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Title: Record Glut of Oil Refineries Selling at 80% Discount: Real M&A
Source:
Bloomberg
URL Source: http://www.bloomberg.com/news/2011- ... as-margins-surge-real-m-a.html
Published: Feb 23, 2011
Author: Bloomberg
Post Date: 2011-02-23 13:35:49 by go65
Keywords: None
Views: 7991
Comments: 9
Oil companies from Chevron Corp. to BP Plc are selling more refineries than at any time in history even as a rebound in demand for gasoline and diesel pushes profits from running the plants to the highest level since 2007. A glut of refineries put up for sale by integrated oil companies after the global recession dragged down profits are now available for 80 percent less than they fetched in 2006, Dahlman Rose & Co.’s Sam Margolin says. Meanwhile Tesoro Corp., the subject of more than a dozen takeover rumors since 2007, has the cheapest valuation among U.S. refiners based on projected earnings before interest, taxes, depreciation and amortization, according to data compiled by Bloomberg. Blackstone Group LP, billionaires David and Charles Koch and energy producers from Brazil and Russia may be eyeing acquisitions of individual plants or company takeovers with refining margins almost tripling since Nov. 1, according to IHS Herold’s John Parry. There are 2.5 million barrels of daily refining capacity for sale globally, he said, enough to process the entire crude output of Nigeria or Norway.
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#1. To: go65 (#0)
Thanks to ob@m@ and his government policies to KILL the petroleum industry. Shit.
Socialist ass-hats think "There will be no more money when the U.S. dollar has no value, until that time we can keep printing more." And yes, that IS from LF's answer to Ben Bernanke, go65, leading disfunctional and delusional socialist of the forum. "You want me to kill THE ENEMIES of Jappos, I'll kill THE ENEMIES of Jappos, Rebs, or Sioux, or Cheyenne... For 500 bucks a month I'll kill whoever you want. But keep one thing in mind: I'd happily kill you for free." Algren, "The Last Samurai" Shit. Even so you just tack on the costs and make out like a bandit. The commodities market has you covered. As a capitalist you should consider this a great buying opportunity.
"http://first-draft-blog.typepad.com/.a/6a00d8341c5ced53ef0148c7a28c4b970c-320wi"
Ask him why and then check out his response. When you then ask him if he understands what he has posted, make sure you have the popcorn ready!!!!
Why are you such a gutless, simpering pussy, dwarf?
Little Willie. Ever ready to instruct his little army of angry apparatchiks on how to engage in propaganda.
Well, [war's] got to do something for attention, his multiple personalities aren't speaking to him any more, and his imaginary friends keep finding excuses not to come over.
True. OTOH, the markets are blatantly rigged. Trying to play in a rigged game is a sure way to lose your ass. At this point, I'm not interested in making a profit, since those profits will be in dollars, whose intrinsic value is the paper the ink is printed on. So I'll stick to something that maintain my purchasing power, which I can hold in my hand- precious metals. One need only look at history, to understand where the dollar will ultimately end up... If your money is in an IRA or 401k, or you're depending on a pension fund to keep you afloat, than you'd better think twice about what happens to currencies backed by the "full faith and credit" of the Federal Reserve, AKA "nothing." Gold is ideal as a medium of storage for purchasing power, since it is the standard of value, and carries a lot of value in a small size (and can be easily stashed away). Silver is a good storage of purchasing power, yet not so valuable that you cannot use it for commerce, if needs be. My savings that I'm not putting into precious metals, I put into the "other white meat" of precious metals- brass and lead, as well as storing up food, fuel and barter items for future use. [My wife freaked out at how much Jack Daniels we now have--- and I don't even like JD, perferring Jamiesons instead). You seem to think that I support what's happening in the economy, right now... Nothing could be farther from the truth. We don't have a socailist, capitalist or communist economy, at the moment... we have a "corporatist" economy, where the government and large corporations- like Monsanto foods, or Bayer AG- control government actions. The closest (and only, as far as I can tell) historical parallel, would be pre-WWII Italy, under the leadership of Il Duce, Benito Mussolini. Ironic, since the arrogant mannerisms of ob@m@ so closely mirror those of Il Duce. Socialist ass-hats think "There will be no more money when the U.S. dollar has no value, until that time we can keep printing more." And yes, that IS from LF's answer to Ben Bernanke, go65, leading disfunctional and delusional socialist of the forum. "You want me to kill THE ENEMIES of Jappos, I'll kill THE ENEMIES of Jappos, Rebs, or Sioux, or Cheyenne... For 500 bucks a month I'll kill whoever you want. But keep one thing in mind: I'd happily kill you for free." Algren, "The Last Samurai" Little Willie. war is still here?
Socialist ass-hats think "There will be no more money when the U.S. dollar has no value, until that time we can keep printing more." And yes, that IS from LF's answer to Ben Bernanke, go65, leading disfunctional and delusional socialist of the forum. "You want me to kill THE ENEMIES of Jappos, I'll kill THE ENEMIES of Jappos, Rebs, or Sioux, or Cheyenne... For 500 bucks a month I'll kill whoever you want. But keep one thing in mind: I'd happily kill you for free." Algren, "The Last Samurai" Willie will never go away. He is a paid shill, after all and must marshal his piss-ant forces to devil the Republic.
Well, [war's] got to do something for attention, his multiple personalities aren't speaking to him any more, and his imaginary friends keep finding excuses not to come over.
lol, what an awesome kooky post!!!! Thanks for darwinning yourself into oblivion.
A glut of refineries put up for sale ... are now available for 80 percent less than they fetched in 2006, Dahlman Rose & Co.’s Sam Margolin says.
#2. To: Capitalist Eric (#1)
Thanks to ob@m@ and his government policies to KILL the petroleum industry.
#3. To: Rek (#2)
#4. To: war, Rek (#3)
Ask him why
#5. To: war (#3)
#6. To: Rek (#2)
As a capitalist you should consider this a great buying opportunity.
#7. To: Rudgear (#5)
To: war
#8. To: Capitalist Eric (#7)
#9. To: Capitalist Eric (#6)
-------------------------------------
Why don't you make like a tree and get out of here?
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