SOURCE: Industrial Info Resources

Industrial Info Resources

March 04, 2011 07:40 ET

Western Refining Shows Steady Improvement in 2010 as Margins Strengthen, an Industrial Info News Alert

SUGAR LAND, TX--(Marketwire - March 4, 2011) - Researched by Industrial Info Resources (Sugar Land, Texas) -- Higher refining margins and cost savings initiatives improved the bottom line for independent refining and marketing company Western Refining Incorporated (NYSE:WNR) (El Paso, Texas) in fourth-quarter and full-year 2010. The company reported net losses using the standard GAAP method, but these were mostly due to depreciation and amortization costs and interest expenses. The net losses were reported to be $7.57 million for the quarter, compared with a loss of $97.45 million in fourth-quarter 2009, and $17.05 million for the year, compared with a loss of $350.62 million for 2009.

Industrial Info is tracking 14 active Western projects in the U.S. that are worth a total of about $55 million, including the $15 million expansion of the Ciniza Refinery wastewater treatment plant in Jamestown, New Mexico. For more information, visit Industrial Info's North American Petroleum Refining Project Database.

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