(Photographer: Patrick Semansky/Bloomberg)

Crude slump leads to big profits for refiners

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Refiners are pocketing big profits as they soak up vast supplies of cheap oil and transform it into higher priced petroleum products, a new government report finds.
A United Steelworkers Union member pickets outside Marathon Petroleum Company's Galveston Bay Refining Division on Tuesday, March 3, 2015, in Texas City. ( Mayra Beltran / Houston Chronicle )

Fuel company settles claims over air emissions in 3 states

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The federal government said Marathon failed to comply with some fuel quality emissions standards along with record keeping, sampling and testing requirements.
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Tesoro halts plans for Utah oil pipeline

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Tesoro’s project, the Uinta Express Pipeline, was to have shipped thick waxy crude oil from Utah’s Uinta Basin to the company’s plant in Salt Lake City.
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Phillips 66 shelves plans for oil processing projects

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In a call with investors on Thursday, Phillips 66 revealed that it will postpone plans for at least a year to build a condensate splitter and second fractionator at its Sweeny refinery.
(Houston Chronicle: Eric Kayne)

LyondellBasell profits climb 23 percent

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LyondellBasell saw first-quarter profits climb 23 percent as it continued to enjoy access to cheap natural gas despite falling crude prices that have dragged down the prices the company fetches for its refined products and chemicals.
(Nick de la Torre/Houston Chronicle)

CERAWeek: Refiners remain competitive even if crude export ban lifted

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Refiners have benefitted from the crude collapse by buying up cheap oil and transforming it into higher-priced gasoline, diesel and other refined products, an executive with the world’s largest independent refinery said Monday.
(Photo by NOAA via Getty Images)

The Atlantic Ocean could have one of its quietest hurricane seasons in years

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About 4 percent of U.S. natural gas and 17 percent of oil production is centered in the Gulf.
Don Robicheaux, safety coordinator for Marathon, stands in front of a crude unit, part of Marathon's estimated $3.2 billion expansion in Garyville, La. (AP Photo/Cheryl Gerber, file)

United Steelworkers reviewing contract proposal from Marathon Petroleum

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Workers have been on strike since Feb. 1. Hancock said one of issues is Marathon’s move to dismantle the labor/management partnership that was launched after an explosion and fire killed 15 workers in 2005, when BP owned the refinery.
(Photographer: Patrick Semansky/Bloomberg)

U.S. refiners can bulk up to consume more domestic oil

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A new report from the Energy Information Administration suggests refiners can — and will — invest in new equipment to process the light oil flowing out of U.S. wells today, but a debate over crude exports could undermine some of those plans.
Representatives from the United Steel Workers Union (USW) hold a rally at the entrance to the Marathon refinery in Catlettsburg, Ky. Saturday Feb. 7, 2015. About 3,800 steelworkers began a strike Feb. 1 at refineries from California to Kentucky, saying that negotiations with Shell Oil Co. had broken down. Shell is negotiating the national contract for other oil companies.   (AP Photo/The Independent, Kevin Goldy)

Striking refinery workers in Kentucky will return to work this week

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The USW workers went on strike Feb. 1 as part of the original nine sites that launched a nationwide walk out.