After ConocoPhillips (COP) sold its oil sands business to Cenovus earlier today, COP might be getting ready for a tilt at one of the big Southern Hemisphere O&G plays such as STO, ORG or WPL.
POO is also up over $50 and given the inventory figure, break of OPEC reductions by Saudi and Russia. a.k.a. the former Soviet Union, it does not look likely that the supply will be able to exceed demand with all the geopolitical risk around.
LNG will be needed by the P.R.C. and elsewhere in Asia such as India as pollution statistics are so significant in Beijing, Shanghai, Delhi that it is amazing major health issues are not arising.
Quite a bullish sentiment for STO at the moment.
STO Price at posting:
$3.83 Sentiment: Buy Disclosure: Held
(20min delay)
