As U.S. Refiners Recover, This Company Aims to Jump to the Next Level

by Sheena Martin, Contributing Editor

Even as U.S gas prices climb, petroleum traders still have no interest in buying right now.

And why would they? The summer driving season is at an end. Consumers are still trying to save cash, especially with the holidays approaching. And inventories are still bearish.

Last week, the Department of Energy (DOE) said gasoline demand is at 8.844 million barrels per day – the lowest number since late January 2009. And with practically no demand, refiners are still running at only 80% capacity, on average.

So with refinery woes persisting, it might seem odd to devote attention to investments in the industry. However, that’s precisely why you should. A contrarian strategy often pays dividends – and the recent challenges have shaken out

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The last week of October was a tense time for the bureaucrats at Minprirody, Russia's Ministry for the Protection of the Environment and Natural Resources, and naturally for Minister Yuri Petrovich Trutnev. He went all the way to Cape Town, South Africa to participate in the work of the eighth session of the mixed intergovernmental committee for trade and economic cooperation between the Russian Federation and the Republic of South Africa.

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From there, a mad dash to Namibia, to a meeting with Namibian President H. Pohamba and Prime Minister N. Angula, as well as with first president S. Nujoma and Minister of Mines and Energy E. Nghimtina.

And it wasn't questions

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Yesterday, the U.S. Energy Department's weekly inventory release showed a less-than-expected build in crude stockpiles. However, the headline news was centered on a sharp drop in gasoline stocks and refinery utilization that pushed oil prices to a fresh 2009 peak and lifted energy stocks. The federal government’s Energy Information Administration (EIA) reported a 400,000 barrels rise in crude inventories for the week ending October 9, much less than analyst expectations. The modest increase can be attributed to scaled back operations by the refiners (prompted by weak profit margins) even as imports fell. This follows last week’s report, which showed an unexpected rise in oil supply figures, against consensus forecast of a buildup. Current crude oil stocks, at 337.8 million barrels, are 9.6% above the year-earlier level and remain above the upper limit of the average for this time of the year (depicted in the first EIA chart ...

* Nigerian rebels say blow up Shell wellhead in Niger Delta

Oil rose towards $71 a barrel on Friday after Nigerian rebels said they blew up a wellhead in a Royal Dutch Shell oilfield and as equity markets rallied on perceptions the global recession was easing.

The move followed a 2 percent gain on Thursday and put oil on course for a 7 percent gain this week, buoyed by prospects for an economic recovery that has lifted prices from below $40 over the past four months.

The release of the June consumer sentiment index by the Reuters/University of Michigan Surveys of Consumers later on Friday was expected to reflect a mildly improving outlook for the U.S. economy, auguring well for ailing world energy demand.

U.S. first-quarter gross domestic product shrank less than estimated, suggesting the downturn was easing.

By 1110 GMT, benchmark August U.S. crude oil was up 50 cents per barrel at $70.73, having hit a

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Axial Vector Energy Corp. today announced that its PETRO AVEC Joint Venture partner, Petrosonics LLC, was awarded two Hong Kong Patents, resultant from the award of European Union patents 1 635 924 B1 and 1 668 095/04 781 388.6. The two patents protect the method by which sulfur and nitrogen bearing compounds are removed from diesel oil through the use of sonic energy and an oxidizing agent. They also protect a related process for the removal of the resultant oxidized sulfur and nitrogen contaminants.

Several oil and gas companies have based their operations in Hong Kong, including CNPC Hong Kong, China Resources Petroleum Company, Ltd., SS United Oil & Gas Company, the Hong Kong and China Gas Company and the Hong Kong Petrochemical Company. The Hong Kong Petrochemical Company plans to invest HK$40-60 billion in the construction of an oil refinery, oil tanks,

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TurboSonic Technologies, Inc., a leading provider of clean air technologies, announced that it has received a US $2.3 million order from a European refinery. The refinery will utilize TurboSonic’s technology to control particulate emissions, facilitating the production of low-sulfur fuels in response to environmental legislation. TurboSonic anticipates that the delivery will be made in its 2010 fiscal year.

Edward Spink, TurboSonic CEO, noted, “We have had tremendous success with our international marketing efforts. For the third time this fiscal year, TurboSonic’s clean air technology has been selected for emissions control by a European oil refinery. We are very encouraged to see a continued demand for our “green” technologies. We have developed a highly effective customer-focused approach that leads to innovative, cost effective solutions. We believe that we will continue to grow based on this approach, the quality of our technologies, and demand resulting from an increasing environmental conscience.”

Let us

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CityView Corporation Limited (CTVWF.OB) is an Australian-based natural resource company with a diverse portfolio of copper, gold, diamonds, coal, iron ore, rare earths and oil refinery interests. The company today announced a joint venture with Deanshanger Project Ltd. for the acquisition of a crude oil refinery with a daily capacity of 55,000 barrels.

The acquired Tagore Investments S.A. refinery will later be revamped to produce 100,000 barrels each day, and will be relocated to Nigeria. CityView CEO Mark Smyth said the company will commence shipment and construction of the new refinery this year, and will begin operations in early 2010.

“Following the installation of the first module, the JV has plans to increase production of the refinery to 100,000 bpd by 2011,” Smyth stated.

Deanshanger specializes in infrastructure development and project management, and will arrange the delivery of the project through a Public Private Partnership deal with DPL Energy Ltd.,

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Financial NewsJason Corcoran in Moscow 13 October 2008 Many holdings are up for saleOligarchs on opposing sides of the cash crisis are set to trigger a boom in merger and acquisition activity in Russia and the Commonwealth of Independent States.Cash-tight tycoons are being forced to sell holdings to meet pending margin calls while their rouble-wealthy counterparts are sizing up distressed assets affected by the liquidity crunch.Oligarch Oleg Deripaska had to sell a stake in Canadian auto parts maker Magna to meet a $1bn (€734m) margin call while Ukrainian billionaire Kostyantin Zhevago was forced to sell a large stake in Swiss-based ore miner Ferrexpo worth $180 in order to meet a margin call by JP Morgan.Analysts are predicting Deripaska, who has $28bn, may have to divest further holdings in his Basic Element investment vehicle to shore up his finances….

One of the biggest collapses this year hasn't been in stocks. Crude oil has lost half its value since it peaked at just under $150 a barrel in July. Today, a barrel of the black goo sells for just over $80.

Outstanding Investments co-editor Byron King says "it seems like the investment locomotive — energy, resources and related infrastructure — has derailed."

Does this mean you should sell your resource stocks? Byron says selling now would leave a lot of value on the table. That's because resource stocks are now priced well below their intrinsic value.

OK, a lot has happened over the last two weeks, and it is hard to know where to start. In the first place, you the taxpayer are now the proud owner of most of the mortgage finance industry in the country -- the takeover of Fannie (FNM) and Freddie (FRE)  -- and also the owner of the largest insurance company in the world, AIG (AIG) . In a bid to stem moral hazard, the shareholders of each of these firms were essentially wiped out, the bondholders however were bailed out.

Both the bondholders and the stockholders of Lehman Brothers (LEH) were effectively wiped out. This led to the original money market fund, a fund with $63 billion in it, breaking the buck and suspending redemptions for a week. This is only the second time a money market fund has broken the buck, and the last time

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