The United States, Britain, Europe and Canada blocked ‘certain’ Russian banks from accessing the Swift international payment system on Saturday as part of another round of sanctions against Moscow.
How will this affect the Russian westbound gas supply to Europe and Turkey (Yamal Europe pipeline) via Ukraine? Putin stated earlier this week that Russia will continue to supply gas to the world’s markets.
Worth noting: BP controls 19.75% of Russia’s third-largest oil company Rosneft (AIM: ROSN). It is unclear how sanctions against Russia will affect BP.
Global (AIM: GBP) notes the announcement by TotalEnergies. The announcement states that the Venus 1-X deep-water exploration well has made a significant discovery of light oil with associated gas on the Venus prospect, located in block 2913B in the Orange Basin, offshore southern Namibia and that the Venus 1-X well encountered approximately 84 meters of net oil pay in a good quality Lower Cretaceous reservoir.
Eco Atlantic Oil & Gas Ltd (AIM-ECO) informed investors that it had US$5.8mln in cash and equivalents in 2021. It also stated that it had made a busy start to 2022.
Released its results for the third quarter as well as nine months ending December 31. The company has approximately US$19mln in assets and a portfolio that is rich with opportunities for oil and gas exploration in South America and southern Africa.
i3 Energy plc (AIM: I3E) (TSX: ITE), an independent oil and gas company with assets and operations in the UK and Canada, is pleased to provide the following Q4 operational and financial update.
Q4 2021 average production of approximately 18,229 barrels of oil equivalent per day (“boepd”), a 38% increase from the previous quarter, with current production of approximately 19,000 boepd. Revenues of US$57.6mm (+64% versus Q3 2021), generating US$31.5mm of NOI (+75% versus Q3 2021)
A dividend of £2.25mm was paid in October, bringing total 2021 distributions to £3.41mm.
Brent crude oil prices rose 9% to more than US$105 per barrel on Thursday morning after Russia launched a “full-scale invasion” of Ukraine overnight.
In the wake of Russian tanks, troops and troops crossing the border into Ukraine, and cruise missile strikes against major cities, including Kyiv’s capital, a raft of international sanctions are expected.
On Wednesday, Pakistan’s Prime Minister Imran Khan will travel to Moscow to meet President Vladimir Putin. They will discuss issues such as economic cooperation and the long-delayed pipeline of gas that is vital for the country’s economy.
In collaboration with Russian companies, the Pakistan Stream gas project (also known as the North-South gas pipeline) will be constructed.
Eco Atlantic (Atlantic), Oil & Gas Ltd (AIM: ECO) will be receiving money from the sale of the Kozani solar energy project in Greece.
Solear sold the project to Nepcoe Capital Partners, PowerChina New Energy Power and Solear for EUR1.8mln. This allows Eco to repay the loan it advanced to Solear last fiscal year. Eco anticipates receiving the funds by the end of this month.
Helium One Global Ltd. (AIM: HE1) shares are not valued well in the market according to stockbroker Liberum. It has started its coverage of the exploration company by giving a ‘buy’ recommendation.
The broker stated that “Helium One’s current share prices performance does not fully reflect all the work done by the company to date,” in a note.
Mosman Oil & Gas Ltd (AIM: MSMN) informed investors that it had completed the construction of the gas network, which will enable the sale of gas from the Winters-2 and Stanley-4 wells in east Texas.
The company stated that the system will be tested in the coming days. Once the data is available, well production flow rates can be reported.
Union Jack Oil PLC, (AIM: UJO) informed investors that it has plans to pay dividends and make share buybacks in future.
In a statement, the company stated that it had reviewed its financial and operational plans for 2022.
Drivers face fuel shortages as workers at UK’s ExxonMobil’s Fawley refinery threat of shut-downs
BP PLC (LSE: BP) Following pressure from climate activists, will cease its sponsorship of the National Portrait Gallery for more than 30 years.
After completing a $7.5mln five-year deal, the oil giant will end its support for the gallery’s National Portrait Award in December.
Union Jack Oil PLC (AIM: UJO) stated that its net revenues from North Lincolnshire’s Wressle field have reached US$3mln, since August when test production began.
Wressle holds a 40% interest in the oil and gas group. Current daily production figures range from 600 to in excess of 700 barrels of oil per day from the Ashover Grit reservoir, constrained on a restricted choke.
IGas Energy Plc (AIM: IGAS) an energy firm and parent of geothermal developer GT Energy UK Ltd and Cornish Lithium reached a deal to explore economically viable geothermal heating sites in Cornwall.
Cornish Lithium created 3D models for the sub-surface geology of the area and has secured numerous land and mineral rights agreements throughout the South West.
Pantheon Resources PLC (AIM: PANR) released what it called an ‘excellent result’ from the Talitha well in Alaska. Meanwhile, the eagerly awaited flow test at Theta West has been delayed by a third-party error.
The Slope Fan System (SFS) was tested at Talitha and flowed oil at a steady rate of 32 barrels per day. This was a secondary target. It is located at 10 feet vertical intersections in the reservoir.
88 Energy Ltd (AIM:88E. ASX:88E) announced the acquisition of an asset bundle that includes producing wells. This package will be called Project Longhorn in the Permian basin, Texas.
The company’s assets currently yield 300 barrels per day across 32 wells. It expects to double these volumes by the end the year with seven wells being rehabilitated. This programme will begin in March.
By @ABMckinley
