By Paul Sankey
Published on October 9, 2024 at 7:26 AM
The internet here at my parent’s apartment is so bad that I looked at buying a Starlink. £299 from Curry’s (British ~Best Buy). I’m tempted to, but in this basement flat, we only have a 20ft square patch of skylight. So now I am running internet from my iPhone and it seems okay including a full Bloomberg. Hats off to technology. And frankly, hats off to Elon. How did he come up with – and …
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By Paul Sankey
Published on August 31, 2024 at 12:53 PM
Quote in this note: “this is the first time that the Middle East has more rigs than the United States. And it’s not now more, it’s almost double.” We were very interested in the quarterly report of a delisted SPAC international oilfield service (OFS) company this past week. So interested, that we wrote you a thematic today on NESR (National Energy Services Reunited) vs ExxonMobil. We found NESR’s results call to be a terrific refresher …
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By Paul Sankey
Published on August 14, 2024 at 9:49 AM
A focus note for you today, on Darling and the California Low Carbon Fuel Standard which has been an important factor in the weakness in West Coast refining margins, that is bleeding into wider refining margin weakness vs current refiner earnings estimates for Q3. We show in this note that California diesel is now 60% renewable, with attendant pressure on refining margins there, as gasoline demand has peaked, and 25% of vehicle sales are electric. …
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