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On the first team for a second year in a row, Deutsche Bank Securities’ Paul Sankey provides a “big-picture view of the industry, which incorporates both financial and political sensitivities,” observes one advocate. Sankey, 45, hails the U.S. unconventional oil and gas transformation — focused on resources such as shale — as a “dramatic shift” that’s reversing 30 years of falling production; it’s also helping to rebuild the economy as “people go out and hire rigs to drill for gas and find it and develop it, and it then goes to the U.S. processing industry.” Sankey argues that the refining industry benefits because it’s at “the leading edge of the U.S. processing and manufacturing renaissance.” Refining possesses “a double advantage because it benefits from the very cheap crude we have now in the U.S. and from cheap natural gas, which comprises a large portion of operating costs,” he adds. Current favorites include HollyFrontier Corp., which is headquartered in Dallas, and Houston-based Phillips 66, which “captures the entirety of the U.S. unconventional boom,” Sankey says. |
Energy – Integrated Oil: First
