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