Opec losing the Latin beat

Don’t be surprised to find an idle Spanish language interpreter or two along Vienna’s Helferstorferstrasse this week, as Latin America’s sole Opec members are preoccupied with their rocky home fronts. Venezuela and Ecuador appear content to let Opec´s heavyweights plus Russia hammer out the terms of the likely extension of a deal to restrict output. Their effective withdrawal means the region has less of a voice at the negotiating table, matching their loss of relevance in the market. Continue reading

A wasted opportunity

Limited flexibility in the auction schedule for buying pipeline capacity has resulted in an opportunity to profit from the NBP’s premium this winter being lost.

The NBP January and February contracts held a premium to the TTF wider than 4.45p/th from early September until the start of this week. This was enough to cover the cost of buying short-term BBL capacity to the UK from the Netherlands and other fees, such as the commodity charges.

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Saudi Arabia in uncharted waters

Saudi economic officials have issued a slew of statements aimed at reassuring investors — particularly from abroad — following the unveiling of King Salman bin Abdel-Aziz’s anti-corruption committee — headed by his son, crown prince Mohammad bin Salman — and the near simultaneous arrest of 11 princes, tens of past and present ministers, and senior officials and businessmen for investigation by the committee.

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