Category: Refining

Canadian crude rolling into Gulf Coast refineries

A competitor pipeline to Keystone XL already is funneling oil sands crude to Texas refineries at a rate of 100,000 barrels per day, despite environmentalists’ attempts to block the southward flow of the Canadian oil.  More »

Refinery troubles push gas price to February record

U.S. consumers facing the highest gasoline pump prices ever for February may see further increases as global crude oil futures climb and down refineries reduce fuel supplies.  More »

Steffy: Loophole lets companies punt on part of tax bills

In what may be the biggest mismatch since Bambi battled Godzilla, schoolchildren in Texas City were pitted against one of the country’s biggest refiners. Not surprisingly, the schoolchildren lost – again.  More »

Airgas announces plans for new carbon dioxide plant

Airgas Inc. will build a 450-ton-per-day liquid carbon dioxide plant in the Houston area to replace a plant at the Shell Deer Park refinery complex that is expected to close later this year.  More »

Report: Chevron should have replaced leaky pipe

Government investigators have found that a decades-old pipe that leaked and caused a massive fire at a Chevron refinery in California was corroded, and the company knew it should have been replaced.  More »

Retail gasoline sets seasonal record as plants shut, oil surges

Retail gasoline prices in the U.S. rose to a record for this time of year amid a decline in refinery production because of breakdowns and seasonal maintenance and an eight-week rally in crude futures.  More »

Growth pushes Team to new corporate offices

Fast-growing Team Industrial Services has moved its corporate headquarters to Sugar Land after outgrowing its space in Alvin.  More »

Domestic crude puts U.S. refineries in a sweet spot

U.S. refineries are staying busy despite reduced domestic demand for gasoline because they can use lower-cost U.S. oil, making the prices of their refined products attractive to foreign markets.  More »

Tesoro posts quarterly profit

San Antonio-based Tesoro Corp. swung to a profit in the fourth quarter, but its earnings were diminished by a charge related to its decision to close its refinery in Hawaii.  More »

Valero CEO touts company’s advantages

Valero Energy Corp. has advantages over its competitors because of the San Antonio refiner’s increasing production of high-margin distillates and its low operating costs, CEO Bill Klesse said Wednesday at a conference.  More »

Speculators driving spike in gasoline prices

The run-up primes drivers for another expensive year at the gas pump, at a time when Americans are already spending a greater portion of their income on fuel than they have in decades.  More »

BP completes $2.4B sale of Texas City refinery

British oil giant BP said Friday it has completed the sale of its Texas City refinery, where a 2005 explosion killed 15 workers, and other assets to Marathon Petroleum Corp. for roughly $2.4 billion.  More »

Phillips 66 announces gains for refining, chemicals businesses

Phillips 66 reported adjusted fourth-quarter earnings of $1.3 billion, thanks to cheaper crude oil from the United States and Canada.  More »

Valero profits double to $1 billion

San Antonio-based Valero Energy Corp. on Tuesday logged its highest fourth-quarter earnings per share since 2005, as profit more than doubled because of higher margins in all areas where the company does business.  More »

Billionaire investor calls for Hess spin off

Billionaire Paul Singer’s firm today proposed five new Hess board members and called on the company to consider strategic options including spinning off its Bakken shale assets.  More »