By Paul Sankey
Published on June 11, 2026 at 1:01 PM
Happy Hour today with Neil McMahon is POSTPONED until 24 June, so, just a couple of weeks. And he will have been in the Middle East in the interim, so that works. Kimmeridge (for he is founding partner) has declared Final Investment Decision (FID) on Commonwealth — a 9.5 Mtpa (~1.25 bcf/d), $13bn Louisiana LNG export project with 2030 start-up — in partnership with Abu Dhabi’s Mubadala Energy and CPP Investments (24.1% and 31% of …
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By Paul Sankey
Published on June 2, 2026 at 2:19 PM
Dear Premium Subscriber, thanks so much for your support. Part of the refining bull case here is the soaring cost of Renewable Identification Numbers (RINs) and the biofuel market tightness in general. I thought Brett Gibbs of Bloomberg Intelligence did a great job of covering the story in one hour. The replay starts around 12mins in terms of actual content. Replay here: https://analysthub.zoom.us/rec/share/NhhB3zUBjgnL5ku-yC4foMLUH2YcpNH1VFCVsHb-FN3Fhj9SGs3AlXaMPyj1drq-.GM_0DATdhkRhx8jX Below, D6 and D4 RINs, not gaining much attention in terms of …
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By Paul Sankey
Published on May 31, 2026 at 7:05 PM
Amazing to watch May 2026 pass so fast, and Hormuz still all-but shut. Everybody points to June as the month in which things turn ugly in terms of tank bottoms, and price going exponentially higher seeking to destroy demand. But bottom line, prices are lower, and everyone is still merrily flying around. In this note we re-visit our JetFuel thesis – as we witness record flights, what’s the problem? We conclude that the key answer …
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