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Sunday Sankey 8/9/20

In this week’s edition of the Sunday Sankey we bring you the mega-bear argument for tech (it’s a commodity business), comments on BP’s remarkable transition which coincided with continuing remarkable transition among US E&Ps – mostly. Tomorrow Oxy reports and there is a group that is now in the debt service zombie mode, which will fight to maintain production levels… to pay debt service. But on the positive side, PXD Pioneer took leadership on what Cimarex tagged “Shale 3.0”, see within. We were critical of EOG in this regard in a note published yesterday and linked within. Great stuff on China from Oilx, our favourite oil intelligence consultancy/data provider, and Saudi Arabia cuts production… in Iraq… in Iran? Amazing. Continue reading

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9:51 AM

Morning BP wow

BP sensationally announced further details of a major strategy shift this morning. The company has absolutely committed to the energy transition, certainly relative to the other big oils, above all relatively to the US big oils. Reminder: Aramco has the lowest carbon intensity per barrel produced by far of any major oil producers. Note: ExxonMobil just committed to no new debt and sustained dividend, where by extension if oil prices do not rise, they will […]

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7:45 AM
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