Oil and Gas, Mint Finance

Suhas Reddy

Oil and Gas

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.

Equity Bottom-Up

<ul>
<li>Shell forecasts a decline in upstream production, gas price realisations, and refining margins. Its QoQ Revenue &amp; EPS are expected to drop 4.3% and 21.7%, respectively.</li>
<li>Shell anticipates Q2 post-tax impairments of USD 1.5 to USD 2 billion due to halting a biofuels plant in Rotterdam and divesting its Singapore refinery.</li>
<li>On a brighter note, Shell anticipates higher chemical margins, increased marketing sales volume, and improved refinery utilisation rates in Q2.</li>
</ul>


Shell forecasts a decline in upstream production, gas price realisations, and refining margins. Its QoQ Revenue &amp; EPS are expected to drop 4.3% and 21.7%, respectively.
Shell anticipates Q2 post-tax impairments of USD 1.5 to USD 2 billion due to halting a biofuels plant in Rotterdam and divesting its Singapore refinery.
On a brighter note, Shell anticipates higher chemical margins, increased marketing sales volume, and improved refinery utilisation rates in Q2.


[Earnings Preview] Bleeding Refining Margins & Lower Gas Prices to Eat into Shell’s Earnings

Product Marketing Manager, Criat

Raghav Chandra Mathur

Product Marketing Manager

Next-Generation Credit Analytics Provider

Criat

Criat specializes in new-generation data-driven credit analytics. Leveraging our industry-leading DeepCredit analytical technologies, we produce daily-updated forward-looking credit assessment and valuation to help financial institutions stay ahead of risks. Coupled with use-case-driven applications, we extract insights, answer questions and enable smarter credit decisions.

Thematic (Sector/Industry)

<ul>
<li>Oil spot prices have gained at a relatively stable pace since the start of 2024, with crude prices rising close to 19% year to date.</li>
<li>Robust demand due to recovery in economic activity across major markets has been a steady tailwind to oil prices despite the prevalent geo-political catalysts that have spurred across global markets.</li>
<li>Globally listed oil and gas producers and service providers have therefore seen a marginal improvement in their aggregate credit risk profiles, with their Criat Credit Cycle Index (CCCI) dropping by close to 2bps over the same period.</li>
</ul>


Oil spot prices have gained at a relatively stable pace since the start of 2024, with crude prices rising close to 19% year to date.
Robust demand due to recovery in economic activity across major markets has been a steady tailwind to oil prices despite the prevalent geo-political catalysts that have spurred across global markets.
Globally listed oil and gas producers and service providers have therefore seen a marginal improvement in their aggregate credit risk profiles, with their Criat Credit Cycle Index (CCCI) dropping by close to 2bps over the same period.


Global O&G Firms' Credit Quality Improves on Tighter Oil Markets

Commodities

<ul>
<li>For the week ending 20/Dec, U.S. crude inventories fell by 4.2m barrels, beating expectations of a 0.7m barrel decrease. Distillate stocks fell more than expected, while gasoline inventories unexpectedly rose.</li>
<li>U.S. natural gas inventories fell by 93 Bcf for the week ending 20/Dec, missing analyst expectations of a 98 Bcf drawdown. Inventories are 4.9% above the 5-year seasonal average.</li>
<li>Chevron signed a 20-year deal with Energy Transfer for 2 million tonnes of LNG annually. Stifel lowered Schlumberger's 12-month price target while maintaining a Buy rating.</li>
</ul>


For the week ending 20/Dec, U.S. crude inventories fell by 4.2m barrels, beating expectations of a 0.7m barrel decrease. Distillate stocks fell more than expected, while gasoline inventories unexpectedly rose.
U.S. natural gas inventories fell by 93 Bcf for the week ending 20/Dec, missing analyst expectations of a 98 Bcf drawdown. Inventories are 4.9% above the 5-year seasonal average.
Chevron signed a 20-year deal with Energy Transfer for 2 million tonnes of LNG annually. Stifel lowered Schlumberger's 12-month price target while maintaining a Buy rating.


[ETP 2024/52] WTI Recovers on China’s Stimulus Plans, Henry Hub Falls on Volatile Weather Forecasts

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

<ul>
<li>Global oil demand growth is slowing, with projections to reach 103.8 mb/d in 2025. OPEC+ is delaying production increases amid weaker demand &amp; rising competition from non-OPEC producers like U.S.</li>
<li>Geopolitical instability, a renewable energy shift, and challenges like China's slowdown and high global interest rates are reshaping oil market dynamics, affecting prices and economic strategies.</li>
<li>OPEC's influence is waning as non-OPEC players expand and renewable energy adoption grows. The oil market's evolution highlights the urgent need for diversification in energy strategies.</li>
</ul>


Global oil demand growth is slowing, with projections to reach 103.8 mb/d in 2025. OPEC+ is delaying production increases amid weaker demand &amp; rising competition from non-OPEC producers like U.S.
Geopolitical instability, a renewable energy shift, and challenges like China's slowdown and high global interest rates are reshaping oil market dynamics, affecting prices and economic strategies.
OPEC's influence is waning as non-OPEC players expand and renewable energy adoption grows. The oil market's evolution highlights the urgent need for diversification in energy strategies.


