Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>It’s a standoff that pits shareholder caution against political ambition—and Chevron is right in the middle.</li><li>Just weeks after the dramatic ouster of Nicolás Maduro, President Trump is urging U.S. oil companies to flood Venezuela with $100 billion in investment to rapidly reboot its shattered oil sector.</li><li>Leading the charge, at least in theory, is Chevron—the only major U.S. player still operating in Venezuela.</li></ul>

It’s a standoff that pits shareholder caution against political ambition—and Chevron is right in the middle.Just weeks after the dramatic ouster of Nicolás Maduro, President Trump is urging U.S. oil companies to flood Venezuela with $100 billion in investment to rapidly reboot its shattered oil sector.Leading the charge, at least in theory, is Chevron—the only major U.S. player still operating in Venezuela.

Chevron’s Venezuela Gamble: Why Trump’s Oil Plan Is Falling Apart!

Oil and Gas, Mint Finance

Suhas Reddy

Oil and Gas

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

<ul>
<li>The proposed Chevron–Lukoil transaction is strategically significant but financially incremental, offering long-dated reserve replacement and global diversification rather than near-term earnings accretion or immediate cash-flow uplift.</li>
<li>Chevron is uniquely positioned among U.S. majors to benefit from shifting U.S. energy policy, leveraging its Venezuela presence and potential Lukoil acquisition.</li>
<li>More broadly, the deal reflects a structural shift in global energy markets, where sanctions, state policy, and geopolitical alignment increasingly shape capital allocation, asset ownership, and long-term strategic relevance.</li>
</ul>


The proposed Chevron–Lukoil transaction is strategically significant but financially incremental, offering long-dated reserve replacement and global diversification rather than near-term earnings accretion or immediate cash-flow uplift.
Chevron is uniquely positioned among U.S. majors to benefit from shifting U.S. energy policy, leveraging its Venezuela presence and potential Lukoil acquisition.
More broadly, the deal reflects a structural shift in global energy markets, where sanctions, state policy, and geopolitical alignment increasingly shape capital allocation, asset ownership, and long-term strategic relevance.


Chevron, Lukoil and the New Geopolitics of Global Energy

CEO / Founder, Crea8

Kim-Hwa Lim

CEO / Founder

Make an Impact

Crea8

Crea8 blends AI-driven precision, big data scalability, and rigorous quantitative frameworks with seasoned human insight. By extracting actionable intelligence from vast global datasets, we eliminate emotional bias and deliver optimal risk-adjusted returns. Our hybrid approach uncovers hidden market efficiencies and ensures your capital is dynamically positioned across markets.

Cross Asset Strategy

<ul><li>The strategy seeks to invest in global companies with sustainable competitive advantages and are Shariah compliant.</li><li>By adopting a portfolio of stocks instead of individual stocks, the strategy is diversified across countries and industries; and optimised with respect to their expected risks and returns.</li><li>Previous portfolio returned 4.1% vs. MSCI World (4.2%) – underperformed the benchmark by -0.1%.</li></ul>

The strategy seeks to invest in global companies with sustainable competitive advantages and are Shariah compliant.By adopting a portfolio of stocks instead of individual stocks, the strategy is diversified across countries and industries; and optimised with respect to their expected risks and returns.Previous portfolio returned 4.1% vs. MSCI World (4.2%) – underperformed the benchmark by -0.1%.

Global Competitive Barrier (Shariah) Portfolio (18-Aug-2026)

Global Editor, Base Oil News

Iain Pocock

Global Editor

Global Base Oils and Lubricants Markets

Base Oil News

Base Oil News focuses on the interplay between fundamentals and prices in the global base oils and lubricants markets.

Baseoilnews.com combines daily, weekly and monthly base oils and lubes fundamentals data from every region of the world to build the most comprehensive and up-to-date global picture of the state of the market.

The data and analysis provide key tools to understand current market developments and opportunities and to anticipate how the market is likely to behave in the coming months.

Base oils producers, lube blenders and consumers can then better plan accordingly.

Baseoilnews.com analyses and publishes market news and data every day as it breaks.

