All New Wilmott Jobs Board                     (b)

Oil Prices Rise Due to Global Geopolitical Turmoil

 

A series of geopolitical events pushed prices higher by raising concern that oil supplies could be disrupted, even though no disruptions were imminent. The Obama Administration announced new sanctions against Russian energy firms after the market closed on Wednesday, including against Rosneft, Russia's biggest oil producer. While analysts say it is unlikely to cause any dip in production or exports in the short term, it could prevent or delay future exploration and production.

The crash of a Malaysian Airlines passenger plane over Ukraine — which Ukrainian officials said was shot down — raised the risk of a sharper conflict between Ukraine and Russia that could lead to even tighter sanctions against Russia. And fighting in the Gaza strip intensified after a shaky cease-fire expired, yet another source of turmoil in the Middle East, the world's most important oil-producing region.

"Although oil balances will not be impacted, it gives the oil complex another reason to inject some geopolitical risk premium," wrote energy analyst Jim Ritterbusch in a research note to investors.

The jitters about potential disruptions came on the heels of a surprisingly large decline in supplies in the U.S. On Wednesday, the Energy Information Administration said U.S. crude oil inventories fell by 7.5 million barrels to 375 million barrels in the week of July 11. The fall was more than double what analysts had expected, and reversed what had been a three-week slide in prices.

Please read more here.

"Enron: The Smartest Guys in the Room" (trailer)

 

 

Enron - one of my old stomping grounds...

Financial Times: US Shale Revolution Has Averted the Threat of a Global Oil Crisis

 

Advances in US shale have coincided with political upheaval in big oil-producing countries. Political instability in Libya, Iraq and Venezuela has stoked concerns about disruption and threats to future supplies. International sanctions on Iran have also reduced the global supply of oil, and Nigeria’s industry is plagued by theft.

Were it not for the new production in the US, which has cut the country’s imports sharply, there would probably be talk of another world oil crisis. As a global energy supplier, it is, in the words of Madeleine Albright, the former secretary of state, the “indispensable nation”.

 

Please read more in the Financial Times.

Saudi Aramco's Finance Business Line: Petroleum Engineering Planning & Performance Analyst Job

 

The selected candidate will be responsible for supporting all planning and performance management activities for the assigned business.

The analyst must be capable of managing planning and performance related activities in a dynamic portfolio of businesses and is able to adapt to changing priorities.

In addition, they will be responsible for analyzing periodic performance and for preparing the resulting management reports using plan, actual, and forecast data, thus enabling the business to actively manage performance.

Please read more here.

Trading Report: U.S. Dollar Is Now In It’s "Death Spiral"

 

 

by Michael Snyder

The power of the almighty dollar has allowed all of us living in the United States to enjoy an extremely high standard of living for decades, but as that power now fades it is going to have profound implications for the U.S. economy.  In future years the value of the dollar will go down substantially, all of the imported goods filling our stores will become much more expensive, and it is going to cost the federal government a lot more to borrow money.  Unfortunately, with the stock market hitting all-time record highs and with the mainstream media endlessly touting an “economic recovery”, most Americans are not paying any attention to these things.

French oil giant Total is one of the largest energy companies in the entire world.  On Saturday, Total’s CEO made an absolutely stunning statement.  According to Reuters, he told reporters that there “is no reason to pay for oil in dollars”…

If Russia's Gazprom’s CEO had made such a statement, it would not have really surprised anyone.  But this came from a high profile French CEO.  A decade ago, it would have been unthinkable for him to say such a thing.  Wars have been started over less.  Virtually all oil and natural gas around the planet has been bought and sold for U.S. dollars since the 1970s, and this is an arrangement that the U.S. government has traditionally guarded very zealously.  But now that Russia has broken the petrodollar monopoly, the fear of questioning the almighty dollar appears to be dissipating.

...as the Russians now rapidly move away from the U.S. dollar, they seem intent on bringing the rest of “the BRICS” with them.  The following is a short excerpt from a recent Voice of Russia article entitled “BRICS morphing into anti-dollar alliance“…

 

Of course the key economic player in the BRICS alliance is China.

