Warren Buffett -- chairman, president & CEO of Berkshire Hathaway -- gestures during a 2013  interview.  (AP Photo/Nati Harnik, File)

Buffett’s firm now owns nearly 14 percent of Phillips 66

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Berkshire now owns 73.98 million Phillips 66 shares worth roughly $5.9 billion.
(Jeff Kowalsky/Bloomberg News)

Marathon Petroleum profits dip more than 75 percent

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The Pennsylvania-based refining and pipeline company reported a $168 million net income gain for the final three months of the year, down from $805 million.
LyondellBasell CEO Bob Patel poses for a portrait at the LyondellBasell Channelview Chemical Company plant Friday, Aug. 21, 2015, in Channelview. 
 ( James Nielsen / Houston Chronicle )

LyondellBasell’s revenues dip by 31 percent, but earnings stay steady

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LyondellBasell is planning to spend up to $4 billion in capital through 2020 along the Gulf Coast, mostly in Texas.
Flags fly outside Dow Chemical Co. headquarters in Midland, Michigan, U.S., on Wednesday, Dec. 9, 2015. Dow Chemical Co. and DuPont Co., two historic giants of American industry, are considering a merger that would ultimately dismantle both along lines proposed by activist investors over the past two years. Photographer: Jeff Kowalsky/Bloomberg

Dow reports increased income, job cuts as DuPont merger looms

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Dow, the largest employer in Brazoria County, is planning to merge into the newly formed DowDuPont by the end of the year.
Tesoro-Logo

Tesoro misses expectations

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Tesoro, which operates six refineries in the western U.S., generated $1.5 billion in profits for 2015, up from $872 million in 2014.
Categories: General, Refining
(David Paul Morris/Bloomberg)

Valero beats expectations with $862 million in fourth quarter earnings

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San Antonio-based Valero Energy Corp. reported a 9.5 percent drop in fourth quarter earnings that strongly outperformed what analysts were expecting from nation’s largest independent oil refiner.
(AP file photo/Sue Ogrocki)

Valero raises dividend

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U.S. refiners have fared better than other parts of the energy industry during the downturn, as cheaper crude prices have boosted their margins
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Smoke at Exxon refinery in Beaumont due to power outage

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A refinery spokesman said no one was injured and there was no cause for alarm following the 3 p.m. outage. Non-essential personnel were “dismissed” from the facility.
Phillips 66 Sweeny refinery.  (Ryan Holeywell/Houston Chronicle)

Buffett’s firm buys another 1.6 million Phillips 66 shares

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Berkshire filed documents with the Securities and Exchange Commission on Friday that disclosed purchases of another 1.6 million Phillips 66 shares.
LNG storage tanks are seen at Cheniere's Sabine Pass LNG facility.  (J. Patric Schneider)

Cheniere delays first Sabine Pass LNG export

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The shipment was originally secluded to depart in late January.