Energy Expert

Thierry Bros, PhD

Thierrybros.com

Thematic (Sector/Industry)

<p><strong>In Saudi Arabia, the Saud family wants to launch an Initial Public Offering (IPO) for 5% of Saudi Aramco, the biggest worldwide oil company (10,1mb/d of oil produced in 2015) for more than $100bn while implementing the 0,5mb/d production cut agreed at the 30 November 2016 OPEC meeting. Could this opaque company be valued trillions of dollars as Saudi Arabia tells the Press? Maybe not!</strong></p><p>Or could after 39 years, <a href="https://www.smartkarma.com/entities/811" target="_blank" data-smartkarma-citation="entities:811:1">Exxon Mobil Corp (XOM US)</a>, via the IPO process, re-enter Saudi Aramco capital? Saudi…</p>

In Saudi Arabia, the Saud family wants to launch an Initial Public Offering (IPO) for 5% of Saudi Aramco, the biggest worldwide oil company (10,1mb/d of oil produced in 2015) for more than $100bn while implementing the 0,5mb/d production cut agreed at the 30 November 2016 OPEC meeting. Could this opaque company be valued trillions of dollars as Saudi Arabia tells the Press? Maybe not!Or could after 39 years, Exxon Mobil Corp (XOM US), via the IPO process, re-enter Saudi Aramco capital? Saudi…

EM PM, Ecstrat

Emad Mostaque

EM PM

Ecstrat

Ecstrat is a consultancy advising on asset allocation between global equity markets, with a focus on the intersection of governments, geopolitics, governance and markets.
 
Over the past few years and more especially since the Great Financial Crisis (GFC), investors have become more focused on short-term market movements and real-time returns and have consequently neglected the analysis of the underlying structural themes that underpin longer term performance.
​
More specifically we believe that the evolution of governance-based relationships between investors, controlling shareholders, labour and the state is one of the primary determinants of both relative and absolute performance between individual equity markets.
 
We will endeavour to provide investors with some of the context surrounding governance-related issues which encompass many different disciplines including history, economics and political science, as well as the financial metrics which are the most obvious manifestation of the structural characteristics of each market.
 
We will pay particular attention to the shifts and potential inflection points for governance in individual markets as these are often the best lead indicators for both economic and market performance.

<div>Oil prices have had a jittery week after the shock of the US elections leading to a dollar resurgence and abject confusion over the impact on the potential impending OPEC deal. </div><div>Short positions have steadily been building under the assumption a deal likely won't be done, or if it is done then it won't be enforceable and not take enough barrels off the market. </div><div>This had sparked a predictable series of leaks and a flurry of diplomatic activity from oil ministers and the OPEC Secretary General to try…</div>

Oil prices have had a jittery week after the shock of the US elections leading to a dollar resurgence and abject confusion over the impact on the potential impending OPEC deal. Short positions have steadily been building under the assumption a deal likely won't be done, or if it is done then it won't be enforceable and not take enough barrels off the market. This had sparked a predictable series of leaks and a flurry of diplomatic activity from oil ministers and the OPEC Secretary General to try…

SGX Market Strategist, Equity & Fixed Income, Singapore Exchange Ltd (SGX)

Geoff Howie

SGX Market Strategist, Equity & Fixed Income

Asia’s leading multi-asset exchange

Singapore Exchange Ltd (SGX)

Singapore Exchange is Asia’s leading and trusted market infrastructure, facilitating the exchange of capital and ideas to create value for people, businesses and economies. As a multi-asset exchange operating equity, fixed income and derivatives markets to the highest regulatory standards, SGX is a vertically integrated business that provides listing, trading, clearing, settlement, depository and data services.

With about 40% of listed companies and over 80% of listed bonds originating outside of Singapore as well as established linkages across the region and in Europe, SGX is Asia’s most international and connected exchange. Offering a full suite of derivatives products across Asian equity indices, commodities and currencies, SGX is the world’s most liquid international market for the benchmark equity indices of China, India, Japan and ASEAN.

As Asia’s pioneering central counterparty, SGX is globally recognised for its risk management and clearing capabilities, and was one of the first globally to adopt the Principles for Financial Market Infrastructure.

Headquartered in AAA-rated Singapore, SGX has over 800 employees including offices in Beijing, Chicago, Hong Kong, London, New York, Mumbai, San Francisco, Shanghai and Tokyo.

