WTI $64.60 -20c, Brent $68.00 -39c, Diff -$3.40 -19c, NG $2.53 -3c, UKNG 46.25p +2.04p Oil price Oil has been quiet all week as the vaccine worries in the EU ...
Oil drifts as European Governments 'pause' the Oxford vaccine after 37 cases of blood clotting were found in between 6-9m doses of the vaccine. Better than expected economic data from China and others comes with fears that inflation might see a stronger dollar. Retail gasoline prices only add fuel to those flames. San Leo is being delayed but its not a problem and I interview Paul Griffiths of Predator who is in fine form.
Oil is flat so hardly changed on the week. Kistos announce their first deal, Predator raise and Far call the meeting. Getech also raise in their future restructuring.
After all the Hullabaloo oil was even last week, today however it has tipped upwards again. I look at Chariot who have signed a collaboration Agreement with Subsea Integration Alliance for Anchois. Angus Energy are positive after news that their loan has seen substantial subscription. President update on 2020 and give guidance for 2021 whilst Echo publish their bond restructuring details.
Oil is continuing to rise, the US is closed today but the favourable winds are blowing. Predator are looking very strong with good news from Trinidad, drilling in Morocco looks like to be going ahead shortly and even the Irish LNG project is back on the front burner again. Pantheon have prelim results from Talitha #A which looks good and is testing. Finally UOG has initial results from ASH-3 which seems positive.
Oil stays on an upward trend as news on stocks show declines and that Opec+ consider will fall more by June. Predator has welcomed the Irish Government's commitment to honour existing licences issued by the State for oil and gas and that all options for energy security should be explored. President has started development of its treatment plant which should save considerable opex.
The 2021 Bucket List.
Oil is steady enough after the week when Opec meetings dominated but the final output change seems to satisfy most participants. With meetings in the new year on a monthly basis that should mean that fingers will be closer to the pulse and more visibility with regard to demand led by economic growth. Predator has issued a detailed end of year update which gives great optimism for next year and President Energy has passed the 4,000 boepd mark, a very creditable achievement. Finally UOG have been given a large number by GCA for its Jamaican acreage, next year's farm-out process will be the ultimate process.
After yesterday's fall oil has settled today but with no signs of the virus abating even the opec secretariat are cautious on demand picking up this year. Predator continue to serve up good news, today it is from Trinidad with Ministry approval on CO2 EOR. President have also announced a potentially good well result from Estancia Vieja whilst Hunting's 3Q wasn't as bad as I expected.
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 ...