The Market, Energy, And Political Page, T+1 -- Wednesday, November 7, 2018

Top energy story overnight? China's bid to take large stake in Rosneft fails. This speaks volumes about the state of China's economy. It would have been a big story -- but pretty much unreported -- had China acquired that stake in Rosneft. Instead, it's a big, big story. Link here. Data points:

• a $9 billion stake in Russia's state-run oil producer came on the market
• it was expected that China's CEFC Energy Co would grab it
• at the "last minute", CEFC begged out -- and "begged" might be the exact right word -- it's got a huge problem with debt
• Qatar Investment Authority swooped in to take that stake
• Qatar Investment Authority: Qatar and the mining giant Glencore Plc
• deal cements Doha's links with Moscow
• Qatar facing isolation from Saudi Arabia; other Gulf countries
• Rosneft stakeholders:
• Russia, 50%
• UK, BP: 20%
• Qatar: 19%
• Rosneft: 
• produces 4.5 million bopd 
• produces more oil than any other publicly traded company in the world

Qatar: posted earlier this morning, this link to a Bloomberg story on Qatar and quest to become world's natural gas king. Data points:

• exports 77 million tons of natural gas annually
• accounts for 26% of global supply of natural gas
• plans to boost exports to 110 million tons by 2025
• exploring for natural gas around the world, including Morocco, Cyprus, elsewhere
• now has a $320 billion sovereign wealth fund
• has won rights to the 2022 soccer World Cup
• BMOC: Saad Sherida Al-Kaabi or simply "Al-Kaabi"

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Politics: could not have worked out better. The face of the US Congress: Maxine Powers and Nancy Pelosi.

Coal? I thought we had seen the last of coal in New England. But for the first time in a long time, I see "coal" back on the ISO New England charts. Link here:

China: some nice data points in this article for the archives. Nothing that hasn't been said before.

Shale oil: for Art Berman. Nothing that hasn't been said before. Story over at oilprice.

Investing 101: MLPs. Again, story over at oilprice.