Oil eased as the Turkish pipeline prepares to re-open. Angus has a very good update and Petrofac have won a $600m contract while today I interviewed Sachin Oza and Stephen Williams CEO's of Reabold Resources.
Oil continues to rise, right now due to a mixed inventory report which accentuated the low level of products in the system. This time gas joined the party as Aussie gas workers voted to strike. Today Eco Atlantic put Tullow out of their misery and buy up their stake in the Orinduik block in Guyana whilst Petrofac report a big backlog and bigger pipeline. Coro take less sooner in Italy to spend in the Falklands and I haven't forgotten Longboat who spudded Velocette earlier in the week.
Oil is down today on Chinese data, DEC have made a wise and accretive sale of a package of assets and Beacon have had a slight operational setback in Germany. Longboat close their JAPEX. deal and Petrofac win a uesful contract in the Ivory Coast.
Oil mixed but better today, Challenger complete the award of the AREA OFF-3 licence, offshore Uruguay, Angus update on production and Longboat acquire some production. Petrofac win another big contract, i the home territory of the UAE.
Oil is unchanged today on a quiet inventory report. Figures from Savannah, a good result from Arrow, A minor disturbance for PetroTal and good news for Petrofac.
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,