real-time news and commentary for investors
Monday, Sep 23
Northern Tier Energy lowers Q3 throughput guidance after refinery fire
- Trading in Northern Tier Energy (NTI -7.5%) resumes after a brief halt.
- Shares had been weak all day in response to news of a fire yesterday at one of its crude oil units at its St. Paul Park, Minn., refinery, which accounts for 94% of NTI's operating income.
- NTI says preliminary estimates indicate the outage will last 3-4 weeks and repair costs should total less than $10M; updates Q3 throughput guidance to 78K-81K bbl/day from earlier 90K-95K bbl/day.