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Neil Singhvi Mehta

Neil Singhvi Mehta

Vice President and Integrated Oil & Refining Analyst at Goldman Sachs Group Inc.

New York, NY, US

Neil Singhvi Mehta is a Vice President and Integrated Oil & Refining Analyst at Goldman Sachs Group, specializing in equity research covering major outperformers in the energy sector such as Valero Energy, Murphy Oil, and EOG Resources. Mehta has developed insights on topics like crude sourcing, refining margins, and the impact of regulatory changes on company profitability, and his research is regularly featured in industry events and earnings call discussions. With his career at Goldman Sachs beginning after earlier professional roles not publicly disclosed, Mehta's credentials include active FINRA registration and relevant securities licenses. He is recognized for combining detailed industry analysis with a focus on market fundamentals and policy, supporting institutional investor decisions in the oil and refining landscape.

Neil Singhvi Mehta's questions to HF Sinclair (DINO) leadership

Question · Q3 2025

Neil Singhvi Mehta inquired about the lower Q4 crude charge guidance, early thoughts on 2026 turnarounds, and HF Sinclair's go-forward strategy for return of capital.

Answer

Steve Ledbetter, EVP of Commercial, attributed the Q4 guidance to the planned Puget Sound turnaround and deferred maintenance. Valerie Pompa, EVP of Operations, anticipated lower costs and fewer turnarounds in 2026. Atanas Atanasov, CFO, stated the 50% payout ratio is a minimum, and excess cash flow will be returned to shareholders. Tim Go, CEO, highlighted a strong historical track record of cash returns and a balanced capital allocation strategy.

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Neil Singhvi Mehta's questions to VALERO ENERGY CORP/TX (VLO) leadership

Question · Q3 2025

Neil Singhvi Mehta asked about Valero's insights into the significant volume of crude on the water, its likely destination (OECD vs. China), and its potential as a catalyst for widening crude differentials, specifically mentioning Iraq. He also sought an update on the performance of Valero's non-refining businesses, particularly the sustainability of ethanol margins and the path to profitability for Diamond Green Diesel (DGD) post-RVO.

Answer

Gary Simmons, Executive Vice President and COO, confirmed an increase in Iraqi crude barrels (Basra and Kirkuk) flowing to the US, while most other barrels are directed to Asia. Eric Fisher, Senior Vice President Product Supply, Trading and Wholesale, stated that ethanol's outlook remains positive due to a record corn crop, strong domestic and export demand, and global E0/E10/E15/E20/E30 transitions. For DGD, he noted that recent softening of fat prices has led to positive EBITDA, but challenges remain for 2026 with PTC changes and RVO policy uncertainty.

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Neil Singhvi Mehta's questions to HALLIBURTON (HAL) leadership

Question · Q3 2025

Neil Singhvi Mehta inquired about Halliburton's focus on the Middle East for power opportunities, including existing constraints and strategies to overcome them, and sought early insights into the 2026 market outlook, especially for North America, based on initial customer conversations.

Answer

Jeffrey Miller, Chairman, President, and CEO, explained the Middle East is a key focus due to its developing economy, investment-forward approach, available energy, and capital. For 2026, he described the outlook as 'overall flattish with some bright spots,' noting North America is likely operating below maintenance spending levels, and the market dynamics, including OPEC Plus barrels, are creating an inflection point for future tightness and a strong recovery.

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