So will China actually go along with a “de-dollarization” strategy?

Well, the truth is that China has been making moves to become more independent of the dollar for a long time, and it has just been announced that China and South Korea have signed an agreement which will mean more direct trade between the two nations using their own national currencies

Please read more here.

Foreign Investors Turn Eyes to North Dakota Oil Patch

 

 

WILLISTON, N.D. (AP) -- Foreign investors more familiar with projects in the emerging markets of Eastern Europe and tropical escapes of Southeast Asia are finding a new destination for their dollars and francs: Western North Dakota's oil patch that's home to booming towns, low unemployment rates and high incomes.

SelectUSA, a government foreign investment initiative, said the state has drawn at least 31 publicly announced foreign investment projects since 2003 worth a total of $1.04 billion.

Now two foreign companies are planning a pair of large oil patch developments worth $800 million.

Williston Economic Development head Tom Rolfstad said there's likely more foreign investment than what's immediately visible.

Among the latest projects is Swiss firm Stropiq's plan for a $500 million, 219-acre mixed-use development called Williston Crossing featuring 1 million square feet of retail, entertainment and hotel space along with offices and residential plots.

The oil patch is "an emerging market by most definitions, except it is in the continental U.S.," said Stropiq co-founder Terry Olin. "We have rule of law and property rights — things that in most emerging markets can be challenging."

Olin has North Dakota roots but spent the past two decades working on projects in Moscow and St. Petersburg, Russia.

Another foreign investment firm, Singapore's Barons Group of Companies, has proposed a $300 million project in Dickinson called Barons Vista that includes a mall, four-star hotel, spa, offices and condos.

Please read more here and here.

Gasoline Trader Job

 

The Gasoline Trader will be responsible for the development and promotion of gasoline trading and interacting with companies involved in the refining, distribution, transportation, storage, blending and sale of hydrocarbons. The successful candidate will have thorough knowledge and experience in trading refined products such as: Gasoline and Naphtha, including derivatives management.

Responsibilities:

  • Coordinating hedge strategies for cargoes, barges and storage to take advantage of market structure opportunities along the forward curve.
  • Sourcing of Gasoline, Naphtha and blending components.
  • Contributing to development of business contracts, including evaluation and development of new opportunities.
  • Participating in negotiations.
  • Ensuring compliance with company policy and procedure, International Commercial (Inco) Terms, pipeline specifications, New York Mercantile Exchange (Nymex), and US rules and regulations on energy trading
  • Remaining current on the legal and economic issues affecting the hydrocarbon industry.

Please read more here.

E-Quant's Energy Trading & Risk Management Bootcamp (Italy)

 

 

Quantitative Analysis and Modelling for Energy Trading & Risk Management

 

This intensive four-days bootcamp will enable you to:

  • Boost your knowledge and skills in energy markets, quantitative analysis, risk management, structuring, hedging, non-linear products
  • Simulate a wide range of energy models by developing working codes (reference will be Matlab® and R) under the guidance of expert tutors
  • Leverage financial engineering theory by practical applications of real-world
  • Apply Quantitative Analysis to Energy Trading strategies & Risk Management
  • Enjoy and benefit from the cross-disciplinary aspects and business cases

Please learn more here.

Coal Trading Job (Hong Kong & Singapore)

The firm is a leading player in the commodities space in South East Asia.

As part of their recent expansion plans, they are looking to expand their team in Hong Kong and Singapore.

They are willing to look at outstanding traders (both swap/physical) across Southeast Asia and are offering an attractive salary and bonus package.

Please read more here.

Bloomberg: Kirby McInerney Law Firm to Lead Crude Oil Manipulation Case

Kirby McInerney, based in New York, will oversee about a dozen lawsuits alleging that some of the world’s biggest oil companies, including BP Plc (BP/),Statoil ASA (STL) and Royal Dutch Shell Plc (RDSA), conspired withMorgan Stanley (MS) and energy traders including Vitol Group to manipulate spot prices for more than a decade.

Please read more here.

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