Oil declined amid Russia's plans to boost upcoming overseas oil sales and as the dollar rallied.
Futures in New York ended the session nearly 1% lower on Friday. Russia will increase its oil exports 3% in the fourth quarter, according to Interfax. Meanwhile, gains in the US dollar reduced investor interest in commodities priced in the currency.
Despite weaker prices on Friday, US benchmark crude futures gained more than 3% this week due to tightening supplies. In the US, crude inventories
Companies: FO 88E DEC EME GTC TRIN UOG WEN
Oil gained a third week as investors focused on the ongoing production shut-ins in the US Gulf of Mexico as more refineries have resumed operations nearly two weeks after Hurricane Ida tore through the region.
Futures in New York posted its longest set of weekly gains since July after ending Friday 2.3% higher. More than a million barrels a day of US offshore crude production remains shut in after Ida swept through the area nearly two weeks ago. Meanwhile, more Louisiana refineries are resumi
No joiners today.
No leavers today.
What’s cooking in the IPO kitchen?
Petershill Partners, Expected Intention to Float on the London Stock Exchange. Petershill Partners, a leading investment group providing bespoke capital and strategic solutions to some of the world's best performing alternative asset management firms. Petershill Partners today comprises minority investments in 19 high-quality Partner-firms, previously held in private funds managed by Goldman Sachs Asset M
Companies: AREC BIRD CPX OMI POLB RAI SEMP SWG STA UOG
Market update - 07/09/2021
Companies: Chariot Limited (CHAR:LON)United Oil & Gas Plc (UOG:LON)
Market update - 09/06/2021
Companies: CEG GENL UOG
Oil in New York posted its second weekly gain as the impact of Hurricane Ida continues to snarl US oil production, though prices edged
lower Friday following a weak US jobs report.
West Texas Intermediate futures capped a gain 0.8% for the week despite shedding 1% Friday. The deceleration in hiring reflects
growing fears of the delta variant of Covid-19 and complicates a potential decision by the Federal Reserve to begin scaling back
stimulus. Traders exiting positions ahead of the long week
Companies: FO 88E DEC EME GTC TRIN UOG
Oil capped the week with the longest losing streak since 2019 as the dollar strengthened after the Federal Reserve signalled it will start tapering stimulus and the virus resurgence raises doubts about demand growth.
West Texas Intermediate futures ended the session 2.2% lower, tumbling for a seventh day and extending the week's decline to 8.9%. Other raw materials including copper and iron ore fell on Thursday following the Fed's signal. The Bloomberg Dollar Spot Index has risen every day th
Companies: FO 88E DEC GTC TRIN UOG
Market update - 16/08/2021
Companies: 88E I3E UOG REXI
Oil dipped, trimming a weekly advance, as the fast-spreading delta variant continues to cloud the short-term demand outlook.
Futures closed nearly 1% lower on Friday in New York, narrowing a weekly gain to 0.2%. The latest Covid-19 wave is leading to tighter curbs on movement across the globe, though there are mixed assessments on its impact. The International Energy Agency reduced its demand forecasts for the rest of the year, while Goldman Sachs Group Inc. predicts only a transient hit to c
United Oil & Gas has announced the sale of the Company's wholly owned subsidiary UOG Italia to Prospex Energy for €2.165m. United will receive an immediate payment of c€108.2k, with the remainder of the €2.165m total consideration payable on completion. UOG Italia holds a 20% non-operated interest in the Podere Gallina licence, containing the Selva gas development project. The UOG Italia disposal follows the proposed sale of UOG's Central North Sea portfolio, (announced in July) for a gross head
Companies: United Oil & Gas Plc
Market update - 10/08/2021
Companies: GBP JKX TRP UOG MSMN
Oil fell, capping the biggest weekly loss since October, as the spread of the delta coronavirus variant in China and elsewhere in the world is casting doubts on demand growth.
West Texas Intermediate futures dropped 1.2% Friday and 7.7% for the week. The dollar rose following a better-than-expected US jobs report, weakening the appeal of commodities priced in the currency. China has imposed increasingly strict restrictions on mobility to fight the spread of the deadly variant, while records i
United has announced another positive result from the Abu Sennan licence, following the successful test of the Al Jahraa-8 development well. The well flowed at a maximum gross rate of 2,819boepd (620boepd net), and a constrained flow rate (more representative of sustainable production rates) of 1,433boepd (315boepd net). The EDC-50 rig will now move 7km to the north to drill the ASX-1X exploration well, targeting the Khoman, Abu Roash and Bahariya reservoirs in a similar structure to the recent
Market update - 02/08/2021
Companies: JSE SOU UKOG UJO UOG MSMN
Research Tree provides access to ongoing research coverage, media content and regulatory news on United Oil & Gas Plc.
