Energy Update
April 28 (Reuters) - Refiner Marathon Petroleum Corp
barely eked out a profit in the first quarter, hurt by weak
crack spreads - the difference between the prices of crude oil
and refined products.
April 28 (Reuters) - ConocoPhillips, the largest
U.S. independent oil company, reported a quarterly loss,
compared with a year-earlier profit, and further lowered its
2016 budget as the slump in crude prices sapped profitability.
April 28 (Reuters) - Refiner Marathon Petroleum Corp
barely eked out a profit, hurt by weak crack spreads - the
difference between the prices of crude oil and refined products.
BEIJING, April 28 (Reuters) - Sinopec Corp's
net profit jumped to almost $1 billion in the first
quarter on improved refining margins, Asia's biggest oil
refiner said on Thursday.
SEOUL/SINGAPORE, April 28 (Reuters) - South Korea's biggest
chemical company LG Chem said on Thursday it had
sought help from authorities retrieving $21 million that it
believed had been paid into a fake bank account to purchase a
refined oil product.
April 28 (Reuters) - MEG Energy Corp, which
operates in Canada's oil sands, reported a first-quarter profit,
compared with a loss a year earlier, as it managed to keep
production costs at record lows to help cushion the impact of a
slump in oil prices.
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