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Fifty years of oil trading
The invisible hand of the market has seen increasing transparency but much more needs to be done to build a better understanding
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Fast-tracking US project approvals and increased trade pressures have already changed the LNG landscape since Trump came to office, with further transformation ahead
Letter from the US: Oil and gas producers face tax threat
Capping state corporate income tax deductions would reduce energy supplies and raise prices
Trump’s energy policy paradox
US consumers are not likely to see gasoline prices fall to Trump’s ‘beautiful number’, at least if the president also wants to encourage more drilling
Letter from the US: Houston has a problem with Trump’s energy policy
At some point it is likely that $70/bl will be quietly accepted as the producer-consumer sweet spot for a US administration having to balance both sides of the ledger
On tariffs, Trump is an open book
There is method to the US president’s apparent madness, and those seeking to understand need look no further than their local bookshop
Letter from the US: Trumpism threatens oil producers’ survival
Well-functioning democracies are required for healthier economies and a thriving oil industry
US upstream reasserts strategic importance
The country’s renewed focus on energy security has seen it move closer to Russia and Saudi Arabia on supply
Mideast Gulf oil exporters may engage in price war
The spectre of Saudi Arabia’s 2020 market share strategy haunts a suffering OPEC+ as Trump upends the energy world
Oil and gas industry beats demand drum
Bearish market sentiment and bullish long-term outlook for oil and gas consumption prevails at CERAWeek
Free cash flow is booming with commodity prices holding firm
US Permian ConocoPhillips Occidental
Charles Waine
5 August 2021
Follow @PetroleumEcon
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Limited hedging boosts US super-indies

Strong domestic asset bases are helping drive financial performance at Occidental and ConocoPhillips and giving pause for thought on production guidance

US super independents Occidental Petroleum and ConocoPhillips have both enjoyed their best financial quarter since the pandemic devastated energy demand and caused global supply to contract. Occidental posted its first positive net income result in over a year for Q2, while ConocoPhillips more than doubled its income compared with Q1. ConocoPhillips’ unhedged position marks it out among US E&Ps, with most taking a more cautious approach after the volatility of the past year. The company generated c.$2.8bn in free cash flow (FCF) over Q2. Occidental also managed its highest FCF, but revenues could have been even higher if the firm had not collared 630mn ft³/d (17.8mn m³/d) in gas producti

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