Posts Tagged ‘ExxonMobil’

At the Wellhead: Indonesia tries to kickstart its faltering oil industry

The dwindling fortunes of Indonesia’s energy outlook is forcing the country to take radical steps to change its future. Mriganka Jaipuriyar, in this week’s Oilgram News column At the Wellhead, reviews some of the shifts the country is taking to overcome earlier bureaucratic hurdles.

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New Frontiers: New life for once-spurned Gulf of Mexico oil and gas leases

Starr Spencer attended last week’s Gulf of Mexico lease sale in New Orleans. She noticed something about the bidding: old, abandoned leases have gotten renewed interest. She reviews the trend in this week’s Oilgram News column, New Frontiers.

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A well-known independent oil company is getting into gas stations…sort of

A lot of integrated oil companies have split up into separate upstream and downstream companies; witness Marathon and ConocoPhillips.

Others have sold their downstream businesses piecemeal; Hess is doing that now.

At the very least, integrated oil companies like ExxonMobil have cut way back or eliminated company-owned gas stations.

But now we have a strange phenomenon: one of the nation’s best-known independent oil producers is going into the retail side of the biz.

We’re talking, of course, about Ewing Oil.

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Guest entry: Why the oil majors are getting hammered

In another of our occasional guest blog entries, Steven Kopits of the New York office of Douglas-Westwood Associates, an energy business analyst firm, looks at the relationship between the ability of an economy to shoulder a certain oil price level and what that means for the companies that produce that commodity. If you’d like the firm’s full presentation on this issue, Steve can be reached at steven.kopits@douglaswestwood.com.

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As in the second quarter of the year, third quarter results for the oil majors, the international oil companies and other major listed operators, were disappointing. Some were downright awful.

Why have results for the oil companies deteriorated so markedly, and what should we expect in the future? In this article, we’ll look primarily at upstream liquids — primarily crude oil production.

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US refining margins improving, but not for imported grades

Several oil companies this week cited lower US refining margins for a drop in third quarter earnings.

ExxonMobil Thursday, for instance, reported an 18% drop in earnings, while PBF Energy reported a Q3 operating loss. On Wednesday, Phillips 66 reported a fall in Q3 earnings, which included a refining segment loss of $2 million. All three blamed the earnings decline on a drop in refining margins, with higher crude prices and higher RINs prices eating into profits.

However, margins have been bouncing back in October, and while its too early to tell how the fourth quarter will shape up as a whole, margins are more favorable this year for refiners processing North American grades.

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At the Wellhead: Malaysia sets out a plan to reverse its oil output slide

Malaysia wants to reverse a long decline in its crude oil output. It recently completed a project that it sees as a major step in that direction. Mriganka Jaipuriyar discusses the project in this week’s Oilgram News column, At the Wellhead.

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Getting enough premium gasoline remains a grade-A challenge at the rack

OK, raise your hand if you have done one of these things, ever:

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New Frontiers: Now it’s crude oil from algae that is being tested

Turning algae into a distillate-type fuel has long been one prospective area of renewable liquid fuels; it’s even the renewable project where ExxonMobil has been the most aggressive in its investments. Turning algae into a crude-like substance is the target of another company, as Herman Wang discusses in this week’s Oilgram News column, New Frontiers.

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Pipeline moves mean uncertain future for three Canadian grades of crude oil

All the proposed pipelines across eastern Canada are capturing headlines, but are leaving three crudes out in the cold, literally.

Hibernia, Terra Nova and White Rose, the three grades produced from fields offshore Newfoundland and Labrador, have long been a part of the local market for refineries along the North American East Coast and eastern Canada.

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California gasoline demand rolls out with the surf

Aiden and Sophie are going to need to learn to get along in the back seat, because Mom and Dad are about to cut into their elbow room.

It’s just one consequence of consistently dropping gasoline demand in California: multi-car families leaving the gas hog in the garage and rolling out in the compact to shop or rush to soccer practice.

California taxed 83.627 million barrels of gasoline in January, February and March, according to the most recent set of tax statistics released by the state Board of Equalization.

That’s a 1.4% drop from the same period in 2012 and 1.8% from the first quarter of 2011. Fuel tax receipts — which California officials record to the dollar — provide a good window on demand trends.

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