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.

Commodities

<ul>
<li>For the week ending 06/Dec, US crude inventories fell by 1.4m barrels, beating expectations of a 1m barrel decrease. However, gasoline and distillate stocks rose more than expected again.</li>
<li>US natural gas inventories fell by 190 Bcf for the week ending 06/Dec, beating analyst expectations of a 175 Bcf drawdown. Inventories are 4.6% above the 5-year seasonal average.</li>
<li>Wells Fargo raised its 12-month PT for Chevron but lowered targets for Shell and Occidental. Exxon targets a CAGR of 10% in earnings and 8% in cash flow through 2030.</li>
</ul>


For the week ending 06/Dec, US crude inventories fell by 1.4m barrels, beating expectations of a 1m barrel decrease. However, gasoline and distillate stocks rose more than expected again.
US natural gas inventories fell by 190 Bcf for the week ending 06/Dec, beating analyst expectations of a 175 Bcf drawdown. Inventories are 4.6% above the 5-year seasonal average.
Wells Fargo raised its 12-month PT for Chevron but lowered targets for Shell and Occidental. Exxon targets a CAGR of 10% in earnings and 8% in cash flow through 2030.


[ETP 2024/50] WTI Rebounds on Outlook of Better Demand in 2025; Henry Hub Rises but Remains Volatile

<ul>
<li>For the week ending 29/Nov, US crude inventories fell by 5.1m barrels, beating expectations of a 1.6m barrel decrease. However, gasoline and distillate stocks rose more than expected.</li>
<li>US natural gas inventories fell by 30 Bcf for the week ending 29/Nov. Inventories are 7.8% above the 5-year seasonal average.</li>
<li>UBS raised its 12-month price target on Chevron. Shell and Equinor plan to merge their UK offshore oil and gas assets to create a new company.</li>
</ul>


For the week ending 29/Nov, US crude inventories fell by 5.1m barrels, beating expectations of a 1.6m barrel decrease. However, gasoline and distillate stocks rose more than expected.
US natural gas inventories fell by 30 Bcf for the week ending 29/Nov. Inventories are 7.8% above the 5-year seasonal average.
UBS raised its 12-month price target on Chevron. Shell and Equinor plan to merge their UK offshore oil and gas assets to create a new company.


[ETP 2024/49] WTI Recovers on OPEC Extending Cuts; Henry Hub Drops on Volatile Weather Forecasts

Independent Investment Research, The IDEA!

The IDEA!

Independent Investment Research

The Idea-Driven Equities Analyses company (the IDEA!) is an employee-owned boutique providing independent investment research and financial consultancy services with a clear focus on the Benelux countries. The company was founded in the summer of 2007 by Henk Slotboom and Maarten Verbeek, both with more than 35 years of professional experience in the financial sector. The IDEA! differentiates itself by focusing on adding value through self-initiated in-depth, idea-driven investment research, as well as by bespoke research assignments for institutional investors, hedge funds and private equity. In addition, we provide market intelligence, strategic research and – together with our business partners – consultancy services to businesses. In case you are interested in receiving more information, a sample of our products or an introductory meeting, please send a message to info@theidea.nl.

Equity Bottom-Up

<ul><li>In this edition: • Ahold Delhaize | regulatory approval for Profi Rom acquisition • Shell | no new offshore wind projects • InPost/PostNL/bpostgroup | EC plans to address problems with Chinese parcels • Black Friday update | again a new all-time high in daily volumes for PostNL</li></ul>

In this edition: • Ahold Delhaize | regulatory approval for Profi Rom acquisition • Shell | no new offshore wind projects • InPost/PostNL/bpostgroup | EC plans to address problems with Chinese parcels • Black Friday update | again a new all-time high in daily volumes for PostNL

What's News in Amsterdam - 5 December (Ahold Delhaize | Shell | InPost/PostNL/bpostgroup | Black Friday update)

<ul>
<li>For the week ending 15/Nov, US crude inventories rose by 0.5m barrels, exceeding expectations of a 0.4m barrel increase. Gasoline stocks exceeded estimates, while distillates declined less than expected.</li>
<li>US natural gas inventories fell by 3 Bcf for the week ending 15/Nov, contrasting analyst expectations of a 2 Bcf buildup. Inventories are 6.4% above the 5-year seasonal average.</li>
<li>TD Cowen raised its PT on Exxon, while Morgan Stanely lowered its PT on Halliburton. Aramco and Sinopec began the construction of a refining and petrochemical complex in China.</li>
</ul>


For the week ending 15/Nov, US crude inventories rose by 0.5m barrels, exceeding expectations of a 0.4m barrel increase. Gasoline stocks exceeded estimates, while distillates declined less than expected.
US natural gas inventories fell by 3 Bcf for the week ending 15/Nov, contrasting analyst expectations of a 2 Bcf buildup. Inventories are 6.4% above the 5-year seasonal average.
TD Cowen raised its PT on Exxon, while Morgan Stanely lowered its PT on Halliburton. Aramco and Sinopec began the construction of a refining and petrochemical complex in China.


