Tag: refining

Chevron’s profits climb 13 percent thanks to refining boost

The second-largest U.S. oil company also benefited from selling off some some of its assets as part of three-year divestment program.  More »

Exxon sees profit rise on refining strength

Exxon CEO Rex Tillerson said that the earnings growth was “driven by higher margins and improved operations in the downstream and chemical businesses.”  More »

Marathon Petroleum warns against lifting crude export ban as profits triple

Marathon Petroleum Corp. saw its profits triple on the widening price spread between crude and refined products and a record quarter for its convenience store segment.  More »

Phillips 66 profits double on crude price plummet

Plummeting crude prices worldwide doubled Phillips 66′s profits in the third quarter, providing the company with a cheaper feedstock to run its refineries.  More »

Sasol approves plan for $8.1 billion ethane cracker near Lake Charles

The project is driven by the abundance of low-cost ethane and natural gas in the U.S., which has prompted many chemical makers to beef up their U.S. facilities.  More »

Citgo not for sale, Venezuela says

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 »

Natgasoline clears EPA hurdle for $1 billion methanol plant in Beaumont

The massive Beaumont project is expected to require thousands of construction workers and carry a more than $20 million annual payroll once it begins producing methanol at the end of 2016  More »

Gulf Coast crude imports fall to lowest level in 6 years

Advances in technology have unleashed vast new supplies of U.S. oil, reducing the nation’s need for foreign crude.  More »

Refiners: We can take all your oil

Refiners opposed to oil exports said Thursday they have more than enough plants and equipment to swallow up all of the light, sweet crude flowing out of U.S. wells, countering the chief argument of oil producers hoping for a new era of overseas sales.  More »

Saudi Aramco a “force to be reckoned with” in chemical industry

Seven years after the state-owned oil company of the world’s leading crude producing country began its march into petrochemicals, Saudi Aramco now stands to become a key player in global chemicals production, according to a new study by Houston-based energy analysts IHS.  More »

Delta: Oil exports would prompt refinery closures

Delta Air Lines’ top fuel executive on Tuesday made an impassioned argument against ending the longstanding ban on exporting crude, saying the proposed trade policy change would fatten oil producers’ bottom lines while hurting domestic refiners and consumers.  More »

Shale boom boosts diverse group of refining, LNG, petrochemical interests

Unlike the first wave of investment, which gave the biggest boost to smaller independent oil companies that got an early start in shale plays, the manufacturing resurgence will involve a diverse set of players, including chemical giants like Dow Chemical and LyondellBasell, which are planning to expand their capacity along the Gulf Coast, and midstream companies hoping to export LNG, according to a report by the Deloitte Center for Energy Solutions  More »
Page 1 of 1112345...10...Last »