By Paul Sankey
Published on July 20, 2025 at 5:49 PM
I sent you a slab of text yesterday, a Thematic, our favourite work, on US power markets, and specifically the upcoming PJM auction results. I have re-attached the note to this email so you can plunge into it, if you have not already. It’s linked at the end of this note and is entitled “Understanding PJM: The Auction” which results are due this week, Tuesday 22nd July. ~ Top of mind, very disappointing share price …
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By Paul Sankey
Published on June 25, 2025 at 12:24 PM
Noted WSJ (typically the most reliable M&A source: “Shell in early talks to acquire BP,” Shell were in early talks to acquire BP in 2005, so good luck with that. BP needs a solution though, no question. We note that the Chairman of Shell Sir Andrew Mackenzie had dealings with activist Elliott Management when he was CEO of BHP, that is now involved with BP, at least involved according to press reports. ~ COVID changed …
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By Paul Sankey
Published on May 29, 2025 at 11:10 AM
Today, Ed Morse at 4pm by Zoom on Happy Hour with one of his many mentees, Jan Stuart. Should be great, Ed is ready to rumble; we chatted yesterday. The backdrop is well-known, we will focus on the geopolitics Saudi/OPEC, Middle East and above all China demand, with of course Jan providing outstanding oil market work. Ed has modestly demurred on talking too much Kazakhstan/Russia but has suggest a future guest on the subject, who …
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