Citi’s commodity research team just released a densely-packed note that breaks down the US oil transportation system reorganization currently underway and models potential market impacts associated with shifting crude and product flow patterns. Global oil price benchmark crude West Texas Intermediate (WTI) traded at a slight premium to the world’s other major benchmark, Brent, for… Keep reading →
Sustained growth in spending on exploration and production across the globe will focus on plays outside North America, a survey from a global bank concludes, despite the country’s growing profile and its potential to become the top global crude producer in coming decades.
Global exploration-and-production spending is poised to reach a record $644 billion by the end of 2013, a semi-annual Barclays analysis predicts. The spending report also foresees strong oil prices, which have emerged as the principal bellwether for growth in E&P budgets. Keep reading →
Citic, CLSA, CNOOC, Nexen, Sinopec and Talisman: China’s Multi-Billion Dollar Week in the Energy Markets
By Peter GardettThe bureaucrats in Beijing and the businessmen in Shanghai have been busy in recent weeks, negotiating a series of headline deals that sync into broader themes of Chinese access to global energy and commodities markets.
Bankers at Wall Street and City of London banks have spent much of the past week telling financial reporters that the impending sale of the remaining 80% of the Asian arm of French bank Credit Agricole represented an old finance industry meme: an out-of-towner overpaying for access to the premier league of global banking. Keep reading →