Economy

Warren Buffett adds Energy Stocks to Portfolio as Recovery Presents Opportunity

Warren Buffett adds Energy Stocks to Portfolio as Recovery Presents Opportunity

Warren Buffett has built his nearly half-a-trillion-dollar Berkshire Hathaway (NYSE: BRK.A)(N…

July 13, 2020 - 12:41 pm Capital Markets, Economy, Press Releases
OPEC, allies set to ease oil cuts, seeing pandemic recovery – Fox Business Video

OPEC, allies set to ease oil cuts, seeing pandemic recovery – Fox Business Video

Fox Business


Oil & Gas Publishers Note: Key Point: “If OPEC clings to restraining production to keep up prices, I think it’s suicidal,” said a person familiar with the Saudis’s thinking. “There’s going to be a scramble for market share,

Mammoth Heat Wave Lasting “Weeks” Will Cause Painful Spike In Utility Bills For Poor Americans

Mammoth Heat Wave Lasting “Weeks” Will Cause Painful Spike In Utility Bills For Poor Americans

Forbes


Oil & Gas 360 Publishers Note: Nice article by Scott Carpenter, Forbes, about the rising costs of electricity to the lower income group of Americans. What many people do not realize is that the additional cost burden for solar

Source: Reuters

‘Disaster’ U.S. earnings loom, but investors try and look beyond

Reuters


NEW YORK – U.S. companies are preparing to open their books on a quarter that is set to show the biggest earnings fall since the financial crisis, leaving investors looking for light at the end of the tunnel.

The …

July 9, 2020 - 2:00 pm Closing Bell Story‎, Earnings, Economy, Finance
Record debts come due for Canadian oil patch after five years of crisis

Record debts come due for Canadian oil patch after five years of crisis

BOE Report


Six years ago, Canadian oilfield services firm Calfrac Well Services commanded a C$2.1 billion ($1.55 billion)market value and was poised for U.S. expansion.

But by last month, Calfrac’s market value had collapsed to just C$23 million and it …

Source: CNBC

Oil prices rise on drop in U.S. unemployment, crude stockpiles

CNBC


Oil prices rose on Thursday after data showed a fall in U.S. unemployment and a sharp drop in crude stockpiles, although concerns that a spike in U.S. coronavirus infections could stall a recovery in fuel demand kept gains in …

Source: CNBC

Federal Reserve releases minutes for June meeting

CNBC


The Federal Reserve on Wednesday released the minutes from its June 9-10 meeting, during which it held interest rates steady and had an in-depth discussion about capping bond yields and strengthening its guidance about where policy will be set …

July 1, 2020 - 2:00 pm Closing Bell Story‎, Economy, Finance, Regulatory
Saudi Aramco CEO Amin Nasser said that "the worst is behind us" for oil markets, in a recorded interview at CERAWeek.

Saudi Aramco CEO says the ‘worst is behind us’ for oil markets

Oil & Gas


Amin Nasser is optimistic about the second half of the year, and credited IKTVA and previous attacks on Aramco helped it build resilience before the pandemic

Saudi Aramco CEO Amin Nasser said that “the worst is behind …

Stay-at-home orders led to less commercial and industrial electricity use in April

Stay-at-home orders led to less commercial and industrial electricity use in April

EIA


Oil & Gas Publisher’s Note: This information from the EIA is not a trivial impact to the price of oil and natural gas. This is only one of the pricing and impacts that we had discussed 3 months ago

The 360 Digital Closing Bell Look Ahead– 6-29-2020

The 360 Digital Closing Bell Look Ahead– 6-29-2020

​Another Week Ahead in Energy from the duo at Oil and Gas 360!! 

