AMERICAS OIL: Vista to Stop Trucking Oil After Argentina Pipeline Expansion
Apr-24 15:18
Vista Energy, Argentina’s second largest shale oil producer, said that new pipeline expansion means it won’t need to truck any output in Q2, its CEO said in an earnings call, cited by Bloomberg.
- He added that this will help save the company costs. With falling oil prices, production costs will face greater scrutiny from the nascent shale play.
- Q2 production from Vista, following its NPV acquisition from Petronas, is seen at 110 boe/d, up 36% on Q1.
- Since new acreage is right next to Vista’s flagship area, it brings key synergies including extra transportation capacity and treatment facilities, Bloomberg said.
- “It takes the company to a different level of flexibility because now we have a bigger playground to play in,” the CEO said.
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STIR: April ECB Pricing Unfazed By Cautious Speakers
Mar-25 15:16
April ECB implied rates have been unfazed by today’s cautious/hawkish leaning Governing Council speakers, with ESTR OIS continuing to price just over a ~65% implied probability of a 25bp cut.
- Both Kazimir and Muller suggested the ECB’s deposit rate was no longer in restrictive territory, evidently not subscribing to ECB staff’s (heavily caveated) 1.75-2.25% nominal neutral range.
- Both speakers (alongside GC colleague Vujcic) noted that the April decision remains an open question.
- February lending data is due on Thursday, before the March flash inflation round kicks off with Spain and France on Friday. Expect the majority of speakers to display a non-committal tone until next Tuesday at the earliest, following the Eurozone-wide inflation print and US President Trump’s next wave of tariff announcements.
- With the exception of the April meeting, OIS-implied rates are higher on the day, tracking similar movements in Euribor implied yields and core EGBs.
OPTIONS: Expiries for Mar26 NY cut 1000ET (Source DTCC)
Mar-25 15:16
- EUR/USD: $1.0690(E912mln), $1.0775-90(E766mln), $1.0900-25(E2.3bln)
- USD/JPY: Y148.00-10($932mln), Y151.74($519mln), Y152.00($955mln)
- AUD/USD: $0.6370-80(A$699mln)
- USD/CAD: C$1.4200($556mln), C$1.4240($634mln), C$1.4500($781mln)
- USD/CNY: Cny7.2430($600mln), Cny7.3000($500mln)
MNI EXCLUSIVE: MNI speaks to Canadian industry experts
Mar-25 15:15
Canadian industry experts assess the country's chances in accessing alternative markets to the U.S - On MNI Policy MainWire now, for more details please contact sales@marketnews.com
