Company Overview and News
Oil price Despite the EIA inventory stats disappointing slightly and the rig count showing a rise of 9 oil units, the oil price acquitted itself fairly honourably last week. WTI gained $1.10 and Brent $1.45 which we can probably put down to geopolitical events. With the MbS round up continuing and an escalation in the tension between the KSA and Iran this aint going away. Before long the Non-Opec and Opec meetings will be upon us, and with the Saudis leading by example, the stage is set for an extension of the agreement and possibly further cutbacks.
Oslo, 10 November 2017 - DNO ASA, the Norwegian oil and gas operator, today reported receipt of USD 46.53 million from the Kurdistan Regional Government as payment for August 2017 crude oil deliveries to the export market from the Tawke license. The funds will be shared by DNO and partner Genel Energy plc pro-rata to the companies' interests in the license.
LONDON (Bloomberg) -- Iraq’s Kurdish region handed over almost $80 million to foreign oil producers over the past two days, but future payments may be at risk.
Consumption of industrial gases in GCC will reach 3.75 million tonnes in 2016, witnessing an increase of 5.4% over 2015. Chemicals & petrochemicals will continue to be the largest application segment for industrial gases in terms of volume in 2016, accounting for 815.6 KT (Kilo tonnes) in 2016, up from 772.2 KT in 2015. Upcoming mega events in GCC, including Dubai Expo 2020 and FIFA World Cup 2022 in Qatar, will continue to drive construction activity, fuelling demand for industrial gases. (1-0)
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In an extensive analysis of the global process oil market, Persistence Market Research forecasts the global process oil market to reach a market valuation of US$ 5,697.4 Mn by the end of 2025, up from an estimated US$ 4,148.9 Mn in 2017, registering a CAGR of 4.1% over the forecast period. Persistence Market Research presents the historical and current market forecast of the global process oil market in a new report titled “Process Oil Market: Global Industry Analysis (2012–2016) and Forecast (2017–2025). (39-0)
CALGARY, ALBERTA--(Marketwired - Nov. 9, 2017) - Steve Williams, chief executive officer at Suncor, today announced the appointment of Mark Little, currently president, Upstream, as chief operating officer (COO). (3-0)
Statoil is signing a letter of intent with Sembcorp Marine Rigs & Floaters Pte. Ltd in Singapore for the construction of the hull and integrated living quarters for the floating production, storage and offloading (FPSO) vessel that will be located on the Johan Castberg field in the Barents Sea. (1-0)
Genel Energy plc ('Genel' or 'the Company') is pleased to announce the receipt of payments from the Kurdistan Regional Government ('KRG') for oil sales during August 2017 from the Tawke and Taq Taq PSCs. Genel's net share of the payments is $16.86 million. (16-0)
Oil price Oil news yesterday was again mainly concentrated on Saudi Arabia who started giving details about the round up over the last few days. Apparently over 200 people have been brought in and over $100bn of missing public funds are being investigated. It looks like there is a link to the Lebanon here as the case crosses international borders.
Genel Energy plc ('Genel' or 'the Company') has come to an agreement with the Moroccan government over the nature, scope and timing of the activity related to the remaining exploration commitment on the Sidi Moussa offshore licensed acreage. (16-0)
Oil price As one might have expected the oil price has consolidated at these higher levels. The API stats were not as good as expected and last night's EIA inventories showed a build of 2.2m barrels against expectations of a similar sized draw. Under these circumstances the modest fall was probably better than might have been expected.
Oct 19 (Reuters) - Britain’s FTSE 100 index is seen opening 4 points lower at 7,538.5 points on Thursday, with futures down 0.2 percent ahead of the cash market open. (9-0)
Oil price No blog yesterday as I was ‘out and about' but company news is fairly thin on the ground at the moment. The oil price remains firm and today Brent is above $58 and WTI above $52, last week they gained $1.55 and $2.16 respectively. The main positive are the substantial export cuts for November announced by Aramco over the weekend in which they expect to reduce by 560/- b/d which in my book is called making a statement. (0-1)
Rising tensions in Kurdish Iraq drove down shares in exposed Genel Energy and Gulf Keystone Petroleum as the prospect of a supply squeeze in the oil-rich region pushed Brent crude above $58 per barrel. (2-0)
2017-10-28 - Wilton
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2017-10-10 - Wilton
2017-10-09 - Wilton
2017-08-25 - Wilton