Friday, April 12, 2019
Energy, Petrochemicals and Plastics 12
1 Goldman: Oil Prices Won’t Reach $80
https://oilprice.com/Energy/Energy-General/Goldman-Oil-Prices-Wont-Reach-80.html
Oil prices soared in recent days, with Brent rising to its highest point since early November. The tightness in the market is real, but prices may not increase a whole lot more from here. “We don’t think you’re going to get back to those $80 levels again, so you’ve got some modest upside here,” Goldman Sachs’ head of commodities research, Jeff Currie, told CNBC this week.
2 Chevron Buys Anadarko
https://www.rigzone.com/news/wire/chevron_buys_anadarko-12-apr-2019-158589-article/
Chevron Corp. agreed to buy Anadarko Petroleum Corp. in a $33 billion bet on shale oil and liquefied natural gas. Chevron will acquire all outstanding shares in Anadarko for $65 each, paying with a mixture of cash and its own stock. That’s a premium of 39 percent to the closing price on Thursday. Anadarko’s shares soared to $62 in pre-market trading.
3 Turn around a stalled oil and gas digital transformation
https://www.mckinsey.com/industries/oil-and-gas/our-insights/rebooting-your-stalled-digital-transformation-in-oil-and-gas
Does this sound like your company? You’ve been investing in digital and advanced-analytics solutions for at least two or three years. You’ve set priorities, given them plenty of leadership attention, and hired new talent to build your organization’s capabilities. You’ve invested in new technologies, software solutions, and external support to make sure you’re on the right path. In short, you’ve done everything you can to make your digital transformation a success. Yet you can’t help feeling that it is stalling.
4 The Next Geopolitical Flashpoint For Oil
https://oilprice.com/Energy/Energy-General/The-Next-Geopolitical-Flashpoint-For-Oil.html
From a Western point of view, the removal of president Bashir of Sudan, after several weeks of mass protests in Khartoum and other cities, is in line with the exit of Algeria’s long-time leader Abdelaziz Bouteflika. Optimism in the press, especially in the West, over both developments seem to be based on emotions and not on facts. As the Arab Spring has shown, don’t ever count out the existing power structures of the respective regimes, and specifically the armed forces. The Egyptian revolution was the first example, shortly after the ‘democratic revolution’ the military took over and reinstated the status quo.
5 Exclusive: Arrival of Putin’s judo partner squeezed Shell out of LNG project
https://www.reuters.com/article/us-gazprom-shell-exit-exclusive-idUSKCN1RN2K5
Royal Dutch Shell pulled out of a project to build a Russian liquefied natural gas plant partly because Gazprom suddenly added another partner with links to an ally of President Vladimir Putin, according to five sources.
6 LNG Canada makes CEO swap
https://www.lngworldnews.com/lng-canada-makes-ceo-swap/
LNG Canada said that its current CEO Andy Calitz is to leave his post and will be replaced by the incoming CEO Peter Zebedee, with effect on July 1, 2019.
7 Why Amazon Is Suddenly Courting Big Oil
https://oilprice.com/Energy/Energy-General/Why-Amazon-Is-Suddenly-Courting-Big-Oil.html
For years, Big Tech has been a vocal advocate of powering their data centers with renewable energy, while the multi-billionaire founders of companies like Amazon, Microsoft, and Facebook have teamed up to invest in new technologies for cheaper energy in an emission-free future.
8 Venezuela oil output plummets to 870,000 bpd on outages, sanctions: IEA
https://www.reuters.com/article/us-iea-oil-idUSKCN1RN0QY
Global oil supply dropped in March as U.S. sanctions and power outages pushed Venezuela’s crude output to a long-term low of 870,000 barrels per day (bpd), the International Energy Agency said on Thursday, even lower than OPEC reported the day before.
9 Smart Money Is Piling Into Oil
https://oilprice.com/Energy/Crude-Oil/Smart-Money-Is-Piling-Into-Oil.html
Oil prices jumped to five-month highs this week, pushed higher by a bullish cocktail of supply outages, geopolitical unrest and a sputtering shale sector.
10 ‘Climate before cash’: young Norwegians call time on oil industry
https://www.reuters.com/article/us-norway-oil-insight-idUSKCN1RO0L1
When Norway’s largest political party decided that the Lofoten Islands in the north should not be opened up to oil exploration, a chill ran down the spine of the energy industry.
