European Union measures to restrict imports of Russian fuel and surging supplies of lighter crude are driving diesel up prices across the world, the boss of Europe’s largest oil refiner said https://t.co/o7oaj37MDB ...

Core Insights - Sky Quarry Inc. is launching a crowdfunding offering through its subsidiary, Foreland Refining Corporation, to support its sustainable resource recovery initiatives [1][5] - The company aims to address the fuel supply gap in Nevada, which currently imports about 86% of its refined fuel, by enhancing local production capabilities [2][8] - Sky Quarry is exploring digital asset strategies to improve transparency and efficiency in capital raising, viewing its revenue-linked crowdfunding as a potential model for future blockchain applications [3][4] Company Overview - Sky Quarry Inc. focuses on oil production, refining, and environmental remediation, particularly in recycling waste asphalt shingles [7] - Foreland Refining Corporation operates the Eagle Springs refinery in Nevada, producing essential petroleum products and serving various sectors across the Western U.S. [8] Crowdfunding Details - The proceeds from the crowdfunding will be used for refinery upgrades, operational efficiency improvements, and integration of recycled heavy oil from asphalt shingle recycling [5] - The crowdfunding offering is conducted under Regulation Crowdfunding through PicMii Crowdfunding [6]

Core Viewpoint - Analysts forecast that Phillips 66 (PSX) will report quarterly earnings of $1.63 per share, reflecting a year-over-year decline of 29.4%, with anticipated revenues of $30.54 billion, a decrease of 21.5% compared to the previous year [1]. Earnings Projections - Over the last 30 days, there has been an upward revision of 0.8% in the consensus EPS estimate for the quarter, indicating a collective reconsideration by covering analysts [2]. - Changes in earnings projections are crucial for predicting investor reactions, as empirical studies show a strong correlation between earnings estimate trends and short-term stock price movements [3]. Revenue and Key Metrics Estimates - Analysts estimate 'Sales and other operating revenues' to reach $30.66 billion, indicating a year-over-year change of -19.6% [5]. - The estimate for 'Equity in earnings of affiliates' is projected at $316.23 million, reflecting a year-over-year decline of 35.1% [5]. - 'Revenues and Other Income - Other income' is expected to be $41.52 million, showing a change of -28.4% from the prior-year quarter [5]. Refining Operations - 'Revenues - Total Refining' is expected to be $15.63 billion, indicating a significant increase of 69.9% from the prior-year quarter [6]. - 'Refining operations - Gulf Coast - Crude oil processed' is projected to reach 495.27 thousand barrels per day, down from 507.00 thousand barrels per day in the same quarter last year [6]. - 'Refining operations - Atlantic Basin/Europe - Crude oil capacity' is expected to remain stable at 537.00 thousand barrels per day, consistent with the previous year's figure [7]. Global Refining Metrics - Worldwide crude oil processed is estimated at 1,751.92 thousand barrels per day, down from 1,802.00 thousand barrels per day year-over-year [8]. - 'Refining operations - Atlantic Basin/Europe - Capacity utilization' is forecasted to be 94.6%, down from 98.0% in the previous year [8]. - 'Refining operations - Atlantic Basin/Europe - Crude oil processed' is estimated at 508.20 thousand barrels per day, compared to 527.00 thousand barrels per day in the same quarter last year [9]. West Coast Operations - 'Refining operations - West Coast - Crude oil processed' is projected at 228.29 thousand barrels per day, slightly up from 227.00 thousand barrels per day in the previous year [10]. - 'Refining operations - West Coast - Capacity' is expected to remain at 244.00 thousand barrels per day, unchanged from the prior year [10]. - 'Refining operations - West Coast - Capacity utilization' is forecasted to be 93.6%, compared to 93.0% in the same quarter last year [11]. Stock Performance - Shares of Phillips 66 have increased by 4.2% over the past month, compared to a 5.9% increase in the Zacks S&P 500 composite [12].

Shipowners and oil traders are staying away from Russia-backed Nayara Energy as part of the fallout faced by the Indian refiner, after it was singled out in the latest round of European Union sanctions https://t.co/7oMiwjoUam ...

The long-term survival of the refiners will likely hinge on crude import quotas from Beijing, giving them access to cheaper oil that will help mitigate razor thin margins https://t.co/KLx6M4ZZqd ...

Core Viewpoint - The market anticipates a year-over-year decline in Valero Energy's earnings due to lower revenues, with a focus on how actual results compare to estimates impacting stock price [1][2]. Earnings Expectations - Valero Energy is expected to report quarterly earnings of $1.76 per share, reflecting a year-over-year decrease of 35.1% [3]. - Revenues are projected to be $27.84 billion, down 19.3% from the same quarter last year [3]. Estimate Revisions - The consensus EPS estimate has been revised 3.01% higher in the last 30 days, indicating a reassessment by analysts [4]. - A positive Earnings ESP of +1.22% suggests analysts have recently become more optimistic about Valero's earnings prospects [12]. Earnings Surprise Prediction - The Zacks Earnings ESP model indicates that a positive reading is a strong predictor of an earnings beat, especially when combined with a Zacks Rank of 1, 2, or 3 [10]. - Valero currently holds a Zacks Rank of 3, indicating a likelihood of beating the consensus EPS estimate [12]. Historical Performance - In the last reported quarter, Valero was expected to post earnings of $0.43 per share but delivered $0.89, resulting in a surprise of +106.98% [13]. - Over the past four quarters, Valero has beaten consensus EPS estimates three times [14]. Conclusion - Valero Energy is positioned as a compelling earnings-beat candidate, but investors should consider other factors influencing stock performance beyond earnings results [17].

Core Insights - The International Energy Agency (IEA) report indicates that seasonal changes in crude oil production are driving refinery output to increase by 3.7 million barrels per day from May to August to meet summer travel demand in the Northern Hemisphere [1] Industry Summary - The increase in refinery output is a response to the anticipated rise in travel during the summer months, highlighting the seasonal nature of oil production and refining activities [1]

Industry Operations - The UK's Lindsey oil refinery has not yet resumed fuel delivery to wholesalers [1]

Company Operations - BP will keep running a crude-processing unit at its Gelsenkirchen refinery [1] Market Factors - Market conditions contribute to the plant's profitability [1]

China’s oil refiners are facing yet another hit to their bottom line, with an oversupply of aviation fuel adding to the woes of a sector already grappling with ebbing demand for gasoline and diesel https://t.co/7dKefS0l0u ...