Business Services Industry
Oil Refiners Start to See Silver Lining.
Knight Ridder/Tribune Business News, October, 2002
By Greg Jefferson, San Antonio Express-News Knight Ridder/Tribune Business News
Oct. 26--Oil refiners say they are at last getting a break in an otherwise dismal year.
Profit margins on gasoline and distillates -- which include heating oil, diesel and jet fuel -- are rising in many parts of the country because of supply disruptions, growing demand and declining fuel inventories, say analysts and refiners.
For Tesoro Petroleum Corp., the turn apparently has given the San Antonio refiner's battered stock a respite. Its shares rose 11 percent to close Friday at $2.45 on the New York Stock Exchange, after jumping 21.6 percent the day before.
Still, the stock price has fallen 81 percent this year over investors' concerns about...
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