DALLAS--(BUSINESS WIRE)--HF Sinclair Corporation (NYSE and NYSE Texas: DINO) ("HF Sinclair†) plans to announce results for the quarter ending December 31, 2025, on February 18, 2026, before the opening of trading on the NYSE and NYSE Texas. HF Sinclair has scheduled a webcast conference on February 18, 2026, at 8:30 a.m. Eastern time to discuss financial results. This webcast may be accessed at: https://events.q4inc.com/attendee/560135108 An audio archive of this webcast will be available using the above ...

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 ...

Key Takeaways Trump signaled the potential for opening Venezuela's vast oil reserves to U.S. energy majors.CVX already operates in Venezuela via joint ventures that account for 23% of the country's output.PSX & VLO run complex refineries capable of processing heavy, high-sulfur crude into fuels.President Donald Trump has signaled the possibility of opening the vast oil reserves of Venezuela to the oil and gas majors in the United States, implying that the energy majors in the domestic market have the potent ...

Michael Burry attends the premiere of "The Big Short" at Ziegfeld Theatre on November 23, 2015 in New York City.Michael Burry's quiet bet on Venezuelan oil is coming back into focus.The investor best known for "The Big Short" said he has owned Valero Energy since 2020, a position he views as increasingly attractive as the U.S. moves toward a deeper role in reviving Venezuela's oil industry."Realize that many Gulf Coast refineries were purpose-built for Venezuelan heavy crude," Burry wrote in a Monday blog p ...

Key Takeaways DK shares rose 69% over 12 months, far outpacing the Oil Refining & Marketing sub-industry.DK paid $15.3M in dividends and repurchased $15M in shares during Q3 2025, signaling shareholder focus.DK faces rising Q4 2025 operating costs, volatile crack spreads and a 5.11% YoY revenue decline.Over the past 12 months, Delek US Holdings, Inc. (DK) has significantly outperformed both the Oil Refining & Marketing sub-industry (ZSI128M) and the broader Oils & Energy sector (ZS12M). DK's share price gre ...

Core Insights - The comparison between Exxon Mobil Corporation (XOM) and Par Pacific Holdings Inc (PARR) highlights their differing business models, with Par Pacific potentially outperforming ExxonMobil in a low oil price environment expected in 2026 [1][8]. Oil Price Outlook - The U.S. Energy Information Administration (EIA) forecasts that the average spot price of West Texas Intermediate crude will decline from $76.60 per barrel last year to $65.32 per barrel this year, and further down to $51.42 per barrel in 2026 [4]. - Low oil prices are advantageous for the refining industry, as they allow companies to process cheaper raw crude into final products like gasoline and diesel, which is expected to benefit refining operations in 2026 [5]. Company Performance - Over the past year, Par Pacific's stock price increased by 119.3%, significantly outperforming ExxonMobil's 16.1% gain [2][8]. - Par Pacific's diverse crude sourcing, including cheaper Canadian heavy oil, enhances its cost flexibility and competitive edge in refining [8][15]. ExxonMobil's Strengths - ExxonMobil maintains a strong presence in the Permian Basin and offshore Guyana, utilizing advanced technologies to improve well recoveries by up to 20% [9]. - The company has a solid production outlook due to significant discoveries in Guyana, with low breakeven costs aiding its operations even in a low crude price environment [10][11]. Valuation and Investment Considerations - Currently, ExxonMobil trades at a higher valuation multiple (7.74x EV/EBITDA) compared to the industry average (4.46x), reflecting investor preference for its diversified business model [16]. - Investors willing to take on more risk may find Par Pacific appealing due to its different risk-reward profile, despite being smaller than ExxonMobil [18].

Crude oil prices fell to levels not seen since the doldrums of the pandemic at the start of 2021, as a widely expected supply glut picked up momentum and peace talks in the Russia-Ukraine conflict took steps forward. Futures on international pricing benchmark Brent crude (BZ=F) fell by 2.2% to trade below $59.30, while US benchmark West Texas Intermediate (WTI) crude (CL=F) fell by a deeper 2.4% to trade below $55.50. Both energy products reached levels Tuesday morning that haven't been seen since Februar ...

