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Oil & Gas Refining and Marketing

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Anadarko Petroluem sees 2016 capex of $3.1 bln to $3.3 bln, updates on restructuring charges

Tuesday, 26 Jul 2016 05:49pm EDT

Anadarko Petroluem : Anadarko Petroluem says estimates a 2016 capital spending range of $3.1 billion to $3.3 billion - SEC filing . Anadarko Petroluem says the 2016 capital spending range includes about $450 million to $490 million for Western Gas Partners . Anadarko Petroluem says all of $407 million of expected restructuring charges, related to its workforce reduction program, will be recognized in 2016 .Anadarko Petroluem says of the charges, about $10 million of expense for retirement benefits expected to be recognized in Q1 2017.

Sunoco LP ups quarterly distribution

Tuesday, 26 Jul 2016 04:10pm EDT

Sunoco LP : Declared a quarterly distribution for Q2 of 2016 of $0.8255 per common unit . Sunoco LP announces 1.0% increase in quarterly distribution .Board of directors of its general partner has declared a quarterly distribution for Q2 of 2016 of $0.8255 per common unit.

Marathon Petroleum enters into $2.5 bln credit agreement

Tuesday, 26 Jul 2016 04:05pm EDT

Marathon Petroleum Corp [MPC.N] : On july 20, 2016, mpc amended its existing accounts receivable securitization facility . Entered into a $2.5 billion four-year revolving credit agreement and a $1.0 billion 364-day revolving credit agreement . Mpc has an option to increase aggregate commitments by up to an additional $500.0 million . Mpc may request up to two one-year extensions of maturity date of four-year credit agreement . First amendment, among other things, reduces capacity of receivables purchase agreement to $750.0 million .First amendment has an option to increase overall receivables purchase agreement capacity by up to an additional $250.0 million.

Anadarko Petroleum Corp announces Q2 2016 results

Tuesday, 26 Jul 2016 04:05pm EDT

Anadarko announces second-quarter results : Second-Quarter sales volumes of natural gas, oil and natural gas liquids (ngls) totaled 72 million boe, or an average of 792,000 boe per day . Year to date, anadarko has generated approximately $2.5 billion in monetizations . Retired $3 billion of near-term maturities with proceeds from debt issued during q1 . Q2 total revenue $1,915 million versus $2,636 million . Increasing midpoint of full-year divestiture-adjusted sales-volume guidance by 2 million boe . Q2 revenue view $1.90 billion -- Thomson Reuters I/B/E/S . Anadarko ended q2 with approximately $1.4 billion of cash on hand. . Quarter 2016 results . Q2 loss per share $1.36 including items . Q2 earnings per share view $-0.80 -- Thomson Reuters I/B/E/S . Should commodity-price outlook improve, will evaluate redeploying some additional cash toward highest-quality u.s. Onshore opportunities .Increased high end of target range to $3.5 billion in total proceeds from monetizing assets expected by year end.

Western Gas announces second-quarter 2016 results

Tuesday, 26 Jul 2016 04:05pm EDT

Western Gas announces second-quarter results : Total throughput attributable to wes for natural gas assets for q2 of 2016 averaged 3.9 bcf/d, 2% above prior quarter . Q2 earnings per share view $0.48 -- Thomson Reuters I/B/E/S . Quarter 2016 results . Qtrly net income available to limited partners $0.55 per common unit . Total throughput for crude/ngl assets for q2 of 2016 averaged 187 mbbls/d, which was 2% above prior quarter . Qtrly total revenue $428.7 million versus $466 million .Q2 revenue view $434.1 million -- Thomson Reuters I/B/E/S.

Western Gas announces second-quarter 2016 results

Tuesday, 26 Jul 2016 04:05pm EDT

Western Gas announces second-quarter results : Total throughput attributable to wes for natural gas assets for q2 of 2016 averaged 3.9 bcf/d, 2% above prior quarter . Q2 earnings per share view $0.48 -- Thomson Reuters I/B/E/S . Quarter 2016 results . Qtrly net income available to limited partners $0.55 per common unit . Total throughput for crude/ngl assets for q2 of 2016 averaged 187 mbbls/d, which was 2% above prior quarter . Qtrly total revenue $428.7 million versus $466 million .Q2 revenue view $434.1 million -- Thomson Reuters I/B/E/S.

Valero Energy expects to see some refinery run cuts in Q3, Q4

Tuesday, 26 Jul 2016 12:27pm EDT

Valero Energy Corp ; : "We're not concerned with the funding of our capital program" - Conf Call . "Ultimately we are going to need a rebalancing and see lower refinery utilization moving forward" - Conf Call . "I do believe that you will see some refinery run cuts as we head into Q3, Q4" - Conf Call . "Quite comfortable with sustainability of our current dividend and also payout target of at least 75 percent of net income" - Conf Call . "We have no change to the strategy to grow our LP primarily through drop-downs"- Conf Call Further company coverage: [VLO.N] ((Bengaluru Newsroom: +1-646-223-8780)).

Valero Energy says fully recovered from Canada wildfires so far

Tuesday, 26 Jul 2016 12:19pm EDT

Valero Energy Corp : On Canada wildfires - "We fully recovered from those fires so far" - Conf Call Further company coverage: [VLO.N] ((Bengaluru Newsroom: +1-646-223-8780)).

ExxonMobil to expand ultra-low sulfur fuels production at Beaumont refinery

Tuesday, 26 Jul 2016 10:00am EDT

ExxonMobil Corp : ExxonMobil to expand ultra-low sulfur fuels production at Beaumont refinery . Production of ultra-low sulfur diesel and gasoline to expand by more than 40,000 barrels per day . Says construction is scheduled during second half of 2016 to install a selective cat naphtha hydrofining unit .Startup of flexible technology, known as SCANfining, is expected in 2018.

BP Q2 underlying RC profit of $720 million

Tuesday, 26 Jul 2016 02:47am EDT

Bp Plc : Upstream replacement cost (rc) loss for q2 was $109 million compared with a profit of $228 million a year ago . Upstream underlying rc profit for q2 was $29 million compared with $494 million for same period in 2015 . Upstream q2 non-operating items include a net gain of $7 million, a charge of $348 million for h1 . Total company net pre-tax charge of $5,229 million for q2 and $6,146 million for half year . Total company net cash provided by operating activities for q2 and half year was $3.9 billion and $5.8 billion respectively . 2Q16 part 1 of 1 . Q2 replacement cost (rc) loss for q2 was $2,247 million, compared with a loss of $6,266 million a year ago . Net cash provided by operating activities for q2 and half year was $3.9 billion and $5.8 billion respectively . Net debt. at 30 june 2016 was $30.9 billion, compared with $24.8 billion a year ago . Underlying rc profit for q2 was $720 million, compared with $1,313 million for same period in 2015 . Net pre-tax charge of $5,229 million for q2 and $6,146 million for half year . Company provided analyst consensus . Q2 capital expenditure on an accruals basis. for q2 was $4.2 billion compared with $4.7 billion for same period in 2015 . Quarterly dividend of 10.00 cents per ordinary share ($0.600 per ads) . Q2 downstream replacement cost profit before interest and tax for q2 $1,405 million versus $1,628 million year ago.

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Analyst Research

Report Title Price
Provider : Auerbach Grayson & Co., Inc.
$25.00
Provider : Thomson Reuters StreetEvents
$39.00
Provider : Dundee Securities Corporation
$10.00
Provider : GlobalData
$125.00
Provider : GlobalData
$125.00

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