GAS EXPORTER
Largecaps offering reasonable value and potential earning surprises over next 6 to 12 months: Krishna Sanghavi
Consumption sectors like FMCG and discretionary items are also important because as India prospers, the nominal economy grows, per capita income increases, and consumption rises. The journey will have ups and downs due to valuation fluctuations across multiple sectors.
Oil little changed as investors eye impact of storm Beryl on Texas
Oil prices held steady with Texas ports closed for Tropical Storm Beryl, a potential Category 2 hurricane. Brent at $86.65, WTI at $83.08. Analyst Tony Sycamore cited power outages, inventory draws, and rate cut hopes from easing inflation. Energy Information Administration data showed weekly draws, with unchanged Baker Hughes rigs. Key ports Corpus Christi and Houston closed.
Biden’s deleted post on X goes viral; here is what he said
President Joe Biden’s official account on X tweeted about a court’s ruling on LNG exports. He expressed his disappointment with the Supreme Court for a verdict which it never gave.
Turkmenistan and Iran sign deal to supply gas to Iraq. Iran will build pipeline to aid delivery
Turkmenistan and Iran signed a contract for the annual delivery of 10 billion cubic meters of Turkmen gas, which Iran will then transport to Iraq. Iranian companies will build a 125-kilometer pipeline to increase Turkmenistan's delivery capacity, with plans to boost gas supplies to Iran to 40 billion cubic meters a year. This deal aims to mitigate last year's disruptions in Iraq's gas supply from Iran. Turkmenistan, reliant on gas export revenue, also supplies China and plans a pipeline for Afghanistan, Pakistan, and India.
EU slaps fresh curbs on Russia gas shipments
The new restrictions on gas aim to reduce Russia's revenues from liquefied natural gas (LNG) exports by banning trans-shipments off EU ports and a clause allowing Sweden and Finland to cancel some LNG contracts. The measures stop short of an EU ban on LNG imports, which have risen since the start of the war.
India's downstream oil and gas profits to fall; upstream to remain strong: Fitch Ratings
India's oil and gas sector is forecasted to have mixed fiscal performance in FY24, with downstream profits expected to decline while upstream growth remains robust, driven by a 3-4% increase in petroleum product demand for FY25. Diesel and petrol will dominate consumption, with anticipated stable marketing margins for oil marketing companies. Upstream companies will continue high capex for production growth, while crude oil import dependency is projected to increase despite rising domestic production.
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EU sanctions target Russian gas for the first time, diplomats say
The European Union has agreed on a new sanctions package against Russia, marking its first restrictions on Russian gas since the war in Ukraine began. This 14th package bans the re-export of Russian liquefied natural gas (LNG) within EU waters, although imports continue. While intended to curb Russia's revenue and access to technologies, experts suggest limited impact on overall Russian LNG exports.
Tesla vs Tata Motors: Elon Musk's $56 billion salary more than TaMo revenue
Musk's compensation package not only outstrips TaMo but also surpasses the total revenues of other prominent Indian entities, including HPCL, SBI, Rajesh Exports, and TCS
Wait for DEE Development's financial show post listing for stock exposure
The company had outstanding orders of ₹828 crore as of December 2023, up 47% from FY23, driven by a strategic shift towards the oil and gas sector and pricing advantages over rivals. This resulted in a bid-to-win ratio of 46-81% over the last four years.
Russia boosts oil revenues as shipping and trading network grows
Russian oil exporters are selling oil to India at higher prices than at any time since the start of the Ukraine war, as more shippers and traders participate in the trade, weakening the impact of Western sanctions. The exporters have had to offer deep discounts to encourage shipping companies to move their crude since the invasion of Ukraine. Despite this, deals struck this month for Urals oil delivery to Indian refiners are at discounts of $3 to $3.50 per barrel to the global Brent crude benchmark, the narrowest since 2023.
What will happen when the Ukraine gas transit deal expires?
Ukraine has announced it will not extend a five-year deal with Russia's Gazprom for the transit of Russian gas to Europe when it expires at the end of the year. The Ukraine gas transit route, agreed upon by Moscow and Kyiv in 2019, enables Russia to export gas to Europe via Ukraine. Russian gas transit via Ukraine to Europe fell by 28.5% to 14.65 billion cubic meters last year, from 20.5 bcm in 2022. The system connects Poland, Slovakia, Hungary, Romania, and Moldova.
These 5 energy stocks can give more than 18% returns in one year
Check out Stock Reports Plus, powered by Refinitiv, for price targets of over 4,000 listed stocks along with detailed company analysis focusing on five key components - earnings, fundamentals, relative valuation, risk and price momentum to generate standardized scores. SR+ Reports is a complimentary offering to ETPrime members.
Fresh tailwinds of export markets: 5 stocks from engineering sector, 4 with upside potential of up to 30%
They say that tough times bring the best out of some. In case of India Inc, there are many examples where the economic slowdown post 2008 global financial crisis, made companies deal with all kinds of troubles and after various permutations and combinations they were able to find solutions, first to survive and then grow. In the case of engineering companies where the role overlapped to some extent with capital goods, it was the export market which turned out to be the solution. Because it is not easy to venture into the export market as there are large global players who ensure that it is not easy to get into their turf. For some companies it was a long drawn process which is now delivering results and leading to a situation where the return on capital and effort employed is much better today.
Oil slips on dollar's strength from US jobs data
Oil prices slipped on Monday due to a stronger dollar and delayed interest rate cuts following strong U.S. jobs data. Developments in Iraq, including progress in oil export talks with the Kurdistan region, impacted market sentiment.
