Refiner Tesoro Corp. said Tuesday it will spend almost $400 million on two projects at its Anacortes, Washington, refinery.
Valero attributed the results to wider discounts for crude oils relative to the international benchmark crude and stronger gasoline margins in most regions. More »
According to the Texas Petro Index, oil production in Texas rose almost 20 million barrels. More »
The 302,700 workers estimated to work for services and exploration and production companies marked the first time employment in the industry has exceeded 300,000 since his Texas Petro Index began tracking the numbers in 1995, said its developer, economist Karr Ingham. More »
Valero bought the plant in March from Illinois-based Aventine Renewable Energy Holdings Inc. for $34 million, boosting the number of its ethanol plants to 11. More »
ConocoPhillips senior economist Helen Currie, citing a study by the energy consulting firm IHS Inc., said prices at the pump would fall by about 8 cents a gallon should crude exports be allowed. More »
Houston-based Plains All American Pipeline LP said Thursday it plans to build a pipeline that would deliver as much as 200,000 barrels a day of crude oil to Valero’s Memphis plant when it’s completed in late 2016. More »
Houston-based Blue Dolphin Energy is turning a p;rofit on a refinery east of San Antonio that gets all its feedstock from the Eagle Ford Shale. More »
The company’s net income fell to $224 million, or $1.70 a share, compared with $227 million, or $1.64 a share, for the second quarter of 2013. More »
A fund that directs state oil royalties to Texas A&M and the University of Texas is approaching $1 billion in revenue for this year. More »
East Texas-based Navasota Energy plans to build natural-gas fired “peaking” units in Guadalupe and Wilson counties capable of quickly sending power to the Texas grid at times of heavy demand. More »
WellAware Holdings Inc., whose software lets energy companies track wells, pipelines and other oil-field equipment using smartphones, says it has secured $37 million in funding. More »
Pipeline and storage company Valero Energy Partners said Wednesday that its first-quarter net income fell 28 percent because of costs incurred as a new publicly traded company and because harsh winter weather stifled demand for products and slowed crude oil supplies. More »
Tesoro Corp. CEO Greg Goff said Thursday that the company’s plan to rail crude oil to the Port of Vancouver USA has been delayed as the state of Washington completes an environmental impact statement.
Higher margins for its fuels and more crude oil processed at its plants propelled Valero Energy Corp. to a 28 percent increase in net income in the first quarter, the company said Tuesday. More »