Tesoro’s CEO touts clarity of purpose
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.
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Hess agrees to replace some directors amid investor pressure
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 to shed businesses after shareholder Elliott’s demands
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 »
Petrobras in talks with Sinopec to develop Brazil refineries
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 »
Canadian crude rolling into Gulf Coast refineries
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 »
Refinery troubles push gas price to February record
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 »
Steffy: Loophole lets companies punt on part of tax bills
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 announces plans for new carbon dioxide plant
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 »
Report: Chevron should have replaced leaky pipe
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 sets seasonal record as plants shut, oil surges
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 »
Growth pushes Team to new corporate offices
Fast-growing Team Industrial Services has moved its corporate headquarters to Sugar Land after outgrowing its space in Alvin. More »
Domestic crude puts U.S. refineries in a sweet spot
U.S. refineries are staying busy despite reduced domestic demand for gasoline because they can use lower-cost U.S. oil, making the prices of their refined products attractive to foreign markets. More »
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