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.

Equity Bottom-Up

<ul>
<li>BP will increase oil and gas spending to USD 10 billion annually through 2027, comprising 66%-70% of total capex, while slashing renewable energy investments by over USD 5 billion. </li>
<li>BP reduced its quarterly buybacks to USD 0.75–1 billion from USD 1.75 billion and lowered annual capex to USD 13–15 billion through 2027.  </li>
<li>Elliott Investment Management is reportedly dissatisfied with BP’s strategy reset, criticizing it for lacking urgency and ambition, potentially prompting further strategic adjustments from the company. </li>
</ul>


BP will increase oil and gas spending to USD 10 billion annually through 2027, comprising 66%-70% of total capex, while slashing renewable energy investments by over USD 5 billion. 
BP reduced its quarterly buybacks to USD 0.75–1 billion from USD 1.75 billion and lowered annual capex to USD 13–15 billion through 2027.  
Elliott Investment Management is reportedly dissatisfied with BP’s strategy reset, criticizing it for lacking urgency and ambition, potentially prompting further strategic adjustments from the company. 


BP’s Strategy Reset Stumbles as Dividend Cut, Oil & Gas Output Target Disappoints

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>US export base oils price premium to feedstock/heating oil prices holds in narrow range even as outright prices fall.</li><li>Lower export prices could reflect concern about availability of lingering or additional supplies if domestic demand lags expectations.</li><li>Lower export prices follow unusually steady outright prices and steadier differentials vs VGO in first two months of 2025.</li></ul>

US export base oils price premium to feedstock/heating oil prices holds in narrow range even as outright prices fall.Lower export prices could reflect concern about availability of lingering or additional supplies if domestic demand lags expectations.Lower export prices follow unusually steady outright prices and steadier differentials vs VGO in first two months of 2025.

Americas/EMEA base oils supply outlook: Week of 10 March

<ul><li>US base oils demand typically gets seasonal boost from around this time of the year.</li><li>Any such pick-up in demand in coming weeks could get further support following signs that sustained dip in domestic consumption is bottoming out.</li><li>Domestic demand in Q4 2024 rises from year-earlier levels for first time in two years, falls less than usual from previous quarter.</li></ul>

US base oils demand typically gets seasonal boost from around this time of the year.Any such pick-up in demand in coming weeks could get further support following signs that sustained dip in domestic consumption is bottoming out.Domestic demand in Q4 2024 rises from year-earlier levels for first time in two years, falls less than usual from previous quarter.

Americas/EMEA base oils demand outlook: Week of 10 March

<ul><li>Europe’s Group II base oils prices hold in narrow range vs Group I prices in first two months of 2025.</li><li>Europe Group II prices flip to premium to Europe Group III 4cSt (low) prices in Feb 2025 for first time since mid-2021.</li><li>Relative price-strength of Group II base oils points to firm supply-demand fundamentals vs Group I and Group III base oils.</li></ul>

Europe’s Group II base oils prices hold in narrow range vs Group I prices in first two months of 2025.Europe Group II prices flip to premium to Europe Group III 4cSt (low) prices in Feb 2025 for first time since mid-2021.Relative price-strength of Group II base oils points to firm supply-demand fundamentals vs Group I and Group III base oils.

Global base oils arb outlook: Week of 10 March

<ul><li>Base oils prices extend rise vs feedstock/competing fuel prices in Asia and Europe, pointing to tighter supply-demand fundamentals.</li><li>US base oils premium to VGO/heating oil stays in narrower range, lagging rise in Asia and Europe.</li><li>Dynamic points to diverging fundamentals between US and other regions.</li></ul>

Base oils prices extend rise vs feedstock/competing fuel prices in Asia and Europe, pointing to tighter supply-demand fundamentals.US base oils premium to VGO/heating oil stays in narrower range, lagging rise in Asia and Europe.Dynamic points to diverging fundamentals between US and other regions.

Global base oils margins outlook: Week of 10 March

United States

Phillips 66 is a downstream energy company.  The Company's operations include oil refining, marketing and transportation.  Phillips 66's operations also include chemical manufacturing and power generation.

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Phillips 66 (PSX US)

BP’s Strategy Reset Stumbles as Dividend Cut, Oil & Gas Output Target Disappoints

BP plans to increase oil and gas spending while cutting back on renewable energy investments. Elliott Investment Management criticizes this...

Mint Finance

Americas/EMEA base oils supply outlook: Week of 10 March

US export base oils price premium to feedstock/heating oil prices holds in narrow range even as outright prices fall. Lower export prices could...

Base Oil News

Americas/EMEA base oils demand outlook: Week of 10 March

US base oils demand typically gets seasonal boost from around this time of the year. Any such pick-up in demand in coming weeks could get further...

Base Oil News

Global base oils arb outlook: Week of 10 March

Europe’s Group II base oils prices hold in narrow range vs Group I prices in first two months of 2025. Europe Group II prices flip to premium to...

Base Oil News

Global base oils margins outlook: Week of 10 March

Base oils prices extend rise vs feedstock/competing fuel prices in Asia and Europe, pointing to tighter supply-demand fundamentals. US base oils...

Base Oil News

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

BP’s Strategy Reset Stumbles as Dividend Cut, Oil & Gas Output Target Disappoints

​BP plans to increase oil and gas spending while cutting back on renewable energy investments. Elliott Investment Management criticizes this...

Mint Finance

Americas/EMEA base oils supply outlook: Week of 10 March

US export base oils price premium to feedstock/heating oil prices holds in narrow range even as outright prices fall. Lower export prices could...

Base Oil News

Americas/EMEA base oils demand outlook: Week of 10 March

US base oils demand typically gets seasonal boost from around this time of the year. Any such pick-up in demand in coming weeks could get further...

Base Oil News

Global base oils arb outlook: Week of 10 March

Europe’s Group II base oils prices hold in narrow range vs Group I prices in first two months of 2025. Europe Group II prices flip to premium to...

Base Oil News

Global base oils margins outlook: Week of 10 March

Base oils prices extend rise vs feedstock/competing fuel prices in Asia and Europe, pointing to tighter supply-demand fundamentals. US base oils...

Base Oil News

BP plans to increase oil and gas spending while cutting back on renewable energy investments. Elliott Investment Management criticizes this...