Refining and midstream giant Phillips 66 announced that it would increase its 2014 capital budget by $1.2 billion this year in order to fund its liquefied petroleum gas project as well as a recent acquisition. More »
San Antonio-based Valero Energy Corp. remains the largest U.S. refiner, with a daily capacity of more than 1.9 million barrels, according to a recent report from the U.S. Energy Information Administration. More »
Wal-Mart took the No. 1 spot on Fortune’s Gobal 500 ranking of the world’s largest companies based on revenue, but the top of the list was sloshing with oil.
Trains will roll all month out of the Permian Basin, the largest onshore U.S. oil field, as production outpaces pipeline capacity and a refinery outage saps demand. More »
The decision to allow two Texas companies to export a minimally distilled variety of ultralight oil is a win for Eagle Ford Shale crude producers, at the expense of refiners and companies planning to build processing plants along the Gulf Coast. Refiners were feeling the pain on Wall Street Wednesday. More »
Phillips 66 announced today that it will buy Spectrum Corp., a Memphis-based specialty lubricants company. More »
When Republican Reps. Kevin McCarthy and Steve Scalise claimed two of the top three spots in the House GOP leadership Thursday, oil refiners emerged as a potential big winner too. More »
Cheap, abundant U.S. shale gas will soon find its way to a new market: The flood of people moving from the countryside to dense cities in developing corners of the world. More »
Phillips 66 struck a deal Thursday for what may become its largest oil and refined-product storage terminal as it anticipates an influx of crude oil to migrate to the Gulf Coast. More »
All but three of the 26 Houston companies on latest Fortune 500 list are in the energy business. More »
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.
Energy companies have the nation’s most productive employees outside of the financial sector, according to a new USA TODAY data analysis. More »