India's Reliance Industries Ltd , operator of the world's largest refining complex, on Thursday said it will consider buying Venezuelan oil if permitted for sale to non-US buyers. ...

Valero Energy Corporation (NYSE:VLO) is one of the stocks Jim Cramer offered insights on. Cramer highlighted the company while discussing the opportunity for US refiners, as he stated: “The US refiners, especially Valero, may be a big beneficiary of that oil because they still have refineries that can handle what’s known as heavy crude. That’s what Venezuela produces. Valero, Phillips 66, and Marathon Petroleum could be big winners in the US, but only if they can divert that oil to the Gulf. Who knows? Ve ...

Core Insights - Phillips 66 (PSX) has agreed to acquire the assets and infrastructure of the Lindsey Oil Refinery in the U.K., pending regulatory approvals and other closing conditions [1][6] - The refinery was auctioned in June 2025 after its previous owner went bankrupt, with PSX emerging as the winning bidder [1][6] Company Strategy - Phillips 66 will not reopen the Lindsey Oil Refinery as an independent operational facility but will integrate key assets, particularly storage and infrastructure, into its Humber Refinery operations due to the site's unviability in its current form [2] - This integration is expected to enhance the U.K.'s energy security by increasing fuel production and supply from the Humber Refinery while preserving high-quality jobs [3] Financial Implications - The acquisition and integration are anticipated to generate additional cash flow, contributing to business stability for Phillips 66 [3] - Phillips 66 is positioned to expand into cleaner fuels while continuing to supply conventional fuels, aligning with the global energy transition [3] Market Context - Phillips 66's refining operations are sensitive to crude price volatility, with current West Texas Intermediate crude prices below $60 per barrel, benefiting refining operations due to lower raw material costs [4] - Other downstream players in the market include Valero Energy Corporation, PBF Energy Inc., and Par Pacific Holdings, each with varying Zacks Ranks [4][5]

Market Overview - The Dow Jones Industrial Average reached a record high of 49,368 before easing to 49,221.89, reflecting a modest pullback of 240 points or 0.49% [1][2] - The S&P 500 hovered near its record territory at 6,937.81, down 0.10%, while the Nasdaq Composite rose 0.13% to 23,578.05, indicating resilience across major indexes [2][1] Economic Indicators - The Institute for Supply Management reported a services index of 54.4% in December, the highest level of the year, indicating steady momentum in the U.S. economy [5] - The ISM prices index fell to 64.3%, the lowest since March 2025, suggesting cooling inflation without hindering growth, which historically supports equity valuations [6] - Job openings decreased to 7.15 million in November, the lowest in over a year, while private payroll data showed an addition of 41,000 jobs in December, slightly below forecasts [7][8] Energy Sector Developments - Venezuela's interim authorities plan to transfer approximately 50 million barrels of oil to the U.S., which is expected to stabilize the region and integrate Venezuela back into the global economy [9][19] - The influx of Venezuelan oil has softened crude prices, initially raising concerns about a glut but ultimately benefiting American refining companies like Valero Energy and Marathon Petroleum, whose shares rose by 4% and 2% respectively [10][19] - Analysts suggest that harmonizing the energy network in the Western hemisphere could enhance U.S. energy security for the decade [11] Geopolitical Context - The U.S. military action involving Venezuela has had limited immediate impact on oil supply, with investors focusing more on fundamentals than headlines [3] - Ongoing tensions between Iran and Israel remain a critical factor for global stability, but recent diplomatic efforts have eased tensions, allowing for open shipping lanes in the Persian Gulf [13][14] - The current market reaction indicates a gap between perceived "headline risk" and actual market performance, with investors prioritizing stability for sustained growth [14][15]

Core Insights - Chinese independent refiners are anticipated to shift towards heavy crude oil sources, including Iran, to compensate for the loss of Venezuelan shipments that have been disrupted following the U.S. government's actions against Venezuela's leadership [1] Group 1 - The transition to heavy crude is a strategic response to geopolitical changes affecting oil supply chains [1] - The reliance on Iranian crude indicates a potential shift in sourcing strategies among Chinese refiners [1] - The halt of Venezuelan shipments is a significant factor driving this change in procurement [1]

Core Viewpoint - Valero Energy will continue to import gasoline into Northern California after the Benicia refinery ceases operations in April, rather than making a fuel supply adjustment [1] Company Summary - Valero Energy's Benicia refinery is set to cease operations in April, prompting the company to maintain gasoline imports to Northern California [1]

Even so, utilization has improved markedly over the past year. In November 2024, only one refinery saw utilization rates above 50%. By November 2025, five out of seven exceeded that threshold, with the strongest gains seen at the Tula, Cadereyta, Salina Cruz and Dos Bocas plants. Tula climbed to a 79% utilization rate, the highest in the country, while Dos Bocas surged from 17% to 61% in a single year. Cadereyta rose from 35% to 61%, and Salina Cruz improved from 44% to 60%, signalling that operational reco ...

PresentationNeil MehtaGoldman Sachs Group, Inc., Research Division All right. We got a great turnout for this session. We're very honored every year to have Mark come and Phillips 66 team, Kevin, Don. I'm Neil Mehta. I'm joined by my colleague, John Mackay here, and we're going to have a great conversation on refining. This morning, we started off talking about the Permian, then we went to the Marcellus and the Haynesville and now we're going to move to the world of refining, and there's a lot to talk about ...

Core Viewpoint - CVR Energy, Inc. (CVI) shares have experienced significant volatility over the past year, gaining 39% due to widening crack spreads and regulatory relief, but are down 30% from their highs in early fall [1] Summary by Relevant Sections - **Stock Performance** - CVR Energy shares gained 39% as crack spreads widened and regulatory relief emerged [1] - The shares are currently down 30% from their highs in early fall [1] - On a recent Monday, the stock price jumped significantly [1] - **Market Context** - The company has been subject to macroeconomic factors influencing its stock performance [1] - The volatility reflects broader market trends and investor sentiment [1] - **Investment Strategy** - The analysis suggests a contrarian investment approach based on macro views and turnaround stories to achieve favorable risk/reward profiles [1]

Refiner Phillips 66 can run Venezuelan crude at two U.S. Gulf Coast refineries as supplies become available, Chief Financial Officer Kevin Mitchell said on a conference call on Tuesday. ...