By Paul Sankey
Published on January 9, 2022 at 3:31 PM
Yesterday I took on re-modelling the oil market according to the new world order: OPEC+. But I also spoke to a top hedge fund portfolio manager, US mega-player, who is based in Singapore for a couple of months. He made the following points: Strong Singapore economy with staff shortages – he waited an hour for a coffee the other day China cutting back on energy intensity. Brain drain from Hong Kong. Massive capex cycle starting […]
Read More
By Paul Sankey
Published on January 5, 2022 at 8:42 AM
Wildcard 2022 year starter: Kazakhstan declares state of emergency amid unrest. A member of OPEC+ that has failed to meet its quota increases, at times in 2020. Yesterday’s OPEC meeting was a rubber stamp. The question is when they meet in person to re-set quotas more sensibly. June is the best guess. Kazkahstan is a major concern for Chevron, although their massive Kazakh operations are totally remote in what is the lowest population density country […]
Read More
By Paul Sankey
Published on January 4, 2022 at 8:37 AM
Our refining conference opened yesterday with an entertaining and informative conversation with the senior management of PBF: Tom Nimbley, Chairman and CEO, Matt Lucey, President, and Erik Young, CFO, and Colin Murray, IR. Noted in passing: OPEC meeting today, huge bull story over the past week was Russia’s December production numbers that once again failed to meet quota and remained flat with November at 10.93mb/d. Russian gas flows are also again very low to Europe […]
Read More
