#Travel Time!

So we are basically at the lowest price level over a year. If this price range continues… Saudis will follow through their million barrels cut into August-2023. #OOTT #Oil

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So boys and girls before criticizing on the location of #COP28 in Dubai, strongly suggest to check its contribution and goals to clean energy.

Come today, we are already at Phase 6 bidding, with Masdar consortium the lowest bidder announced in earlier this month Capacity: 1800 MW Type: Solar PV Commissioning: 2030

Phase 4 also incorporated CSP Tower. - Capacity: 950 MW - Type: Solar PV + Thermal - commissioning: ongoing It has achieved >92% completion Phase 5: - Capacity: 900 MW - Type: Solar PV - commissioning: ongoing Not all 900MW comes online at once, so it’s in stages..

Phase 2 was built by Spanish firm TSK in Gijon. - Capacity: 200 MW - Type: Solar PV modules - Operational: 2017 Phase 3 became full blown out PV massive project - Capacity: 800 MW - Type: Solar PV - Came active in 3 different . - 2018 to 2020

Initial Plan was to develop Solar park in 3 Phases but later got further segmented. Phase 1: - Capacity: 13 MW - Type: Solar PV modules - Operational: Oct, 2013 I was trying to ride back on some of our company success at Ivanpah, US, but here mainly it was PV in those days

Before jump into the Solar Park. Some details on where Dubai wants to be on clean energy front, Dubai 2050 goal, - Net Zero by 2050 - Electricity only from clean sources - Expected Demand: 42,000MW So let’s jump in to this Solar Park from David to Goliath

So we talk a lot about Solar PV. Here is a quick one on Dubai’s journey The whole concept started 13 to 14 years ago. Many projects were in planning phase during that timeline like Ouarzazate, Morocco. Then came up an initial idea to develop #Solar Park in #Dubai

#COP28 Why Dubai is the right place to host it! Majid Jafar, CEO of Crescent Petroleum and MD of Dana Gas. #OOTT Thanks to Dr Anas Alhajji for sharing it.

Russian sea borne oil exports continue to rise, Indians bought the largest volume in May-2023. It should have been even higher but due refinery maintenance season, product exports were subdued. Particularly Diesel exports to Middle East. #OOTT #Oil

But above explanation is over simplified and does not consider spreads or other specifics.. However, let’s continue that logic… Unless demand defaults, Saudis would not allocate full volume in July. This should start tightening physical markets eventually pushing price up.

As doubted Aramco increased their OSP. But why? Aramco exports ~7 million b/d With a million b/d cut let’s assume exports falls same level So Aramco July exports ~6 mbpd Giving ~$1 /bbl discount vs ~$1 /bbl increase is $2 /bbl gain. So it’s minimizes lost revenue #OOTT #Oil

@staunovo @efb_1 thanks for sharing Giovanni.

Tanker Trackers data shows Saudis export volume dropped 0.5 million b/d in May-2023 vs April, matching with Saudis voluntary cuts. #OOTT #Oil.

@ericnuttall If we follow below EIA May STEO, draws must happen in Q3. Let’s see what they have to say in June STEO by tomorrow.

@PriapusIQ Lol! Mate you need to write tweets that a) explains entire article in your tweet b) ensure David can understand it c) David will not read the article link d) Ensure Reuters writes it properly e) Then do a better job! How difficult it can be 😂😂😂

@PriapusIQ @VolaTim This is epic Tim! 🎖️🏆🏅

#OOTT #Oil