Commodities

<ul><li>Summer seasonality is providing some relief to the tight base oils market, with slower lubricant demand helping offset the loss of Middle East supply and allowing the market to operate with a thinner surplus</li></ul><ul><li>The underlying supply position remains tight, with Middle East disruptions continuing to remove significant volumes and Group III availability still under the greatest pressure.</li><li>Asia's June supply fell faster than lubricant demand, cutting the regional surplus sharply and leaving less spare material to absorb stronger requirements later in the year.</li></ul>

Summer seasonality is providing some relief to the tight base oils market, with slower lubricant demand helping offset the loss of Middle East supply and allowing the market to operate with a thinner surplusThe underlying supply position remains tight, with Middle East disruptions continuing to remove significant volumes and Group III availability still under the greatest pressure.Asia's June supply fell faster than lubricant demand, cutting the regional surplus sharply and leaving less spare material to absorb stronger requirements later in the year.

Base Oils and Lubricants: Weekly Global Market Review - 14 Aug '26

<ul><li>Chevron’s century-long presence in Venezuela is turning into a high-stakes test of geopolitics, oil strategy, and corporate resilience.</li><li>As the U.S. government doubled down on sanctions targeting the Maduro regime, Chevron aligned closely with the Trump administration to remain the last major American oil company with operations in the country.</li><li>CEO Mike Wirth has played a careful long game, using diplomatic leverage and legal maneuvering to secure what he sees as a "catbird seat" over some of the world’s richest oil reserves.</li></ul>

Chevron’s century-long presence in Venezuela is turning into a high-stakes test of geopolitics, oil strategy, and corporate resilience.As the U.S. government doubled down on sanctions targeting the Maduro regime, Chevron aligned closely with the Trump administration to remain the last major American oil company with operations in the country.CEO Mike Wirth has played a careful long game, using diplomatic leverage and legal maneuvering to secure what he sees as a "catbird seat" over some of the world’s richest oil reserves.

Chevron Is Playing the Long Game in Venezuela — But Will It Win?

United States

Chevron Corporation is an integrated energy company with operations in countries located around the world.  The Company produces and transports crude oil and natural gas.  Chevron also refines, markets, and distributes fuels as well as is involved in chemical operations, mining operations, power generation and energy services.

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Chevron Corp (CVX US)

Chevron’s Venezuela Gamble: Why Trump’s Oil Plan Is Falling Apart!

It’s a standoff that pits shareholder caution against political ambition—and Chevron is right in the middle. Just weeks after the dramatic ouster...

Baptista Research

Chevron, Lukoil and the New Geopolitics of Global Energy

Chevron's potential acquisition of Lukoil offers long-term strategic benefits, focusing on reserve replacement and diversification rather than...

Mint Finance

Global Competitive Barrier (Shariah) Portfolio (18-Aug-2026)

The strategy seeks to invest in global companies with sustainable competitive advantages and are Shariah compliant. By adopting a portfolio of...

Crea8

Base Oils and Lubricants: Weekly Global Market Review - 14 Aug '26

Summer seasonality is providing some relief to the tight base oils market, with slower lubricant demand helping offset the loss of Middle East...

Base Oil News

Chevron Is Playing the Long Game in Venezuela — But Will It Win?

Chevron’s century-long presence in Venezuela is turning into a high-stakes test of geopolitics, oil strategy, and corporate resilience. As the...

Baptista Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Chevron’s Venezuela Gamble: Why Trump’s Oil Plan Is Falling Apart!

It’s a standoff that pits shareholder caution against political ambition—and Chevron is right in the middle. Just weeks after the dramatic ouster...

Baptista Research

Chevron, Lukoil and the New Geopolitics of Global Energy

​Chevron's potential acquisition of Lukoil offers long-term strategic benefits, focusing on reserve replacement and diversification rather than...

Mint Finance

Global Competitive Barrier (Shariah) Portfolio (18-Aug-2026)

The strategy seeks to invest in global companies with sustainable competitive advantages and are Shariah compliant. By adopting a portfolio of...

Crea8

Base Oils and Lubricants: Weekly Global Market Review - 14 Aug '26

Summer seasonality is providing some relief to the tight base oils market, with slower lubricant demand helping offset the loss of Middle East...

Base Oil News

Chevron Is Playing the Long Game in Venezuela — But Will It Win?

Chevron’s century-long presence in Venezuela is turning into a high-stakes test of geopolitics, oil strategy, and corporate resilience. As the...

Baptista Research

Chevron's potential acquisition of Lukoil offers long-term strategic benefits, focusing on reserve replacement and diversification rather than...