Global Oil Market 2025: US, OPEC+ and Much More..

<ul>
<li>For the week ending 13/Dec, US crude inventories fell by 0.9m barrels, missing forecasts. Gasoline stocks rose more than anticipated, while distillate inventories declined more than expected.</li>
<li>US natural gas inventories fell by 125 Bcf for the week ending 13/Dec, beating analyst expectations of a 123 Bcf drawdown. Inventories are 3.8% above the 5-year seasonal average.</li>
<li>Major analysts lowered their 12-month PTs on Exxon, SLB, Halliburton, and Occidental. Also, Barclays downgraded its rating on Halliburton to Equalweight from Overweight.</li>
</ul>


For the week ending 13/Dec, US crude inventories fell by 0.9m barrels, missing forecasts. Gasoline stocks rose more than anticipated, while distillate inventories declined more than expected.
US natural gas inventories fell by 125 Bcf for the week ending 13/Dec, beating analyst expectations of a 123 Bcf drawdown. Inventories are 3.8% above the 5-year seasonal average.
Major analysts lowered their 12-month PTs on Exxon, SLB, Halliburton, and Occidental. Also, Barclays downgraded its rating on Halliburton to Equalweight from Overweight.


[ETP 2024/51] Fed’s Hawkish Tone Drags WTI Prices, Henry Hub Soars on Rising LNG Exports

United Kingdom

Shell PLC explores and refines petroleum products. The Company produces fuels, chemicals, and lubricants. Shell serves clients worldwide.

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Shell PLC (SHEL LN)

[Earnings Preview] Bleeding Refining Margins & Lower Gas Prices to Eat into Shell’s Earnings

Shell faces lower refining margins, production, and gas prices, plus a USD 1.5-2 billion impairment. However, higher chemical margins and marketing...

Mint Finance

Global O&G Firms' Credit Quality Improves on Tighter Oil Markets

Oil spot prices have gained at a relatively stable pace since the start of 2024, with crude prices rising close to 19% year to date. Robust demand...

Criat

[ETP 2024/52] WTI Recovers on China’s Stimulus Plans, Henry Hub Falls on Volatile Weather Forecasts

US crude inventories beat expectations, while nat-gas inventories missed analyst expectations. Chevron signed a 20-year LNG deal with Energy...

Mint Finance

Global Oil Market 2025: US, OPEC+ and Much More..

Global oil demand growth is slowing, reshaping market dynamics as OPEC's influence wanes and renewable energy adoption grows, highlighting the...

Nimish Maheshwari

[ETP 2024/51] Fed’s Hawkish Tone Drags WTI Prices, Henry Hub Soars on Rising LNG Exports

US crude inventories fell, but gasoline stocks rose and natural gas inventories beat expectations. Major analysts lowered PTs on Exxon, SLB,...

Mint Finance

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

[Earnings Preview] Bleeding Refining Margins & Lower Gas Prices to Eat into Shell’s Earnings

Shell faces lower refining margins, production, and gas prices, plus a USD 1.5-2 billion impairment. However, higher chemical margins and marketing...

Mint Finance

Global O&G Firms' Credit Quality Improves on Tighter Oil Markets

Oil spot prices have gained at a relatively stable pace since the start of 2024, with crude prices rising close to 19% year to date. Robust demand...

Criat

[ETP 2024/52] WTI Recovers on China’s Stimulus Plans, Henry Hub Falls on Volatile Weather Forecasts

​US crude inventories beat expectations, while nat-gas inventories missed analyst expectations. Chevron signed a 20-year LNG deal with Energy...

Mint Finance

Global Oil Market 2025: US, OPEC+ and Much More..

​Global oil demand growth is slowing, reshaping market dynamics as OPEC's influence wanes and renewable energy adoption grows, highlighting the...

Nimish Maheshwari

[ETP 2024/51] Fed’s Hawkish Tone Drags WTI Prices, Henry Hub Soars on Rising LNG Exports

​US crude inventories fell, but gasoline stocks rose and natural gas inventories beat expectations. Major analysts lowered PTs on Exxon, SLB,...

Mint Finance

US crude inventories beat expectations, while nat-gas inventories missed analyst expectations. Chevron signed a 20-year LNG deal with Energy...

Global oil demand growth is slowing, reshaping market dynamics as OPEC's influence wanes and renewable energy adoption grows, highlighting the...

US crude inventories fell, but gasoline stocks rose and natural gas inventories beat expectations. Major analysts lowered PTs on Exxon, SLB,...