By Paul Sankey
Published on May 1, 2024 at 6:23 PM
First the shock news… FTC to approve XOM-PXD deal. Then the condition: Pioneer CEO Scott Sheffield cannot join ExxonMobil’s board because of anti-competitive collusion with OPEC. All this is as reported by the Wall Street Journal this evening. Knee jerk first thoughts: Very first thought? You have to suppress a wry smile. Imagine the weeping and wailing at ExxonMobil’s “God Pod” management floors at this loss; get the Pioneer acreage, but not Scott Sheffield. Gosh darn …
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By Paul Sankey
Published on April 28, 2024 at 6:23 PM
Hello, Distracted by the Knicks WIN, this afternoon. Hard fought to 3-1 in the series vs Philadelphia. A quick run around on distillate today, we skip over a rabbit hole with luxury goods stocks, and brace you for a massive week of earnings for E&P, unless like the average investor, you own “XOM, or CVX, or COP, Valero, a midstream, and one other, let’s do FANG”. “Pitching OVV to portfolio managers is hard, however rational …
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By Paul Sankey
Published on April 27, 2024 at 2:11 PM
At the risk of losing you with the first phrase, dear reader, we are starting today’s note on US college campuses. A different approach to ExxonMobil and Chevron results. It is not often that the CEO of ExxonMobil – Darren Woods – brings tears to my eyes with the answer to a question, followed by me giving a mental standing ovation, but as his interview with Becky Quick on CNBC yesterday morning concluded, they had …
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