U.S. independent refiners are expected to roll out lower than expected first-quarter profits after a spate of outages, weak gasoline margins and a ...
NEW YORK: U.S. independent refiners are expected to roll out lower than expected first-quarter profits after a spate of outages, weak gasoline margins and a surge in the price of Canadian oil, according to analysts.
U.S. refinery utilization dropped to 87.5 percent in early April, the lowest seasonally since 2014. Refiners had been running full-tilt for much of 2018, encouraged by strong demand for distillates. But in the process, they overproduced gasoline, tanking margins for the fuel along the way. On top of heavy maintenance, fires broke out at facilities over the last few months, including at Valero's Port Arthur, Texas, refinery, Exxon Mobil Corp's Baytown, Texas, refinery and HollyFrontier's El Dorado, Kansas, refinery.HollyFrontier lowered the amount of crude it expected to process in the first quarter by 5,000 bpd.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Weak Chinese imports push US trade deficit to eight-month lowThe U.S. trade deficit fell to an eight-month low in February as imports from China plunged, suggesting President Donald Trump's 'America First' ...
Read more »
US housing starts approach two-year low; permits weakU.S. homebuilding dropped to a near two-year low in March, pulled down by persistent weakness in the single-family housing segment, suggesting the ...
Read more »
Huawei first-quarter revenue grows 39 percent to US$27 billion amid heightened US pressureHuawei Technologies said on Monday its first-quarter revenue jumped 39 percent to 179.7 billion yuan (US$26.81 billion), in the Chinese technology ...
Read more »
Huawei first-quarter revenue grows 39% to US$27 billion amid heightened US pressureHuawei Technologies said on Monday its first-quarter revenue jumped 39 per cent to 179.7 billion yuan (US$26.81 billion), in the Chinese ...
Read more »
India national extradited to the U.S. for allegedly defrauding US$230 million from 15,000 victimsSingapore authorities apprehended Patel at the request of the United States pursuant to a provisional arrest warrant on Sept. 21, 2018, after he flew from India to Singapore
Read more »
US dollar steadies after upbeat US data amid holiday-thin trade[TOKYO] The dollar steadied against a basket of currencies on Friday after hitting a two and a half week high overnight as data pointed to a sturdy US economy, while the euro was dented by weak manufacturing activity in Europe. Read more at The Business Times.
Read more »
US antitrust scrutiny tests T-Mobile's US$26 billion bet on SprintT-Mobile US Inc's US$26 billion deal to buy Sprint Inc banked on changes in wireless technology and media streaming to win U.S. antitrust ...
Read more »
Sarine Tech warns of Q1 net loss of between US$1m and US$1.5mMAINBOARD-LISTED diamond technologies firm Sarine Technologies has warned of a net loss of between US$1 million and US$1.5 million for the first quarter ended March 31, in a Singapore Exchange filing on Thursday after the market close. Read more at The Business Times.
Read more »
ST Engineering buys US engine parts maker for US$506mDefence contractor Singapore Technologies Engineering on Thursday completed its acquisition of an aeroplane engine parts maker for a net consideration of US$506 million (S$683 million) in cash. Read more at The Business Times.
Read more »
US businesses no longer 'positive anchor' for US-China relations: chamberFrustrated U.S. businesses can no longer be counted on as a 'positive anchor' in U.S.-China relations, a top U.S. business lobby said on ...
Read more »
Schlumberger profit falls 19.8 percent on weak North America activityTop oilfield services provider Schlumberger NV reported a 19.8 percent fall in quarterly profit on Thursday, hit by weak demand for its equipment ...
Read more »