We currently have 132 research reports from 6
Higher metal prices saw CAML achieve a 52% and 131% increase in EBITDA and FCF respectively in the first half of 2021, facilitating an attractive 8p interim dividend declaration (up 2p on H1 2020). The H1 results are tracking our full-year estimates, which if achieved would put CAML on an undemanding EV/EBITDA multiple of just 4x and see the shares yield over 8% at current market price. Given average copper, zinc and lead prices across H2 to date are around 10% higher than our pricing assumption
Companies: Central Asia Metals Plc
Today's raise is a testament to support for Jubilee's copper strategy in Zambia and once again showcases Jubilee's keen eye for value enhancing deals. The increase in ownership in the Tailings projects to produce the raw material for the Sable and Leopard refineries will allow Jubilee to benefit more from the profits generated and also to make choices on development speed and product output to closely match the requirements of the Integrated refineries. Today consolidates Jubilee's position in
Companies: Jubilee Metals Group PLC
EQTEC have confirmed that they have completed acquisition of a 1.2MW gasification plant. The plant is expected to be operational by Q4 2022.
Companies: EQTEC PLC
EQTEC and KIBO Plc have confirmed a strategic partnership in the 25MW Billingham Plant. Kibo are investing £3m to acquire 54.54% of the Project SPV, with the remaining 45.46% owned by EQTEC.
Central Asia Metals (CAML LN) reported strong interim results as copper, lead and zinc prices extended their gains up 21%, 11% and 12% YTD. H1 2021 revenue of US$101m was up 42% YoY, EBITDA of US$64m was up 52% YoY and the EBITDA margin increased 5pp to 61%. With no significant other charges, net income was up 69% YoY to US$42m. Having marked to market our commodity price assumptions, our estimates are broadly unchanged meaning CAML remains well on track for a record year of earnings underpinned
H1 2021 results
Companies: Union Jack Oil Plc
Production and cash holding update
Companies: Hurricane Energy Plc
Companies: Shanta Gold Limited
• The latest horizontal well (BN-8H) has achieved a ten day initial oil production rate of ~7.6 mbbl/d. This is materially above our expectations of ~5 mbbl/d.
• As a result, current oil production is ~ 15.4 mbbl/d, also above our expectations of >13 mbbl/d. This is a very good result and with another development well due to be spudded shortly, the company is well on track to meet its production target of ~16 mbbl/d in 4Q21.
• The results of the BN-8H well could also have positive implications f
Companies: PetroTal Corp.
Bluejay Mining* (JAY LN) – BUY, Valuation 37.7p – Analyst call
Central Asia Metals (CAML LN) – H1 performance and strong commodity prices deliver increased interim dividend and early repayment of debt
Eurasia Mining* (EUA LN) – Monchetundra detailed mining plan
Jubilee Metals Group (JLP LN) – Conditional placing to progress Zambian expansion
Empire Metals* (EEE LN) – Strategic technical review commenced at Eclipse project
Renascor Resources (RNU AU) – Major project status awarded by Austr
Companies: JAY CAML EEE EUA WRES JLP RNU
Despite the significant ongoing challenges posed to the business as a result of the COVID-19 pandemic and the sudden passing of founder and Executive Chairman, Bruce Dingwall, Trinity has released a strong set of interim results, with the Company's resilient production and strong balance sheet providing a solid foundation from which it can meaningfully scale the business. Higher oil price realisations during H1/21 more than offset an 8% natural decline in production, leading to a 69% increase in
Companies: Trinity Exploration & Production Plc
• Pharos is farming out 55% WI in El Fayum and North Beni Suef to IPR Energy. In return IPR will fund US$38.425 mm of Pharos’ retained share of the costs of future activities, equating to funding a ~US$85 mm gross programme (opex + capex). In addition, IPR will pay US$5 mm in cash on closing and a contingent consideration of US$0.175 mm for each US$1 over US$62/bbl (with a cap of US$92/bbl) each year from 2022 to 2025. This represents a potential additional consideration of U$20 mm (US$5 mm x 4
Companies: Pharos Energy PLC
Bluejay Mining* (JAY LN) – Greenland agrees new economic aid with the US
Ariana Resources (AAU LN) – Further drilling results from Kepez North
CATL (CATL N) – CATL may be joining the bidding war for Millennial Lithium Corp. as Chinese firms battle for EV material supply
Condor Gold* (CNR LN) – Senior mining engineer appointed to advance La India feasibility study
Cora Gold* (CORA LN) – Interims
Galileo Resources (GLR LN) – Sale of Kalahari Copper Belt licences expected to complete next week
Companies: AAU JAY CNR CORA GLR GGP POW RRR VUL SSW
Exactly one year ago, the FTSE 100 closed at 5,862, having fallen 100 points on the day, the lowest point since mid-May 2020, due in part, to the strength of sterling vs US$ at $1.34. One year on, the FTSE 100 has risen to 7,119, a rise of 21%, it remains 7% below the peak in January 2020. From an international viewpoint, US and European markets continue to trade at record highs. The US Federal Reserve is close to withdrawing some of its economic support this year as inflation picks up and the e
Companies: AMYT BAG BVC BRSD CLG CML FBD GDWN INV MACF MNZS MIO NRR NSF NBI MATD PREM QFI RUA SCS STVG SUR SNX UPGS VAST VLS
Companies: IronRidge Resources Ltd