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Ryan Lance, chairman and CEO of ConocoPhillips ( Marie D. De Jesús / Houston Chronicle )

ConocoPhillips CEO: Oil downturn could stretch into 2017

ConocoPhillips, the No. 3 U.S. oil company, announced a quarterly loss on Thursday and said it is cutting its shareholder dividend by two thirds.
(Jeff Kowalsky/Bloomberg News)

Marathon Petroleum profits dip more than 75 percent

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

LyondellBasell is planning to spend up to $4 billion in capital through 2020 along the Gulf Coast, mostly in Texas.

Tesoro misses expectations

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

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.
S-Oil Corp. refinery facilities operate at dawn in Ulsan, South Korea, on Thursday, Jan. 23, 2014. Saudi Arabian Oil Co. (Saudi Aramco), the world?s largest crude exporter, will buy a $2 billion stake in S-Oil Corp., South Korea?s third-largest oil refiner. Photographer: SeongJoon Cho/Bloomberg

Saudi Aramco’s refining empire could be IPO focus

The kingdom owns, either directly or through joint-ventures, plants capable of processing 5.3 million barrels a day.
A worker cycles through the China Petroleum & Chemical Corp. (Sinopec) Yanshan refinery in Beijing. The world’s second-largest economy, which gets more than half of its crude from overseas, plans to build emergency reserves equivalent to 100 days of net imports by 2020, China Petrochemical Corp., the nation’s top refiner and parent company of Sinopec, said in 2009, citing the plan approved by the State Council. (Nelson Ching/Bloomberg)

Saudi to increase its refining presence in Asia

Sixty-nine years after the birth of ABBA’s Benny Andersson, and the name of the game for the crude complex today is to navigate the tricky business of a weekly inventory report and the conclusion of the US Federal Reserve FOMC meeting. Last night’s API report has put the wobbles on expectations for today’s weekly EIA […]
Categories: Crude oil
An oil tanker navigates the Houston Ship Channel in Houston, Texas. (Carter Smith/ Bloomberg News file photo)

Lifting crude export ban is “stocking full of soot” for refiners

Congress may be close to reaching an overall budget deal that would include lifting the exports, which would equate to an early Christmas present for exploration and production companies seeking more buyers for their oil and also a “stocking full of soot for the refiners,” Wells Fargo Securities said in a new report.
(AP file photo)

China unleashing commodity torrent

The flood is compounding a worldwide surplus of commodities that’s driven returns from raw materials to the lowest since 1999, threatening producers from India to Pennsylvania and aggravating trade disputes.
(Patrick Semansky/Bloomberg)

Wood Group buys The Infinity Group for $150 million

The privately-owned Infinity was founded in 1952 and is headquartered south of Houston in Clute, but the company also operates in La Porte along the Houston Ship Channel.