SYS-CON MEDIA Authors: Liz McMillan, Xenia von Wedel, Peter Silva, Glenn Rossman, Ava Smith

News Feed Item

Mergers and Acquisitions, Expansions Seen to Drive Growth for Independent Oil and Gas Refiners - Research Report on Valero Energy, Tesoro, Marathon Oil, Calumet Specialty Products, and Ferrellgas

Editor Note: For more information about this release, please scroll to bottom.

NEW YORK, June 14, 2013 /PRNewswire/ --

Today, Wall Street Reports announced new research reports highlighting Valero Energy Corporation (NYSE:VLO), Tesoro Corporation (NYSE:TSO), Marathon Oil Corporation (NYSE:MRO), Calumet Specialty Products Partners LP (NASDAQ:CLMT), and Ferrellgas Partners LP (NYSE:FGP). Today's readers may access these reports free of charge - including full price targets, industry analysis and analyst ratings - via the links below.

Valero Energy Corporation Research Report

On May 29, 2013, Reuters reported that independent U.S. refiner Valero Energy Corporation (Valero) intends to spend up to $190 million to enable its Quebec refinery to use cheaper Western Canadian crude rather than relying on pricier imports. Valero will build a rail off-loading facility at its 265,000-barrel per day Jean Gaulin refinery in Levis, Quebec, and expand the terminal at its Montreal East facility, in anticipation of the proposed reversal of Enbridge Inc.'s Line 9 pipeline connecting Ontario and Quebec. A reversed Line 9 would transport up to 300,000 bpd, and ship western Canadian crude eastward rather than transporting more expensive Brent crude oil from the North Sea, West Africa and the Middle East in a westbound direction. The Full Research Report on Valero Energy Corporation - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.wsreports.com/r/full_research_report/335e_VLO]

--

Tesoro Corporation Research Report

On June 3, 2013, Tesoro Corporation (Tesoro) announced that it has completed the acquisition of British Petroleum (BP)'s fully integrated Southern California Refining and Marketing business for a little over $1 billion. The acquired assets include the 266 thousand barrel per day (mbpd) high conversion Carson refinery and over 800 dealer operated retail stations. On the same day, the Company announced that its subsidiary, Tesoro Logistics LP closed the acquisition of the first portion of the integrated Carson logistics assets for $640 million. The acquisition includes six marketing and storage terminal facilities with a total combined throughput capacity of about 225 mbpd and approximately 6.4 million barrels of total storage capacity. The remaining Carson logistics assets, consisting of dedicated storage capacity, pipelines and marine terminals, are expected to be offered to TLLP within 12 months, and have an expected market value of between $450 and $550 million. The Full Research Report on Tesoro Corporation - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.wsreports.com/r/full_research_report/0fe6_TSO]

--

Marathon Oil Corporation Research Report

On May 23, 2013, Marathon Oil Corporation (Marathon Oil) announced that talks on a potential sale of part of its stake in the Athabasca Oil Sands Project in Canada have ended as the Company could not arrive at an agreement with the prospective purchaser and negotiations were terminated. The Athabasca project is a joint venture between Marathon Oil, Royal Dutch Shell Plc and Chevron Corp. that extracts a thick form of crude known as bitumen from sand formations. Shell holds a 60% stake and serves as the project's operator. Meanwhile, the Company intends to continue with its plan to sell assets between $1.5 billion and $3 billion under its three-year asset sale program that ends in 2013. Till date, it has announced or closed about $1.3 billion asset sale deals. The Full Research Report on Marathon Oil Corporation - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.wsreports.com/r/full_research_report/5a8c_MRO]

--

Calumet Specialty Products Partners LP Research Report

On May 8, 2013, Calumet Specialty Products Partners LP (Calumet) released its Q1 2013 results, posting net income of $46.0 million, down from $51.9 million in Q1 2012 and revenue of $1.3 billion, up from $1.2 billion in Q1 2012. "Although our results were adversely impacted by reliability issues at our Shreveport refinery during the first quarter, the second quarter is off to a good start, supported by strong refining economics and improved utilization at our key production facilities," said Vice President and CEO, Bill Grube. "Beginning in early April, both demand and pricing for products sold in our core markets improved above first quarter levels." During the quarter, the Company declared a quarterly cash distribution of $0.68 per share ($2.72 on an annualized basis) on all outstanding limited partner units, or $51.9 million. The Full Research Report on Calumet Specialty Products Partners LP - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.wsreports.com/r/full_research_report/f00f_CLMT]

