Tesoro Petroleum News

Weak refining margins and low natural gas prices will drag on Q2 earnings. Integrated energy and refining companies, those with both oil and natural gas businesses, are likely headed for a disappointing earnings season as refining margins and lower natural gas prices are expected to hamper second-quarter results.

Earlier this week, major Wall Street broker Goldman Sachs decided to turn thumbs down on the oil refining group, stating that it saw "little reason for investors to own the sector." That announcement prompted a mini-selloff in the shares of independent refiners Sunoco and Tesoro , both of which got whacked with "sell" recommendations by Goldman.

Shares of San Antonio-based refiner Tesoro Corp. fell 2.1 percent Monday in New York Stock Exchange trading after Caris & Co.

U.S. stock futures point to a higher start Tuesday as a strong quarter comes to a close.

CHEVY CHASE, Md.-- --Private equity firm Global Environment Fund announced that one of its portfolio companies, Duoyuan Global Water Inc.

Goldman Sachs energy analysts issued a searing downgrade Tuesday of two of the nation's biggest independent refiners.

The late Ben Graham , author of the "Intelligent Investor" and "Security Analysis", and mentor to Warren Buffett , often advocated buying enterprises that were trading below book value.

Tesoro Corporation* refines and markets petroleum products, and provides transporting services.

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BUYINS.NET, www.buyins.net, announced today its proprietary Market Maker Friction Factor Report for June 24, 2009.

In an informal presentation, Tim Plummer, president of Tesoro Maritime Company presented crewmembers of Crowley's tug Vigilant with an award recognizing their commitment to safety and the environment by concluding 2008 with zero spills and incidents.

Tetra Tech, Inc. announced today that it has acquired three companies that expand its geographic coverage and technical services.

Valero Energy's announcement Friday it will shut a coker at its Corpus Christi, Texas, refinery on weak economics appears to be part of a growing trend among US complex refiners to battle a narrow crude spread that may remain through next year.

Refiner Valero recently warned on a weak 2nd quarter, projecting a loss of and citing extended downtime at its Delaware City and McKee refineries and the continuation of weak sour crude oil discounts and lower diesel margins.

Valero Energy Loses Money Posted Wed Jun 03, 02:19 pm ET Posted By: Sheraz Mian Valero Energy guided towards a $0.50 per share loss in the second quarter of 2009 due to a very weak operating environment and longer than expected downtime at two of its refineries.

Tesoro Corp. announced that it shutdown a refinery in Kenai, Alaska, which processes 72,000 barrel per day due to an electrical issue, according the Peninsula Clarion newspaper.

The sale includes 10-year senior notes. The joint bookrunners on the sale were JP Morgan , Bank of America , Wachovia , and RBS .

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The notes will be used for general corporate - STAMFORD, Conn.-- --Kelley Drye & Warren LLP, an international law firm, and Rocaton Investment Advisors LLC, an independent investment advisory firm that offers a unique suite of scorecards and other - 06/03/2009 - 02:35 PM Plans for Lighthouse1 User Conference and Forum Finalized MINNEAPOLIS-- ...

The Company anticipates that the offering will be completed on June 5, 2009 and intends to use the proceeds for general corporate purposes, including the repayment of indebtedness, capital expenditures and working capital.