Tortoise in the WSJ

Oil’s Price Drop Stands to Help Refiners

Field-to-Pump Operations at BP, Shell Provide Insulation from Market Pressures

LONDON—Falling oil prices mean energy companies and their investors can expect lower profits in the coming months.
But big, integrated oil companies are likely to find that a recently unloved part of their business—oil refining—provides a cushion.
Read more here.