Refiners Look to Profit From Oil's Spike in Price

  In recent weeks, investors have been focussed on oil and gas companies that do not have exposure to Libya and other troubled spots, but stand to benefit from oil's recent spike in price. While analyst consensus is that the world can function without Libya's exports, Victor Shum, an energy analyst at Purvin and Gertz, warns "the worry is about what's next. What if protests persist in Iran and things get out of hand?" The Bedford Report examines the outlook for companies in the Oil & Gas Refining and Marketing Industry and provides research reports on Western Refining, Inc. (NYSE: WNR) and Sulphco, Inc. (NYSE Amex: SUF). Access to the full company reports can be found at:

www.bedfordreport.com/2011-04-WNR www.bedfordreport.com/2011-04-SUF

North American refiners received a noticeable bump in share price following the devastating earthquake that struck Japan last month. Nearly 1 million barrels per day of refining capacity were shut down as a result of the earthquake and tsunami, and it was reported that a Cosmo Oil refinery had caught fire.

Rising oil and gas prices have also made operating efficiency increasingly important for companies in the refining industry. For example Western Refining has steadily streamlined operations and cut unnecessary costs and could see margins widen this year as demand remains strong.

The Bedford Report releases regular market updates on the Oil & Gas Refining and Marketing Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at www.bedfordreport.com and get exclusive access to our numerous analyst reports and industry newsletters.

Western Refining operates as an independent crude oil refiner and marketer of refined products in Texas, Arizona, New Mexico, Utah, Colorado, and the Mid-Atlantic region. Last month the company said it lost $7.57 million, or 9 cents per share, in the fiscal fourth quarter. That compares with a net loss of $97.5 million, or $1.11 per share, a year earlier. Revenue slipped 5 percent to $1.87 billion from $1.96 billion.

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