It will have been a bad week for oil as India and Asia remain hit hard by Covid, also words from Russia and Iran itself suggest the USA are about to end sanctions. A fund raise to follow the acquisition from DEC has been a success and Challenger Energy has also raised money ahead of the Saffron spud. And Kistos close their Tulip deal and also release a positive trading update today.
Oil fell off the highs yesterday when the Russian Ambassador to the UN suggested that the Iran nuclear deal is nearly done, Bloomberg said that could mean 4m b/d onto the market. DEC has completed its deal, the first of many I think, and Rockhopper gives results but plenty more to come this summer. Tower reports from Cameroon where also activity has been delayed but may see action before long. War has broken out between Hurricane and Crystal Amber who are asking for significant board changes.