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By Reuters Dec 15 (Reuters) – Teamsters members working at Marathon Petroleum’s Detroit refinery have voted to ratify a seven-year collective bargaining agreement, the company and the union said on Sunday, three months after workers walked off the job. “The process to safely welcome our employees back to the refinery is already in progress,” the Findlay, Ohio-based …
Marathon, Teamsters Reach Pay Deal at Detroit Refinery Read More »
(Reuters) – The return to service of BP’s Whiting, Indiana refinery has been delayed, industry sources said. BP started the planned turnaround activity at its 435,000 barrel-per-day refinery in late September. The refinery began restarting units involved in the turnaround in early November. A source said at least two of the units have experienced startup …
BP’s Whiting Refinery in Indiana Delays Return to Service, Sources Say Read More »
By Shariq Khan EIA expects US refining margins to be unchanged next year Margins have declined sharply since 2022 due to slowing demand, higher supplies NEW YORK, Nov 13 (Reuters) – U.S. refiner margins for gasoline and diesel will be relatively unchanged next year, the U.S. Energy Information Administration said on Wednesday, signaling relief for …
US Refiner Margins to Stabilize Next Year as Plant Closures Cut Supply, EIA Says Read More »
Chemical maker LyondellBasell Industries on Friday detailed its long-announced plan to permanently shutter its 263,776 barrel-per-day (bpd) Houston oil refinery in the first quarter of 2025. The planned closing marks the latest in a wave of U.S. refinery closures as motor fuel demand is expected to peak this decade and decline under pressure from renewable …
Another U.S. Oil Refinery to Vanish with Lyondell Houston Plant Closing Read More »
(Reuters) – Phillips 66 beat quarterly profit estimates on Tuesday as strength in its chemicals and midstream segments helped the refiner more than offset a slump in refining margins from lackluster fuel demand. The company, which owns nearly 72,000 miles of U.S. pipeline systems, has moved more fuel this year than before as it expands …
Refiner Phillips 66 reports Q3 profit beat on midstream, chemicals strength Read More »
Summary Entire 410,000-bpd plant due for shutdown around mid-2025 Half of capacity already mothballed Dalian govt pushed for refinery relocation after accidents Potential replacement in Changxing island still under evaluation SINGAPORE, Oct 28 (Reuters) – PetroChina is set to shut its largest domestic oil refinery around mid-2025, sources said, the country’s first major closure at …
PetroChina Set to Shut Top North China Refinery in 2025, Sources Say Read More »
(Reuters) – U.S. crude oil refiner Valero Energy Corp said on Thursday it is considering a range of options that could include selling its two California refineries due to growing regulatory pressure in the state. Chief Executive Lane Riggs said during a conference call “all options are on the table” for the company’s two California …
Valero CEO Says All Options Are On The Table For Two California Refineries Read More »
Summary Court gets an earful from firms opposing proposed bid Heated opposition to negotiating exclusivity, breakup fee offer Final recommendation on sale could be stalled until January HOUSTON, Oct 21 (Reuters) – Key terms of a proposed court agreement with a U.S. hedge fund seeking to gain control of oil refiner Citgo Petroleum from Venezuela …
Citgo Auction Creditors Assail Elliott Bid, Seek Rival Offers Read More »
Accident at Deer Park refinery left at least two workers dead and another 35 people injured. A fatal accident last week at a Houston-area refinery was another reminder of the risks posed by the oil industry that dominates much of the city. The vast Deer Park facility, owned by Mexico’s state-owned oil company Petroleos Mexicanos, …
Deadly Houston Fire Highlights Pemex’s Grim Safety Record Read More »
Exxon Mobil Corp. said lower oil prices and refining margins reduced third-quarter earnings by $1.6 billion compared with the previous period. The oil giant revealed quarterly earnings guidance in a regulatory filing Thursday. The impacts of lower oil prices and shrinking refining margins will be partly mitigated by gains of about $900 million from timing effects and …
Exxon Sees $1.6 Billion Earnings Hit From Oil, Refining Margins Read More »
