Category: Refining

Tesoro’s profit falls in third quarter

Weak margins led to a decline in profit for refinery Tesoro Corp. in the quarter ended Sept. 30.  More »

Poor refining margins drive profit down at Total

French oil company Total said Thursday that net income fell 10 percent in the July-to-September period, partially due to poor refining margins amid a sluggish European economy.  More »

Phillips 66 profits fall on refining loss

Profits for oil refiner Phillips 66 dove 67 percent in the third quarter as its refining business fell to a $2 million loss, the company reported Wednesday.  More »

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 »