Oil is very quiet at the moment and Brent expiry is putting a dampener on things. Plenty from Savannah who have completed the raise and have published its Admission Document following the Exxon Mobil and Petronas deals. IOG has spudded the Southwark well, Hunting has tidied up its North Sea stuff and Advance updates from the Buffalo project.
Oil is slightly better and a number of companies have announcements today.
Oil is taking a breather primarily due to inventory numbers but also that worries from Russia that Covid is back. Also Putin has suggested again that gas flow may be increased to the west, prices are down in Europe but up in the US. DEC have updated on trading, Chariot have signed up an MOU on gas sales at Anchois and Predator have interims out today. Finally, Hunting have a 3rd quarter trading update today.
Oil has rallied again and should end up on the week after the malarkey of recent falls. Today is the virtual Jackson Hole symposium where the taper will be discussed. Tropical storm IDA might become a Cat 3 hurricane as it skirts Mexico and China is boosting the economy. Good solid results from PetroTal, a very good long term outlook, IOG are getting closer to first gas just when prices are at their highs and Helium One drills a duster and cancels well three in this programme. Finally a solid recovery from Hunting as one would expect and a good update from Echo who are increasing liquids production.
Oil is quiet ahead of the period end, Opec+ and Independence Day. Challenger update on trading and corporate while Genel announce receipts from KRI oil sales. San Leon cover everything in their finals and Hunting update on trading. Lamprell seem ok then announce they are short of dosh while SDX cover Morocco and Egypt. GKP also announce KRG payments.
Oil remains on the up, yesterdays Opec+meeting had positive vibes whilst the EIA stats were ok despite not being as good as the API. Petrofac has won $300m worth of contracts in Oman and Hunting has tied up with Well Data Labs.
Oil remains steady after a positive set of inventory stats yesterday. Today the first major winter storms have hit the North East of the US with three feet of snow in places. I have upgraded my 2021 oil price forecasts in line with the bucket list yesterday, I'm now at $55. Hunting have a trading update today, everything is in line with expectations. Cairn has announced a 32p special divvi and Echo have secured a new contract in Argentina. Far has received a potential 2.1c bid from Remus who appeared on the Petrotal shareholder list this week. Trinity has signed an MOU with the Trinidad & Tobago NGC and I report on yesterday's PFC statement. Finally I interviewed Brian Durrant of Unite Oil & Gas yesterday.
WTI $34.57 -9c, Brent $37.07 +14c, Diff $2.50 +23c, NG $1.64 -4c Oil price Apologies for the stop-start nature of the blog this week, so many results meetings and presentations ...
WTI $41.75 -$1.18, Brent $44.06 -$1.75, Diff $2.31 -57c, NG $2.26 n/c Oil price Another bad day at the office for oil market bulls, the prices are now well back ...
WTI $43.96 -70c, Brent $54.43 -$1.48, Diff $10.47 -78c, NG $2.81 -11c Oil price WTI expires today and is weaker into the bargain, currency apart there are no reasons to ...