The oil and gas industry’s top trade groups doggedly insist that Congress must completely scrap a federal mandate that forces gasoline makers to blend in ethanol and other renewable fuels. But not all oil companies are on board.
The California proposal on the governor’s desk would help close regulatory gaps that federal investigators found played a role in the fire at Chevron’s Richmond refinery last year, supporters say. Currently, the state has just seven inspectors. The added help would bring the total to 26 under the new budget.
Houston-based Par Petroleum Corp. will pay Tesoro $75 million, plus working capital of $225 million to $275 million, for the 94,000-barrel-a-day refinery in Kapolei, Hawaii. The deal includes the purchase of retail stores and associated logistics.
A Bloomberg News survey shows diesel cargoes booked for export from the Gulf Coast to Europe is set to climb as production of distillate fuel oils in the region hit the highest level since at least January 1990.
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