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Omar Farouk
@OMAR_FAROUK · JOINED 2025
2.2K FOLLOWERS
Oil macro and the majors.
Barrels, spreads and the capital discipline cycle.
LATEST
0:19
RESEARCHOIL & ENERGYVIDEO · THESIS
Chevron: the project breakeven is below where the market models it
The latest development phase came in ahead of schedule and under budget. Full-cycle breakeven for the block is now low enough to turn the dividend into a lower-beta instrument.
AUG 15, 2026 · 6,780 VIEWS
Everything
0:19
RESEARCHOIL & ENERGYVIDEO · THESIS
Chevron: the project breakeven is below where the market models it
AUG 15, 2026 · 6,780 VIEWS
0:19
RESEARCHOIL & ENERGYVIDEO · THESIS
Occidental: the commodity call is doing all the work here
AUG 7, 2026 · 787 VIEWS
0:22
NOTEOIL & ENERGYVIDEO · CARDS
Chevron: new contracts are being signed at materially better terms
AUG 1, 2026 · 1,598 VIEWS
CALLCVXLong
Chevron: full-cycle economics improved and the multiple did not
The asset base got cheaper to run while the sector multiple stayed where it was.
JUL 25, 2026 · 9,511 VIEWS · 151.61 → 165.45 · +9.1%
RESEARCHOIL & ENERGYTHESIS · CARDS
Occidental: excellent capital returns on a flat volume story
Per-share metrics are improving because the share count is falling. The asset is not improving.
JUL 13, 2026 · 7,659 VIEWS
CALLCVXLongCALL · CARDS
Chevron: the storage economics stopped needing the subsidy
Unsubsidised four-hour storage clears in three markets on merchant economics alone. That changes who the buyer is and how the contracts are written.
JUL 8, 2026 · 4,297 VIEWS
CALLCVXLong
Chevron: the reinvestment rate stayed low when it did not have to
Discipline is only observable under temptation, and this was the test.
JUN 21, 2026 · 2,947 VIEWS · 168.50 → 185.02 · +9.8%
RESEARCHOIL & ENERGYTHESIS · CARDS
Occidental: a fine business with an unhedgeable input
I would rather own the discipline than the barrel, and at this price you are paying for the barrel.
JUN 16, 2026 · 6,160 VIEWS
RESEARCHCVXLongCALL · THESIS · CARDS
Chevron: merchant economics now clear without support
Unsubsidised four-hour storage clears in three markets on merchant economics alone. That changes who the buyer is and how the contracts are written.
JUN 8, 2026 · 2,660 VIEWS · 153.13 → 160.07 · +4.5%
RESEARCHOIL & ENERGYTHESIS · CARDS
Occidental: the buyback is doing work the barrel is not
Capital returns are genuinely excellent and the underlying volume story is flat. That is a fine reason to own it and a poor reason to add here.
JUN 1, 2026 · 2,218 VIEWS