Anyone know when turnaround scheduled?
Nice earnings report, though they had more oil in inventory than I imagined (or it's accounted for differently).
I've been buying and selling since around ex div time.
No div for me. Thought trading was a better option, but I think I'll get in on the next one.
The PADD II cs has skyrocketed from dismal to just fine and is on a steep upward trend (but not as good as the West Coast cs -wow). If turnaround has already happened, great, if not, I hope they wait as long as possible. Maybe it will go quickly because "We elected to perform a handful of maintenance activities at our St. Paul Park refinery during this time (late Q4)." (annual report )
Good luck to all
$700 ($690) MILLION in inventory non-cash inventory loss combined with a recoup gain of $280 mm in taxes-
If their cost was $100/bbl and it's now worth$50/bbl then they had 14 MILLION bbls of crude oil in storage.
NTI has about 1 MILLION bbls of crude oil storage capacity.
Why do you state that NTI held "little to no inventory"???
They have the capacity to store 800k bbls crude.
If these tanks were almost empty on 12/1 then NTI saved quite a bit of money - if they were full, the drop in inventory value would be huge ($40*800k)