ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for discussion Register to chat with like-minded investors on our interactive forums.

ENGI Energiser Investments Plc

0.65
0.00 (0.00%)
Last Updated: 00:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Energiser Investments Plc LSE:ENGI London Ordinary Share GB00B06CZD75 ORD 0.1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.65 0.60 0.70 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Energiser Investments Share Discussion Threads

Showing 276 to 299 of 3125 messages
Chat Pages: Latest  17  16  15  14  13  12  11  10  9  8  7  6  Older
DateSubjectAuthorDiscuss
28/11/2016
09:56
(BCE) - Bryan Garnier reiterates its recommendation to buy Engie and lowers its fair value from 17 to 15.6 euros, in the wake of a lowering of its 2016-18 estimates for Energy group.

After the nine-month results, the financial intermediary slightly adjusts its EBITDA assumptions for 2016 and beyond, as well as those for minority interests and tax rates, which implies a more severe reduction in its EPS projections .

Bryan Garnier now expects Engie's recurring net income to remain broadly stable over the period (+ 0.7%) over the years 2016-18, when it anticipated an average annual growth of 3 , 9% previously.

"Nevertheless, we still believe that the ongoing transformation plan could pave the way for a significant upgrade of the title, with a divestment of exploration-production remaining the main catalyst in the short term," the dealer tempers.

sarkasm
25/11/2016
19:24
ENGIE Romania strengthens its position in the energy services field

By nineoclock • November 23, 2016 at 10:30 am 42 views

nineoclock

1 Likes
Comments Disabled
Print

Tags
ENGIE Romania strengthens its position in the energy services field

ENGIE Romania, through its subsidiary ENGIE Servicii, has acquired Cofely Building Services & Maintenance which will soon become „ENGIE Building Solutions SRL”.

The energy market being more dynamic than ever and the energy transition leading to rethink the traditional business models of utility companies, ENGIE Romania is continuously adapting its business strategy in order to meet customers’ expectations of being an integrated supplier of energy and associated services.

Thanks to the acquisition of Cofely Building Services & Maintenance SRL – which was held so far by Cofely Austria, another ENGIE subsidiary – ENGIE Servicii will broaden its offers and expertise via an energy services company present in Romania since 2005, with a large expertise in energy services for buildings and industrial sites and in energy efficiency services for industrial customers. Among its customers are reputable companies such as OMV Petrom, BRD Société; Générale or Kaufland, all the customer portfolio being served today by approximately 100 employees.

ENGIE Servicii (formerly Distrigaz Confort), a company created in 2009, is a reference player on the local energy services market. Specialized in technical services for gas installations and boilers, the company has today 650,000 customers. Since its establishment, the company has been continually developing and diversifying its services, spanning from check-ups and revisions of gas installations and heating systems solutions to digitalized energy efficiency services that optimize energy consumption of our customers.

,,This operation proves our ambition to further develop energy services activities in Romania. By bringing together the customers portfolio, the services and the skills of the two companies, we will undoubtedly strengthen the position that we hold today on the Romanian energy services market and build a platform for growth”, stated Eric Stab, Chairman & CEO of ENGIE Romania.

ENGIE is active in Romania in three areas: gas, electricity and energy services. The main subsidiary of the Group, ENGIE Romania, supplies natural gas and electricity, distributes natural gas, offers energy related services to all market segments and also produces electricity. ENGIE Romania serves more than 1.6 million customers, operates 18,500 km of networks, owns and operates 100 MW wind farms and employs around 3,650 people.

the grumpy old men
24/11/2016
13:13
ENGIE thread now reallocated to correct epic not conflated with ENGI (Energiser)
the_alchemist
22/11/2016
15:23
GOOGLE TRANSLATION


The energy company will launch gas and electricity deals for British individuals.

The British market appeals to Engie. The tricolor energy company is preparing to invest in the market for gas and electricity supply in the UK to individuals. "We are in a phase of finalizing the offers, the official launch will take place in 2017," says an Engie spokesperson. Engie will enter a market dominated by the Big Six (British Gas, SSE, E.ON, EDF Energy, Scottish Power and RWE). These large groups still control a little more than 85% of the market for the supply of electricity today, but their oligopoly is gradually crumbling under the offensive of new entrants that Enge will join.
PUBLICITY
InRead invented by Teads

Instead of the Big Six is ​​controversial, with some arguing that competition is not sufficiently strong. The Prime Minister, Theresa May, attacked the sector last month in a speech. "It is not fair for two-thirds of customers to be stuck with the most expensive tariffs," she said. Conservative MPs are calling for energy providers to automatically benefit their most modest tariff customers Which would be most favorable to them. The regulator proposes that the change of supplier is facilitated.

