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[marmar80] 25/5/2018 07:29

Morning All. Do you know about companies / investors what or who are currently looking to buy undervalued oil producers? Please pm their contact details. Thx

[marmar80] 25/5/2018 07:25

Morning All. Do you know about companies/investors what or who are currently looking to buy undervalued oil producers? Please pm their contact details. Thx

[grupo guitarlumber] 24/5/2018 16:15

Oil threatens 3rd straight drop as buildup in U.S. supplies drags market lower
By Myra P. Saefong and Mark DeCambre

Published: May 24, 2018 10:57 a.m. ET






Natural-gas edges higher after U.S. supplies rise as expected
Getty Images
Oil drops in Thursday trade.

Oil prices fell sharply Thursday as traders dragged futures lower for a third straight session following a report of an unexpected build in weekly U.S. crude inventories a day earlier.

July West Texas Intermediate crude CLN8, -1.00% on the New York Mercantile Exchange fell 88 cents, or 1.2%, to settle at $70.97 a barrel.

July Brent crude LCON8, -0.80% gave up 88 cents, or 1.1%, to $78.92 a barrel on the ICE Futures Europe, threatening to halt a string of advances for the international benchmark oil at three straight sessions.

Read: Here’s why U.S. oil is trading at its biggest discount to the global crude benchmark since 2015

The U.S. Energy Information Administration had reported Wednesday that crude supplies climbed by 5.8 million barrels for the week ended May 18. That contradicted market expectations, as analysts surveyed by S&P Global Platts had forecast a decline of 1.7 million barrels.

The crude-stock build reported by the EIA was “a huge surprise,” said Tariq Zahir, managing member of Tyche Capital Advisors.

Rhetoric from the Organization of the Petroleum Exporting Countries “that an increase on production will be discussed in the June OPEC meeting” because of possible declines in crude production from Iran and Venezuela, has contributed to oil’s slump, Zahir said.

Check out: Here’s what happens if the oil rally turns into an ‘oil shock’

Crude futures popped to 3½-year highs this month, partly supported by geopolitical developments that the market has viewed as aiding a price climb. Those include the U.S.’s decision to impose fresh sanctions on oil exports from OPEC producer Iran, following the Trump administration’;s decision to pull out of the multilateral nuclear accord. Sanctions had previously cut Iranian exports by around 1 million barrels a day.

The start of the St. Petersburg International Economic Forum, which commences Thursday and includes oil ministers from OPEC swing-producer Saudi Arabia and major exporter Russia are expected to meet and discuss the Iranian sanctions.

Market analysts at UniCredit in a Thursday research note said that “when oil-price gains are driven by supply-side shocks due to geopolitical developments (e.g. sanctions on Iran), then the impact on risk valuations will hinge on global growth dynamics, and momentum in the latter seems to be fading at a rate somewhat faster than we (and the consensus) had expected.”

Meanwhile, OPEC and producers including Russia are due to meet in Vienna next month to discuss the future of their deal to cut output which is due to expire in December.

Elsewhere on Nymex, June gasoline RBM8, -0.58% fell by 0.7% to $2.244 a gallon, while June heating oil HOM8, -0.62% shed 0.7% at $2.275 a gallon.

Natural-gas prices, meanwhile, headed higher following supply data from the EIA Thursday that generally met with market expectations.

The EIA said domestic supplies of natural gas rose by 91 billion cubic feet for the week ended May 18. Analysts surveyed by S&P Global Platts had forecast a climb of 93 billion cubic feet, which was nearly in line with the average over the last five years for the same week.

June natural gas NGM18, +0.72% tacked on 0.6% to $2.932 per million British thermal units.

—Sarah McFarlane contributed to this article

[ariane] 24/5/2018 07:22

News | May 22, 2018
Oil, Natural Gas Industry Highlights Preparedness For Upcoming Hurricane Season

Today, API along with PMAA, AGA, AFPM, INGAA and NOIA highlighted the steps that the natural gas and oil industry is taking to prepare its operations for the upcoming hurricane season and shared lessons learned and examples of the industry’s resilience from past hurricane seasons.

Suzanne Lemieux, API Midstream And Industry Operations Manager:
“The safety of our workforce and the environment is paramount when preparing and responding to hurricanes. Further, ensuring a flexible and resilient energy infrastructure is critical to supplying consumers with the energy they need and demand every day. To prepare and respond to weather events, API works with federal, state, and local first responders and government officials to help promote safety and restore normal operations following a storm. Our industry has developed innovations, technology and knowledge from past big-weather events that has better prepared the industry to withstand future storms. As the 2018 hurricane season fast approaches, our industry stands ready to help ensure the safety of our workforce and the environment.”

