Category: Refining

Valreo profit drops as fuel margins narrow

Significantly lower margins for gasoline and diesel fuel, as well as less favorable discounts for the oil it buys, led to a drop in net income for Valero Energy Corp. in the third quarter, the San Antonio company said Tuesday.  More »

Citgo crude unit listing, damaged after fire

Citgo Petroleum Corp.’s only crude unit at its refinery in Lemont, Illinois, is listing and initial assessments indicate it may have sustained extensive damage in a fire Oct. 23, said two people familiar with plant operations.  More »

Fire extinguished at suburban Chicago oil refinery

Officials are monitoring air quality near a suburban Chicago oil refinery after a fire lit up the evening sky.  More »

From RINs to Supply to Demand to Seasonality…Why Gasoline is Heading Lower

Let’s end at the beginning: retail gasoline prices are going to continue to head lower, and this post simply presents the case as to why, through some simple visuals.  But before we do that, here are some reasons as to why that downside could be more limited than it otherwise should be: –Stubbornly high input […]  More »

Iraq, Swiss firm sign $6B oil refinery contract

Iraq’s prime minister says his country has signed a $6 billion contract with Swiss company Satarem to build and run an oil refinery in southern Iraq.  More »

Tesoro reports larger leak from oil pipeline

A Tesoro Logistics LP pipeline has leaked 20,600 barrels of crude oil in a wheat field in northwestern North Dakota, the North Dakota Department of Health said Thursday.  More »

Jury absolves BP in gas leak trial

A massive release of noxious gas from a former BP refinery in Texas City caused no harm or nuisance to three people who lived nearby, a Galveston County jury said Tuesday.  More »

Uganda seeks investor to build $2.5 billion oil refinery

Uganda is looking for a lead investor to develop a refinery estimated to cost $2.5 billion, two weeks after issuing its first production license to China National Offshore Oil Corp. as it seeks to exploit reserves.  More »

Jurors to start deliberations Tuesday in BP refinery case

Jurors should set an example for other companies that put profit ahead of safety by punishing BP with a multibillion dollar fine for spewing toxic gases from its former Texas City refinery, an attorney said Monday at the end of a month-long trial.  More »

Kinder Morgan opens its BOSTCO oil terminal on Houston Ship Channel

Twenty of the 51 storage tanks built during the first phase of construction are being placed into service this month, and the remaining tanks will come online during the next six months.  More »

Breakthrough clean-air tech plant to launch in Texas

Skyonic Corp. has broken ground on a $126 million chemical plant that will convert a portion of the carbon dioxide emissions from a cement plant into products to be sold on the open market.  More »

Citgo said to plan FCC work at Lake Charles refinery in 2014

Citgo Petroleum Corp. plans to perform maintenance on a fluid catalytic cracker at its Lake Charles, Louisiana, refinery in the first quarter of 2014, a person familiar with the schedule said.  More »

Greenpeace to appeal activists’ jailing in Russia

Greenpeace said Friday it will appeal the Russian court rulings that sent its activists to jail for a protest at an offshore drilling platform in the Arctic.  More »

Tesoro closes deal to sell Hawaii refinery to Par Petroleum

Tesoro valued the acquisition at $325 million.  More »

Houston company to build new refinery amid oil production boom

Houston-based Rock River Resources will build a small refinery and facility for shipping crude by rail in Utah, providing new transportation and local refining for the growing oil production in the state, the company announced Tuesday.  More »