Another good day for oil yesterday and is still modestly ahead today, all a follow up to the KSA actions at the Opec+ JMMC. Today BPC announce a look at portfolio operations and a funding update showing much activity across the board. PetroTal are showing an impressive set of heels as they announce increased production from Bretana following on from the Brazilian export success. Echo yesterday announced further gas sales contract success in Argentina.
WTI $47.62 -90c, Brent $51.09 -71c, Diff -$3.47 +19c, NG $2.58 +4c Oil price I am writing this late in the day and have just erased all my early comments ...
Oil is still strong this morning after 2020 showed a fall of $12.54 in WTI and $14.20 on Brent. Updates from JOG who has settled the TGS matter, IGas who detail the updated RBL and Zephyr who brief on 16-2 and 2021 outlook.
Oil continues to rise towards the year end in thin trade, but with a new vaccine today in the UK demand for 2021 looks to be potentially very sound. More good news from PetroTal with news of exports into the Atlantic via Brazil and UOG keep their promies and complete the ASH gas pipeline in Egypt.
Oil remains steady with the January Opec+ meeting next week, President Trump signing the Bill and the UK getting a final Brexit deal. Genel has received money in from the KRG for November sales at Taq Taq and Tawke and is looking strong with Sarta crude being invoiced this month. GKP also received money in from the KRG from Shaikan sales. PetroTal are now, having solved the recent problems, flowing crude into the ONP.
Oil rallied as EIA inventory stats saw some positive news with draws across the board.
Oil fell again as the worries about Covid continued and President Trump failed to sign the Covid financing Bill. Sound has pulled off an excellent deal with Italfluid for the mLNG plant. Cairn has won its tribunal case in India and has been awarded $1.2bn plus tips. And Zenith has been selected for the Tilapia oilfield in the Republic of The Congo.
Oil fell as the Covid variant panicked markets although the dollar remains weak. Savannah has updated the market on financials and operations, the company is in very good shape. Angus have raised £250,000 of equity and CEO George Lucan spoke to me about the company's prospects. President has announced a new treatment plant and updated on Paraguay.
After another very good week the good news of the $900bn US deal has been trumped by the news that there is a new Covid variant and markets and commodities are in free fall as I write. BPC has spudded the Perseverance#1 well, one of the biggest wildcat wells for some time and Coro and Empyrean are moving forwards with the Mako Gas Project. Finally Block Energy looks like it has made another smart NED appointment.
Oil will end up on the week, again as general good long term news is around including approval for the Moderna vaccine in the US. Zephyr has spudded the State 16-2 well in the Paradox Basin and Premier are only steps away from becoming Harbour Energy. Touchstone has signed a GSA with NGC in Trinidad and Hurricane warn that whilst 12/- b/d is fcf positive the financing of the company might be terminal.