Category: Refining

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 »

Lawmakers fear voters won’t approve of easing export ban

Some Republican congressional leaders and lawmakers from oil states have been reluctant to say much on the topic of easing the federal ban on oil exports.  More »

Chevron seeks buyer for Hawaiian refinery

Chevron hired an investment banking firm to identify potential buyers interested in its Hawaiian assets, which include the refinery in Kapolei on the island of Oahu, a pipeline that connects the refinery to a terminal in Honolulu and five terminals across the Hawaiian islands.  More »

Shell Oil, Motiva to pay $4.5 million in back wages to nearly 2,700 workers

Shell Oil Co. and Motiva Enterprises have agreed to pay nearly $4.5 million in overtime back wages to 2,677 current and former chemical and refinery employees after federal regulators found violations of federal labor law.  More »
Page 1 of 4612345...102030...Last »