By Paul Sankey
Published on March 20, 2024 at 8:55 AM
CERA Week key interest – certainly among the gaggle of merger arbitrage clients that attended this week – was for Chevron, Hess, and ExxonMobil, not least with XOM suddenly releasing a Guyana exploration 8K after the market Friday into the conference open, where Day 1 the star plenary speaker was ExxonMobil CEO Darren Woods. He said a lot, directly pertaining to Guyana, so the 8K was clearly related. One key line was “we are not …
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By Paul Sankey
Published on February 18, 2024 at 4:28 PM
Suddenly we are all bullish oils. Last week went well. Certainly it went well by oil’s atrocious recent standards vs the wider market. In fact, last week might just be a very bullish set up for the oils. But that statement depends a lot on NVDA results ahead. NVDA reports this week 21st February Wednesday after the market, going head-to-head with oil laggard APA, formerly Apache. We do not expect APA results to change the …
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By Paul Sankey
Published on January 31, 2024 at 9:08 AM
Never a dull moment in oil, nothing beats a shock press release. The most exciting press releases leave plenty to the imagination. Aramco’s curt comment yesterday, all of two sentences long, was rip with understated ramifications on 1 million barrels per day of crude production and billions of capital investment being cancelled. And just like that, Bloomberg reports this morning that Saudi is considering a $10bn secondary offering, as soon as March. Savvy, these Saudis, …
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