Oil took a bath yesterday as a combination of problems faced it, a stronger dollar, increasing inflation worries and of course the Colonial Pipeline problem. It turns out that a ransom was paid outage followed by outrage you might say.. IOG has announced a collaboration agreement with GeoNetZero CDT in carbon capture and storage. And Rockhopper appear in the news as it seems the Tribunal is close to announcing results.
Oil was down just a smidgeon last week and that won't change much as fundamentals are reasonably firm but India's virus numbers are weighing heavily on us all and the oil market. IOG are keeping up with a demanding programme for first gas at Phase 1 of the project and UOG have a solid set of figures and an exciting year ahead.
Oil is very quiet still, IOG have started the drilling on Phase 1 in the SNS and Petro Matad are continuing their licence for exploitation application. President update on drilling, Touchstone have a success at Ortoire and Empyrean up the chances of success in China.
Oil quiet but up around 50 cents as I write and last week was flat. Today IOG have announced a technical update at Goddard and Abbeydale whilst Union Jack invests in Piper & Claymore. At Zephyr they announce further significant progress at the Paradox Basin.
WTI $52.24 +$1.41, Brent $55.99 +$1.61, Diff -$3.75 +20c, NG $2.70 -3c Oil price Last week was a good one for oil, the fact that the KSA had warned speculators ...
The 2021 Bucket List.
Oil quiet with no real change, Christmas beckons... IOG have updated on their asset housekeeping as they get to work on their data analysis. And Wentworth update, a very strong performance with strong production, a healthy balance sheet with no debt, and a top quality management who have increased the dividend by 20%.
Oil will probably be nicely up on the week despite the IEA comments which I commented on yesterday, they remain mega bearish and are yet to acknowledge either the Asian growth I mentioned yesterday or indeed the vaccine situation. The EIA inventory stats were mixed with a 4.3m build in crude stocks but products drew. Touchstone results are meaningless, its all about the drill bit at Ortoire and I wish Mark Hughes the very best in retirement.
Oil is now drifting after a hitherto strong week. Virus numbers are continuing to rise which trumps the US election result. I have interviewed Andrew Hockey, CEO of IOG and give the link, also I look at Gulf Marine Services where trading remains strong but the menace of Seafox lives on.
Malcolm Graham-Wood brings us an thorough and in-depth overview of IOG . Andrew Hockey joins to discuss the current position of the company and how they are moving forward with ...