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Valero Energy Corporation Message Board

dealindave2000 14 posts  |  Last Activity: Sep 16, 2014 10:03 AM Member since: Apr 3, 2003
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  • dealindave2000 by dealindave2000 Sep 16, 2014 10:03 AM Flag

    Price target $3. Not going to help ANR today

  • Reply to

    Teck Resources cuts met coal to China

    by dealindave2000 Sep 12, 2014 5:29 PM
    dealindave2000 dealindave2000 Sep 13, 2014 11:20 AM Flag

    did not say in article

  • dealindave2000 dealindave2000 Sep 12, 2014 6:10 PM Flag

    Maybe NG jv announcement?

  • Anyone know what catalyst he's talking about?

  • Teck Resources Ltd. (TCK/B), the world’s second-largest shipper of coal used in steelmaking, has cut the the proportion of sales destined for China amid falling prices.

    China is now the destination for about 25 percent of its metallurgical coal, down from about 30 percent a year earlier, Real Foley, Teck’s vice president of coal marketing, said today at the Coal Association of Canada’s annual conference in Vancouver.

    “It was a strategic decision,” he told reporters after his presentation, declining to elaborate further.

    The price of metallurgical coal is languishing at a six-year low amid a global oversupply. Foley said Vancouver-based Teck is running its coal mines in western Canada at less than their potential full-year capacity of 28 million metric tons.

    “Increases in exports from Australia have been larger than production cuts year-to-date,” Foley said in the presentation, referring to the overall market.

    The BHP Billiton Mitsubishi Alliance is the largest producer met coal

  • Reply to

    Greenly stickum caps

    by ah673000 Aug 19, 2014 5:29 PM
    dealindave2000 dealindave2000 Aug 21, 2014 4:19 PM Flag

    yep. Made a killing. Obviously left some on the table. Been buying coal stocks now. Figure I have to wait another year or two for another 4 bagger. AAPL was 7x.

  • Reply to

    Greenly stickum caps

    by ah673000 Aug 19, 2014 5:29 PM
    dealindave2000 dealindave2000 Aug 20, 2014 9:24 AM Flag

    Did you get any AAPL AH? New all time high :-)

  • Leaves ANR with 8,273,810 shares. Means ANR will probably participate in Rice MLP pipeline IPO at a significant level.

  • dealindave2000 by dealindave2000 Aug 11, 2014 9:00 AM Flag

    Shares up $1.50 premarket. Hope ANR has not sold yet

  • dealindave2000 by dealindave2000 Aug 10, 2014 10:35 PM Flag

    Coal output to be cut
    2014-08-11 09:21Global TimesWeb Editor: Qin Dexing
    Chinese authorities and coal industry association have persuaded domestic coal suppliers to reduce production in a bid to stabilize coal prices, the China Times newspaper reported Sunday, citing an anonymous source with the China National Coal Association (CNCA).

    The CNCA and coal authorities held several meetings with major coal firms, including China Shenhua Energy Co and China Coal Energy Co, the report said.

    As a result, Shenhua announced on August 1 that it planned to cut this year's annual production by 50 million tons, and raised its August coal prices by 4 yuan ($0.65) per ton after nearly two months of cuts.

  • KOLKATA: A consortium of Indian state-run firms has bought a bunch of once prized coal mines in Mozambique that changed hands for $3 billion in 2011 for a bargain-basement price of $50 million from global mining giant Rio Tinto. It also marks the first overseas deal of International Coal Ventures (ICVL) since it was set up in 2009 to buy mines abroad to secure the raw material needs of its members and the country's energy security.

    "It is a big day for ICVL. This is just the beginning of acquiring more mining assets abroad. It (the mines) has got reserves of 2.6 billion tonnes with 70% coking coal. The asset is going to be useful for our domestic steel industry and is in line with expansion plans of steel sector," Union Steel & Mines Minister Narendra Singh Tomar told ET.

    Of the three mines, Benga with reserves of 236 million tonnes is already operational with Tata SteelBSE 1.56 % having a 35% share of production. Two other greenfield projects, Zambeze and Tete, have proven reserves of 1,984 million tonnes and 260 million tonnes, respectively.

    The $50-million payment will be followed by an investment of around $1 billion to ramp up production over 3-4 years. ICVL plans to raise capacity of the Benga mine from the existing 5 million tonnes to 12 million

  • Used to be a good board.

  • dealindave2000 by dealindave2000 Jun 27, 2014 5:19 PM Flag

    HAYSI, Va. (AP) — More than 120 people are being laid off at an Alpha Natural Resources mine in southwest Virginia amid declining production and demand.

    The coal company said the layoffs will occur as the mine near Haysi is closed over the next two months, according to media reports.

    Thursday, 66 were laid off at the Cherokee Mine. Fifty-five will remain on the job for the next 60 days to close the mine and remove equipment, among other duties, Alpha spokesman Steve Hawkins said.

    Hawkins said the closure of the mine reflects the declining market for metallurgical coal. So-called met coal is used to make steel. It is often shipped abroad to Asian markets.

    Hawkins also said production at the mine has declined, meaning it is near the end of its life.

    “With production down, it’s more difficult to get what’s left and the cost of running the mine versus the market price of the product left it running in the red,” he said.

    The peak production of the mine was in 2007, when it produced 570,000 tons of coal. Last year, it produced about 300,000 tons and was expected to yield even less this year, Hawkins said.

    The mine opened in 1997 as part of Dickenson-Russell Coal Co.

    The closure is expected to be permanent, Hawkins said.

    “It’s difficult because it impacts men and women that work hard, and their families,” Hawkins said. “But the company felt it was necessary in this situation.”

    The closing comes a little more than a month after CONSOL Energy laid off 188 people at its Buchanan Mine in Oakwood.

    The Oakwood mine also produced met coal. The closings have sparked concern locally.

  • dealindave2000 by dealindave2000 Jun 22, 2014 11:48 AM Flag

    New Delhi:
    As a coking coal crunch in India may lead to annual imports of 180 million tonnes by 2033, acquisition of assets abroad becomes "imperative" for public and private steel companies, according to a Steel Ministry report.

    In case of coking coal, import dependence will rise significantly despite the best results from the domestic industry as its capacity to supply coking coal is not likely to increase beyond 20-25 MT, the report said.

    "This means, the industry will have to import about 180 MT coking coal annually by 2032-33 in the 7 per cent GDP growth scenario and much more if the GDP growth rate is higher," it said.

    "Due to limited availability of quality coking coal assets in the country and the oligopolistic control over global coking coal market by a few companies, acquisition of suitable coking coal assets abroad becomes imperative for the domestic steel industry."

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