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GLOBAL LNG-Asian LNG prices stable as oversupply continues   Jul 03, 2020
Asian spot liquefied natural gas (LNG) prices were stable this week, with demand still sluggish in an oversupplied market. Reuters  

UPDATE 1-Russia temporarily halts parts of Nornickel power unit after fuel spill   Jul 03, 2020
A fuel tank lost pressure on May 29 and unleashed 21,000 tonnes of diesel into rivers and subsoil near the city of Norilsk, an incident that Greenpeace has compared to the devastating 1989 Exxon Valdez oil spill off Alaska. Reuters  

Do Asset Write-Offs Matter? Not Really   Jul 03, 2020
We are witnessing an avalanche of staggering asset write-offs by oil companies. Are these write-offs a signal to dump the stock? The bad news has often been bak Seeking Alpha  

Next Africa: Where’s Zimbabwe Headed?   Jul 03, 2020
While Zimbabwe ostensibly has a civilian government, its guarantor is the military and the men and women in uniform are becoming impatient. Mnangagwa has reason to be nervous. He promised a flood of foreign investment and political reforms. Bloomberg  

REFILE-UPDATE 1-Russia's Novak sees global oil output cuts easing from August   Jul 03, 2020
Russian Energy Minister Alexander Novak said on Thursday that the OPEC+ group of oil producers is expected to start easing oil output cuts from August as previously agreed. Reuters  

BRIEF-Hindustan Oil Exploration Temporarily Suspends Ops At PY-1 Field   Jul 03, 2020

Nord Stream 2 Could Sever Transatlantic Ties   Jul 03, 2020
U.S. President Donald Trump is furious at Germany for many reasons, not all of them fathomable. In phone conversations with Angela Merkel, he’s allegedly called the German chancellor “stupid” and denigrated her in “near-sadistic” tones. YAHOO!  

Oil slides as fears grow that coronavirus resurgence could stunt fuel demand recovery   Jul 03, 2020
Oil prices fell on Friday, reversing earlier gains, as the resurgence of the coronavirus globally and in the United States, the world's largest oil consumer, stoked worries that a fuel demand recovery could stall. Reuters  

Meet the diesel delivery startup powering Delhi Metro, L&T, Taj Hotels   Jul 03, 2020
Delhi-based diesel delivery startup Humsafar is cashing in on the rising demand for doorstep fuel. It has processed 8,000 transactions in four months. YAHOO!  

Reuters Daily Oil Brief - July 3   Jul 03, 2020
To access a PDF version of this newsletter, please click here You can also read Reuters Daily Oil Brief via TOPNEWS Commodities & Energy page or if you would like to receive this newsletter through your email, Reuters  

India’s Oil Demand from Cars to Factories Limps Toward Normalcy   Jul 03, 2020
(Bloomberg) -- The world’s fastest-growing oil market is showing an uneven recovery two months after easing demand-destroying virus-control measures.Provisional fuel sales in June had climbed within 88% of 2019 levels from less than half in April in the midst of the world’s biggest lockdown, YAHOO!  

Refiner Phillips 66's return-to-work policy stirs unease as virus flares   Jul 03, 2020
About 20 employees of U.S. oil refiner Phillips 66 tested positive at its Texas headquarters for COVID-19 in recent weeks, people familiar with the matter said, alarming employees as the company strove to keep staff working in its offices. Reuters  

Dow Fends off Late Selling on Virus Spread to End Week Higher   Jul 03, 2020
Wall Street fended off late selling to end higher for the week on Thursday as concerns about rising coronavirus cases offset a stronger-than-expected jobs report. The Dow Jones Industrial Average gained 0. YAHOO!  

Cenovus oil shipment leaves West Coast bound for eastern refineries — via Panama Canal   Jul 03, 2020
Cenovus Energy is sending a shipment of crude oil down through the Panama Canal as part of its first-ever transaction with New Brunswick's Irving Oil. The oil shipment will make the 11,900-kilometre journey to Irving's refinery in Saint John by tanker ship,  

Oil Set for Weekly Gain With Economic Optimism Outweighing Virus   Jul 03, 2020
Oil slipped Friday but remained on track for a weekly gain as aggressive supply cuts and better-than-expected U.S. economic data overshadowed a surge in coronavirus cases in the world’s largest economy. YAHOO!  

