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Daily Standup Top Stories
Dropping Oil Price Boosts Odds of Ukraine Peace Deal, Trump Says
ENB Pub Note: President Trump’s team still does not understand what motivates President Putin to end the war. In the following article from Bloomberg, President Trump oddly says that low oil prices will bring President […]
Saudi Arabia’s New Oil Play – Embracing the Glut to Win the Long Game
ENB Pub Note: This is an excellent article from Irina Slav at Oilprice.com. I like the phrase “Embracing the Glut to Win the Long Game.” You must also subscribe to Irina’s Substack. She is right on the […]
KN awards contract for Klaipeda FSRU electrification project
Following KN’s international public procurement process for engineering, procurement, and construction (EPC) works, KN awarded the contract to Lithuania’s Kauno Tiltai, a specialist in roads, bridges, and infrastructure projects. KN said the contract for the […]
What is the future for U.S. crude oil? Have we hit peak production?
ENB Pub Note: This article is from The Crude Truth Substack. I agree with the point that a single basin output does not define the country’s energy production capabilities. So, has the United States hit […]
Sunoco’s $9 Billion Acquisition of Parkland
ENB Pub Note: This is from Nathan’s Substack. We highly recommend following him as he is a wealth of energy and knowledge in the U.S. Sunoco LP, a major player in the U.S. energy […]
Highlights of the Podcast
00:00 – Intro
01:40 – Dropping Oil Price Boosts Odds of Ukraine Peace Deal, Trump Says
04:54 – Saudi Arabia’s New Oil Play – Embracing the Glut to Win the Long Game
07:00 – KN awards contract for Klaipeda FSRU electrification project
09:27 – What is the future for U.S. crude oil? Have we hit peak production?
12:36 – Sunoco’s $9 Billion Acquisition of Parkland
14:19 – Outro
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Video Transcription edited for grammar. We disavow any errors unless they make us look better or smarter.
Stuart Turley: [00:00:00] And President Donald Trump said that the sliding price of oil is intensifying pressure on Russia and boosting the odds for a deal to end the war in Ukraine. Quote, I think Russia with the price of Oil now, oil has gone down. I think we’re in a good position to settle, Trump told reporters in the Oval Office on Monday. They want to settle. Ukraine wants to settle if I weren’t president, nobody would be settling. And I agree with that. That statement, but I believe that he is still misled by his team. He does not have the right information with him around him. [00:00:34][34.7]
Stuart Turley: [00:00:42] Hello everybody, welcome to the Energy Newsbeat Daily Standup, my name is Stu Turley, President of the CEO of Sandstone Group, this podcast has absolutely got some great stories for it today. Dropping oil prices, odds of Ukraine peace deal, Trump says. I got a little different opinion, but we’ll just go on to the next story here. Saudi Arabia’s new oil play, embracing the glut to win the long game. Saudi Arabia normally looks at the long play. KN awards contract for Qadalia FSRU electrification project and LNJ to Energy Port, that is a good deal. What’s the future of U.S. Crude oil? Have we hit peak production? That’s a big question. Sunoco’s $9 billion dollar acquisition of Parkland. Pretty big story from a good friend of the show there, Nathan. Nathan’s newsletter. [00:01:39][56.9]
Stuart Turley: [00:01:40] Let’s get started with our first story here. Dropping oil prices boosts odds of Ukraine peace deal, Trump says. I’ll tell you what, I disagree with this article. The article first comes out from Bloomberg and President Donald Trump said that the sliding price of oil is intensifying pressure on Russia and boosting the odds for a deal to end the war in Ukraine. I think Russia, with the price of oil now, oil has gone down. I think we’re in a good position to settle, Trump told reporters in the Oval Office on Monday. They want to settle. Ukraine wants to settle them. If I weren’t president, nobody would be settling. And I agree with that. That statement, but I believe that he is still misled by his team. He does not have the right information with him around him. President Putin has gotten by an increased of 4.2 percent, I think somewhere around that range, GDP growth year on year by even selling at lower oil prices below market to keep his cash flow going. And I’ve included in this article the list of crude oil exports from 2021 through 2025 so far, and we’re on track. And so when you sit back and take a look at 47% in January through March, 47% of the key market is China, 38% is India, and EU is only 6% of his business. So When you sit back and take a look at where 2020 was, Europe was 50% of his business and China was 30%, Netherlands and Germany between the two of