WTI (Nov) $60.13 +38c, Brent (Jan) $64.06 +43c, Diff -$3.93 +5c
USNG (Dec) $4.34 +2c, UKNG (Dec) 80.44p -0.79p, TTF (Dec) €30.965 -€0.275

Oil price

As the end of the US Government shutdown nears, equities went risk-off and equity markets rallied. Some markets, mainly bonds are closed today for Veterans Day but in oil the market rose modestly, world oversupply is still the watchword. 

Note that Shell has ditched plans for two offshore wind power projects in Scotland as it continues to scale back investments and involvement in the renewable area…

Serica Energy

Following the announcement on 13 October 2025 that it had signed an agreement to acquire the entirety of BP’s stake in the P111 and P2544 licences, Serica (AIM:SQZ) announces that one of the licence partners, NEO NEXT, has decided to take up its rights of pre-emption.

Chris Cox, Serica’s CEO, stated:
“While this outcome is of course disappointing, it was always known to be a possibility. Serica continues to actively pursue further M&A opportunities, as well as progress our attractive organic growth options, with a goal of diversifying the Company’s portfolio of assets, increasing production, and creating value for shareholders.“

Not really what Serica wanted but it was always open to pre-emption and so the M&A team are already on the next move, with the powerful combination of a strong balance sheet and tax shelter and a highly ambitious management team I’m sure it wont be long until we hear from them again. 

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