 

Another Monday, Another 360 Digital Closing Bell Podcast, brought to you by www.oilandgas360.com. Another Monday, Another 360 Digital Closing Bell! Michael Tanner and Stuart Turley cover

Source: CNBC

Fed puts restrictions on bank dividends after test finds some banks could be stressed in pandemic

CNBC


The Federal Reserve put new restrictions on the U.S. banking industry Thursday after its annual stress test found that several banks could get uncomfortably close to minimum capital levels in scenarios tied to the coronavirus pandemic.

The Fed said …

June 26, 2020 - 2:00 pm Capital Markets, Closing Bell Story‎, Economy, Finance
A recent rally in oil prices had given energy executives in Texas hope that a recovery was at hand. Now they are not so sure.Credit...Tamir Kalifa for The New York Times

Still Reeling From Oil Plunge, Texas Faces New Threat: Surge in Virus Cases

The New York Times


Oil & Gas Publishers Note: $40 a barrel for one week does not count as a come back. It takes months of higher prices, and then you just cannot easily turn production. Crews re-hired, equipment pulled

Deutsche Bank and Olam International close Asia’s first FX Forward using ESG performance targets

Deutsche Bank and Olam International close Asia’s first FX Forward using ESG performance targets

Finextra


Oil & Gas 360 Publishers Note: We have been covering the importance of ESG and the corporations access to capital. What we have been seeing is that the world wide regulations are headed to the United States, and corporations

Dallas Fed Energy Survey – Activity in the oil and gas sector deteriorated further in Q2

Dallas Fed Energy Survey – Activity in the oil and gas sector deteriorated further in Q2

Dallas Fed


Activity in the oil and gas sector deteriorated further in second quarter 2020, according to oil and gas executives responding to the Dallas Fed Energy Survey. The business activity index—the survey’s broadest measure of conditions facing Eleventh District …

Source: CNBC

A tale of two recessions: Some Americans thrive as others suffer

CNBC


The recession caused by the coronavirus pandemic is playing out across stark — and widening — fault lines in America.

Lower earners, those with less schooling, women and minority groups have borne the brunt of the economic pain driven …

June 19, 2020 - 1:30 pm Closing Bell Story‎, Economy, Finance
Asian Development Bank to end fossil fuel financing

Asian Development Bank to end fossil fuel financing

Trend


NGO Forum on ADB, a network of over 250 civil society organizations across Asia calls out the Asian Development Bank (ADB) to end its green posturing and make real commitments towards a Paris aligned policy and appropriate clean energy …

June 17, 2020 - 7:33 pm Borrowing Base, Capital Markets, Economy, Finance, International
Enbridge says 800 staff have taken voluntary buyouts offered to cut costs

Enbridge says 800 staff have taken voluntary buyouts offered to cut costs

Enbridge


CALGARY – Enbridge Inc. says 800 employees have voluntarily left the company, allowing it to avoid layoffs as it cuts costs to counter impacts from COVID-19 and lower global oil prices.

The Calgary-based pipeline company announced in May it …

June 17, 2020 - 7:23 pm Canada, Canada News, Economy, Jobs
The 360 Digital Closing Bell Look Ahead– 6-15-2020

The 360 Digital Closing Bell Look Ahead– 6-15-2020

​Another Week Ahead in Energy from the duo at Oil and Gas 360!! 

 

Another Monday, Another 360 Digital Closing Bell Podcast, brought to you by www.oilandgas360.com. This episode has the duo talking verbiage, specifically recovery vs. rebound and

Source: Reuters

British oil major predicts that the coronavirus pandemic will hurt long-term demand

Bloomberg


BLOOMBERG: 15 JUNE 2020

BP will write down the value of its business by as much as $17.5 billion, as the British oil major predicts that the coronavirus pandemic will hurt long-term demand and accelerate the shift to cleaner

Source: CNBC

U.S. import prices post largest gain in more than a year

CNBC


U.S. import prices increased by the most in more than a year in May, driven by higher costs for petroleum products and food, which could further diminish fears of deflation as the economy battles a recession.

