Downturn in Gasoline Spending Weighs on Refiners
The Paragon Report Provides Equity Research on Tesoro Corporation & Western Refining
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 03/16/12 -- Many U.S. refiners posted disappointing results in the final three months of 2011 as benchmark crude climbed more than 10 percent in the fourth quarter as global demand reached a record high. While crude prices soared, gasoline spending was way down in the fourth quarter, The Associated Press reports, pushing retail gasoline prices 7 percent lower from the previous quarter. The Paragon Report examines investing opportunities in the Oil & Gas Refining & Marketing industry and provides equity research on Tesoro Corporation (NYSE: TSO) and Western Refining, Inc. (NASDAQ: WNR). Access to the full company reports can be found at:
One of the prominent trends in the Oil & Gas Refining & Marketing industry is the number of refinery shutdowns, particularly on the East Coast of the U.S. and in Europe. Fuel production in the East Coast tapered off after Sunoco Inc. shut its Marcus Hook, Pennsylvania refinery, and ConocoPhillips idled its Trainer plant. Sunoco plans to shut its Philadelphia refinery by July if it isn't sold. Together the facilities can process about 45 percent of the region's refining capacity. Meanwhile, Europe's refining industry is coping with aging facilities, government taxation, and the high price of crude.
According to the American Fuel & Petrochemical Manufacturers, U.S. Northeast refineries are in an "economic and regulatory vise."
The Paragon Report provides investors with an excellent first step in their due diligence by providing daily trading ideas, and consolidating the public information available on them. For more investment research on the Oil & Gas Refining & Marketing industry register with us free at and get exclusive access to our numerous stock reports and industry newsletters.
Western Refining, Inc. operates as an independent crude oil refiner and marketer of refined products. The company operates in three segments: Refining Group, Wholesale Group, and Retail Group. The company's refining segment, which accounts for the bulk of the company's sales, recorded fourth quarter revenue of $2,151.3 million. This compares favorably with $1,974.2 million in the year-earlier quarter.
Tesoro Corporation reported a fourth quarter 2011 net loss of $124 million, or $0.89 per diluted share compared to net income of $3 million, or $0.02 per diluted share for the fourth quarter of 2010. "The fourth quarter was a challenging period as a result of the dramatic change in crude oil price differentials," said Greg Goff, President and CEO of Tesoro.
The Paragon Report has not been compensated by any of the above-mentioned publicly traded companies. Paragon Report is compensated by other third party organizations for advertising services. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 16.03.2012 - 07:20 Uhr
Sprache: Deutsch
News-ID 1093587
Anzahl Zeichen: 0
contact information:
Contact person:
Town:
NEW YORK, NY
Phone:
Kategorie:
Investment Services & Trading
Anmerkungen:
Diese Pressemitteilung wurde bisher 57 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Downturn in Gasoline Spending Weighs on Refiners
"
steht unter der journalistisch-redaktionellen Verantwortung von
Paragon Financial Limited (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
