Quote:
Originally Posted by ASBSECU E93
Let me clarify my comment - the largest producers of oil in the world maintain a corporate structure of the nature I specified.
While the industry of oil/gas production is highly fragmented in sheer number of companies - the actual volume of production is controlled by a few...
Source: First Research Industry analysis, NAICS Code 21111
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Ah, that's very true. But lumping in "oil" companies as being in on some scheme is not correct. The vast majority of these companies....thousands of companies literally right now are struggling mightily because they lack the integrated structure you mentioned.
Also Sunoco has a very small E&P footprint if any now, their refinery outage might boost their cash flow or it might not, you'd have to look at the rest of their capacity and utilization which I do not know off the top of my head.
Gas prices here are higher than they should be but I suspect that will begin changing in Sept or Oct after refiners switch to winter blends.