[ETP 2024/47] WTI Rises on Ukraine-Russia Tensions; Henry Hub Jumps on Cold Weather Forecasts

<ul>
<li>For the week ending 08/Nov, US crude inventories rose by 2.1m barrels, surpassing expectations of a 0.4m barrel increase. Meanwhile, gasoline and distillate stocks unexpectedly declined.</li>
<li>US natural gas inventories rose 42 Bcf for the week ending 08/Nov, exceeding analyst expectations of a 34 Bcf buildup. Inventories are 6.1% above the 5-year seasonal average.</li>
<li>Occidental beat revenue and EPS estimates by 0.7% and 34.8%, respectively led by higher hydrocarbon output. Analysts upgraded their 12-month PTs on Occidental, Chevron, Exxon, and Halliburton.</li>
</ul>


For the week ending 08/Nov, US crude inventories rose by 2.1m barrels, surpassing expectations of a 0.4m barrel increase. Meanwhile, gasoline and distillate stocks unexpectedly declined.
US natural gas inventories rose 42 Bcf for the week ending 08/Nov, exceeding analyst expectations of a 34 Bcf buildup. Inventories are 6.1% above the 5-year seasonal average.
Occidental beat revenue and EPS estimates by 0.7% and 34.8%, respectively led by higher hydrocarbon output. Analysts upgraded their 12-month PTs on Occidental, Chevron, Exxon, and Halliburton.


[ETP 2024/46] WTI Drops on Strong Dollar, Henry Hub Gains on Lower Output and Better Demand Outlook

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)

[ETP 2024/50] WTI Rebounds on Outlook of Better Demand in 2025; Henry Hub Rises but Remains Volatile

US crude inventories fell more than expected, but gasoline and distillate stocks rose. Natural gas inventories beat expectations. Wells Fargo...

Mint Finance

[ETP 2024/49] WTI Recovers on OPEC Extending Cuts; Henry Hub Drops on Volatile Weather Forecasts

US crude inventories fell more than expected, while gasoline and distillate stocks rose. Natural gas inventories also fell, UBS raised Chevron's...

Mint Finance

What's News in Amsterdam - 5 December (Ahold Delhaize | Shell | InPost/PostNL/bpostgroup | Black Friday update)

In this edition: • Ahold Delhaize | regulatory approval for Profi Rom acquisition • Shell | no new offshore wind...

The IDEA!

[ETP 2024/47] WTI Rises on Ukraine-Russia Tensions; Henry Hub Jumps on Cold Weather Forecasts

US crude and gasoline inventories increased more than expected. Exxon's PT increased while Halliburton's was lowered. Aramco and Sinopec started...

Mint Finance

[ETP 2024/46] WTI Drops on Strong Dollar, Henry Hub Gains on Lower Output and Better Demand Outlook

US crude inventories rose more than expected, while gasoline and distillate stocks fell; nat-gas stocks also exceeded analyst expectations....

Mint Finance

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

[ETP 2024/50] WTI Rebounds on Outlook of Better Demand in 2025; Henry Hub Rises but Remains Volatile

​US crude inventories fell more than expected, but gasoline and distillate stocks rose. Natural gas inventories beat expectations. Wells Fargo...

Mint Finance

[ETP 2024/49] WTI Recovers on OPEC Extending Cuts; Henry Hub Drops on Volatile Weather Forecasts

​US crude inventories fell more than expected, while gasoline and distillate stocks rose. Natural gas inventories also fell, UBS raised Chevron's...

Mint Finance

What's News in Amsterdam - 5 December (Ahold Delhaize | Shell | InPost/PostNL/bpostgroup | Black Friday update)

In this edition: • Ahold Delhaize | regulatory approval for Profi Rom acquisition • Shell | no new offshore wind...

The IDEA!

[ETP 2024/47] WTI Rises on Ukraine-Russia Tensions; Henry Hub Jumps on Cold Weather Forecasts

​US crude and gasoline inventories increased more than expected. Exxon's PT increased while Halliburton's was lowered. Aramco and Sinopec started...

Mint Finance

[ETP 2024/46] WTI Drops on Strong Dollar, Henry Hub Gains on Lower Output and Better Demand Outlook

​US crude inventories rose more than expected, while gasoline and distillate stocks fell; nat-gas stocks also exceeded analyst expectations....

Mint Finance

US crude inventories fell more than expected, but gasoline and distillate stocks rose. Natural gas inventories beat expectations. Wells Fargo...

US crude inventories fell more than expected, while gasoline and distillate stocks rose. Natural gas inventories also fell, UBS raised Chevron's...

US crude and gasoline inventories increased more than expected. Exxon's PT increased while Halliburton's was lowered. Aramco and Sinopec started...

US crude inventories rose more than expected, while gasoline and distillate stocks fell; nat-gas stocks also exceeded analyst expectations....