Category: Refining

California cap & trade an Enron redux?

California is once again preparing to meddle in manipulated markets, adopting a structure disturbingly similar to Enron’s former playground in electricity.  More »

Refining chiefs expect more regulations under Obama

CEOs of Phillips 66 and Marathon Oil company said the reelection of Pres. Barack Obama means a wave of new regulations on their industry, during an energy conference Tuesday.  More »

Baker Hughes chairman says U.S. will face shale gas competition

The energy industry must educate the public and its elected officials about the benefits of technologies driving the natural gas shale boom, Baker Hughes’ chairman says.  More »

Repairs wrapping up at Motiva’s Port Arthur Refinery

By the end of this month, Motiva’s chief executive, Bob Pease, hopes to have all repairs made and the new crude unit fully functional by spring – almost a year after the unit was commissioned.  More »

NuStar to sell S.A. refinery, buy Eagle Ford pipelines

NuStar Energy LP said it will boost its investment in the Eagle Ford Shale and sell its San Antonio refinery as part of a plan to focus on more stable operations.  More »

Phillips 66 profits surge 52 percent

Larger profit margins in the refining business boosted third quarter earnings for Phillips 66, which banked $1.6 billion in net income during the period.  More »

Most East Coast refineries not damaged by Sandy

Oil refineries that make up 8 percent of U.S. refining capacity sit in the area hit by Hurricane Sandy. Nearly all were affected by the superstorm.  More »

BP reports fire at Texas City refinery

A fire has been reported in a section of BP’s Texas City refinery. There were no immediate reports of injuries.  More »

Chevron’s Indonesia unit starts $500 million steam-flood project

Chevron Corp. (CVX)’s Indonesian unit, the nation’s largest producer of crude, started a $500 million expansion of the project at Sumatra’s Duri field.  More »

LyondellBasell to pay dividends more often after gas boom

LyondellBasell Industries NV (LYB), the biggest maker of polypropylene plastic, plans to pay special dividends more often as a boom in U.S. natural gas production reduces costs and helps generate excess cash.  More »

Investor: Contracts show Lake Charles plant moving

A $2.5 billion chemical plant may be getting closer to reality in Lake Charles.  More »

Phillips 66, NuStar, Hess Cut refinery output as Sandy nears

Phillips 66, NuStar Energy LP and Hess Corp. are shutting or reducing output at their New Jersey refineries as a precaution ahead of landfall by Hurricane Sandy, which may become the worst storm to hit the U.S. East Coast in 100 years.  More »