⚡️ How much could Chevron stock tumble?
A storm in Black sea stopped all $CVX oil exports from #Kazakhstan.
It turns out that 30% of Chevron oil production was heavily reliant on Russian #oil transportation system, which makes $CVX expose to russian risks.
Thread 🧵👇
A storm in Black sea stopped all $CVX oil exports from #Kazakhstan.
It turns out that 30% of Chevron oil production was heavily reliant on Russian #oil transportation system, which makes $CVX expose to russian risks.
Thread 🧵👇
CPC transports oil from northwestern part of #Kazakhstan to Novorossiysk for further transportation by sea.
During 2021, CPC transported an average of 1.3 mn barrels of crude #oil per day, composed of 1.1 mn barrels per day from Kazakhstan (~75% of Kazakhstan's exports).
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During 2021, CPC transported an average of 1.3 mn barrels of crude #oil per day, composed of 1.1 mn barrels per day from Kazakhstan (~75% of Kazakhstan's exports).
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Due to storm in Black Sea, oil loading at sea terminal of Caspian Pipeline Consortium near Novorossiysk was completely stopped. Pumping of #oil through CPC system is still going on, but tank farm will be full by the evening, after which it will stop.
kommersant.ru/doc/5270959?fr…
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kommersant.ru/doc/5270959?fr…
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🛢 The Caspian Pipeline Consortium faced unscrupulous behavior of partners who refused to supply components for the TLU, the head of the company said. That is why the repair may take 1.5 months - until the end of April. And all this time the shipment will be frozen. #OOTT
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Theoretically, part of the #oil can go through another Atyrau – Samara oil pipeline through #Russia. However, its technical feasibility and availability of free capacity are questionable. #OOTT
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Deliveries are falling from fields in #Kazakhstan, their shareholders are foreign #oil companies:
🇺🇸 Tengiz: #Chevron owns 50%, #ExxonMobil - 25%. $XOM
🇺🇸 Karachaganak: $CVX owns 18%.
🇺🇸🇳🇱🇫🇷 Kashagan: Exxon, #Shell and #Total each own 17% of the project. $SHEL $TTE
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🇺🇸 Tengiz: #Chevron owns 50%, #ExxonMobil - 25%. $XOM
🇺🇸 Karachaganak: $CVX owns 18%.
🇺🇸🇳🇱🇫🇷 Kashagan: Exxon, #Shell and #Total each own 17% of the project. $SHEL $TTE
6/10
Most exposed to CPC failure is #Chevron:
• All of Tengizchevroil’s 2021 crude #oil production was exported through CPC pipeline.
• Most of the exported liquids from Karachaganak Field were transported through the CPC pipeline during 2021.
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• All of Tengizchevroil’s 2021 crude #oil production was exported through CPC pipeline.
• Most of the exported liquids from Karachaganak Field were transported through the CPC pipeline during 2021.
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TCO (Tengiz) is the crown jewel of #Chevron
• 22% of net proved reserves of liquids
• 15% of net liquids production
• 18% profit (TCO in 2021 brought $CVX $2.8 of profit
Source: chevron.com/-/media/shared…
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• 22% of net proved reserves of liquids
• 15% of net liquids production
• 18% profit (TCO in 2021 brought $CVX $2.8 of profit
Source: chevron.com/-/media/shared…
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Oil companies that have assets in the Russian Federation:
$BP and #Total since the beginning of the year +0-10%
and #Chevron +41%... $TTE #OOTT
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$BP and #Total since the beginning of the year +0-10%
and #Chevron +41%... $TTE #OOTT
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The storm stopped 75% of #Kazakhstan's oil exports to the West, which was supposed to replace #Russia's Urals.
Chevron, an #oil producer whose transportation system is heavily reliant on Russia, will be hit the hardest in this story. $CVX
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Chevron, an #oil producer whose transportation system is heavily reliant on Russia, will be hit the hardest in this story. $CVX
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