(Greyrock Energy)

California company to build GTL facility in Houston by Q4 2015

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The project has backing from Sterling Private Capital and Eagle Oil & Gas Co., both based in Dallas.
(AP Photo/Paul Sakuma)

Valero’s profit triples in third quarter

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Valero attributed the results to wider discounts for crude oils relative to the international benchmark crude and stronger gasoline margins in most regions.
Marathon Oil gas pump (AP Photo/Michael Conroy)

Marathon Petroleum warns against lifting crude export ban as profits triple

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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.
(AP Photo/Lisa Poole, File)

Phillips 66 profits double on crude price plummet

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Plummeting crude prices worldwide doubled Phillips 66’s profits in the third quarter, providing the company with a cheaper feedstock to run its refineries.
Site preparation has already begun for construction of Chevron Phillips Chemical’s new ethane cracker at its Baytown facility. (Chevron Phillips Chemical)

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

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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.
ALCS Citgo Sign

Citgo not for sale, Venezuela says

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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.
OCI101514

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

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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
Petroleo Brasileiro SA (Petrobras) natural gas storage tanks sit on an island in Guanabara Bay in the state of Rio de Janeiro, Brazil. (Dado Galdieri/Bloomberg)

Petrobras refinery is 60 percent over budget, audit court says

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The new refinery will cost $50,000 more per barrel than Petrobras’ previous facility.
(AP Photo/Pablo Martinez Monsivais)

Refiners to Obama: Keep renewable fuel quotas down

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Refiners warned the administration that if it gives in to Corn Belt demands for higher mandates, it could cause gasoline prices to spike.
Sen. John Hoeven, R-N.D., and former Interior Secretary Ken Salazar. (Jennifer A. Dlouhy/Houston Chronicle)

N.D. officials tout $4 billion plastic factory

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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.