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Kenya only after Nigeria in oil reserves
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Fyatu
#1 Posted : Tuesday, September 08, 2015 11:54:02 AM
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Joined: 1/20/2011
Posts: 1,820
Location: Nakuru
Just stumbled upon this RINK while procrastinating at my employers expense. Is is true that Oil reserves in Kenya are only second to Nigeria? Does this mean that if more wells are drilled and the oil slump reverses that Kenya's GDP is headed to the skies? What about the Dutch Disease?
Dumb money becomes dumb only when it listens to smart money
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muandiwambeu
#2 Posted : Tuesday, September 08, 2015 5:30:03 PM
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Joined: 8/28/2015
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Remain kul fyatu. Kama dutch curse sio ukuyu curse basis tutaendagah pwani kununua kambuloti, kujivinjari na kusalimia karukaranga.d'oh!
,Behold, a sower went forth to sow;....
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murchr
#3 Posted : Tuesday, September 08, 2015 6:34:45 PM
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Joined: 2/26/2012
Posts: 15,980
muandiwambeu wrote:
Remain kul fyatu. Kama dutch curse sio ukuyu curse basis tutaendagah pwani kununua kambuloti, kujivinjari na kusalimia karukaranga.d'oh!


Your first post and you are not comprehensible Shame on you
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
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Fyatu
#4 Posted : Wednesday, September 09, 2015 9:58:16 AM
Rank: Veteran


Joined: 1/20/2011
Posts: 1,820
Location: Nakuru
murchr wrote:
muandiwambeu wrote:
Remain kul fyatu. Kama dutch curse sio ukuyu curse basis tutaendagah pwani kununua kambuloti, kujivinjari na kusalimia karukaranga.d'oh!


Your first post and you are not comprehensible Shame on you

Ditto @Murchr i don't comprehend what kaka Muandiwambeu is trying to say. Anyway, back to Kenya's oil reserves...If at all this is true and global oil prices go back to $90/barrel, then this portends serious GDP growth for Kenya. This fear in global oil prices is making me very greedy
Dumb money becomes dumb only when it listens to smart money
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watesh
#5 Posted : Wednesday, September 09, 2015 10:30:45 AM
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Joined: 8/10/2014
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Global oil prices are too low, mining companies will be making a loss here in Kenya if they start mining oil now. Only the likes of Saudi Arabia like are literally fetching oil like water from a river. Cost of mining per barrel there is $10 a barrel. If Kenya starts high production Saudi Arabia and Iran will increase production and run any other country targeting its market share out of business
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Fyatu
#6 Posted : Wednesday, September 09, 2015 10:55:49 AM
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Joined: 1/20/2011
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Location: Nakuru
watesh wrote:
Global oil prices are too low, mining companies will be making a loss here in Kenya if they start mining oil now. Only the likes of Saudi Arabia like are literally fetching oil like water from a river. Cost of mining per barrel there is $10 a barrel. If Kenya starts high production Saudi Arabia and Iran will increase production and run any other country targeting its market share out of business


I beg to differ but at the same time forced to concur with you. I beg to differ in the sense that Saudi Arabia, Iran and other major oil producing countries (OPEC) depend on oil sales to finance their budgets. A consistent fall in oil prices or a stagnation in current low prices will drastically affect these countries economies and they will resort to meet and revise the price to sustainable levels.

I beg to concur in the sense that any commodity price is determined by the forces of demand and supply. It is obvious what the consequences of over supply are. The question is how long is this situation of over-supply is going to persist.

Even in Nyandarua there was a milk glut but it did not last forever.
Dumb money becomes dumb only when it listens to smart money
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guru me
#7 Posted : Thursday, September 10, 2015 12:48:25 AM
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Joined: 6/27/2011
Posts: 63
Fyatu wrote:
watesh wrote:
Global oil prices are too low, mining companies will be making a loss here in Kenya if they start mining oil now. Only the likes of Saudi Arabia like are literally fetching oil like water from a river. Cost of mining per barrel there is $10 a barrel. If Kenya starts high production Saudi Arabia and Iran will increase production and run any other country targeting its market share out of business


I beg to differ but at the same time forced to concur with you. I beg to differ in the sense that Saudi Arabia, Iran and other major oil producing countries (OPEC) depend on oil sales to finance their budgets. A consistent fall in oil prices or a stagnation in current low prices will drastically affect these countries economies and they will resort to meet and revise the price to sustainable levels.

I beg to concur in the sense that any commodity price is determined by the forces of demand and supply. It is obvious what the consequences of over supply are. The question is how long is this situation of over-supply is going to persist.

Even in Nyandarua there was a milk glut but it did not last forever.



@ Fyatu- the current low oil prices are as a result of the Saudi's going rogue. They have oversupplied the market to make it infeasible for the US and Canada to continue exploring their shale oil reserves. Russia, through their declining economy, is a victim of the Saudi's ruthless strategy. Sadly Kenya and other similarly disadvantaged producers will become collateral damage in this war of attrition as our production costs are likely to be below globally dictated Saudi prices.

