• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 6 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 days How Far Have We Really Gotten With Alternative Energy
  • 7 days What fool thought this was a good idea...
  • 10 days They pay YOU to TAKE Natural Gas
  • 10 days Why does this keep coming up? (The Renewable Energy Land Rush Could Threaten Food Security)
  • 5 days A question...
  • 16 days The United States produced more crude oil than any nation, at any time.
Editorial Dept

Editorial Dept

More Info

Premium Content

Banks Battle For The Aramco IPO

Trading

Market Movers

- JPMorgan (NYSE: JPM) shares are up as media label it as the frontrunner for investment banks to take the lead in Aramco’s upcoming IPO, which appears to be moving along at a healthy pace now with the reshuffling of Saudi Arabia’s energy ministry and Aramco’s board. From Friday at $112.63, JPM’s stock rose to $116.23 by mid-day on Tuesday. Aramco has selected a range of banks for the IPO, and wasting no time, these banks have flocked to Dubai's Ritz Carlton this week for meetings with Aramco and the SWF.

- Canada’s oil inventories are falling and have reached lows not seen in years, at 26 million barrels as of the end of last month. This is a markedly different picture than the glut from last year that drove the discount of WCS to WTI to crazy lows. But Canada isn’t out of the woods just yet and has extended its production caps by one year. Without Enbridge’s Line 3 - which has been delayed to no one’s surprise - and without those production caps, Canada would be producing 150,000 barrels more per day than it could consume and export.

Discovery & Development

- Independent Oil & Gas has confirmed an estimated 129 bcf gas find at Harvey appraisal well in the North Sea. Analysis is now underway to determine resource range and reservoir quality.

- OPEC’s smallest member, Equatorial Guinea, has plans to boost oil output by 15,000 bpd in September, as new finds by Noble Energy come online. This will be in addition to the 128,000…





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News