--

Ferrellgas Partners LP Research Report

On June 6, 2013, Ferrellgas Partners LP (Ferrellgas) released its Q3 FY 2013 (period ended July 31, 2013) results, posting net income of $44.2 million or $0.56 per share, up from $20.6 million or $0.26 per share in Q3 FY 2012, while revenue came in at $603.0 million, down 4.2% YoY from $629.6 million in Q3 FY 2012 on lower propane sale prices to customers. Meanwhile, analysts polled by FactSet had expected earnings of $0.49 per share on $577.3 million in revenue. "We are extremely proud of our operational and financial performance this year as it is indicative of what our operations are capable of producing for investors in a more normal operating environment," said President and CEO Steve Wambold. The Full Research Report on Ferrellgas Partners LP - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.wsreports.com/r/full_research_report/68aa_FGP]

----

EDITOR NOTES:

  1. This is not company news. We are an independent source and our views do not reflect the companies mentioned.
  2. Information in this release is fact checked and produced on a best efforts basis and reviewed by a CFA. However, we are only human and are prone to make mistakes. If you notice any errors or omissions, please notify us below.
  3. This information is submitted as a net-positive to companies mentioned, to increase awareness for mentioned companies to our subscriber base and the investing public.
  4. If you wish to have your company covered in more detail by our team, or wish to learn more about our services, please contact us at [email protected].
  5. For any urgent concerns or inquires, please contact us at [email protected].
  6. Are you a public company? Would you like to see similar coverage on your company? Send us a full investors' package to [email protected] for consideration.

COMPLIANCE PROCEDURE

Content is researched, written and reviewed on a best-effort basis. This document, article or report is prepared and authored by Equity News Network. An outsourced research services provider has, through Chartered Financial Analysts, only reviewed the information provided by Equity News Network in this article or report according to the Procedures outlined by Equity News Network. Equity News Network is not entitled to veto or interfere in the application of such procedures by the outsourced provider to the articles, documents or reports, as the case may be.

NOT FINANCIAL ADVICE

Equity News Network makes no warranty, expressed or implied, as to the accuracy or completeness or fitness for a purpose (investment or otherwise), of the information provided in this document. This information is not to be construed as personal financial advice. Readers are encouraged to consult their personal financial advisor before making any decisions to buy, sell or hold any securities mentioned herein.

NO WARRANTY OR LIABILITY ASSUMED

Equity News Network is not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted by Equity News Network whatsoever for any direct, indirect or consequential loss arising from the use of this document. Equity News Network expressly disclaims any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Equity News Network does not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.


