Category: Refining

CVR Refining raises $600M in IPO

CVR Refining LP, the U.S. oil refiner controlled by billionaire investor Carl Icahn, raised $600 million in its initial public offering after pricing an increased number of units at the midpoint of the price range.  More »

Valero expanding Houston refinery for Eagle Ford crude

The world’s largest independent refiner says an expansion at its Houston plant will improve it capability to refine light, sweet crude from South Texas.  More »

Phillips 66 moving Bakken oil by rail in $1B deal

Phillips 66 has begun shipping crude by rail from North Dakota to a refinery in New Jersey in an effort estimated at more than $1 billion.  More »

Tesoro will convert Hawaii refinery to a terminal

Tesoro is converting its Kapolei Refinery in Hawaii into a terminal, then will put it up for sale.  More »

Oil tanker Overseas Reymar hits San Francisco’s Bay Bridge

The oil tanker Overseas Reymar struck “a glancing blow” to a tower of the San Francisco-Oakland Bay Bridge after unloading crude at a Royal Dutch Shell refinery the day before.  More »

Motiva Port Arthur Halts Crude Unit Start as Clamp Fails

Motiva Enterprises LLC shut down the 325,000-barrel-a-day crude unit at the Port Arthur refinery days after trying to restart it when a clamp that was modified to fix an earlier leak failed.  More »

Chevron firefighters may have gouged pipe

The pipe that fed a huge fire at Chevron’s Richmond oil refinery in August appears to have been punctured from the outside, possibly by company firefighters trying to get at a small leak before the blaze ignited, investigators said Thursday.  More »

Pipeline expansion from Cushing to Gulf almost complete

Work to more than double the capacity of a pipeline carrying crude oil from Cushing, Okla., to the Gulf Coast should be completed by the end of next week.  More »

Refiners beating Exxon join pipeline boom for lost margin

Refiners (S5OILR) from Tesoro Corp. (TSO) to Phillips 66 that gained as much as 86 percent this year are investing in pipelines for new revenue as margins for turning oil into gasoline narrow from record levels.  More »

Valero’s Gorder could eventually get top job

When the time comes for Valero Energy Corp. CEO Bill Klesse to relinquish his role as head of the giant refining company, the odds-on favorite to succeed him is company veteran Joe Gorder.  More »

NuStar to sell San Antonio refinery

San Antonio-based NuStar Energy LP said Monday it has agreed to sell its San Antonio refinery and related assets to an Indianapolis-based master limited partnership for $115 million.  More »

Phillips 66 to launch offering for MLP

Phillips 66 said it will file an initial public offering for some of its transportation assets in 2013. The company also announced a $3.7 billion capital program for the year, 6 percent higher than 2012 spending.  More »