Category: Refining

Phillips 66 eyeing condensate splitter for Sweeny

The Houston-based company has applied for a permit from the state’s environmental regulator to build a simplified splitter unit at its Sweeny refinery.  More »

Phillips 66 to spend $700M more next year

The company said it will spend $4.6 billion next year, with more than two-thirds of that investment earmarked for boosting its midstream assets.  More »

Decades-old laws figure in oil export debate

Refiners say a century-old rule protecting American shipping will benefit overseas refining competitors if the U.S. starts exporting crude.  More »

Phillips 66 to sell refining stake in Asia for $635M

Phillips 66 is ending its ties to its refining business in Asia with a deal announced Wednesday to sell its 47-percent stake in a Malaysian refinery for $635 million in cash.  More »

California company to build GTL facility in Houston by Q4 2015

The project has backing from Sterling Private Capital and Eagle Oil & Gas Co., both based in Dallas.  More »

Valero’s profit triples in third quarter

Valero attributed the results to wider discounts for crude oils relative to the international benchmark crude and stronger gasoline margins in most regions.  More »

Marathon Petroleum warns against lifting crude export ban as profits triple

Marathon Petroleum Corp. saw its profits triple on the widening price spread between crude and refined products and a record quarter for its convenience store segment.  More »

Phillips 66 profits double on crude price plummet

Plummeting crude prices worldwide doubled Phillips 66′s profits in the third quarter, providing the company with a cheaper feedstock to run its refineries.  More »

Sasol approves plan for $8.1 billion ethane cracker near Lake Charles

The project is driven by the abundance of low-cost ethane and natural gas in the U.S., which has prompted many chemical makers to beef up their U.S. facilities.  More »

Citgo not for sale, Venezuela says

Venezuela has ruled out selling its U.S.-based refining subsidiary Citgo Petroleum Corp, Finance minister Rodolfo Marco Torres told Caracas-based El Universal newspaper in an interview published Sunday.  More »

Natgasoline clears EPA hurdle for $1 billion methanol plant in Beaumont

The massive Beaumont project is expected to require thousands of construction workers and carry a more than $20 million annual payroll once it begins producing methanol at the end of 2016  More »

Petrobras refinery is 60 percent over budget, audit court says

The new refinery will cost $50,000 more per barrel than Petrobras’ previous facility.  More »

Refiners to Obama: Keep renewable fuel quotas down

Refiners warned the administration that if it gives in to Corn Belt demands for higher mandates, it could cause gasoline prices to spike.  More »

N.D. officials tout $4 billion plastic factory

Two top North Dakota lawmakers were among the supporters of the project that would convert some of the state’s abundant natural gas into plastic.  More »

Exxon, Pemex sign cooperation agreement

The companies agreed to analyze exploration, drilling and refining opportunities.  More »
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