WTI $69.00 +$2.85, Brent $72.54 +$2.39, Diff $3.54 -46c, NG $4.01 -8c
A crazy day in the oil markets yesterday when oil closed at its highs, at one stage WTI was down at $63.72 and Brent at $67.53…Expect more of the same and remember that when nothing much was going on everyone wanted volatility!
During the last 24 hours it has become obvious that a deal has been struck in Baghdad over the 17% budget allocation, in this deal the Iraq central Government will allocate to the KRG in return for 550/- b/d shipped through the KRI. More details on this when it is announced but both Genel and GKP have already announced that they have started to receive payments for Taq Taq, Tawke and Shaikan respectively.
More good news from Caza today as they announce a reserves update from Netherland Sewell in which proved developed producing reserves are up 37.3%. Whilst the market give scant credit for this Caza is massively undervalued and holders would hate to see this one taken out on the cheap and taken private…
Andes Energia is an old favourite of mine and today they have announced that shale oil is flowing on their Vaca Muerta licence and without the need for fraccing. Now while again this market is reluctant to believe, let alone understand this story, it is one to watch and is an interesting call on politics in 2015…
Sefton Resources appears to be clinging on by its very fingernails and the ball is back in the hands of the bank after the bailout didn’t come through…
And its all going on at Gulfsands where Extraordinary meetings have been called and differing sides are asking for the heads of directors. January will be a very interesting month for impartial spectators..
Its been a long day, tomorrow I will write up something from todays OilBarrel and I hope to be able to post a link to my interview on TipTV this morning with Tony Durrant, CEO Premier Oil.
Those eagle eyed amongst you will have noticed that there are some new banners and links on the blog. I am delighted to announce a partnership with this very substantial and highly regarded leader in the field of ‘talent acquisition’ and hope that any readers looking to work with them contacts me or the Harvey Nash team direct.
Almost absentmindedly yesterday I ‘forgot’ to record the England cricket result in Sri Lanka… Unsurprisingly England got thumped by eight wickets and not surprising as Hales and Taylor are polishing the subs bench….
A big programme in the Prem this mid-week, tonight sees the Hammers go to the Baggies, Utd host the Potters, the Swans will fancy a win against the hoops while the Eagles host Villa, the HubCap Stealers go to Leicester and the Magpies are at Burnley.
Balotelli’s been at it again, its almost as if he wants to be thrown out of club number lots as he allegedly posts an anti-semitic and racist joke on Instagram…
And if you think or pray, join others in the City hoping that my very good friend Andrew Whittock pulls through after a very recent accident, we will be thinking of him.