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>US crude oil inventory declined by 12.2 million barrels as of the week ending on 28/Jun, the biggest drawdown since July 2023.</li>
<li>Henry Hub prices continued to decline from last week due to increased production and cooler weather forecasts.</li>
<li>Saudi Aramco awarded over USD 25 billion in contracts for gas expansion. Goldman Sachs lowered its target price on Saudi Aramco but maintained its “Neutral” rating.</li>
</ul>


US crude oil inventory declined by 12.2 million barrels as of the week ending on 28/Jun, the biggest drawdown since July 2023.
Henry Hub prices continued to decline from last week due to increased production and cooler weather forecasts.
Saudi Aramco awarded over USD 25 billion in contracts for gas expansion. Goldman Sachs lowered its target price on Saudi Aramco but maintained its “Neutral” rating.


[ETP 27/2024] Oil Prices Surge While Natural Gas Slides; Energy Majors' Gains Slowdown

<ul>
<li>Occidental trades at higher PE and PB valuations than Exxon Mobil, Chevron, Shell, TotalEnergies, and BP. European oil majors are cheaper than American peers.  </li>
<li>Occidental has been the Permian Basin's leading oil and gas producer for the past five years. </li>
<li>Occidental expects to close the USD 12 billion CrownRock acquisition by August. The deal is anticipated to boost its oil output by 170k bpd. </li>
</ul>


Occidental trades at higher PE and PB valuations than Exxon Mobil, Chevron, Shell, TotalEnergies, and BP. European oil majors are cheaper than American peers.  
Occidental has been the Permian Basin's leading oil and gas producer for the past five years. 
Occidental expects to close the USD 12 billion CrownRock acquisition by August. The deal is anticipated to boost its oil output by 170k bpd. 


Berkshire's Bullish Bet on Occidental Fails to Sway Market Sentiments

Equity Capital Markets and Advisory Business, Auctus Advisors

Auctus Advisors

Equity Capital Markets and Advisory Business

Auctus Advisors is a specialist Equity Capital Markets and Advisory business with a focus in the Energy Sector. The partners have complementary skill sets, with decades of experience across Equity Capital Markets, Investment Banking and the Energy industry. We have worked at Société Générale, Canaccord Capital, BMO Capital Markets and Schlumberger. Most recently we have worked together for many years at GMP FirstEnergy. Auctus has been set up at the beginning of a new decade in which we see significant opportunities in the Energy space. Globally, demand for energy is at record levels and continues to grow. Conversely, investment in traditional energy sources has been severely constrained. We believe this imbalance creates opportunities for both companies and investors. Auctus provides Corporate Broking, Equity Research and Investment Banking services.

Thematic (Sector/Industry)

<ul>
<li>Chariot (CHAR LN)C: target price of £0.50 per share: Key step towards developing future gas to industry business onshore Morocco – Chariot has signed Heads of Terms with Vivo Energy for the future offtake from the Loukos onshore licence where natural gas has been encountered at Dartois.</li>
<li>Up to 3 mmcf/d would be initially sold to the CNG midstream business under a long-term gas sales agreement.</li>
<li>Vivo intends to design, fund, construct and operate a CNG plant and virtual distribution network to transport natural gas from a number of sources to existing and new industrial customers in Morocco.</li>
</ul>


Chariot (CHAR LN)C: target price of £0.50 per share: Key step towards developing future gas to industry business onshore Morocco – Chariot has signed Heads of Terms with Vivo Energy for the future offtake from the Loukos onshore licence where natural gas has been encountered at Dartois.
Up to 3 mmcf/d would be initially sold to the CNG midstream business under a long-term gas sales agreement.
Vivo intends to design, fund, construct and operate a CNG plant and virtual distribution network to transport natural gas from a number of sources to existing and new industrial customers in Morocco.


<ul>
<li>An unexpected increase in US crude oil and gasoline inventories pushed oil prices down but the ongoing conflicts capped the downside.</li>
<li>Growing natural gas output dampens Henry Hub’s uptrend. Europe will ban transshipments of Russian LNG in its ports from March 2025.</li>
<li>Chevron's Wheatstone LNG facility in Australia resumed full production. Wells Fargo lowered its target price on Shell but raised it on Occidental.</li>
</ul>


An unexpected increase in US crude oil and gasoline inventories pushed oil prices down but the ongoing conflicts capped the downside.
Growing natural gas output dampens Henry Hub’s uptrend. Europe will ban transshipments of Russian LNG in its ports from March 2025.
Chevron's Wheatstone LNG facility in Australia resumed full production. Wells Fargo lowered its target price on Shell but raised it on Occidental.


[ETP 26/2024] Oil Prices Drop on Surprise Inventory Build; Oil Majors Slide but Retain Gains

<ul>
<li>The gap between OPEC and IEA’s oil demand forecasts widened: OPEC kept its 2024 forecast at 2.25m bpd, while IEA lowered its forecast to 960k bpd from 1.1m bpd.</li>
<li>Europe’s attempt to cut Russian LNG imports grows stronger, as the French Senate Committee recommends cutting Russian dependence.</li>
<li>Since 17/June, Energy majors began recovering. Berkshire increased its holdings in Occidental, while Shell expanded its LNG market access by acquiring Pavilion Energy.</li>
</ul>


The gap between OPEC and IEA’s oil demand forecasts widened: OPEC kept its 2024 forecast at 2.25m bpd, while IEA lowered its forecast to 960k bpd from 1.1m bpd.
Europe’s attempt to cut Russian LNG imports grows stronger, as the French Senate Committee recommends cutting Russian dependence.
Since 17/June, Energy majors began recovering. Berkshire increased its holdings in Occidental, while Shell expanded its LNG market access by acquiring Pavilion Energy.


[ETP 25/2024] Energy Majors Bounce Back; Their Expansion Spree Continues

France

TOTAL S.A. explores for, produces, refines, transports, and markets oil and natural gas. The Company also operates a chemical division which produces polypropylene, polyethylene, polystyrene, rubber, paint, ink, adhesives, and resins. TOTAL operates gasoline filling stations in Europe, the United States, and Africa.

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TotalEnergies (TTE FP)

[ETP 27/2024] Oil Prices Surge While Natural Gas Slides; Energy Majors' Gains Slowdown

US crude oil inventory sees the biggest drawdown since July 2023. TotalEnergies exits South Africa to focus on Namibia. Jefferies cuts Chevron's...

Mint Finance

Berkshire's Bullish Bet on Occidental Fails to Sway Market Sentiments

Berkshire buys Occidental shares for nine straight trading days between 5/Jun-17/Jun. Occidental has the largest acreage in the Permian and has...

Mint Finance

AUCTUS ON FRIDAY - 28/06/2024

Chariot has signed Heads of Terms with Vivo Energy for the future offtake from the Loukos onshore licence where natural gas has been encountered at...

Auctus Advisors

[ETP 26/2024] Oil Prices Drop on Surprise Inventory Build; Oil Majors Slide but Retain Gains

Inventory build-up in the US points to signs of weaker-than-expected summer demand, Nat-gas prices hit by rising output. Uptrend in oil & gas...

Mint Finance

[ETP 25/2024] Energy Majors Bounce Back; Their Expansion Spree Continues

Oil prices rise on seasonal demand growth and Middle East conflicts. Henry Hub slides on the forecast of cooler temperatures next week. Energy...

Mint Finance

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