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Oil & Gas Refining and Marketing

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Shell says it and Pennzoil will continue to be supplier to Penske organization

Friday, 24 Feb 2017 11:00am EST

Shell:Shell and Pennzoil will continue to be preferred supplier of fuels, lubricants and related products to Penske organization.

Calumet Specialty Products Partners Q4 net loss $1.01/unit

Friday, 24 Feb 2017 06:00am EST

Calumet Specialty Products Partners Lp : Calumet specialty products partners, l.p. Reports fourth quarter and full year 2016 results . Qtrly diluted net loss per unit $1.01 . Qtrly sales $ 946.9 million versus $ 898.0 million . Calumet specialty products partners lp sees fy 2017 total capital spending for fiscal year 2017 is expected to range from $120 million and $140 million . Calumet specialty products partners lp - cost saving efforts will remove an additional $10 million to $20 million in annualized sg&a expenses . Calumet specialty products partners lp - on track to hit original $150 million to $200 million adjusted ebitda target by end of fiscal year 2018 .Calumet specialty products - fuel products segment results for 2016 negatively impacted by 31.4% y-o-y decline in benchmark gulf coast 2/1/1 crack spread.

Brightoil Petroleum reports HY profit for the period HK$412 mln

Friday, 24 Feb 2017 05:04am EST

Brightoil Petroleum Holdings Ltd <0933.HK> : HY revenue hk$31.26 billion versus hk$21.65 billion . HY profit for the period hk$412 million versus loss of hk$523 million . Board does not recommend the payment of an interim dividend for the six months ended 31 december 2016 . Looking ahead to second half year of fy2017 and near future, all upstream projects will achieve considerable increase in production . Looking ahead to second half year of fy2017, profits are expected to grow further due to oil price recovery and continued sales increase . "Group's six bunker barges are expected to operate with improved utilization and efficiency" . "Looking into second half year of fy2017, average TCE of our VLCC's is expected to rise" ."Our e-commerce platform is expected to face challenges when they enter market".

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