Category: Refining

BP registers $2.4B as Carson, Calif., refinery sale completed

British oil giant BP has completed the sale of its Carson, Calif., refinery and other assets to San Antonio-based Tesoro Corp., an independent refiner and marketer of petroleum products, for $2.4 billion.  More »

Canadian refineries taking more U.S. crude

Canadian refineries are importing U.S. oil at a soaring rate, bringing in crude at four times historic levels as booming shale production continues to reshape the world oil market.  More »

Tesoro to pay $1.1 million to resolve Clean Air violations

San Antonio-based refiner Tesoro Corp. has agreed to pay $1.1 million to resolve claims that it failed to comply with Clean Air Act requirements at four refineries, the U.S. Environmental Protection Agency said Thursday.  More »

Renewable fuel standards distort markets, critics say

Renewable fuel standards are distorting the market for ethanol and other biofuels, panelists said at a conference on refining.  More »

Texas company planning Eagle Ford refinery

A North Texas company said Monday it plans to build a 10,000-barrel-a-day refinery in La Salle County in the booming Eagle Ford Shale and sell its fuels in the area. And the company has plans to build “several” more plants in the region.  More »

Tesoro’s purchase of BP Carson refinery on track

Tesoro Corp. is on track to become California’s largest refiner, with the company saying Friday that the Federal Trade Commission cleared the way for its planned acquisition of BP’s refinery in Carson, Calif.  More »

Strike called off after Exxon makes safety changes

Exxon Mobil Corp. has averted a strike at its Baytown refinery, one of the world’s largest sources of gasoline and diesel fuels, after a union there ratified a new agreement with the oil giant.  More »

Ground broken for oil refinery on ND reservation

The Three Affiliated Tribes have broken ground for a $450 million oil refinery on the Fort Berthold Indian Reservation in northwestern North Dakota  More »

Phillips 66 CEO: ‘By all metrics, we feel very good’

Phillips 66 CEO Greg Garland said he doesn’t expect the Keystone XL pipeline to gain U.S. approval this year and suggested regulators will need to “fix” requirements governing the blending of biofuels into gasoline. But Garland said neither of those issues are of serious concern to Phillips 66, which held its first shareholders meeting Wednesday.  More »

Exxon Mobil makes deal to avert refinery strike

Exxon Mobil Corp. appears to have averted a strike at one of the nation’s largest sources of gasoline and other petroleum products after reaching a tentative agreement with a union there.  More »

Valero might form an MLP

Just a day before Valero Energy Corp. was set to spin off its retail division, the company said Tuesday it may execute another separation by forming a master limited partnership.  More »

Refining margins push Valero profits

Valero reported net income attributable to Valero stockholders of $654 million, or $1.18 a share, for the period ended March 31. That compares with a net loss of $432 million, or 78 cents a share, for the first quarter of 2012.  More »