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refining

(Photographer: Patrick Semansky/Bloomberg)

Crude slump leads to big profits for refiners

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Refiners are pocketing big profits as they soak up vast supplies of cheap oil and transform it into higher priced petroleum products, a new government report finds.
A driver refuels her car at a gas station of PetroChina, a subsidiary of CNPC (China National Petroleum Corporation), in Luoyang city, central China's Henan province, 19 August 2014. (File, Bloomberg)

China to cede top oil buyer spot back to U.S.

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China’s new ranking shows how the U.S. shale boom is reshaping flows of oil around the world as suppliers hunt for buyers amid a global glut. A surge in American production is reducing the need for the world’s biggest economy to import crude while the Asian nation seeks to take advantage of a slump in prices to fill its emergency stockpiles.
(Aaron M. Sprecher/Bloomberg)

KBR reports income up after restructuring that cut 1,000 jobs, 11 business segments

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The company announced a major restructuring of the business last December that includes 1,000 job cuts and a reduction in business segments to five from 16 that it said will result in a $200 million annual cost reduction.
(Daniel Acker/Bloomberg)

CERAWeek: Refiners need more infrastructure to process the surge of U.S. crude

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Revitalized North American crude production has created abundant sources of oil for refineries to process, but has raised the challenge of how to move it from the field to refineries.
(Nick de la Torre/Houston Chronicle)

CERAWeek: Refiners remain competitive even if crude export ban lifted

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Refiners have benefitted from the crude collapse by buying up cheap oil and transforming it into higher-priced gasoline, diesel and other refined products, an executive with the world’s largest independent refinery said Monday.
(Daniel Acker/Bloomberg)

Record gasoline output to curb biggest U.S. oil glut in 85 years

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Refiners are enjoying the best margins in two years as they finish seasonal maintenance of their plants before the summer driving season.
Chet Thompson is set to take over as president of the American Fuel and Petrochemical Manufacturers trade group in May 2015.

A former EPA lawyer has been tapped to lead U.S. refiners’ top lobbying group

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The hire suggests the American Fuel and Petrochemical Manufacturers trade association is preparing for big battles on biofuel mandates, crude-by-rail rules and oil exports.
Dow Chemical Co. chairman and CEO Andrew N. Liveris, front, addresses his employees and honored guests during the announcement of Dow's new ethylene production plant at Dow Texas Operations, Thursday, April 19, 2012, on the Brazosport College campus in Lake Jackson. (Nick de la Torre/Houston Chronicle)

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

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Dow has been under pressure from the hedge fund Third Point LLC to split its specialty chemical and petrochemical businesses.
(Andrey Rudakov/Bloomberg)

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

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Russia may increase oil exports by as much as 250,000 barrels a day this year, according to the Oxford Institute for Energy Studies.
(Photographer: Patrick Semansky/Bloomberg)

Crude inventories offer enough supply for a month of refining runs

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