SOURCE Wall Street Reports

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
The Domain Name Service (DNS) is one of the most important components in networking infrastructure, enabling users and services to access applications by translating URLs (names) into IP addresses (numbers). Because every icon and URL and all embedded content on a website requires a DNS lookup loading complex sites necessitates hundreds of DNS queries. In addition, as more internet-enabled ‘Things' get connected, people will rely on DNS to name and find their fridges, toasters and toilets. Acco...
"Cloud consumption is something we envision at Solgenia. That is trying to let the cloud spread to the user as a consumption, as utility computing. We want to allow the people to just pay for what they use, not a subscription model," explained Ermanno Bonifazi, CEO & Founder of Solgenia, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Scott Jenson leads a project called The Physical Web within the Chrome team at Google. Project members are working to take the scalability and openness of the web and use it to talk to the exponentially exploding range of smart devices. Nearly every company today working on the IoT comes up with the same basic solution: use my server and you'll be fine. But if we really believe there will be trillions of these devices, that just can't scale. We need a system that is open a scalable and by using ...
The Internet of Things is tied together with a thin strand that is known as time. Coincidentally, at the core of nearly all data analytics is a timestamp. When working with time series data there are a few core principles that everyone should consider, especially across datasets where time is the common boundary. In his session at Internet of @ThingsExpo, Jim Scott, Director of Enterprise Strategy & Architecture at MapR Technologies, discussed single-value, geo-spatial, and log time series dat...
The term culture has had a polarizing effect among DevOps supporters. Some propose that culture change is critical for success with DevOps, but are remiss to define culture. Some talk about a DevOps culture but then reference activities that could lead to culture change and there are those that talk about culture change as a set of behaviors that need to be adopted by those in IT. There is no question that businesses successful in adopting a DevOps mindset have seen departmental culture change, ...
High-performing enterprise Software Quality Assurance (SQA) teams validate systems that are ready for use - getting most actively involved as components integrate and form complete systems. These teams catch and report on defects, making sure the customer gets the best software possible. SQA teams have leveraged automation and virtualization to execute more thorough testing in less time - bringing Dev and Ops together, ensuring production readiness. Does the emergence of DevOps mean the end of E...
"For the past 4 years we have been working mainly to export. For the last 3 or 4 years the main market was Russia. In the past year we have been working to expand our footprint in Europe and the United States," explained Andris Gailitis, CEO of DEAC, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
"Verizon offers public cloud, virtual private cloud as well as private cloud on-premises - many different alternatives. Verizon's deep knowledge in applications and the fact that we are responsible for applications that make call outs to other systems. Those systems and those resources may not be in Verizon Cloud, we understand at the end of the day it's going to be federated," explained Anne Plese, Senior Consultant, Cloud Product Marketing at Verizon Enterprise, in this SYS-CON.tv interview at...
Enthusiasm for the Internet of Things has reached an all-time high. In 2013 alone, venture capitalists spent more than $1 billion dollars investing in the IoT space. With "smart" appliances and devices, IoT covers wearable smart devices, cloud services to hardware companies. Nest, a Google company, detects temperatures inside homes and automatically adjusts it by tracking its user's habit. These technologies are quickly developing and with it come challenges such as bridging infrastructure gaps,...
P2P RTC will impact the landscape of communications, shifting from traditional telephony style communications models to OTT (Over-The-Top) cloud assisted & PaaS (Platform as a Service) communication services. The P2P shift will impact many areas of our lives, from mobile communication, human interactive web services, RTC and telephony infrastructure, user federation, security and privacy implications, business costs, and scalability. In his session at @ThingsExpo, Robin Raymond, Chief Architect...
SYS-CON Media announced that Centrify, a provider of unified identity management across cloud, mobile and data center environments that delivers single sign-on (SSO) for users and a simplified identity infrastructure for IT, has launched an ad campaign on Cloud Computing Journal. The ads focus on security: how an organization can successfully control privilege for all of the organization’s identities to mitigate identity-related risk without slowing down the business, and how Centrify provides ...
SAP is delivering break-through innovation combined with fantastic user experience powered by the market-leading in-memory technology, SAP HANA. In his General Session at 15th Cloud Expo, Thorsten Leiduck, VP ISVs & Digital Commerce, SAP, discussed how SAP and partners provide cloud and hybrid cloud solutions as well as real-time Big Data offerings that help companies of all sizes and industries run better. SAP launched an application challenge to award the most innovative SAP HANA and SAP HANA...
"SAP had made a big transition into the cloud as we believe it has significant value for our customers, drives innovation and is easy to consume. When you look at the SAP portfolio, SAP HANA is the underlying platform and it powers all of our platforms and all of our analytics," explained Thorsten Leiduck, VP ISVs & Digital Commerce at SAP, in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
"We help companies that are using a lot of Software as a Service. We help companies manage and gain visibility into what people are using inside the company and decide to secure them or use standards to lock down or to embrace the adoption of SaaS inside the company," explained Scott Kriz, Co-founder and CEO of Bitium, in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at Internet of @ThingsExpo, James Kirkland, Chief Ar...