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 …
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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 …
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By Paul Sankey
Published on January 11, 2025 at 1:30 PM
Refining Conference Day 2: PBF & PSX Well muggins here comes out of the 12th annual Sankey Refining Conference bullish refining! I’m sure you could have predicted that, but honest, guv, I went in with open-mind-to-bearish (somewhat bearish refining, relatively bullish crude to start 2025). But of course I knew that seasonally we had to try to be bullish, especially with this cold. Sure enough, after listening to seven straight refining CEOs, I drank the …
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