them was 25%. So the numbers don’t add up. President Putin has done a great job moving his business to the Asia market and EU is going to be no longer relevant as a trading bloc if they continue with their current policies. George McMillan has said it best and he’s basically said Putin is prosecuting the war against the city of London and the city Paris, not President Trump. He’s not stiffing President Trump by not ending the war. He’s trying to end the war against the city of London and the city of Paris on those people that had been prosecuting and tried to bankrupt. President Putin. So when you take a look at how all this is playing out, it is President Trump really needs a new advisor, and General Flynn I believe would be the best one, but he hadn’t called me and asked for my opinion yet, but I would vote for President or for General Flynn in about two and a half seconds. Let’s go to the next story here. Oh, by the way, and if you would go to energynewsbeat.co and then look at the menu up at the top and go to resources and George McMillan. Just type in George anywhere in there and you’ll see an entire outline of all of his contributing stories. I thought it was a great point. [00:04:53][193.2]
Stuart Turley: [00:04:54] Let’s go to the next story here. Saudi Arabia as a new oil play embracing the glut to win the long game. This is an excellent article from Irina Slav at OilPrice.com. I like the phrase, embracing the glut to win the long game. I highly recommend that you do subscribe to Irina Substack. She is on the money on this one again. And I want to give Josh Young a shout out as well again as he’s been on X just posting some great things. I included one of his posts and Saudi triggering a further decline in oil price when Aramco’s breakeven is 77 plus and Saudi’s fiscal breakevan is closer to a $95 oil. So when you sit back and take a look at Josh Young, he is a true thought leader as well. I really like both of them. And I highly like this article that she wrote. Oil markets took another hit this weekend as OPEC Plus threw another curveball in the virtual meeting. On Saturday the group Saudi Arabia and Russia announced 411,000 barrels per day output hike for June. At first glance this looks like a crackdown on quota violators Kazakhstan, which Michael and I talked about yesterday in Iraq. But this is actually a little bit different. With enforcement efforts having failed, Saudi Arabia seems to be letting the prices do the disciplining. And if they’re going to just bankrupt everybody else, Saudi is looking at this for the long haul and I like the way Irene is pointing this out. Saudi Arabia isn’t just reacting, it’s adapting. Trading short term revenue for strategic positioning. This is not a war cry. It’s a recalibration and it could change the market for years to come. You got to hand it to the Saudi kingdom in the way that they think. They don’t think past destroying the strategic oil reserve for the next election cycle. They think in decades rather than the next election cycle,. [00:06:59][125.3]
Stuart Turley: [00:07:00] Let’s go to the next story here. KN awards contract for Cali FSRU electrification project. And as I get started in this story, I want to give Reese Consulting a shout out. They are a wonderful sponsor of the show, the Energy Newsbeat Daily Standup. Steve Reese and his team do an absolute wonderful job over there. Please check out reeseenergyconsulting.com and if you are looking to either move molecules from here to Germany, from Texas, from the Permian, anywhere you need to move them. If you are a midstream partner and you want to make sure that you’re getting all that you are moving and have a great on it. Reese Energy Consulting is the team for you. We also they have a great training outfit as well too and with as much energy as we’ve got going on in the United States you’re going to need some training. Give them a shot out there as well. [00:07:53][52.8]
Stuart Turley: [00:07:53] So let’s start here. This is in Lithuania’s Manano Tiali, I apologize for butchering that, a specialist in roads and bridges and infrastructure projects. KN said the contract for Epic Works of the power line construction with the FSR based LNG terminal is valued at 13 million euros or 21 million excluding VAT. Under the contract, we’ll design and install the electrical cable for the 170,000 CBM FSRU independents. The cable will run through territory of the Calypia city and beneath the Carina Lagoon. The reason this story is so important, is we are seeing more and more straight LNG to electrical power plant modifications being done around the world, and this is brilliant. It’s going to help lower the output, it is much better than coal, it’s easier to transport and coal, and if you’re Hawaii… You need to get rid of your fuel oil, basically, that you’re using. It’s worse than coal. So anyway, this is a great story. And we had several other stories on Energy Newsbeat where we’re seeing more and more ships going LNG powered which also is LNG bunkering and everything else. So the container ships are coming out, huge numbers. In LNG dual-fueled container ships. [00:09:26][92.8]
