Category: Refining

Phillips 66 plans 40 percent hike in annual spending

Phillips 66 said Friday it is planning to spend $2.7 billion next year to expand its midstream and chemicals businesses, as its once most lucrative business – petrochemical refining – has fallen on hard times.  More »

Phillips 66 raises share buyback program to $5 billion

Phillips 66 will be buy back $2 billion more in shares.  More »

Airline joins battle over biofuels

A refinery owned by Delta Air Lines has joined the battle against a government mandate to blend renewables into fuel supplies.  More »

North Dakota tribe looks at expanded energy development

The Three Affiliated Tribes is considering expanding a planned oil refinery on the Fort Berthold Reservation before it is even built, and also building a natural gas plant.  More »

Phillips 66 breaks ground on new Houston headquarters

Check out photos from the groundbreaking of Phillips 66′s new Houston headquarters, a 14-acre site in the Westchase district.  More »

Refiner to pay $1.9 million to settle oil lawsuit

Suncor oil refinery operators have agreed to pay $1.9 million to settle a lawsuit by federal and state authorities over a toxic spill that contaminated Sand Creek and the South Platte River.  More »

Worker killed in Mississippi refinery explosion, fire

Authorities are investigating the cause of an explosion and fire at a southern Mississippi refinery that killed one worker.  More »

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 »