By Paul Sankey
Published on August 31, 2024 at 12:53 PM
Quote in this note: “this is the first time that the Middle East has more rigs than the United States. And it’s not now more, it’s almost double.” We were very interested in the quarterly report of a delisted SPAC international oilfield service (OFS) company this past week. So interested, that we wrote you a thematic today on NESR (National Energy Services Reunited) vs ExxonMobil. We found NESR’s results call to be a terrific refresher …
Read More
By Paul Sankey
Published on August 14, 2024 at 9:49 AM
A focus note for you today, on Darling and the California Low Carbon Fuel Standard which has been an important factor in the weakness in West Coast refining margins, that is bleeding into wider refining margin weakness vs current refiner earnings estimates for Q3. We show in this note that California diesel is now 60% renewable, with attendant pressure on refining margins there, as gasoline demand has peaked, and 25% of vehicle sales are electric. …
Read More
By Paul Sankey
Published on August 11, 2024 at 2:29 PM
Congratulations, you made it to vacation time. The Olympics has added to the media lunacy, and that is over. There is no August interruption in service for Sankey Research, but for clients, hopefully you are taking vacation time. In this note we show the cheapest places to get a Big Mac and a beer, globally. See you at Barcap first week of September: Barclays 38th Annual CEO Energy-Power Conference September 4th to September 5th, 2024. …
Read More
