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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.
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 is planning to spend up to $4 billion in capital through 2020 along the Gulf Coast, mostly in Texas.
Tesoro, which operates six refineries in the western U.S., generated $1.5 billion in profits for 2015, up from $872 million in 2014.
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.
The kingdom owns, either directly or through joint-ventures, plants capable of processing 5.3 million barrels a day.
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 […]
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.
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.
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.