A worker at Valero Energy's refinery in Three Rivers, Texas, Oct. 12, 2012. (Michael Stravato/The New York Times)

This summer’s high gas demand could lead to a heavier maintenance season for refineries

The summer saw high gasoline demand and ever-cheapening prices at the pump, but the fall is expected to see up to 1.3 million fewer barrels of crude oil a day processed into gasoline by refineries while some plants are temporarily shut down, said analyst Brad Heffern of RBC Capital Markets.
A worker walks under a road of pipelines at the Petroleos Mexicanos Miguel Hidalgo oil refinery in Tula de Allende, Mexico, on Thursday, March. 6, 2013. Susana Gonzalez /Bloomberg

Refiners would lose big if oil export ban is loosened, EIA report says

Congress is set to begin considering legislation to end the prohibition as soon as next week, though a split in the industry is complicating the effort to get it passed, particularly the Senate.
(Ty Wright/Bloomberg)

Labor Day weekend brings $1.4 billion in gas pump savings nationwide

This weekend will feature the lowest gasoline prices in more than a decade with gas prices 99 cents cheaper than this time last year after a dip of 18 cents just in August, which was the greatest decrease since 2008, GasBuddy added. Average national gas prices were $2.44 a gallon Wednesday morning compared to $3.43 last year.
Welders work on a stretch of the Texas Express Pipeline  during construction in the Texas Panhandle in April, 2013. The company's owners said Oct. 31, 2013, that the natural gas liquids pipeline had begun carrying products from Skellytown in Carson County to processing and storage facilities in Mont Belvieu, about 30 miles east of Houston. Houston-based Enterprise Products Partners operates the pipeline, and co-owns it with  Enbridge Energy Partners, Anadarko Petroleum, and  DCP Midstream Partners.

Navitas Midstream buys DCP pipes

The deal will send about 1,000 miles of natural gas gathering pipelines and 60-million cubic foot processing plant from Denver-based DCP Midstream to The Woodlands-based Navitas.
A very large smokestack flare burns off flammable product after an explosion in a processing facility at the ExxonMobil refinery in Torrance, Calif. on Wednesday, Feb. 18, 2015. A small ground fire was quickly extinguished and the facility's flare system was triggered for safety reasons. Two workers suffered minor injuries. (AP Photo/Daily Breeze, Chuck Bennett)

Ramp up delayed for Exxon Mobil’s Torrance refinery

A hearing set for Wednesday morning was delayed.
(Jeff Pachoud/AFP/Getty Images)

Gasoline prices dip sharply with end of summer driving season

Average retail gas prices in Houston came in at $2.25 a gallon Sunday, down 7.1 cents per gallon in the past week.
Phillips 66 operates the Gulf Coast Fractionators facility in Mont Belvieu, Texas. (Phillips 66)

Berkshire discloses $4.5 billion stake in Phillips 66

Berkshire held almost 58 million shares after purchases this week, or more than 10 percent of the total outstanding, according to a regulatory filing issued Friday by Warren Buffett’s Omaha, Nebraska-based company.
(Ty Wright/Bloomberg)

Gasoline prices hit 11-year seasonal low

Monday’s national average price of gasoline is $2.59 per gallon, which is the lowest average for late August since 2004, AAA stated, despite record-high demand and ongoing refinery problems. The Houston area averaged a lower $2.33 a gallon, according to GasBuddy’s daily survey of 2,559 gas outlets in Houston.
Carl Icahn, billionaire investor and chairman of Icahn Enterprises Holdings LP, center, walks outside of the Nasdaq MarketSite with Robert Greifeld, chief executive officer and president of Nasdaq OMX Group Inc., in New York, U.S., on Tuesday, March 27, 2012. (Scott Eells/Bloomberg)

Cheniere Energy names two Icahn allies to board of directors

The appointments give Icahn a foothold on the company’s eleven-member board of directors, following his investment company’s purchase of 19.4 million shares or an 8.2 percent stake in Cheniere in August.
A truck drives past a refinery in Salamanca, Mexico, 170 miles (280 kilometers) northwest of Mexico City on Saturday, Jan. 19, 2002. (AP Photo/Marco Ugarte)

Analysts: Little hope for more oil exports despite Mexico crude swaps

Market watchers say the largest impact of the decision could be its symbolic value, cementing a crack in the long-standing crude oil export ban that U.S. oil can flow through.