Current contracts expire at 12:01 a.m. on Feb. 1. for most of the 30,000 oil workers – including 5,000 in Houston – covered by the labor agreements.
The United Steelworkers represent about 475 workers at the LyondellBasell Refinery. More »
The facility was to be located next to an $8 billion ethane cracker in Lake Charles, Louisiana. More »
“The implications of lifting restrictions on exporting domestic crude are less well known to lawmakers, much less the public,” said the executives from Alon USA, Monroe Energy, PBF Energy and Philadelphia Energy Solutions.
Citgo Petroleum Corp. is planning to raise $2.5 billion and transfer the funds to its cash-strapped corporate parent, state-owned Petroleos de Venezuela SA, according to a person with knowledge of the matter, Bloomberg News reports. More »
Crude has long coursed from Canada to Oklahoma through the existing Keystone pipeline. Southeast Texas connected to that line in January last year when the Keystone XL southern leg ending in Nederland was complete, and Gulf Coast plants are already refining crude from Canadian fields.
Royal Dutch Shell won’t move forward with plans for a new petrochemical plant in Qatar, the company announced Wednesday morning. More »
Bankrupt biofuel maker KiOR and controlling shareholder Vinod Khosla say the state of Mississippi is using legal tactics in an attempt to squeeze money from the company. More »
Oil prices may have dipped below $50 a barrel for the first time since April 2009, but ethanol plants across the nation continue to operate at a brisk pace in order to satisfy a domestic and export demand that hasn’t weakened. More »
The natural gas boom in the U.S. has led to a rush by major producers to put into place the infrastructure to ship overseas. More »
The Houston-based company has applied for a permit from the state’s environmental regulator to build a simplified splitter unit at its Sweeny refinery. More »
The company said it will spend $4.6 billion next year, with more than two-thirds of that investment earmarked for boosting its midstream assets. More »
Refiners say a century-old rule protecting American shipping will benefit overseas refining competitors if the U.S. starts exporting crude. More »
Phillips 66 is ending its ties to its refining business in Asia with a deal announced Wednesday to sell its 47-percent stake in a Malaysian refinery for $635 million in cash. More »
The project has backing from Sterling Private Capital and Eagle Oil & Gas Co., both based in Dallas. More »
Valero attributed the results to wider discounts for crude oils relative to the international benchmark crude and stronger gasoline margins in most regions. More »