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.

Commodities

<ul>
<li>For the week ending 20/Sep, US crude inventories declined by 4.5m barrels, surpassing expectations of a 1.3m barrel drawdown. Gasoline and distillate stockpiles also decreased more than analyst estimates.</li>
<li>US natural gas inventories rise 47 Bcf for the week ending 20/Sep, lower than analyst expectations of a 52 Bcf buildup. Inventories are 7.1% above the 5-year seasonal average.</li>
<li>BP and Shell experienced rating downgrades and target price reductions, while TotalEnergies and Exxon Mobil saw upward revisions in their target prices.</li>
</ul>


For the week ending 20/Sep, US crude inventories declined by 4.5m barrels, surpassing expectations of a 1.3m barrel drawdown. Gasoline and distillate stockpiles also decreased more than analyst estimates.
US natural gas inventories rise 47 Bcf for the week ending 20/Sep, lower than analyst expectations of a 52 Bcf buildup. Inventories are 7.1% above the 5-year seasonal average.
BP and Shell experienced rating downgrades and target price reductions, while TotalEnergies and Exxon Mobil saw upward revisions in their target prices.


[ETP 2024/39] WTI Prices Slip as Supply Concerns Ease; Nat-Gas Soars on Strong Demand Expectations

<ul>
<li>For the week ending 13/Sep, US crude inventories dropped by 1.6m barrels, surpassing the expected 0.2m barrel decline. Gasoline stockpiles grew less than forecasted, while distillate inventories rose more.</li>
<li>US natural gas inventories rise 58 Bcf for the week ending 13/Sep, more than analyst expectations of a 53 Bcf buildup. Inventories are 8.6% above the 5-year seasonal average.</li>
<li>Chevron, Occidental Petroleum, and Exxon Mobil see target price cuts. DBS Bank initiated a Buy rating on Schlumberger and Halliburton.</li>
</ul>


For the week ending 13/Sep, US crude inventories dropped by 1.6m barrels, surpassing the expected 0.2m barrel decline. Gasoline stockpiles grew less than forecasted, while distillate inventories rose more.
US natural gas inventories rise 58 Bcf for the week ending 13/Sep, more than analyst expectations of a 53 Bcf buildup. Inventories are 8.6% above the 5-year seasonal average.
Chevron, Occidental Petroleum, and Exxon Mobil see target price cuts. DBS Bank initiated a Buy rating on Schlumberger and Halliburton.


[ETP 2024/38] Oil Rises on Fed Rate Cut and Geopolitics; Nat-Gas Gains on Warmer Forecasts

<ul>
<li>For the week ending 06/Sept, US crude inventories increased by 0.8m barrels, lower than the 0.9m barrel forecast. Gasoline stockpiles rose unexpectedly, while distillate inventories grew more than anticipated.</li>
<li>US natural gas inventories rise 40 Bcf for the week ending 06/Sep, lower than analyst expectations of a 49 Bcf buildup. Inventories are 9.6% above the 5-year seasonal average.</li>
<li>BP, Occidental Petroleum, and Exxon Mobil see target price cuts. Schlumberger announces breakthrough in Lithium production.</li>
</ul>


For the week ending 06/Sept, US crude inventories increased by 0.8m barrels, lower than the 0.9m barrel forecast. Gasoline stockpiles rose unexpectedly, while distillate inventories grew more than anticipated.
US natural gas inventories rise 40 Bcf for the week ending 06/Sep, lower than analyst expectations of a 49 Bcf buildup. Inventories are 9.6% above the 5-year seasonal average.
BP, Occidental Petroleum, and Exxon Mobil see target price cuts. Schlumberger announces breakthrough in Lithium production.


[ETP 2024/37] Oil Prices Rebound but Weak Demand Limits Gains, Nat-Gas Rises on Output Cuts

Equity Bottom-Up

<ul>
<li>Aramco’s Q2 operating revenue grew 5.7% YoY but missed estimates by 0.3%. Meanwhile, net profit fell by 3.4% YoY but its EPS edged past estimates by 0.8%.</li>
<li>Total hydrocarbon production fell 8.9% YoY to 12.3 mboepd while crude oil realisations rose 8.8% YoY.</li>
<li>In Q2, Aramco declared dividends totalling USD 31.1 billion, despite an 18.1% YoY decline in free cash flow to USD 19 billion.</li>
</ul>


Aramco’s Q2 operating revenue grew 5.7% YoY but missed estimates by 0.3%. Meanwhile, net profit fell by 3.4% YoY but its EPS edged past estimates by 0.8%.
Total hydrocarbon production fell 8.9% YoY to 12.3 mboepd while crude oil realisations rose 8.8% YoY.
In Q2, Aramco declared dividends totalling USD 31.1 billion, despite an 18.1% YoY decline in free cash flow to USD 19 billion.


