Posts filtered on Tag
Tesoro, which operates six refineries in the western U.S., generated $1.5 billion in profits for 2015, up from $872 million in 2014.
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.
The national oil company of Mexico, Pemex, authorized the project with ICA Fluor, which is Fluor’s joint venture with Mexico City-based Emprasas ICA energy construction company. Fluor’s share is for $500 million.
The project is supported by 250 miles of new pipelines and a multimillion-barrel storage cavern complex.
Houston didn’t stop growing when oil prices fell in the 1990s, and despite the massive layoffs across the energy industry, the city will continue its trend of expanding faster than the rest of the country, an economist said at a planning conference Friday.
Energy companies eager to sell raw, unprocessed U.S. crude around the world point to Valero’s posture as evidence that current export restrictions are fundamentally unfair, giving refiners access to world markets to buy the oil they use and sell the gasoline they make, even though domestic producers don’t have the same latitude.
The government of the U.S. Virgin Islands on Monday sued Houston-based Hess Corp. for more than $1 billion, alleging that the firm abandoned a massive oil refinery it had pledged to run through the year 2022.
Industry analyst Trilby Lundberg said Sunday that while the average remains unchanged, many Midwest cities saw prices jump due to a partial shutdown of an Indiana refinery.
The refinery can process as much as 270,000 barrels a day of heavy crude sent by pipeline from Alberta, with additional supply shipped up from Cushing, Oklahoma, the U.S. storage hub.
Texas-based oil manufacturer Tesoro Corp. has agreed to pay $4 million to settle a lawsuit claiming the company spewed smog- and ozone-producing pollutants at its refinery in Martinez.