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Author Topic: Tesoro EPS Tops But Tight Refinery Margins Continue Read More At Investor's Business Daily: http:// Back to Topics
DoctorV

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Detroit

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Message Posted: May 1, 2014 11:39:05 AM

Tesoro and its petroleum logistics assets MLP Tesoro Logistics LP reported earnings above analysts estimates late Wednesday.

Tesoro said first-quarter EPS fell 2.7% to 71 cents per share.

The refiner's operating income fell 11% to to $264 million on weaker margins.

Weaker margins have been a theme for refiners as new pipelines have eased the oil backup in Cushing, Okla., sending more crude flowing to the Gulf of Mexico and making crude more expensive.

Earlier Wednesday Phillips 66 Q1 EPS fell 33% to $1.47...The company cited tightening margins as a reason for the decline in earnings. Phillips 66 shares fell 0.6% Wednesday. Refining giant Valero and U.K. oil major BP also cited narrowing refining margins earlier this week.


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NHLiveFree
Champion Author New Hampshire

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Message Posted: May 2, 2014 1:50:42 AM


"Tight refinery margins" is such an industry 'fairy tale' as they share in the oil industry record profits.
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DanMtz
Champion Author Oakland

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Message Posted: May 1, 2014 7:44:01 PM

Gas is at a 2 year high around here and the price of oil is dropping. I think refineries have to be doing just fine.
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DLCarpernet
Champion Author Phoenix

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Message Posted: May 1, 2014 4:39:43 PM

But they're still making money.
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humblepie
Champion Author Toledo

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Message Posted: May 1, 2014 12:01:06 PM

their jobs are safe i think
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