By Paul Sankey
Published on April 21, 2026 at 8:36 AM
HEADS UP – Happy Hour TOMORROW WEDS is at 8:15am. Totally alternate time for our weekly Zoom, (it’s five o’clock somewhere). You guys will all be at your desks for over an hour by then. We are accommodating Singapore-based June Goh, she is very busy and 12 hours ahead. June Goh of Sparta Commodities is the Singapore refining expert causing an internet/Twitter oil Hormuz sensation with coherent and technically accurate Tweets on the subject. From …
Read More
By Paul Sankey
Published on April 18, 2026 at 4:37 PM
Last week, having satisfied my curiosity on Taiwan and Taiwan Semiconductor (TSMC) — which basically concluded that TSMC will keep getting cheap reliable subsidized government electricity even if it means Mrs Cheng has no aircon. That is globally important; AI is the counter theme to Hormuz and after TSMC’s earnings call, we concluded they are good to go for another quarter of crisis, so relatively very comfortable. Nothing it at all comfortable right now in …
Read More
By Paul Sankey
Published on April 16, 2026 at 11:57 AM
~ Again noted further to our last Sunday thematic on Australia on Sunday “Upside Down Under” — Australia’s last of two remaining refineries, Viva Energy’s Geelong facility (~120,000 b/d, ~10% of national fuel supply, ~50% of Victoria’s), had an explosion, seemingly on the old classic risk: deferred maintenance to run harder in a crisis causes accidents, and that theme will continue globally. Gets worse: Australia’s largest ammonia plant shut down too — Yara’s Pilbara facility …
Read More
