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Jul
Wrap – Week Ended 7/22/16
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The ZLT was off 1% last week and is up 26% in 2016. The XOP was off 1% and is up 13% YTD.
The Trading Blotter is updated.
2Q16 earnings season began with Service taking the lead (largely as expected - see comments under HAL, SLB, and CLB in this last week's posts or see the "So Far This Quarter" table in Friday's post.)
Also, the first of the gassy stalwart names, SWN, reporting a beat and more threw the company from Neutral to 5th gear, getting back to work (more rapidly than even they expected - see comments in last Friday's post).
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Questions and comments under The Wrap will be addressed in the Monday post.
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Nigeria fuel shortage prompts gov't to send police to patrol fuel stations countrywide (Aberdeen Oil News July 23)
Pemex Cadereyta Refinery was producing 66.000 bps of gas & 41000 bps of low sulphur diesel at time of a 'HARD' shutdown on Tuesday,, Existing US contracts all being accelerated. Area (Nuevo Leone state) inventories were very low at time is shutdown per Reuters
July 23rd, 2016 at 2:30 pmNigeria fuel shortage prompts gov't to send police to patrol fuel stations countrywide (Aberdeen Oil News July 23)
Pemex Cadereyta Refinery was producing 66.000 bpd of gas & 41000 bpd of low sulphur diesel at time of a 'HARD' shutdown on Tuesday,, Existing US contracts all being accelerated. Area (Nuevo Leone state) inventories were very low at time is shutdown per Reuters
July 23rd, 2016 at 3:26 pmNE NGL market growing:
http://www.oilandgas360.com/northeast-ngl-market-will-take-off-storage-capacity-strains-relieved/?utm_medium=email&sslid=Mzc1NLQ0MTY1N7cEAA&sseid=szAzMjc1MDcFAA&jobid=ddae3b5e-4e91-42b3-9c5d-72ef19b53f4d
July 23rd, 2016 at 7:34 pmNo break from the heat with the new 3 month forecast … hot, hot, hot eveywhere