By Paul Sankey
Published on March 8, 2026 at 7:56 PM
Well, that was quite a week. And there it is, oil through $100/bbl on the Tokyo open. It is blatantly clear that the Trump Administration had zero, nada, nothing, as contingency plan for Iran declaring the Strait of Hormuz shut to transit. Even now, their $20bn insurance knee jerk response has been completely ineffective. We are facing the largest overall oil & gas volume outage of my career, which started in 1990, Gulf War 1. …
Read More
By Paul Sankey
Published on September 30, 2025 at 1:19 PM
Happy Hour Jeanine Wai, former top-ranked US Major Oil analyst, now IR with TOTAL, fresh from their analyst meeting that was held Monday this week, and subsequent investor feedback. Owing to Yom Kippur (after sundown tomorrow) we are bringing the call forward to 12pm ET Wednesday October 1st. That’s 5pm for me in London. Register here for Ms Wai, PREMIUM EVENT: https://sankeyresearch.com/conference/sankey-strategy-session-jeanine-wai-totalenergies-interest-form/ Like ENI, TOTALEnergies is planning to grow quite fast: 4% annual growth. And grow free …
Read More
By Paul Sankey
Published on February 1, 2025 at 3:02 PM
Who wins from Canada/Mexico oil tariffs? For sure we think consumers lose from higher pump prices given higher cost Canadian crude particularly in the US MidCon. Whether the oil tariff is +25% or +10% matters, as that will be the likely impact on Mid-Con pump prices. Short term winners, complex Gulf Coast refiners such as ExxonMobil, Valero, and Marathon Petroleum, although the latter is a loser in Mid-Con refining, as is Phillips 66 which also …
Read More