Stuart Turley: [00:09:27] So let’s go to the next story here. What’s the future of U.S. Crude oil? Have we hit peak production? This is a great article from the Crude Truth Substack, Rey Trevino. With PECOS operating over there, I agree that a single basin output does not divine the country’s energy production capabilities. So has the United States hit peak oil and gas production, or is it just one basin that has hit that? I agree with Ray Trevino that we’re not done yet. The United States will find a way and let’s get California under control. Rey in his article really took a look at what was written in oilprice.com. Charles Kennedy wrote this article out and he says Charles Kennedy from Oil Price says energy flows intelligence Kepler forecasts that US crude oil supply growth will slow for the rest of 2025 and into 2026 with peak as early as this year attributes this revised forecast to WTI crude oil price is falling below $60 per barrel. Which is testing the breakeven point for many US shale oil producers. With WTI, the main benchmark crude is near breakeeven at the new well levels. And if you look at the chart that we’ve had and we’ve talked about in the past is from the great Dallas Reserve Fed of Dallas. You look at other shale plays at $59 breakeaven. Permian Midland 62, Permian Delaware Basin is 64, Oklahoma Skoopsk Stack is around 65, Other is 66, but Permian Basin Other is up around 70, depending on the water volume. Water is becoming a critical issue as you’re having to pump more of the water in and getting more water back out and less oil. As some of your moving on to the second tier problems in the Permian. I don’t believe the United States has hit peak oil yet. We still have a lot of oil going on in Alaska. In fact, Gavin Newsom, let me just point out this point that RT is making in this and that is California. Was energy independent before Gavin Newsom. The refineries, as Mike Umbro told me, Mike Umbrow pointed out that the refinerys in Alaska, refinery are capable of in California of using Alaskan crude. Why are we importing 70% of the fifth largest economy in the world is a real that we need to ask our leadership why. And if I was a California citizen, I’d be asking, why did we have these constant elections up there? [00:12:21][174.5]
Stuart Turley: [00:12:22] Let’s go to the last story here before I have a blood vessel break talking about Gavin Gavin, if you’re listening to the podcast, you’re always more than welcome to be on here, but I don’t think you’d like to listen to me ask you about your politics. [00:12:35][13.2]
Stuart Turley: [00:12:36] Let’s go to the last story here. Sunoco’s 9 billion dollar acquisition of Parkland. This is a great story from Nathan Substack. I like Nathan Hammer. He’s a cool cat over there and I recommend following him. Sunco, a major player in the U.S. Energy sector, has announced a landmark deal to acquire Parkland Corporation for 9.1 billion. It’s a strategic move to set the largest retail-fueling convenience store giant in the Americas, significantly expanding Sunoco’s footprint across Canada, U.S., and the Caribbean. This is really cool. It includes cash and stock options with Parkland shareholders receiving 29.5 Sunoco units and CAD at $19.80 per share. Alternatively, they can opt in for CAD at $44 per share in cash or 53.56 units, 0.536 Sunoco Units. The acquisition promises immediate financial benefits, including over 10% accretion to a distributable cash flow common unit and $250 million in annual synergies. This is actually very cool. For the Sunoco acquisition, Parkland is a strategic masterstroke that positions a combined entity as a dominant force in the industry. This makes a lot of sense and a hats off to them for getting this 9 billion dollar acquisition done and synergies of scale matter when you’re in the transportation world. [00:14:18][101.9]
Stuart Turley: [00:14:19] So we’d like to just give a shout out to all of the folks that are listening to the Energy Newsbeat podcast. Go to theenergynewsbeat.co or the substack theenergynewsbeat.substack.com. I’ve got some Fantastic podcast coming out and scheduling Doomberg again. Got Doomberg, he’s getting on the calendar. I can’t wait to talk to my favorite market leader and get ask his opinion on what he thinks is going on out there. So have an absolutely wonderful day out there. We’ll talk to you all soon. [00:14:19][0.0][845.4]
The post Trump: Can Oil Prices Push Ukraine Toward Peace? appeared first on Energy News Beat.
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