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Home > Energy Week > Episode 120 - Aramco losses | Oil price | Double Stuf Oreos | Reliance deal
Podcast: Energy Week
Episode:

Episode 120 - Aramco losses | Oil price | Double Stuf Oreos | Reliance deal
Category: Government & Organizations
Duration: 00:43:03
Publish Date: 2020-08-10 23:55:15
Description: Aramco Posts $6.6 Billion Profit Amidst Dismal Oil & Gas Earnings But Dividend Promise Weighs Heavy
https://www.forbes.com/sites/ellenrwald/2020/08/10/aramco-posts-66-billion-profit-amidst-dismal-oil--gas-earnings-but-dividend-promise-weighs-heavy/#beea33f35018
- Aramco turns a profit but has to pay such large dividend that its profit isn’t that great
- Large dividend and responsibilities to government and public shareholders are eating into the company’s ability to invest in capital expenditures
- Aramco is banking on demand in Asia remaining strong and it sells 70-75% of its oil to Asia

US upstream oil companies downplay Biden risk
https://www.argusmedia.com/en/news/2130976-us-upstream-oil-companies-downplay-biden-risk
- Big oil companies saying they’re ok with a Biden presidency that would limit or prohibit drilling on federal lands because they can substitute with non-federal lands.
- Is that really posturing?

Economic meltdown threatens Europe's war on plastic
https://www.reuters.com/article/us-health-coronavirus-europe-plastic-idUSKCN2531AO
- recycled plastic is too expensive when oil is still so cheap

U.S. court allows Dakota Access oil pipeline to stay open, but permit status unclear
https://www.reuters.com/article/us-usa-pipeline-dakota-access-idUSKCN2512X8

OPEC+ oil cut compliance dips in July, ahead of quota easing: Platts survey
https://www.spglobal.com/platts/en/market-insights/latest-news/oil/081020-opec-oil-cut-compliance-dips-in-july-ahead-of-quota-easing-platts-survey
- OPEC+ producers produced more oil in July even though they weren’t supposed to until August
- Uptick in 1.1 million bpd in July from OPEC+ group

Pandemic shrinks US refining capacity
https://www.argusmedia.com/en/news/2130959-pandemic-shrinks-us-refining-capacity
- 500,000 bpd of US refining capacity has been idled due to cost concerns

Aramco Still Aims for $15 Billion Deal With India’s Reliance
https://www.bloomberg.com/amp/news/articles/2020-08-09/aramco-still-aims-for-15-billion-investment-in-india-s-reliance
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