Oil continues to rise despite grotty economics from China. Ineos is talking about $2bn of investment in green hydrogen and IGas, also involved in hydrogen has joined with Iona for solar farms in the UK. SDX has started its latest exploration campaign with the MSD-21 well in Egypt.
Oil as with markets continues to fall but surely MbS won't let the traders take him on and win will he? Genel note that the KRG intends to terminate the Bina Bawi and Miran PSC's whilst SDX have published results.
The oil price continues to fall with markets as the Fed starts to mention the end of the Taper. Today I look at Helium One who have commenced drilling at Tai-2 in Tanzania and also look at some announcements that have happened whilst I was away earlier this week. DEC completed the Tanos acquisition, I'm sure the next deal isn't far away and Scirocco has a clearer line of sight to selling its Ruvuma stake whilst also having a shout with HE1. SDX had a dry hole at South Disouq but CEO Mark Reid remains positive about the area and over at Jadestone they have updated on guidance and updated on operations.
Oil fell as Chinese Delta figures increased and mixed inventory stats showed a build in crude but a draw in gasoline. A great set of figures from DEC which comes as no surprise and Petro Matad raise £76,000 in the Open Offer. Finally SDX announce a spud at South Disouq.
Oil is staying put with Brent at $75+ and WTI at $74+ with the agencies all scheduled to report and likely to firm up demand numbers I suspect. Kistos has started its life very strongly and updates today and ever solid Serica shows good results from its Columbus development well. Zephyr has got under way with the State 16-2-LN-CC well and also some non-dilutive funding for additional data acquisition. President has an operational update as does Block and SDX announced a successful well in Egypt.
After all the price moves last week oil ended only 60 odd cents down at the end, given what happened after the Opec+ meeting had broken up that wasnt a bad result. San Leon continue their consolidation in Nigeria and Predator has appointed a leading Moroccan expert as COO. Coro have started a move into solar in Vietnam which has potential to grow swiftly and Helium One has seen gas bubble but have to side-track the well. SDX also has a trading update.
Oil is quiet ahead of the period end, Opec+ and Independence Day. Challenger update on trading and corporate while Genel announce receipts from KRI oil sales. San Leon cover everything in their finals and Hunting update on trading. Lamprell seem ok then announce they are short of dosh while SDX cover Morocco and Egypt. GKP also announce KRG payments.
Oil weakens amongst markets falling all over the world. Sound are showing that they are picking up nicely under new management and SDX have a mixed bag of 1Q figs with increased demand and a duster. Hurricane has announced the date of its convening hearing re the reconstruction. And a short but interesting video from Zephyr.
Oil continues to rise, up over a dollar and change this morning. US and Chinese economic data is trumping virus worries now and the US is opening up. Today Zephyr have a very positive statement out with revenue already coming through, Far has announced a new CFO in July and Helium One completes 2D seismic. Trinity have made an onshore acquisition and SDX kick off the Moroccan drilling campaign.
Oil had a correction yesterday with virus and inventory worries added to a strong dollar not helping. Good results from SDX this morning and a potential close-out for Gulfsands Petroleum.