Energy crunch could lift oil to $US100 a barrel

Surging demand for transport fuel against the backdrop of record high natural gas and thermal coal prices has lifted US oil to its highest level in seven years as concerns of insufficient supply grip markets.

West Texas Intermediate crude oil futures hit $US80 a barrel for the first time since 2014 on Friday, while the Brent crude price climbed 0.5 per cent to $US82.39 a barrel.

The momentum behind the boost in oil prices has forced strategists to reassess their forecasts as they move to price in growing tightness across markets in the fourth quarter of this year.

Valeura Energy Inc (LON:VLU) is an upstream oil & gas company, with a clear strategy to add value for shareholders. The Company has a strong balance sheet positioning it for potential inorganic growth opportunities in the near/medium-term, and substantial longer-term upside potential through an operated deep, tight gas play. 

Click to view all articles for the EPIC:
Or click to view the full company profile:
Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Valeura Energy

More articles like this

Valeura Energy

Oil prices rise

Oil prices have risen after a tanker owned by an Israeli billionaire was hit by a drone carrying a bomb off the coast of Oman. The attack on Pacific Zircon, which is owned by Idan Ofer and operated by

Valeura Energy

Valeura lets rig contract for Gulf of Thailand drilling

Valeura Energy Inc., Calgary, has let a contract to Petrovietnam Drilling and Well Service Corp. to charter the PV Drilling I jack up drilling rig to support its Gulf of Thailand operations in 2023. The rig is expected

Valeura Energy

Valeura Energy retains drilling rig in Thailand

Valeura Energy (VLE) has chartered a jack-up drilling rig to support its Gulf of Thailand operations. The Calgary-based oil and gas company is scheduled to start next year. The PV Drilling I rig is expected to mobilize to the Wassana

Valeura Energy

Valeura Energy Thailand drilling rig contract

Valeura Energy Inc (TSX:VLE), the upstream oil and gas company with assets offshore Gulf of Thailand and the Thrace Basin of Turkey, has announced that it has agreed with Petrovietnam Drilling and Well Service Corporation to charter the PV

Valeura Energy

Oil price rise

Oil prices rose more than 1 per cent on Tuesday, after plunging to nine-month lows a day earlier, amid indications that producer alliance OPEC+ may enact output cuts to avoid a further collapse in prices. Brent crude futures

Valeura Energy

Oil prices advance

Oil prices rose in volatile trade on Tuesday as worries about tight fuel supplies ahead of winter offset investor concerns about lower demand in China, the world’s biggest crude importer, and further increases in U.S. and European interest

Valeura Energy

Oil prices rise on world markets

Oil prices have increased on the world markets. On London ICE (InterContinental Exchange Futures) cost of the Brent crude oil rose $2.01 to trade at $95.03, while the price of the Light crude oil at the NYMEX (New

Valeura Energy

Oil prices climb

Oil prices climbed on Friday on expectations that OPEC+ will discuss output cuts at a meeting on Sept. 5, though concern over China’s COVID-19 curbs and weak global growth continued to limit gains. Brent crude futures rose $2.72,

Valeura Energy

Oil climbs as Saudi Arabia warns of OPEC output cuts

Oil rose on Tuesday as renewed concerns over tight supply dominated market sentiment after Saudi Arabia warned that the major oil producer could cut output to correct a recent oil price decline. Brent crude gained 42 cents, or

Valeura Energy

Thrace Basin tight gas play

Substantial potential upside value Valeura identified the potential for a deep tight gas play early in its entry into the Thrace Basin. Based on this thesis, the Company acquired the Banarli Exploration Licence in 2013 (adapted to two

Valeura Energy

Valeura Energy: Why Thailand?

Prospectivity Proven petroleum systems Relatively benign offshore operating conditions in shallow water Mid-life fields with opportunities to extend field life through infill drilling and step-out exploration Remaining undeveloped oil accumulations Ongoing deal flow including exit of majors IOCs

Valeura Energy

Oil prices surge

Oil prices rose on Thursday as supply concerns triggered a rebound from multi-month lows plumbed in the previous session after US data signalled weak fuel demand. Brent crude futures rose 42 cents, or 0.4 percent, at £79.98 ($97.20)

Valeura Energy

Global oil prices rise

Oil prices rose on Tuesday for a second day on increasing concerns about tightening European supply after Russia, a key oil and natural gas supplier to the region, cut gas supply through a major pipeline. Brent crude futures

No more posts to show