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According to Saudi media Alhadath, the Houthi rebels in Yemen attacked a key facility in Harikia, near the Bab el-Mandeb Strait, with two ballistic missiles.Turkeys Foreign Minister stated that an alliance against Turkey exists in the region. Israel, the Greek Cypriot government, and Greece have previously established a security alliance in the Mediterranean, "drawing a line along the Mediterranean median." Turkeys alliance is not directed against any particular country, but rather aims to strengthen cooperation and deterrence.Turkish Foreign Minister: Turkey expects the United States to exert the necessary pressure on Israel, otherwise Turkey, Qatar and Egypt will have no choice but to take radical measures on this issue, which is their responsibility to their country, people and Palestinians.On August 14th, it was reported that AI unicorn Anthropic is preparing for a potentially record-breaking IPO, holding initial meetings with potential investors. According to sources, the talks are currently focused on macro-level issues and have not yet touched on specific financial data or valuation. Anthropics CFO, Krishna Rao, is leading the meetings, which primarily revolve around the Claude AI model series, the Claude Code programming assistant, the companys market positioning, management team, and product iteration. The company secretly filed for listing with the U.S. Securities and Exchange Commission in June but has not yet announced a formal IPO timeline. Anthropic completed a financing round at the end of May this year, reaching a valuation of $965 billion, higher than OpenAIs valuation of $852 billion at the same time; the company disclosed that its annualized revenue run rate has exceeded $47 billion. Some investors expect its IPO valuation to reach $2 trillion, but this is not the companys official target. In the competitive arena, OpenAI has also secretly filed for listing but has not yet started pre-IPO investor meetings.The Federal Reserve accepted a total of $450 million from one counterparty in its fixed-rate reverse repurchase operations.

How to prevent a severe shortage of oil supply? Moody's: The drilling budget of the exploration company is at least this number

Oct 26, 2021 11:02

According to data from the three major international credit ratings Moody's Investor Services, the upstream annual investment plummeted by about 30% in 2020, and has since rebounded only slightly. Oil exploration companies need to increase their drilling budget by 54% to more than $500 billion to prevent severe supply shortages in the next few years.

Crude oil and natural gas drillers have suffered from unprecedented demand and price drops last year, but they have not expanded their search for undeveloped oil fields as the industry usually does, and have responded to the recent market rebound.

Moody's stated in a report last week that although international crude oil and US natural gas have increased by 50% and 120% respectively this year, global drilling expenditures are expected to grow only by 8%.

Moody's analyst Sajjad Alam wrote in the report that this figure is too small to replace the oil that these companies will extract from the ground in 2022, thereby laying the foundation for a more tight supply scenario. Any such austerity will be on top of the current crises that plague Asian and European economies. As winter approaches, prices are breaking records almost every day, and they are busy supporting fuel reserves. The industry will need to increase spending significantly, especially if oil and gas demand continues to rise by 2025, exceeding pre-epidemic levels.

Moody's quoted estimates from the International Energy Agency that oil and gas companies are expected to spend $352 billion on drilling and related activities this year. If they increase to the recommended $542 billion, it will be the highest in the world since 2015.

On Monday (October 11), U.S. crude oil prices continued to soar, setting a new high in the past seven years, while Bulu oil hit a three-year high. How long can oil be hot? Industry insiders believe that there is a lot of demand for oil heating in winter, the oil market (OPEC) increased production as originally planned, and the European and American energy crisis hits, resulting in strong expectations for oil prices in October. However, the fourth quarter is generally optimistic about oil prices. It should be noted that there may be some The risk of a callback.

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