Edition:
United States

Oil & Gas Refining and Marketing

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Sasol Ltd says will not invest in further greenfields gas-to-liquids projects

Thursday, 23 Nov 2017 01:00am EST

Nov 23 (Reuters) - SASOL LTD ::TO DATE, SASOL HAS COMPLETED REVIEWS ON MORE THAT HALF OF ITS GLOBAL ASSETS.REVIEWS HAVE CONFIRMED THAT THE MAJORITY OF THE CO’S ASSETS WILL BE RETAINED.REVIEWS CONDUCTED IDENTIFY CANADIAN SHALE GAS ASSET AS BEING NON-CORE; WILL COMMENCE DIVESTMENT PROCESS INVOLVING PARTNER PROGRESS ENERGY.IN CO'S CHEMICALS BUSINESS, WILL PROGRESSIVELY GROW ITS PORTFOLIO OF SPECIALTY CHEMICALS.ON THE UPSTREAM FRONT, WILL PURSUE GROWTH IN E&P BOTH IN MOZAMBIQUE AND IN SELECTED COUNTRIES IN WEST AFRICA.IN THE 2022 PLUS TIMEFRAME, CONFIDENT THAT WILL BE IN A POSITION TO INCREASE DIVIDEND PAYOUT TO 45 PERCENT OR 2,2 TIMES COVER.WILL NOT INVEST IN FURTHER GREENFIELDS GAS-TO-LIQUIDS (GTL) PROJECTS; WILL NO LONGER PURSUE PROPOSED GTL PROJECT IN THE US.VALUE PROPOSITION FOR CO TO BUILD NEW GTL PROJECTS IS "UNECONOMIC" AGAINST A VOLATILE EXTERNAL ENVIRONMENT.DECIDED NOT TO INVEST IN ANY ADDITIONAL CRUDE OIL REFINING CAPACITY.

North-Star International merges with wholly owned unit

Thursday, 16 Nov 2017 02:51am EST

Nov 16(Reuters) - North-Star International Co Ltd <8927.TWO> ::Says it merges with its wholly owned gas station related business unit, on Nov. 8.The unit will be dissolved after transaction .

Clean Energy Fuels reports Q3 ‍non-GAAP loss per share $0.61 per share

Thursday, 2 Nov 2017 04:00pm EDT

Nov 2 (Reuters) - Clean Energy Fuels Corp :Clean Energy Fuels Corp moves to streamline operations; volumes continue to grow in the third quarter of 2017.Clean Energy Fuels Corp - ‍closing 42 underperforming and unprofitable stations​.Clean Energy Fuels Corp - ‍q3 actions resulted in incremental charges of $73.8 million​.Clean Energy Fuels Corp - ‍reducing annual selling, general and administrative expenses by approximately $15 million​.Clean Energy Fuels Corp - ‍positioning its compressor business to benefit from consolidation in natural gas compressor sector​.Clean Energy Fuels Corp - ‍revenue for q3 of 2017 was $81.8 million, a 15.7% decrease from $97.0 million of revenue for q3 of 2016​.Clean Energy Fuels Corp - ‍on a GAAP basis, net loss for q3 of 2017 was $94.1 million, or $0.62 per share​.Q3 earnings per share view $-0.13, revenue view $84.3 million -- Thomson Reuters I/B/E/S.Clean Energy Fuels Corp - ‍non-GAAP loss per share for q3 of 2017 was $0.61 per share​.

Exxon Mobil reports Q3 earnings per share of $0.93

Friday, 27 Oct 2017 08:00am EDT

Oct 27 (Reuters) - Exxon Mobil Corp ::Exxon Mobil earnings rise 50 percent to $4 billion on solid business performance.Q3 earnings per share $0.93.Q3 2017 ‍earnings of $4 billion increased 50 percent from q3 of 2016​.Says Hurricane Harvey reduces earnings by an estimated $160 million, or 4 cents per share in quarter​.Quarterly total revenues and other income $‍66,165​ million versus $58,677 million.Quarterly ‍liquids production totaled 2.3 million barrels per day, up 69,000 barrels per day​.Q3 2017 ‍capital and exploration expenditures were $6 billion, including an aromatics plant acquisition in Singapore​.Quarterly ‍cash flow from operations and asset sales increased 33 percent to $8.4 billion​.Quarterly ‍oil-equivalent production was 3.9 million barrels per day, up 2 percent from prior year​.Quarterly ‍natural gas production was 9.6 billion cubic feet per day, down 16 million cubic feet per day​.Quarterly worldwide refinery throughput ‍4,287​ kbd versus. 4,365 kbd.Says ‍upstream earnings were $1.6 billion in Q3 of 2017, up $947 million from Q3 of 2016​.Quarterly ‍chemical earnings of $1.1 billion were $79 million lower than Q3 of 2016​.Quarterly ‍downstream earnings were $1.5 billion, up $303 million from Q3 of 2016.Q3 earnings per share view $0.86, revenue view $63.39 billion -- Thomson Reuters I/B/E/S​​.CEO Darren Woods - "‍generated cash flow from operations and asset sales that more than covered our dividends and net investments in business​".

