Tag: refining

Dow Chemical, Olin in $5 billion cash-and-stock deal

Dow has been under pressure from the hedge fund Third Point LLC to split its specialty chemical and petrochemical businesses.  More »

Russian exports could be the next biggest threat to global crude oil prices

Russia may increase oil exports by as much as 250,000 barrels a day this year, according to the Oxford Institute for Energy Studies.  More »

Crude inventories offer enough supply for a month of refining runs

The U.S. has enough oil to feed 29 days of refinery demand, the highest level in decades, according to a new government report.  More »

Europe refiners’ gasoline profit at 10-month high on exports

Gasoline’s crack, or premium to Brent crude, rose to $13.46 a barrel on Tuesday, the highest since April 29, according to PVM Oil Associates Ltd, one of the largest brokers for the fuel, before falling to $13.13 at 1:21pm London time.  More »

Crude inventories at their highest level in decades after another build

Total crude oil inventories now stand at 444.4 million barrels, a modern-era high.  More »

Repsol profit triples as refining counterbalances oil drop

Oil’s drop of almost 50 percent over the past six months pushed companies from Total SA and Royal Dutch Shell Plc to BP Group Plc and Statoil ASA to announce investment cuts in the past month.  More »

EIA: U.S. crude inventories grow again

The inventory report included a number of figures that have worried analysts in the past.  More »

Fluor wins new work, will hold steady on jobs amid low oil prices

Engineering and construction firm Fluor Corp.’s revenue fell in the fourth quarter, but its backlog grew faster even though oil companies and other customers are spending less amid low crude prices.  More »

World’s largest oil exporter said to seek $10 billion

The rapid decline in oil prices since June last year may encourage a wave of consolidation and acquisitions in the energy sector.  More »

LyondellBasell’s fourth-quarter writedown drags down record year

Lyondell did not mention an industry-wide labor strike by United Steelworkers that sent union members picketing the company’s U.S. headquarters in downtown Houston.  More »

Phillips 66 earnings up 39 percent

The company’s profits in its marketing and specialties division soared, rising from $105 million in the fourth quarter of 2013 to $367 million a year later.  More »

Citgo said to plan $2.5 billion of debt for Venezuela dividend

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 »

Shell scraps plans for multi-billion dollar petrochemical plant

Royal Dutch Shell won’t move forward with plans for a new petrochemical plant in Qatar, the company announced Wednesday morning.  More »

Canadian oil surge to U.S. Gulf puts Mexico on defensive

The Canadian supply will square off against crudes from Mexico and Venezuela that have traditionally fed refineries along the Texas and Louisiana coasts.  More »

Phillips 66 to spend $700M more next year

The company said it will spend $4.6 billion next year, with more than two-thirds of that investment earmarked for boosting its midstream assets.  More »
Page 1 of 1012345...10...Last »