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All the latest in Oil, Gas, Commodity news and analysis

Saudi Arabia Is Bullying OPEC Members Into Compliance
by Irina Slav
4 Jul 2020 at 5:00pm
First, they said it nicely: play along and cut to your quotas, or we?ll all suffer low oil prices for longer. Then they put their foot down: start cutting deeper or else. And now it has emerged what the ?or else? part was?a new price war. The Wall Street Journal?s Benoit Faucon and Summer Said reported earlier this week that Saudi Energy Minister Abdulaziz bin Saud had threatened Nigeria, Angola, and Iraq with another oil price war if they didn?t get in line with the production cuts, according to OPEC delegates.?

How Tesla Became More Valuable Than Exxon
by Alex Kimani
4 Jul 2020 at 4:00pm
It is now becoming increasingly clear that the world?s most popular electric vehicle manufacturer is an all-weather play that simply will not stop. Tesla Inc. (NASDAQ: TSLA) shares soared 9 percent on Monday?s session to close at a new all-time high of $1,208.34 after the company soundly beat delivery expectations for the second quarter. The Palo Alto, California-based EV manufacturer delivered 90,650 vehicles, easily smashing the Wall Street consensus of 83,000 units. The highest forecast was for ~86,000 units. The latest?

Moscow Backs Russia's Fastest Moving Energy Company
by Viktor Katona
4 Jul 2020 at 2:00pm
The COVID-induced recession that has brought oil and gas prices down to levels that are painful enough for most if not all major producers. In Russia the crisis has hit the populace much more than it did the government ? after all, the former had in most cases no (currency) reserves to rely on as a safety buffer. Russian companies remain somewhere in the middle of the suffering scale, most have cut capital expenditure and postponed major projects a couple of years down the road. NOVATEK, a company hardly known to the Western world 5 years?

Moon Mining Could Begin As Early As 2025
by OilPrice.com
4 Jul 2020 at 12:00pm
Plans to start mining the Moon as early as 2025 became more attractive this week after a US National Aeronautics and Space Administration (NASA) team found evidence that the Earth?s natural satellite may, underneath its surface, be richer in metals than previously thought. Using data from the Miniature Radio Frequency (Mini-RF) instrument onboard NASA?s Lunar Reconnaissance Orbiter (LRO), a team of researchers came to the conclusion that the lunar subsurface contains a higher concentration of certain metals, such as iron and titanium,?

The World?s Most Important Oil Consumers And Producers
by Robert Rapier
4 Jul 2020 at 10:00am
Following last week?s release of the BP Statistical Review of World Energy 2020, I began to review and analyze the data. Today I take a deeper dive into the numbers on petroleum. Oil accounts for a third of the world?s energy consumption. That is the greatest share for any category of energy. In 2019, the world consumed a record 98.3 million barrels per day (BPD) of oil. This was nearly 1 million BPD higher than consumption in 2018, and marked the 10th consecutive record for global oil consumption. Over the past 35 years, global oil?

Battery Metal Sector Sees Light At The End Of The Tunnel
by OilPrice.com
4 Jul 2020 at 8:00am
The world is in transition between a lead-acid battery past, and a future in which lithium-ion batteries are poised to supplant lead-acid batteries and to displace increasing volumes of transportation fuels. But will this year?s Covid-19 pandemic affect this transition? Today?s article explores the impact the pandemic is having on the battery sector. Lead-Acid Versus Lithium-Ion In a previous article ? Lead-Acid Batteries Are On A Path To Extinction ? I speculated that falling costs and better performance from lithium-ion?

High Quality Oil And Gas Assets Should Drive An M&A Recovery
by Tsvetana Paraskova
3 Jul 2020 at 3:00pm
The oil price collapse has taken its toll on mergers and acquisitions (M&A) across the U.S. oil and gas industry as companies preserve cash in these highly uncertain times. The appetite for dealmaking in the second quarter, when WTI Crude prices plunged to a negative $37 a barrel one day in April, was so low that Q2 ranked as the third-lowest quarterly value of upstream deals since 2009, oil & gas data analytics company Enverussaidthis week. Compared to the first quarter, the value of oil and gas deals jumped by?

