Craig Barry

The Czech Republic's Litvinov and Kralupy refineries are shifting away from Russian crude oil, with significant implications for the market. Jim Mitchell, Director of of Oil Trading Analytics, explains more and how the TransAlpine pipeline and storage facilities play a crucial role in maintaining supply: https://okt.to/ry5bVm #CrudeOil #Commodities

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📊 Curious about the latest trends in M&A deals? Our new report reveals why cash-based mergers in North America’s upstream sector are receiving fewer positive market reactions. 🔗 Download your free copy here: https://lnkd.in/gzJvNuyn #oilandgas #energy #mergers #acquisitions

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GOAL ABANDONED BP Abandons Goal to Cut Oil Output, Resets Strategy https://hubs.la/Q02SmKzh0 BP has abandoned a target to cut oil and gas output by 2030 as CEO Murray Auchincloss scales back the firm’s energy transition strategy to regain investor confidence, three sources with knowledge of the matter said. #bp #oiloutput #oilandgasindustry #energyindustry #oilandgas

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The US oil and gas sector is witnessing a surge in mergers and acquisitions, nearing record levels for 2023. According to Rystad Energy, the focus is shifting away from the Permian Basin, with companies exploring new opportunities in other regions. This trend highlights the dynamic nature of the industry and the strategic moves companies are making to adapt to changing market conditions. https://lnkd.in/gqS9NPfg

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🔊 Chevron Secures 20-Year Deal for 2 Million Metric Tons of LNG Annually with Energy Transfer #Chevron #EnergyTransfer #LNG #LouisianaTerminal #EnergyDeal #LiquefiedNaturalGas #ChevronLNG #EnergyIndustry #USExports #GlobalEnergy #LNGAgreement #SustainableEnergy #BidenAdministration #EnergyPolicy #EnergyNews #LNG #LNGNews https://lnkd.in/eV4_zuiW

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Texas Oil & Gas Fuels Economic Growth Amid Global Energy Challenges Geopolitical tensions, particularly with Iran and Russia's war in Ukraine are creating price premiums and supply risks in the oil markets. Dean Foreman, Ph.D., Chief Economist Texas Oil & Gas Association joined Grayson Brulte on the Autonomy Economy podcast to discuss the pivotal role of the energy industry in driving economic expansion amid global uncertainties. 🎧 Listen on Apple Podcasts: https://lnkd.in/gVqyMGGH 🎧 Listen on Spotify: https://lnkd.in/gA9mQyma 🎥 Watch on X: https://lnkd.in/gCGfn6Cj 🎥 Watch on YouTube: https://lnkd.in/giYJBxwp #AutonomyEconomy #RoadToAutonomy #TXOGA #Oil #OilandGas #TexasOil #Economics #GeoPolitical #Podcast #OilMarkets #Economy #GlobalEconomy

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Oil prices eased from a week ago as concerns about Chinese demand growth offset evidence of stronger demand in the U.S. Natural gas prices continued to fall as strong production and lower demand are keeping storage levels high. Natural gas demand has been lower than it was before Beryl due to the offline Freeport LNG export terminal, damaged during Hurricane Beryl, in addition to massive power outages in Texas that reduced natural gas burn at electric generators. The combined oil and natural gas rig count fell by two to 578 last week, marking the fifth decline in six weeks.

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The U.S. continues to drive growth as the largest LNG exporter, reflecting its sustained investment in liquefaction projects and an increase in production capabilities #RegionalReport #LNG #naturalgas Read more: https://ow.ly/C7ia50UAuQC

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The Czech Republic's Litvinov and Kralupy refineries are shifting away from Russian crude oil, with significant implications for the market. Great to see Jim Mitchell, Director of of Oil Trading Analytics, explain more and how the TransAlpine pipeline and storage facilities play a crucial role in maintaining supply: https://okt.to/6P38zf #CrudeOil #Commodities

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Consolidation in the US shale has driven an elevated level of global upstream merger and acquisition activity since late 2023. This wave of consolidation started with ExxonMobil’s acquisition of Pioneer Natural Resources for $64.5 billion in October 2023 and has resulted in several US shale-focused E&Ps participating in it since then. Between the last quarter of last year and the second quarter of this year, US shale-focused deals have consistently accounted for more than 50% of the total global upstream deal value – a feat never achieved. In 23 quarters between 2019 and the third quarter of 2024, US shale has dominated activity with the largest share of the pie in terms of deal value for the last 15 quarters. While US shale continues to dominate M&A activity in 3Q24 with a 28% share, we are seeing a slowdown in the consolidation wave, which has, in turn, resulted in a slow quarter for global M&A as well – substantiating US shale’s role in defining the pace of global M&A. In terms of absolute numbers, US shale deal-making stood at $8.5 billion in 3Q24, marking the lowest quarterly level since consolidation started in 4Q23. Similarly, global upstream deal value stood at $30 billion in 3Q24, the lowest level since 4Q23. #MergersAndAcquisitons #upstreaminvestment #rystadenergy

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Crude Oil & Natural Gas in the US were largely net-flat, with natural gas ending up a bit higher, despite having a lesser impact on material pricing versus years past. Clip from Episode 110: Premiering July 9th at 11am EST #oil #gas #podcast #chemicalindustry