Sherri Stone, Petroleum Marketers Association Of America Vice President (PMAA):
“Marketers work to keep all of their clients, including gas stations, convenience stores, truck stops and marinas fully supplied with fuel. Following a disaster marketers re-supply their clients as quickly as is possible. Marketers often take these services even further by helping to rebuild supply when there are declared emergencies in other parts of the country. The marketers who do this provide an invaluable service for their country, and we have put together a Disaster Fuel Response Program to connect companies looking for fuel during and following a disaster, with PMAA State Association member marketers and heating fuel providers who wish to provide the service. Use of this Program information will be a first as we completed the program following Hurricanes Harvey, Irma and Maria.”

Jeff Gunnulfsen, American Fuel And Petrochemical Manufacturers Director Of Security And Risk Management (AFPM):
"The refining and petrochemical industries practice emergency response, every day, 365 days a year. No two storms or emergencies are alike, and our industries prepare vigorously and consistently for all types of disruptions. Preparation is the first step in managing major events, and by working diligently with industry partners, we're able to minimize the impacts of unpredictable events."

Mike Bellman, American Gas Association Director Of Operations And Engineering Services (AGA):
“Natural gas utilities have a proven track record of providing reliable service during hurricanes due to the fact that the natural gas pipeline network is predominantly underground and therefore remarkably resilient. Our preparations focus on customer and employee safety and being ready to restore service to individual homes and businesses when necessary. The American Gas Association offers a Mutual Assistance Program to members following any disaster or weather event that causes widespread interruption of natural gas service. This program helps provide personnel and equipment from unaffected natural gas utilities to help restore service safely and quickly. This program has not been needed since Superstorm Sandy as local natural gas utilities have been able to handle recovery in recent years by calling upon their internal resources.”

Rebecca Massello, Interstate Natural Gas Association Of America Director Of Security, Reliability And Resilience (INGAA):
“The natural gas pipeline industry is already preparing for the coming hurricane season as we look back at some of the successes and lessons learned from recent years. The U.S. natural gas industry has a proven track record of reliability and resilience as demonstrated by the 2017 hurricane season, which despite its ferocity, saw few outages and minimal impacts on nationwide natural gas prices. Increased supply diversity from inland natural gas production coupled with the fact that nearly all U.S. natural gas is shipped through underground pipelines — which are largely protected from winds and flooding — helps ensure that pipelines remain reliable during extreme weather events. In addition, the natural gas delivery network, which includes varied sources of gas supply, multiple pipeline pathways between producers and consumers, and ample underground natural gas storage, provides multiple opportunities for work arounds if supply is disrupted during an extreme weather event. These design considerations coupled with regularly updated and tested emergency response plans help the natural gas pipeline industry prepare for and quickly recover from hurricanes and other events.”

Tim Charters, National Ocean Industries Association Senior Director Of Governmental And Political Affairs (NOIA):
“At any given time, there are thousands of workers offshore producing energy and earning a living to support themselves, their families and communities. Despite the frequency and intensity of hurricanes and tropical storms in 2017, there were no reported deaths or injuries among offshore workers, no reported damage to offshore facilities and no reported spills from offshore facilities. This is a testament to how well the offshore industry prepares for and responds to hurricanes. While we are proud of the offshore industry’s safety, environmental and philanthropic record, natural disasters like Harvey and Nate also expose the vulnerability of America’s energy security. Due in part to poor energy policy, and political NIMBYism, America has placed the vast majority of our offshore energy eggs in one basket – the hurricane-prone Gulf of Mexico. Simply put, we dodged an energy security bullet during the 2017 hurricane season. By geographically concentrating our nation’s offshore energy production, the U.S. is rolling the dice when it comes to natural disasters. This is why we must ensure the continued development and production of our nation’s offshore energy resources from both inside of and outside of the Gulf of Mexico.”

In Preparation For Weather Events Including Hurricanes, The Natural Gas And Oil Industry Has Assembled:

A factsheet to help consumers better understand the interconnected U.S. fuel supply system and what happens when a supply shock, such as a major hurricane, occurs.
The Oil and Natural Gas Industry Preparedness Handbook, which was developed in collaboration with industry groups and leaders at all levels of government, to help coordinate preparation and response to weather events.
The factsheet and handbook and additional information regarding federal hurricane resources can be found on the API website.