Engie is already firmly established in the United Kingdom, with 17,000 employees. On the production side, the group has 4 gigawatts of electricity generation (hydropower, gas and wind). It is also present in oil and gas exploration and production, and plans on a nuclear project, while wishing to reduce its share (40% today).
Logical sequence

In the downstream market, Engie is mainly developed in energy efficiency services since it bought the British Balfour Beatty Workplace in 2013. With 9,000 people to join the 2,000 Cofely employees in the UK, Was to allow Engie to occupy the third place in the sector. The supply of gas and electricity to customers is therefore the logical consequence of this presence. Engie is already established in the "B to B" market, with 4,500 sites served in gas and 8,500 in electricity.

The UK market is currently poorly oriented. In the first nine months of the year, organic revenue EDF Energy fell by 10.4% to 6.8 billion euros. This decline is "mainly due to the particularly low prices," said the French electrician. But it still ranks number one in sales of gas and electricity by volume in the United Kingdom in all markets (residential and professional), with 5.2 million customers, compared with 5.7 million in 2013.
V. L. B. with C. V. London., Les Echos

Learn more about

waldron
22/11/2016
15:22
yep shame you cant delete EPIC TO AVOID THE MINOR CONFUSION

ALC MAKE THE THREAD YOU USE A FAVOURITE TO AVOID STRAYING ON THIS HIGHLY
APPRECIATED THREAD

waldron
22/11/2016
15:09
The bb has been operating perfectly over the past year without mishap

shame i cant delete the epic though

i see not many posting to your favourite BB

i guess its another illiquide AIM share still to show its worth

grupo guitarlumber
22/11/2016
15:03
but wrong code for the company you post on !! Energiser (ENGI) is not ENGIE !!!!!!
Please use the correct board, thanks.

the_alchemist
22/11/2016
14:55
Home » News » M&A Alert. ENGIE Romania buys Cofely Building Services&Maintenance
M&A Alert. ENGIE Romania buys Cofely Building Services&Maintenance
By Business November 22, 2016 13:12 0 comments
"Eric Stab FIC"

inShare2

Email
Print
Bookmark

ENGIE Romania, via its subsidiary ENGIE Servicii, has purchased Cofely Building Services&Maintenance to create ENGIE Building Solutions SRL.

Through the purchase of Cofely Building Services & Maintenance SRL from Cofely Austria, a company affiliated with ENGIE that has been active on the Romanian market since 2005, ENGIE Services will diversify the range of activities, a press statement by the company informs. Moreover, the company is aiming to enlarge its expertise with energy services for buildings and industrial spaces as well as services designed to make energy consumption more efficient for industrial clients.

The portfolio of clients of Cofely Building Services&Maintenance SRL includes OMV Petrom, BRD Societe Generale and Kaufland. The company employs around 100 staff.

ENGIE Servicii, previously known as Distrigaz Confort, was created in 2009. The company, specialized in technical services for natural gas installations and central heating, has a portfolio of 650,000 clients.

“This transaction is the proof of our ambition to continue the development of energy services in Romania. The unification of the portfolio of clients and services as well as of the expertise of the two companies will contribute, without a doubt, to the consolidation of the position we have on the market of energy services in Romania and to the creation of a potential for development,” Eric Stab, CEO and President of ENGIE Romania.

grupo guitarlumber
22/11/2016
14:03
the al


mostly used for and by serious engie posters

grupo guitarlumber
22/11/2016
13:46
La Forge
this is Energiser (engi) thread not ENGIE!!!

the_alchemist
21/11/2016
21:51
translation google

Tradingcentral.fr - 3 hours ago

Share

Companies:

ENGIE

On the last 5 days, the title has changed little, losing 0.6%. Since the beginning of the year, it is down 29.43%.

