Report
Ahmed Ben Salem

ODDO : IEA: easing of the situation but risks on demand (trade war) and supply (sanctions on Iran)

>Solid growth in demand in 2018-2019 but not risk-free - The IEA maintains unchanged its demand growth estimates for 2018 at 1.4 Mb/d and has revised slightly upwards its estimates for 2019 to +1.5 Mb/d, i.e. a sustained pace. For 2018, demand growth remains driven by a robust Q1 at 1.8Mb/d, with particularly low temperatures in the northern hemisphere. For Q2 and Q3, the IEA forecasts a slowdown in the pace of growth to 1 Mb/d due to the increase in prices which st...
Underlyings
China Oil HBP Science & Technology (A)

China Oil HBP Science & Technology Co Ltd. CHINA OIL HBP SCIENCE & TECHNOLOGY CO., LTD is a China-based company, principally engaged in the provision of oil and gas exploitation services. The Company operates its businesses through three segments. The Oil and Gas Field Equipment and Engineering General Contracting segment is engaged in the provision of energy saving and environmental protection system equipment, as well as the engineering general contracting services. The Petrochemical Environmental Protection Equipment and Services segment is engaged in the provision of technical services, including automation engineering and pollutant disposal, among others. The Oil and Gas Development and Utilization segment is engaged in the investment of gas station projects and others. The Company operates its businesses in domestic and overseas markets.

Repsol SA

Repsol is an oil and gas company. Co. is engaged in all the activities relating to the oil and gas industry, including exploration, development and production of crude oil and natural gas, transportation of oil products, liquefied petroleum gas (LPG) and natural gas, refining, the production of a wide range of oil products and the retailing of oil products, oil derivatives, petrochemicals, LPG and natural gas, as well as the generation, transportation, distribution and supply of electricity. Co. operates in more than 40 countries. Co.'s operations are divided into four segments: Upstream, Downstream, LNG and Gas Natural Fenosa.

Royal Dutch Shell PLC CEDEAR

Total Gabon

Total Gabon is mainly engaged in the crude petroleum and natural gas sectors. Co. is engaged in international oil and gas exploration and production. Co. operates under licences, concession agreements, and production-sharing agreements with host nations. Co. is involved in the exploration, excavation and sale of oil and gas. Co. is also engaged in oil refining, marketing, and trading.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Ahmed Ben Salem

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