I read the first headline below and almost fell off the treadmill.
Biden to double the amount of natural gas the US will export to Europe.
- link here;
- Europe will need to import huge volumes of LNG in 2023 (that's next year) -- Trafigura, as reported by Charles Kennedy
- if Charles Kennedy's story is being published today, the Biden administration had to have known about this for weeks;
- Germany's off-shore floating LNG import teerminals delayed in construction -- just announced today --
Trafigura profits:
- link here;
- commodities trader Trafigura earned a record $7 billion in its last financial year;
- more than the previous four years combined;
Mexico crude oil production continues to fall;
- link here;
- Mexico: production estimated at 1.62 million bopd in November, 2022
- Mexico's quota per OPEC+ is 1.753 million bopd until December, 2023
- at the link, a great graphic regarding Russia output vs OPEC output the last two years;
Keystone pipeline shut down:
- links everywhere
- near the Kansas-Nebraska border, in Kansas
- company not releasing how much was spilled
Exxon to expand stock buybacks.
- link here;
- expand buyback plan to $50 billion;
- sees cash flow doubling by 2027;
Gasoline prices plummet to below-year-ago levels.
Transport prices fall at the fastest rate on record.
- link here.
- this whole inflation thing is looking more transitory than some would care to admit;
Russian oil:
- being held up in transit; D5S much more effective that originally thought;
- Urals grade oil, which accounted for about 60% of the Russia’s seaborne exports over the past year, traded at $43.73 a barrel on Wednesday, two days after D5S sanctions went into effect; link here;
- remember: only Russian seaborne oil is affected by the D5S sanctions; COBP is not at risk due to sanctions;
OPEC cuts:
- Gulf producers lead on OPEC+ cuts,
- Saudi crude output at 6-month low:
- OPEC production falls by 850,000 b/d,
- Saudi pumps 10.46 million b/d
- Non-OPEC boosts output by 150,000 b/d led by Kazakhstan, Russia;
- link here;
Investors:
- link here;
- UBS’s billionaire clients are betting on big gains from energy
- they’re also seeing opportunities in
- pharma,
- biotech, and
- software,
- with Asia Pacific excluding mainland China ranking as the top region.
- my "new money allocation":
- blue chip: 40%
- beat down tech: 25%
- energy (mostly US oil): 20%
- mRNA (mostly Big Pharma): 10%
- Daimler Truck: 5%
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