That Ban On Leasing On Federal Land? Not So Much -- March 18, 2021

If logic prevails, pop quiz:

• prevailing theme: OPEC is in control of the price of oil this year;
• Saudi Arabia cannot survive on $60 oil
• Conclusion: fill in the blank -- ___________________________________________.

Hess: sells Danish assets to Ineos; link here;

• Ineos Energy will acquire Hess Corp subsidiary Hess Denmark for $150 million
• Ineos will acquire 61.5% of the Hess-operated South (Syd) Arne oil field in the Danish North Sea
• this will add to the 36.8% share Ineos already holds in the field:
• Ineos will also acquire 4.8% of Solsort field, which is already operated by Ineos
• lots of "green" talk in the article

Mexico: this was posted a few days ago; a prediction that Mexico would announce an oil discovery;

• such announcements are usually made about this time every year:
• generally, political announcements;
• folks not taking the announcement of the discovery very seriously;

Norway: Sweden's Lundin Energy sees growth in Sverdrup oilfield;

• Lundin is partnered with Norway developing this field
• production capacity from 2.2 billion to 3.2 billion boe;
• largest field in western Europe
• recoverable reserves already revised up several times since its startup in October, 2019;

 Natural gas: Henry Hub forwards hit two-month low as summer supply outlook turns bearish.

Shale: 0% growth, free cash flow, and inventory analysis.

Shale: first shale IPO in years leaves Wall Street unimpressed.

• Vine Energy Inc: 21.5 million shares for a total of $301 million;
• Plano, TX, based.
• Focus: natural gas, Haynesville
• planned: $16  - $19 / share IPO
• actual: $14 / share; raised $281 million
  

BLM: not Black Lives Matter. The other "BLM." BLM is now approving permits for Federal lands.

Scam: "blue hydrogen" is not green either; if anything, it's "brown"; link here;

• BP is going "green"
• BP will help the UK not use natural gas by using hydrogen made by natural gas
• which makes CO2 in the process

Vaccine: India, major vaccine producer may have trouble meeting demand; link here;

• who's to blame: the US
• why: US exports bans on specific items to make vaccines, such as specialized bags and filters
• source: BBC
• something tells me there is more to the story;

US steel:

• the south has risen again!
• the southern US has emerged as the nation's top steel-producing region in 2020;
• Alabama, Arkansas, Mississippi, and South Carolina;
  
• culminates a steady shift away from the traditional steelmaking rust-belt in the north
• coming up short: Chicago, Detroit, Cleveland, Pittsburgh;
  
• link here;

Politics: CNN has lost 47% of its primetime audience in the 25 - 54 age demographic since President Trump left office. Link here.