OMVKY News and Press, OMV Aktiengesellschaft ADR From 03/25/22

This week's DOE inventory update showed a larger than expected 10.9mb draw in oil and oil products (USO). TSA checkpoint data pointed to a ~1% increase in passenger volume week on week (JETS). California announced plans to provide a $400 payment per registered vehicle to consumers. The UK cut...

Suspension of Nord Stream 2 pipeline by Germany and the US is a $1 billion headache for ENGIE. Europe is considering risks of dependence on Russian oil and gas; this might lead to doubling down on Renewable energy investment. Situation unclear as the US bans and Europe looks to re...

Shortly following the war in Ukraine, Shell (SHEL) and BP (BP) told customers to expect reduced supplies of diesel fuel. Earlier this week, the heads of three commodity trading houses said that Europe would face fuel shortages this summer. And two announcements Thursday suggest shor...

The European Commission released a proposal for additional sanctions against Russia Friday, in a step to ratchet up pressure on Putin following continued violence in Ukraine. The measures will "prohibit the import of key goods in the iron and steel sector from the Russian Federation" and are ...

According to a Reuters month-end survey, OPEC production grew in February by 420kb/d, exceeding OPEC quota growth, which targeted 254kb/d from the "core OPEC 10" and 400kb/d for the broader OPEC+ group (NYSE:XOM) (NYSE:CVX) (NYSEARCA:USO). If the survey proves to be accurate, February will ma...

Over the weekend, BP (NYSE:BP) announced plans to divest from the Company's ~20% shareholding in Rosneft (OTCPK:RNFTF); after the close Monday, Bloomberg sources indicated BP is planning to sell its ownership stake back to Rosneft. In the current environment, the buyers list for Rosneft share...

Update: According to Bloomberg's Washington Correspondent, Shell (NYSE:SHEL) intends to exit its joint ventures with Gazprom, as well as its 27.5% stake in the Sakhalin-II LNG facility. Separately, Equinor (NYSE:EQNR) has decided to stop new investments in Russia and begin the process of exit...

Following news over the weekend that BP (NYSE:BP) will divest the Company's Rosneft shares (OTCPK:RNFTF), investors have begun to parse through energy sector holdings in Russia. BP shares are down ~5% with oil up ~4% (NYSEARCA:USO) following the news. Management could not be fa...

Russia/Ukraine news dominated weekend headlines, as diplomacy moved forward, financial sanctions accelerated and violence continued in Ukraine. Many of the geopolitical updates will move commodity markets, and come in concert with energy-related policy statements. OPEC+ rumors swirled, as Fra...

Ahead of the US market open Thursday, the most heavily traded April Brent oil contract sits at ~$101, while the less liquid March contract hit $105. European natural gas prices are up ~30% to ~$37, and US Henry Hub natural gas is up ~8% to $4.8. European energy stocks are mixed, Russian names...