EU Oil & Gas Early Riser

J.P. Morgan's European Energy specialist commentary covers BP's failed North Sea asset sale to Ithaca, Subsea 7's new Gulf of Mexico contract, and rising oil prices amid Middle East tensions.

Key Takeaways

• 1.BP held advanced talks to sell its North Sea assets to Ithaca Energy for approximately £2 billion, though talks recently failed.
• 2.Subsea 7 was awarded a 'sizeable' contract ($50-150M) for the String Music development in the US Gulf of Mexico.
• 3.Oil prices (Brent) are rising towards $97/bbl as Middle East geopolitical tensions increase and optimism for a ceasefire wanes.

Table of Contents

• Key Newsflow
• JPM Global Energy Spec Sales Content
• Access
• Oil Macro and Flows
• Company News
• Macro News
• Global Oil & Gas Research
• Commodity Market Positioning & Flows
• JPM OFS and Equipment
• Cheniere, United States
• J.P. Morgan Global Oil & Gas Access
• Sector Calendar
• J.P. Morgan Global Oil & Gas Contacts