Fuel retailer Parkland Corp. has lowered its full-year earnings forecast as sluggish market conditions continue to take a bite out of margins at the company's Burnaby, B.C. refinery.
Crack spreads globally are currently low due to a variety of factors, including weak economic conditions that have reduced fuel demand in China as well as the U.S. government's sale of 1 million barrels of gasoline last quarter from its Northeast supply reserve, which pushed more fuel onto the market.
Many global oil majors are also reporting decreased third-quarter earnings due to weakness from their refining segments. Reuters reported Thursday that French giant TotalEnergies saw its third-quarter earnings hit a three-year low this year, in large part due to the collapse of refining margins. This is the second consecutive quarter the company has lowered its forecast, from $1.95 billion to $2.05 billion originally.
Both U.S.-based activist investor Engine Capital LP, as well as Parkland's largest shareholder Simpson Oil Ltd., have called on Parkland to conduct a review of strategic alternatives — including a possible sale of the company. Saskatchewan RCMP say that human remains found on Monday north of Lloydminster near the Alberta/Saskatchewan border were those of Serayne Kematch.
One constituency remains to be decided in Saskatchewan's 2024 election, it will come down to final mail-in ballots
Colombia Últimas Noticias, Colombia Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Fuente: BNNBloomberg - 🏆 83. / 50 Leer más »
Fuente: SooToday - 🏆 8. / 85 Leer más »
Fuente: GlobalCalgary - 🏆 50. / 61 Leer más »
Fuente: PGCitizen - 🏆 65. / 51 Leer más »
Fuente: BurnabyNOW_News - 🏆 14. / 77 Leer más »
Fuente: globebusiness - 🏆 31. / 66 Leer más »