refinery

Exclusive: Delta’s refinery sacrifices profits for lower fuel cost – memo

By Jarrett Renshaw NEW YORK (Reuters) – Delta Air Lines Inc is flooding the New York market with jet fuel from its refinery, sacrificing refining profits in order to lower the carrier’s fuel costs, according to a company memo seen by Reuters.    The memo, written by the head …

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Exclusive: Delta’s refinery sacrifices profits for lower fuel cost – memo

refinery

Ericsson defends practices as report questions revenue accounting

Swedish telecom equipment maker Ericsson defended its accounting practices after a newspaper questioned the way it booked future sales which had yet to be invoiced. The company denied any wrongdoing and said in an emailed statement that “the claim that Ericsson in an inaccurate way has reported revenues in the income statement is not true”. Ericsson referred to the annual report, which states that one of the conditions for reporting sales is when “collection is reasonably assured”

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Ericsson defends practices as report questions revenue accounting

refinery

Oil prices largely unchanged as market shrugs off Turkey coup bid

Oil prices were largely unchanged on Monday as traders shrugged off the impact of the attempted coup in Turkey, while disruptions to crude exports in Libya and upbeat U.S. economic data lent prices some support. “The market is looking past the coup,”

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Oil prices largely unchanged as market shrugs off Turkey coup bid

refinery

Oil prices edge away from two-month low, but market outlook stays weak

By Henning Gloystein SINGAPORE (Reuters) – Crude oil prices edged away from over two-month lows in early Thursday trading, after a sharp slide on concerns the market would take much longer than many anticipated to rebalance as supplies far outstrip demand. Internationally traded Brent crude futures were at $46.18 a barrel, up 37 cents following a 3.4-percent fall the previous day. “Rising U.S. inventories continue to remain a major theme driving crude oil prices … Iraq is also increasing pressure on U.S. shale producers.

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Oil prices edge away from two-month low, but market outlook stays weak