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Petrotal Corp T.TAL

Alternate Symbol(s):  PTALF

PetroTal Corp. is an oil and gas development and production company focused on the development of oil assets in Peru. The Company is engaged in the exploration, appraisal and development of oil and natural gas in Peru, South America. Its flagship asset is its 100% working interest in Bretana oil field in Peru's Block 95. Through its two subsidiaries, the Company is engaged in the ongoing development of hydrocarbons in Block 95 with a focus on the development and production from the Bretana oil field. In addition to further leads in Block 95, the Company has significant exploration prospects and leads in Block 107. The Bretana oil field is located in the Maranon Basin of northern Peru. The Company has a 100% working interest in the Bretana oil field. Block 107 has three additional leads, inclusive of the Osheki-Kametza prospect.


TSX:TAL - Post by User

Comment by geezer21on Nov 29, 2022 1:22am
79 Views
Post# 35135758

RE:Embargo and Price Cap Imminent

RE:Embargo and Price Cap ImminentThere are some important points to note in that article:

Crude prices are higher than at any point going all the way back to 2014.

Gas prices are 5x higher than in the past.

An E.U. insurance and service ban on all vessels would constrict supply coming to market.

An embargo supercedes a price cap.

2.4m bbl Russian oil need to find new markets

Russia may have trouble getting oil to market if it cannot find enough tankers operating outside sanctions.

Russia says it wll not supply countries cooperating with a price cap and they have already shown a resolve when they cut off gas and oil for those not willing to pay in ruples.

OPEC dislikes the price cap but it will be to OPEC's benefit if caps take Russian oil off the market creating a supply shortfall and price hike.  That will incentivize OPEC not to increase production.
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