Oil & Gas Refining & Marketing
(MRO) Marathon Oil Signs Agreement With Iraq
Marathon Oil Corporation (MRO) has signed an exploration deal with the government of Iraq, which marks the company’s foray into the country’s oil and gas industry. The financial terms...
(HES) Hess Earns Five Year Extension of Libyan Contract
The U.S. oil integrated Hess Corporation (HES) won a five-year contract extension for its exploration and production license off Libya’s coast. Yesterday, the Libyan government said that the contract extension...
(SUN) Double-Dip Means Double Trouble for U.S. Refiners – Play the Gasoline Boom $$
by David Fessler, Energy and Infrastructure Expert
Friday, August 27, 2010:...
(CBEH) China Integrated Energy – Beat Earnings Expectations by 11%
China Integrated Energy, Inc. (CBEH) recently surprised on the Zacks Consensus for the fourth quarter in a row and continues to be bullish, raising its full year revenue guidance.
China Integrated...
(HES) Hess and Toreador Plan Exploration in Paris Basin
Hess Corporation (HES) has signed a deal with Toreador Resources Corporation (TRGL) under which it may become a co-holder of Toreador’s...
(MRO) Marathon Oil Corporation Annouces Trimming of Downstream Business
Houston-based integrated oil major Marathon Oil Corporation (MRO) has entered into an agreement with three private equity firms — ACON Investments LLC, TPG Capital LP and NTR Partners LLC — to sell...
(MUR) Murphy Oil Corporation Reports Earnings Below Estimates
Subsequent to Murphy Oil Corporation’s (MUR) earnings release dated May 5, 2010, the company’s share price has remained largely stable. Despite the earnings sinking below estimates in the quarter, the...
(WNR) Western Refining’s Earnings Loss Narrows
Oil refiner and marketer Western Refining Inc. (WNR) reported better-than-expected first quarter results, helped by higher sales volumes. Its loss per share, excluding special items, came in at 35 cents, narrower...
(MRO) Marathon Oil Corporation Reports Better Than Expected Earnings
Marathon Oil Corporation (MRO) — the fifth largest refiner and marketer of petroleum products in the U.S. — announced significantly better-than-expected first-quarter 2010 results.
As has...
(HES) Hess Corporation Earnings Beat Significantly
Hess Corp. (HES) reported first-quarter earnings of $1.50 per share, easily beating the Zacks Consensus Estimate of $1.07 and the year-earlier loss of 18 cents. Total revenue increased 34% year-over-year to...
(MRO) Marathon Oil Corporation to Drill Off Indonesia
Houston-based integrated oil major Marathon Oil Corporation (MRO) said that it will start drilling operations on the Pasang Kayu oil and gas block in Indonesia in the second quarter of 2010.
Pasang...
(MRO) Marathon Oil Corporation Reports Weak Downstream
Houston-based integrated oil major Marathon Oil Corporation (MRO) has provided an interim update for the first quarter of 2010 (covering the first two months of the quarter).
The company expects the...
(VLO) Valero Energy Corporation Sells Delaware City Refinery
Valero Energy Corporation (VLO) has finally found a potential buyer for its Delaware City refinery. The company reached an agreement with PBF Energy Partners L.P. to sell this refinery for $220 million. In...
(VLO) Valero Energy Sells Delaware City Refinery
Valero Energy Corp. (VLO) has finally found a potential buyer for its Delaware City refinery. The company reached an agreement with PBF Energy Partners L.P. to sell this refinery for $220 million. In November...
(SUN) Sunoco Completes Chemical Subsidiary Sale
Oil refiner and marketer Sunoco Inc. (SUN) closed the previously announced sale of its polypropylene subsidiary Sunoco Chemicals Inc. to Brazil-based petrochemical and resin producer Braskem S.A....
(SUN) Sunoco Incorporated – Bear of the Day
We have downgraded Sunoco, Inc. (SUN) shares to Underperform from Neutral, reflecting the bearish refining margin outlook. Weak demand for refined products in the global downturn and increased capacity has...
(HES) Hess Corporation Sheds Non-Core UK Assets
Hess Corporation (HES) is stepping forward to sell a few of its natural gas properties for $423 million in cash. The company has entered into an agreement with Scottish & Southern Energy to sell its interest...
(SUN) Sunoco Incorporated – Bear of the Day
We are downgrading Sunoco, Inc. (SUN) shares to Underperform from Neutral, reflecting the bearish refining margin outlook. Weak demand for refined products in the global downturn and increased capacity has...
(SUN) Sunoco Analyst Downgrades Stock
We are downgrading Sunoco Inc. (SUN) shares to Underperform from Neutral, reflecting the bearish refining margin outlook.
Weak demand for refined products in the global downturn and increased capacity...
(CBEH) China Integrated Energy – Bullish about 2010
China Integrated Energy, Inc. (CBEH) recently reported record results for the fourth quarter as oil product demand stayed strong in China. CBEH is cheap, with a forward P/E of just 8.9.
Company...
(WNR) Western Refining Loss Narrows but Analysts Maintain Sell Rating
Oil refiner and marketer Western Refining Inc. (WNR) reported better-than-expected fourth quarter results, helped by higher sales volumes. Its loss per share, excluding special items, came in at 58 cents,...
(SUN) Sunoco Analysts Downbeat on The Near-Term
Last month, Sunoco Inc. (SUN), the Pennsylvania-based oil refiner and marketer, announced its financial results for the fourth quarter and fiscal year ended Dec. 31, 2009.
Disappointing Results
For...
(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...
(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...
(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...
(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...
(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...
(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...
(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...
(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’...