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Kimmeridge Texas Gas and Commonwealth LNG sign natural gas & LNG Heads of Terms with Glencore - Kimmeridge Texas Gas and Commonwealth LNG have signed a Heads of Terms agreement with Glencore to form a strategic natural gas and LNG partnership. - Glencore will purchase 2 million tonnes per annum of LNG for 20 years from Commonwealth and equivalent natural gas from KTG under a netback agreement at international prices. - Definitive agreements are expected to be finalized in Q4 2024. - Commonwealth anticipates a final investment decision on its LNG export facility in Louisiana in the first half of 2025, with initial LNG production expected in 2028. - KTG's CEO stated that the partnership will help KTG become a fully integrated energy provider. - Glencore’s Global Head of LNG expressed excitement about the partnership and its potential to support energy transition goals. - Kimmeridge Texas Gas produces approximately 400 million cubic feet equivalent of natural gas and oil per day and has around 148,000 net acres in Texas. - Commonwealth LNG is developing a 9.5 mtpa LNG export terminal near Cameron, Louisiana, focused on managing risk and lowering capital costs. - Glencore is a major diversified natural resource company involved in the production and marketing of over 60 commodities. - Glencore aims to achieve net zero total emissions by 2050 and is actively participating in various industry initiatives for transparency and responsibility. https://lnkd.in/gjTPSgxK

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During the 2020 lockdowns when oil demand crashed and inventories were overflowing the CEO of Pioneer encouraged production restraint to stabilize the market. The Federal Trade Commission interpreted this as cartel style collusion with OPEC, took a hard line from a competition point of view and barred him from serving the board of Exxon that acquired Pioneer. There is no doubt that the FTC’s stance is consistent with the Biden Administration’s core energy policy priority of ensuring abundant and cheap gasoline for American drivers. However, lets not stop halfway. The oil and gas landscape is riddled with collusive action to artificially reduce supply, damaging American consumers. Looking forward to seeing the tough, determined competition policy action against: ·       The ESG / activist shareholder resolution proposals that aim to force companies reducing oil and gas supply to consumers (this is what a binding scope 3 obligation would mean). Often, these are filed at multiple companies simultaneously, asking the shareholder assemblies to confirm a cartel. ·       The “stop new oil and gas infrastructure” movement that aims to drive up prices by creating a non-market supply barrier which will generate rents. In contrast to 2020 when prices were crashing and even briefly going negative currently these misguided attempts are unfolding in the context of a robust global oil demand recovery. During the post Covid surge Iran newly added more than a Shell to its production and Russia maintained its exports at a level of 4 Shells as Western geopolitical strategy was looking the other way. Meanwhile Shell is facing protests and lawsuits for trying to stabilize production at 20% below the pre Covid level. We have consistently argued that the reduction of supply side investment should take place in step with the physical transition of demand, not prematurely, precisely to avoid hurting consumers. The negative security consequences of artificially constraining supply in the United States have been already clear, now the FTC sheds a light on its negative impacts on consumer welfare. 

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ICYMI: Oil & Gas Journal's Conglin Xu, Managing Editor - Economics, highlights a recent International Energy Agency (IEA) #oilmarket report, breaking down latest trends in global #oildemand, nuances of supply dynamics, and the state of refining margins. https://lnkd.in/geSfu6zk #OGJ #oilandgas #podcast #OGJReEnterprised #endeavorbusinessmedia

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Refining margins fall as risk premium from Hurricane Beryl fades Last week saw refinery margins decline in all regions and across almost all setups. USGC and Mediterranean margins fell by over $1-2/bbl w-o-w on a weekly average basis, while NWE and Asian refiners saw drops of less than $1/bbl. The drop in margins was driven by the slump in global gasoline and middle distillate cracks. Gasoline cracks fell the most in the USGC as Hurricane Beryl only had a limited impact on refining operations. To learn more, please click here...https://fgner.gy/4bHOP6V #oil #OOTT #refining #gasoline #HurricaneBeryl #asia

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Daily Chemical Reaction - April 23: How Strong is The Incentive to Integrate Refining and Chemicals – Aramco Moves Again | https://lnkd.in/ggcNN6af 🔍General Thoughts: Global chemical producer strategic outlooks will be a focus this earnings season, as the global market faces a steep production cost curve and stiff challenges to lift returns while growing low-carbon solutions. 🔍Supply Chain/Commodities: We discuss Aramco ambitions in China, rising country-level rhetoric towards others dumping excess product into their markets, and we display global ethylene margins to highlight the US advantage. 🔍Energy/Upstream: We expect crude-oil refiners to display strong margins in 1Q24, though recognizing that part of it was due to outages, and we discuss a few global LNG and crude-oil export capacity growth initiatives. 🔍Sustainability/Energy Transition: We provide a view of biomass market developments, with many of them facing considerable challenges without substantial subsidies, and we discuss cost issues facing offshore wind projects. 🔍Downstream/Other Chemicals: Global freight rates continue to moderate from YTD highs, though China rates to Western markets remain much higher than 2H23, which is helping some Western markets stay relatively tight. Companies: PPG, Sherwin-Williams, AkzoNobel, Dow, LyondellBasell, Marathon Petroleum Corporation, Phillips 66, Valero, aramco, Hengli America, INEOS, SINOPEC, Plug Power, Enterprise Products, Enbridge, TotalEnergies, BASF, GE, Topsoe Commodities: #Ethylene, #CrudeOil, #Polycarbonate, #Olefins, #PropionicAcid, #Polyethylene, #LNG, #NaturalGas, #Biomass, #Hydrogen, #Syngas, #CO2, #Wind, #Solar, #Steel, #Cement, #Renewable #Diesel, #SAF, #Biomethane, #Bionaphtha, #Ethanol

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Permian M&A: Oxy Shops Delaware Assets, Family Oil Cos. Stand Out As operators scour the Permian Basin for M&A opportunities, they’re keeping an eye on a tepid divestiture market. Family-owned oil companies also stand out among the pack of private inventory holders remaining in the Permian, according to Enverus Intelligence Research. Read more: https://lnkd.in/gVz63U-n

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