Updated Research on Marathon Oil – Refineries in Troubled Waters
www.wallstreetequityresearch.com helps investors assess the oil and gas industry fundamentals and the study of the major changes companies like Marathon Oil Corp. and Valero Energy Corp. Register now covering www.wallstreetequityresearch.com order to receive free research on this oil refineries.
The weak U.S. economic recovery is affecting oil refineries in the U.S. although a number of refineries in the quarter are expected to deliver positive results after a series of quarterly losses almost one year. Fuel prices are surprisingly on a downward trend this summer crushed by petty questions, which resembles a direct indication that unemployment in the U.S. continues to weigh on the economy. The Energy Information Administration recently announced that U.S. oil refinery was in a freefall for the first time since 2003. This decrease in capacity can be mainly attributed to the closure of two refineries located in New Jersey and Delaware, which, respectively, Sunoco and Valero Energy. The isolation of these two refineries resulted in a combined capacity reduction amounting to a total of 327,000 bpd, which was however partially offset by the expansion of Marathon Oil Corp. (NYSE: MRO) refinery in Louisiana. Free entrance examination to Marathon Oil Corporation today by signing up http://wallstreetequityresearch.com/July162010MarathonOilCorporation (MRO) 160710.php Read more
NAL Oil & Gas Trust Announces June Distribution and Attendance at the 2010 CAPP Oil & Gas Investment Symposium
NAL Oil & Gas Trust (the “Trust” or “NAL”) (TSX: NAE.UN) pays a payment of $ 0.09 per unit on 07/15/2010, to unitholders of record on 22.06.2010. The units will begin trading on an ex-distribution basis on June 18, 2010.
The current monthly distribution annualized is $ 1.08 per unit, representing a 9.9% cash-on-cash return based on the 07/06/2010 closing unit price of $ 10.95.
NAL the board determines the allocation levels taking account of commodity prices, the Trust’s cash position, financial market conditions, availability of financing, internal capital investment opportunities and load.
NAL is also pleased to announce that Mr. Andrew Wiswell, President & CEO will make a presentation at the Canadian Association of Petroleum Producers annual Investment Symposium on Monday, 14/06/2010 at 9:15 MDT. Investors are invited to a live webcast of this presentation at: http://gowebcasting.com/c1536 watch. Read more
BP captures more oil from the Gulf of Mexico and broken
containment cap of BP is to capture an increasing amount of oil spewing from a break in the Gulf of Mexico as well, but the admiral leading the U.S. government’s relief effort, said Sunday the coast is under siege by the massive spill for many months.
BP said its latest effort had captured 10,500 barrels of oil (439,950 gallons/1.67 million liters) in 24 hours and a second containment system should enable it to quickly control the vast majority of oil spitting from the flight of about one mile below the surface of the water.
The progress came as Chief Executive Tony Hayward said he did not intend to quit over his handling of environmental catastrophe marked by a series of failures since the explosion April 20 platform, which triggered the oil spill.
Thad Allen, Coast Guard admiral leading the relief effort of the federal government has estimated the maximum collection of the containment device to about 15,000 barrels per day. Estimates of leakage from the well to 12,000 to 19,000 barrels per day.
Despite the progress, “Allen said CBS” Face the Nation “program:” This will end only when we intercept the borehole, mud pumps to overcome the low oil pressure coming up from the tank and place a cap cement … ”
“This will continue until the fall,” he said. “This is a seat in the entire Gulf. The spill is everyone hostage, not only economically, but physically, and must be attacked on all fronts. ”
For many in Florida, the disaster of the man on the environment is the latest in a series of disastrous events to get residents enclave of hurricanes in the collapse of the housing market. Read more
Oil falls 4 percent as U.S. jobs data hits markets
Oil prices fell 4 % on Friday, slipping below 7 dollars 2 da barrel as disappointing U.S. employment data and fears about bank charges Europe woes spread made investors to take risks and uneasy economic recovery.
non-farm payrolls in the United States rose 431,000 in May, well below the 513,000 analysts had expected, despite heavy government hiring for the census. Growth in private sector employment has slowed sharply.
“We expected greater growth in private employment and the figure seems relatively low,” said Christopher Barrett, oil analyst at Credit Agricole.
U.S. light crude fell $ 3.10 in July, or 4.15 percent, to $ 71.51 dollars a barrel, the lowest since May 26 It fell as low as $ 70.79 in post-settlement trade. ICE Brent fell $ 3.32 to settle at $ 72.09.
“Oil was some support earlier this week in the hope that the positive U.S., particularly the improvement of the application, may offset weakness in other economies, but the jobs report reduced expectations the market, “said Phil Flynn, analyst at PFGBest Research in Chicago. Read more
Federal Gas Tax Fund Supports Improvements to Otonabee River Trail in Peterborough
Residents of the city of Peterborough have a greater opportunity to be active and enjoy the outdoors thanks to an investment of $ 1,290,000 from the Federal Fund for the tax on gasoline. The funding was used to construct a critical section of the Otonabee River Trail that will connect Millennium Park to Del Crary Park along the waterfront of Peterborough. The waterfront will be accessible and attractive for public use and enjoyment.
“Our government is proud to be part of projects like this, designed to enhance the beauty of this great city and create economic opportunities and recreational activities for residents,” said MP Dean Del Mastro, MP for Peterborough. “Local infrastructure projects are at the heart of the Federal Fund tax on gasoline, which will help stimulate the local economy, create jobs and serve people for years to come.”
“The Otonabee River Trail provide direct access and circulation between the Millennium Park in downtown and Del Crary Park, which hosts various events, including Little Lake Musicfest, said Mayor Paul Ayotte.” The Linking these two parks Premier offers better access to recreational activities, and serve to attract visitors to the city center for economic benefit. ” Read more
Oman Oil buys 30 pct stake in Vale Omani subsidiary
Oman Oil Company signed an agreement to buy out 30 per cent Vale pellet Oman Company LLC (VOPC), the statement said. The plant Vale, based in Sohar, has annual production capacity of 9,000,000 tons of iron ore pellets.
It will be fully commissioned by mid 2011.
Oman bank foreign companies to establish projects in the country to diversify its economy, which depends heavily on oil exports.
On Saturday, Oman said France GDF Suez is building two power projects amounted to 1.82 billion. GDF Suez will own and operate power plants in a 15-year agreement signed with the government. (Reporting by Saleh al-Shaibany; Editing: Michael Perry)
