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The Motley Fool February 19, 2009 Christopher Barker	Refining That Competitive Advantage Refiner Holly not only delivered a solid fourth quarter that crushed analyst expectations by more than 70%, but also utilized this period of weakened demand to increase its long-term competitive advantage.
The Motley Fool November 7, 2005 Stephen D. Simpson	Holly's Good Quarter Falls Short While refining margins jumped sharply, they weren't good enough to meet estimates. Investors still hanging on to these shares will need to buckle in for the swings and swoons that are almost sure to come.
The Motley Fool August 12, 2009 Christopher Barker	Holly Dances Through a Tight Spot The refiner's strength shines through under adverse conditions.
The Motley Fool July 30, 2008 Christopher Barker	Valero's Profits a Bit Less Refined Valero struggles through a difficult environment for refiners.
The Motley Fool August 11, 2011 Jim Mueller	Rising Star Buy: Western Refining Knocked down, but fundamentally improving.
The Motley Fool January 29, 2009 Christopher Barker	Strung Out on Crack Spreads and Goodwill Valero Energy released fourth-quarter and year-end results and turned what could have been a solid quarter into a nightmare by taking a $4.1 billion goodwill impairment charge.
The Motley Fool July 29, 2009 Christopher Barker	Valero Would Like to Cap and Trade Its Losses Valero has a message for you about taxes.
The Motley Fool February 19, 2009 Christopher Barker	Calumet: 3 Strikes, You're Out! This specialty products refiner remains a risky bet after each of the past three quarters have raised major red flags.
The Motley Fool October 29, 2008 Christopher Barker	Time to Refine Balance Sheets Instead of Gasoline Valero cuts back on capital expenditures until economic uncertainty abates.
The Motley Fool May 11, 2011 Isac Simon	Western Refinery Scripts an Incredible Comeback Sound management and improved market conditions help Western turn the tide.
Financial Advisor January 2012 Brad Zigler	The Future of Refiners Foretold Refining has been a particularly volatile business since the 2008 economic nosedive.
The Motley Fool June 14, 2011 Jim Mueller	Rising Star Buy: Cracking Into Western Refining If Western Refining continues to grow its margins and the market's fears about oil and the economy are eased, the company's stock price should rise.
The Motley Fool November 6, 2009 Mike Pienciak	Frontier Oil Finally Falls Strong? Yes. Invincible? No. The stock is down roughly 15%, and the company's swung to a third-quarter loss.
The Motley Fool February 20, 2008 Toby Shute	Good Golly, Holly The explosion in the share price of refiner Holly Corp. certainly had to do with the company's unexpectedly strong results for the fourth quarter.
The Motley Fool May 24, 2005 Stephen D. Simpson	Sunoco's Air of Refinement Despite higher gasoline prices, refining and marketing margins are beginning to move the other way. I'm not sure I could recommend buying this stock today.
The Motley Fool June 30, 2011 Jim Mueller	2 Reasons to Buy Western Refining More about why we like this company.
The Motley Fool May 12, 2009 Christopher Barker	A Reversal of Refining Fortunes Several refiners swing to profits as gasoline margins improve.
The Motley Fool September 13, 2011 Aimee Duffy	Oil Refining: Buy or Sell? Murphy Oil and others jettison refining business to focus on E&P
The Motley Fool May 7, 2010 Mike Pienciak	Frontier Oil's Final Flop? Q1 could be the last of the refiner's losses, at least for a while.
The Motley Fool September 9, 2004 Chris Mallon	The Best Oil Stock You Don't Own Valero Energy has been one of the best performing oil stocks this year, but will it continue?
The Motley Fool June 17, 2008 Christopher Barker	Tesoro's Sunken Treasure Tesoro takes a hit, but the future looks brighter for the refiner.
The Motley Fool January 18, 2012 Isac Simon	An Incredibly Cheap Refining Stock Holly's merger with Frontier last July has proved to be a master stroke.
The Motley Fool November 21, 2011 Jim Mueller	Western Refining Is a Bargain Despite the collapse of the Brent-WTI spread, this refiner is far from doomed.
The Motley Fool November 2, 2007 Toby Shute	Refining Enters the House of Horrors For an oil refining company like Tesoro, when gasoline prices lag the rise in crude oil, and refining margins get squeezed, the results can be disastrous.
The Motley Fool October 25, 2011 Travis Hoium	Western Refining Shares Got Crushed: What You Need to Know Oil is up big again today, rising more than 3%, and has put pressure on refiners today. Another big refiner, Valero Energy, has also been hit hard, so it isn't just a bad day for Western Refining.
The Motley Fool January 28, 2010 Mike Pienciak	Is This the Bottom for Valero? Management predicts a financial turn from recent losses.
