Thursday, December 8, 2022

Huge Energy Stories Today -- December 8, 2022

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%

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.