Daily Brief Energy/Materials: Red Hawk Mining , Venture Global LNG, Exxon Mobil, Natural Gas, Crude Oil, Japan Pure Chemical, Owens Illinois, International Seaways, UOB Kay Hian Holdings, GCC SAB de CV and more

• Via an off-market offer, Fortescue Metals (FMG AU)is aiming to purchase all shares of iron-ore play Red Hawk Mining (RHK AU) at A$1.05/share, a 28% premium to last close.
• If Fortescue secures at least 75% of Red Hawk’s shares within seven days, the Offer Price increases to A$1.20/share, a 46% premium to last close
• Fortescue’s focus is on Red Hawk’s Blacksmith iron ore project, located ~30 kilometers west of Fortescue’s own Solomon project.

• Venture Global (VG US) is forecasted to fail fast-entry to S&P TMI due to insufficient fcap but is expected to be added at the March 2025 review.
• Venture Global (VG US) is expected to be excluded from Global & US indices due to low fcap and public voting rights mainly caused by the company’s unlisted shares. 
• The probability of inclusion in Global & US indices increases exponentially with the selling of Class B shares by Venture Global Partners.

• Exxon will be announcing its Q4 earnings on 31/Jan, with its EPS projected to fall sequentially and annually. For fiscal 2024, revenue and EPS are expected to drop.
• As of 28/Jan, Exxon’s implied volatility (IV) stands at 21.86%, with an IV rank of 40.38% and an IV percentile of 57%.
• Exxon’s OI by strike for the 31/ Jan expiry shows calls concentrated at strikes 112, 114, and 115, while puts dominate at 102, 104, and 108.

• For the week ending 24/Jan, U.S. natural gas prices gained 2% amid volatility driven by colder weather forecasts and increasing LNG exports.
• Henry Hub Put/Call volume ratio fell to 1.05 from 1.18 (17/Jan) the previous week as call volumes rose by 7.2% WoW, while put volumes declined by 4.3%. 
• Henry Hub OI PCR inched up to 0.93 from 0.92 from last week. Call OI grew by 4.4% WoW, while put OI increased by 5.5%.

• WTI futures fell by 3.5% for the week ending 24/Jan on the back of downward pressure from Trump’s hydrocarbon output policies and brewing trade disputes.
• WTI options Put/Call volume ratio fell to 0.85 from 1.28 (17/Jan) last week, as call volume rose by 8.3% WoW while put volume decreased by 28.4%.  
• WTI OI PCR rose to 1.01 from 1.00 last week. Call OI rose by 5.7% WoW and put OI increased by 7.3%.

• Revenue reached JPY10.1bn, a 15.4% YoY increase, with operating profit at JPY417mn, up 46.4% YoY.
• Net income surged 259.1% YoY, mainly due to gains from the sale of company-held shares.
• Sales of plating chemicals for AI servers and data centers remained strong, while industrial equipment demand was sluggish.

• O-I Glass is undergoing a transformation under new CEO Gordon Hardie, with potential for significant upside
• The company is streamlining its business to eliminate legacy liabilities and create value for shareholders
• Mr. Hardie’s turnaround plan, Fit to Win, is expected to improve margins, working capital management, and returns on invested capital, making OI a compelling investment opportunity for long-term growth and value creation.

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

• International Seaways (INSW) is seen as an attractive long-term investment due to its diverse fleet of tanker vessels
• Despite management and insiders holding a small amount of stock, the company has been effective and John Fredriksen has acquired a significant ownership stake
• Shares are trading below NAV and TEV, indicating potential for growth and possible aggressive actions from Fredriksen in the future

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

• 10 Questions for International Cement Group What are some of your business segments, and how are they performing? International Cement Group’s principal business is in the production and distribution of cement in two major countries in Central Asia – Kazakhstan and Tajikistan – accounting for more than 95% of revenue.
• Why is this a focus market for International Cement Group, and how does the Group navigate potential challenges?.

• GCC posted positive results, above our estimates at the EBITDA level.
• Although revenues decreased by 1% YoY, higher prices in cement and ready-mix and cost contention were the main drivers behind a 1.8 pp EBITDA margin expansion, reaching a 36.3% level.
• Revenues of US$335 M (-1% YoY) were driven by a 14% contraction in Mexico and a 4% YoY gain in revenues in EE.UU.