Reminder: Valero Management Zoom tomorrow + some bonus feedback

By Paul Sankey Published on February 7, 2024 at 5:18 PM

Tomorrow Thursday 8th Feb 2024 morning Zoom continuation of our early January refining conference:  Valero management team vs Paul Sankey; Full Valero management team led by CEO Lane Riggs Thursday, February 8th  10AM ET Valero (VLO) Virtual 2024 Sankey Refining Conference – Valero [ptm.sankeyresearch.com] Or just RSVP to this email ~ Some bullets on chat from clients this week: Interest in ConocoPhillips into the print tomorrow: capex capex capex Willow risk; and North American growth. Clients are concerned…

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California write-downs: Chevron, ExxonMobil, and Brangelina

By Paul Sankey Published on January 13, 2024 at 11:41 AM

This year started with massive writedowns from both Chevron and ExxonMobil in California. You don’t need to read the all-time classic of industry literature, “Oil!”, by Upton Sinclair (nor watch the classic film “There Will Be Blood” which is based on the book) to know there is a long and storied history of oil in California. In this note we write brief histories that led to the write-downs. Spoiler alert, we start with the conclusions,…

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