Category: Refining

North American refiners beating European profits by $6 per barrel

North American refiners banked an extra $6 per barrel of oil processed compared to their European counterparts in the first quarter of 2014, continuing a three-year streak of significantly higher profits, according to a U.S. Energy Information Administration analysis of 26 companies.  More »

Phillips 66 says court supports Sweeny takeover from PDVSA

The International Chamber of Commerce’s Court of Arbitration last month upheld Phillips 66’s right to exercise a call option in 2009 and assume PDVSA’s interest in Merey Sweeny LP, Rich Johnson, a spokesman for the Houston-based refiner, said in an e-mail Wednesay.  More »

Koch Industries to buy PetroLogistics for $1.75B

Houston petrochemical supplier PetroLogistics said Wednesday it will sell itself to the refining arm of Koch Industries in a deal that will take it private for $1.75 billion.  More »

EPA Proposes new “residual risk” rule for refineries

Cross Posted from Center for Progressive Reform Blog: On May 14, 2014, the EPA proposed new rules to control “residual risk” from hazardous air emissions (such as from benzene) at the nation’s petroleum refineries.     The Clean Air Act requires the EPA to calculate whether or not residual risk to human health exists after […]  More »

Marathon Petroleum buys Hess retail for $2.87 billion

Marathon Petroleum Corp. (MPC) agreed to acquire Hess Corp.’s gasoline stations and retail business for a total of $2.87 billion, expanding its footprint to 23 states from nine.  More »

Shell considers retiring California coker amid shale boom

Royal Dutch Shell Plc, Europe’s biggest oil company, is considering retiring one of two coking units at its only refinery in California as the company seeks to run lighter crude at the plant.  More »

EPA proposes changes to refinery emission rules

The EPA has proposed tougher rules for toxic emissions from refineries.  More »

Rangeland building oil and gas hub in New Mexico

New Mexico Gov. Susana Martinez applauded the company’s investment in the state.  More »

Refining chief: We don’t oppose US oil exports

Phillips 66 Chairman and CEO Greg Garland said the company doesn’t oppose potential exports of U.S. crude oil, arguing that a free market approach would be best, regardless of the product.  More »

Cyberhawk’s OTC booth offers hidden treasure — if you can find it

The unofficial rule of generating booth interest at the Offshore Technology Conference is the bigger the better. Cyberhawk bucks the trend.  More »

Tesoro’s crude rail plans hit delay in Washington state

Tesoro Corp. CEO Greg Goff said Thursday that the company’s plan to rail crude oil to the Port of Vancouver USA has been delayed as the state of Washington completes an environmental impact statement.  More »

Phillips 66 profits rise in first quarter

Refining giant Phillips 66 saw profits grow 12 percent in the first quarter, the company reported Wednesday morning, due to strong growth in its midstream business and earnings from a previously-announced subsidiary sale.  More »