This never would have happened under the previous administration: utility costs going down! From InvestorVillage:
- utility rates doing down as much as 8% in the Pacific NW due to "glut" of natural gas
Confused. I have heard / read from multiple sources that the Permian was struggling. Today, there was more talk that US E&P operators would "soon" run out of "Tier 1" drilling locations which would cause problems for those in the Permian. And then, out of the blue, two companies focused on the Permian attracted the attention of CNBC mid-day:
- Alon -- now part of Delek
- Delek (DK)
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The Dow was up more 200 points at one point during the day.
NYSE, 191 new highs, including: BRK-B; Boeing; CAT; Polaris; RDS-B; Statoil;
- new lows, 46, including ATT (oh, my); Baker Huges a GE (BHGE) (oh, my); GE; Weatherford (WFT, oh, my)
- EW: down $7. Ouch.
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Hess: Selling Assets
Hess: Selling Assets
Link here; data points:
- will divest its subsidiary Hess Norge; sell statkes in Norway's Valhall and Hod fields: $2 billion
- will sell its offshore Equatorial Guinea: $650 million
- will sells its interests in Denmark's South Arne Field
Making America Great
US midwest oil refiners boost output, cut region's dependence on Gulf Coast-- Reuters, data points:
- midwest refiners banking on North Dakota oilfields
- oil trade maps are being redrawn
- in 2016, Midwest refining capacity rose to almost 4 million bopd, the highest annual volume on record
- DAPL: made a huge difference
- ten years ago, Midwest refiners a million bopd short
- the Midwest will go from being short roughly 500,000 bpd of gasoline this year to a surplus of roughly 200,000 bpd by 2030
- but, low demand for refined products in Midwest could be a problem
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