Sees FY11 continuing operations EPS $3.59-$3.69 vs. consensus $3.75. The Q4 results were negatively impacted by weak margins on refined products, particularly for gasoline and petrochemical feedstocks. In addition, refining margins in Q4 were negatively impacted by reduced discounts for heavy sour feedstocks and the narrowing of prices for West Texas Intermediate versus Brent crude oils, resulting in higher-priced crude oils flowing through the system. The company will report complete Q4/FY11 earnings on Jan. 31. :theflyonthewall.com
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PetroChina to look at refinery, storage assets in Americas, China Daily says
Chinese energy giant PetroChina (PTR) plans to "focus" on storage and refinery assets in the Americas this year, according to China Daily. According to media reports, PetroChina has been in talks with Valero (VLO) about buying the latter company's refinery in Aruba, the newspaper reported. PetroChina Chairman Jian Jiemin said the project is something the company might look at, but added that he was unaware of any deal, China Daily said. Reference Link :theflyonthewall.com
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