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(Chris Ratcliffe/Bloomberg)

BP looks to sell Alabama petrochemical complex

BP said it is focusing more on world-scale, low-cost facilities that utilize BP proprietary technology.
Westlake Chemical CEO Albert Chao (Mayra Beltran/Houston Chronicle)

Westlake Chemical earnings up 10 percent, despite weakening market

Sharply lower oil prices for last year are cutting into advantages for U.S. chemical plants.
(David Paul Morris/Bloomberg)

Chevron will lay off thousands more workers, slash spending

The job cuts add to the list of 1,500 jobs already slashed this year, including 950 in Houston.
(Jeff Kowalsky/Bloomberg News)

Marathon, CVR post rising refining profits

Low gasoline prices are cutting into revenues, but low oil prices mean much lower feedstock costs and better margins.

Tesoro’s profits soar

The San Antonio-based refiner’s earnings from continuing operations jumped to $759 million, or $6.13 a share, compared with earnings of $397 million, or $3.06 a share, for the same period a year ago.
(David Paul Morris/Bloomberg)

Valero Energy’s profit jumps 30 percent

Valero, the nation’s largest refiner, attributed the higher net income mostly to higher margins in its refining segment and healthy demand.
LyondellBasell CEO Bob Patel left, and plant manager Todd Monette right, walk through the Olefins Plant of LyondellBasell Chemical Company during a tour Friday, Aug. 21, 2015, in Channelview. 
 ( James Nielsen / Houston Chronicle )

Low oil prices cut into LyondellBasell income

While North American profit margins are not as strong as they were last year, the petrochemical boom along the Gulf Coast is still moving forward.
Sweeny is the largest refinery by capacity in the portfolio of Phillips 66, Houston’s biggest Fortune 500 company. (Ryan Holeywell/Houston Chronicle)

Phillips 66 delays Sweeny startup after mechanical failure

The 100,000-barrel-a-day Fractionator One project at Phillips 66’s Sweeny complex is part of a $3 billion capital expansion project in southern Texas launched last year.
Phillips 66 Chairman and CEO Greg Garland.  ( James Nielsen / Houston Chronicle )

Phillips 66 cuts its capital budget nearly 20 percent

Phillips 66 also will move forward with a $2 billion share buyback program. Nearly 80 percent of Phillips 66’s growth capital is directed toward its midstream expansions in pipelines, storage and export terminals.
Rep. Gene Green, D-Texas in April 2014, before the House Energy and Commerce subcommittee on Oversight and Investigation. (AP Photo/Evan Vucci)

Green presses for safeguards in oil exports bill

Green already secured one change to the oil exports legislation, but he insists more safeguards are needed to ensure refining jobs aren’t hurt by unfettered crude trade.