Oil & Gas Refining & Marketing
(SUN) Sunoco Posts Wider Loss
Oil refiner and marketer Sunoco Inc. (SUN) reported marginally weaker-than-expected fourth quarter results, as the challenging market environment continued to adversely impact the company’s volumes and margins in its petroleum and the chemical businesses. Loss per share, excluding...
5Feb2010 | vitalstocks | 0 comments | Continued(CBEH) China Integrated Energy Incorporated Reports a Record Third Quarter
China Integrated Energy, Inc. (CBEH) recently added 5 gas stations to its arsenal following its strategy to expand retail and distribution operations in 2010. CBEH is cheap, trading at just 8.06x forward earnings. Company Description China Integrated Energy distributes gasoline,...
5Feb2010 | vitalstocks | 0 comments | Continued(TSO) Tesoro Posts Steep Loss on Declining Refining Margins
Tesoro Corporation’s (TSO) fourth-quarter 2009 results came in weaker than expected, pulled down by depressed refining margins and lower throughput on the back of weak fuel demand and high inventories. The situation was further aggravated by higher costs and expenses. Loss...
4Feb2010 | vitalstocks | 0 comments | Continued(MRO) Marathon Oil Corporation Posts Depressing Refining Margins
Marathon Oil Corporation’s (MRO) fourth-quarter 2009 results came in weaker-than-expected, hampered by sharply lower downstream results on the back of depressed refining margins. Earnings per share, excluding special items, came in at 32 cents, 19 cents below the Zacks Consensus...
2Feb2010 | vitalstocks | 0 comments | Continued(HES) Hess Corporation’s Fourth Quarter Surpasses Estimates
Hess Corp. (HES) reported fourth-quarter earnings of $1.10 per diluted share, easily beating the Zacks Consensus Estimate of 90 cents and the year-earlier loss of 15 cents. The Exploration and Production (E&P) segment posted a $494 million profit in the quarter, compared...
27Jan2010 | vitalstocks | 0 comments | Continued(VLO) Valero Energy Corporation Beats Expectations – Analysts Maintain Underperform
Valero Energy Corp. (VLO) — the largest independent oil refiner in the U.S. — reported better-than-expected fourth-quarter results, reflecting lower operating costs. Loss per share, excluding one-time items, came in at 28 cents, significantly better than the Zacks...
27Jan2010 | vitalstocks | 0 comments | Continued(MRO) Marathon Oil Corporation Update Shows Weak Refining to Hurt
Houston-based integrated oil major Marathon Oil Corporation (MRO) provided an interim update for the fourth quarter of 2009 (covering the first two months of the quarter). Recovery in crude oil prices and robust production is expected to benefit the company’s upstream segment....
14Jan2010 | vitalstocks | 0 comments | Continued(HES) Hess Corporation Swaps Assets with Royal Dutch Shell
Hess Corporation (HES) yesterday joined hands with Royal Dutch Shell (RDSA) for a strategic asset swap deal. The deal will double Hess’ interest in two offshore fields in Norway – Valhall and Hod ? to 56.18% and 50%, respectively. No cash consideration is involved in the...
22Dec2009 | vitalstocks | 0 comments | Continued(VLO) Valero Enters Biodiesel Green Initiative
Valero Energy Corp. (VLO) has entered into a five-year agreement with Mission NewEnergy, an Australian company, to obtain biodiesel made from jatropha. Mission is an Australian biofuel refiner. Jatropha is a family of oilseed plants that can grow on marginal soil. It is treated...
15Dec2009 | vitalstocks | 0 comments | Continued(MRO) Marathon Oil to Offload Angola Offshore Stake
Integrated energy major Marathon Oil Corp. (MRO) announced the sale of its 20% interest in a block offshore Angola for $1.3 billion. In this regard, Marathon has reached an agreement with a unit of Angola’s state-owned oil company, Sociedad Nacional De Combustiveis De Angola...
14Dec2009 | vitalstocks | 0 comments | Continued(VLO) Valero Energy – Bear of the Day
We reiterate our Underperform rating for Valero (VLO) shares as a combination of weak demand, excess production capacity and narrowing crude quality spreads are expected to weigh on near-term margins. In addition to the near-term margin issues, commissioning of new refineries...
2Dec2009 | vitalstocks | 0 comments | Continued(SUN) Mixed Signals in U.S. Oil Demand
The U.S. Energy Department’s weekly inventory release showed a smaller-than-expected build in crude stockpiles, a surprise drop in distillates and improvement in refinery run-rates. However, this piece of positive data was somewhat tempered by reports of increases in gasoline...
28Nov2009 | vitalstocks | 0 comments | Continued(VLO) Valero Energy to Shut Delaware Refinery
Valero Energy Corp. (VLO) announced plans to close its Delaware City refinery due to poor economic conditions, significant capital spending requirements and high operating costs. The shutdown will affect approximately 550 employees at the plant. The company plans to commence...
25Nov2009 | vitalstocks | 0 comments | Continued(VLO) Despite What the News Tells You – Crude Oil Prices Set to Fall
by Sheena Martin, Contributing Editor Monday, November 23, 2009 Is the price of oil headed for $100 per barrel again? Many say it is. But to be frank, the “fair price” is much lower than the current range of $75-$83 per barrel. If you focus solely on the current fundamentals...
23Nov2009 | InvestmentU | 0 comments | Continued(MRO) Marathon Oil Corporation to Slash Spending
In its investor day meeting, integrated oil major Marathon Oil Corporation (MRO) offered a glimpse of its 2010 production and capital spending plans. Capital Spending Trimmed Marathon said that it will prune its capital expenditures by about $1 billion in 2010, as the company...
