• 3 minutes "Biden Is Running U.S. Energy Security Into The Ground" by Irina Slav
  • 6 minutes How Far Have We Really Gotten With Alternative Energy
  • 9 minutes "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 53 mins GREEN NEW DEAL = BLIZZARD OF LIES
  • 9 days 87,000 new IRS agents, higher taxes, and a massive green energy slush fund... "Here Are The Winners And Losers In The 'Inflation Reduction Act'"-ZeroHedge
  • 8 days Energy Armageddon
  • 1 day "Natural Gas Price Fundamental Daily Forecast – Grinding Toward Summer Highs Despite Huge Short Interest" by James Hyerczyk & REUTERS on NatGas
  • 3 days "Forget Oil, The Real Crisis Is Diesel Inventories: The US Has Just 25 Days Left" by Zero Hedge - 5 Stars *****
  • 4 days "The Global Digital ID Prison" by James Corbett of CorbettReport.com
  • 3 days "Europe’s Energy Crisis Has Ended Its Era Of Abundance" by Irina Slav
  • 1 day Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 4 days The Federal Reserve and Money...Aspects which are not widely known
  • 20 hours Is Europe heading for winter of discontent with extensive gas shortages?
  • 5 days Goldman Betting on Cryptocurrencies
  • 8 days Сryptocurrency predictions
  • 13 days Putin and Xi Bet on the Global South
Russian Hackers Target Dutch LNG Terminal

Russian Hackers Target Dutch LNG Terminal

Russian hackers appear to be…

The Diesel Crisis Is Going Global

The Diesel Crisis Is Going Global

Diesel inventories across the globe…

Japan Believes An LNG Supply Squeeze Is Looming

Japan Believes An LNG Supply Squeeze Is Looming

Japan, the world’s largest LNG…

Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews. 

More Info

Premium Content

Morgan Stanley Is Bullish On European Oil Stocks

  • Morgan Stanley reiterated its 'Attractive' stance on European energy stocks.
  • The bank’s top picks are Royal Dutch Shell and Italy’s Eni among the biggest firms, as well as Spain’s Repsol among the mid-cap companies.

High oil and gas prices will generate levels of cash flows for the biggest oil and gas companies in Europe, which will also be able to reduce debts and increase shareholder returns, Morgan Stanley says.

The five biggest European oil majors could generate a combined $66 billion in free cash flows in 2022, according to a note from the analysts, cited by Sharecast News.

“With compelling valuations, and rising bond yields driving value rotation, we reiterate our 'Attractive' stance,” Morgan Stanley’s analysts wrote in the note.

The bank’s top picks are Royal Dutch Shell and Italy’s Eni among the biggest firms, as well as Spain’s Repsol among the mid-cap companies.

Morgan Stanley also raised its share price targets of all European majors on their respective domestic stock exchanges.

All European oil and gas firms – BP, Eni, Repsol, Shell, TotalEnergies, and Equinor – have pledged over the past 18 months to become net-zero energy businesses. Shell, BP, and Eni have put timelines on their respective peak oil production. Shell said earlier this year that its oil production peaked in 2019, while BP looks to cut its oil and gas production by 40 percent by 2030 through active portfolio management and no exploration in new countries.

Despite these pledges, it will be oil and gas that will be the “cash engine” for supermajors for years to come.

“As a matter of fact, we see our upstream portfolio as an essential cash engine, not just for this decade but well into the next decade,” Shell’s CEO Ben Van Beurden said on an earnings call in February 2021.

Ahead of the second-quarter results, Shell, for example, said in early July that “strong cash generation supports additional shareholder distributions in the second half of 2021.”

Shell raised its dividend and started share buybacks after a strong Q2 performance.

By Tsvetana Paraskova for Oilprice.com

More Top Reads from Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





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