From the point of view of the technical analysis: the RSI is less than 30. This may indicate a stock in a strong bearish trend or rather in a oversold state and therefore a recovery is necessary (monitor discrepancies). The MACD is less than its signal line and negative. The pattern is bearish in the short term. Finally, the stock is below its moving average 50 days.
Note that volumes have been rising for a few days.

Graphically: Resistance levels are on: 11.7 then 11.9. While the next media are on: 10.7 then 10.5.

Our preference: ENGIE (ENGI) (ENGI) is bearish as long as 11.9 is resistance.

The invalidation point of our scenario is located at: 11.9.
Reference price: 11.5.
Copyright 1999 - 2016 TRADING CENTRAL

la forge
21/11/2016
19:12
Engie plans entry into UK home power market
By Diarmaid Williams
International Digital Editor

Paris-based Engie has announced its intention to enter the UK household power market in 2017.

FT reports that Engie plans to build its own consumer brand as an extension of its business supplying power to British businesses.
Engie
In a sign of its ambition, Engie has recruited a panel of high-powered advisers, including Sir Michael Rake, chairman of BT, Sir Ed Davey, former energy secretary, and Lord Kerslake, former head of the civil service, to help it transition to market.

The company would focus on adding value to basic gas and electricity supplies, CEO Wilfrid Petrie said, including technology to help customers increase energy efficiency. “There is more value for us in helping manage energy demand than in supplying the energy itself,” he added.

Engie already operates a hydroelectric power station in Snowdonia and is part of the consortium planning to build a new nuclear power plant near Sellafield in Cumbria.

Mr Petrie said the UK’s vote to leave the EU had not changed Engie’s enthusiasm for Britain. “It’s still a country with 60 million inhabitants with a major economy,” he said.

la forge
21/11/2016
19:10
PARIS--Total SA (TOT) said Monday it had signed a deal to develop the natural gas field of Absheron discovered in Azerbaijan in 2011.

The French oil major agreed with Azerbaijan's state oil company SOCAR to carry out the first phase of production of the field, which will ultimately yield as many as 35,000 barrels of oil-equivalent a day.

Total will operate the field and take a 40% stake. SOCAR will also take a 40% stake, while French power utility Engie SA (ENGI.FR) will hold the remainder.

Total didn't disclose the amount the joint venture would invest in the field.

In response to the oil price collapse, Total has said it will boost hydrocarbon production in existing projects and only conduct new projects that will be cheap and fast to develop.



-Write to Inti Landauro at inti.landauro@wsj.com



(END) Dow Jones Newswires

November 21, 2016 09:47 ET (14:47 GMT)

la forge
20/11/2016
10:44
The Sunday Times: The former boss of Centrica, Sam Laidlaw, is closing in on a blockbuster takeover of one of the largest operators in the North Sea; Neptune Oil & Gas, the investment vehicle that Laidlaw set up last year after leaving the British Gas owner, is in advanced talks to buy the French titan Engie’s 70% ownership stake.
la forge
19/11/2016
09:55
Orange and ENGIE pursue their commitment to the electrification of rural Africa
17-11-2016 10:00:00 | by: Andrea Ayemoba | hits: 680 | Tags: Orange
, ICT
, Telecom
, Energy

Orange and ENGIE have today launched a plan to deploy nearly 1,000 solar kits in Senegal, Côte d'Ivoire and Cameroon. Several villages in rural areas have been identified to participate in the first phase of this pilot program, prior to deployment on a larger scale.

The kits include a solar panel connected to a battery that can be used to provide domestic appliances with electricity. They also contain a remote control solution and a mobile payment system, providing a decentralized source of renewable electricity to homes that are not connected to the grid. The solar kits can be used as a lighting solution with LED lamps, to operate small electrical appliances (radio, television, etc.) or to recharge mobile phones.

This equipment offers an alternative solution, at low cost, that can replace petroleum lamps, disposable batteries or diesel-powered devices, which are all potentially dangerous pollutants.

Within the framework of this partnership, ENGIE will supply the solar kits through BBOXX and Fenix International, both of which are companies that have worked with ENGIE for several years and that have become references in the supply of solar-powered equipment. ENGIE will also take responsibility for the installation and maintenance of the equipment. Orange will ensure the commercial deployment and management of billing via "Orange Money". The service will allow customers to pay rent for the use of the equipment, allowing them to pay by instalment rather than through an upfront investment. In addition, this mobile payment system offers customers a simple and secure way to pay remotely, thus avoiding the need to travel long distances with cash.

