Houston firm to buy Tesoro’s Hawaii refinery
Houston-based Par Petroleum Corp. will pay Tesoro $75 million, plus working capital of $225 million to $275 million, for the 94,000-barrel-a-day refinery in Kapolei, Hawaii. The deal includes the purchase of retail stores and associated logistics. More »
Rail picks up steam as a way to move crude
The surge in North American oil production has prompted energy companies to invest heavily in a 19th-century technology: rail. More »
Texas company planning Eagle Ford refinery
A North Texas company said Monday it plans to build a 10,000-barrel-a-day refinery in La Salle County in the booming Eagle Ford Shale and sell its fuels in the area. And the company has plans to build “several” more plants in the region. More »
Tesoro’s purchase of BP Carson refinery on track
Tesoro Corp. is on track to become California’s largest refiner, with the company saying Friday that the Federal Trade Commission cleared the way for its planned acquisition of BP’s refinery in Carson, Calif. More »
EnCap Flatrock to invest $200M in midstream projects
San Antonio-based EnCap Flatrock Midstream, a series of private equity funds, plans to invest $200 million in a Dallas-based company that will develop midstream projects in North America. More »
Women’s Energy Network launches S. Texas group
The newest WEN chapter joins those in Houston and five other regions. Goals of the group include fostering women’s careers in the field and developing women leaders. More »
Tesoro expects to close soon on California plant
Greg Goff, CEO of Tesoro Corp., said Thursday that the company expects to close on its $2.5 billion acquisition of BP PLC’s refinery in Carson, Calif., by the end of the second quarter. More »
Tesoro income jumps 66% in first quarter
Capital improvements and higher margins driven by the company’s use of discounted crude oil led refiner Tesoro Corp. to a 66 percent increase in profit in the first quarter, the company said. More »
Valero might form an MLP
Just a day before Valero Energy Corp. was set to spin off its retail division, the company said Tuesday it may execute another separation by forming a master limited partnership. More »
Refining margins push Valero profits
Valero reported net income attributable to Valero stockholders of $654 million, or $1.18 a share, for the period ended March 31. That compares with a net loss of $432 million, or 78 cents a share, for the first quarter of 2012. More »
Valero spinoff will form San Antonio’s 3rd-largest company
CST Brands will take over almost 1,900 retail sites in the United States and Canada and plans to build 15 new U.S. locations this year, with Texas as a key focus. More »
Summer relief at gas pumps
This spring, drivers are getting a bit of relief at the pump, as the nation’s average price at the pump has fallen 15 cents a gallon in the last month. More »
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