Suncor expects Fort Hills project to operate at 90 pct capacity by Q4 2018

Thursday, 26 Oct 2017 10:37am EDT

Oct 26 (Reuters) - Suncor Energy : :CEO says company has made progress towards resolving commercial dispute with Fort Hills partner Total SA <<>>.Expects to be operating 190,000 bpd Fort Hills oil sands plant at 90 percent capacity by this time next year .Suncor CEO expects 2018 capital spending to be in C$4.5 billion to C$5 billion range.CEO says unit 1 upgrader at oil sands base plant will undergo major turnaround next year, maintenance also planned at Edmonton refinery.CEO says looking at using automated vehicles at Fort Hills oil sands plant to help reduce operating costs.Says once Fort Hills operating, company will sell nearly 200,000 bpd of its production to third parties.

RCom says 4G strategy to be executed via spectrum sharing, intracircle roaming with Jio

Wednesday, 25 Oct 2017 08:26am EDT

Oct 25 (Reuters) - Reliance Communications Ltd :Says ‍decided to adopt 4G-focussed strategy for profitable growth of its wireless business​.Co will be optimizing its 2G and 3G footprint, related infrastructure and human resources, w.e.f Nov 30.Reliance communications says 4G strategy to be executed through spectrum sharing and intracircle roaming with Reliance Jio.

SUPERIOR PLUS ANNOUNCES ACQUISITION OF INTERNATIONAL DIOXCIDE

Friday, 13 Oct 2017 09:20am EDT

Oct 13 (Reuters) - Superior Plus Corp ::SUPERIOR PLUS ANNOUNCES ACQUISITION OF INTERNATIONAL DIOXCIDE, INC. EXPANDING ITS SPECIALTY CHEMICALS BUSINESS.‍PURCHASE PRICE OF DEAL WILL BE FUNDED BY DRAWING ON SUPERIOR'S EXISTING CREDIT FACILITY​.‍ENTERED INTO AN AGREEMENT TO ACQUIRE ALL OF ISSUED AND OUTSTANDING SHARES OF INTERNATIONAL DIOXCIDE FROM LANXESS CORPORATION​.

Rubis buys Corsica fuel distribution business and associated logistics from EG Retail

Tuesday, 3 Oct 2017 11:35am EDT

Oct 3 (Reuters) - RUBIS SCA ::RUBIS TO BUILD UP ITS FUEL DISTRIBUTION ACTIVITY IN CORSICA.SIGNS AGREEMENT TO BUY FROM EG RETAIL (FRANCE) SAS ITS FUEL DISTRIBUTION BUSINESS BASED IN CORSICA AS WELL AS ASSOCIATED LOGISTICS.THIS WILL POSITIVELY CONTRIBUTE TO CO PROFITABILITY AS SOON AS TRANSACTION IS COMPLETED BY END OCT. .‍​.

Gen III Oil reaches purchase and sale agreement estimated in excess of $760 mln with Elbow River Marketing

Thursday, 14 Sep 2017 09:00am EDT

Sept 14 (Reuters) - Gen III Oil Corp ::Gen III Oil Corp. reaches purchase and sale agreement estimated in excess of $760mm with elbow river marketing ltd..Gen III Oil Corp - under terms of PSA, Elbow River will purchase majority of Gen III's bowden plant production.Gen III Oil Corp - signing of purchase and sale agreement with Elbow River Marketing Ltd. for majority of Gen III's finished products.

Mitsuuroko Group Holdings says integration of units

Wednesday, 13 Sep 2017 04:19am EDT

Sept 13 (Reuters) - Mitsuuroko Group Holdings Co Ltd <8131.T>:Says co plans to set up a Tokyo-based wholly owned unit in September .Says co will transfer all shares of Mitsuuroko Provisions Co,Ltd, SWEETSTYLE Co.,Ltd and Mitsuuroko Beverage Co.,Ltd to the Tokyo-based new unit on Oct. 1.Previous news was disclosed on April 27 .

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