By Paul Sankey
Published on October 30, 2026 at 3:08 PM
Today, results day, you would think that ExxonMobil and Chevron would be absolutely delighted… …with Valero announcing a major refinery restart this morning, right as the Mega US Oils announced massive quarterly results… driven by refining… driven by soaring diesel prices… right before the Mid-Terms… that are swinging Blue… on diesel prices/general global political mayhem. Hence: “We are re-opening a major US refinery” Valero’s line is terrific right here right now, fantastic political fodder for …
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By Paul Sankey
Published on September 19, 2026 at 10:29 AM
Love chatting to Tom, who really knows his racks. We started with my question: can you name the “Seven Sisters”? The 1970s nickname for the World’s Seven Biggest oil companies? It is like naming the Seven Dwarfs: getting the last one is tough. Source: Zoom, Sankey Research Replay is here, Tom Kloza vs Paul Sankey 60 mins, conversation starts at 4mins: https://analysthub.zoom.us/rec/share/rQEc1XCaXZ6xjlwR-4AMSM5oF0dvlB1I3OmDpNRY5t7HuqoMhfr1LA7eb5c8NX6I.mZ9MB8GNfYOV1EM0?startTime=1789674756000 Key Points Outlook in one line. Taking the other side of Goldman’s recent …
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By Paul Sankey
Published on March 24, 2026 at 11:58 AM
First day of CERAWeek started with a bang, in fact a series of bangs, but none of them were at the conference. We have TSA lines, air crashes, Port Arthur refinery (395kb/d and shut, thankfully with no reported injuries), the biggest refinery of the biggest US independent refiner Valero, seeing its distillate hydrotreater blowing up. The market is screaming for distillate, and about going hoarse after this one. We were 24 hours in to President …
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