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Petrotal flows higher as it exports first oil from Brazil


Shares in Petrotal Corp (LON:PTAL) flowed up 4.9% to 13.9p in early trading after the company said it has completed the first export of Bretana oil into the Atlantic region through Brazil.

The AIM-listed firm said the initial shipment of 106,000 barrels will provide it with an additional option to monetise oil sales beyond its existing sales arrangements with Petroperu using the Northern Oil Pipeline, and to the Iquitos refinery.

Petroltal added that it will also facilitate future oil production growth when it continues development of the Bretana oil field, which is targeted to reach 20,000 barrels of oil per day in the first quarter of 2022.

Elsewhere, crypto mining firm Argo Blockchain PLC (LON:ARB) jumped 15.2% to 38p as the firm said it will co-lead an investment into Luxor Technologies, a management platform designed to maximise earnings for cryptocurrency miners.

The company said as part of the deal it will invest US$100,000 into Luxor, which the investee will then use to make several key engineering hires to strengthen the development of its hashrate management platform and build out its proof-of-work software infrastructure.

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