Newsletter No. 40
Good morning,
I’m excited to be sending you the latest edition of The Upside. Stay informed as you dive into the highlights of the oil and gas industry and King Operating Corporation.
This Week’s Headlines
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Saluting Our Heroes
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The Rice Report
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Iraqi Kurdish Oil Not Close to Resuming Exports
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Fight Waged Against Proposed Nuclear Waste Site in N.M.
Saluting Our Heroes
This Veterans Day, we stand in profound gratitude for the brave men and women who have served our nation with unwavering dedication and courage. Join us in honoring the sacrifices of our veterans, as we express our deepest appreciation for their selfless commitment to preserving freedom.
Let’s take a moment to reflect on the unyielding spirit that defines our veterans and recognize the immeasurable impact they’ve had on our lives. To all the heroes in uniform, past and present, thank you for your service and sacrifice.
You can read some amazing stories from our King team, honoring the special veterans in their lives here.
Another Episode of The Rice Report
King’s Chief Growth Officer, Eric Rice, discusses much of what’s happening with banks, the Fed, and much more in this week’s Rice Report. Watch the full video here.
Iraqi Kurdish Oil Not Close to Resuming Exports
Iraqi government officials recently met with the Kurdistan region’s petroleum association to discuss restarting crude oil flows through the Ceyhan pipeline to Turkey. The pipeline has been offline since March, causing a 400,000 barrels per day decrease in the market. Despite Turkey reopening the pipeline in October, no agreement has been reached, leading to a standoff between the Iraqi federal government and the Kurdistan Regional Government (KRG).
This political struggle is affecting foreign oil companies operating in the Kurdistan region, with the KRG warning Dana Gas from making gas transport agreements with the Iraqi government without its approval.
For oil and gas producers, this situation adds uncertainty and potential disruptions in the supply chain, highlighting the impact of political tensions on the industry.
Fight Waged Against Proposed Nuclear Waste Site in N.M.
Some major oil and gas companies in the Permian Basin are opposing a proposed nuclear waste facility in southeast New Mexico. Companies like Occidental Petroleum, Concho Resources, Diamondback Energy, and Fasken Oil and Ranch, among others, have joined the Permian Basin Coalition to oppose a nuclear waste storage facility proposed by Holtec International near Carlsbad and Hobbs.
The facility aims to store spent nuclear fuel rods temporarily and has a capacity for up to 100,000 metric tons of waste from nuclear power plants nationwide. The opposition argues that such storage should only happen when a permanent repository is available, which currently does not exist in the U.S. The letter urges federal legislation to block the proposal and highlights potential risks to the oil and gas industry in the region.
If you’d like to talk to someone about King and are an accredited investor, you can fill out your information here or schedule a Zoom conversation with one of our SVPs here and someone will reach out.
If you would like to listen to my book, “The Upside of Oil and Gas Investing,” go here. Or, if you’d like for us to send you a signed copy of my book, send your name and address to info@kingoperating.com.
In the News
Interview with KTRH News Radio in Houston about the impact of the Middle East Crisis on the Oil Market.
Recommended Reads
Insurers Are Still Backing Oil and Gas Industry Despite Rising Climate Threat
Maurel & Prom signs pact to expand Venezuela oil, gas development
BP starts 4-way battle between shipyards as it fast-tracks major oil and gas project
Thank you for your continued support, and if you have any questions for myself or any member of the King team, please don’t hesitate to reach out.
All the best,
Jay
