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☆ How to play the energy rally
▼ + stars: | 2024-03-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow to play the energy rallyRob Thummel, Tortoise senior portfolio manager, joins 'Squawk on the Street' to discuss which companies benefit from higher commodity prices, the underlying efforts to curb carbon emissions, and the United States' need for power.

Persons: Rob Thummel Organizations: Tortoise Locations: United States

☆ US oil is back, and ExxonMobil's $60 billion deal isn't even the biggest signal
▼ + stars: | 2023-10-15 | by ( Tim Mullaney | ) www.cnbc.com time to read: +8 min

The news came a day after a $60 billion deal between Exxon Mobil and independent oil producer Pioneer Natural Resources . Monthly production topped out at 13 million barrels per day in November 2019 and hit 9.9 million by February 2021. And offshore oil drilling in the Gulf of Mexico recovered to 2 million barrels a day, but hasn't grown. Where oil companies have been spending their money U.S. oil companies cut capital spending to $106.6 billion last year from $199.7 billion in 2014, according to Statista, contributing to the decline in oil production and arguably delaying the recovery. According to Energy Department data, oil and gas companies paid out about $75 billion per quarter in the last year.

Persons: Brittany Sowacke, Rob Thummel, hasn't, what's, Thummel, Alexandre Ramos, Jay Hatfield, doesn't, Baker, Hughes, Darren Woods, Woods, Hatfield, Ramos, Peon, aren't Organizations: Bloomberg, Getty, Energy, U.S . Department of Energy, Exxon Mobil, Natural Resources, Wall, Exxon, Big Oil, America, Rystad Energy, Oil, Infrastructure Capital Advisors, Energy Department, Pioneer, CNBC, Chevron, PDC Energy, Noble Energy, Independent, Global, ExxonMobil, OPEC, Iran Locations: Midland , Texas, Brittany, Kansas City, Mo, U.S, Oklahoma, North Dakota, Alaska, Gulf, Mexico, Texas, New Mexico, Colorado, New York, American, Hatfield, Israel, Iran

☆ Oil consolidation makes sense to 'continue to lower the cost of production': Tortoise's Rob Thummel
▼ + stars: | 2023-10-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOil consolidation makes sense to 'continue to lower the cost of production': Tortoise's Rob ThummelRob Thummel, Tortoise senior portfolio manager, joins 'Squawk Box' to discuss Exxon Mobil's acquisition of Pioneer Natural Resources, why the deal could open the door for more consolidation in the oil and gas sector, and more.

Persons: Rob Thummel Rob Thummel Organizations: Tortoise, Exxon, Natural Resources

Unlike Russia, one of the world's top oil and gas producers, Israel has very modest energy production. But there is a risk the war could spread to major energy producers in the Middle East and affect oil and gas flows. Second, a deal being brokered by Washington to normalise relations between Saudi Arabia and Israel, which could see the kingdom increase oil output, could be derailed. Saudi Arabia told the White House it is willing to boost oil production early next year to help secure the deal, the Wall Street Journal reported last week. Russian Deputy Prime Minister Alexander Novak added on Thursday that current oil prices factored in the conflict and reflected the market's belief that risks posed by the clashes were not that high.

Persons: Dado Ruvic, Brent, David Goldwyn, Rob Thummel, Janet Yellen, Iranian Oil Minister Javad Owji, Joe Biden, Helima Croft, Biden, Ben Cahill, Prince Abdulaziz, Alexander Novak, Vladimir Putin, Natalie Grover, Ahmad Ghaddar, Alex Lawler, Laura Sanicola, Kirsten Donovan, Cynthia Osterman Organizations: REUTERS, Hamas, U.S . State Department, Tortoise, Iran, U.S, Treasury, Iranian Oil Minister, RBC Capital Markets, Macquarie, SAUDI, Israel, Wall Street, Washington, Strategic, International Studies, Saudi Arabia's Energy, CNBC, OPEC, Organization of, Petroleum, Thomson Locations: Israel, Ukraine, Russia, U.S, Iran, Hormuz, Washington, Saudi Arabia, Strait, Riyadh, Moscow, United States, Tehran, Washington . Saudi Arabia, Saudi, OPEC, London, New York

☆ The economy will continue to see higher oil prices, says Tortoise's Rob Thummel
▼ + stars: | 2023-10-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe economy will continue to see higher oil prices, says Tortoise's Rob ThummelRob Thummel, Tortoise Ecofin senior portfolio manager, joins 'Power Lunch' to discuss oil prices sliding and what it means for the energy sector.

