The States with the Cheapest Gas
Jon OggSince June, gasoline prices have climbed more or less steadily and are now 35 cents per gallon higher than they were a year ago. According to AAA’s daily fuel gauge report, which measures…
Energy
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Newest first · Page 350A Value Opportunity: Refining Stocks Go for the Glory (VLO, MPC, PSX, TSO, WNR, HFC)
It’s been a good year for refining stocks. Six large independent refiners are posting 12-month gains of between about 40% and 140%. All six — Valero Energy Corp. (NYSE: VLO), Marathon Petroleum Corp. (NYSE:…
Crude Oil Supplies Drop, Gasoline Inventories Up Slightly
The U.S. Energy Information Administration (EIA) released its weekly petroleum status report this morning. U.S. commercial crude inventories fell by 500,000 barrels last week, bringing the total U.S. commercial crude inventory to 364.7 million…
Petrobras Aims to Sell Gulf of Mexico Assets
Petroleo Brasileiro SAThe CEO of Petroleo Brasileiro S.A. (NYSE: PBR), or Petrobras, says the company is “very near to closing a deal” for the sale of some $6 billion worth of assets in the…
Gasoline Prices Tick Higher
The drop in gasoline prices is over for now. The average per-gallon price of regular nationwide, according to the AAA Fuel Gauge, was $3.782, compared to $3.780 the day before and $3.805 a month…
Demand for Midwater Rigs to Rise (RIG, DO, ESV, NE)
In a note today, Credit Suisse talked up the coming demand for offshore drilling rigs designed for water depths of 1,000 feet to 3,600 feet. The analysts claim that incremental demand for 13 new…
Transocean Gets Reprieve in Brazil
Deepwater drilling company Transocean Ltd. (NYSE: RIG) said yesterday that Brazil’s Superior Court of Justice has granted a request from the country’s oil regulatory body partially to suspend the temporary injunction that would have…
Honeywell Acquires Gas Processing Technology Firm
UOP LLC, a wholly-owned subsidiary of Honeywell International Inc. (NYSE: HON), today announced that it is acquiring a 70% stake in Thomas Russell Co., a technology and equipment company in the area of natural…
Ferrellgas Partners Sputters in Its Fiscal Fourth Quarter
Ferrellgas Partners L.G. (NYSE: FGP) has reported a net loss of $0.45 per unit on revenue of $341.8 million for the fiscal fourth-quarter 2012. In the same period a year ago, the American propane…
U.S.-BP Spill Settlement Stalled
Settlement talks are at a standstill between the U.S. government and BP PLC (NYSE: BP) related to the April 2010 Gulf of Mexico disaster that killed 11 workers and dumped 5 million barrels of…
Transocean Ordered to Quit Brazil
Offshore driller Transocean Ltd. (NYSE: RIG) said today that the company has been served with a temporary injunction by a federal court in Rio de Janeiro requiring that the company cease its Brazilian operations…
New Wyoming Fracking Test Results Consistent — EPA
ThinkstockWhen the U.S. EPA released its first study of possible groundwater contamination near Pavillion, Wyoming, last December, Encana Corp. (NYSE: ECA) said the results didn’t prove anything. At issue was the possibility of contamination…
Natural Gas Inventory Rises as Expected
The U.S. Energy Information Administration (EIA) today reported the U.S. natural gas stocks rose by a total of 80 billion cubic feet, somewhat higher than the 76 billion cubic feet that analysts were expecting.…
Crude Oil Supplies Drop Unexpectedly
The U.S. Energy Information Administration (EIA) released its weekly petroleum status report this morning. U.S. commercial crude inventories fell by 2.45 million barrels last week, bringing the total U.S. commercial crude inventory to 365.2…
Oil and Gas Short Interest Follows Crude Pricing (BHI, BP, CHK, CVX, COP, EPD, XOM, KMI, NOV, PSX, SLB, RIG, VLO)
Short interest in the oil services companies has risen, while one of the two refiners on our list -- Phillips 66 -- posted a substantial drop in short interest. As crude prices decline, refiners…