Gazprom has appointed Gerhard Schroeder, former German Chancellor, to its board of directors. This was in the midst of tensions between Moscow, Russia, and the West about whether Russia is planning to invade Ukraine.
Schroeder is also a member of Rosneft, Russia’s largest oil producer. He also heads the shareholders’ committee for Nord Stream (the Gazprom-controlled pipeline that transports gas from Russia to Germany).
Gazprom, the Russian gas giant, announced Friday that Russia intends to increase its gas exports to China by 48 billion cubic meters (bcm), per year through a new pipeline. The pipeline will deliver 10 bcm each year from Russia to the Far East.
Russia had previously planned to supply China with 38 billion cubic meters of oil by 2025, according to previous plans. It wasn’t immediately clear when Russia would achieve the 48 bcm bcm target.
U.S. energy companies added oil and natural gas drilling rigs this week for the fifth consecutive week. This was the first since November. Crude prices rose to a seventh week high, surpassing levels seen since 2014. Drillers are now looking for more oil.
Baker Hughes Co, an energy services company, stated that the oil and gas rig count, which is an indicator of future output, rose to 613 in the week to February 4, its highest level since April 2020.
Providence Resources PLC, (AIM: PVR). stated that it will proceed with a 2023 appraisal for Barryroe, an offshore project in Ireland.
The appraisal results would determine if production can be started in 2026. The appraisal plans are still subject to approval by the Dublin government.
Chariot Ltd, (AIM: CHAR) stated that it is excited about a new partnership with Total Eren. The joint venture partners will develop solar power in South Africa.
Tharisa and the partners have signed a Memorandum of Understanding (“MoU”) with Tharisa plc, the platinum group metals and chrome producer, listed on the Johannesburg and London stock exchanges, to develop, finance, construct, own, operate and maintain a solar photovoltaic (PV) project for the supply of electricity to the Tharisa mine, in the North West Province, South Africa.
i3 Energy plc (AIM: I3E) (TSX: ITE) announced that it is moving from a bi-annual to a monthly schedule for its dividend payments.
During the course of 2022, i3 will pay a minimum dividend totalling £ 11.827 million, representing a 7.1% yield at the closing price on February 2nd. This dividend will be divided and paid in 10 equal increments. i3’s board of directors will continue to monitor the quantum and scheduling of future distributions to ensure the Company remains aligned to its disciplined growth strategy while providing consistent shareholder returns.
i3 will declare its first monthly dividend during the first half of February for payment in March.
ATOME Energy (AIM: ATOM) with current projects in Iceland and Paraguay, is delighted to announce that SP Angel has initiated research on the Company
Atome Energy PLC is positioned to capitalise on the transformational growth potential of the global green hydrogen and ammonia market. The Company has secured enviable positions in Iceland and Paraguay, in close proximity to local infrastructure and pent-up demand. ATOME has already commenced operational planning, sourcing and negotiations with green electricity suppliers, equipment providers and offtake partners, including the entry into MoUs with a number of key partners.
The research is available on ATOME’s website at www.atomeplc.com.
AFC Energy (AIM: AFC) announced that Extreme E, the all-electric SUV racing series, will continue to use the Company’s zero-emission fuel cell for its 2022 season.
AFC Energy’s zero-emission, “L” Series hydrogen power generator was successfully used at all five races in the inaugural 2021 season to power the ODYSSEY 21 race vehicles in a variety of harsh operating conditions including in Saudi Arabia, Senegal and Greenland.
Victoria Oil & Gas Plc (AIM: VOG) Provided shareholders with a brief operations update for the fourth quarter of 2021.
The average daily gross gas sales rate for the quarter of 5.3 MMscf/d (up 6.0% on Q3 21: 5.0 MMscf/d) of natural gas, plus gross 5,584 bbls (Q3 21: 3,800 bbls) condensate was shipped to customers.
Roy Kelly, Chief Executive of Victoria Oil & Gas, commented: We are very pleased with the robust quarter that GDC achieved, despite a greater than expected number of maintenance shutdowns for its customers. Following the end of the quarter, 2022 has started very well with strong demand shown in the market.
MetalNRG PLC (LON: MNRG) Update on the Company’s EQTEC Italia Investment. Following the trading update released to the market by EQTEC plc (AIM: EQT) on 1 February 2022, the Company is pleased to provide an update on progress made at its investment project in Italy.
EQTEC is undertaking feasibility assessments now and expects to complete them in Q1 2022.
UK Oil & Gas PLC (AIM: UKOG) announce its planned 2D seismic acquisition over the target area and the trajectory of the proposed Basur-3 (“B-3”) mechanical sidetrack (“B-3S”) is now complete.
Drilling of B-3S is scheduled to commence upon receipt and interpretation of fast-track seismic processing results, currently expected within the first quarter of 2022.
Royal Dutch Shell stated Tuesday that it is rerouting oil supplies from other depots after a cyberattack on Marquard & Bahls’ two German subsidiaries earlier in the week.
Oiltanking Deutschland GmbH, and Mabanaft, a mineral oil dealer, were both affected by the attack, according to Monday’s Handelsblatt newspaper.
A spokesperson for Shell Deutschland GmbH stated that they could “reroute to other supply depots for now”.
Canadian Overseas Petroleum Limited (LON: COPL) announced “in-market” share purchases by Arthur Millholland, President and CEO.
Arthur Millholland, President and CEO has advised the Company of the purchase of 665,000 shares of the Company through the facilities of the CSE at an average price of $0.58/share, with a settlement of the purchases occurring between January 25th and January 28th, 2022.
Rockhopper Exploration plc (AIM: RKH) announced that Rockhopper, Harbour Energy plc (“Harbour”) and Navitas Petroleum LP (“Navitas”) have extended the provisions of the previously signed heads of terms (announced on 8 December 2021) from 31 January 2022 to 31 March 2022, with a view to signing definitive documentation on the transaction by this date.
Kistos (LON: KIST) announced that it has entered into a conditional asset purchase agreement and a conditional share purchase agreement with TotalEnergies S.E. to acquire a 20% interest in the Greater Laggan Area producing gas fields and associated infrastructure alongside various interests in certain other exploration licences, including a 25% interest in the Benriach prospect
The oil markets opened higher this week and are heading for their largest January gain in at least thirty years, as strong demand outpaced new supply.
- Brent sees a 17% increase in January, the largest monthly gain since February 2021
- Prices rose by 17% in January.
The global crude oil benchmark increased 0.8% to paring earlier gains but is still on track for 17% growth this month. West Texas Intermediate futures traded above $17 a barrel.
MetalNRG plc (LON: MNRG) announces that it has filed and served civil legal proceedings in the English High Court against BritENERGY Holdings LLP (the “LLP”), Pierpoalo Rocco (“Mr Rocco”) and BritNRG Limited (the “Joint Venture Company”) (together with the “Defendants”) for, inter alia, a declaration and the recovery from the Defendants of monies paid to the LLP in 2021.
Following Mr Rocco’s resignation as a director of the Company, announced by the Company on 25 October 2021, the Company has also terminated Mr Rocco’s service agreement, as an employee, for cause, following an open and robust disciplinary process which, despite making written representations, Mr Rocco declined to attend. Mr Rocco has subsequently appealed the decision.