Persons: Rob Thummel Rob Thummel, Tortoise

☆ Decarbonizing has tremendous growth potential for energy infrastructure, says Tortoise's Rob Thummel
▼ + stars: | 2023-09-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDecarbonizing has tremendous growth potential for energy infrastructure, says Tortoise's Rob ThummelRob Thummel, Tortoise Ecofin senior portfolio manager, joins 'Squawk on the Street' to discuss rising energy oil prices due to the output cut extension, oil prices influencing energy investment decisions, and companies building carbon capture infrastructure.

Persons: Decarbonizing, Rob Thummel Rob Thummel, Tortoise

☆ A.I. boom will lead to opportunities in energy infrastructure, says TortoiseEcofin's Thummel
▼ + stars: | 2023-08-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailA.I. boom will lead to opportunities in energy infrastructure, says TortoiseEcofin's ThummelRob Thummel, TortoiseEcofin senior portfolio manager, joins 'Squawk on the Street' to discuss Thummel's energy positioning, what specifically in energy infrastructure Thummel is interested in, and how weather patterns have affected the energy sector.

Persons: TortoiseEcofin's, Rob Thummel

☆ Oil prices likely to rise in second half of year: Portfolio manager
▼ + stars: | 2023-07-31 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOil prices likely to rise in light of undersupply in the second half of the year: Portfolio managerRob Thummel, managing director of Tortoise Ecofin, says U.S. oil production is unlikely to rise "as much as what everybody thinks."

Persons: Rob Thummel, Tortoise Ecofin Locations: U.S

☆ Declines in inventory and undersupply will be a catalyst for oil this year, says Tortoise's Thummel
▼ + stars: | 2023-07-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDeclines in inventory and undersupply will be a catalyst for oil this year, says Tortoise's ThummelRob Thummel, Tortoise Ecofin senior portfolio manager, joins 'Squawk on the Street' to discuss why energy is poised for a good second half of the year, how long it will take his thesis to work its way through the market, and more.

Persons: Tortoise's, Rob Thummel, Tortoise

☆ Nat gas prices likely to remain weak short-term, says EQT CEO Toby Rice
▼ + stars: | 2023-04-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNat gas prices likely to remain weak short-term, says EQT CEO Toby RiceEQT CEO Toby Rice, and Rob Thummel, senior portfolio manager at Tortoise Capital, join CNBC's "The Exchange" to discuss OPEC's surprise production cut.

☆ Buying the dip on energy stocks? Wall Street pros name their top picks
▼ + stars: | 2023-03-28 | by ( Zavier Ong | ) www.cnbc.com time to read: +3 min

Energy was the second-best-performing sector of the S & P 500 last week, as investors flocked back into the stocks amid a recent dip in oil prices. Thummel also likes two energy infrastructure stocks — Cheniere Energy and Energy Transfer . He likes Viper Energy Partners , which owns a royalty portfolio of oilfield assets. "Viper Energy has one of the largest backlogs of tier-one locations in the [Permian] basin. Viper Energy is thus able to leverage improving energy prices while having "strong" downside support, according to Davolos.

☆ Global oil demand in 2023 is expected to hit a record high, portfolio manager says
▼ + stars: | 2023-03-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGlobal oil demand in 2023 is expected to hit a record high, portfolio manager saysRob Thummel, senior portfolio manager and managing director at Tortoise, says oil demand from Asia, particularly China, is expected to accelerate this year.

☆ U.S. has solidified itself as a global affordable energy provider, says Tortoise Capital's Rob Thummel
▼ + stars: | 2023-03-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S. has solidified itself as a global affordable energy provider, says Tortoise Capital's Rob ThummelRob Thummel, portfolio manager at Tortoise Capital Advisors, joins 'The Exchange' to discuss uncertainty in the banking sector, a sharp decline in commodity prices and the U.S. energy outlook.

