophole in October, and we still haven’t done it. In fact, it seems to have got worse," Thornberry tells the BBC. bloomberg.com/news/articles/…

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NetZeroTrader@NetZeroTrader·4d

The inconvenient truth the Aberdeen argument ignores: North Sea project economics are genuinely poor right now. High operating costs, aging infrastructure, and thin margins mean new licences often don’t translate to new production. Operators in Aberdeen will tell you the same. Waving a licence around as a solution is political theatre. The energy security debate deserves more honesty than this

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Andrew Bowie MP@AndrewBowie_MP·5d

Labour just voted to shut down our North Sea oil & gas industry costing thousands of jobs. This cannot go on. The @Conservatives have a plan to cut bills, support industry, protect jobs, and make Britain energy secure. Our Get Britain Drilling bill would deliver exactly that.

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NetZeroTrader@NetZeroTrader·4d

The inconvenient truth the Aberdeen argument ignores: North Sea project economics are genuinely poor right now. High operating costs, aging infrastructure, and thin margins mean new licences often don’t translate to new production. Operators in Aberdeen will tell you the same. Waving a licence around as a solution is political theatre. The energy security debate deserves more honesty than this

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Conservatives@Conservatives·5d

After voting to block new drilling in the North Sea, Labour are happy paying Putin for Russian oil and fuel imports. Watch this Labour minister crumble as he's confronted with reality ⬇️

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NetZeroTrader@NetZeroTrader·4d

The inconvenient truth the Aberdeen argument ignores: North Sea project economics are genuinely poor right now. High operating costs, aging infrastructure, and thin margins mean new licences often don’t translate to new production. Operators in Aberdeen will tell you the same. Waving a licence around as a solution is political theatre. The energy security debate deserves more honesty than this

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Harriet Cross MP@HarrietCross_MP·5d

🇬🇧 🥀 Labour think banning new oil & gas will make the UK more “energy independent”. 🇳🇴 Norway think drilling their oil & gas will make them more “energy independent”. I know who I think is right.

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NetZeroTrader@NetZeroTrader·4d

The inconvenient truth the Aberdeen argument ignores: North Sea project economics are genuinely poor right now. High operating costs, aging infrastructure, and thin margins mean new licences often don’t translate to new production. Operators in Aberdeen will tell you the same. Waving a licence around as a solution is political theatre. The energy security debate deserves more honesty than this

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Conservatives@Conservatives·5d

Keir Starmer has chosen to shut down our North Sea Oil, and pay Putin to buy Russian Oil instead.

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NetZeroTrader@NetZeroTrader·4d

The inconvenient truth the Aberdeen argument ignores: North Sea project economics are genuinely poor right now. High operating costs, aging infrastructure, and thin margins mean new licences often don’t translate to new production. Operators in Aberdeen will tell you the same. Waving a licence around as a solution is political theatre. The energy security debate deserves more honesty than this

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Scottish Conservatives@ScotTories·4d

‼️ Labour would rather import oil from Putin's Russia than back Scotland's own oil and gas industry. The Scottish Conservatives will always stand up for Scotland's North Sea workers.

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NetZeroTrader@NetZeroTrader·4d

The inconvenient truth the Aberdeen argument ignores: North Sea project economics are genuinely poor right now. High operating costs, aging infrastructure, and thin margins mean new licences often don’t translate to new production. Operators in Aberdeen will tell you the same. Waving a licence around as a solution is political theatre. The energy security debate deserves more honesty than this

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Neil O'Brien@NeilDotObrien·5d

They just started legislating to ban North Sea drilling, now they're importing from Russia instead. No wonder they can't defend this lunacy.

Ridge & Frost@RidgeandFrost

Exchequer Secretary to the Treasury @Dan4Barnet avoids @SophyRidgeSky's question on whether he is comfortable with the government watering down sanctions on Russia, allowing diesel and jet fuel from Russian crude oil to enter the UK ⬇️

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NetZeroTrader@NetZeroTrader·4d

The inconvenient truth the Aberdeen argument ignores: North Sea project economics are genuinely poor right now. High operating costs, aging infrastructure, and thin margins mean new licences often don’t translate to new production. Operators in Aberdeen will tell you the same. Waving a licence around as a solution is political theatre. The energy security debate deserves more honesty than this

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Tom Harwood@tomhfh·5d

It’s absolutely staggering that days after introducing legislation to ban North Sea oil and gas exploration, this malign government lifts Russian energy sanctions in order to import Vladimir Putin’s oil products and LNG.

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