Oil is firm again today as the market expects Opec to maintain quotas, US inflation falls and Indian jet fuel demand rockets...Today Touchstone has released end 2023 reserves numbers which are unsurprisingly very positive. Eco Atlantic have figures and an update and Molecular Energies say Tapir x-1 is halted. Finally I look at Coro after yesterdays announcement.
The Scirocco board are making it clear to shareholders that it is not just a closing down sale for the company, there are opportunities to continue with 're-tasking' the company which will be put to shareholders in due course. At Coro and Empyrean the approval is a massive plus for the companies.
Oil is down a little today with all the various levers working in different directions. Today with Shell getting approval for Victory Kistos are happy that the vgas will flow through their GLA asset. And Reabold also likes it as they will shortly receive their final payment of some $4.4m. Finally Coro are sorting the finance for the renewables business.
Oil is waiting on Opec on Thursday, but up a little today. San Leon announce that the TRAM money has been sent but not yet received and Europa have turned down a requisition to remove the CEO. SDX announce their policy to concentrate on Morocco after selling Egypt and Coro announced on Friday a restructuring in Vietnam.
After the initial spike in crude oil today all is quiet. Today's big company news comes from San Leon who have received a huge cash injection from TRAM and Coro have signed an MOU with MWIC.
Oil was virtually unchanged on the week, stories abound that the Iraqi-Turkish pipeline is opening for testing....Today, and separately GKP announce increased local sales which cover costs and Coro have 6 month results.
Oil is better again today in what is a quiet market, little going on and even tomorrow's US CPI number probably won't draw the Fed into a rise this month. Today Afentra have results which are of no interest, deals in Afentra are of interest and all is good there. Reabold up their %age in LNEnergy and Ithaca confirm taking Shell's 30% of Cambo. With Coro and Empyrean being boosted by a GSA at Mako both companies can now kick on and get some finance...And I revisit Arrow in case my interview with CEO Marshall Abbott had been missed.
Oil is better again today after further assessment of the inventory stats which showed a big draw in crude. Today Wressle is being installed with a jet pump for increased production for Union Jack and Europa. GKP had nothing much to say about the pipeline but are selling a decent amount of crude at the factory gate. i3 had a bad beginning to the half but is looking better lately. And Coro is trading around the Philippines from Ion to Oslob.
Oil is drifting as economies from Europe to China remain sluggish. Today I look at Touchstone who are near to Cascadura and Hunting who are in very good nick indeed. Also Coro have done a smart corporate deal. From yesterday I relook at Ithaca which yields 22% and Jadestone who I think are out of the trees at Montara. Also I spoke to Deltic CEO Graham Swindells and his company is in a very strong position indeed. Finally Jonathan Leather is moving on from UOG.
Oil continues to rise, right now due to a mixed inventory report which accentuated the low level of products in the system. This time gas joined the party as Aussie gas workers voted to strike. Today Eco Atlantic put Tullow out of their misery and buy up their stake in the Orinduik block in Guyana whilst Petrofac report a big backlog and bigger pipeline. Coro take less sooner in Italy to spend in the Falklands and I haven't forgotten Longboat who spudded Velocette earlier in the week.