67 WALL STREET, New York - November 25, 2012 - The Wall Street Transcript has just published its Oil and Gas Investing Forecast Report offering a timely review of the sector to serious investors and industry executives. This special feature contains expert industry commentary through in-depth interviews with public company CEOs, Equity Analysts and Money Managers. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.

Topics covered: Global Oil & Gas Investing

Companies include: China Petroleum & Chemical Cor (SNP), PetroChina Co. Ltd. (PTR), CNOOC Ltd. (CEO), Valero Energy Corp. (VLO), Exxon Mobil Corp. (XOM), Chevron Corp. (CVX), BP plc (BP), Enersis S.A. (ENI), Total SA (TOT), Helix Energy Solutions Group, (HLX), Peabody Energy Corp. (BTU), Cameco Corp. (CCJ) and many others.

In the following excerpt from the Oil and Gas Investing Forecast Report, an experienced portfolio manager discusses the outlook for the sector for investors:

Mr Guinness: Rather surprisingly to us, the U.S. refining industry has really turned itself around. It was beaten down by the recession, but now exports to Latin America have been surging. Also, the refiners have had a windfall because of the divergence that has emerged between WTI and Brent due to the interesting success in development of shale oil in the Eagle Ford and the Bakken basins and now the Permian basin. The Permian and the Bakken are basically feeding oil into Cushing, which is where the WTI benchmark is set. There are not enough pipelines to get these increases in supply down to the coast so WTI is depressed relative to the oil price at the coast, which tends to track Brent. Refineries that are able to access WTI are enjoying a good, albeit temporary, boost to their margins.

We are also interested in the growth in gas demand in China, which is going to be very strong over the next eight years. We believe that Chinese consumption of natural gas is going to go from 10 Bcf today to 40 Bcf a day by 2022. To put that into context, the U.S. today consumes 70 Bcf per day, so China only consumes one-seventh of what the U.S. does. Now in terms of oil, China consumes about 10 million barrels a day, which is about half the U.S. As far as coal goes, China consumes two and a half times as much coal as the U.S does.

These different proportions in China's consumption of gas, oil and coal relative to the U.S. highlight imbalances that are going to unwind. And as this happens, the amount of gas they consume will rise exponentially. It has been rising from a very low base for the last 12 years, at about 17% per annum, and that is going to continue. One of the stocks involved with this that we like is PetroChina, and we are now looking quite hard to see if there are other stocks we can invest in to benefit from this development.