23Nov2009 | vitalstocks | 0 comments | Continued(DK) As U.S. Refiners Recover, Delek U.S. Holdings Jumps to the Next Level
by Sheena Martin, Contributing Editor Even as U.S gas prices climb, petroleum traders still have no interest in buying right now. And why would they? The summer driving season is at an end. Consumers are still trying to save cash, especially with the holidays approaching....
18Nov2009 | InvestmentU | 0 comments | Continued(WNR) Western Refining Suffers Quarterly Loss
Oil refiner and marketer Western Refining Inc. (WNR) reported weaker-than-expected third quarter results, pulled down by lower margins and throughput on the back of weak fuel demand and high inventories caused by the prolonged economic slowdown. This was partially offset by lower...
16Nov2009 | vitalstocks | 0 comments | Continued(TSO) Tesoro Corporation Beats Expectations – Cuts Dividend in Half
Tesoro Corporation’s (TSO) third-quarter 2009 results came in significantly better than expected, helped by better demand balance in the company’s key West Coast region. Earnings per share came in at 24 cents, against Zacks Consensus Estimate of a penny loss. Tesoro’s outperformance...
9Nov2009 | vitalstocks | 0 comments | Continued(SUN) Sunoco Posts Disappointing Quarterly Earnings
Oil refiner and marketer Sunoco Inc. (SUN) reported weaker-than-expected third quarter results as its refining and chemicals operations slipped in the red, pulled down by reduced margins and production. Loss per share, excluding special items, came in at 29 cents, significantly...
8Nov2009 | vitalstocks | 0 comments | Continued(MUR) Murphy Oil Corporation Reports Earnings in Line and Robust Production
Murphy Oil Corporation (MUR) posted earnings from continuing operations of 98 cents per share in the third quarter, almost in line with the Zacks Consensus Estimate of 97 cents. However, results were significantly below earnings of $3.04 reported last year, largely driven by...
7Nov2009 | vitalstocks | 0 comments | Continued(MRO) Marathon Oil Corporation Beats The Street – Production Up
Marathon Oil Corporation’s (MRO) third-quarter 2009 results came in better-than-expected, helped by the contribution from increased oil and natural gas production. Earnings per share, excluding mark-to-market and divestment losses, came in at 61 cents, above the Zacks Consensus...
4Nov2009 | vitalstocks | 0 comments | Continued(HES) Hess Reports Ahead of Forecasts, Volumes Up
Hess Corp. (HES) reported third-quarter earnings of 74 cents per diluted share, easily beating the Zacks Consensus Estimate of 54 cents. However, the result was much lower than the year-ago earnings of $2.37. Before adjusting for one-time items, the company posted earnings per...
29Oct2009 | vitalstocks | 0 comments | Continued(VLO) Valero Energy Corporation’s Loss Bigger than Expected
Earlier today, Valero Energy Corp. (VLO) — the largest independent refiner in the U.S. — reported a weaker-than-expected third-quarter 2009 loss, reflecting depressed refining margins and lower throughput on the back of weak fuel demand and high inventories. This...
27Oct2009 | vitalstocks | 0 comments | Continued(SUN) Energy Information Administration Reports Big Drop in Fuel Stocks
Yesterday, the U.S. Energy Department’s weekly inventory release showed a less-than-expected build in crude stockpiles. However, the headline news was centered on a sharp drop in gasoline stocks and refinery utilization that pushed oil prices to a fresh 2009 peak and lifted...
16Oct2009 | vitalstocks | 0 comments | Continued(MRO) Marathon Oil Corporation to Hit Upper End of Output
Yesterday, Houston-based integrated oil major Marathon Oil Corporation (MRO) provided an interim update for the third quarter of 2009 (covering the first two months of the quarter). Recovery in crude oil prices is expected to benefit the company’s upstream segment, while...
9Oct2009 | vitalstocks | 0 comments | Continued(MUR) Murphy Oil Corporation Acquires Ethanol Plant in North Dakota
Murphy Oil Corporation (MUR) announced the acquisition of a corn-based ethanol plant in Hankinson, North Dakota, on Oct 1, 2009, through its subsidiary. The purchase price was $92 million, which will be financed through non-recourse debt offered via the sellers. The company plans...
8Oct2009 | vitalstocks | 0 comments | Continued(MRO) Marathon Oil Corporation Sells Offshore Fields
Marathon Oil Corporation (MRO) on Friday announced the sale of its wholly owned subsidiary, Marathon Oil Gabon Ltd. (having a 56.25% interest in three offshore production fields) to London-based independent Perenco. The oilfields are Tchatamba Marin, Tchatamba South and Tchatamba...
6Oct2009 | vitalstocks | 0 comments | Continued(VLO) Valero Energy- Bear of the Day
We reiterate our Underperform rating for Valero (VLO) shares as a combination of weak demand, excess production capacity and narrowing crude quality spreads are expected to weigh on near-term margins. In addition to the near-term margin issues, commissioning of new refineries...
14Sep2009 | vitalstocks | 0 comments | Continued(VLO) Valero Energy Closing Unprofitable Units
Texas-based Valero Energy Corp. (VLO), the largest independent refiner and marketer of petroleum products in the U.S., plans to close a few loss-making units in its various refineries. This includes the coking and gasifying complex (which processes a type of heavy crude oil and...
9Sep2009 | vitalstocks | 0 comments | Continued(SUN) Oil Refiner Sunoco Sells Fuel Distribution Business
Yesterday, oil refiner and marketer Sunoco Inc. (SUN) announced the sale of certain assets of its U.S. retail heating oil and propane distribution business to specialty chemicals supplier Superior Plus Corp. Canada-based Superior has agreed to pay $82.5 million in cash for the...
3Sep2009 | vitalstocks | 0 comments | Continued