Citgo Petroleum Corp. is planning to raise $2.5 billion and transfer the funds to its cash-strapped corporate parent, state-owned Petroleos de Venezuela SA, according to a person with knowledge of the matter, Bloomberg News reports. More »
Crude has long coursed from Canada to Oklahoma through the existing Keystone pipeline. Southeast Texas connected to that line in January last year when the Keystone XL southern leg ending in Nederland was complete, and Gulf Coast plants are already refining crude from Canadian fields.
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 »
The same drilling bonanza that bestowed the chemical industry with cheap feedstock also flooded the world market with oil and gas at a time when the global demand for such products has started to flatten. More »
As companies scramble to announce new plants and expansion projects to capitalize on abundant supplies of cheap, natural gas, Cheniere Energy is nearly finished with the first phase of its liquefaction export terminal. More »
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 »
Shell Oil Co. and Motiva Enterprises have agreed to pay nearly $4.5 million in overtime back wages to 2,677 current and former chemical and refinery employees after federal regulators found violations of federal labor law. More »
Ethanol production has become a key issue in Iowa’s closely matched U.S. Senate race, with both candidates pledging support for an industry that is important to the state’s corn-powered agricultural economy More »
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