Oil lost all its gains from the previous week's gains after US CPI meant that interest rates will stay higher in the US and hence the dollar strengthened. Today with most US markets closed for Presidents' Day holiday oil has bounced.
Oil is up after Saudi Aramco raise the oil price to Asian customers seeing a rebound in Chinese demand. A good update from Serica and with Tailwind it should be better whilst GKP have warned about the Ceyhan pipeline and terminal post the earthquake. Longboat are indeed looking at Asia and Predator issue an interview with Paul Griffiths.
Oil lost its gains on US data and inventory gains. IOG is planning changes at Southwark to isolate three of the zones and Gulfsands has opened its new Hub in Abu Dhabi. Predator has run into technicals in Morocco but it's not all over yet. Capricorn, you couldn't make it up could you? Getech has produced a good set of numbers and a good order book in its new areas and Serica gets a renewal from the US. Angus has a 14 day delay at Saltfleetby which shouldn't worry folk and COPL has production at Cole Creek. And Kosmos say the FPSO for Tortue has sailed away to Tortue.
The 2023 Bucket List is published today, five companies are leaving one way or another and three are joining the group. The Oil and Gas prices both showed consistency in being virtually unchanged on the year although the prices changed at different times during it, see the charts. The blog also announces how the 2022 list fared.
Oil fell last week but is rallying hard today after China opens up. I am looking at the Bucket List at the moment and today assess the big chances at DEC given current natural gas prices and at Touchstone who have a portfolio swap today. I spoke to Serica CEO Mitch Flegg and now the circular is out we can see more data behind the early announcements.
A flash blog so detailed analysis and further comments tomorrow.
Oil was up last week and stronger again today, Opec+ didn't change the deal and the EU seaborne oil and the G7, EU and Australian price cap came in at $60. Wentworth has announced an agreed takeover by Maurel & Prom and Angus are working hard at Saltfleetby. At Serica Eigg is non-commercial but trading remains strong and Petro Matad still have no luck at XX but are hopefully drilling Block V next year
Oil rallied as Hurricane Ian headed towards the Gulf of Mexico, it's now veered towards Florida. Today i look at DEC with a deal completion and yesterdays buy-back news and Reabold have madea small acquisition. Getech have results and now need to deliver, and i3 add to yesterday's announcement to say that Graham Heath is leaving. Yesterday was a nightmare with so many results and calls/meetings that they are in today's blog.
On a day that inflation send markets tumbling oil fell but was off the lows. Today Zephyr have an exciting deal that increases the value of the Paradox Basin and Chariot have interim results. Serica have operational problems at North Eigg and Pharos are looking tidy and about to restart paying dividends. Reabold have done a cracking deal on Corallian but go unrewarded in the market and Helium One are now drilling Q1 2023.
Oil continues to drift, even after today's better than expected US CPI numbers markets rallied but not the oil price. Maybe as it's the monthly reporting time that is responsible but I'm convinced that underlying the bulls will out. Last night both Serica and Kistos walked away from hostile activity and will remain independent. Today sees the return of Afentra to the market following suspension after the Excellent deals in Angola and it looks to be very positive indeed and are seriously going places. Finally I caught up with Gran Tierra after figures on Monday.