The Texas environmental agency has rejected a request by oil giant Valero for a large tax break and potential $92 million refund at six refineries that installed equipment designed to remove sulfur dioxide from crude oil. More »
The Obama administration and European governments are seeking help from Arab and Asian allies to reduce Iran’s oil revenues in the dispute over its nuclear program, while trying to avoid causing a surge in prices that may threaten the global economic recovery. More »
The joint venture of Enterprise Products Partners and Enbridge Inc. to carry oversupplied crude at the Cushing hub to Gulf Coast refiners will begin seeking customer commitments next month, the companies said. More »
The average price of gasoline dropped to $3.03, down 4 cents from the week before, according to AAA gas gauge. Texas saw prices also drop 4 cents to settle at $3.05, and the national average is down 5 cents to $3.21. More »
Enbridge Inc., Canada’s largest oil- pipeline company, has won enough support from shippers to proceed with a $1.9 billion project to bring more Canadian and North Dakota crude to U.S. refineries. More »
The Environmental Protection Agency is expected Wednesday to announce its first-ever standards for mercury and other toxic emissions from power plants, capping months of debate over a rule that Republicans and utilities have decried and environmental and health groups have hailed. More »
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