focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
Shell suspends red sea shipments indefinitely if things continue or escalate we could see $100 oil and stronger gas prices in Q1, the supply disruption is real it will be interesting to see how oil and gas equities respond to this in the next few days and weeks as supply concerns continue to mount.
https://www.wsj.com/world/middle-east/shell-suspends-red-sea-shipments-amid-fears-of-more-houthi-attacks-c7fa936d
After the commissioning of Dangote refinery looks like Port Harcourt refinery is also due to come online.
https://www.reuters.com/markets/commodities/nigeria-seeks-operators-state-owned-port-harcourt-oil-refinery-2024-01-15/
Looks Like Shell has sold it's onshore Nigerian assets to Renaissance, a consortium of five companies for up to $2.4 billion. Renaissance is made up of ND Western, Aradel Energy, First E&P, Waltersmith and Petrolin.
https://www.reuters.com/markets/deals/shell-agrees-sell-its-nigeria-onshore-oil-gas-business-2024-01-16/
Again from the list of names in the consortium it seems like african independents are always the preferred buyers for the sellers, as governments are likely to approve deals involving local independents and foreign independents. I still remain of the opinion that foreign independents will find it extremely hard to close deals in africa the real winners for african divestments from majors will be local African independents.
Let’s hope we have done some leg work at summit alongside being silver sponsors can see savannah applying for a few licences in upcoming bid rounds
https://energycapitalpower.com/oil-gas-bid-rounds-imminent-announces-libya-summits-finance-panel/?utm_content=278415192&utm_medium=social&utm_source=twitter&hss_channel=tw-3468678856
Interesting to see savannah energy tagged to this particular session by a linked in post from energy capital and power. Could we line up a renewable project in Libya ?
https://www.linkedin.com/posts/energy-capital-power_lees2024-oilandgas-energy-activity-7152280083725004800-ysav?utm_source=share&utm_medium=member_ios
We are silver sponsors this week at Libya energy weekend summit this weekend . Let’s hope we are sponsors of actual substance and it means something in terms of partnerships rather than sponsors to just fill our time
https://x.com/energycappower/status/1746191920185966663?s=46&t=bdVeLrGB139mDog1SFRNlw
https://x.com/energycappower/status/1746191920185966663?s=46&t=bdVeLrGB139mDog1SFRNlw
Just a thought but Canadian oil and gas companies are seriously discounted at the moment. Surely if we were not so stringent on Africa oil and gas M&A it would be a pretty decent place to look for assets
If we do get an extension i think they should just go for a bigger extension like end of March, April or May rather than till the end of Feb 24.
A bigger extension just stops unnecessary debate and better manages expectation rather than progressive incremental extensions.
Https://x.com/dangotegroup/status/1745946178410144097?s=46&t=bdVeLrGB139mDog1SFRNlw
Looks like the dangote refinery has finally commenced
https://www.bloomberg.com/news/articles/2024-01-13/why-nigeria-s-new-oil-refinery-is-being-called-a-game-changer?leadSource=uverify%20wall
Looks like Nigeria is providing tax incentives for investors in the gas sector..
https://businessday.ng/opinion/article/nigerias-gas-sector-and-the-role-of-tax-incentives-in-stimulating-economic-growth/
Rockyride - I think post people frustration is not to do with M&A and deals i.e south sudan. But mainly to do with lack of BAU updates, the company could do a better job in keeping the investor base appraised on BAU activities, if they did that than many would be happy to wait for as long as it takes for M&A deal closure.
Niger - https://fluidhandlingmag.com/news/new-niger-benin-pipeline-set-to-deliver-barrels-of-crude/
Interested to see what they plan to do with Niger will they be aggressive we know that the port in Lome is open and Togo through Burkina Faso corridor is open for goods into Niger. Have they explored this option to get equipment into Niger ?
Rockyride - As much as the timelines have stretched if it means that we are still on a successful deal path and we extend to 31st March 2024 than by all means I am happy to buy into further extensions with limited information, but if there aren't any binding assurances and extensions based on hope rather than actual substance of definite binding agreements than there will come a point where a sensible choice will have to be made.
Longshort - My thoughts exactly takeover the assets for now and cede control over a number of years once the south sudan government and Nilepet have built up capacity...................
It would seem illogical to sit at the table for over 14 months and not get any deal in south sudan, even if it's 50% of Petronas current assests in south sudan........
But we will never know until we hear something from Savannah
Certainly is one thing I find very interesting is no one from government since the deal has ever commented publicly or mentioned the name savannah which is complete strange even.............
I would have expected some sound bites whether postie or negative mentioning Savannah. The information is some what strange...............