Oil was a dollar off the top as I write with the Opec+ meeting ongoing. Figures from Savannah Energy late on Friday, Chariot close the AEMP deal and PetroTal update positively. Longboat Energy have a deal and a raise into the bargain, IGas get planning for the Stoke geothermal project, Pharos update and Sound remain confident that the tax is not due.
Oil is in good nick, Brent was over $70 late this morning. UK jobs data and word from the US are pointing to oil stocks to decline 2H this year and after last week retail gasoline prices have risen. Positive news from the Wressle partners today makes that look very good indeed whilst prelims from Trinity were good but show that the company is in a 'pretty good state' and 'delivering for growth.
After the inflation worries on the street the dollar rose and oil has dipped today after another rise yesterday. The KRG has tinkered with the payment schedule, Genel remain very robust and of course the payment has only been deferred. GKP were also affected but have little to grumble about after declaring another $25m of divvi just today. Angus have finalised their Saltfleetby finance and Helium One have their EIA. A solid statement from IGas with geothermal back in the frame and Touchstone have Q1 results.
Oil is quiet, the IMF brought out upbeat GDP figures which seem to support the Opec+ view on the 2nd half economic growth and the API showed crude inventories drawing by 2.6m barrels. PetroTal have had an upbeat statement and JOG has completed the last of the GBA asset deals. IGas have performed well in the conventional assets and Pharos have got a lot of good news to look forward to.
Oil is off around 30 cents today and due a technical reverse but the market remains very positive. JOG has moved a step closer to putting the GBA hub together and the next few months is exciting for them. IGas have had a good run but today's update continues the positive stance with good reserves update, positive production guidance making 2021 look exciting for them.
Oil is still strong this morning after 2020 showed a fall of $12.54 in WTI and $14.20 on Brent. Updates from JOG who has settled the TGS matter, IGas who detail the updated RBL and Zephyr who brief on 16-2 and 2021 outlook.
Oil fell on Friday and is at least a buck down today as markets all lose way in the face of further increases in COVID numbers. President provide very creditable interims along with a successful drilling result today and IGas are throwing the dice again, this time with Hydrogen in a HOT with BayoTech. Finally I review Savannahs interims as I took time out to interview CEO Andrew Knott with a link here.
WTI $40.83 -5c, Brent $42.62 -31c, Diff -$1.79 -26c, NG $2.80 +2c Oil price A very modest fall yesterday, today it's a small rise but no massive direction from the ...
Oil has followed markets down after Reuters report a rise of 160/- b/d in Opec output in September and of course virus numbers were increased by two after POTUS and FLOTUS got the bug. Savannah had results this week as did Lamprell and yesterday I interviewed Stephen Bowler, CEO of IGas.
Malcolm is joined by Stephen Bowler, CEO of IGas Energy, to talk about the company's continuing stable business through uncertain times, including some new acquisitions.