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. More »
Going to work as an elementary-school kid can be a good thing, teaching lessons a child can take into the workplace — a big-time workplace.
Investors led by Elliott Associates have accused chief executive John Hess of stacking the board with cronies, some of whom had served as directors for almost three decades. More »
Hess Corp., the New York oil company targeted by Paul Singer’s Elliott Management Corp., plans to name six new board members, exit the energy trading and marketing businesses and sell its gasoline stations as it transforms to an exploration and production company. More »
Petroleo Brasileiro SA (PETR4), the world’s most indebted publicly traded oil company, is in talks with China Petroleum & Chemical Corp. (600028) to build a refinery in Brazil to meet growing domestic demand, Brazil’s energy minister said. More »
A competitor pipeline to Keystone XL already is funneling oil sands crude to Texas refineries at a rate of 100,000 barrels per day, despite environmentalists’ attempts to block the southward flow of the Canadian oil. More »
U.S. consumers facing the highest gasoline pump prices ever for February may see further increases as global crude oil futures climb and down refineries reduce fuel supplies. More »
In what may be the biggest mismatch since Bambi battled Godzilla, schoolchildren in Texas City were pitted against one of the country’s biggest refiners. Not surprisingly, the schoolchildren lost – again. More »
Airgas Inc. will build a 450-ton-per-day liquid carbon dioxide plant in the Houston area to replace a plant at the Shell Deer Park refinery complex that is expected to close later this year. More »
Government investigators have found that a decades-old pipe that leaked and caused a massive fire at a Chevron refinery in California was corroded, and the company knew it should have been replaced. More »
Retail gasoline prices in the U.S. rose to a record for this time of year amid a decline in refinery production because of breakdowns and seasonal maintenance and an eight-week rally in crude futures. More »