Hints and tips:
...He has made billions from an unheralded refining and fertilser operation that regularly pumps cash into his publicly listed holding company, Icahn Enterprises, reports DD’s Antoine Gara....
...Much of his firepower derives from a humble source: a small oil refining and nitrogen fertiliser company in the US heartland....
...Shares in the conglomerate, which is home to a refining and car parts business as well as a portfolio of hedge fund-style investments that the octogenarian billionaire manages, have been under pressure since...
...Icahn owns about 85 per cent of Icahn Enterprises, a conglomerate spanning refining and car parts businesses, which also holds a portfolio of hedge fund-style investments that he manages....
...The rebuttal also challenged Hindenburg’s analysis that the holding company’s directly owned assets spanning refining, real estate and auto parts were overvalued....
...Sanyal said Varo’s “sustainable energies” division had already generated almost 50 per cent of earnings in 2021 but that the traditional refining and fuel distribution business was set to significantly outperform...
...Abu Dhabi is also eyeing investment of $45bn with international partners to develop refining and petrochemicals, including building the world’s largest integrated production facility in the town of Ruwais...
...The fund will buy companies that are active in all parts of the energy supply chain, from exploration and production, refining and marketing to oilfield services....
...Further assets will be targeted across the sector, from exploration and production and oil services to refining and marketing, in Europe, Asia, Africa and South America....
...Western Gas Refining LP sold itself to Andeavor Logistics LP in late 2017. We can see how the value of the initial $18m worth of units from Mr Stevens has eroded....
...The fund will buy companies active in the energy supply chain and will make acquisitions of assets — in exploration and production, refining and marketing as well as oilfield services — through them....
...That said, refining will forever be a cyclical business where excess capacity rarely disappears completely....
...The US has faced a growing fuel crunch since Harvey knocked out almost a quarter of all US refining capacity as it churned across Texas and into Louisiana....
...“We look at integrating into the downstream a little further, integrating into refining a bit,” he was quoted as saying by Bloomberg....
...A filing from CVR’s refining partnership disclosed a net gain of $6.4m from Rins in the quarter ended March 31....
...Aramco may also say more about opportunities for expansion in the US by Motiva, its refining subsidiary....
...As reports of the putative change emerged on Tuesday morning, shares in CVR rose about 4 per cent, while Valero Energy, another refining company that has also argued for the rule change, rose about 3 per...
...Refining is the division that represents most of Marathon’s profits. Elliott has pushed hard on an open door. Marathon has not let down its shareholders....
...decrease of 2.4 per cent in employee compensation costs, a decrease of 11.1 per cent in exploration expenditures, a decrease of 8.2 per cent in oil and gas lifting cost and a decrease of 4.4 per cent in oil refining...
...Husky chief executive Asim Ghosh said the group will “maintain operatorship and preserve the tight integration between our heavy oil production, marketing and refining assets,” as part of the deal....
...Net income at Chinese state-owned oil company Sinopec fell more than 30 per cent in 2015 to the lowest level in more than five years, although it still topped analyst forecasts as refining revenues helped...
...While Exxon has not been immune from the turmoil, strength in its refining business has helped ease some of the pain that the crude price slump has inflicted on its production business....
...The sharp falls have come even as the oil major has benefited from the strength of its refining division, which was boosted by higher margins as the price of crude fell further than that of refined products...
...The only energy company in which Mr Icahn holds a significant stake and where he is up on the deal is CVR Energy, which focuses on oil refining....
...If the refining sector is left hanging with sums it can’t shift domestically, this might see international markets flooded with Chinese refined fuels instead. Either way, one thing is sure....
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