Technip CEO says technology buy means new U.S. opportunities
Technip’s purchase of key process technology will give it a chance to pursue new opportunities in the U.S., its CEO says. It also will gain 500 employees in Houston. More »
Cushing-to-Gulf Coast pipeline reversal completed
Owners of the Seaway project said the pipeline will begin carrying up to 150,000 barrels of crude per day to the Gulf Coast refining market this weekend. More »
Petrobras returns unit to service at Pasadena refinery
Petroleo Brasileiro SA (PETR4)’s Pasadena, Texas, refinery’s fluid catalytic cracker is back in service after it was shut down over the weekend following a power failure. More »
3 critically injured in Sinclair refinery fire
The initial investigation into a flash fire that critically injured three workers at the Sinclair oil refinery near Rawlins found that the workers were wearing special fire resistant clothing, but details on what might have caused the fire aren’t yet available. More »
Valero may have buyer for Aruba plant
Valero Energy Corp. said an interested party may be interested in buying its Aruba refinery for $350 million, plus working capital, according to a regulatory filing. More »
Tesoro Logistics earned $11.6 million in first quarter
Tesoro Logistics’ 37-cent earnings per unit met analysts’ expectations. More »
Valero CEO says gas prices likely have peaked
The Eagle Ford shale formation will put out 500,000 barrels of crude oil a day by the end of the year, Valero Energy Corp. (VLO) Chief Executive Officer Bill Klesse said after the company’s annual meeting in San Antonio. More »
Phillips 66 launches, CEO touts refining business
Phillips 66 will implement several strategies to improve refining profits, including focusing on higher-yield diesel, said CEO Greg Garland. More »
ConocoPhillips split becomes official as company ‘shrinks to grow’
Global oil giant ConocoPhillips splits into two smaller energy companies Tuesday, abandoning the super-major model that its retiring leader helped engineer a decade ago.
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Delta buys a refinery in bid to cut its fuel bill
Delta estimates the deal will cut its fuel bill by $300 million a year. More »
Energy Transfer to buy Sunoco to add oil, gas logistics
Energy Transfer Partners LP (ETP) agreed to buy Sunoco Inc. (SUN) for $5.3 billion in shares and cash to add oil transportation and distribution assets. More »
Sunoco closing to leave 2 refiners with 86% of East Coast market
Gasoline prices from Florida to Maine will probably rise after Sunoco Inc. (SUN)’s planned closing of a Philadelphia refinery this year makes the market less competitive, the American Antitrust Institute said. More »
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