Exxon Is Big Oil’s Outlier In The Post-Pandemic World   Jul 03, 2020
While oil majors stuck to spending discipline after the 2015-2016 price crash, ExxonMobil was the one to stand out from the crowd as it increased capital expenditures to boost production. OilPrice  

U.S. Stocks Set To Open Higher As Non Farm Payrolls Report Easily Beats Expectations   Jul 03, 2020
Initial Jobless Claims Report Shows That 1.43 Million Americans Filed For Unemployment Benefits In A Week. The U.S. has just released new Initial Jobless Claims and Continuing Job YAHOO!  

Oil Set for Weekly Gain as Economic Green Shoots Outweigh Virus   Jul 02, 2020
Oil is on track to resume its weekly uptrend, boosted by signs that the world’s biggest economy is recovering from coronavirus-related lockdowns, even as fears linger over a resurgence. Bloomberg  

Stocks to Sell in July   Jul 02, 2020
Chesapeake has run up debt of more than $9 billion, but the company has reached a deal with creditors to restructure and cut the debt amount by about $7 billion. The New York Stock Exchange has starte YAHOO!  

Oil Closes at Highest Since Early March on Robust Jobs Report   Jul 02, 2020
Oil closed at its highest level in almost four months before the U.S. holiday weekend, cheered by signs the world’s biggest economy is recovering from coronavirus-related lockdowns, even as fears linger over a resurgence. YAHOO!  

Russian Energy Minister: Global Oil Investment To Drop By One-Third   Jul 02, 2020
Global investment in oil is set to plunge by one-third this year due to the coronavirus and its effect on economies and oil demand, Russia’s Energy Minister Alexander Novak said OilPrice  

Coronavirus Takes a Toll on Shell Imposing $15-$22B Write-Offs   Jul 02, 2020
Shell (RDS.A) expects second-quarter LNG liquefaction volumes to shrink to 8.1-8.5 million tonnes from its prior-year quarterly output of 8.66 million tonnes. YAHOO!  

Royal Dutch Shell: Management's Proactive Steps Make The Stock A Long-Term Keeper   Jul 02, 2020
Royal Dutch Shell released an update on the second-quarter 2020 guidance. A non-cash impairment of up to $22 billion is expected in Q2. Upstre Seeking Alpha  

Wall Street sees Exxon paring asset values on weakening demand   Jul 02, 2020
Exxon Mobil Corp assets are likely overvalued in light of weak oil-demand outlook, according to Wall Street analysts, and face write-downs as soon as this month. Reuters  

Duke Energy Florida proposes new program providing solar access to customers while lowering bills over time   Jul 02, 2020
Duke Energy Florida (DEF) today filed a proposed new Clean Energy Connection (CEC) Program with the Florida Public Service Commission. YAHOO!  

Goldman Sachs: Prepare For A Global Consolidation Of Refineries   Jul 02, 2020
A wave of new oil refineries coming online in the Middle East and China will knock others offline, ushering in a period of consolidation according to investment bank Goldman Sachs OilPrice  

Outlook on the Industrial Radiography Global Industry to 2027 - Drivers, Restraints, Opportunities & Threats   Jul 02, 2020
The "Industrial Radiography - Global Market Outlook (2019-2027)" report has been added to's offering. YAHOO!  

Wyoming officials to meet Monday on possible $1B land bid   Jul 02, 2020
Gov. Mark Gordon and other top Wyoming officials plan to meet Monday to discuss whether to bid on Occidental Petroleum’s land holdings in Wyoming, Utah Associated Press  

Covid-19 Is Crushing This African Oil Exporter -   Jul 02, 2020
Angola, one of Africa’s largest oil exporting nations has taken a massive hit from covid-19, preventing the country to pay of its debt to its main trading partner China OilPrice  

Crude Oil Price Forecast – Crude Oil Markets Continue With Same Song and Dance   Jul 02, 2020
Crude oil markets have been extraordinarily quiet over the last several days, and Thursday was going to be no different. We are currently stuck in a major range. YAHOO!  

Crude Oil Price Update – August WTI Futures Need to Hold $39.36 to Sustain Rally   Jul 02, 2020
The direction of the August WTI crude oil market on Thursday is likely to be determined by trader reaction to the 50% level at $39.36. YAHOO!  

Moody’s Turns Bearish On Oil Demand Growth   Jul 02, 2020
Moody’s and the Boston Consulting Group have both issued bearish outlooks for oil demand, citing that the covid-19 pandemic has sped up the transition away from oil OilPrice  

Oil Price Fundamental Daily Forecast – Prices Retreat from Highs Ahead of Long Holiday Weekend   Jul 02, 2020
U.S. West Texas Intermediate and international-benchmark Brent crude oil futures are trading nearly flat at the mid-session in a mostly lackluster trade on Thursday. The markets showed little reaction to the better-than-expected U. YAHOO!  

