An exciting update from Angus where the Trafigura deal is completed and the possibility of storage of gas at Saltfleetby is being considered.
Oil gave back last weeks gains after a Danish paper suggested that leading shipping companies had cut a deal with the Houthi rebels. Elsewhere today San Leon are still awaiting the money from TRAM and Angus are producing well from Saltfleetby. Finally Alan Bruce has left Ithaca and a new CEO is to be appointed.
Oil is better today after a good day yesterday when Brent rose by over a dollar and the February WTI contract arrived in line. Today Rockhopper announce a monetisation of the OM award, Reabold update on Colle Santo and Angus restructure their debt. And Petrofac have a trading update and a good order book.
Oil has fallen a couple of bucks today, economic news started with the Aussie Central Bank raising rates the Chinese trade data confused and the oil complex fell. Meanwhile retail gasoline prices continue to fall in the US, a gallon of Exxon's finest averaged some $3.396 per gallon last week, down another 7.7c on the week, 28.8c on the month and 40 cents year on year. Today challenger and Predator complete their deal in Trinidad and yesterday Angus updated the market on Saltfleetby.
Oil will end up on the week, no surprise there then and we wait to see how Israel unfolds over the weekend. Today I assess the state of the oil market, take a look at the exciting M&A situation in US oil stocks and round up from Africa Oil Week. I also watched the Sound Energy video which shows considerable progress and have repeated the Angus interview with Richard Herbert from earlier in the week.
Oil is quiet ahead of the US President's visit to Israel tomorrow. Today Angus announce the Saltfleetby CPR and Balcombe High Court decision. Also Southern Energy announce an operational update.
Malcy is joined by Richard Herbert, CEO of Angus Energy, to discuss today's two announcements, and their recent production update.
Oil eased as the Turkish pipeline prepares to re-open. Angus has a very good update and Petrofac have won a $600m contract while today I interviewed Sachin Oza and Stephen Williams CEO's of Reabold Resources.
Oil was up a bit on the week and a little higher today. Chevron have released 2Q results a few days early, beating the whisper and also pointing out that they could pay all the divvis and the capex at prices well below $50 oil. AND, they paid out $7.2bn last quarter. On Friday Angus updated the market on debt and hedging as well as production data.
Oil fell yesterday on the Moodys downgraded its China views. Today I look at the UOG update as well as the Angus news from last Friday. I also note that Gulfsands has stepped up Project Hope with a video from Syria.