Refined Products – Page 25

Tesoro Becomes the Fifth-Largest U.S. Refiner with $6.4 Billion Acquisition

November 17, 2016

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 22% premium to the company’s closing price Wednesday. The equity value of the deal is $4.1 billion and includes the

The Fuel Mandate that Could Sway Refineries’ Appetites to Lighter Crude

November 8, 2016

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 heavy crude oil. By 2020, ships around the world will have to cut their sulfur emissions to 0.5% from 3.5% currently,

HollyFrontier to Acquire Suncor Energy’s Petro-Canada Lubricants Business for CAD$1.125 Billion

October 31, 2016

Combination Creates Fourth Largest Specialty Lubricants Producer in North America HollyFrontier Corporation (ticker: HFC) today announced it has entered into a definitive agreement to acquire Suncor Energy’s Petro-Canada Lubricants business for CAD $1.125 billion (or approximately $845 million based on the exchange rate at time of signing), including working capital with an estimated value of CAD $342 million (or approximately

Exxon Continues to Focus on the Long-term

October 28, 2016

Records 3Q production of 3.8 million boe/d, $2.7 billion earnings The world’s largest publicly-traded oil company gave its 3Q 2016 earnings call this morning. Jeff Woodbury, Vice President of Investor Relations, was on the call while CEO Rex Tillerson was not present. The company logged earnings of $2.7 billion, a 38% decline from 3Q 2015, as well as capital and

Total Outperforms Peers, Upstream Buoyed by LNG Business

October 28, 2016

Total: “positioned to be the most profitable European major oil company” French oil major Total (ticker: TOT) reported its third quarter earnings today. The company has continued to send the same message every quarter, focusing on increasing production and declining operational costs and capital spending. “We expect the environment to remain volatile but based on our 2015 and first half

EPA Releases New Emissions Guidelines for VOCs from Oil and Gas Equipment, Well Sites

October 26, 2016

Haynes and Boone looks at new EPA guidelines The U.S. Environmental Protection Agency has published new final Control Techniques Guidelines (CTGs) targeting volatile organic compound emissions from existing oil and natural gas equipment and processes in certain states and nonattainment areas. The agency looked at all the points where it found that emissions can occur throughout the oil and natural

Oil’s Rush to Create Plastic May Be a Wrong Turn - oil & gas 360

Energy Prosperity Comes in Many Forms

October 18, 2016

Ethane’s domino effect in Pennsylvania The shale energy revolution is famous for jump-starting natural gas production in Appalachia, with Pennsylvania and Ohio at the center of a drilling boom during the past decade from which thousands of people flourished from good jobs related to natural gas extraction. But putting people to work drilling and producing natural gas and building pipelines to transport it

Massive Chemical Merger Is Rumored To Be Underway in China

October 14, 2016

From Stratfor China is reportedly planning to merge the Sinochem Group and the China National Chemical Corp. (ChemChina) into a giant chemical company worth more than $100 billion. Both state-owned enterprises, however, have officially denied the merger talk. If China does, in fact, combine the two, it would create a downstream giant with a refining capacity of about 1 million

Marathon Oil Announces $235 Million Permian Divestiture

October 4, 2016

Marathon Sells CO2 and Waterflood Assets in West Texas and New Mexico Marathon Oil Corp (ticker: MRO) announced on Monday that it has signed an agreement to sell certain non-operated CO2 and waterflood Permian assets in West Texas and New Mexico for $235 million, excluding closing adjustments. The effective date for the transaction is September 1, and the deal is

Outlook Positive for U.S. NGL Production and Exports

September 22, 2016

Wells Fargo NGL Snapshot Examines U.S. Supply, Demand, and Fractionation Capacity With the arrival in Norway of the first ethane shipment from Enterprise Products Partners’ terminal in Morgan’s Point, Texas on September 22, Oil & Gas 360® took a look into the current state of the U.S. natural gas liquids market, as outlined in Wells Fargo’s September NGL Snapshot. May

Saudi Bid on a Houston Oil Refinery Shows Confidence in U.S. Market

September 16, 2016

From The New York Times Saudi Arabia has offered to buy the LyondellBasell oil refinery on the ship channel in Houston. Valero and two Canadian companies are also interested. HOUSTON — The Saudi national oil company is making a bid to significantly expand its operations in the United States at a critical moment in the always uneasy relations between the

Iraq Seeks to Build Four New Refineries, but ISIS Still a Threat

September 7, 2016

Iraq relaunches investment plan to expand its downstream capacity Iraq’s oil ministry is revisiting a program announced four years ago to build four new refineries. Iraqi Oil Minister Jabbar al-Luaibi has invited international oil companies to invest in the construction of new facilities as the country looks to expand its downstream capacity. The ministry also plans to double Iraq’s crude

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