伯恩斯坦能源日报 - 7月11日

xt Increase (Bloomberg). OPEC+ is discussing a pause in further www.bernsteinresearch.com majorChineseshipyardsforproposalstoconvertaverylargecrudecarrier(VLCC)toanewFSO.Upstreamunderstandsfrommultiplesources familiar with the matter that Yinson has invited both CoSCO Shipping Heavy Industry and Huarun Dadong Dockyard to submittechnical and commercial bidsfortheconversionproject.The newFsO is setto replacethe existing Unity unit, whichhasbeentheprimary crude export hub for several key fields in Nigeria's shallow-water Block OML 100 for more than two decades.: Shell gets go-ahead to drill in South Africa's Orange basin (Upstream). Shell has been granted environmental authorisation fora potential five-well drilling campaign in South Africa's part of the Orange basin. The supermajor's Northern Cape Ultra Deep (NCUD)block lies close to TotalEnergies huge oil and gas finds - Venus and Mangetti - in Namibia. Drilling could begin as early as 2026,according to documentation filed earlier by Shell.AMERICASExxon to halt Mars crude purchases until zinc contamination fixed, sources say (Reuters). Exxon Mobil told its tradingcounterparts that it will not buy the Mars crude oil grade until a zinc contamination issue is fixed,two sources familiar with thematter told Reuters on Thursday. Zinc contamination in the Mars crude oil stream has pushed down demand and slashed prices fortheflagship crudeoilproducedoffthe U.S.Gulf coast, sources said earlierthis week.Chevron plans s5 billion blue ammonia plant as part of Texas hydrogen hub (Upstream). Chevron is planning to build a$5 billion blue hydrogen and ammonia plant in Port Arthur, Texas, and has requested funding as part of the state's federally-funded HyVelocity Hub. The development, dubbed 'Project Labrador, is scheduled to begin construction in 2027, with commercialoperations slated for 2032, according to a filing with local authorities requesting property tax breaks, Upstream's sister titleHydrogen Insight reported.emergency appeal of a U.S. judge's order that it turn over its 51% stake in oil and gas company YPF to partially satisfy a $16.1bilion court judgment. Saying "the stakes could not be higher' Argentina told the 2nd U.S. Circuit Court of Appeals in Manhattanof a controlling stake in the country's largest energy company.first large-scale liquefied natural gas export facility, has failed to lift Western Canadian natural gas prices as quickly as some marketparticipants and observers expected, due to a persistgnt supply glut and the gradual pace of the facility's ramp-up. Shell-led LNGCanada shipped its first cargo of 70,000 metric tpns from the country's Pacific coast on June 30, to South Korea.eAPACmarket share in China, dienlbysubsidies and the quick rollout of chargers, further curbing diesel usage and denting oil demand fromthe world'sbiggest crude importer.Theboom in electric truck sales in Chinafollows that of electric carsandthe rise in recent yearsof LNG-powered heavy trucks. Those factors, combined with slowing economic growth, have stifled its oil consumption growthEUROPEANOIL&GASBERNSTEINSOCECROU MODELSBP/.LN / BP PLCENI.IM / ENI SpAGALP.PL / Galp Energia SGPS SAEUROPEAN OIL & GAS The US imports half its copper.SHEL.LN / Shell PLCTTE.FP / TotalEnergies SEAKRBP.NO / Aker BPEQNR.NO / Equinor ASAMARKETING DECKEuropean Oil & Gas Marketing DeckFocus on Norwegian-listed stocksRefined copper imports by country...from a handful of countries.8 Jul 2025 - Shell 2Q trading update - Chemicals and trading disappoint8 Jul 2025 - Quick Take: Galp 2Q trading update - positive7 Jul 2025 - AE&T: The Four Horsemen of the Oilpocalypse, 2H25 edition16 Jun 2025 - European Oil & Gas porfolio bullet proofing: upgrading TotalEnergies up to OP/most preferred, Shell down to MP13 Jun 2025 - European Oil & Gas Weekly Wrap - June 13th6 Jun 2025 - European Oil & Gas Weekly Wrap - June 6th6 Jun 2025 - Bernstein Energy & Power: To EV or Not to EV...the real world experience of our Oils & Utilities analysts30 May 2025 - European Oil & Gas Weekly Wrap - May 30th2 1 May 2025 - Bernstein Energy: Global Oil Marginal Cost Survey 202515 May 2025 - IEA Oil Market Update - Initial perspectives. Positive update on positive demand revisions12 May 2025 - We are buyers of Shell and BP but unconvinced on Shell+BP9 May 2025 - European Oil & Gas Weekly Wrap - May 9th2 May 2025 - Bernstein Energy & Power: Drill baby drill...for geothermal30 Apr 2025 - Repsol Q1'25: Strategic delivery of 2bn 2025 asset disposals and ability to maintain investor distributions at stress macroPrimaryefined30 Apr 2025 - TotalEnergies 1Q: growth, low costs and balance sheet make $2bn quarterly buyback affordable at $60-65/bbl.28 Apr 2025 - Galp: resilient 1Q result - no particular news on Namibia25 Apr 2025 - European Oil & Gas Weekly Wrap - April 25th16 Apr 2025 - Shell: Best Idea Second Quarter 2025 - priced for recession, able to sustain buybacks at $60/bbl in perpetuity - OutperformJanuary-December BERNSTEIN SOCIETE