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Post by fishingrod on Apr 18, 2023 19:12:22 GMT
What is the corporate tax rate in Norway? EQNR paid $49,861M in income tax on $78,604M of net income in 2022. 63.4% tax? It looks like 22%.
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Post by mnfish on Apr 19, 2023 12:24:30 GMT
What is the corporate tax rate in Norway? EQNR paid $49,861M in income tax on $78,604M of net income in 2022. 63.4% tax? It looks like 22%.
From "The Petroleum Tax System - Norway - "Because of the extraordinary returns from production of petroleum resources, the oil companies are subject to an additional special tax. The ordinary company tax rate is 22 %. To ensure a neutral taxation system, paid company tax is written off when calculating the special tax base. This entails a special tax rate of 71,8 % in order to maintain a combined marginal tax rate of 78 %." - "In order to maintain a combined marginal tax rate of 78 per cent, the special tax rate was technically increased from 56 to 71.8 per cent. Financing costs are not deductible in the special tax base."
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Post by fishingrod on Apr 19, 2023 13:05:52 GMT
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Post by johntaylor on Apr 29, 2023 16:57:11 GMT
"Exxon Mobil... posted its strongest-ever first quarter as oil production soared from new wells in the US and off the coast of South America. Net income more than doubled from a year earlier to $11.4 billion ($11.6bn ex items), the highest Q1 profit in the oil giant’s 140-year history, which is remarkable since oil prices tumbled during Q1."
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Post by chang on Jun 13, 2023 13:56:57 GMT
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Post by richardsok on Jun 13, 2023 14:20:32 GMT
Massive inside ownership, sitting on $17/sh cash. TipRanks Score 8/10. PE 3. Politically stable Norway. Big buy-backs. Getting conflicting numbers on dividends, though. I see 11% yield reported but only 90 cents paid out in the last 12 months. Any idea of their reserves depletion rate? I'm still riding with PBR and PBRpA despite the big political risk. Just went enormous XDiv.
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Post by anitya on Jun 13, 2023 15:05:54 GMT
EQNR pays its Div as regular (committed) and special (variable) dividends every quarter. The difference between the larger and smaller Div reported by various data sources is likely the Special Div.
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Post by chang on Jun 13, 2023 15:28:19 GMT
I'm still riding with PBR and PBRpA despite the big political risk. I'm glad I haven't got your nerve in my tooth.
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bruno
Lieutenant
Posts: 57
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Post by bruno on Jun 14, 2023 23:37:49 GMT
The ONLY stock i heald for years was OKE. If it goes south so will the state of Oklahoma. The OCC gives OKE what ever rate increase it asks for. I worked for a company that KMI bought out and still have several friends who work there but they are not to crazy about the stock. KMI has a management problem.
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Post by chang on Jun 16, 2023 10:59:12 GMT
Equinor has logged a 20% rise during the first 15 days of June. Wish I'd added to it earlier.
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Post by chang on Oct 18, 2023 17:40:16 GMT
Equinor has logged a 20% rise during the first 15 days of June. Wish I'd added to it earlier. Equinor has had a nice 6M/YTD rise. I guess some people (most people?) can trade these things, but I don't stand a chance. No clue. Best I can do is to look for long-term drivers and competitive advantages, invest, and forget. Energy is terribly difficult to B&H, and I would never seriously overweight it. But I wouldn't seriously underweight it either.
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Post by win1177 on Oct 19, 2023 16:05:12 GMT
The only “energy bet” we have held for years is XOM, as our cost basis is ridiculously low. So we have held it for years, it represents our largest position at about 7% of total portfolio. Years ago, it was as large as ~20% of the portfolio, but I slowly sold it off as it periodically “spiked”, now down to a lower percentage. Looking to add other energy positions, to slowly get away from holding only XOM.
What other “longer term” energy positions look promising now??? NOT interested in MLP’s due to tax complexities.
