NEW YORK/ HOUSTON, Oct 9- Investment bank Lazard Ltd has asked bidders that have shown interest in buying Citgo Petroleum Corp's U.S. refineries to submit an additional round of offers, people close to the deal told Reuters this week as the sale process proceeds despite doubts. Venezuela's state-run oil company PDVSA hired Lazard to handle the sale process for...
After the financial crisis of 2007-2009, a number of ailing U.S. refineries were sold to investors such as Carlyle Group and Delta Air Lines Inc, which lacked the credit agreements or oil trading expertise to efficiently supply their new plants. On Tuesday, Philadelphia Energy Solutions LLC, the biggest refinery on the East Coast, became the latest to join the...
NEW YORK, Sept 9- Venezuela's state-run oil company PDVSA is seeking preliminary offers for its U.S. unit Citgo Petroleum Corp by the end of September, a deal that could fetch up to $10 billion, according to two people familiar with the matter.
Shares of oil and gas producer Pioneer Natural Resources Co and pipeline company Enterprise Products Partners LP rose after the companies received a private ruling from the U.S. Department of Commerce to export the condensate. Shares of Eagle Ford shale producers Rosetta Resources Inc and SM Energy Co were up more than 4 percent in afternoon trading.
The U.S. Department of Commerce's Bureau of Industry and Security told Pioneer Natural Resources Co that lightly processed condensate would be eligible for export without a license.
May 6- Western Refining Inc and HollyFrontier Corp said they expect refining margins to grow in coming quarters due to lower crude costs. The price for West Texas Intermediate crude oil for delivery into Midland, Texas, which Western Refining and HollyFrontier access easily, is lower than the price for the benchmark crude in Cushing, Oklahoma.
Inland refiners such as Western Refining, HollyFrontier Corp and Marathon Petroleum Corp are benefiting from easy access to cheap shale crude, boosting their refining margins.
Net income attributable to the company inched up to $85.5 million, or 88 cents per share, in the quarter ended March 31, from $83.7 million, or 81 cents per share, a year earlier.
Some of Tuesday's midday movers:
With reassurances that the Fed will keep on easing, markets turn their attention to the European Central Bank Thursday, hoping for a rate cut.
A surprise drop in gasoline supplies sent oil and gasoline futures higher, but pump prices are likely to head lower.
Take a look at some of Tuesday's midday movers:
In a domestic energy market developing faster than just about anyone can remember, the key is in finding an edge.
A looming increase in taxes could force the hand of some companies to issue special dividends before year end, making it a record year for payouts, but which ones?
Gasoline prices — along with oil company profit margins — will likely head downward in the next several weeks, but one stock still has growth potential, Deutsche Bank oil analyst Paul Sankey said Thursday on CNBC.
NEW YORK-- Shares of several oil refining companies fell Wednesday after Chevron Corp. said its third-quarter results will be substantially lower than its second-quarter earnings.
*Raymond James Raises HollyFrontier Corp target price to $44 from $42. *Raymond James Raises Valero Energy target price to $36 from $32. *Raymond James Raises Western Refining target price to $32 from $31 For a summary of rating and price target changes on U.S. companies:.
Goldman Sachs analysts are favoring four oil-patch stocks, giving them potential six-month price increases of as much as 95 percent. This comes at a time when oil prices, a great determinant of energy companies' earnings and share-price performances, have been highly volatile.
Oil prices continued to march higher Tuesday, nearing $100 per barrel. But Stephen Schork, editor of The Schork Report, told the “Fast Money” team the sharp gains make no reasonable or logical sense.
Two analysts told CNBC Thursday the best way to winterize a stock portfolio is to buy shares of coal or oil companies rather than buying the commodities directly.