Category: Refining

Pa. tax legislation could attract Shell refinery

New legislation in Pennsylvania could help the state compete with Ohio and West Virginia for a huge petrochemical refinery by offering millions of dollars in tax breaks for big businesses.  More »

U.S. refinery union says strike possible as contract deadline nears

The union representing more than 30,000 workers at refineries, terminals and pipelines throughout the U.S. warned members that a strike may be imminent as negotiations with the industry near a Feb. 1 deadline.  More »

Downtown tower named after LyondellBasell

Here’s one way to keep an office tenant from leaving: put its name on the building.  More »

Kinder Morgan predicts huge investments in natural gas pipelines

Kinder Morgan, the largest independent transporter of petroleum products in the U.S., is planning its pipeline growth around an inevitable shift to natural gas in the U.S., according to CEO Richard Kinder.  More »

Lack of pipelines drives price gap between Brent and WTI Index

The price differences between Brent crude oil and West Texas Intermediate (WTI) crude oil market prices are the result of a shortage of U.S. pipeline capacity and will continue to increase, according to energy pricing consultants.  More »

CVR gets stock boost from Icahn tie

CVR Energy Inc., the refining company formerly owned by Goldman Sachs Group Inc., rose the most in five months after announcing that entities associated with billionaire Carl Icahn invested in the company.  More »

SD judge asked to throw out oil refinery permit

Opponents of a proposed $10 billion oil refinery urged a judge Thursday to strike down a state permit that would allow the project to be built in southeastern South Dakota.  More »

SD court hearing set in oil refinery dispute

The fight over a Texas company’s plan to build a $10 billion oil refinery in southeastern South Dakota is moving to court.  More »

Chevron warns on 4Q profit

Chevron said its fourth-quarter profit will be “significantly” lower than the third-quarter results, partly because of weaker profit margins on refining and marketing. The oil giant said Wednesday that its usually profitable refining and marketing business will roughly break even. Refinery volumes were weak, the company said.  More »

Tesoro plans to sell its Hawaii refinery

San Antonio-based refiner Tesoro Corp. said Tuesday that it plans to put its Hawaii operations on the auction block, including its Kapolei refinery, 32 retail stations and all assets related to those operations.  More »

Marathon Petroleum expects net loss for fourth quarter

The refining company, which split from Marathon Oil last year, said rising crude oil prices hurt its profits in the final months of 2011.  More »

Exports fuel record year for U.S. diesel production

European demand for diesel led to record exports and depleted domestic inventory of distillate fuels by 13 million barrels in the last quarter of 2011, according to a federal report.  More »

Gulf Coast working to fill a fuel void in Northeast

Northeastern states are slated to lose half of their regional capacity for fuel production by midyear as financial woes push refineries there to idle, a trend likely to increase the region’s dependency on Gulf Coast supply.  More »

Petroplus shuts three refineries as credit freeze halts supplies

Petroplus Holdings AG, Europe’s largest independent refiner by capacity, will suspend operations at three plants in the region after banks froze $1 billion of the company’s loans, cutting crude supplies.  More »

Feds: More Gulf Coast fuel needed to supply Northeast

Plans to idle three major Pennsylvania refineries could leave the Northeast starved for gasoline and other fuels, according to a report released by the Energy Information Administration.  More »
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