Crude Oil Price Forecast – Crude Oil Markets Continue Same Range   Jul 02, 2020
Crude oil markets have done little on Wednesday, as we await inventory figures coming out rather bearish, but we have the jobs number coming out on Thursday. YAHOO!  

Stocks rise on jobs data, S&P 500 ends week with solid gain   Jul 02, 2020
Stocks are closing higher Thursday after a report showed the U.S. job market continues to climb out of the crater created by the coronavirus pandemic in the spring. The S&P Associated Press  

Natural Gas Price Fundamental Daily Forecast – EIA on Tap, but Hot Weather Remains Main Focus   Jul 02, 2020
If there is a rally, it will be traders betting on a hot weekend. If the market breaks then this will indicate traders have doubts about the heat. YAHOO!  

It May Get Worse, But Shell's On The Right Track   Jul 02, 2020
Demand and energy prices will continue to face headwinds well into 2021. The dividend cut, investment in renewables, and more CAPEX on gas will ensure Shell con Seeking Alpha  

Michigan judge allows partial reopening of Enbridge's Line 5 pipeline   Jul 02, 2020
A U.S. judge allowed Enbridge to resume pumping oil through its Line 5 pipeline in Michigan on Wednesday, nearly a week after shutting it down because of damage to a structure that anchors a section of the line running through a Great Lakes channel.  

Magnolia Oil & Gas: Cash-Flowing Black Gold   Jul 02, 2020
One of the few energy companies able to cash flow at current oil & gas prices. CEO confidence through recent large share purchases. Ability to withstand the oil Seeking Alpha  

Exxon signals 2nd straight quarterly loss   Jul 02, 2020
Exxon Mobil signaled it'll suffer its second consecutive quarterly loss. As Fred Katayama reports, its oil and gas producing and refining businesses will report operating losses in the second quarter. Reuters  

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Cabot Oil & Gas Corporation - COG   Jul 02, 2020
Pomerantz LLP is investigating claims on behalf of investors of  Cabot Oil & Gas Corporation (“Cabot Oil” or the “Company”) (NYSE: COG).   Such. YAHOO!  

Nalcor assets take a beating from pandemic-fuelled oil collapse   Jul 02, 2020
Nalcor Energy has been hit hard by a collapse in the oil sector, resulting in a big writedown in the value of its oil and gas investments.  

U.S. oil & gas rig count hits record low for 9th week -Baker Hughes   Jul 02, 2020
U.S. energy firms cut the number of oil and natural gas rigs operating to a record low for a ninth week in a row although the reductions have slowed as higher oil prices prompt some producers to start drilling again. Reuters  

Oil Rig Count Collapse Beginning To Slow   Jul 02, 2020
Baker Hughes reported on Thursday that the number of oil and gas rigs in the US fell again this week, by 2, to 263 OilPrice  

Former Alberta trade representative to lead Canada Energy Regulator   Jul 02, 2020
The federal government has picked Gitane De Silva to be the chief executive of the national energy regulator, created last year.  

Pump or dump? With oil in decline, Africa ponders its energy future   Jul 02, 2020
The crisis - which comes as more investors shun carbon-heavy businesses - is a taste of what may happen if Africa’s rich oil and gas reserves become “stranded assets” that cannot be pumped as the world shifts to clean energy to meet climate goals. Reuters  

Oil Stockpiles Fall More Than Expected, Down 7.2M Barrels: EIA   Jul 02, 2020 -- Crude oil stockpiles fell by more than expected, according to the Energy Information Administration. Inventory fell 7.2 million barrels for the week ending June 27 compared to a ... YAHOO!  

Emami Agrotech forays into blended edible oil segment   Jul 02, 2020
Riding on the growing demand for products boosting immunity in the COVID-19 time, Emami Agrotech on Thursday forayed into the blended edible oil market. YAHOO!  

Near-record oil stockpiles at U.S. Gulf Coast pressure prices of domestic grades   Jul 02, 2020
Near-record crude stockpiles at the U.S. Gulf Coast will anchor prices of domestic oil grades through the end of this year and into next, traders and analysts said. Reuters  

Exxon Is Set For Second Consecutive Loss In Q2   Jul 02, 2020
ExxonMobil may be set for its second consecutive loss in Q2 as the oil price collapse and weak refining margins will hit both the upstream and downstream divisions of the U.S. supermajor Crude Oil Prices  

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