Category: Refining

Exports of diesel, heating oil jump 30%

U.S. exports of diesel and other distillate fuels reached a monthly record in July as global demand for fuel grows, according to new federal data.  More »

Phillips 66 plans 40 percent hike in annual spending

Phillips 66 said Friday it is planning to spend $2.7 billion next year to expand its midstream and chemicals businesses, as its once most lucrative business – petrochemical refining – has fallen on hard times.  More »

Phillips 66 raises share buyback program to $5 billion

Phillips 66 will be buy back $2 billion more in shares.  More »

Airline joins battle over biofuels

A refinery owned by Delta Air Lines has joined the battle against a government mandate to blend renewables into fuel supplies.  More »

North Dakota tribe looks at expanded energy development

The Three Affiliated Tribes is considering expanding a planned oil refinery on the Fort Berthold Reservation before it is even built, and also building a natural gas plant.  More »

Phillips 66 breaks ground on new Houston headquarters

Check out photos from the groundbreaking of Phillips 66′s new Houston headquarters, a 14-acre site in the Westchase district.  More »

Refiner to pay $1.9 million to settle oil lawsuit

Suncor oil refinery operators have agreed to pay $1.9 million to settle a lawsuit by federal and state authorities over a toxic spill that contaminated Sand Creek and the South Platte River.  More »

Worker killed in Mississippi refinery explosion, fire

Authorities are investigating the cause of an explosion and fire at a southern Mississippi refinery that killed one worker.  More »

Tesoro’s profit falls in third quarter

Weak margins led to a decline in profit for refinery Tesoro Corp. in the quarter ended Sept. 30.  More »

Poor refining margins drive profit down at Total

French oil company Total said Thursday that net income fell 10 percent in the July-to-September period, partially due to poor refining margins amid a sluggish European economy.  More »

Phillips 66 profits fall on refining loss

Profits for oil refiner Phillips 66 dove 67 percent in the third quarter as its refining business fell to a $2 million loss, the company reported Wednesday.  More »

Valreo profit drops as fuel margins narrow

Significantly lower margins for gasoline and diesel fuel, as well as less favorable discounts for the oil it buys, led to a drop in net income for Valero Energy Corp. in the third quarter, the San Antonio company said Tuesday.  More »