Edition:
United Kingdom

Shradha Singh

Refiner Phillips 66 misses profit estimates on higher shutdowns

31 Jan 2020

U.S. refiner Phillips 66 missed analysts' estimates for quarterly profit on Friday, hit by lower margins and higher turnaround activity at its refineries.

Valero Energy tops profit estimates on higher Gulf Coast margins

30 Jan 2020

Independent U.S. refiner Valero Energy Corp topped Wall Street estimates for quarterly profit on Thursday, as it earned more from refining low-cost Canadian heavy crude.

Marathon profit plunges on $1.2 billion pipeline unit writedown

29 Jan 2020

Marathon Petroleum Corp's quarterly profit halved as the U.S. refiner was forced to write down $1.2 billion goodwill in its pipeline and transportation business that has failed to perform since Marathon acquired it two years ago.

Auto parts maker Magna expects lower 2020 sales, scraps Lyft partnership

16 Jan 2020

Canadian auto parts maker Magna International Inc on Thursday forecast lower 2020 sales and scrapped its partnership with Lyft to co-develop self-driving technology as it said it would instead focus on developing assisted driving technology.

Kirkland shares fall after Canadian miner offers $3 billion for Detour Gold

25 Nov 2019

Canadian miner Kirkland Lake Gold Ltd's shares fell as much as 16% in Toronto on Monday after investors reacted negatively to the hefty premium it agreed to pay to buy smaller rival Detour Gold Corp in an all-stock deal.

Enbridge to file for pipeline overhaul after regulatory halt

08 Nov 2019

Enbridge Inc, said on Friday it plans to seek the Canada Energy Regulator's approval to auction off rights to ship crude on its Mainline system, more than a month after the watchdog said the company will not be allowed to offer contracted space on the pipeline to shippers.

Keystone pipeline likely back online in weeks, oil producer Canadian Natural says

07 Nov 2019

The Keystone crude oil pipeline may return to service within a couple of weeks, based on past spills, the president of Canadian Natural Resources Ltd, the country's biggest oil producer, said on Thursday.

Phillips 66 profit beats on higher fuel margins, shares jump

25 Oct 2019

Phillips 66 beat analysts' estimates for quarterly profit on Friday, as the refiner benefited from higher retail fuel margins, sending its shares up 4.4% to their highest in more than a year.

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