Access to energy is a major challenge for the African continent. Around 90% of the population of sub-Saharan rural Africa does not have access to the electricity grid. In this context, Orange and ENGIE signed an agreement in 2015 to collaborate on ways to develop the electrification of rural areas and to optimize the supply of electricity to telecoms infrastructure in Africa. During the COP22 conference, Orange and ENGIE reaffirm their commitment to leveraging their technological expertise to stimulate sustainable progress and economic and social development on the African continent.
ENGIE in Africa

ENGIE has been present in Africa for over 50 years, where it operates in the fields of electricity, natural gas and services. ENGIE has a cumulated energy capacity of approximately 3,000MW across power plants in operation or under construction. ENGIE is also working on decentralized electricity production for isolated companies and rural villages in order to achieve the global goal of providing 20 million people with electricity by 2020. The Group is also researching opportunities for the deployment of home solar systems and mini-grids, as well as its policy to promote the use of solar energy to power telecoms towers in areas not connected to the electricity grid.
ENGIE is also present through its solidarity investment fund, “ENGIE Rassembleurs d'Énergies221;, which invests in sustainable energy access projects for vulnerable populations.
Orange in Africa

Orange is present in 21 countries in Africa and the Middle East where, at the end of September 2016, it had 113 million customers. With annual growth of around 5%, the continent represents an important part of the Group’s international development strategy.
The Group’s mobile money service, Orange Money, enables customers - including those who do not have a bank account - to use their mobile phone to easily carry out a wide range of financial services such as money transfers or the payment of bills. This service, which was first launched in Côte d’Ivoire in 2008, is now available in 16 countries and is used by over 20 million customers.

www.orange.com

la forge
18/11/2016
08:54
I took a bit of a sore loss here a while back, luckily made up for it with Sony.Anyone still in? I would consider buying in sub €10
wipo1
16/11/2016
22:34
Engie: is selected for 9 projects Territoires Hydrogènes
FR0010208488

Published on 16/11/2016 at 18:44

(Boursier.com) - Engie is a partner of 9 projects labeled as part of the public authorities' call for projects' Territoires hydrogènes' (AAP). Within the framework of New France Industrial to build the industry of the future, the State launched last May a call for projects to catalyze the deployment of the hydrogen sector in France, a sector that presents important issues for the industry, Industry, energy transition and green growth.

Of 57 projects (out of 98 territories) registered in France, 29 projects have been labeled, 9 of which Engie is associated through its various entities in the French regions. These files aim to demonstrate, on a territorial scale, the technical and economic feasibility and the environmental interest of hydrogen associated with energy networks and local energy uses.

Hydrogen, which will be produced mainly by renewable electricity, is one of Engie's levers of the future to accelerate the energy transition. The Group works on three axes of development: industrial uses, mobility and hydrogen as an energy vector. In each of these segments, the Group develops solutions, forges partnerships and explores innovative technologies. The winners of the call for projects will be supported by various public funding bodies (ministries in charge of Sustainable Development and Industry, CGI, ADEME, BPI France, Caisse des Dépôts et Consignations) To realize their projects. The labeled projects will be eligible for funding within 4 years of their validation.

waldron
15/11/2016
07:39
OLD NEWS NOV 2015

PARIS--Shares in Suez Environnement SA (SEV.FR), the French water and waste-management giant, jumped more than 5% on Tuesday amid speculation that parent company Engie SA might be about to make a multibillion-euro bid for the shares it doesn't already own in the group.

Engie has enlisted banking advisors to investigate the deal, according to a report in La Lettre d'Expansion, a business newsletter.

Engie, formerly known as GdF Suez, spun off Suez Environnement at the time of its creation through the merger with state-controlled gas utility Gaz de France and retains a 33.7% stake in the business.

Engie and Suez Environnement declined to comment.

The possibility of a bid fired up demand for shares in Suez Environnement, though some analysts were skeptical of the benefits for Engie.

Taking full control of Suez Environnement would make little sense, said analysts at brokerage house Bryan Garnier. They said Engie, buffeted by low wholesale power prices in Europe and slowing economic growth in emerging markets such as Brazil, focuses on liquefied natural gas and emerging economies, which makes for a poor fit with Suez Environnement's largely municipality-focused water and waste-treatment business.