The Labor Department …

June 12, 2020 - 3:30 pm Closing Bell Story‎, Commodity Pricing, Economy, Finance
Source: CNBC

Treasury Secretary Mnuchin says ‘we can’t shut down the economy again’

CNBC


Treasury Secretary Steven Mnuchin told CNBC on Thursday that shutting down the economy for a second time to combat the spread of Covid-19 isn’t a viable option and could cause even more headaches for Americans.

 

His comments came …

June 11, 2020 - 3:00 pm Closing Bell Story‎, Economy, Regulatory
Source: CNBC

Fed sees interest rates staying near zero through 2022, GDP bouncing to 5% next year

CNBC


The Federal Reserve kept interest rates near zero and indicated that’s where they’ll stay as the economy recovers from the coronavirus pandemic.

Along with the rate decision, central bankers projected Wednesday that the economy will shrink 6.5% in 2020, …

June 10, 2020 - 2:30 pm Economy, Finance, Regulatory
The 360 Digital Closing Bell Look Ahead– 6-8-2020

The 360 Digital Closing Bell Look Ahead– 6-8-2020

​Another Week Ahead in Energy from the duo at Oil and Gas 360!! 

 

Michael Tanner and Stuart Turley cover everything you need to know about the upcoming week in energy Show starts diving into the story-behind-the-story on last

New OPEC+ deal reveals a more hands-on approach to price controls

New OPEC+ deal reveals a more hands-on approach to price controls

WorldOil


LONDON (Bloomberg) –On the surface, it’s the old OPEC strategy of production cuts. When the cartel and its allies meet on Saturday, they are set to extend their output curbs for an extra month into July in an effort …

June 7, 2020 - 1:00 pm Crude Oil News, Economy, International, OPEC
Source: Reuters

OPEC decides to keep production cuts

During a Saturday video-conference meeting Saudi Arabian Energy Minister Prince Abdulaziz bin Salman said there are grounds to be cautiously optimistic about the future, but there are still economic challenges ahead for oil producers and encouraged a swift decision to …

Source: CNBC

May sees biggest jobs increase ever of 2.5 million as economy starts to recover from coronavirus

CNBC


Employment stunningly rose by 2.5 million in May and the jobless rate declined to 13.3%, according to data Friday from the Labor Department that was far better than economists had been expecting and indicated that an economic turnaround could …

June 5, 2020 - 2:00 pm Closing Bell Story‎, Economy, Jobs
Canada is the largest source of U.S. energy imports

Canada is the largest source of U.S. energy imports

EIA


Oil & Gas Publishers Note: I still believe that creating and using a North America Oil Producers Trade Consortium used instead of OPEC would be a great boost for our economy and national security. Why play in the Russia

Source: Reuters

Trump to sign order giving agencies emergency powers to fast-track energy projects:-updated

Reuters


WASHINGTON – President Donald Trump on Thursday is expected to sign an executive order that would let federal agencies use emergency powers to fast track major energy infrastructure projects by overriding environmental permitting requirements, two sources familiar with the …

Source: CNBC

GDP is now projected to fall nearly 53% in the second quarter, according to a Fed gauge

CNBC


Economic activity in the second quarter has been cut by more than half, according to a tracker employed by the Atlanta Federal Reserve.

The GDPNow outlook is now showing a 52.8% tumble, following data Monday that U.S. manufacturing remains …

June 2, 2020 - 3:00 pm Closing Bell Story‎, Economy
Exclusive 360 Energy Expert Network Video Interview: Crossroads Strategic Advisors – Are you ready for bankruptcy in the oil and gas market?

Exclusive 360 Energy Expert Network Video Interview: Crossroads Strategic Advisors – Are you ready for bankruptcy in the oil and gas market?

OIl & Gas 360

 

Summary: Even before the additional shocks from COVID-19, the Wall Street funding that had supported the shale boom was dwindling and oversupply of oil & gas was pressuring commodity prices and well-level economics. Equity investors