Morning Refining Conference

By Paul Sankey Published on December 9, 2020 at 8:27 AM

It is a delight to confirm that our 11th annual refining conference is on this year, as tradition dictates, on the first working day of the year, January 4th. Thanks indeed to the loyal CEOs of a heavily consolidated sector who find time at a difficult time of year – board meetings, strategy planning etc – to find time to join us. We will be running six fireside chats, back-to-back, with US independent refiner CEOs […]

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Morning Speedway

By Paul Sankey Published on August 3, 2020 at 8:55 AM

Huge deal from XOM on Friday, committing to no more debt and paying its dividend. The revelation that the company is 70% retail owned was an update to a number we have spoken about many times, that XOM was 50% retail held. Our number was stale! The imperative to pay dividend is clear, the commitment highly meaningful. Arguably XOM may now need to liquidate to pay dividend, which is actually what the market wants. We […]

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Marathon / Speedway NAV

By Paul Sankey Published on August 3, 2020 at 7:04 AM

MPC/Speedway updated NAV. Conference call 9:30am ET. Continue reading

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