Our analysts just identified a stock with the potential to be the next Nvidia. Performance was driven by a constructive market environment and the realization of multi-year business transformation efforts, resulting in 98% market capture in Refining. The current refining environment is characterized as a supply shock rather than a demand shock, with significant global capacity offline and low inventories creating persistent tailwinds. Midstream growth was underpinned by achieving over 100% average fractionation utilization and record LPG export volumes, validating the wellhead-to-market strategy. Refining cost structures improved through structural changes, targeting an annualized $5.50 per barrel operating cost by 2027 through energy efficiency and simplified work processes.