Post Tagged with: "Downstream"
Big Crude Oil Margins Should Boost U.S. Refiner Earnings
From Reuters
U.S. refiners ran full-tilt in the second quarter, fueled by cheap domestic crude and fat margins that should boost earnings, though their heavy activity could eventually saturate the market with gasoline, sapping profits down the road.
U.S. independent …
Aramco Expands and Signs Downstream Deals
From Reuters
Saudi Aramco plans to boost investments in refining and petrochemicals to secure new markets for its crude, and sees growth in chemicals as central to its downstream strategy to lessen the risk of a slowdown in oil demand.…
Enterprise Rings in Q1 with $912 Million
Enterprise Products Partners L.P. (ticker: EPD) recorded the first quarter of 2018 with a net income of $912 million, or $0.41 per share. Last year, in Q1 2017, the company reported a net income of $761 million, or $0.36 per …
Refiners Join Forces: Marathon to Acquire Andeavor for $23 Billion
Deal will create the largest U.S. refiner
Marathon Petroleum Corp. (ticker: MPC) and Andeavor (ticker: ANDV) have entered into a definitive merger agreement under which MPC will acquire all of ANDV’s outstanding shares, representing a total equity value of $23.3 …
Marathon Petroleum Earns $3.43 Billion in 2017, $5.5 Billion MPLX Offering
Marathon Petroleum Corp. (ticker: MPC) earned $2.02 billion, or $4.09 per diluted share, in Q4 2017. This is significantly more than in Q4 2016, where the company had earnings of $227 million, or $0.43 per diluted share. FY 2017 earnings …
EnerCom Dallas 2018 Presenter: Alta Mesa Resources, Inc.
Alta Mesa Resources, Inc. is a new company that was announced on August 16, 2017 that will combine Silver Run Acquisition Corporation II, Kingfisher Midstream, LLC and Alta Mesa Holdings, LP. The company has its asset base concentrated in the …
CorEnergy Has a Grasp on Stable Energy Infrastructure in GOM, Mid-Continent, NW
CorEnergy Infrastructure Trust, Inc. (ticker: CORR) holds the unique position of being the first publicly listed Real Estate Investment Trust that has a focus specifically in energy infrastructure. The company owns midstream and downstream assets, including pipelines, storage terminals, and …
Long Bets on Oil Increase as Summer Approaches
Refinery utilization hits 90.8%, the highest since the first week of the year
U.S. refiners are picking up activity as the summer driving months approach, encouraging markets to increase the number of long bets on oil.
Utilization is expected to …
Mexico Delays Next Phase of Auctions as Fuel Scarcity Increases
Mexico will announce the winners in the second round of offshore auctions three months later than expected
Mexico will delay the announcement of winners for Round 2 of its oil and gas auction in order to allow more companies to …
Tesoro Becomes the Fifth-Largest U.S. Refiner with $6.4 Billion Acquisition
Tesoro Corporation purchases Western Refining
Tesoro Corporation (ticker: TSO) announced a definitive agreement Thursday under which it will acquire Western Refining Inc. (ticker: WNR) at an implied current price of $37.30 per Western share in a stock transaction, representing a …
The Fuel Mandate that Could Sway Refineries’ Appetites to Lighter Crude
International Maritime Organization legislation looks to lower emissions from ships to 0.5% from 3.5% by 2020
A push for cleaner fuels in the world’s maritime industry could drastically change the appetite of the world’s refineries, and the producers of …
Ethanol’s Travels
The EIA released new data on ethanol’s and biodiesel’s movements by rail. Unlike other liquid fuels that are most commonly transported by pipeline, ethanol and biodiesel are more often transported by rail because both fuels attract water and other impurities …
Western Refining Pitches $2.56 Billion Buyout Offer for Northern Tier Energy
Purchased First NTI Stake in 2013
Western Refining (ticker: WNR) is attempting to enhance its Midwest footprint, proposing a $2.56 billion buyout deal of Northern Tier Energy LP (ticker: NTI). WNR already owns 100% of the partnership and 38% of …
Kinder Morgan Acquires Interests in 15 BP plc Terminals for $350 Million
Kinder Morgan (ticker: KMI), the largest energy infrastructure company in North America, is adding to its footprint.
On October 20, 2015, KMI announced a joint venture agreement with a subsidiary of BP plc (ticker: BP) for 15 terminals at a …
Hess Battles $1.5 Billion Suit Over Closed Refinery in the U.S. Virgin Islands
The U.S. Virgin Islands filed a lawsuit against Hess Corp. (ticker: HES) for approximately $1.5 billion, saying the company violated its contract by shuttering its refinery in St. Croix.
Prior to being shuttered, the facility was once the world’s largest …
Total Divests $1.3 Billion of Assets in a Week
Total sells North Sea midstream assets
On August 27, Total (ticker: TOT) announced that it sold its FUKA and SIRGE gas pipelines, along with the St. Fergus Gas Terminal, to North Sea Midstream Partners for £585 million (approximately $905 million). …
China Grants Crude Imports to Independent Refiners
Allowing independent refiners to import could boost demand
China’s Ministry of Commerce announced today that it will grant licenses to two independent refineries to directly import crude oil as the country works to allow more room for independent players in …
Refinery Inputs Reach Record-High 17 Million Barrels per Day
The rolling four-week average of refinery inputs exceed the five-year average every week this year
Gross inputs to U.S. refineries exceed 17 million barrels per day (MMBOPD) in each of the past four weeks, the highest level of refinery inputs …
Downstream Offers Integrated Majors a Ray of Sunshine Amid Stormy Second Quarter
International oil majors were burned but also warmed by low oil prices in Q2; and their new projects are moving forward
The second quarter has been tough for international oil majors like ExxonMobil (ticker: XOM), Chevron (ticker: CVX) and Royal …
Quantum Energy Commits to 40 MBOPD Refinery as Downstream Enjoys Stronger Margins
Partnership with Native Son Holdings set to build refinery in North Dakota
Quantum Energy (ticker: QEGY) and Native Son Holdings announced that they plan to form a joint venture in order to construct and operate a 40,000 barrel per day …
European Refiners Looking Forward to Receiving Iranian Crude
Lower prices for Iran’s oil mean better margins for refiners, competition for Russia
Refineries across Europe are anticipating the return of Iranian crude oil to their operations, and the potentially higher margins as added crude pushes prices down further. Approximately …
Russia Strengthening Ties with Vietnam
Russia buys 49% stake in Vietnamese refinery
Gazprom Neft (ticker: GZPFY), the oil arm of Russian state-owned Gazprom (ticker: OGZPY), and Vietnam Oil and Gas Group (PetroVietnam) have signed a series of agreements to strengthen ties between the oil and …
Independent Refiners: Western Refining Reports Q4
Western Refining reports fourth quarter results
Western Refining Inc. (ticker: WNR) today reported its fourth quarter 2014 results. The company reported net income of $116.8 million, or $1.19 per diluted share. This represents a 51% increase from the company’s …
Refineries, Gasoline Prices Experiencing the Silver Lining of Commodity Environment
United States refineries are running at utilization rates well above 90%, but don’t count them as part of the oil and gas industry being squeezed in the current commodity market. The Energy Information Administration (EIA) still expects domestic production to …
Hess Corporation sells Energy Marketing business for $1.025 billion to Direct Energy
Hess Corporation (ticker: HES) is a leading global independent energy company engaged in the global exploration and production of crude oil and natural gas. The company is currently shedding assets in 2013 to become a pure-play E&P company.
Hess …