<ul><li><strong>Singapore’s Energy Sector was the strongest of Singapore’s stock Sectors in October, with a 10.4% market capitalisation weighted total return on oil and coal price swings. This followed on from Energy also being the strongest of the Sectors back in September.</strong></li><li><strong>The 10 largest capitalised stocks of Singapore’s Energy Sector averaged a 12.5% total return in October, consisting of seven advancing stocks and three declining stocks. CAO, the largest capitalised stock of Singapore’s Energy Sector is scheduled to report 3Q16 results Wednesday.</strong></li><li><strong>Two of the 10 largest capitalised Energy stocks, Geo Energy Resources and KrisEnergy also ranked amongst the 10 actively traded stocks that saw the biggest increase in their October traded volume, compared to respective three month average volumes. Geo Energy Resources was the fifth biggest volume leader while KrisEnergy was the sixth biggest volume leader.</strong></li></ul>

Singapore’s Energy Sector was the strongest of Singapore’s stock Sectors in October, with a 10.4% market capitalisation weighted total return on oil and coal price swings. This followed on from Energy also being the strongest of the Sectors back in September.The 10 largest capitalised stocks of Singapore’s Energy Sector averaged a 12.5% total return in October, consisting of seven advancing stocks and three declining stocks. CAO, the largest capitalised stock of Singapore’s Energy Sector is scheduled to report 3Q16 results Wednesday.Two of the 10 largest capitalised Energy stocks, Geo Energy Resources and KrisEnergy also ranked amongst the 10 actively traded stocks that saw the biggest increase in their October traded volume, compared to respective three month average volumes. Geo Energy Resources was the fifth biggest volume leader while KrisEnergy was the sixth biggest volume leader.

Energy the Strongest Sector in October on Oil & Coal Price Swings

Founder, Supreme Peoples Court Monitor

Susan Finder

Founder

Supreme Peoples Court Monitor

<p>One of the little noticed outcomes from the meeting between President Obama and President Xi Jinping was that the two countries commit to, starting as early as 2016, conduct regular and ad hoc communication and exchanges regarding the implementation of their respective bankruptcy laws through forums or mutual visits.</p><p>One of the latest examples of the implementation of bankruptcy law with Chinese characteristics is occurring in China's Jiangxi Province. According to the Chinese press, LDK Solar…</p>

One of the little noticed outcomes from the meeting between President Obama and President Xi Jinping was that the two countries commit to, starting as early as 2016, conduct regular and ad hoc communication and exchanges regarding the implementation of their respective bankruptcy laws through forums or mutual visits.One of the latest examples of the implementation of bankruptcy law with Chinese characteristics is occurring in China's Jiangxi Province. According to the Chinese press, LDK Solar…

LDK Solar--Test Case for Chinese Bankruptcy Law?

China Macroeconomics & Academia

Christopher Balding

Macroeconomics

<p>While it is built up on leverage which is built upon leverage which is built upon even more leverage, there is strong evidence that the real economy in China continues to stabilize and even expand.  Virtually all granular data collected in May 2016, supports the hypothesis that real output has not simply stabilized but grown. </p><p>This leads us to believe that current estimates of both official and unofficial PMI due to be released on June 1, underestimate the expected value.  Wind currently provides…</p>

While it is built up on leverage which is built upon leverage which is built upon even more leverage, there is strong evidence that the real economy in China continues to stabilize and even expand.  Virtually all granular data collected in May 2016, supports the hypothesis that real output has not simply stabilized but grown. This leads us to believe that current estimates of both official and unofficial PMI due to be released on June 1, underestimate the expected value.  Wind currently provides…

Early PMI Reading Before Official June 1 Release

China

Shanxi Meijin Energy Co., Ltd. produces coal and related products.

Shanxi Meijin Energy Co, Ltd. (000723 CH)

Pingdingshan Tianan Coal Mining Co., Ltd. operates underground coal mining, coal washing and processing. The company also provides ground transportation services.

Jizhong Energy Resources Co., Ltd. produces and markets coal products, generates electric power, and manufactures cement.

Wintime Energy  Co., Ltd. is in coal mining business.  The Company's main businesses are coal mining, investment in the power plant, developing new energy technology, trading business, and rental.

Datong Coal Industry Co., Ltd. operates underground mining, preparation and sales of coal.

