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Late Wednesday, Exxon (XOM) responded to Biden's letter requesting solutions to the ongoing oil refining crisis. In the short term, "the US government could enact measures often used in emergencies following hurricanes or other supply disruptions -- such as waivers of Jones Act provisions and...
Soaring oil and gas prices are causing a lot of pain at the pump for consumers in the U.S. and around the world. For Chevron (NYSE: CVX) and other oil giants, however, the tight energy market has brought a big boost in profits and impressive share-price gains. President Joe Bide...
--News Direct-- Marathon Petroleum’s Transport and Rail (T&R) organization has announced two new partnerships with the Women in Trucking Association (WIT) and the Women in Trucking Foundation . Leaders recognize that industry associations that connect us with qualifie...
BMO initiated coverage of the "big 3" US refiners Tuesday, capturing all the well-understood themes in the sector. Rebounding demand, paired with reduced supply has resulted in elevated margins -- BMO sees the large-cap refiners trading at 6.2x 2022 earnings. The bank notes that "valuation is...
Wells Fargo analyst Roger Read has been bullish on the refining sector since late 2021; with Tuesday's upgrade of PBF (PBF) the analyst is now buy-rated on every US refiner under coverage. In a note Tuesday, Wells updated Q2 estimates, showing just how impactful current margins could be ...
In April, despite increased refining runs and reduced domestic demand, China saw oil product exports collapse year on year. May trade data, published Thursday, showed a continued reduction in exports, down 40% year on year and ~15% month on month: Although reduced exports are sure to im...
This is an intersection of some expanded coverage I am doing on energy, as well as dividend-paying stocks. I used Stock Rover to screen all energy stocks on major American exchanges to find about 100 energy companies paying dividends, most were high risk. I am not excited about oi...
The stock of Phillips 66 has been left in the dust by its larger refining peers Valero and Marathon. Yet the lack of global refining capacity is just as much a positive catalyst for PSX, and PSX's two refineries in Europe are ideally positioned. Given the current macro environment...
--News Direct-- “This is the worst it has ever been,” said Gwendolyn Bernard, a lifelong resident of St. John the Baptist Parish in Louisiana. Her home, one of seemingly too many to count, suffered extensive damage due to Hurricane Ida’s intense winds and the unprec...
There's a lack of adequate refining capacity because of refinery closures due to COVID-19, natural disasters, and the economic reality of the last few years. As a result, refiners are now in an excellent position to profit from crack spreads that have blown out - especially for diesel...
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Blackcomb Pipeline Reaches Final Investment Decision to Transport Growing Natural Gas Production from the Permian Basin to the Gulf Coast Region PR Newswire AUSTIN, Texas , July 31, 2024 /PRNewswire/ -- WhiteWater today announced that WhiteWater, MPLX LP (NYSE: M...
An emergency food pantry in Dickinson, North Dakota, recently got help in meeting local needs after issuing a public call for assistance via social media. The Association to Meet Emergency Needs pantry needed to replenish its supply shelves, prompting support from Marathon Petroleum's Dick...
NORTHAMPTON, MA / ACCESSWIRE / July 16, 2024 / Marathon Petroleum Corporation The Port of Long Beach, California, is supporting an effort to reduce debris in the port with devices that collect trash from the surface of the water. Marathon Pipe Line installed two electric trash skimmers ...