May 2023 update ($781,275 -$9,820 or -%1.2)

↑ Emerging Markets Stock Index Fund is up by $2,090 or +1.7%
↑ US 500 Stock Index Fund is up by $1,188 or +0.4%
↑ Growth fund is down by $1,737 USD or +2.7%
Total gains: $5,016

↓ Eurozone Stock Index Fund is down by $3,354 or -2.2% 
↓ Global Small Cap is down by $3,927 or 2.8%
↓ EUR to USD is down  by 2.7% for my portfolio its $7,555
Total losses: $14,835

Energy Stocks 2016

Energy Prices forecast

	2015	2016	2017	2018	2019	2020
Oil $/bbl*	54	55	60	70	86.6	88.3
Oil  $/bbl* (2015 assumptions)	60	70	75	92	95	98
Gas $/mcf	2.9	3.13	3.3	3.9	4.0	4.1
Gas $/mcf (2015 assumptions)	3.4	3.7	3.9	4.5	4.6	4.9

* Brent Oil price

mcf - hundreds cubic feet (North America, Henry Hub).  Inflation assumed at 2% a year.

March 2016 energy stocks review:

 Conversion factors:

cubic metre of gas (m3 gas) = 0.005896 boe

cubic foot of gas (cf gas)  = 0.00016696 boe

cubic foot of gas (cf gas)  = 0.028317 m3 gas

tonne of LNG (t LNG) = 1,368.40 m3 gas

Energy Stocks Screening

Energy Prices forecast

* Brent Oil price

mcf - hundreds cubic feet (North America, Henry Hub).  Inflation assumed at 2% a year.

May 2015 Analysis major Oil and  Gas Companies stocks analysis:

* Gazprom has big exposure to one country only - Russia

** proposed

Energy Stocks Screening

Energy Prices forecast*

	2012	2013	2014	2015	2016	2017
Oil $/bbl (Brent)	112	109.5	101	99.5	96	92
Oil $/bbl (WTI)	94.2	98	94.4	93.1	89.5	85.5
Gas $/mcf	2.8	3.7	4	4.15	4.6	5

*The prices are in 2013 money

mcf - hundreds cubic feet.

The prices are a little bit  higher from the previous forecast, either because inflation projected to be much higher or demand stronger.

May 2014 major Energy Companies analysis:

Remaining Reserves	Gazprom*	Exxon Mobil	PetroChina	Shell	Chevron	BP	ENI	Total	Statoil	Rosneft
Oil, mmbbl	11,940	19,700	15,430	13,650	14,220	16,500	6,560	10,190	8,030	42,120
Gas, bcf	547,980	131,620	79,000	83,160	86,500	72,250	35,300	58,950	46,440	71,550
Total, mmboe	100,040	41,630	28,600	27,500	28,700	28,530	12,440	20,000	15,770	52,300
Production Oil, mmboe	990	2,200	2,560	1,540	1,730	2,014	830	1,170	960	4,190
Production Gas, mmscfd**	47,100	11.820	7,680	9,600	5,190	7,020	4,320	6,180	4,740	3,780
Production Total             '000 boe/d	8,830	4,170	3,830	3,150	2,600	3,100	1,550	2,200	1,750	4,860
Reserves, years	31	27	20.5	24	30	25	22	25	25	29
Market Capitalization, USD bn	89	430	222	246	235	150	94	161	93	69
Dividends paid in 2013, %	5.4	2.5	4.5	4.5	3.2	4.5	5.8	4.8	3.9	3.8
US/boe	0.89	10.3	7.8	8.9	8.2	5.25	7.6	8.05	5.90	1.31

* Gazprom has big exposure to one country only - Russia

** 6mscf -1boe