With Iran oil about to hit the world market as well after sanctions are lifted (creating more supply), I am sceptical as to the viability of Kenyan oil reserves in the short run.

Seem to remember Tullow selling off some interests in kenya after low oil prices.
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guru me
#8 Posted : Thursday, September 10, 2015 12:49:57 AM
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Joined: 6/27/2011
Posts: 63
Fyatu wrote:
watesh wrote:
Global oil prices are too low, mining companies will be making a loss here in Kenya if they start mining oil now. Only the likes of Saudi Arabia like are literally fetching oil like water from a river. Cost of mining per barrel there is $10 a barrel. If Kenya starts high production Saudi Arabia and Iran will increase production and run any other country targeting its market share out of business


I beg to differ but at the same time forced to concur with you. I beg to differ in the sense that Saudi Arabia, Iran and other major oil producing countries (OPEC) depend on oil sales to finance their budgets. A consistent fall in oil prices or a stagnation in current low prices will drastically affect these countries economies and they will resort to meet and revise the price to sustainable levels.

I beg to concur in the sense that any commodity price is determined by the forces of demand and supply. It is obvious what the consequences of over supply are. The question is how long is this situation of over-supply is going to persist.

Even in Nyandarua there was a milk glut but it did not last forever.



@ Fyatu- the current low oil prices are as a result of the Saudi's going rogue. They have oversupplied the market to make it infeasible for the US and Canada to continue exploring their shale oil reserves. Russia, through their declining economy, is a victim of the Saudi's ruthless strategy. Sadly Kenya and other similarly disadvantaged producers will become collateral damage in this war of attrition as our production costs are likely to be below globally dictated Saudi prices.

With Iran oil about to hit the world market as well after sanctions are lifted (creating more supply), I am sceptical as to the viability of Kenyan oil reserves in the short run.

Seem to remember Tullow selling off some interests in kenya after low oil prices.
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watesh
#9 Posted : Thursday, September 10, 2015 8:50:42 AM
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Joined: 8/10/2014
Posts: 969
Location: Kenya
Fyatu wrote:
watesh wrote:
Global oil prices are too low, mining companies will be making a loss here in Kenya if they start mining oil now. Only the likes of Saudi Arabia like are literally fetching oil like water from a river. Cost of mining per barrel there is $10 a barrel. If Kenya starts high production Saudi Arabia and Iran will increase production and run any other country targeting its market share out of business


I beg to differ but at the same time forced to concur with you. I beg to differ in the sense that Saudi Arabia, Iran and other major oil producing countries (OPEC) depend on oil sales to finance their budgets. A consistent fall in oil prices or a stagnation in current low prices will drastically affect these countries economies and they will resort to meet and revise the price to sustainable levels.

I beg to concur in the sense that any commodity price is determined by the forces of demand and supply. It is obvious what the consequences of over supply are. The question is how long is this situation of over-supply is going to persist.

Even in Nyandarua there was a milk glut but it did not last forever.

If the Saudi's reduce their supply, someone else will increase their's and they will lose market share. Iran has some of the biggest reserves and their's hasnt even hit the market. Unless they all collude to fix a certain price, Saudi's wont let go of the black gold market share
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shocks
#10 Posted : Thursday, September 10, 2015 12:47:14 PM
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Joined: 3/15/2009
Posts: 359
guru me wrote:
Fyatu wrote:
watesh wrote:
Global oil prices are too low, mining companies will be making a loss here in Kenya if they start mining oil now. Only the likes of Saudi Arabia like are literally fetching oil like water from a river. Cost of mining per barrel there is $10 a barrel. If Kenya starts high production Saudi Arabia and Iran will increase production and run any other country targeting its market share out of business


I beg to differ but at the same time forced to concur with you. I beg to differ in the sense that Saudi Arabia, Iran and other major oil producing countries (OPEC) depend on oil sales to finance their budgets. A consistent fall in oil prices or a stagnation in current low prices will drastically affect these countries economies and they will resort to meet and revise the price to sustainable levels.

I beg to concur in the sense that any commodity price is determined by the forces of demand and supply. It is obvious what the consequences of over supply are. The question is how long is this situation of over-supply is going to persist.

Even in Nyandarua there was a milk glut but it did not last forever.



@ Fyatu- the current low oil prices are as a result of the Saudi's going rogue. They have oversupplied the market to make it infeasible for the US and Canada to continue exploring their shale oil reserves. Russia, through their declining economy, is a victim of the Saudi's ruthless strategy. Sadly Kenya and other similarly disadvantaged producers will become collateral damage in this war of attrition as our production costs are likely to be below globally dictated Saudi prices.

With Iran oil about to hit the world market as well after sanctions are lifted (creating more supply), I am sceptical as to the viability of Kenyan oil reserves in the short run.

Seem to remember Tullow selling off some interests in kenya after low oil prices.



we are not so badly off,
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