Oil fell sharply yesterday as mixed US data led commentators to suggest as much as 125 basis points on the rate ahead of the Fed meeting next week. Today Coro and Empyrean both announce interims. IGas shares continue to fall, the gang of three who fired Steve Bowler have a great deal to answer for...
Oil bounced after signs that the Iran deal isnt iminent and Europa borrowed £1m from UJO, Coro have good news from Duyung and I take a fresh look at Sound Energy after yesterday's numbers. Both IGas and Reabold laud the Government's moves on fraccing etc and Getech make a big hire.
Oil fell as bad economic news and no cessation of output from Iraq worried markets. Union Jack have paved the way for a payout, Scirocco are almost home and dry as are Angus. Coro move one step forwards in Vietnam and Echo get breathing space for putting results out.
Oil had a big day on the back of the KSA interview about Opec, elsewhere Arrow has had a very good few months in London and Coro try again to sell the Italian assets, now worth much more than when they fell through before. But most of all interest is that Rockhopper has won its arbitration case with the Republic of italy and been awarded €190m plus interest...
Oil fell back with the differential widening again. Today Diversified make a decommissioning acquisition and UOG update as do Coro. From yesterday I catch up with VOG, Block and Deltic.
Oil rose as production in Libya and Ecuador fell for civil rights reasons. Still no data from the EIA and Macron thinks he has a scoop from Opec. Savannah bring more gas onstream and Petrofac have decent figures looking better in 2H 22. President results good and value still way too low and Getech sign a big contract. Finally Coro have had a good year
Oil is actually fairly quiet at the moment, it won't last... Today Angus has announced that it is buying in the 49% of Saltfleetby that it doesnt already own in a smart deal. Coro update the market, Trinity have full year results and Helium One Global are off drilling again...
Oil was down last week and is now off another 3 bucks today. Ineos boss Sir Jim Ratcliffe make a very good case for fraccing in the Sunday Telegraph. DEC have published their sustainability report and Genel detail KRG sales and payments. Angus have done a small raise today, wise given the bidding timetable has overrun a bit. Afentra updates on Sonangol and Coro has signed up on a new deal in Vietnam. Longboat have spudded Cambozola it's one of the biggest gas prospects around. Lamprell, I just don't know what is going on, it seems like good progress in wind but oil & gas going well is up for sale. UOG has confirmed its sale in Italy to Prospex and is now well financed but needs to spend the money.
Oil has bounced by just over two dollars this morning as peace talks seem unlikely to be working. Gulf Keystone has announced figures with a substantial dividend pay-out, Orcadian has announced an extension to Phase 'A' of Licence P2320 and a resource update and Coro has increased output in Italy.
The trading range for oil seems to be pretty tight, there is little doubt that stocks will continue to fall and that 1Q 2022 will be the battleground. Yesterday Kistos had more good news and today VOG provide an exceptional update. Far have spudded a very interesting exploration well in The Gambia and Coro has a binding JV agreement in Vietnam.