Total Sends Drilling Rig To South Africa To Capitalize On Previous Success
by Julianne Geiger
3 Jul 2020 at 2:30pm
French oil giant Total SA has sent a drilling rig to South Africa in the hopes of duplicating its massive find there last February, Total?s partner in the project Africa Energy Corp said in a press release on Thursday. According to Africa Energy Corp (TSXV: AFE), the Odfjell Deepsea Stavanger sem-submersible rig has left Norway and is now headed to South Africa to drill the Luiperd-1 well in Block 11B/12B. It is the same rig that drilled the Brulpadda oil and gas discovery last February. Canada-based Africa Energy Corp holds a 49% stake in?

Houthis Aim To Repair Unrepairable Oil Tanker In Vital Shipping Lane
by Charles Kennedy
3 Jul 2020 at 1:30pm
The Houthi rebels in Yemenclaimthey have sent a team to repair an oil tanker full of 1 million barrels of oil sitting off the Yemeni coast for five years and threatening to leak oil into the sea or to explode. The maintenance team may not prevent the tanker from leaking oil because the Saudi-led coalition is not allowing access to the equipment needed for the repairs, Bloomberg quoted Mohammed Ali Al-Houthi, a member of the ruling political council of the Iran-aligned Houthis, as saying. The tanker is in an area controlled?

The Oil Rally Has Stalled Once Again
by Josh Owens
3 Jul 2020 at 12:00pm
Oil prices hit four-month highs this week, but bearish sentiment quickly snapped back into place and halted the rally.For Global Energy Alert members there are now two new free reports available in your dashboard. The first of these reports is on how to interpret stock charts and the second outlines the three biggest mistakes made by traders today. Make sure you become a member to read these reports and many more. (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge)Friday,?

Elon Musk Trolls SEC And Short Sellers As Tesla Stock Rallies
by Tsvetana Paraskova
3 Jul 2020 at 11:30am
Elon Musk took his Twitter feud with Tesla?s short sellers and the Securities and Exchange Commission to a whole new level on Thursday evening, mocking the traders who had bet against the EV maker, as well as the U.S. market regulator, as Tesla?sstock hit a new record-highof $1,208, rallying 7.95 percent. In a series of tweets, Muskasked, ?Who wears short shorts??, andsaidthat ?Tesla will make fabulous short shorts in radiant red satin with gold trim,? and ?Will send some to?

Oil Prices Fall As Demand Outlook Worsens In U.S.
by Tsvetana Paraskova
3 Jul 2020 at 10:00am
Oil prices fell early on Friday amid surging new coronavirus infections in the United States, which had market participants worried about the U.S. oil demand recovery trend. As of 9:20 a.m. EDT on Friday,WTI Crudewas down 1.28 percent at $40.13, andBrent Crudetraded down 1.23 percent at $42.61. Prices recovered somewhat later in the afternoon but were still trading about 1% off. Oil prices were still headed for a weekly gain this week as low supply from OPEC, encouraging economic data from the U.S. and China, and a drop?

Debt Destroys A Shale Giant
by Editorial Dept
3 Jul 2020 at 10:00am
1. Gasoline demand rebounds, jet fuel stays down- In the U.S., demand for petroleum products plunged by 7 mb/d between March and April. - Since then, demand has bounced back by 4 mb/d, according to Bank of America Merrill Lynch. Refiners initially shifted production mixes to relatively more diesel and less gasoline. - But because the rebound is concentrated in gasoline, as millions of people returned to driving and shunned mass transit, refiners will have to switch back. - ?This surge in demand, coupled with aforementioned yield shifts have?

How To Take Advantage Of The Energy Stock Selloff
by Editorial Dept
3 Jul 2020 at 10:00am
After a decade of disappointment for energy stocks, it is not surprising that when oil?s collapse really accelerated back in early March, anything even vaguely related to oil got hammered. When a sector sells off like that though, there are usually a few stocks that, when you look back after the dust has settled, just shouldn?t logically have gone with everything else. A good example would be DMC Global Inc. (BOOM). The Story For starters, not all of their business is directly connected to energy. DMC is the parent of two separate companies,?

The Multi-Billion Dollar Price Tag For Iraqi Oil Compliance
by Editorial Dept
3 Jul 2020 at 10:00am
Oil Powers Bought Iraqi Compliance - And Something Else, Too They may have paid for compliance, but they were really buying something else. With COVID-19 cases now starting to ravage a politically fragile Iraq - which is also the center of a proxy war between the US and Iran - there?s never been a better time for the country to ask for aid. Aid is a bargaining chip, and oil production cuts are the end game because Iraq is never in a financial position to comply. What Iraq wants, specifically, is an IMF loan of up to some $5 billion?

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