Crude oil

Keithk

Keithk

Well-Known Member
Joined
Aug 3, 2005
Messages
185
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Location
South Africa
My question and thoughts are now, Is the South African government buying crude oil now while it is at its lowest for stock pile for the future.
This should help the economy when the crude oil price shoots up again when the demand is there and I believe it can happen sooner than expected, when the world wakes up from the lockdown there is going to be a great need for crude oil.
Do we in South Africa not have a lot of empty mines where we had to stock pile oil with the previous goverment,
 
Keithk said:
My question and thoughts are now, Is the South African government buying crude oil now while it is at its lowest for stock pile for the future.
This should help the economy when the crude oil price shoots up again when the demand is there and I believe it can happen sooner than expected, when the world wakes up from the lockdown there is going to be a great need for crude oil.
Do we in South Africa not have a lot of empty mines where we had to stock pile oil with the previous goverment,
Click to expand...

Congratulations for the question of the century, they can save us a year of high prizes at least, which could assist imensely in recovery, however it seems no country is doing it, are all out of cash-?

My local gocery store some time ago....
1st day Joko tea R29...I bought
2nd day Joko tea R32...I bought
3rd day Joko tea R45...I walk past
7th day..More expensive than others......They sensitive on buying(Digital).
 
Moto Guzzi said:
Congratulations for the question of the century, they can save us a year of high prizes at least, which could assist imensely in recovery, however it seems no country is doing it, are all out of cash-?

My local gocery store some time ago....
1st day Joko tea R29...I bought
2nd day Joko tea R32...I bought
3rd day Joko tea R45...I walk past
7th day..More expensive than others......They sensitive on buying(Digital).
Click to expand...
Prices at the pumps would still track international crude prices because of import price parity.
 
Moto Guzzi said:
Congratulations for the question of the century, they can save us a year of high prizes at least, which could assist imensely in recovery, however it seems no country is doing it, are all out of cash-?
Click to expand...

Trump is doing exactly that.


As much as the liberal media hate Trump it helps when you have someone with a bit of business savvy running your country.

What is our government doing to take advantage of the situation?
 
Paul_S said:
Trump is doing exactly that.


As much as the liberal media hate Trump it helps when you have someone with a bit of business savvy running your country.

What is our government doing to take advantage of the situation?
Click to expand...
Locking us down with further draconian restrictions instead of thinking of the people.
 
Paul_S said:
Trump is doing exactly that.


As much as the liberal media hate Trump it helps when you have someone with a bit of business savvy running your country.

What is our government doing to take advantage of the situation?
Click to expand...

Jan van Riebeeck built the largest capacity in the world.



Traders look to South Africa's Saldanha Bay for crude storage as supply glut looms

South Africa's Saldanha Bay is set to become a hub for crude oil storage activity in the coming weeks, as traders look to lock in future profits during the current oil price rout.
www.spglobal.com www.spglobal.com
 
the government is not in the business of buying oil
 
Pegasus said:
Jan van Riebeeck built the largest capacity in the world.



Traders look to South Africa's Saldanha Bay for crude storage as supply glut looms

South Africa's Saldanha Bay is set to become a hub for crude oil storage activity in the coming weeks, as traders look to lock in future profits during the current oil price rout.
www.spglobal.com www.spglobal.com
Click to expand...

Interesting article, but not strictly Eskom related. There is already a thread in the News forum, where I mention contango and storage issue. Perhaps re-post there, or ask mods to merge: https://mybroadband.co.za/forum/threads/oil-plunges-30-after-opec-deal-collapses.1073137/
 
While crude oil is not directly related to Eskom, Diesel is. Somebody here may know better than I how Diesel is made from crude in Milnerton. The 125 MW "Diesel" turbines in Atlantis burn 50 tons per hour, each.
 
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