A good day for crude as talks at the White House progress. DEC have had their debt redetermination approved and Petrofac has won another $1bn of work in Algeria. UOG have extended the long stop date for the Quattro deal, again and I talk to the interests close to the Egdon deal yesterday.
Oil fell sharply as US recession looms, Sound look closer to financing and Petrofac have rewritten the numbers. UOG have sold Maria and Jamaica appears to be a bit closer. Trinity have no growth so the Jacobin well is crucial and Tower may well be on the way in Cameroon whilst at GKP everything stops for the pipeline closure.
Oil fell again as US data indicated rate rises next month. Savannah has agreed with the Government of Cameroon for a hydroelectric project to come onstream in 2027/8 and has announced a new NED and Chair designate. And Petrofac has announced extension of its banking facilities.
Oil rose again, data from the east was positive, China backed up good economic news and India said that fuel demand was up another 5% at 4.83m b/d, growing sharply. API inventories were mixed with a modest build in crude and gasoline but a big fall in distillates. A profit warning from the incoming CEO at Petrofac, another divvi from i3 and a fire for Trinity to deal with.
Oil drifted yesterday after bullish inventory stats in crude and gasoline but a small build in distillates. PetroTal update and a very positive capital repayment programme is announced. Petrofac announce 13bn euros worth of wind farm contracts and Trinity and IGas update,
A flash blog so detailed analysis and further comments tomorrow.
Oil is under pressure as China battles with Covid, so far losing the battle despite the 'magic weapon' of zero tolerance. Southern Energy has reported a good set of figures with much excitement to come. Kistos is pursuing a scheme of arrangement in order to restructure and be able to pay out to shareholders. A new CEO on the way at Petrofac and a positive update from Coro in Italy.
In a flash blog today I take a brief look at DEC, Genel, Zephyr, Touchstone and Petrofac.
Oil fell sharply after Opec added only 100/- b/d which is totally meaningless. Petrofac announce a decent contract, UOG report oil in Egypt and Getech have a very good contract.
Oil rose as production in Libya and Ecuador fell for civil rights reasons. Still no data from the EIA and Macron thinks he has a scoop from Opec. Savannah bring more gas onstream and Petrofac have decent figures looking better in 2H 22. President results good and value still way too low and Getech sign a big contract. Finally Coro have had a good year