Energy Transition | AI | Shifting World Order, Mint Finance

Suhas Reddy

Energy Transition | AI | Shifting World Order

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

Commodities

Crude oil is a naturally occurring, unrefined petroleum product composed of hydrocarbon deposits and other organic materials. Crude oil can be refined to produce usable products such as gasoline, diesel and various forms of petrochemicals. It is a nonrenewable resource, also known as a fossil fuel, which means that it can't be replaced naturally at the rate we consume it and is therefore a limited resource.

<ul>
<li>US oil and gas rig count increased by two to 586 for the week ending 19/Jul, rising for the second time in the last three weeks.  </li>
<li>US oil rig count fell by 1 to 477, declining for the second straight week. Gas rigs rose by 3 to 103, after falling by one the week prior.</li>
<li>The EIA has increased its US crude production forecasts in its latest STEO report, raising them by 0.8% YoY for 2024 and 0.4% YoY for 2025. </li>
</ul>


US oil and gas rig count increased by two to 586 for the week ending 19/Jul, rising for the second time in the last three weeks.  
US oil rig count fell by 1 to 477, declining for the second straight week. Gas rigs rose by 3 to 103, after falling by one the week prior.
The EIA has increased its US crude production forecasts in its latest STEO report, raising them by 0.8% YoY for 2024 and 0.4% YoY for 2025. 


Pickup in Gas Rigs Drive U.S. Oil & Gas Rig Count Higher

Amrutha Raj

Thematic (Sector/Industry)

<ul>
<li>Wheat Prices declined over a large US harvest forecast, but bargain buying and strong demand over cheaper Russian wheat offered support.</li>
<li>Corn Prices declined but tighter stocks kept a leash on losses. Weather concerns in Ukraine and the US provided some support, while record high ethanol production suggests strong demand.</li>
<li>Soy Prices fell the most due to ample global supplies and doubts about Chinese demand. A larger Brazilian crop estimate adds downward pressure.</li>
</ul>


Wheat Prices declined over a large US harvest forecast, but bargain buying and strong demand over cheaper Russian wheat offered support.
Corn Prices declined but tighter stocks kept a leash on losses. Weather concerns in Ukraine and the US provided some support, while record high ethanol production suggests strong demand.
Soy Prices fell the most due to ample global supplies and doubts about Chinese demand. A larger Brazilian crop estimate adds downward pressure.


[CB 28/2024]: Volatile Week for Grains; Massive US Harvest Leads Bearish Sentiment

Top 10 Mega Caps | Artificial Intelligence, Mint Finance

Uttkarsh Kohli

Top 10 Mega Caps | Artificial Intelligence

Equity Bottom-Up

Taiwan Semiconductor (TSMC) - ADR / Equity Bottom-Up

Taiwan Semiconductor Manufacturing Company Ltd. manufactures integrated circuits based on its proprietary designs.  The Company offers a comprehensive set of integrated circuit fabrication processes to manufacture CMOS logic, mixed-mode, volatile and non-volatile memory and BiCMOS chips.  Taiwan Semiconductor is an affiliate of Philips Electronics N.V.

Taiwan Semiconductor (TSMC) - ADR (TSM US)

<ul>
<li>TSMC's Q2 revenue hits NT$673.51 billion, exceeding expectations amid strong demand for advanced chips.</li>
<li>TSMC to grapple with tight supply through 2025, striving to meet soaring global demand across various sectors.</li>
<li>TSMC on track for 2025 mass production of 2nm chips, enhancing capabilities for more powerful and efficient technologies.</li>
</ul>


TSMC's Q2 revenue hits NT$673.51 billion, exceeding expectations amid strong demand for advanced chips.
TSMC to grapple with tight supply through 2025, striving to meet soaring global demand across various sectors.
TSMC on track for 2025 mass production of 2nm chips, enhancing capabilities for more powerful and efficient technologies.


TSMC Shatters Q2 Expectations Bolstered by Strong AI Chip Demand

TOTAL S.A. explores for, produces, refines, transports, and markets oil and natural gas. The Company also operates a chemical division which produces polypropylene, polyethylene, polystyrene, rubber, paint, ink, adhesives, and resins. TOTAL operates gasoline filling stations in Europe, the United States, and Africa.

<ul>
<li>TotalEnergies' robust hydrocarbon production in Q2 2024 will be offset by lower gas realizations and refining margins.</li>
<li>Higher utilisation rates are expected to partially mitigate reduced refining margins in Europe and the Middle East.</li>
<li>Seasonal factors are expected to lower the Integrated Power segment's adjusted net operating income by 18.2% QoQ to USD 500 million.</li>
</ul>


TotalEnergies' robust hydrocarbon production in Q2 2024 will be offset by lower gas realizations and refining margins.
Higher utilisation rates are expected to partially mitigate reduced refining margins in Europe and the Middle East.
Seasonal factors are expected to lower the Integrated Power segment's adjusted net operating income by 18.2% QoQ to USD 500 million.


TotalEnergies Hits Roadblock with Lower Gas Prices and Refining Margins

<ul>
<li>US crude oil inventories fell by 4.9 million barrels in the week ending 12/Jul, marking the third consecutive weekly decline.</li>
<li>As of 12/Jul, US natural gas inventories were up 8.4% YoY and 16.9% above the 5-year seasonal average.</li>
<li>UBS expects Chevron's Q2 earnings to fall short of expectations due to LNG project downtime and lower international refining margins.</li>
</ul>


US crude oil inventories fell by 4.9 million barrels in the week ending 12/Jul, marking the third consecutive weekly decline.
As of 12/Jul, US natural gas inventories were up 8.4% YoY and 16.9% above the 5-year seasonal average.
UBS expects Chevron's Q2 earnings to fall short of expectations due to LNG project downtime and lower international refining margins.


[ETP 29/2024] Oil Rebounds on Inventory Drop; Energy Majors' Targets Cut

Mint Finance
Deep Fundamental Analysis

Pickup in Gas Rigs Drive U.S. Oil & Gas Rig Count Higher

US oil and gas rig count rises for the second time in three weeks. Gas rigs increase by 3 while oil rigs drop by 1. Permian rig count remains flat...

Mint Finance

[CB 28/2024]: Volatile Week for Grains; Massive US Harvest Leads Bearish Sentiment

Bargain Hunters Circle Tumbling Wheat amid record American harvests and rising global demand, Corn & Soybeans Navigate Mixed Signals

Mint Finance

TSMC Shatters Q2 Expectations Bolstered by Strong AI Chip Demand

Amid booming demand for advanced chips, TSMC's stellar Q2 performance highlights its leadership in AI technology, despite ongoing supply challenges...

Mint Finance

TotalEnergies Hits Roadblock with Lower Gas Prices and Refining Margins

Lower gas realisations and refining margins to eat up gains from healthy hydrocarbon production in Q2. Revenue expected to rise YoY and QoQ, but...

Mint Finance

[ETP 29/2024] Oil Rebounds on Inventory Drop; Energy Majors' Targets Cut

US crude inventories fell for the third straight week, while gasoline and distillate stocks exceeded expectations. US & European gas storage above...

Mint Finance