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Sunday Sankey

Quote of the day: In a war of ego, the loser always wins

Global LNG Strategy Session 4pm (now) – Ira Joseph and Gordon Shearer

Thursday, March 5th at 4pm ET Ira Joseph – Senior Research Fellow at Columbia University’s Center on Energy Policy Gordon Shearer – Senior Advisor LNG, Poten & Partners * Premium Client Call * Registration – https://sankeyresearch.com/conference/sankey-strategy-session-ira-joseph-gordon-shearer-interest-form/ Client junior consumer analyst was asking about British American Tobacco getting hit today – defensive stock? Operations in Bangladesh, as shown in our note yesterday evening, dependent on Qatari LNG. Plenty on Korea getting really short natgas already, and Kuwait filling up oil storage fast.

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Paul Sankey March 5, 2026 3:16 PM No Comments
Energy Transition
Paul Sankey

Qatar LNG Shutdown: Global Energy Crisis (ex-US)

LNG superpower Qatar finds itself having been bombed by both Israel AND Iran within the past year. Now a gigantic oil and gas outage, and notably the unprecedented shutdown of the world’s single largest LNG facility, which is a multi-month outage, will roil markets far more than is currently being discounted in relatively muted energy and equity market responses. The world is sold out of LNG supply, and this gas would represent around 2mb/d of

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Paul Sankey March 4, 2026 10:03 PM No Comments

A Major Client Asks… Intelligence Responds

Paul, Saw your comments re: the Strait [of Hormuz]. Trying to get a sense of why tanker volume is so low between 1. Insurance 2. Voluntary – “let’s wait” 3. Iranian posturing 4. Fear of attacks 5. Actual attacks… etc… Agree with you that certainly don’t have the Navy to do it and mining seems like an extreme step so question really I guess is what does it take to get tankers (non Chinese/Russian) moving

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Paul Sankey March 2, 2026 6:45 PM No Comments

Sunday Mencho, Mensch, and Mojtaba

Short note today, I’m sick. Under the weather. It has been a crazy week to say the least, starting last Sunday with the assassination of Mexican Cartel boss El Mencho, directly inconvenienced and certainly struck fear into several members of my wife’s family (Puerto Vallarta airport attacked etc, although the footage of the burning plane was fake). Reeling from El Mencho last Sunday, we then got two feet of snow in 12 hours that served

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Paul Sankey March 1, 2026 1:36 PM No Comments
Energy Transition
Paul Sankey

Sunday Distilling US Distillate

Pondering the potential disaster of the incoming blizzard that has started here. Our Monday JFK flight to London at 9am… Cancelled First world problem Some 80% of the world’s population has never taken a plane. As of 4pm snow barely an inch ~ This note is a bullish US Distillate note. Strong demand, flat supply. Bullish complex refiners such as Valero, Marathon Petroleum and PSX, but the rising tide lifts all US refining boats, assuming

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Paul Sankey February 22, 2026 5:53 PM No Comments
Energy Transition
Paul Sankey

Holly Go Heavy: DINO CEO Go Mystery

DINO: well, I have seen some bizarre quarterly earnings beats, some bizarre management changes, but HF Sinclair DINO’s results yesterday were extraordinary. With the Street estimating 45c of Q4 earnings, the company reported a huge beat, underlying $1.20 of EPS, the abrupt exit of the CEO, an audit review whereby the results were un-auditable as of now, and then the Chairman came on the call, and said “I’m the CEO now, we can’t audit our

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Paul Sankey February 19, 2026 9:21 AM No Comments