Quote of the day: The only thing more powerful than hate is love

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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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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Energy Transition
Paul Sankey

Morning Jake & Jeanine, MbZ vs MbS

This very evening, later today: Happy Hour Strategy Session; 4PM ET, Zoom, Chevron featuring Jake Spiering, who has just had a massive promotion out of Investor Relations, to replace retiring Frank Mount, President, Corporate Business Development “Head of M&A”. We also feature Jeanine Wai, who is incoming Chevron IR, and former Chevron employee who subsequently was a top sellside analyst and most recently head of US IR for TOTALEnergies. Register here for this evening’s chat.

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