Win
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Post by archer on Oct 19, 2023 17:55:42 GMT
I have been keeping an eye on NLR (uranium) It has been outperforming XLE over the past year. I currently do not own it and sold it awhile back, but it is in the trading mart of my PF. Long term, I think Uranium can do well. It has made a shift from being controversial if not evil from a green energy perspective to being embraced as a viable clean energy. At the same time it has a well established infrastructure, but perhaps too well established (aging). This avoids some of the problems facing wind and solar. I don't see anything special about NLR, but just want to offer the idea of Uranium as something to look into. chang, has posted from time to time about Uranium over the years, so maybe he will have some valuable input on this as an option for the future.
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Post by chang on Oct 19, 2023 18:48:23 GMT
archer I wish I could be of some help, but I'm afraid I can't. I don't know (and never knew) anything about U per se, as a commodity. My angle has always been from the standpoint of nuclear generating capacity - new plants planned, approved, and under construction. As it happens, by coincidence, I took part in a meeting with the project team for the upcoming Sizewell C nuke plant in the UK, which will be a copy of the Hinkley Pointy C plant currently under construction. The UK has been approaching nuclear power smartly. I am also keenly following the SMR (small modular reactor) technology development efforts. This makes a great deal of sense for small and medium sized applications, and I truly expect these will be a near-term reality. Japan restarted its NPPs quite a while ago. Korea briefly halted its aggressive NPP construction plan, but resumed it. China never skipped a beat. Canada is the real tiger. Next year they will probably start new construction at Darlington and Bruce Power, one of which will become the largest nuclear power station in the world. India is also building two more units. What does all this mean for uranium as an investment? I have no idea. Unfortunately, that's just too niche an area for me to consider at this stage of my life and portfolio. I'm not doing any "mad money" investments any more.
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Post by anitya on Oct 20, 2023 20:17:15 GMT
chang, Can you pl comment on Saudi & UAE developing nuclear energy projects. May be Americans can get clued in.
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Post by chang on Oct 20, 2023 21:08:34 GMT
I was quite involved on the UAE project - Barakah, a 4x AP-1400 reactor power station built by KHNP of Korea.
Why did an oil sheikhdom build a giant nuclear power station? Honestly? I think for attention and prestige.
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Post by anitya on Oct 20, 2023 21:34:10 GMT
chang, Why are not people tasked with fighting mis-information re Nuclear energy using oil sheikhdoms expanding into Nuclear energy as an example? Life would be so much simpler and cleaner with Nuclear energy than the status quo. (I asked BARD, "what percentage of Israel energy needs are met by nuclear power?" BARD: "I'm just a language model, so I can't help you with that." Looks like the middle-east situation mis-information trolls are winning by starving the rest of us of useful information.) In any case, I was surprised to find Israel gets zero power from Nuclear energy - I would not have ever guessed that. Can you comment why they do not? Is there any nuclear technology (current or in development) that would be acceptable to them as a power source?
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Post by archer on Oct 20, 2023 22:39:00 GMT
There is a long lag time between the building of reactors and recouping the cost. CA has only one working nuclear power plant and it is slated to go offline 2024/2025. It will cost an estimated $45 billion of improvements to keep it running another 20 years. NLR for example is invested in PG&E, the plants owner, and 37% invested in utilities overall. This dilutes ones actual nuclear investment, basically investing in XLU. To catch profits sooner, probably best to invest in Uranium mining ETFs or stocks like URA, but that means greater volatility to go with it.
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Post by rhythmmethod on Oct 20, 2023 22:40:45 GMT
I was quite involved on the UAE project - Barakah, a 4x AP-1400 reactor power station built by KHNP of Korea. Why did an oil sheikhdom build a giant nuclear power station? Honestly? I think for attention and prestige. When I was in SA there was a Harvard prosessor developing a solar farm. It was/is huge. Maybe the same reason!