Suez Environnement share were up 5.6%, valuing the group at 9.80 billion ($10.46 billion) at around 1115 GMT.

Shares in Engie were up 1.3%, valuing the group at EUR39.12 billion.



Write to Blandine Henault at blandine.henault@wsj.com



Subscribe to WSJ:

(END) Dow Jones Newswires

November 17, 2015 07:04 ET (12:04 GMT)

grupo
13/11/2016
20:32
PARIS--Engie SA (ENGI.FR) lowered its outlook for profit this year after weak natural gas and electricity prices in addition to slack weather-related demand in France, the power utility's main market, led to an 11% drop in nine-month revenue.

Engie, whose activities include nuclear-power plants in Belgium and hydroelectric dams in Brazil, said net recurring income--a measure that strips out restructuring costs and other impairments--will be close to the lower end of its previously forecast range of 2.4 billion euros ($2.62 billion) to EUR2.7 billion.

The energy company said earnings before interest, taxes, depreciation and amortization in the nine months to end-September fell 5.4% to EUR7.7 billion on the drop in revenue to EUR47.5 billion.

Like other power utilities in Europe such as Germany's EON SE and RWE AG, Engie has struggled with sluggish demand for energy across Western Europe amid a mild economic recovery despite ultra-low interest rates.

Electricity prices have also been under sustained pressure from a glut of electricity supply helped by government-subsidized growth in renewable energy that has made traditional power plants less profitable. Engie has had close down conventional power plants and write down assets worth billions of dollars over recent years.

Engie, led by Chief Executive Isabelle Kocher, has said it plans to reduce its exposure to energy prices by focusing on services and regulated businesses in which long-term contracts ensure stable profitability. As part of this plan, the company embarked on a multibillion-euro program of asset sales.

Engie said that so far it has sold EUR6.1 billion worth of assets, the equivalent of 41% of the target for the end of 2018.



Write to Inti Landauro at inti.landauro@wsj.com



(END) Dow Jones Newswires

November 10, 2016 03:03 ET (08:03 GMT)

grupo
13/11/2016
18:45
TRANSLATION

Published on 11/11/2016 at 13h49

(Boursier.com) - The action Engie that tumbled yesterday on its lowest levels, camping on my 11.80 euros this Friday, stable ... The group published results over 9 months without flavor and tightened in the Bottom of the range its forecasts 2016. Oddo is nevertheless to buy on the record aiming a course of 17,50 euros, talking about online publication.
"The 2016 objectives are confirmed, but the risks on the nuclear supply increase the uncertainty of the short term," comments the broker who continues: "The recent rebound in market prices and the capacity mechanism in France benefit Engie but in a A small measure ... Engie's news flow is not a satisfactory catalyser in the short term, and the group has suffered a significant discount due to the risk of tightening monetary policy, "concludes Oddo.
Raymond James, meanwhile, remains buying strong on the record, but adjusting his target price down to 13.90 euros ...

Source of Concern

Crédit Suisse slightly reduced its earnings per share projections on the record for 2016. However, its expectations for the following years remained unchanged ... For the consulting firm, the main source of uncertainty is Knowing when the current reorganization will begin to have an impact on turnover. From this point of view, he continues to believe that the growth of results will remain weak until the end of the decade, which explains his "neutral" recommendation, despite a target price of € 14.40 and a valuation that " It considers relatively low compared to that of its comparables on the basis of most commonly used metrics.
A valuation that remains justified by the lack of visibility on the results of the reorganization. Having set a dividend level of 0.70 euro for both 2017 and 2018, however, provides strong support for the title ...

In depth

"Engie is in the process of transforming its business in depth, so we believe that the 2016 metrics do not necessarily reflect the growth potential for long-term investors," said Bryan Garnier, who recommends to his clients ... to buy the title by targeting 17 euros.

Berenberg on the other hand has degraded the value of "buying" to "conserve", while reducing its target price from 16 to 13.50 euros. The broker does not anticipate any significant growth in EPS until 2019 despite a significant program of cost savings. The decline in share price shows that the market is not currently willing to pay for this distant growth in time. In the end, the broker judges the title properly valued ...

