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.
Oil rallies in stock data and waits for the FOMC. Good progress from JOG at the GBA, IGas gets on with geothermal and hydrogen and Longboat at last have wells to talk about. Advance looks to be in a very strong position at Buffalo and President have an operating update.
After last week's good performance oil is today suffering along with all international markets which are in freefall due primarily to Evergrande, a Chinese property company rumoured to be struggling to pay a scheduled debt repayment. San Leon has again agreed to a further extension of the CPW until the end of September 2021. And IGas are adding to the CeraPhi announcement last week by signing up with SSE for the development of a geothermal district heating project in the City of Stoke-on-Trent.
Oil is steady enough after the Opec+ meeting went into no deal mode but the expected rally has yet to emerge. Predator has announced completion of the MOU-1 well in Morocco with gas present. Jadestone has received an allocation of gas in Indonesia and IGas has announced its RBL redetermination and Zephyr are well on their way to spudding again at the Paradox Basin.
The world waits as the Opec+ meeting has gone into another day after the UAE disputed its quota just as a deal was to be announced. I'm sure a deal will be done but if not ironically the oil price will rise as the organisation falls back to the previous numbers which won't cover the expected increase in demand. Rockhopper has announced that Ombrina Mare arbitration tribunal has said that it should be in a position to complete its work in July.