WTI (June) $62.79 +52c, Brent (June) $66.55 +43c, Diff-$3.76 -9c
USNG (May) $2.93 -9c, UKNG (May) 81.83p -0.97p, TTF (May) €33.175 -€0.99

Oil price

Oil will be slightly down on the week after the kerfuffle within Opec+ in which Kazakhstan still over produce and Russia are noticeably upping their rig count.

Pharos Energy

Yesterday I was able to interview Katherine Roe, CEO of Pharos Energy. In a wide ranging discussion we talked about operations in both Vietnam and Egypt in terms of production and longer term excitement. In the ten months since Katherine has been in charge at Pharos the company has had the TGT and CNV licences in Vietnam extended and hope that the 125 and 126 will also be in due course, at present the company are preparing to farm-out the exciting prospects.

Also in Egypt there is a discussion ongoing with regard to concessions and the company has strong capital discipline and growth strategy. The financial strength, along with robust balance sheet gives them the continued ability to pay dividends, the payout was up 10% at the year end. The prospects for Pharos are good and they remain in my Bucket List.

The link to the interview is below.

Core Finance CEO Interview: Katherine Roe of Pharos Energy

PetroTal Corp

PetroTal has announced the appointment of Ms. Denisse Abudinen to its Board of Directors, effective immediately. Ms. Abudinen will join PetroTal’s existing Directors in standing for re-election at the Company’s annual general meeting, which has been scheduled for June 19, 2025.

Background on Denisse Abudinen

Denisse Abudinen joins PetroTal as an independent, non-executive Director. She has a deep background in the global oil and gas, renewable energy, and petrochemical industries, having served in senior executive leadership roles around the world. Ms. Abudinen is currently the Vice President of Low Carbon Global Market Development for Methanex Corporation, based in Vancouver, Canada. Prior to joining Methanex, Ms. Abudinen was the Chief Executive Officer of ENAP Sipetrol (Egypt) in Cairo, Egypt. She began her professional career with ENAP (the Chilean National Oil Company) in 2007, graduating through progressively senior positions in the Exploration and Production business, including Head of Corporate Strategy and Business Development, and Head of the Upstream Business with operations in Argentina, Ecuador, Egypt and Chile. Ms. Abudinen has also worked with McKinsey and Company, based out of the firm’s Mexico City office as a Senior Client Development Advisor (LATAM).

Ms. Abudinen holds degrees in Civil Industrial Engineering (2006) and Business (2007) from the Pontificia Universidad Catolica de Chile, and a Master’s degree in International Management (2012) from King’s College London.

Manuel Pablo Zuniga-Pflucker, President and Chief Executive Officer, commented:
“I would like to join my fellow directors in extending a warm welcome to Denisse Abudinen. She brings a wealth of experience in the global oil and gas industry, that will strengthen our leadership as PetroTal focuses on executing its growth and development strategy.”

A strong appointment by PetroTal here and a great addition to the board.

Notice of Annual General Meeting

PetroTal is pleased to announce its 2025 annual general meeting of shareholders (“AGM”) will be held on June 19, 2025 at 10:00am MT/16:00 UK time.  The Company’s Management Information Circular and Proxy Statement in respect of the AGM is expected to be filed on www.sedarplus.ca and the Company’s website (www.petrotalcorp.com) by May 9, 2025.  Interested attendees will be able to join the meeting using the virtual link below.

meetnow.global/MF46HLN

Original article   l   KeyFacts Energy Industry Directory: Malcy's Blog