Tag: nationalisation

Best in Energy – 7 July 2022

EU parliament adds gas and nuclear to green energy list

France to renationalise nuclear power generator EdF

Aramco raises official selling prices as oil futures fall

Oil price falls not yet justified by recession risk ($BBG)

China tax reductions hit $385 billion in Jan-June (trans.)

China plans to boost car sales after lockdown hit ($BBG)

United States intensifies sanctions enforcement on Iran

PRIOR to this week’s sharp drop in oil prices, hedge fund positioning was not showing the congestion that often signals an imminent reversal in the price trend:

HEDGE FUND positions in crude were below average in both Brent and WTI (36-37th percentile). The ratio of long to short positions showed a bullish bias but not excessively so (65-66th percentile):

HEDGE FUND managers showed no sign of preparing for a sharp fall in oil prices – with the number of short positions close to multi-year lows:

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Best in Energy – 27 April 2022

Russia halts gas deliveries to Poland and Bulgaria

Germany says gas transit unaffected by dispute

Germany plans to seize Russian-owned refinery

Italy explores Russian-owned refinery seizure

EU remains reliant on Russian diesel imports

Britain plans to extend coal-fired generation

India plans to boost coal imports through 2025

China to boost infrastructure spending ($BBG)

China plans major infrastructure boost (trans.)*

Narratives about inflation and recession as epidemic

World Bank warns over energy and food prices shock

Indonesia needs Russian oil to keep prices down ($FT)

* The announcement was anodyne but significant the policy meeting was chaired by the president himself and the write up is the top item across all state-controlled media and government websites (Xinhua, NDRC and State Council) emphasising importance of the investment message and signal.  

BRITAIN plans to extend coal-fired power generation at Drax to cope with gas and electricity shortages, according to the operator:

EUROPE’s gas traders were sanguine about the ability to replenish storage over the next few months ahead of next winter’s heating season, at least before Gazprom announced it would cut deliveries to Poland and Bulgaria. Benchmark futures for summer 2022 and winter 2022/23 gas have been high but stable for more than a month and the backwardation has remained narrow and also stable, indicating that most traders expected a regular storage fill:

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