Corporate News

Corporate news affecting the convenience store industry

Strong margin environment for refiner-marketer

SAN ANTONIO -- Tesoro Corp. has reported net earnings of $326 million, or $4.66 per share, for second-quarter 2006, compared to net earnings of $184 million, or $2.62 per share, for second-quarter 2005. Bruce A. Smith, chairman, president and CEO of Tesoro, said, The optimal mix of crude sources,...

Strong refining margins for ethanol-blended gas, low-sulfur diesel

PHILADELPHIA -- Sunoco Inc. has reported net income of $426 million ($3.22 per share diluted) for second-quarter 2006 versus $242 million ($1.75 per share diluted) for second-quarter 2005. For the first half of 2006, Sunoco reported net income of $505 million ($3.80 per share diluted) versus $358...

Firm buys 4 Ill. stations for cleanup, resale

LAS VEGAS -- Global Development & Environmental Resources Inc. said that its wholly owned subsidiary, Recovery Earth Holdings Inc., has completed the acquisition of four closed gas stations located in Illinois. The properties were purchased in a cash and stock transaction and are owned by...

Alon USA Energy Inc. received notice from the FTC that the FTC has closed its investigation of Alon's pending acquisition of Paramount Petroleum Corp.
Company may not consider any acquisition proposal from Cardinal/Drawbridge
Completes acquisition of refining equipment, marketing assets
SSA increased same-store merchandise sales by 8.7%
Ten former Git-N-Go locations in Arkansas to re-open soon
Paying property taxes on grossly inflated values isn't fair and isn't good business.
ExxonMobil sees 36% increase over last year's 2Q.

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