By Paul Sankey
Published on December 15, 2024 at 4:28 PM
*** Save the Date *** Sankey Research 12th annual January Refining Conference 2025 6th January (primary) & 9th January Virtual, details to follow. All major US independent refiners will be represented at C-level ~ Poof! Just another week in 2024, as drone swarms over NJ knocked the CEO assassin off the front pages. This is the last full market week of the year, and what a year. The latest “what the?” 2024 moments, are just …
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By Paul Sankey
Published on November 16, 2024 at 3:33 PM
In this note we outline the bear case for the UK North Sea, and for APA (formerly Apache Oil) with a price target of $15 on APA (stock closed Friday at >$22) “before we get interested”. We postulate takeover and activist strategy at the end of this note. We slam the UK government and UK eco-fascists for abject lack of global context in their pursuit of “Net Zero”. The UK economy is low emission, and …
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By Paul Sankey
Published on October 12, 2024 at 1:58 PM
With ExxonMobil approaching a December 11th analyst day, which we believe is not only a major milestone in the company’s history, but also global oil & gas history, we did what we did with Guyana. We took it to the mat. In this extensive note, we went back through every ExxonMobil conference call and analyst meeting, starting with the company’s completely wrong forecast for the US hydrocarbon balance in 2006, through the 2010 XTO deal, …
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