☆ ExxonMobil, Chevron's big cash shows cheap gas isn’t coming back
▼ + stars: | 2023-02-01 | by ( Tim Mullaney | ) www.cnbc.com time to read: +6 min

Big oil sees political pushback on buybacksFuel prices at a Chevron gas station in Menlo Park, California, on Thursday, June 9, 2022. In the market, and at the oil companies headquarters, it seems the opinions issued from the White House aren't much of a factor in setting financial priorities. The benchmark now is to spend roughly a third of operating cash flow on capital investment, a third on dividends and a third on stock buybacks. Exxon made $76.8 billion in operating cash flow, invested $18 billion back into the business, spent $14.9 billion on dividends and $15.2 billion in stock purchases, according to its cash flow statement. Oil production is increasing

☆ U.S. oil refining margins hit 3-month high as plant outages rise
▼ + stars: | 2023-01-25 | by ( Shariq Khan | ) www.reuters.com time to read: +2 min

Jan 24 (Reuters) - U.S. oil refining margins on Tuesday hit a three-month high and are likely headed higher, analysts said, as unplanned refinery outages weigh on already-tight fuel supplies. The outages have pushed up gasoline prices in Texas and Oklahoma this year ahead of what is expected to be a heavier than usual turnaround season for refineries. The rising prices and margins are unusual for this time of year, when travel falls. Average gasoline prices in Texas hit about $3.07 a gallon on Tuesday, up almost 44 cents from a month ago, according to the AAA motor group. A diesel producing unit at PBF Energy's (PBF.N) Chalmette, Louisiana, refinery was shut following a fire on Saturday.

☆ Oil prices will likely rise in 2023 as China reopens, says Tortoise's Rob Thummel
▼ + stars: | 2022-12-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOil prices will likely rise in 2023 as China reopens, says Tortoise's Rob ThummelRob Thummel, Tortoise senior portfolio manager, joins CNBC's 'Squawk Box' to discuss the moves in energy prices as China moves to reopen its economy.

☆ China's reopening is a bigger driver for oil prices than cap on Russian crude, Singapore foreign minister says
▼ + stars: | 2022-12-07 | by ( Charmaine Jacob | ) www.cnbc.com time to read: +1 min

watch nowChina's reopening after the pandemic will be a bigger driver for oil prices than the cap on Russian oil, Singapore Minister of Foreign Affairs Vivian Balakrishnan told CNBC on Tuesday. "Now that has profound implications for the global economy, more so than an oil price cap." Balakrishnan's comments come after the Group of Seven's $60 price cap for Russian seaborne oil and ban on Russian crude took effect Monday. Oil prices climbed in Asia trading Monday after China, the world's largest oil importer, signaled further easing of Covid-19 measures. "The factor that will drive [China's oil] demand higher ... will be obviously the reopening of the economy, but more importantly, building an inventory," he said.

☆ Portfolio manager says he's bullish about oil prices
▼ + stars: | 2022-12-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPortfolio manager says he's bullish about oil pricesRob Thummel of Tortoise Capital discusses the factors that will push oil prices up in 2023.

☆ Infrastructure development is crucial for energy security, says Tortoise portfolio manager
▼ + stars: | 2022-12-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInfrastructure development is crucial for energy security, says Tortoise portfolio managerRob Thummel, Tortoise portfolio manager, joins 'The Exchange' to discuss investment opportunities in the U.S. energy sector, the crucial role of infrastructure in the energy transition and the global energy trade.

"I remember reading a book once called, 'Sacred Cows Make the Best Burgers,'" Poirier said at the company's investor day. Calgary, Alberta-based TC is widely known for its Keystone oil pipeline, a critical artery for moving Canadian oil to U.S. refiners that dominated headlines over the past decade for an expansion that ultimately failed. Keystone could fetch TC C$12.8 billion, said CIBC analyst Robert Catellier in a note. He added that reducing TC's oil exposure would help it reach its emissions-reduction goals. TC's stake in the Millennium natural gas pipeline in New York state is another logical sale candidate and could fetch $1 billion, said Scotiabank analyst Robert Hope.

☆ Oil markets are facing a demand concern, says CIBC's Rebecca Babin
▼ + stars: | 2022-10-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOil markets are facing a demand concern, says CIBC's Rebecca BabinRob Thummel, Tortoise portfolio manager, and Rebecca Babin, CIBC Private Wealth senior energy trader, join CNBC's 'Squawk Box' to break down where investors can find opportunities in the energy sector.

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