By Paul Sankey
Published on April 27, 2024 at 2:11 PM
At the risk of losing you with the first phrase, dear reader, we are starting today’s note on US college campuses. A different approach to ExxonMobil and Chevron results. It is not often that the CEO of ExxonMobil – Darren Woods – brings tears to my eyes with the answer to a question, followed by me giving a mental standing ovation, but as his interview with Becky Quick on CNBC yesterday morning concluded, they had …
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By Paul Sankey
Published on April 21, 2024 at 6:02 PM
Today, after a preamble, perhaps ramble, a rant, we talk about Namibia. It is clearly emerging as the next Guyana. What does that mean for the world? More market supply shift towards the Atlantic Basin, offsetting Russia, pressuring capital & quota discipline in the Middle East. Structurally adds to the death of Peak Oil Supply as a concept, if you missed the burial. Namibia can add incremental oil that pressures prices to the detriment of …
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By Paul Sankey
Published on April 20, 2024 at 10:16 AM
A major client liked the chart we published last week, highlighting that Schlumberger has a pattern of under-performing quarterly earnings reports. Quod Errat Demonstrandum, as SLB under-performed on its results yesterday, despite a headline beat. All you can analyse is the margins, and guidance outlook change. They came in neutral to mildly negative on a stock that is relatively expensive. SLB was down -2.14% in a tape which saw the mighty energy sector XLE power …
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