(Oil Price)– TotalEnergies (NYSE: TTE) reported third-quarter earnings essentially flat from a year earlier, as higher production, strong cash flows, and surging refining margins offset a 10% decline in oil prices. TotalEnergies said on Thursday that its adjusted net income stood at $4 billion for the third quarter, flat compared to $4.1 billion for the same period of 2024. The Q3 net
(Oil Price)– Valero Energy Corporation (NYSE: VLO) easily beat analyst forecasts of third-quarter earnings as refining margins surged by 44% from a year earlier, exceeding the average increase in U.S. refining margins. Valero reported on Thursday an adjusted net income of $1.1 billion, or $3.66 per share, for the third quarter of 2025. This compares to $371 million, or $1.16 per share,
(BOE Report)– Refiner Phillips 66 beat Wall Street estimates for second-quarter profit on Friday, helped by higher refining margins and lower turnaround expenses. Top U.S. refiners were expected to post higher second-quarter profit, rebounding from losses in the prior quarter as stronger-than-expected diesel margins lifted earnings. The improved margins helped peers such as Valero Energy surpass Wall Street estimates.
(BOE Report) – Phillips 66 reported a bigger-than-expected loss in the first quarter on Friday, as lower refining margins amid a widespread maintenance and turnaround activity across the U.S. refining sector weighed on its performance. U.S. refineries typically undergo seasonal maintenance and turnaround activities in preparation for the summer driving season, when fuel demand significantly increases. However, this scheduled downtime
(Oil Price) – PBF Energy (NYSE: PBF) on Thursday reported a loss for the fourth quarter amid falling refining margins, booking widening losses for the third consecutive quarter. PBF Energy said that its adjusted fully converted net loss for the fourth quarter of 2024, excluding special items, was $324.5 million, or a loss of $2.82 per share. The loss was in