About API
API is the only national trade association representing all facets of the oil and natural gas industry, which supports 10.3 million U.S. jobs and nearly 8 percent of the U.S. economy. API’s more than 625 members include large integrated companies, as well as exploration and production, refining, marketing, pipeline, and marine businesses, and service and supply firms. They provide most of the nation’s energy and are backed by a growing grassroots movement of more than 45 million Americans.

SOURCE: API

[ariane] 23/5/2018 21:49

Norway’s Wealth Fund One Step Closer To Ditching Oil
By Tsvetana Paraskova - May 23, 2018, 3:00 PM CDT Wealth fund Norway

The world’s biggest sovereign wealth fund, Norway’s US$1-trillion Government Pension Fund Global, has won support from top Norwegian economists and academics for its plan to dump oil and gas stocks.

This non-binding support from Norway’s top universities is part of the process of hearings and consultations on the proposal to divest from oil and gas stocks. It moves the fund closer to possibly implementing its plan. The Norwegian government aims to reach a final decision on the proposal in the fall of 2018.

The Norwegian fund, created in 1990 to manage the country’s huge oil revenues and support the government’s long-term management of petroleum proceeds, hit the US$1-trillion value threshold last year.

At the end of last year, the fund recommended the removal of oil and gas stocks—more than US$35 billion worth of shares—from the fund’s equity benchmark index to make Norway’s wealth and economy less vulnerable to a permanent drop in oil and gas prices. The oil and gas sector accounts for about 4 percent of the fund’s investment in equities.

Although the fund’s recommendation to exit oil stocks is based entirely on financial risk assessment, the world’s biggest sovereign wealth fund dumping oil and gas investments could have a ripple effect on other large institutional investors at a time in which investors have yet to show renewed confidence in energy stocks and in which some shareholders and investors are calling upon Big Oil to start taking climate change seriously and step up efforts to fight it.
Related: $80 Oil Could Kill Smaller Airlines

The Norwegian fund is invested in more than 9,000 companies worldwide and owns 1.4 percent of listed companies around the world and 2.4 percent of all listed companies in Europe. As at December 31, 2017, the fund held stakes in 350 oil and gas stocks around the world, including just over 2 percent in each of Shell and BP, 1.9 percent in Total, 1.4 percent in Eni, 0.9 percent in Exxon worth more than US$3 billion, and just below 1 percent in Chevron worth US$2.24 billion.

As part of the hearing process for the fund’s plan to dump oil stocks, academics from the Norwegian University of Science and Technology (NTNU), the University of Oslo (UiO), and the Norwegian School of Economics (NHH), have supported the proposal in recent consultation letters, arguing that it would diversify risks.

Professors Gernot Doppelhofer, Torfinn Harding, Klaus Mohn, and Krisztina Molnar from NHH support the recommendation, saying that “Given a high exposure to oil and gas in the state’s portfolio outside the oil fund, intuition about diversification suggests that the oil fund should not take on direct oil and gas risk.”
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Knut Anton Mork, a professor at NTNU, also supports the plan and says that the arguments for removing oil and gas stocks are “very convincing.”

“The advice given by Norges Bank has a solid scientific basis, and has broad support in both national and international academic communities,” professors at the UiO wrote in their letter, as carried in English by Bloomberg.

The University of Stavanger Business School said that the hearing and plan is “highly relevant and timely” but stopped short of backing the proposal.
Related: EVs Could Erase 7 Million Bpd In Demand

The Oslo-based Norwegian Business School, however, says that the question whether to dump oil stocks “doesn’t have as clear an answer.”

“A question of this importance requires comprehensive analyses before the final decision is made,” professors Espen Moen and Richard Priestley and associate professor Espen Henriksen, a former employee at the fund, said.

The academics’ opinions are not expected to weigh in the final decision as much as that of an expert group that the government has appointed to assess and review energy stocks in the fund’s portfolio. The expert group should present its findings in a report by August 24, 2018.

Regardless of Norway’s decision on this proposal, the fact that the sovereign wealth fund created by the nation’s oil riches now wants out of oil stocks speaks volumes about the new investment world for oil and gas companies.

By Tsvetana Paraskova for Oilprice.com