ZEL - Z Energy.

[dreamcatcher]

I see no evidence of cruise ship captains ramming one another in order to jump the queue at the bunker wharf nor stories of frustrated airline passengers having to wait for their flights while Z rushes fuel from the refinery or tales of queues found the block at service stations.

Whatever is causing oil prices to rise it is not demand.

Boop boop de do
Marilyn

You hit it on the nail "no demand" world is currently awash with surplus oil, no more containers to fill. Suppliers will shut down production as cheaper to leave oil in ground creating massive unemployment. Oil not just used as fuel for boats, planes and cars. Reductions talked about could be 15m barrels a day to prop up prices.

https://edition.cnn.com/2020/04/02/b...bia/index.html

[dreamcatcher]

Been through deflation when duty on clothing was reduced to zero and local manufacturers had to compete with Chinese prices. T-shirts costing 70c minimums orders around 30,000 - 100,000 .......... my question is why did local retailers not sell t-shirts for $1.40 as markup was 100%

Answer is simple could not sell VOLUME ......Fuel prices will ALWAYS remain high unless NZ creates VOLUME

Who knows ?

[Balance]

Jet fuel demand will be just a few percent now. Plenty of price gouging going on. Local Z wanted $1.97 for 91 octane yesterday which is absolutely scandalous for where oil is currently priced. That's how Z are able to meet their previous guidance. Massive price gouging. "Z is for New Zealand". Yeah right.

https://www.rnz.co.nz/news/national/...anies-millions

Pain for Z & the other petrol companies.

"We've indicated we will incur a loss in the near future, around the $8 to $10 million level.

"That's the cost of having to take these boats, and crude that we've already purchased, and sending them back into the market that's at ... something of a glut. We're having to take a loss on something we already bought, because we don't have the physical space to store it right now."

[Beagle]

Thanks Balance. Interesting times for sure ! NZR on go slow to the end of August now https://www.nzx.com/announcements/351320

I missed this announcement the other day. http://nzx-prod-s7fsd7f98s.s3-websit...200/320262.pdf

This latest move by ZEL to cut the dividend altogether adds to a now fairly established pattern suggesting ZEL is not a "reliable dividend payer" and accordingly I will exclude it from any future considerations in terms of its suitability as a retirement income stock.

On a different topic, with people only making relatively few infrequent short trips to their local supermarket to replace essential food supplies, car batteries will be under pressure to maintain sufficient charge so warming your car up for 5-10 minutes, (i.e. extra battery charging time), and taking your time with the drive makes good sense to help your car's electrical system get enough charge to cope during the lockdown period. No trips to the supermarket required ? If you don't have a trickle charger it might be a good idea to start you car up in the driveway and let it idle for 20 minutes or so once a week.

[Chinesekiwi]

Thanks Balance. Interesting times for sure ! NZR on go slow to the end of August now https://www.nzx.com/announcements/351320

I missed this announcement the other day. http://nzx-prod-s7fsd7f98s.s3-websit...200/320262.pdf

This latest move by ZEL to cut the dividend altogether adds to a now fairly established pattern suggesting ZEL is not a "reliable dividend payer" and accordingly I will exclude it from any future considerations in terms of its suitability as a retirement income stock.

On a different topic, with people only making relatively few infrequent short trips to their local supermarket to replace essential food supplies, car batteries will be under pressure to maintain sufficient charge so warming your car up for 5-10 minutes, (i.e. extra battery charging time), and taking your time with the drive makes good sense to help your car's electrical system get enough charge to cope during the lockdown period. No trips to the supermarket required ? If you don't have a trickle charger it might be a good idea to start you car up in the driveway and let it idle for 20 minutes or so once a week.

Very prudent advice - my mate got an emergency call for work yesterday and ....battery dead.

[Cyclical]

Alrighty people, a little competition to see in the 4 week anniversary of the lock down. The winner gets a barrel of crude*

Which of you has spent the most on fuel for your automobiles, motorcycles and other forms of hydrocarbon burning modes of land transport since we went into level 4? To keep the playing field even, this is for private domestic use only.

Our household has spent a grand total of:

$0

Or precisely 100% less than our usual spend over a 4 week period.

That's a relief, I wouldn't want to win my own competition now, would I?

*I can't really give you a barrel of crude per se, but understand there are people out there that will pay you to take the product off their hands.

[Grimy]

$0 for us as well. And if you are not an essential worker and had half a tank of fuel I guess most will be $0 or close to it.
I've made two trips to the supermarket, three trips to the vet and one trip to the laboratory in Mt Wellington (from West Auckland) to get a biopsy from our cat analysed. So not many kms.
If it wasn't for the cat I would have done only 80-odd kms, and that's only because we live out of town a bit.

[peat]

is this a confession or a competition?

I've spent a couple of hundred dollars adding to my sharetank.
When we go to Level Freedom I'm going driving just for the hell of it. And I will have paid for all the gas so it will be free lol.

[Beagle]

I've driven to the local supermarket and back twice in the last 4 weeks, a grand total of 9 km's total running. The petrol gauge hasn't even moved but my stomach has with all the comfort food I bought lol

[Grimy]

I haven't bought any fuel. But did buy some Z shares...……..Now that's a confession!