Chairman and CEO RexTillersonRex Tillerson said the earnings jump reflects higher crude oil realizations, improved downstream margins and stronger chemical results.
Downstream earnings have snapped back so far that I prefer pure play oil producers like Apache with no downstream cyclical vulnerability.
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The US oil behemoth also has a downstream business in Russia, as well as a chemicals business, and a stake in the Caspian Pipeline Consortium, which has recently been approved for expansion.
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In 1996 Gandur made the salmon leap from the downstream activities of oil trading and marketing, which provide thin margins by moving huge volumes of other people's oil, into the upstream, which entails more risk and upfront investment but offers fatter returns. aog inked its first production-sharing contract with the oil minister of Ivory Coast to overhaul the abandoned offshore Espoir oilfield.
Earlier this year, integrated oil companies showed weakness in their downstream business, suggesting it has been a difficult 2012 for refiners.
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On energy cooperation, there are already a number of American companies providing a range of upstream and downstream services in our oil and gas sector.
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The oil states are moving into propylene too, and downstream as well.
Hess has become the latest large-cap oil company to announce plans to shed its refining and downstream business to focus on high-margin exploration and production.
Downstream activities generally refer to the refining of crude oil and distributing its by-products including gasoline, natural gas, LPG and diesel.
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The third biggest U.S. integrated oil company will separate its upstream oil-and-gas exploration and production division from its downstream refining division.
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ConocoPhillips is at the forefront of the debate in the oil industry, having decided to get rid of its lower-margin downstream business and concentrate on exploration and production.
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Environmental scientist Kevin Timoney says he has seen data that suggest elevated levels of PAHs downstream of the plants, which he says could only be attributable to oil sands production.
By using this correlation criterion, the Fund provides exposure to pure-play oil companies with significant oil reserves that are not as involved in other industries such as natural gas or downstream operations.
Global X Oil Equities ETF ( XOIL) provides exposure to pure-play oil companies with significant oil reserves that are typically not involved in other industries such as natural gas or downstream operations.
Many in the oil industry have rejected the integrated model, with Conoco Phillips, for example, spinning off its downstream business.
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Fluor gets 58% of its revenues from oil-and-gas-related projects, and about 75% of that is in "downstream" services like building refineries and modernizing old ones so that they can remove sulfur from heavier grades of crude.
While the biggest oil and gas company by reserves, Exxon, had a stellar quarter, Chevron suffered from weakness in their downstream margins and took the hit on their profits.
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