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Post by chang on Oct 23, 2023 7:46:31 GMT
chang , In any case, I was surprised to find Israel gets zero power from Nuclear energy - I would not have ever guessed that. Can you comment why they do not? Is there any nuclear technology (current or in development) that would be acceptable to them as a power source? It's a good question. Israel doesn't have any oil or gas on its land, and they have sizeable electricity requirements for consumer use and commercial/industrial use - mining [they are a major gypsum producer], water treatment, desalination, etc. I could easily see where they might have developed their own NPP technology (I could envision Israel developing a high technology gas reactor, molten salt reactor, liquid metal fast breeder, or something like this). I suppose the answer is fairly simple: time and money. It takes a decade to design a NPP and another decade to build one, and the capital costs are expensive. Over the life cycle, it can be very cost competitive, but not in the design and build phase. Israel does have a military nuclear program and a well known reactor at Dimona, which probably makes plutonium for weapons. That would have very little in common with a commercial nuclear power station.
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Post by anitya on Oct 24, 2023 19:00:09 GMT
chang , Thanks. (https://www.eia.gov/international/analysis/country/ISR) Let us stick with NPP - I am trying to figure out if NPP safety concerns are legitimate and may be I should not be as dismissive as I was. So, I picked Israel as a candidate to flush this out. "It takes a decade to design a NPP and another decade to build one, and the capital costs are expensive." I am going to set aside the capital costs as capital markets are readily available to the country. 15-20 years is not very long for a country to take up a project for energy independence. Could there be safety issues that are unique to Israel, like hostile neighborhood, but nothing to do with the available NPP technology itself, which does not incentivize Israel to pursue to even develop newer NPP technology?
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Post by chang on Oct 24, 2023 19:27:20 GMT
Let us stick with NPP - I am trying to figure out if NPP safety concerns are legitimate and may be I should not be as dismissive as I was. So, I picked Israel as a candidate to flush this out. . . . . . . . . . . . . . Could there be safety issues that are unique to Israel, like hostile neighborhood, but nothing to do with the available NPP technology itself, which does not incentivize Israel to pursue to even develop newer NPP technology? No. The hostile neighborhood wouldn't be an issue. Nuclear reactor containment structures are bomb- and missile proof. Look how well Dimona is protected - no safety issues since the 1960s. (And damage to that plant would be much more serious than to a commercial power reactor.) Nuclear power safety issues are beyond the scope of this discussion. Yes, they are safe, but that's the subject for a two-day seminar. Plenty of information out there. Read about passive safety, Gen III+ technology, PRAs, Defense in Depth, etc. Good sources are the web sites of the IAEA, NRC, and WNO. TBH, I'm not sure why Israel hasn't pursued its own commercial NPP program. It sounds like something they could, would, should, and would succeed at.
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Post by bb2 on Oct 24, 2023 20:15:37 GMT
WIKI nuclear power in Israel en.wikipedia.org/wiki/Nuclear_power_in_Israel#:~:text=Several%20factors%20have%20contributed%20to,international%20suppliers%20of%20nuclear%20technology. Several factors have contributed to the fact that no nuclear power plants have been built in Israel over the years. One is the fact that the Israel is not a signatory to the Nuclear Non-proliferation Treaty, which makes it more difficult for the country to engage with international suppliers of nuclear technology. Another reason is that very large deposits of natural gas have been found offshore the Israeli coastline beginning in the 2010s. The exploitation of these deposits allow for generating electricity at very cost-effective rates as compared to generating electricity using nuclear power.[1]
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Post by anitya on Oct 24, 2023 22:28:00 GMT
bb2 , Gas discovery is very recent relative to how long NPPs and Israel have been around. NPT is not an issue for Israel. If it wants a NPP, there are plenty of countries, incl the US that will provide the technology / help. India is not an NPT member and it has several NPPs. US has agreement with India to fecilitate India NPP program. India is not even as technologically advanced or ingenious as Israel. Moreover, US-Israel relationship is at level 10 if US-India relationship is at level 0.1. So, it simply boils down to whether Israel wanted NPP or not. Why not is what I am trying to figure out. May be it is a domestic public opinion issue for them. I know people that worked in Nuclear safety but they may not know the Israel answer and I am not sure they will be objective. I may end up asking them FWIW. My hope was chang either would know the official answer or track it down.
