(AP Photo/Lisa Poole, File)

Phillips 66 profits fall on refining loss

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Profits for oil refiner Phillips 66 dove 67 percent in the third quarter as its refining business fell to a $2 million loss, the company reported Wednesday.
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Valreo profit drops as fuel margins narrow

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Significantly lower margins for gasoline and diesel fuel, as well as less favorable discounts for the oil it buys, led to a drop in net income for Valero Energy Corp. in the third quarter, the San Antonio company said Tuesday.
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Citgo crude unit listing, damaged after fire

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Citgo Petroleum Corp.’s only crude unit at its refinery in Lemont, Illinois, is listing and initial assessments indicate it may have sustained extensive damage in a fire Oct. 23, said two people familiar with plant operations.
(Photo: Mathijs B/Flickr)

Fire extinguished at suburban Chicago oil refinery

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Officials are monitoring air quality near a suburban Chicago oil refinery after a fire lit up the evening sky.

From RINs to Supply to Demand to Seasonality…Why Gasoline is Heading Lower

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Let’s end at the beginning: retail gasoline prices are going to continue to head lower, and this post simply presents the case as to why, through some simple visuals.  But before we do that, here are some reasons as to why that downside could be more limited than it otherwise should be: –Stubbornly high input […]
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Iraqi workers are seen at the Rumaila oil refinery, near the city of Basra, 340 miles southeast of Baghdad. (AP photo: Nabil al-Jourani)

Iraq, Swiss firm sign $6B oil refinery contract

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Iraq’s prime minister says his country has signed a $6 billion contract with Swiss company Satarem to build and run an oil refinery in southern Iraq.
Categories: Refining
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Tesoro reports larger leak from oil pipeline

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A Tesoro Logistics LP pipeline has leaked 20,600 barrels of crude oil in a wheat field in northwestern North Dakota, the North Dakota Department of Health said Thursday.
(AP Photo)

Jury absolves BP in gas leak trial

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A massive release of noxious gas from a former BP refinery in Texas City caused no harm or nuisance to three people who lived nearby, a Galveston County jury said Tuesday.
Categories: Legal issues, Refining
FILE--In this 2010 file photo, an oil well undergoes testing in the Lake Albertine region of western Uganda. Even before the first drops flow, Uganda's oil sector is beset by bribery allegations against officials, tax-related cases abroad that cost the government millions in legal fees, and the alleged interference of a president whose firm control of the sector worries transparency campaigners. (AP Photo/Monitor Publications Ltd, File)

Uganda seeks investor to build $2.5 billion oil refinery

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Uganda is looking for a lead investor to develop a refinery estimated to cost $2.5 billion, two weeks after issuing its first production license to China National Offshore Oil Corp. as it seeks to exploit reserves.
Categories: Refining
The Texas City Refinery is shown in March 2005. The facility now belongs to Marathon Petroleum. (AP file photo/Tony Gutierrez)

Jurors to start deliberations Tuesday in BP refinery case

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Jurors should set an example for other companies that put profit ahead of safety by punishing BP with a multibillion dollar fine for spewing toxic gases from its former Texas City refinery, an attorney said Monday at the end of a month-long trial.