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.
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 »
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 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 »
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 »
The EPA has proposed tougher rules for toxic emissions from refineries. More »
New Mexico Gov. Susana Martinez applauded the company’s investment in the state.
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 »
The unofficial rule of generating booth interest at the Offshore Technology Conference is the bigger the better. Cyberhawk bucks the trend. More »
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.
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 »
Westlake Chemical is planning to spin its ethylene production business into a master limited partnership in a $271 million debut on Wall Street, according to regulatory documents filed Tuesday. More »
Higher margins for its fuels and more crude oil processed at its plants propelled Valero Energy Corp. to a 28 percent increase in net income in the first quarter, the company said Tuesday. More »
Chevron Corp. plans to run higher- sulfur Alaskan and Middle Eastern crudes when it completes work at Northern California’s largest refinery in 2016, not the Bakken oil helping spur the U.S. path to energy independence. More »
Futuristic cars will be driving on downtown Houston roads during the next few days, competing to travel the furthest on the least amount of fuel for the Shell Eco-marathon challenge. More »