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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By Paul Sankey
Published on January 8, 2025 at 6:18 PM
With genuine respect for Jimmy Carter, we nonetheless pressing ahead with our refining conference tomorrow, as we see it as time-sensitive to get in as close to the start of the year as possible. In case you missed it, tomorrow the Federal government and all the major US markets are closed. But the Sankey Research Refining Conference Day II continues unabated. We have oil to boil. Frees up time for you to join! The two …
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By Paul Sankey
Published on January 7, 2025 at 5:03 PM
Refining Conference Notes 1/6/25 The five independent refiner managements on our conference virtual chats were surprisingly upbeat given the abysmal refining margin back drop and upcoming challenging Q4 2024 results reports, that will follow on from challenged Q3s. Source: Bloomberg, Sankey Research Conclusion? These are all good managements with defensible strategies. Assuming they all remain safely run, and that’s a big assumption, but one that has been holding, they will tend to trade as a …
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