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Stock Market & Financial Investment News

News Breaks
December 11, 2012
17:05 EDTTSO, TLLP, CVXTesoro Logistics acquires Chevron Pipeline's northwest products system for $400M
Tesoro Corporation (TSO) announced that its affiliate, Tesoro Logistics LP (TLLP), has executed a definitive agreement to purchase Chevron Pipe Line Company's (CVX) Northwest Products System for $400M. The transaction is subject to regulatory approval and is expected to close during 1Q13.
News For TLLP;TSO;CVX From The Last 14 Days
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April 22, 2015
20:35 EDTTSOTesoro says Q1 impacted by work stoppages
Tesoro stated, "Q1 was impacted by work stoppages at the Anacortes, Washington and Los Angeles and Martinez, California refineries. Also during Q1, planned maintenance was performed at our Martinez, Anacortes and Salt Lake City, Utah refineries. The California region was the most significantly impacted by the work stoppage. The Martinez refinery was idled during February and March and production was impacted at the Los Angeles refinery. Compared 1Q14, California region throughput was lower by approximately 100,000 barrels per day, resulting in increased operating costs of more than $1 per barrel. The impact of the work stoppage and the planned turnarounds in Q1 resulted in a consolidated refining gross margin of $11.77 per barrel compared to the consolidated Tesoro Index of $16.71 per barrel. The combination of higher system throughput during January when margins were low, the work stoppage impact in February and March and inventory builds associated with the turnarounds resulted in lower capture rates for the quarter. We expect to realize a positive impact to system capture rates in Q2 as we are in the final steps of completing the planned maintenance."
20:27 EDTTSOTesoro backs FY15 adjusted EBITDA view of about $2.6B
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20:27 EDTTSOTesoro backs Q2 adjusted EBITDA view of about $800M
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20:26 EDTTSOTesoro reports Q1 adjusted EPS 98c, may not be comparable to consensus $1.85
Reports Q1 EPS $1.15. Adjusted EBITDA for Q1, excluding special items, was $489M compared to $362M last year. Greg Goff, chairman and CEO stated, "We managed through a very difficult Q1 which resulted from the labor disruption at our three West Coast refineries. Also during the quarter planned maintenance was performed at three refineries, including extended downtime at the Martinez refinery. As of the beginning of April, the labor disputes have been resolved and we are back on track to deliver on our stated 2015 business improvement objectives. We are very confident in our current 2015 Plan, which is consistent with consensus EBITDA estimates of approximately $800M for Q2 and $2.6B for FY15."
April 21, 2015
12:59 EDTCVXExxon Mobil CEO sees continued pressure on oil prices, WSJ says
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07:22 EDTCVXOceaneering cut to sell following recent rally at Jefferies
Jefferies downgraded Oceaneering (OII) to Underperform from Hold citing the recent rally in shares and its lowered order outlooks across its subsea hardware coverage. Underperform is the firm's equivalent to a sell rating. It cut its price target for shares to $49 from $52. Oceaneering closed Monday's trading up 45c to $57.56. Jefferies calls Chevron (CVX) and Galp Energia its top stock picks in the integrated oil sector.
April 20, 2015
15:35 EDTTSOSenator to introduce legislation to repeal U.S. crude export ban, Fuelfix says
Senator Lisa Murkowski, the head of the Senate Energy and Natural Resources Committee, pledged during the IHS Energy CERAWeek conference to advance legislation lifting the U.S. ban on crude oil exports, reported Fuelfix. Publicly traded refiners include Delek US (DK), HollyFrontier (HFC), Marathon Petroleum (MPC), Phillips 66 (PSX), Tesoro (TSO), Valero (VLO) and Western Refining (WNR). Reference Link
14:56 EDTTSOSenator to introduce legislation to repeal U.S. crude export ban, Reuter says
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09:36 EDTCVXActive equity options trading on open
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06:19 EDTTSOCiti still bullish on U.S. Refiners, Marathon Petroleum a top pick
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06:06 EDTCVXChevron to face off against lawyer in appears court, WSJ reports
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April 17, 2015
08:29 EDTCVXU.S. may be at, or near, peak oil output, WSJ says
New data and forecasts suggest lower crude prices are finally prompting U.S. energy companies to cut back their crude output, according to The Wall Street Journal, citing reports from OPEC, the DOE and North Dakota. Publicly traded oil majors include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). Publicly traded drillers and oil services companies include Baker Hughes (BHI), Diamond Offshore (DO), Halliburton (HAL), Nabors Industries (NBR), Noble Corp. (NE), Rowan Companies (RDC), Schlumberger (SLB), Transocean (RIG) and Weatherford (WFT). Reference Link
April 14, 2015
06:40 EDTCVXU.S. shale forecast, Yemen fighting lift oil prices, Reuters says
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April 12, 2015
16:49 EDTCVXIEA says Iran nuke deal to have limited impact on supply for years, Reuters says
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