Twitter round-up: Jason Bordoff’s tweet on Saudi Arabia emerging stronger amid the oil crash most popular tweet in Q2 2020

29 August 2020 (Last Updated August 29th, 2020 11:24)

Verdict lists ten of the most popular tweets on exploration in Q2 2020 based on data from GlobalData’s Influencer Platform.

Twitter round-up: Jason Bordoff’s tweet on Saudi Arabia emerging stronger amid the oil crash most popular tweet in Q2 2020

The top tweets were chosen from influencers as tracked by GlobalData’s Influencer Platform, which is based on a scientific process that works on pre-defined parameters. Influencers are selected after a deep analysis of the influencer’s relevance, network strength, engagement, and leading discussions on new and emerging trends.

Top tweets on exploration in Q2 2020

1. Jason Bordoff’s tweet on Saudi Arabia emerging stronger among other oil nations

Jason Bordoff, founding director of the Center on Global Energy Policy at Columbia University, tweeted on how the oil crash may not impact all oil nations equally. The article notes that Saudi Arabia may become stronger both economically and geopolitically after the crisis.

Saudi Arabia has sufficient fiscal reserves, which along with a low debt to GDP ratio, enables it to borrow as much as $58bn in 2020. Once the demand and price of oil returns to normal, Saudi Arabia’s market share will rise and further increase the country’s revenues.

Username: Jason Bordoff

Twitter handle: @JasonBordoff

Retweets: 1,011

Likes: 1,376

2. Kees van der Leun’s tweet on greenhouse gas emissions

Kees van der Leun, director of Guidehouse, a consulting firm, tweeted on the rising greenhouse gas emissions from the US Permian basis. Data from European Union Space Agency’s TROPOMI satellite indicates that oil and gas producers in the Permian basin are leaking 3.7% of gas that they producing.

The amount of gas leakedis sufficient to meet the annual needs of two million US households. The influencer further noted the gas leakedis much worse than coal in emitting greenhouse emissions and goes against the claims that natural gas is a cleaner fuel.

Username: Kees van der Leun

Twitter handle: @Sustainable2050

Retweets: 101

Likes: 131

3. Marianna Párraga’s tweet on Latam oil producers

Marianna Párraga, an energy correspondent at Thomson Reuters, shared an article on Latin American oil producers. The article notes that the price of U.S. West Texas Intermediate oil fell to -$40 per barrel due to supply gut and collapse in oil demand caused by the pandemic. As a result, Brent crude futures plunged by 25%, which is the lowest ever witnessed in two decades.

Mexico, Venezuela and Ecuador are worst hit countries by oil slump as their grades are indexed to US crude grades, the article further noted.

Username: Marianna Párraga

Twitter handle: @mariannaparraga

Retweets: 87

Likes: 107

4. Summer Said’s tweet on reduction in oil production

Summer Said, an OPEC reporter at Wall Street Journal, tweeted on Russian Energy Minister Alexander Novak’s estimation on total reduction in oil production per day globally. Novak estimates that non-OPEC along with countries such as the US, Canada, Brazil, Norway and Malaysia will cut oil production by five million barrels per day between May and June.

Novak further noted the total reduction by OPEC plus and G20 allies will amount to 15 million barrels a day.

Username: Summer Said

Twitter handle: @summer_said

Retweets: 86

Likes: 170

5. Clifford Krauss’s tweet on agreement between oil producing nations to cut production

Clifford Krauss, an energy correspondent at New York Times, shared an article on tentative agreement by oil nations to slash oil production by 9.7 million barrels a day between May and June to stabilise the supply gut and collapsed demand. The production cut was the largest ever negotiated by oil producing nations.

The level of production cuts, however, may not be sufficient to deal with the surplus as demand has declined by 35% since the start of the pandemic, the article noted.

Username: Clifford Krauss

Twitter handle: @ckrausss

Retweets: 63

Likes: 147

6. Anas Alhajji’s tweet on US ban on Saudi crude oil imports

Anas Alhajji, an energy economist and researcher, tweeted on the ban imposed by the US on crude oil imports from Saudi Arabia. The ban was issued to raise oil prices but is expected to have unintended consequences.

Alhajji noted that the crude carriers will not travel back but rather carry the oil to other markets such as India and other nearby destinations. Further, the ban on crude carriers will mean that they will not be able to carry oil produced in the US to Asia leading to lower exports and lower prices for the US.

Username: Anas Alhajji

Twitter handle: @anasalhajji

Retweets: 61

Likes: 166

7. Anjli Raval’s tweet on US crude oil price slump

Anjli Raval, an energy correspondent at Financial Times, tweeted on crude oil price declining by more than 40% to$10.34 per barrel. The price slump is the lowest since 1986, Anjli noted.

Username: Anjli Raval

Twitter handle: @AnjliRaval

Retweets: 68

Likes: 215

8. Amy Harder’s tweet on Google ending partnership with oil and gas firms

Amy Harder, an energy and climate change reporter at Axios, shared an article on Google ending its partnership with oil and gas firms on the development of AI oil extraction projects. Google had entered into a contract with Total to develop customised AI and Machine learning tools to facilitate upstream oil and gas extraction in 2018.

Google’s decision is expected to put pressure on Microsoft and Amazon to end such deals with oil and gas producers.

Username: Amy Harder

Twitter handle: @AmyAHarder

Retweets: 34

Likes: 90

9. Robin Mills’s tweet on shut-in of oil wells due to production cuts

Robin Mills, CEO of Qamar Energy, an energy consulting firm, tweeted on the confusion over why shut-in wells cannot be restarted. He noted that the wells cannot be restarted because the reservoir loses pressure but because it is producing oil or gas or water to the surface.

Robin added that reservoir pressure actually increases during shut-in but the wellbore may become blocked with water, and sand. He noted that shut-ins are expected to lead to loss of some production permanently.

Username: Robin Mills

Twitter handle: @robinenergy

Retweets: 30

Likes: 90

10. Neil Hume’s tweet on crude oil contracts and margin losses

Neil Hume, an editor at Financial Times, shared a statement issued by Interactive Brokers Group, a brokerage firm on crude oil contracts and margin losses. The statement details the impact of the crash in West Texas Intermediate Crude Oil contract prices on its customers.

The company noted that it has incurred a provisionary loss of approximately $88m due to the price crash.

Username: Neil Hume

Twitter handle: @humenm

Retweets: 45

Likes: 137