Vertex Energy up on exceeding Q4 throughput guidance

Vertex Energy

17/01/2023 14:13

** Shares of oil and gas refining and marketing firm Vertex
Energy Inc  VTNR.O  up 2.9% at $7.1 premarket
    ** Q4 throughput volumes of about 77,000 barrels per day
(bpd) exceeds co's guidance of 74,000 bpd 
    ** Co expects Q4 results, for the Oct-Dec period, to benefit
from continued robust refining margins, lack of hedge impact and
reduced inventory backwardation charges
    ** Co says its renewable diesel conversion project remains
on schedule, expects mechanical completion by late March
    ** Project expected to deliver initial production volumes of
about 8,000 bpd to 10,000 bpd 
 (Reporting by Ankit Kumar in Bengaluru)
 ((Ankit.Kumar2@thomsonreuters.com))