Sunday Sober Captains

By Paul Sankey Published on November 12, 2023 at 5:10 PM

*** SAVE THE DATE JANUARY REFINING CONFERENCE MIAMI WEDNESDAY 3RD JANUARY *** Our 13th annual January Refining conference will be HYBRID – either join us in the room in Miami Beach or participate by Zoom for a CEO/Senior Management discussion. We have commitments from major refiners, and a Super-Major CEO provisionally confirmed for small group dinner that evening of January 3rd. We are finalizing the schedule. Let’s not be coy, Goldman’s major energy conference is…

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Morning Rubbernecking

By Paul Sankey Published on October 20, 2022 at 9:38 AM

What can you do but write an earnings note during earnings? Well, we put out a theme note yesterday on East Med, which had good reviews, but question marks over the materiality to the big winner, Chevron. As the oil space, and its respective components, have settled into a sensible valuation structure and lack of differentiation between themes, the quest is on to look at Kosmos or offshore drillers for some excitement. And we will […]

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Morning Idi

By Paul Sankey Published on October 13, 2022 at 6:28 AM

Gossip from dinner with my London lawyer friend who is familiar with, let’s say, “emerging markets law”: Russia’s power rests between the Oligarchs who have the money, vs the military, that have the weapons. The single crossover oligarch, who controls the military, is Putin alone. Can the oligarch class form an ex-Putin alliance with the military? Difficult. Rational analysis of Nordstream pipeline explosions, which logically would conclude that Poland done it, with NATO deep state […]

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