Episode 106 - Coronavirus recovery yet? | Nigeria wrecked by oil & COVID | Oil and economic waste

Published: April 28, 2020, 5 a.m.

b'Is the fear factor too strong for an economic recovery even if economies start to open up?
- stimulus matters
- gov subsidizing fear

Oil Slump, Coronavirus Create a Perfect Storm for Nigeria\\u2019s Economy
\\ufeffhttps://www.wsj.com/articles/oil-slump-coronavirus-create-a-perfect-storm-for-nigerias-economy-11588000761
- Nigeria\\u2019s break even oil price is $133/barrel
- Oil accounts for 60% of government revenue and 90% of foreign exchange
- Was once number 1 country for pipeline theft. How much is that driving up break-even price?
- Political ramifications of low oil prices will be amplified in Nigeria

How the U.S. could use taxpayer dollars to save oil and energy companies
https://mobile.reuters.com/article/amp/idUSL2N2CC2KF
- Could the U.S. \\u201cnationalize\\u201d the oil industry? No, not likely
- Could the U.S. gov bailout oil industry by getting equity state in oil companies and then selling it back?

What Saudi Arabia Can Do to Lead Again on Oil
https://www.bloomberg.com/opinion/articles/2020-04-23/coronavirus-3-things-saudi-arabia-can-do-to-lead-again-on-oil
- Replace leadership at the top to try and restore market confidence in Saudi Arabia\\u2019s leadership

When oil became waste: a week of turmoil for crude, and more pain to come
https://mobile.reuters.com/article/amp/idUSKCN228059?
- What will happen to midstream contracts if small companies go bankrupt or the assets are purchased by other companies?
- Midstream companies might be in trouble

Oklahoma asks Trump to declare coronavirus an \'act of God\' to help oil producers
https://www.reuters.com/article/us-oil-usa-oklahoma/oklahoma-asks-trump-to-declare-coronavirus-an-act-of-god-to-help-oil-producers-idUSKCN2280OR
- declaring Force Majure on oil would allow leases to be maintain, but why don\\u2019t producers Just renegotiate with the land owners?
- compare this to North Dakota which is issuing well wavers for 5,000 wells. Production could decline about 300,000 bpd.

Russia\'s Tatneft cuts oil output ahead of OPEC+ amid lack of storage, poor demand: sources
https://mobile.reuters.com/article/amp/idUSKCN2290Y0

South Korea Has Run Out of Commercial Storage Space for Oil
https://www.bloomberg.com/amp/news/articles/2020-04-27/south-korea-has-run-out-of-commercial-storage-space-for-oil

Global oil supply to fall 6% by 2030 due to delayed projects: data
https://www.reuters.com/article/us-global-oil-supply-graphic/global-oil-supply-to-fall-6-by-2030-due-to-delayed-projects-data-idUSKCN2261LL

DOE Announces Crude Oil Storage Contracts to Help Alleviate U.S. Oil Industry Storage Crunch
https://www.energy.gov/articles/doe-announces-crude-oil-storage-contracts-help-alleviate-us-oil-industry-storage-crunch

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit energyweek.substack.com'