Miscellaneous
Aramco maintains July crude cuts to some Asian buyershttps://www.argusmedia.com/en/news/2114337-aramco-maintains-july-crude-cuts-to-some-asian-buyers- Aramco raised OSPs to Asia about $6 but WILL Refiners bite? Seems like some are taking full volume but others are looking at more Russian Urals and US WTI insteadIraq agrees with oil companies on deeper output cuts in June- sourceshttps://www.reuters.com/article/global-oil-iraq/update-1-iraq-agrees-with-oil-companies-on-deeper-output-cuts-in-june-sources-idUSL8N2DR0H4- Iraq finally agreed with Lukoil, BP and Exxon on further production cutsGermany will require all petrol stations to provide electric car charginghttps://www.reuters.com/article/us-health-coronavirus-germany-autos-idUSKBN23B1WU- 70,000 charging stations 7,000 fast charging stations needed- Will electric vehicle users actually charge their cars at gasoline stations? Or are the infrastructure needs of EVs totally different from those of ICE vehicles?Special Report: How China got shipments of Venezuelan oil despite U.S. sanctionshttps://uk.reuters.com/article/uk-venezuela-oil-deals-special-report/special-report-vast-amounts-of-venezuelan-oil-are-hidden-en-route-to-china-bypassing-u-s-sanctions-data-documents-idUKKBN23J1N7- How? Put it in a tanker and say its going to Malaysia and use a Rosneft subsidiary in SwitzerlandBanks Cut Shale Drillers’ Lifelines as Losses Mounthttps://www.wsj.com/articles/banks-cut-shale-drillers-lifelines-as-losses-mount-11592217000- $1.2 billion to $700 million from Centennial. Who gets the money? Is the money going from one driller to another? Or is it cutting out oil and gas from its portfolio entirely and shifting it to real estate?- Not enough information to say whether this is actually bad news or not since reigning in credit limits could just be a response to decisions by companies to drill lessWhat rebound? North Dakota in economic crunch as virus batters oil, agriculturehttps://www.reuters.com/article/us-health-coronavirus-usa-states-insight-idUSKBN23J1I9- Trouble in North Dakota due to agriculture and oil- 53% of North Dakota tax revenue comes from oil taxes. Is North Dakota a petrostate?Texas Oil-Export Terminals Start Up Even as Shipments Tumblehttps://www.bloomberg.com/news/articles/2020-06-12/texas-oil-export-terminals-start-up-even-as-shipments-tumblePermian operators to drive US output revivalhttps://www.argusmedia.com/en/news/2114422-permian-operators-to-drive-us-output-revival#https://www.nytimes.com/2020/06/13/opinion/sunday/women-leaders-coronavirus.html?Enemy of the People: The Untold Story of the Journalists Who Opposed Hitlerhttps://amzn.to/3d4ATFR