Yangquan Coal Industry Group Co Ltd. produces, processes, and sells coal. The Company also generates electricity and heat. Yangquan Coal sells its products domestically and exports to other countries.

Gansu Jingyuan Coal Industry and Electricity Power Co., Ltd. explores, process and sells coal.

Gansu Jngyn Coal Inds & Elctr Pwr (000552 CH)

Oriental Energy Co., Ltd. manufactures, processes and distributes liquefied petroleum gas (LPG).  The Company produces LPG using oilfield associated gases, mainly including propane and butane. Zhangjiagang's products are mainly used as industrial gas, as well as chemical raw materials.

Shanxi Lanhua Sci-Tech Venture Co., Ltd. produces and markets coal and fertilizers.

Anhui Hengyuan Coal Industry and Electricity Power Co., Ltd. operates in coal mining and processing.

Golar LNG Limited is an independent owner and operator of liquefied Natural Gas (LNG) infrastructure including carriers, Floating Storage and Regasification Units (FSRUs) and Floating Liquefaction (FLNG) vessels.  Collectively these assets make Golar an integrated midstream LNG services provider supporting resource holders, gas producers and consumers.

New Hope Corporation Limited is a thermal coal production company based in Australia. The Company also has interests in logistics and infrastructure operations in Australia as well.

Kosmos Energy Ltd. provides oil and gas exploration and production services. The Company focuses on discovering new petroleum systems and to grow and mature discovered hydrocarbon basins, as well as development and production projects. Kosmos Energy serves customers worldwide.

Peabody Energy Corporation mines and markets low sulfur coal, primarily for use by electric utilities. The Company also trades coal and emission allowances. Peabody owns and operates mines in Arizona, Colorado, New Mexico and Wyoming, Illinois, Indiana, and Australia.

Petronas Dagangan Berhad markets petroleum products and operates service stations domestically. Through its subsidiaries, the Company has operations in aviation fueling at Kuala Lumpur International Airport and bunkering facilities at West Port along with marketing and distributing lubricants.

Thai Oil Public Company Limited is an oil refinery company. The Company imports crude oil and refines it into gasoline.  It also produces oil related products including liquefied petroleum gas (LPG), kerosene, fuel oil and chemicals. Thai oil supplies its products to domestic market where its major customers include Shell, Caltex Oil and the Petroleum Authority of Thailand.

Gulfport Energy Corporation operates as an energy exploration and production company. The Company focuses on oil and natural gas exploration and production services. Gulfport Energy serves clients in the United States.

PT Golden Energy Mines Tbk, (GEMS) operates as a holding company. Through its  s ubsidiaries, the Company mines for coal. GEMS' supplies paper mills and export energy markets including China, India, Thailand, Vietnam, and Bangladesh.

GS Holdings is a holding company, which operates subsidiaries including GS Caltex Oil, GS Power, GS Home Shopping, GS Retail, and GS Sports.

Motor Oil (Hellas) Corinth Refineries S.A. refines crude oil.  The Company  produces and offers petroleum products and lubricants. Motor Oil produces the entire range of refinery products, from light ends and gasoline to middle distillates, fuel, bitumen and lubricants.

SDIC Xinji Energy Company Ltd. is involved in coal mining, coal processing, and power generation.

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Sdic Xinji Energy Co A (601918 CH)

Saudi Aramco Value: $tn? Maybe Not!

In Saudi Arabia, the Saud family wants to launch an Initial Public Offering (IPO) for 5% of Saudi Aramco, the biggest worldwide oil company...

Thierry Bros, PhD

Playing the OPEC Deal

Oil prices have had a jittery week after the shock of the US elections leading to a dollar resurgence and abject confusion over the impact on the...

Emad Mostaque

Energy the Strongest Sector in October on Oil & Coal Price Swings

Singapore’s Energy Sector was the strongest of Singapore’s stock Sectors in October, with a 10.4% market capitalisation weighted total return on...

Singapore Exchange Ltd (SGX)

LDK Solar--Test Case for Chinese Bankruptcy Law?

One of the little noticed outcomes from the meeting between President Obama and President Xi Jinping was that the two countries commit to, starting...

Susan Finder

Early PMI Reading Before Official June 1 Release

While it is built up on leverage which is built upon leverage which is built upon even more leverage, there is strong evidence that the real...

Christopher Balding

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