Kicking its strategy of using cheaper crude oil from U.S. shale plays into high gear, Phillips 66 has signed deals with three midstream companies to bring as much as 130,000 barrels a day of North American crude oil to its refineries.
Refiners are pushing the EPA to reduce the amount of ethanol they’re required to add to gasoline to avoid what they say will be a sharp spike in prices at the pump just as the summer driving season begins.
Top refining and petrochemical officials heard reassuring words on Monday from Bob Lutz, retired former vice chairman of General Motors Corp., who said fossil fuels will be around a long time, despite the current push for clean energy.
Nearly one third of those surveyed cited the skills shortage as the biggest threat to the sector, while a lack of skilled trainers was identified as a major training issue by more than 20 percent of participants.
A grand jury probe targeting Chevron in last year’s Richmond refinery fire has created a rift between the federal agency investigating the incident and environmental regulators seeking possible criminal charges against the oil giant
The expanded Motiva Port Arthur Refinery has reached its full operating capacity of 600,000 barrels of crude processing nearly eight months after a new unit suffered internal damage, causing a major disruption in the $10 billion expansion project.
Venezuelan President Hugo Chavez’ death isn’t expected to have a short-term impact on Gulf Coast refiners, but if there is a policy shift under his successor increased production could be a welcome benefit, analysts say.
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