Core Insights - HF Sinclair Corporation (NYSE:DINO) is expanding its operations through the acquisition of Industrial Oils Unlimited (IOU) for $38 million, which includes approximately $15 million in working capital, with an expected 2027 EBITDA multiple of about 3.5x after synergies are considered [2][3] - The acquisition of IOU is anticipated to enhance HF Sinclair's position as an innovator in the lubricants and specialty fluids market [3] - HF Sinclair has outlined a capital spending plan of $775 million for the upcoming year, which is about 11% lower than the current year's expected spending, primarily due to reduced maintenance needs [4] - For 2026, HF Sinclair plans to allocate around $225 million to its refining segment, slightly below the projected $240 million for the current year [5] Financial Overview - The acquisition price for IOU is set at $38 million, with a significant portion allocated to working capital [2] - The expected EBITDA multiple for the acquisition is approximately 3.5x for 2027, indicating a potentially favorable valuation [2] - The reduction in capital spending reflects a shift in maintenance needs, with turnaround and catalyst costs projected to decrease from $410 million in 2025 to $325 million in 2026 [4]

Summary of ONEOK Conference Call Company Overview - **Company**: ONEOK - **Key Executives Present**: - Pierce Norton, President and CEO - Walt Hulse, EVP and Chief Financial Officer - Sheridan Swords, EVP, Chief Commercial Officer Strategic Shifts - ONEOK has undergone significant strategic shifts over the past few years, diversifying its pipeline concentration and reducing natural gas exposure while increasing its presence in refined products and crude NGLs [3][4][6] - The acquisition of Magellan was pivotal, transitioning from a supply push to a demand pull model, enhancing cash flow stability and allowing for sustained earnings with minimal capital [4][5] - Subsequent acquisitions, including EnLink and Medallion, were strategically sequenced to enhance connectivity and operational efficiency across their assets [5][6] Synergies and Financial Performance - ONEOK has identified $700 million to $1.1 billion in synergies from its acquisitions, with approximately 80% of expected synergies from the Magellan acquisition already realized [8][9] - The company has successfully executed small capital projects yielding high returns, such as spending $12 million to generate $30 million in EBITDA [9][10] - The integration of assets has allowed for improved operational control and efficiency, particularly in the NGL system [11][12] Market Outlook - The U.S. is projected to produce approximately 13.5 million barrels of oil daily, with significant growth expected in the Permian Basin, which will drive natural gas and liquids production [15][41] - The LNG capacity in the Gulf Coast is expected to reach 30 BCF per day by 2030, indicating a strong demand for natural gas from regions like the Permian and Haynesville [15][16] - The Bakken region is anticipated to see low single-digit growth in gas production, while the Rockies are expected to maintain stable crude oil production levels [18][20] Capital Expenditure and Growth Drivers - ONEOK's growth into 2026 is driven by completed projects and expansions, including the Bison Pipeline and Denver expansion of refined products pipeline [30][31] - The company has adjusted its outlook for 2026 due to a decrease in crude prices from $75 to $60, leading to a more cautious approach from producers [32][33] M&A Strategy - ONEOK remains open to M&A opportunities but is currently in a position to be patient and selective, having built a strong asset mix and identified potential targets [34][35] - The company emphasizes intentionality in its M&A strategy, ensuring that any future acquisitions align with its existing operational framework [35] Competitive Landscape - The wellhead-to-water strategy aims to control the entire process from gas production to market delivery, enhancing competitive positioning [36][39] - The Permian Basin is recognized as the most competitive area for natural gas and NGLs, with ongoing investments in pipeline and fractionation capacity [52][53] Conclusion - ONEOK is strategically positioned for growth through its diversified asset base, successful integration of acquisitions, and a strong focus on operational efficiency and market demand dynamics. The company is prepared to navigate the evolving energy landscape while maintaining a disciplined approach to capital allocation and M&A activities.

Core Insights - The electric vehicle (EV) market is expanding globally, but the U.S. faces complexities due to policy changes and market dynamics [1] - California is balancing the need for clean transportation with consumer affordability, especially as it prepares for refinery closures [3][4] - The proposed Western Gateway Pipeline aims to connect the Midwest to California, potentially supplying 200,000 barrels per day of refined products [6][8] Industry Dynamics - California's gasoline prices are the highest in the U.S., currently averaging $4.63 per gallon compared to the national average of $3.10 [4] - The state is experiencing a critical trade-off between reducing gasoline dependency and maintaining affordable fuel prices [3] - The pipeline project is seen as a response to California's unique fuel market challenges, which rely heavily on imports and local supplies [5][6] Company Actions - Phillips 66 and Kinder Morgan are leading the Western Gateway Pipeline project, which is expected to be operational by 2029 pending approvals [6][17] - The pipeline would reverse existing lines to facilitate east-to-west flow, enhancing supply resilience against disruptions [7][14] - California's government has approved new oil well drilling to attract oil companies, indicating ongoing reliance on fossil fuels despite decarbonization goals [7][14] Market Implications - The pipeline could mitigate price spikes caused by refinery disruptions, as seen in recent incidents affecting supply [13][14] - Experts suggest that increased supply could help lower fuel prices, although global crude oil prices will still play a significant role [10] - The project reflects a belief among energy companies that California will remain dependent on gasoline for the foreseeable future [14][20]