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Post by anitya on Mar 2, 2024 0:21:00 GMT
chang, do you still own Eqnr? Why is the stock down to $25? I do not see a dividend cut and I checked the news for the past 10 days and the only potential price moving news is that they are going to build a massive wind farm - not my cup of tea, I would rather they build a new state of the art, latest tech nuclear power plant but I guess they can only do what the voting population want. i have a small holding in an account i do not access often and did not pay attention. I added a more shares in the after market today (paid higher than the closing price to get the trades) in a couple of accounts to use up the cash + MM balances in those accounts and submitted a transfer request to consolidate them into one account. I am so tempted to sell something else and load up on this. Any thoughts?
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Post by chang on Apr 4, 2024 6:19:56 GMT
anitya Have you checked Equinor’s chart for the last month? I hadn’t until richardsok mentioned it elsewhere. It might deserve a buy now - especially as I also hadn’t noticed that it’s yielding a decent 4.52%. I’m going to keep my eye on it today. I have a big profit on Novo-Nordisk and I’m thinking of taking a shaving off that (chart may have peaked for the moment?) and adding to Equinor. Smart or stupid?
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Post by anitya on Apr 4, 2024 7:23:24 GMT
anitya Have you checked Equinor’s chart for the last month? I hadn’t until richardsok mentioned it elsewhere. It might deserve a buy now - especially as I also hadn’t noticed that it’s yielding a decent 4.52%. I’m going to keep my eye on it today. I have a big profit on Novo-Nordisk and I’m thinking of taking a shaving off that (chart may have peaked for the moment?) and adding to Equinor. Smart or stupid? I told you about it on March 1 when it was at $25. Check the post right above your post in this thread; not sure how you managed to skip over. But you like it now at $28? big-bang-investors.proboards.com/post/47822/threadP.S.: I bought more at $26 (in an IRA) but did not post because I did not see any response from anyone. If I had some encouragement from you, I would have bought more between $25 and $26.
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Post by chang on Apr 4, 2024 9:54:25 GMT
anitya Have you checked Equinor’s chart for the last month? I hadn’t until richardsok mentioned it elsewhere. It might deserve a buy now - especially as I also hadn’t noticed that it’s yielding a decent 4.52%. I’m going to keep my eye on it today. I have a big profit on Novo-Nordisk and I’m thinking of taking a shaving off that (chart may have peaked for the moment?) and adding to Equinor. Smart or stupid? I told you about it on March 1 when it was at $25. Check the post right above your post in this thread; not sure how you managed to skip over. But you like it now at $28? big-bang-investors.proboards.com/post/47822/threadP.S.: I bought more at $26 (in an IRA) but did not post because I did not see any response from anyone. If I had some encouragement from you, I would have bought more between $25 and $26. $25 was a bottom! How could anyone have recommended a buy then?
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Post by anitya on Apr 4, 2024 19:37:39 GMT
If any one is interested, the EQNR 52 wk bottom was $24.44 but that has no relevance to whether something is worth buying or at least taking a serious look or entering a buying process. My exact March 31 post is reproduced below, which indicated that I bought at around $25 in after hours market on that day in two different accounts using all the cash and MM balances in those accounts. I did not say I recommended buying which i do not do.
"do you still own Eqnr? Why is the stock down to $25? I do not see a dividend cut and I checked the news for the past 10 days and the only potential price moving news is that they are going to build a massive wind farm - not my cup of tea, I would rather they build a new state of the art, latest tech nuclear power plant but I guess they can only do what the voting population want.
i have a small holding in an account i do not access often and did not pay attention.
I added more shares in the after market today (paid higher than the closing price to get the trades) in a couple of accounts to use up the cash + MM balances in those accounts and submitted a transfer request to consolidate them into one account."
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Post by anitya on Apr 4, 2024 22:33:49 GMT
Brent Crude is at $90. How much higher do you expect it to go in the current run up and what are your reasons for your expectation?
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