Profits Rise at Calumet


Calumet Specialty Products Partners last week reported first quarter net income of $28.2 million, up from $3.8 million in the year-ago quarter.

Total sales for the first quarter were $351 million, down from $398 million in first-quarter 2006. Total refinery production in the latest quarter also declined to under 45,000 barrels per day, of which 10,100 b/d was base oil production, from more than 50,000 b/d (including 11,700 b/d of base oil) in last years first quarter.

Decreased sales revenues and volumes were primarily due to scheduled turnaround activities at Calumets Shreveport and Princeton, La., refineries during the quarter, with no similar activities in 2006.

We improved upon our performance in both our Specialty and Fuel Products segments in the first quarter of 2007 despite scheduled turnaround activities during the quarter, said Calumet President and CEO Bill Grube, who attributed the improvements to better margins per barrel on both specialty and fuel products.

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