John Hess, chairman and CEO of Hess Corp. (F. Carter Smith/Bloomberg )

U.S. Virgin Islands sues Hess Corp. over shuttered refinery

The government of the U.S. Virgin Islands on Monday sued Houston-based Hess Corp. for more than $1 billion, alleging that the firm abandoned a massive oil refinery it had pledged to run through the year 2022.
(Valero Energy Corp.)

Wood Group partners with Koch Industries to convert Texas refinery for Eagle Ford oil

The $600 million “Project Eagle Ford” by Koch’s Flint Hills Resources subsidiary is part of a growing trend as more Gulf Coast refineries move to utilize cheaper, nearby domestic shale crude.
Warren Buffett -- chairman, president & CEO of Berkshire Hathaway -- gestures during a 2013  interview.  (AP Photo/Nati Harnik, File)

Berkshire Hathaway picks up another 3.5 million Phillips 66 shares

Buffett said in interviews earlier this week that Berkshire Hathaway had bought more than 10 percent of Phillips 66 stock because he really likes that company’s mix of refining and chemical businesses.
Environmentalists want California Gov. Jerry Brown. (AP file photo/Nick Ut)

California’s climate fight comes down to late negotiations

The Democratic governor has to break through a logjam in his own party in the final week of the legislative session.
A worker at Valero Energy's refinery in Three Rivers, Texas, Oct. 12, 2012. (Michael Stravato/The New York Times)

This summer’s high gas demand could lead to a heavier maintenance season for refineries

The summer saw high gasoline demand and ever-cheapening prices at the pump, but the fall is expected to see up to 1.3 million fewer barrels of crude oil a day processed into gasoline by refineries while some plants are temporarily shut down, said analyst Brad Heffern of RBC Capital Markets.
A worker walks under a road of pipelines at the Petroleos Mexicanos Miguel Hidalgo oil refinery in Tula de Allende, Mexico, on Thursday, March. 6, 2013. Susana Gonzalez /Bloomberg

Refiners would lose big if oil export ban is loosened, EIA report says

Congress is set to begin considering legislation to end the prohibition as soon as next week, though a split in the industry is complicating the effort to get it passed, particularly the Senate.
(Ty Wright/Bloomberg)

Labor Day weekend brings $1.4 billion in gas pump savings nationwide

This weekend will feature the lowest gasoline prices in more than a decade with gas prices 99 cents cheaper than this time last year after a dip of 18 cents just in August, which was the greatest decrease since 2008, GasBuddy added. Average national gas prices were $2.44 a gallon Wednesday morning compared to $3.43 last year.
Welders work on a stretch of the Texas Express Pipeline  during construction in the Texas Panhandle in April, 2013. The company's owners said Oct. 31, 2013, that the natural gas liquids pipeline had begun carrying products from Skellytown in Carson County to processing and storage facilities in Mont Belvieu, about 30 miles east of Houston. Houston-based Enterprise Products Partners operates the pipeline, and co-owns it with  Enbridge Energy Partners, Anadarko Petroleum, and  DCP Midstream Partners.

Navitas Midstream buys DCP pipes

The deal will send about 1,000 miles of natural gas gathering pipelines and 60-million cubic foot processing plant from Denver-based DCP Midstream to The Woodlands-based Navitas.
A very large smokestack flare burns off flammable product after an explosion in a processing facility at the ExxonMobil refinery in Torrance, Calif. on Wednesday, Feb. 18, 2015. A small ground fire was quickly extinguished and the facility's flare system was triggered for safety reasons. Two workers suffered minor injuries. (AP Photo/Daily Breeze, Chuck Bennett)

Ramp up delayed for Exxon Mobil’s Torrance refinery

A hearing set for Wednesday morning was delayed.
(Jeff Pachoud/AFP/Getty Images)

Gasoline prices dip sharply with end of summer driving season

Average retail gas prices in Houston came in at $2.25 a gallon Sunday, down 7.1 cents per gallon in the past week.