[Earnings Review] Saudi Aramco’s Earnings Dip as Lower Output and Refining Margins Bite

<ul>
<li>US crude oil inventories fell by 4.9 million barrels in the week ending 12/Jul, marking the third consecutive weekly decline.</li>
<li>As of 12/Jul, US natural gas inventories were up 8.4% YoY and 16.9% above the 5-year seasonal average.</li>
<li>UBS expects Chevron's Q2 earnings to fall short of expectations due to LNG project downtime and lower international refining margins.</li>
</ul>


US crude oil inventories fell by 4.9 million barrels in the week ending 12/Jul, marking the third consecutive weekly decline.
As of 12/Jul, US natural gas inventories were up 8.4% YoY and 16.9% above the 5-year seasonal average.
UBS expects Chevron's Q2 earnings to fall short of expectations due to LNG project downtime and lower international refining margins.


[ETP 29/2024] Oil Rebounds on Inventory Drop; Energy Majors' Targets Cut

Saudi Arabia

Saudi Arabian Oil Co., doing business as Saudi Aramco, operates as an oil exploration company. The Company focuses on hydrocarbons exploration, production, refining, distribution, and shipping, as well as provides crude oil marketing services. Saudi Aramco serves customers worldwide.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Saudi Aramco (ARAMCO AB)

[ETP 2024/39] WTI Prices Slip as Supply Concerns Ease; Nat-Gas Soars on Strong Demand Expectations

WTI reversed gains as supply disruptions eased amid persistent demand worries. In contrast, nat-gas prices surged on expectations of strong demand...

Mint Finance

[ETP 2024/38] Oil Rises on Fed Rate Cut and Geopolitics; Nat-Gas Gains on Warmer Forecasts

Oil prices are rising as demand prospects improve. Natural gas prices recovered due to warmer weather forecasts. TotalEnergies received a target...

Mint Finance

[ETP 2024/37] Oil Prices Rebound but Weak Demand Limits Gains, Nat-Gas Rises on Output Cuts

Oil prices rise on Hurricane impact but weak demand caps gains. Nat-gas prices rise on warmer weather forecasts and production cuts. BP,...

Mint Finance

[Earnings Review] Saudi Aramco’s Earnings Dip as Lower Output and Refining Margins Bite

Aramco's Q2 revenue rose 5% YoY but earnings fell 3.4% due to lower production and refining margins. Dividends were declared at USD 31.1 billion...

Mint Finance

[ETP 29/2024] Oil Rebounds on Inventory Drop; Energy Majors' Targets Cut

US crude inventories fell for the third straight week, while gasoline and distillate stocks exceeded expectations. US & European gas storage above...

Mint Finance

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

[ETP 2024/39] WTI Prices Slip as Supply Concerns Ease; Nat-Gas Soars on Strong Demand Expectations

WTI reversed gains as supply disruptions eased amid persistent demand worries. In contrast, nat-gas prices surged on expectations of strong demand...

Mint Finance

[ETP 2024/38] Oil Rises on Fed Rate Cut and Geopolitics; Nat-Gas Gains on Warmer Forecasts

Oil prices are rising as demand prospects improve. Natural gas prices recovered due to warmer weather forecasts. TotalEnergies received a target...

Mint Finance

[ETP 2024/37] Oil Prices Rebound but Weak Demand Limits Gains, Nat-Gas Rises on Output Cuts

Oil prices rise on Hurricane impact but weak demand caps gains. Nat-gas prices rise on warmer weather forecasts and production cuts. BP,...

Mint Finance

[Earnings Review] Saudi Aramco’s Earnings Dip as Lower Output and Refining Margins Bite

​Aramco's Q2 revenue rose 5% YoY but earnings fell 3.4% due to lower production and refining margins. Dividends were declared at USD 31.1 billion...

Mint Finance

[ETP 29/2024] Oil Rebounds on Inventory Drop; Energy Majors' Targets Cut

US crude inventories fell for the third straight week, while gasoline and distillate stocks exceeded expectations. US & European gas storage above...

Mint Finance

Aramco's Q2 revenue rose 5% YoY but earnings fell 3.4% due to lower production and refining margins. Dividends were declared at USD 31.1 billion...