The Motley Fool August 2, 2007 Toby Shute	Valero Rises Through Cracks There's nothing crude about Valero Energy's business model. Buy oil and turn it into more valuable end-user products.
The Motley Fool April 30, 2007 Toby Shute	Valero: Hooked on Crack Spreads Valero depends on them to earn its outsized profits. With gasoline inventories low, business is booming. These high spread levels can't last indefinitely -- so investors need to be careful with this refiner group.
BusinessWeek October 24, 2005 Robert Barker	Valero's Sweet Spot A once deep undervaluation of independent petroleum refiners has been righted.
The Motley Fool April 20, 2009 Toby Shute	A Steal of a Refinery Deal? Maybe so, but there are strings attached.
The Motley Fool April 7, 2004 Ben McClure	Refiners Pumped Up Refinery stocks are way up, but leave them alone.
The Motley Fool February 3, 2010 Mike Pienciak	Tesoro Tanks The company's geographic market strength was no match for a punk economy.
The Motley Fool October 13, 2010 Brian D. Pacampara	Western Refining Shares Popped: What You Need to Know Shares of independent oil refiner Western Refining rose 15.5% in intraday trading today after a Wall Street analyst upgraded the stock.
The Motley Fool October 28, 2009 Mike Pienciak	Valero's Still a Loser For this oil refiner, waiting out the economy is a sucker's game.
The Motley Fool November 10, 2011 Dan Caplinger	Has Valero Become the Perfect Stock? If you're looking for a way to bet on long-term demand for energy, Valero has plenty of potential -- and could get a lot closer to perfection in the years ahead.
The Motley Fool August 11, 2006 Robert Aronen	20-Bagger on the Move After a 20-fold gain in four years, can oil refiner Giant Industries keep growing? Investors, take note.
The Motley Fool April 27, 2005 Bill Mann	Valero Comes Closer to the Edge On Monday, Valero announced the purchase of rival Premcor, creating the largest U.S. refiner by capacity. This time, refining assets have been bid up substantially. If we're at a peak, Valero could be asking for trouble.
BusinessWeek November 15, 2004 Wendy Zellner	Crude Lessons About Oil Low-quality $35-a-barrel oil is plentiful, but refineries lack the capacity to handle it. The result is that the price of oil -- and of products made from it -- is higher and more volatile than it might be.
The Motley Fool June 3, 2009 Christopher Barker	Valero Taps Shareholders ... With a Sledgehammer Valero's move to dilute shareholder equity by almost 8%, announced in the same breath as a massive reduction in second-quarter profit guidance -- from a $0.59-per-share gain to a $0.50 loss -- pains investors like a one-two punch.
The Motley Fool August 7, 2009 Christopher Barker	Escape the Wrath of Calumet Calumet shares plunged after the release of the second quarter report, supporting the refreshing notion that investors might look beyond the expectations game while digesting results.
The Motley Fool March 27, 2006 Will Frankenhoff	Valero Spins Crude Into Gold Valero's ability to inexpensively produce low-sulfur gasoline should spark investor interest.
The Motley Fool May 7, 2008 Christopher Barker	Tesoro's Margins Snap, Crackle, and Pop The oil refiner falls victim to the margin squeeze.
The Motley Fool November 14, 2006 Jean Graham	Valero: Sludge in the Pipeline Slowing organic growth may be keeping investors at bay.
The Motley Fool October 5, 2010 Seth Jayson	Where Is Western Refining's Bottom Line Headed? Here's the current margin snapshot for Western Refining and some of its sector and industry peers and direct competitors.
The Motley Fool October 27, 2004 Bill Mann	Nothing Sour About Valero The oil company demonstrates what can happen when you have an absolute advantage in material costs.
The Motley Fool February 26, 2010 Mike Pienciak	Frontier Oil: Fouled by the Economy Yet Again But it's still among the best of the bad choices.
The Motley Fool August 6, 2008 Christopher Barker	Calumet Thrown a LIFO Vest Calumet Specialty Products managed a second-quarter gain of nearly 12%. Beneath the surface, however, challenges and red flags still abound.
The Motley Fool July 30, 2010 Mike Pienciak	Sunoco Puts the Pedal to the Metal Refining operations are back in the black and a business spinoff awaits.
The Motley Fool October 4, 2007 David Lee Smith	Big Oil About to Flip With refinery margins dropping, expect the Big Oil companies to report down quarters. Investors, take note.
The Motley Fool January 31, 2006 W.D. Crotty	A 7-Bagger They Call Valero Valero energy reports record 2005 results. On a price-to-peers basis, the company looks fairly priced even though it's just below its 52-week high.