By Paul Sankey
Published on January 13, 2024 at 11:41 AM
This year started with massive writedowns from both Chevron and ExxonMobil in California. You don’t need to read the all-time classic of industry literature, “Oil!”, by Upton Sinclair (nor watch the classic film “There Will Be Blood” which is based on the book) to know there is a long and storied history of oil in California. In this note we write brief histories that led to the write-downs. Spoiler alert, we start with the conclusions, …
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By Paul Sankey
Published on December 30, 2023 at 3:45 PM
Excitement is mounting for our refining conference day next week 3rd January. We also have a former big time oil trader and a former CFO of one of our independent refiners joining dinner 2nd January with Ole Slorer. Still space available if you are in Miami by Tuesday, please join. This note has company specific questions for the Tuesday participants, six companies back-to-back. There is no limit to participants if you want to join the …
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By Paul Sankey
Published on December 27, 2023 at 3:28 PM
Good evening, Above, my grandfather Stan and grandmother Win at Aunt Chubb’s wedding, late 1920s. You passed the solstice – the days are getting longer! Lots of places you don’t really care that much, but believe me, in today’s filthy British winter weather, here dark and stormy London (but warm), with sheets of rain, the standard optimism is that days are now getting longer. And so to Miami soon (same latitude as Dubai). Please join …
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