The oil price was boosted by the arrival of the hurricane season as Idalia swept across the Gulf of Mexico and non-essential staff were removed and key regional pipelines were shut. More on inventories tomorrow but the API saw a draw of 11.486m barrels. I write up CEG, with more tomorrow and Predator who have updated on Morocco. Finally Eco Atlantic are looking good right across the bulging portfolio. Finally SDX have what looks like a great deal in Egypt.
Oil mixed but better today, Challenger complete the award of the AREA OFF-3 licence, offshore Uruguay, Angus update on production and Longboat acquire some production. Petrofac win another big contract, i the home territory of the UAE.
Oil rallied yesterday ahead Fed day today, now known as a Hawkish pause...San Leon updated and will be suspended as they wait for the finance to be arranged in Nigeria. Challenger get the licence they wanted in the Trinidad Licence round and UJO have another milestone at Wressle. Petro Matad have spudded Velociraptor and IGas are switching slowly to geothermal.
So, Opec, or one should say the KSA have had enough and appear to want to draw the line in the sand at around $80. Today Challenger appear to be the proud owner of another block offshore Uruguay and SDX have got a better GSA in Morocco. Finally Hunting Have cut an interesting JV in premium tubing.
Oil is better today ahead of Sunday's Opec meeting. Today Predator announce imminent spud in Morocco, Hurricane will hand over all the divvis to shareholders ahead of next week's Court appearance. And Reabold yesterday delayed the LNEnergy deal as did Predator and Challenger in Trinidad.
Oil fell again yesterday but there are still many forces at work, right now its a strong greenback. Today I look at UOG, back winning at Abu Sennan and Gran Tierra whom I saw recently. Challenger and Predator get a delay and Trinity are still becalmed production wise anyway.
Oil is waiting for the vote in the House tonight but even if that succeeds there are other hurdles ahead. These include the Non-Farm-Payroll on Friday, the Opec Meeting on Sunday then the Fed meeting where a pause is no longer the favourite. Today I look at Savannah who have agreed a NGSPA in Nigeria, DEC where directors are buying stock for cash and Challenger who appear to have something very serious on in Uruguay...And I have seen something from Reuters who appear to have the early nod on the Trinidad licensing results...
Oil drifted on bank worries ahead of the inventory stats. I have an interview with Andrew Austin, Chairman of Kistos in today and Challenger talk about Uruguay. Finally Harbour strike off Mexico.
Oil tanked on the Fed news which hit markets hard but supported the greenback. Today Chariot announce that FEED for Anchois is finished and Zephyr say that flow testing the 36-2 well is imminent. Challenger and Predator have completed their deal and Angus record that the second compressor is up and running.
Oil drifted after a funny set of industry inventory stats could have hit the market badly but it was attributed to a 'data adjustment'. CEG updated on strategy which is clear about the plans for the long term, and Reabold issued a Competent Person's Report prepared by RPS Group on UKCS Licence P2478 on behalf of the Joint Venture partnership with Baron Oil plc and Upland Resources. Longboat reveal the worst kept secret by going into Malaysia and Capricorn could be doing anything...