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Penn West Petroleum Ltd. Message Board

  • spinergy888 spinergy888 Feb 4, 2013 8:17 PM Flag

    Valero CEO

    Despite the current headwinds created by the transportation issues I think cost differential with WTI will decline sooner than people think because it is too much in the interest of the refiners to obtain it. Like the possible reversal of Capline pipeline by Marathon. I also like this comment by the Valero CEO:

    The same theme of surging profitability of refining operations was also reverberated by several pure-play U.S. refiners. Valero Energy (VLO), reported a nearly 23-fold increase in fourth-quarter earnings, from $0.08 per share in 2011 to $1.82 per share in 2012. The earnings surge was a result of the substitution of more expensive imported oil for the cheaper U.S. crude supplies from shale formations. In a conference call, the company's management suggested that this trend of cost reductions and a consequent margin expansion could continue: "Since we expect U.S. and Canadian crude oils to become increasingly more available, we are pursuing options to process additional volumes of these cost-advantaged crudes throughout our refining system."

    Sentiment: Strong Buy

9.19-0.01(-0.11%)Jul 23 4:02 PMEDT

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