Bad taste for ‘aam aadmi’: How adulterated mangoes pose fresh headache for regulators, consumers
The use of banned chemicals to ripen fruits is prevalent despite penalties and laws. The ball is in the food safety regulator’s court.
How a small crack in a pipeline gave a big jolt to Europe’s gas market
Repair efforts are ongoing for a pipeline on a Norwegian gas platform, highlighting the potential for even minor outages to impact European prices. The Sleipner platform, crucial to Europe’s gas network, faces repairs for a small pipeline crack. The incident underscores Norway’s significant role in European energy security.
Is Joe Biden unwell? Can he continue in office?
Many individuals who have interacted with President Joe Biden have warned of his declining cognitive abilities. He will contest the 2024 Presidential Elections in November for a second term in office.
Oil falls more than $1 on worries of supply rising later in 2024
Oil prices fell more than $1 on Tuesday, extending losses from a four-month low in the previous session, as investors worried about supply rising later in the year amid signs of weakening U.S. demand.
Oil prices extend losses on worries of supply rising later in 2024
Oil prices fell with Brent crude at $78.16 and U.S. West Texas Intermediate at $74.05. OPEC+ extended output cuts into 2025. GasBuddy data indicated a decline in U.S. gasoline prices.
Saudi Arabia may announce landmark Aramco share sale today: Report
Saudi Arabia may announce a landmark secondary share offering in oil giant Aramco later on Thursday, pending final approval from Crown Prince Mohammed bin Salman, people with knowledge of the matter said.
Believe it or not: Even in Saudi Arabia, renewable power is cheaper than fossil fuels
Saudi Arabia has signed deals to purchase electricity from two large-scale wind farms at record-low prices, cheaper than natural gas plants. The kingdom aims to shift rapidly to a larger share of renewables in the power grid, with the goal of generating half of its power from clean sources by 2030. The projects, developed by Japan's Marubeni Corp, benefit from state backing and favorable wind conditions in the country, making them more cost-effective than fossil fuel alternatives. The country's move towards renewable energy is part of Crown Prince Mohammed Bin Salman's efforts to diversify the economy away from oil dependence.
Russia plans to open sea terminal for LPG exports to Asia by 2025-end, sources say
Russia and China are set to open the first LPG terminal on Russia's Pacific coast by the end of 2025, facilitating LPG exports to China and other Asian countries.
Get your portfolio ready for election results: Hedge the re-rated oil and gas sector stocks
Right from power, railways, PSU banks, sectoral lenders to oil and gas there are many sectors which have made a comeback in the last 10 years. Comeback both in the real business sense, where the operating matrix and fundamentals of the sector have improved which has led to better performance. Also a comeback on valuation front, where the stocks which were quoting at a price earning multiple of single have been now consistently quoting in high double multiples. A number of them have seen this transformation due to a stable policy environment, policy push and policy cleanup which the government has undertaken in the last ten years. The consensus estimate of the street is that policy continuity is the most critical thing for the re-rating to continue. In this new series, we take a different sector and how much they are dependent on government policy and how investors can protect their portfolio from any sudden decline.
OPEC switches to 'call on OPEC+' in global oil demand outlook, sources say
OPEC will stop publishing a calculation of the world's demand for its own crude in its monthly oil report, two sources close to the matter said, focusing instead on forecasts for demand for oil from the wider OPEC+ group.
Australia unveils plans to keep burning gas beyond 2050
Australia plans to continue using natural gas beyond 2050 while aiming for net zero emissions. The strategy faces criticism from environmental groups, citing it as a 'climate disaster' and 'fossil fuel disaster' impacting the environment negatively.
Diesel, petrol export revenues dip 20% to $33 bn in 2023-24
India's exports of diesel and petrol fell by a fifth year-on-year to $33 billion in 2023-24 due to declining international prices. Diesel generated the largest share of export revenues for Indian refiners, accounting for $22 billion of the $48 billion earned by exports of refined fuels. The war in Ukraine and Western sanctions on Russia caused fuel prices to rise, boosting export earnings for Indian refiners.
Natural gas should come under GST regime, says GAIL chairman Sandeep Kumar Gupta
GAIL chairman Sandeep Kumar Gupta said the government should mandate the use of natural gas in refineries and steel making, and make emissions a factor in the merit order for electricity despatch to help gas-based power compete with coal-based supply. He also said natural gas should come under the goods and services tax (GST) regime, production-linked incentive (PLI) should be extended to LNG-powered vehicles and GST on CNG-powered vehicles should be slashed to 5% from 28%, on a par with electric vehicles (EVs).
LNG importers rush to buy spot cargoes as price hits 3-year low
LNG importers Gail, Gujarat State Petroleum Corporation (GSPC), Torrent Gas, Bharat Petroleum Corp (BPCL) and Indian Oil Corp (IOC), among others, are buying spot cargoes as the Asia spot LNG price has fallen between $8.3 and $9 per million British thermal units (mmBtu) due to weak demand and high inventory in both Asia and Europe, giving these companies room to expand sourcing and sales to the power, fertiliser, refining and other sectors.
Qatar to build new LNG project
Amid increasing demand and a halt on growth projects in the US, Qatar intends to enhance its exports of liquefied natural gas. The nation, a major competitor to the US and Australia in LNG shipping, aims to construct a new project capable of producing 16 million tons annually by the end of this decade. This initiative will elevate Qatar's annual production capacity to 142 million tons by 2030, as announced by the country's Energy Minister, Saad Al-Kaabi, on Sunday.
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