Category: Refining

Shell scraps plans for multi-billion dollar petrochemical plant

Royal Dutch Shell won’t move forward with plans for a new petrochemical plant in Qatar, the company announced Wednesday morning.  More »

KiOR says Miss. seeks to destroy it in court ploy

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 could drive down ethanol profits, but industry shielded

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 »

Cheniere lands 20-year natural gas deal in Portugal

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 »

Phillips 66 eyeing condensate splitter for Sweeny

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 »

Phillips 66 to spend $700M more next year

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 »

Decades-old laws figure in oil export debate

Refiners say a century-old rule protecting American shipping will benefit overseas refining competitors if the U.S. starts exporting crude.  More »

Phillips 66 to sell refining stake in Asia for $635M

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 »

California company to build GTL facility in Houston by Q4 2015

The project has backing from Sterling Private Capital and Eagle Oil & Gas Co., both based in Dallas.  More »

Valero’s profit triples in third quarter

Valero attributed the results to wider discounts for crude oils relative to the international benchmark crude and stronger gasoline margins in most regions.  More »

Marathon Petroleum warns against lifting crude export ban as profits triple

Marathon Petroleum Corp. saw its profits triple on the widening price spread between crude and refined products and a record quarter for its convenience store segment.  More »

Phillips 66 profits double on crude price plummet

Plummeting crude prices worldwide doubled Phillips 66′s profits in the third quarter, providing the company with a cheaper feedstock to run its refineries.  More »

Sasol approves plan for $8.1 billion ethane cracker near Lake Charles

The project is driven by the abundance of low-cost ethane and natural gas in the U.S., which has prompted many chemical makers to beef up their U.S. facilities.  More »

Citgo not for sale, Venezuela says

Venezuela has ruled out selling its U.S.-based refining subsidiary Citgo Petroleum Corp, Finance minister Rodolfo Marco Torres told Caracas-based El Universal newspaper in an interview published Sunday.  More »

Natgasoline clears EPA hurdle for $1 billion methanol plant in Beaumont

The massive Beaumont project is expected to require thousands of construction workers and carry a more than $20 million annual payroll once it begins producing methanol at the end of 2016  More »