Category: Refining

Fog halts 92 ships at Houston, Sabine ship channels in Texas

About 92 vessels are waiting to pass through the Houston and Sabine ship channels in Texas after fog hampered visibility, according to the U.S. Coast Guard and a pilots group.  More »

Appeals filed in CITGO fine

CITGO Petroleum Corp. and the U.S. Justice Department have appealed a recent judge’s ruling that the company pay $9 million in a lawsuit the government brought over a major 2006 oil spill at the company’s Lake Charles refinery.  More »

Tesoro secures oil supply for Utah refinery

San Antonio-based refiner Tesoro Corp. announced yesterday that it will invest $180 million on a capital project at its Salt Lake City refinery that will expand its crude oil processing capacity by 7 percent.  More »

Valero sues insurer for rejecting costs of gasoline pollution complaints

Valero says Steadfast Insurance should have covered the refiner’s $45 million in legal costs related to complaints that a gasoline additive polluted groundwater.  More »

ConocoPhillips to increase capital spending to $15.5 billion in 2012

In addition to increasing its capital spending, ConocoPhillips announced Friday that it will repurchase up to $10 billion in common stock, funded by its ongoing asset sales.  More »

Sunoco idles Pa. refinery, 490 layoffs expected

Sunoco said it will idle a suburban refinery and lay off about 490 employees because of deteriorating market conditions.  More »

ConocoPhillips may sell Gulf refinery

ConocoPhillips (COP), the U.S. oil and gas company that plans to spin off its refining business next year, is seeking buyers for its Alliance refinery in Belle Chasse, Louisiana, according to two people familiar with the company’s plans.  More »

Sundrop Fuels seeks “biofuel” status for synthetic gasoline

Colorado-based Sundrop Fuels has announced it will locate its first plant in Louisiana. Gaining “biofuel” status from the Environmental Protection Agency will make its synthetic gasoline more marketable.  More »

Libyan official says oil output increasing fast

Libya’s oil production is quickly increasing and now stands at more than 600,000 barrels a day, a prominent Libyan oil expert said.  More »

Oil abundance in Canada provokes anxiety

Rivals Exxon Mobil Corp. (XOM) and China Petroleum & Chemical Corp. (386) each have bought a piece of Syncrude, one of the dozens of companies that are blasting, digging and steaming soil laden with 143 billion barrels of molasseslike crude called bitumen, Bloomberg Markets magazine reports in its January issue. Only Saudi Arabia, with 264 billion barrels, and Venezuela, with 211 billion, enjoy greater proven reserves, a BP Plc energy review found in June.  More »

EPA says it will delay greenhouse-gas standards for oil refineries

The Environmental Protection Agency says it will delay its first-ever standards for greenhouse-gas emissions from oil refineries.  More »

Executives named to post-split ConocoPhillips and Phillips 66

ConocoPhillips announced three executive vice presidents who will helm the post spin-off company and one will join the spinoff refining company.  More »