Saturday, May 12, 2018

Oil Refiners

Petroleum refineries convert crude oil into many petroleum products. Most refineries focus on producing transportation fuels -- gasoline, jet and ship fuel, etc.

On average, U.S. refineries produce, from a 42-gallon barrel of crude oil, about 20 to 19 gallons of motor gasoline, 12 gallons of distillate fuel distillate fuel, most of which is sold as diesel fuel, and 4 gallons of jet fuel.

There are more than 600 refineries operating globally.  The 3 largest ones: Jamnagar Refinery (Reliance Industries) in India;  Paraguana Refinery Complex (PDVSA) in Venezuela; SK Energy Ulsan Refinery (SK Energy) in South Korea.

(by market cap)
   Ticker  Company name Mkt Cap
PXE  -- Refinery-heavy ETF
  • PSX      Phillips 66       57.36B
  • VLO     Valero Energy  49.98B
  • MPC     Marathon Petroleum 36.81B
  • ANDV Andeavor 21.26B  (acquired by Marathon Petroleum (MPC) in 4/18)  
  • HFC  HollyFrontier 11.94B
  • UGP  Ultrapar Participacoes S.A. (Brazil) 9.41B
  • SHI  Sinopec Shanghai Petrochemical (China) 9.11B
  • PSXP  Phillips 66 Partners 6.12B
  • PBF   PBF Energy  4.52B
  • VVV   Valvoline Inc.  4.18B
  • DK    Delek US Holdings  3.99B
  • CVI   CVR Energy   3.46B
  • CVRR  CVR Refining, LP 2.78B
  • SUN   Sunoco LP   2.72B
  • INT   World Fuel Services 1.54B
  • NGL   NGL Energy Partners LP 1.40B
  • PARR  Par Pacific Holdings  798.29M
  • CAPL  CrossAmerica Partners LP   616.25M
  • CLMT  Calumet Specialty Products Partners, L.P.  550.08M
  • REGI  Renewable Energy Group, Inc.  538.04M
  • BPT   BP Prudhoe Bay Royalty Trust  530.72M
  • SRLP  Sprague Resources LP  520.71M
  • FGP   Ferrellgas Partners, L.P.  349.33M
  • AE    Adams Resources & Energy  197.17M
  • PEIX  Pacific Ethanol, Inc.   157.38M


Charts by ave daily vol // click for live daily chart


(*)  Andeavor (ANDV), formerly Tesoro, it changed its name in 2017, after it bought Western Refining for $6.4 billion. In 2017, Andeavor generated 45% of its Ebitda, or earnings before interest, taxes, depreciation, and amortization, from refining; 26% from marketing, or selling fuel, Twinkies, and more via 3,250 service stations under banners like Arco, Shell and Mobil; and 29% through majority ownership of Andeavor Logistics (ANDX), a limited partnership with pipelines, terminals, and other assets.

ExxonMobil oil refinery in Baton Rouge, Louisiana (the fourth-largest in the United States) 

©Artremis / last update JKM 12-May-18

Thursday, April 19, 2018

Sector vs. industry

What is the difference between a sector and an industry?

This difference pertains to their scope; a sector refers to a large segment of the economy, while the term industry describes a much more specific group of companies or businesses.
When it comes to investing, a "sector" refers to companies that operate in a specific portion of the economy. The U.S. stock market can be grouped into 11 different sectors as defined by Standard & Poor's. Consumer discretionary, financials and energy are just a few examples.
For example, the computer industry includes only companies that produce computers, and the software industry includes only companies that produce software, but both industries are part of the technology sector.

Sectors can be broken down further into "industries," which are groups of companies within each sector that engage in similar business activities. For example, the automobile industry is part of the consumer discretionary sector. (Industries are also commonly referred to as "sub-sectors.")

All 11 S&P sectors in the U.S. stock market can be further broken down into two to 14 different industries. For example, the materials sector contains five distinct industries: chemicals, construction materials, containers and packaging, metals and mining, and paper and forest products. It's also important to point out that these are S&P sectors and industries and that other agencies may have slightly different definitions.

For investors, there are exchange-traded funds (ETFs) available that track each sector and some that even focus on specific industries, or subsets of companies within each industry. For example, the Financial Select Sector SPDR Fund invests in the financial sector, the SPDR S&P Bank ETF narrows it down to banking institutions and the SPDR S&P Regional Banking ETF hones its focus even further to regional banking institutions.

Saturday, February 17, 2018

ETF Composition - SLX - Steel

Fund Name: VanEck Vectors Steel ETF
Ticker Symbol: SLX

NameTicker% of net assets
1Rio Tinto PlcRIO11.01
2Vale SaVALE8.60
3Ternium SaTX8.51
4Vedanta LtdVEDL7.05
5Cia Siderurgica Nacional SaSID 5.40
6Gerdau SaGGB 5.36
7United States SteelX 5.13
8ArcelormittalMT 4.79
9Tenaris SaTS 4.73
10Nucor CorpNUE 4.64
11Steel DynamicsSTLD 4.52
12Reliance Steel & Aluminum CoRS 4.24
13PoscoPKX (Korea)4.23
14Worthington Indtries IncWOR 4.12
15Allegheny TechnologiesATI 2.90
16Commercial MetalsCMC 2.88
17Carpenter TechnologyCRS 2.34
18Mechel PjscMTL 2.04
19Ak Steel HoldingAKS 1.79
20Cleveland-CliffsCLF 1.77
21Gibraltar IndtriesROCK 0.98
22Schnitzer Steel IndtriesSCHN 0.93
23Timkensteel CorpTMST 0.75
24Suncoke EnergySXC 0.66
25Ryerson HoldingRYI 0.42
26Olympic Steel IncZEUS0.26

charts - ave vol (3 months)