Oil fell on Chinese Covid worries, the Opec report was broadly in line with previous numbers, they certainly can't increase much right now. IGas AGM trading statement is good but unclear about the Looney tax and Orcadian are back again today with a seismic acquisition and licensing agreement.
Oil fell yesterday on China problems but is up today as the EU start the process of stopping Russian oil and products. Reabold has walked away from Victory as Corallian is bid for, seemingly preferring to spend on West Newton, I don't blame them. Another cracking set of numbers from Gran Tierra across the board and SDX have tied in of the SD-5X Warda well whilst Empyrean are going for Topaz.
Stephen Bowler, CEO of IGas Energy, joins Malcolm.
Flash blog so comments on results from Wentworth, an addition to those from IGas. Chariot have got support from the Port of Rotterdam on green hydrogen and Eco announce a raise of just under £20m.
Oil is still cranking up with more action in the Ukraine, from yesterday we look at outage at Serica and IOG having to change their GSA partner. IGas has updated which looks promising and Jadestone deliver Montara.
Oil is very nearly $100 today after overnight moves in Ukraine from Putin. A big increase in capex this morning from PetroTal and showing that it can deliver way more than expected from the existing portfolio. Union Jack has announced that since August 19th it has taken $3m in revenues from Wressle alone and IGas have a deal on Cornish Lithium.
Oil is in reasonable nick staying around $80. Chariot has made a significant gas discovery at Anchois and Eco Atlantic has acquired Azinam, with stock. IOG have had a small set back in Southwark and IGas have appointed a new NED to take over as Chairman from Cuth McDowall.
Ahead of the Opec+ Ministerial Meeting this afternoon Brent is knocking on $80 as the 400/- b/d increase is likely to be rolled over. Genel have stopped drilling the Qara Dagh well with technical difficulties but hope to return whilst Longboat has spudded the Ginny and Hermine well. GKP has received Shaikan repayments from the KRG and the arrears are also down too and IGas have completed their RBL redetermination.
Oil bounces as people think Omicron isnt as bad as first thought, its like flu apparently...Just Waiting for the Royal Dutch moniker to be removed from Shell, Genel are in a legal fight with the KRG about Bina Bawi and Miran and Hurricane are buying back the bonds. Echo have updated the market quietly, IGas have joined an industry group whilst President announce the Atome details.
Oil continues to rise despite grotty economics from China. Ineos is talking about $2bn of investment in green hydrogen and IGas, also involved in hydrogen has joined with Iona for solar farms in the UK. SDX has started its latest exploration campaign with the MSD-21 well in Egypt.