By Paul Sankey
Published on November 9, 2025 at 5:34 PM
Busy week ahead! ENI ringing the bell on the NYSE tomorrow with management comments meeting for analysts. I’m seeing if I can jump on CNBC while I am on the exchange floor. It is a TV set and bell ringing photo op these days. The traders nowadays are chips in data centers. Those guys on the floor are extras. Woodside CEO Meg O’Neill dinner on Tuesday. CVX post-Hess analyst meeting Wednesday November 12th. Happy Hours …
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By Paul Sankey
Published on October 28, 2025 at 2:23 PM
Torsten Slok, Chief Economist Apollo, published this chart Monday, we are all familiar with the theme. Source: Torsten Slok, Apollo Considering the scale “Capex Share of Operating Cashflow %” made me wonder, and caused me to recreate the chart but add the Big Oils. Given Torsten lists five Hyperscalers, I simply used five historic mega-oils, ExxonMobil, Chevron, Shell, TOTAL, and BP. Result: Source: Bloomberg, Sankey Research That certainly changes the perspective, and obviously becomes a …
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By Paul Sankey
Published on September 21, 2025 at 5:46 PM
The world seeming began to turn with a couple of comments I was making last week “Why is China storing so much oil?” that was originally included in last week’s note on global LNG over-supply, but was then saved for this week. Sure enough, Javier Blas went after the question directly in a column on Wednesday: “Why is China Stockpiling So Much Surplus Oil?” Adding to the Zeitgeist shift on oil – Peak Oil Supply …
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