Contrast

The nine-month results of the group came out very contrasted, in a difficult context that weighs on revenues. The group saw its turnover decrease by -10.3% in organic data to 47.5 billion euros, while its Ebitda contracted by -2% to 7.7 billion. On the other hand, current operating profit rose by 6.6% on an organic basis to 4.4 billion euros. Cash flow from operations contracted by -8.3% to 6.8 billion euros. Finally, net debt declined by 1.9 billion euros to reach 25.8 billion euros at the end of September. Engie already realized 6.1 billionth of disposals, ie 41% of the target set for the end of 2018.
The transformation plan began to produce its first effects, with a contribution estimated at 400 ME on EBITDA. The decline in activity is above all due to the drop in the price of conveniences and temperatures in France less cold than the same period of the previous year.

Fork stockings

The energy company aims at a recurring net profit at the bottom of the previously announced range, 2.4 to 2.7 MdsE, on the basis of an indicative EBITDA range of 10.8 to 11.4 MdsE (also awaited Down forecast). The current consensus is positioned at 10.85 billionth of EBITDA, already at the bottom of the range, and recurring profit at 2.5 MdsE (14 analysts, Bloomberg). The net debt to EBITDA ratio will be less than or equal to 2.5 times at the end of the year. A cash dividend of € 1 per share will be proposed. Finally, the group is determined to keep its rating in category "A" ...

grupo
10/11/2016
12:03
PARIS--Engie SA (ENGI.FR) lowered its outlook for profit this year after weak natural gas and electricity prices in addition to slack weather-related demand in France, the power utility's main market, led to an 11% drop in nine-month revenue.

Engie, whose activities include nuclear-power plants in Belgium and hydroelectric dams in Brazil, said net recurring income--a measure that strips out restructuring costs and other impairments--will be close to the lower end of its previously forecast range of 2.4 billion euros ($2.62 billion) to EUR2.7 billion.

The energy company said earnings before interest, taxes, depreciation and amortization in the nine months to end-September fell 5.4% to EUR7.7 billion on the drop in revenue to EUR47.5 billion.

Like other power utilities in Europe such as Germany's EON SE and RWE AG, Engie has struggled with sluggish demand for energy across Western Europe amid a mild economic recovery despite ultra-low interest rates.

Electricity prices have also been under sustained pressure from a glut of electricity supply helped by government-subsidized growth in renewable energy that has made traditional power plants less profitable. Engie has had close down conventional power plants and write down assets worth billions of dollars over recent years.

Engie, led by Chief Executive Isabelle Kocher, has said it plans to reduce its exposure to energy prices by focusing on services and regulated businesses in which long-term contracts ensure stable profitability. As part of this plan, the company embarked on a multibillion-euro program of asset sales.

Engie said that so far it has sold EUR6.1 billion worth of assets, the equivalent of 41% of the target for the end of 2018.



Write to Inti Landauro at inti.landauro@wsj.com



(END) Dow Jones Newswires

November 10, 2016 03:03 ET (08:03 GMT)

grupo guitarlumber
09/11/2016
08:27
translation

Published on 09/11/2016 at 9:12

(Boursier.com) - In a course clearly bear market opening following the election of Donald Trump, Engie stumbles from 1.7% to 12.8 euros. Reportedly, Berenberg downgraded the value of "buy" to "hold" while lowering its price target from 16 to 13,50 euros. The broker does not anticipate any significant growth in EPS before 2019 despite a significant program cost savings. The recent decline in the share price shows that the market is currently not willing to pay for this growth removed in time. Finally, the broker considers the title correctly valued.

maywillow
04/11/2016
21:46
Friday, November 4, 2016

Oil prices settled at a six-week low on Thursday following several consecutive days of large price declines. The major catalysts this week were doubts over an OPEC deal and EIA data showing a record build up in crude oil stocks. The EIA said Wednesday that U.S. oil inventories rose by 14.4 million barrels last week, the largest gain in a single week since data collection began in the early 1980s. WTI plunged below $45 per barrel on the news and the five consecutive days of losses was the longest streak since June.

The data could be misleading, however. The huge buildup in inventories came largely because weekly imports spiked. Imports rose by about 2 million barrels per day last week after several weeks of hovering at below-average levels. The import spike was partially affected by bad weather, including a hurricane, and could be an anomaly. If that is the case, crude stocks probably won’t gain at similar rates in the weeks ahead.

