A good day for oil as the EU talk about banning Russian hydrocarbons. San Leon update on Nigeria things are on the move, Zephyr CEO talks to me about the CPR, and i look at an interview with John Bell of Gulfsands. Finally Far update the market.
Oil has bounced by $3 this morning, Chariot has updated on Lixus and San Leon on Nigeria. PetroTal win a gong and SDX have a good well result.
Up around $2 last week oil is up another dollar today, the market is not worried about BA.2 the new variant. Kistos has confirmed that it has bought assets from Total Energies in the UK an Netherlands, it looks attractive to me. Saipem gave a whopping profit warning today and San Leon has won its lawsuit with TAQA and Far has received a takeover bid.
2022 Bucket List.
The prospects remain healthy for oil stocks going into 2022. Malcy looks back and discusses the prospects for the year.
In this roller coaster ride oil is up nearly 3 bucks ahead of the Opec+ meeting tomorrow. I look at Sound that continues to make good progress, and exciting times for Chariot as the rig for Anchois is mobilised. San Leon announces further delays and Angus updates with good news across the board. Finally Orcadian gets the OK from the OGA for the Pilot field and Prospex get under way finally in Spain.
Oil is up over $3 this morning as Opec+ meet later in the week to decide whether to cut back their monthly 400/- b/d increase. The discovery of the Omicron Covid variant has worried markets and may dent demand somewhat but Thanksgiving certainly showed plenty of excess. Today I mention an earthquake in Peru which has not affected PetroTal and another delay for the San Leon paperwork. Eco Atlantic report of a share purchase by CEO Gil Holzman and Zenith are continuing with activities in Africa.
First day of the month and quarter and with an Opec+ on Monday there are no prizes for bravery in oil markets. Union Jack and Reabold are disappointed about the planning decision at West Newton but an appeal is probably likely. Scirocco completes its acquisition Echo has restructured its loan. San Leon note production news from Decklar and I cover results from the 15 sets yesterday including President and Getech as well as results from Zephyr with an interview with CEO Colin Harrington and from Savannah and an interview with CEO Andrew Knott.
The last day over the month and quarter has seen some window dressing as November Brent expires tonight. With companies competing to be the most in the last day of the reporting season Savannah, San Leon, Scirocco get in today along with an interview with Helge Hammer of Longboat. That leaves just the 16 to fit in tomorrow...why do they do it and how many will get in, and its a Friday remember...
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.