Oil and gas press monitor. OPEC basket price at US$74.14/bl, 23 June. 2023
London, 26 June, 2023, (Oilandgaspress) : Growth in EV sales can only be sustained if charging demand is met by accessible and affordable infrastructure, either through private charging in homes or at work, or publicly accessible charging stations,” the IEA said in its reports. OPEC chief says Crude oil demand is set to rise to 110 million barrels daily by 2045, which would be a 23% increase from current levels. Everyone agrees that demand for oil from the petrochemicals industry will continue to rise over the medium term, even as Electric Vehicle’s popularity begin to undermine demand for fuels.
Annual General Meeting Chief Executive’s and Chair’s Statements
Randy Neely, Chief Executive of Capricorn Energy PLC and Craig van der Laan, Non-Executive Chair, will make the following statements at the Company’s Annual General Meeting for shareholders today at noon. Companys strategic review continues but we have achieved a good level of progress in a short time. We expect the review to be completed in September and will provide details on our conclusions accordingly. Our collective experience and strong relationships in the Egyptian oil and gas industry positions us well to maximise value for our shareholders. The Company will announce half year results on 7 September 2023. Read More
Africa Oil Corp. announces that Keith Hill, President and CEO, has informed the Board of his intention to step down from his executive role at Africa Oil. Mr. Hill has led the Company for more than fourteen years and has presided over major milestones, including the Prime Oil & Gas acquisition and the Venus oil discovery offshore Namibia. Under Mr. Hill’s leadership, Africa Oil has grown from a junior explorer to a full-cycle upstream company, and he leaves it in a very strong position, poised for continued future growth.
The Company is pleased to announce that Roger Tucker will join Africa Oil to succeed Mr. Hill as the new President and CEO. Dr. Tucker has a distinguished international oil and gas career with extensive experience of running and developing businesses in multiple and varied international environments. His career is characterized by significant value-creation in businesses ranging from independents, multi-nationals and state-owned companies. He was Senior Vice President Europe, for BG Group; CEO of African Arabian Petroleum Ltd., and Latitude Energy; Managing Director of Yukos Oil; and President LASMO Venezuela and a member of LASMO’s Group Executive Committee. More recently he was Chairman of Viaro Energy and has experience in private equity through Senior Partner-level positions at Prostar Capital and Vanwall Capital. He is currently a Non-Executive Director of PetroTal Corporation.
Mr. Hill has agreed to remain on the Board as a Director of the Company with Dr. Tucker also joining the Board as a Director. The handover will take place on September 5, 2023, and Mr. Hill will continue to lead the Company until that date. Read More
Apeiron Bioenergy ,a leading integrated global player in bioenergy, raised S$50 million on Friday, 23rd June 2023, through the landmark issuance of a 5-year senior unsecured green bond guaranteed by Credit Guarantee & Investment Facility, a trust fund of the Asian Development Bank (“CGIF”), and an ASEAN+3 initiative to develop local currency bond markets. Rated AA by S&P Global Ratings, the privately placed bond was well-received by investors and was oversubscribed despite a challenging macro environment. The green bond was issued at par and bears a coupon rate of 4.487% with HSBC as the sole lead manager.
The proceeds will be applied towards capital expenditure and asset improvement for collection points and pre-treatment facilities of waste-based feedstocks like used cooking oil (“UCO”) in the Philippines, Thailand, and Vietnam. The remainder will be used for general working capital requirements. The utilisation of proceeds will be guided by Apeiron’s Green Finance Framework endorsed by Sustainalytics, demonstrating the company’s commitment to integrating environmental, social, and governance factors into its operations. Read More
| Oil and Gas Blends | Units | Oil Price $ | change |
| Crude Oil (WTI) | USD/bbl | $69.60 | Down |
| Crude Oil (Brent) | USD/bbl | $74.41 | Down |
| Bonny Light | USD/bbl | $73.49 | Down |
| Saharan Blend | USD/bbl | $73.90 | Down |
| Natural Gas | USD/MMBtu | $2.76 | Up |
| OPEC basket 23/06/23 | USD/bbl | $74.14 | Down |
Baker Hughes Rig Count
U.S. Rig Count is down 5 from last week to 682 with oil rigs down 6 to 546, gas rigs unchanged at 130 and miscellaneous rigs up 1 to 6.
U.S. Rig Count is down 71 rigs from last year’s count of 753 with oil rigs down 48, gas rigs down 27 and miscellaneous up 4.
The U.S. Offshore Rig Count is down 1 to 19, up 3 year-over-year.
Canada is up 10 to 169 rigs.
Canada Rig Count is up 10 from last week to 169, with oil rigs up 7 to 110, gas rigs up 3 to 59.
Canada Rig Count is up 15 rigs from last year’s count of 154 with oil rigs up 6, and gas rigs up 9.
| Region | Period | Rig Count | Change |
| U.S.A | 23 June 2023 | 682 | -5 |
| Canada | 23 June 2023 | 169 | +10 |
| International | May 2023 | 965 | +18 |
Seadrill Limited today announces that it is in active discussions to sell (i) the jack-up rigs known as the West Castor, West Telesto and West Tucana (the “Qatar Jack-Up Fleet”), which are bareboat chartered by Seadrill to Gulfdrill LLC (“Gulfdrill”), a 50:50 joint venture between Seadrill and Gulf Drilling International, and (ii) Seadrill’s 50% equity interest in Gulfdrill. Seadrill has not reached agreement yet on material terms, including price, with any potential purchaser. Any transaction remains subject to additional due diligence and the negotiation and execution of definitive agreements. There is no certainty at this stage that the process will continue or that a transaction will materialize. This announcement is considered to contain inside information as defined in article 7 of the EU Market Abuse Regulation, is subject to disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act, and was made public by Simon Woods at Hawthorn Advisors on the date and time stated above. Read More
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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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