Still, sentiment is negative after such a down week. "The persistent market dynamic of softer demand and stronger supply will become a more dominant driver of prices as the impact of OPEC's verbal interventions begins to fade and expectations for coordinated cuts are readjusted," BMI Research said in a note to clients.

OPEC deal probable, Citi says. Saudi Arabia and Russia are “hungry for an agreement,” Ed Morse, the head of commodity research at Citigroup, said this week. That means that OPEC and several non-OPEC countries will probably reach a deal at the end of the month to cut oil production. "We’re expecting the parties that need to do something to boost prices to be serious about deciding something," Morse said. For its part, OPEC said it was “deeply optimistic” this week that they would reach a deal.

Oil prices to stay below $60 per barrel in 2017. A Wall Street Journal survey of 14 investment banks predicts that oil prices will not rise above $60 per barrel for another year. The average forecast of the 14 respondents puts Brent oil prices at $56 per barrel in 2017 and WTI at $54. Those figures are down $1 per barrel from last month’s survey, and stand in stark contrast to forecasts from a year ago, which predicted oil to move above $70 per barrel this year.

Colonial Pipeline still closed. The largest pipeline ferrying gasoline around the U.S. has been closed since Monday due to an explosion. The Colonial Pipeline carries gasoline from the Gulf Cost to the Southeast and Northeast U.S., and its closure has led to a spike in gasoline futures. On Tuesday, gasoline futures spiked as much as 15 percent, the largest single day increase in nearly a decade, according to the WSJ. The pipeline’s operator had hoped to have it back up and running by this weekend but a small fire continued to burn as late as Thursday. Nearly two months ago, the pipeline was shut after a leak, a short outage that also led to higher gasoline prices in regional markets. The WSJ reports that more than 60 percent of U.S. fuel pipelines are more than 46 years old, posing questions around the integrity of some of the nation’s largest oil and gas conduits.

Attacks in Nigeria continue. Sabotage by the Niger Delta Avengers and other militant groups against oil infrastructure continue to pick up pace. The latest attack hit a flow station along Royal Dutch Shell’s (NYSE: RDS.A) Trans Forcados pipeline. In a statement the Niger Delta Avengers said that its attack was to warn oil companies that “there should be no repairs [to pipelines] pending negotiation/dialogue with the people of the Niger Delta.” U.S. intelligence officials told CNBC that the worrying thing for Nigeria is that Niger Delta militants could splinter, leading to ongoing attacks under no coherent umbrella, making them more difficult to control. Nigeria’s oil production recently rose to 1.9 million barrels per day but the attacks threaten to derail more gains.

North Sea oil production set to jump. Oil shipments from the aging North Sea could rise by 360,000 barrels per day between September and December of this year, taking output for the region up to 2.16 million barrels per day. The buildup of tankers in the North Sea is starting to clear, adding to the global surplus of supply and complicating the effects of a potential OPEC agreement on oil prices.

Solar stocks plunge on glut of panels. First Solar (NASDAQ: FSLR) saw its share price fall by 18 percent on Thursday, taking it multiyear lows, after it missed revenues and pointed to a global glut in solar panels. Prices for panels have declined 30 percent in large part due to a slowdown in demand from China, First Solar said.

U.S. presidential election poses market uncertainty. The S&P 500 has suffered a string of losses lately, which many attribute to jitters over uncertainty regarding the outcome of next week’s election. The markets seem to prefer Hillary Clinton over the uncertainty of Donald Trump, and indices have sunk as the campaign has tightened in recent days.

In our Numbers Report, we take a look at some of the most important metrics and indicators in the world of energy from the past week. Find out more by clicking here.

Thanks for reading and we’ll see you next week.

Best Regards,

Evan Kelly
Editor, Oilprice.com

P.S. – Natural gas is approaching a situation in which all factors point to a rebound, but oil trader Martin Tillier points at the markets’ tendency to overshoot. Martin warns that buyers should hold off a bit longer before scooping up natural gas futures. Find out where the real reversal for NatGas is taking place by claiming your risk-free 30 day trial on Oil and Energy Insider

ariane
04/11/2016
11:46
I already some YOLO. Thankz again C. Keep em comin.
encarter
Chat Pages: Latest  17  16  15  14  13  12  11  10  9  8  7  6  Older

Your Recent History

Delayed Upgrade Clock