By Paul Sankey
Published on December 21, 2025 at 4:50 PM
Season’s Greetings, As recently as November 11th, I wrote to you about having dinner in Midtown Manhattan with Meg O’Neill, then Woodside’s CEO. So as you can imagine, the announcement Friday that Meg will eventually be the new CEO of BP (she does not start until April 2026) caught my interest. It was a surprise announcement, at least to me. We cover that today. The argument in this note is that BP should consider doing …
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By Paul Sankey
Published on October 3, 2025 at 9:13 AM
In other major US energy news before we start: Permian Highway Pipeline (PHP) shutdown. Kinder Morgan’s ~2.1–2.65 Bcf/d Permian-to-Gulf Coast natural gas takeaway line is said to have an issue, and WAHA Permian natgas prices have gone “double digit negative”.) Bad news for almost all Permian E&Ps, and we can see this as being a tough earnings season coming up for Q3 earnings, as reports of rising costs and flat crude prices with poor Permian …
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By Paul Sankey
Published on September 26, 2025 at 1:57 PM
Last night we had an excellent discussion with Jon Rigby, which is a great listen for those interested in management theory, and of course ENI. “Oil companies depend on two things: people, and process”. The conversation proper starts at 7.30 mins. https://analysthub.zoom.us/rec/share/YFyVyUv29bwcWQHoDVKn4s2sj1kLuXBoObt-pPONJywX9yNKls35NYsWVnXkrKpp.L-BT9tO6WjFVaGH-?startTime=1758815678000 Sorry, I was remiss in not distributing last week: Tara Billingsley last week was described as “illuminating” by a US biofuels expert. One key point she made, while accepting that the EPA has …
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