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Quote of the day: The only thing more powerful than hate is love
Energy Transition
Paul Sankey

Morning BP Return on Actual Capital Employed

Tomorrow, delighted to say we have an oil market expert for your delectation on Happy Hour – 4PM ET Willie Chiang CEO of Plains All American who has just been extended as CEO. https://sankeyresearch.com/conference/sankey-strategy-session-plains-all-american-interest-form/ ~ Tomorrow, we have two $1bn EBITDA companies reporting that might just blow the doors off on results and guidance tomorrow. Darling Ingredients (DAR) has been on a tear particularly since Valero results. As you know, DAR is a key reason

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Paul Sankey February 11, 2026 12:03 PM
Energy Transition
Paul Sankey

BP: Can’t Get Out of its Own Way

What do you think on BP? Major investor: “They fumbled the buyback guidance” BP absolutely fumbled their buyback guidance, turning what could have been a straightforward story of financial prudence into this head-scratcher headline: ”BP cuts buyback, re-iterates 2026 net debt target unchanged” That whacked shares over- 4% this morning – there goes -$4bn on the London open, off BP’s $100bn market cap. Good morning to you. BP held the dividend steady at 8.32 cents

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Paul Sankey February 10, 2026 8:41 AM
Energy Transition
Paul Sankey

Sunday Answer Steve: Buy (more) Old Economy Stocks (like Oils)

We sent you a note on Uranium this morning, and so will keep this brief. I said I would do return a favour to Hedge Fund guru Doug Garber and join him on a podcast, and now I am being thrown in as a Venezuela expert. Which is the old “tallest dwarf” joke, but here it is, Friday February 13th, don’t forget Valentine’s Day next Saturday: https://shorturl.at/hzIn7 ~ Our note on last Friday’s: “XOM for

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Paul Sankey February 8, 2026 7:39 PM
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