Virendra Chauhan
Virendra has a keen interest in the energy sector having completed a Ph.D. in Chemical Physics with a particular focus on renewable energies. His thesis was focussed on understanding the electronic properties of semiconducting materials for photovoltaic energy applications. Following the completion of his studies, Virendra spent a year on the European Oil & Gas Equity Research team at Nomura International. He has a first class degree in Chemistry from Imperial College, London before completing his Ph.D. from the University of Warwick in collaboration with Boston University where he conducted experiments at the National Synchrotron Light Source in New York on a programme funded by the US Department of Energy.
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Published 9 Jul 2013
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Published 4 Jul 2013
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Published 3 Jul 2013
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In the latest weekly EIA data, crude oil inventories drew by a substantial 10.3 mb to 384 mb, reducing the overhang to the five year average by 7.8 mb to 32.9 mb. The draw was a result of runs being up w/w by 0.4 mb/d, above 16 mb/d for the first time since July 2007, and sharply lower imports, a..
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Published 2 Jul 2013
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Preliminary data for June pegged Russian oil production at a post-Soviet era high of 10.53 mb/d, with y/y growth rates picking up to their highest levels since July 2010 at 0.22 mb/d. Gazprom's output reached a record high of 0.35 mb/d, higher y/y by 70 thousand b/d, while Rosneft's June producti..
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Published 1 Jul 2013
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Mexican May crude oil production fell to its lowest levels since September 2011 at 2.510 mb/d, with total liquids output at its lowest since October 1995, at 2.852 mb/d. This constituted a y/y decline of 72 thousand b/d, continuing with the step up in declines seen in recent months since March, c..
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Published 1 Jul 2013
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Published 28 Jun 2013
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Japanese oil demand fell y/y in May by a steeper than anticipated 0.249 mb/d (6.4%), with the weakness in fuel oil, crude burn and naphtha demand weighing on the total. At 0.698 mb/d, naphtha demand was at its weakest levels since June 2012, which was also the last time naphtha consumption fell b..
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Published 27 Jun 2013
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In the latest Petroleum Supply Monthly, US oil demand for April was revised higher by 0.118 mb/d to 18.553 mb/d, and is now higher y/y by 0.223 mb/d (1.2%). This is slightly above our expectations (0.8%), and was underpinned by large upward revisions to both gasoline and distillate figures. For t..
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Published 27 Jun 2013
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US liquids production for April experienced strong m/m growth by 0.25 mb/d to 10.677 mb/d, the highest levels since February 1986, with the y/y growth rate rising back above 1 mb/d to 1.044 mb/d. Crude output averaged 7.353 mb/d, the highest since February 1992, higher y/y by 1.054 mb/d. NGLs out..
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Published 27 Jun 2013
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Preliminary May crude output data for the UK released today showed a y/y decline of 0.1 mb/d (11.6%) to 0.78 mb/d, despite the month being broadly disruption free. There was only a small outage at Buzzard due to a release of steam at the complex on 30 April that continued into the first two days..
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Published 26 Jun 2013
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The latest weekly EIA statistics showed crude stocks broadly unchanged w/w, although the overhang to the five-year average increased by 2.4 mb. Crude stocks are currently 42.2 mb above the five-year average, the largest overhang since early March. While refinery runs experienced another seasonal..
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Published 25 Jun 2013
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Fundamentals is our monthly review of global oil data, this is the June edition Global oil demand picked up in May and was revised higher for April, as the adverse weather effects in Europe and in OECD Asia Pacific started to ease, with May y/y growth at 0.8 mb/d, while April's y/y demand growth..
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Published 24 Jun 2013
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A significant turnaround of events last week has opened the doors for Brent towards $100 and below. The current bout of panic has come about due to speculation about the potential ending of quantitative easing measures by the US Federal Reserve and weak economic data together with a spike in benc..
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Published 21 Jun 2013
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South Korean oil demand eased slightly in May from the sharp bounce experienced in April, lower y/y by 48 thousand b/d (2.2%) at 2.170 mb/d. The decline in May was led by falling demand for fuel oil, which fell y/y by 49 thousand b/d to 0.101 mb/d, its lowest level since September 2012. Naphtha d..
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Published 21 Jun 2013
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Chinese apparent oil consumption totalled 9.518 mb/d in May, higher y/y by 0.139 mb/d (1.5%), with apparent consumption the lowest since August 2012. China continued to destock, however, and as a result, underlying demand growth was higher, at around 0.3-0.35 mb/d, but slightly lower than our ini..
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