Category: Refining

Valero CEO says gas prices likely have peaked

The Eagle Ford shale formation will put out 500,000 barrels of crude oil a day by the end of the year, Valero Energy Corp. (VLO) Chief Executive Officer Bill Klesse said after the company’s annual meeting in San Antonio.  More »

Phillips 66 launches, CEO touts refining business

Phillips 66 will implement several strategies to improve refining profits, including focusing on higher-yield diesel, said CEO Greg Garland.  More »

ConocoPhillips split becomes official as company ‘shrinks to grow’

Global oil giant ConocoPhillips splits into two smaller energy companies Tuesday, abandoning the super-major model that its retiring leader helped engineer a decade ago.  More »

Delta buys a refinery in bid to cut its fuel bill

Delta estimates the deal will cut its fuel bill by $300 million a year.  More »

Energy Transfer to buy Sunoco to add oil, gas logistics

Energy Transfer Partners LP (ETP) agreed to buy Sunoco Inc. (SUN) for $5.3 billion in shares and cash to add oil transportation and distribution assets.  More »

Sunoco closing to leave 2 refiners with 86% of East Coast market

Gasoline prices from Florida to Maine will probably rise after Sunoco Inc. (SUN)’s planned closing of a Philadelphia refinery this year makes the market less competitive, the American Antitrust Institute said.  More »

Detroit homeowners consider Marathon buyout offers

Marathon Petroleum Co. says the owners of most homes that it wants to buy near its southwest Detroit oil refinery are considering the company’s offer.  More »

Delta clear favorite for idle Pennsylvania refinery, analysts say

Delta Air Lines has emerged as a clear favorite to buy an idled ConocoPhillips refinery in Pennsylvania in an effort to satisfy its growing need for jet fuel, according to media reports.  More »

N. Dakota oil production doubles in past 2 years

North Dakota oil production has more than doubled in the past two years, and the state’s sweet crude is now helping to feed refineries on the East, West and Gulf coasts.  More »

Costs, fuel sales drop lead refinery to shut unit

Decreased jet fuel sales in Anchorage were a secondary factor into the decision to shut down a crude oil refining unit at the North Pole Refinery, which will cost 35 to 40 jobs, according to a spokesman for refinery owner Flint Hills Resources.  More »

The Fifth Circuit Gets it Wrong in overturning the EPA’s rejection of Texas small source review limits

Two weeks ago the Fifth Circuit released its opinion in Luminant v. EPA, (5th Cir. No. 10-60891, filed March 26, 2012) finding that the EPA’s decision to disapprove Texas Administrative Code 116.617 governing standard permits for pollution control equipment that “reduce or maintain currently authorized emission rates for facilities authorized by permit” was arbitrary and […]  More »

Delta said to seek fuel savings with ConocoPhillips refinery

Delta Air Lines Inc. (DAL), whose daily 2011 fuel bill was $32 million, may buy a ConocoPhillips (COP) refinery to help save 10 percent on a significant portion of its fuel needs, a person familiar with the matter said.  More »

North Pole Refinery to cut back on capacity

Operators of the North Pole refinery say they are taking steps to idle their No. 1 crude oil refining unit, which will mean the loss of 35 to 40 jobs over five months.  More »

Phillips 66 looks to pipes to blunt refining volatility

Phillips 66 will debut next month as the world’s largest independent refiner by market value. In the future, it may look more like a pipeline and chemical business.  More »

USW, Tesoro still discussing pact in N.D.

United Steelworkers members at Tesoro Corp.’s refinery in Mandan, N.D., voted Wednesday to authorize a strike over Tesoro’s cuts to benefits, a union leader said.  More »