Virendra Chauhan holds a PhD in Chemical Physics from Imperial College, with a focus on renewable energy. Following the completion of his studies, Virendra spent 18 months on the European Oil & Gas Equity Research team at Nomura International, before joining Energy Aspects in 2012. Virendra's work at Energy Aspects centres on crude markets. He analyses global supply demand fundamentals, with a particular emphasis on the upstream and shale. He also examines the impact of US shale on oil markets, trade flows and benchmarks, producing analysis that is regularly referenced by leading media outlets. His research covers specialist areas such as the economics of shale oil for independent US producers. More broadly, he reviews the potential for shale oil on a global scale, applying data-rich analysis to wider developments in the energy market.
Norwegian liquids production rose m/m by 64 thousand b/d to 1.91 mb/d in July, but this was still lower y/y by 87 thousand b/d and 2.5% lower than forecast by the NPD. While the NPD attributes the poor performance to technical problems, we interpret the output level as a step-up in underlying dec..
In the last seven days the key agency forecasts have been published. EIA published STEO last Tuesday, IEA published OMR on Friday and OPEC it’s MOMR this morning.The latest key agency reports were a mixed bag. While the EIA sharply reduced its overinflated global (and US) non-OPEC supply es..
Brazilian liquids production fell by 11 thousand b/d m/m to 2.71 mb/d in June, lower y/y by 88 thousand b/d. Maintenance at FPSO Cidade de Paraty in the pre-salt weighed, while Campos basin output fell y/y again, by 0.19 mb/d, despite registering its first m/m gain this year. Across H1 18, crude..
Russian oil production in July rose by 0.14 mb/d m/m to 11.21 mb/d, higher y/y by 0.26 mb/d. We expect output to stabilise at these levels through H2 18. According to Russian energy minister Alexander Novak, output excluding NGLs will average 11.02 mb/d in 2018 and 11.1 mb/d in 2019, though actua..